August 20, 2014 in Business

In brief: Trader Joe’s among grocers recalling peanut, almond butter

From Wire Reports
 

NEW YORK – Peanut and almond butters sold at Whole Foods, Trader Joe’s and other grocers are being recalled because of possible salmonella contamination.

A unit of Hain Celestial Group Inc. said Tuesday that there have been reports of four illnesses that may be related to the nut butters. They were sold under the brand names Arrowhead Mills Peanut Butters, MaraNatha Almond Butters and Peanut Butters, and private label brands for Whole Foods, Trader Joe’s, Kroger and Safeway. A total of 45 production lots are affected.

They were sold in Canada, the Dominican Republic, Hong Kong and the United Arab Emirates as well as the U.S.

The Food and Drug Administration said it did not know how many jars of nut butters were recalled. The company would not comment.

Late-payment rate on mortgages declines

LOS ANGELES – Fewer U.S. homeowners are falling behind on their mortgage payments, a trend that has reduced the late-payment rate on home loans to the lowest level in six years, according to credit reporting agency TransUnion.

The percentage of mortgage holders at least two months behind on their payments fell in the April-June period to 3.46 percent, down from 4.32 percent a year earlier, the firm said Wednesday.

The latest mortgage delinquency rate was down from the first quarter of this year, when it stood at 3.61 percent.

The last time the rate was lower was the first quarter of 2008, when it was 3.39 percent, according to TransUnion. The firm’s records go back to the second quarter of 2007.

Stocks rise as U.S. home construction rebounds

NEW YORK – A summer swoon for the stock market appears to be over for now.

The Standard & Poor’s 500 index closed within six points of its all-time high Tuesday, less than two weeks after slumping on concerns about rising tensions in Iraq and Ukraine.

Home Depot, the nation’s largest home improvement retailer, rose after raising its annual profit forecast following a strong spring selling season. TJX, the parent company of T.J. Maxx, Marshalls and other stores, climbed on strong earnings.

The Standard & Poor’s 500 index gained 9.86 points, or 0.5 percent, to 1,981.60. The index is up 1.4 percent for the week and is approaching its record close of 1,987.98 reached July 24. The Dow Jones industrial average rose 80.85 points, or 0.5 percent, to 16,919.59. The Nasdaq composite climbed 19.20 points, or 0.4 percent, to 4,527.51.

U.S. consumer prices rose in July at the slowest pace in five months, held back by a drop in gasoline prices.


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