Business briefs: U.S. government records $51.8 billion budget surplus in June
WASHINGTON – The U.S. government ran a budget surplus in June, leaving the budget deficit so far this year running under last year’s level.
The Treasury Department said the surplus in June totaled $51.8 billion, compared with a surplus of $70.5 billion a year ago. However, the larger 2014 monthly surplus was heavily influenced by a timing quirk that had moved June benefit payments into May last year because June 1 fell on a Sunday.
For the current budget year, the government is running a deficit of $313.4 billion, a 14.3 percent reduction from the imbalance over the first nine months of the previous budget year.
So far this year, government receipts total $2.45 trillion, 8.3 percent higher than the first nine months of the 2014 budget year. Government outlays total $2.76 trillion through June, 5.1 percent higher than the previous year.
The federal government’s budget year begins Oct. 1 and ends Sept. 30.
Union, GM begin talks
DETROIT – It was all smiles and optimism Monday as the United Auto Workers union opened contract talks in an official handshake ceremony with General Motors.
But the glad-handing may not last long. GM and Ford want to cut labor costs that are $8 to $9 per hour higher than U.S. plants owned by Honda and Toyota. Fiat Chrysler wants to keep its costs stable. The union also wants pay raises for longtime workers and an end to lower pay for entry-level workers.
Despite the differences, union officials and GM executives said they were confident at a Monday ceremony that they could negotiate a deal that will make both sides happy.
The union’s contracts with GM, Ford and Fiat Chrysler expire Sept. 14.
‘As Seen on TV’ marketer, New Jersey settle
TRENTON, N.J. – The largest marketer of “As Seen on TV” products says a settlement with New Jersey consumer affairs officials will lead to an improved shopping experience for customers.
New Jersey reached the settlement with Telebrands Inc. after saying the company used high-pressure sales tactics and made it difficult for customers to get refunds. State consumer affairs officials announced Monday the Fairfield-based company has agreed to revise its interactive voice response ordering system.
The company also has to pay the state $550,000.
Telebrands also will have to retain a consumer affairs liaison to monitor its compliance with the settlement terms. The liaison also will help resolve consumer complaints and provide quarterly reports to the state.
Damaged Shell drilling support ship heading to Seattle
ANCHORAGE, Alaska – Royal Dutch Shell PLC will send a damaged ship carrying equipment required for Arctic offshore oil drilling from Alaska back to the West Coast for repairs.
But spokesman Curtis Smith said Monday the company can begin top-hole work without the 380-foot icebreaker Fennica and the repairs should not interrupt Shell’s schedule for drilling two exploratory wells this summer in the Chukchi Sea off Alaska’s northwest coast.
The Fennica’s primary job for Shell is carrying equipment for stopping a well blowout. The equipment is not required by federal regulators until drill bits hit hydrocarbon zones.
The hull of the Fennica was gashed July 3 as it departed Dutch Harbor in the Aleutians for the Chukchi Sea. The vessel, under the direction of an Alaska harbor pilot, struck an uncharted object, creating a hole in the hull about 3 feet long and a half-inch wide.