NEW YORK (AP) — U.S. stocks registered gains today as investors focused on corporate news instead of geopolitical worries. Kinder Morgan surged after announcing that it would combine a group of businesses that it controls to create the fourth-biggest U.S. energy company by market value. Banana seller Chiquita Brands International soared after the company received a $611 million buyout offer. The Dow Jones industrial average climbed a little over 16 points.
NEW YORK (AP) — Facebook’s fight against New York City prosecutors over 381 search warrants for users’ postings and other data is drawing support from other social media companies. Lawyers for Foursquare, Kickstarter, Meetup, and Tumblr said Monday they’re seeking to join the clash on Facebook’s side. Attorney Richard Holwell says that given New York’s growing tech industry, it’s increasingly crucial to protect user privacy.
WICHITA, Kan. (AP) — Federal authorities have announced that Kansas agreed to settle a securities fraud charge accusing the state of misleading investors about the financial health of its public employee pension system in 2009 and 2010 — at the time the second-worst underfunded system of its kind in the nation. The Securities and Exchange Commission says the state has consented to its cease-and-desist order to settle the case, without admitting or denying its findings.
NEW YORK (AP) — Barneys of New York has agreed to pay $525,000 to resolve allegations that minorities were singled out as suspected shoplifters at its flagship store, part of a spate of racial profiling complaints against major retailers last year. Officials say that some Barneys shoppers and ex-employees complained that detectives followed minority customers around — even after staffers identified them as frequent patrons — and disproportionately investigated their credit-card use.
NEW YORK (AP) — Sears Holdings Corp. says Alasdair James has joined the company as president and chief member officer for its Kmart business, a new position. The 44-year-old James was most recently the commercial director for British supermarket giant Tesco’s global business unit. He will be responsible for Kmart’s financial performance and merchandising, marketing and price strategies for its free loyalty program, Shop Your Way.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
