• General Mills' sales hit by shoppers' turn against cereal

    Updated: 26 min ago

    NEW YORK (AP) — General Mills Inc.'s fourth-quarter profit fell and its revenue fell short of expectations as it deals with shoppers who are skipping the cereal aisle. The maker of Cheerios cereal, Yoplait yogurt and other packaged foods saw both sales and profit decline in the U.S. retail segment of its business. The company plans to expand its "consumer first" initiative to help it compete with smaller competitors that are appealing to changing tastes. Big packaged food makers have been stung by shoppers' interest in foods they see as healthier or more natural. Cereal sales also have suffered because of the popularity of gluten-free or high-protein diets.

  • Ace buying Chubb in cash-and-stock deal valued at $28.3B

    Updated: 43 min ago

    WARREN, N.J. (AP) — Insurer Ace is buying The Chubb Corp. in a cash-and-stock deal valued at about $28.3 billion that will boost its international presence. Chubb shareholders will receive $62.93 per share in cash and 0.6019 shares of Ace Ltd. stock. Ace shareholders will own 70 percent of the combined business, with Chubb shareholders owning 30 percent. The combined company plans to use the Chubb name and will have its main offices in Zurich, Switzerland, where Ace is based. Chubb's Warren, New Jersey, headquarters will contain a substantial portion of the headquarters function for the combined company's North American unit. Both companies' boards unanimously approved the transaction, which is targeted to clos

  • Tractor-trailer hitches could be faulty, 6,000 may be in use

    Updated: 1 hr ago

    BATAVIA, Ohio (AP) — On a twisty, snow-lined hill that the locals call "Devil's Backbone," a 12-ton semi-trailer came loose from its tractor and plowed into an oncoming line of pre-dawn commuters. At 40 miles per hour, the trailer struck the side of one pickup truck and careened head-on into another, killing the drivers of both vehicles. At first the Jan. 24, 2014, crash on U.S. 50 in Cincinnati's eastern suburbs drew only the attention of Ohio authorities, who faulted the semi driver for not properly inspecting the hitch that holds the trailer to the tractor. But 17 months later, the National Highway Traffic Safety Administration has raised the possibility that the hitch was defective.

  • Ex-Arch Coal employee sentenced in mine kickback scheme

    Updated: 1 hr ago

    CHARLESTON, W.Va. (AP) — A former Arch Coal employee will spend six months in prison for lying to investigators about a kickback scheme at a mine. Gary Griffith had pleaded guilty in July 2014 to making a materially false statement in a federal matter. The 63-year-old Oceana resident was sentenced Tuesday in U.S. District Court in Charleston. U.S. Attorney Booth Goodwin says Griffith admitted lying about receiving kickbacks when he was maintenance manager at Arch Coal's Mountain Laurel Mining Complex in Logan County. Goodwin says in a news release that an unnamed person associated with North American Rebuild Company, Inc. paid kickbacks to Griffith and the mine's former general manager for each shuttle car ordered fro

  • European markets surge on Greek deal hopes

    Updated: 1 hr ago

    LONDON (AP) — Hopes that a deal between Greece and its creditors could be cobbled together in time to avoid a messy Greek exit from the euro sent stock markets across Europe sharply higher on Wednesday. ___ KEEPING SCORE: In Europe, the CAC-40 in France was up 2.5 percent at 4,908 while Germany's DAX rose 2.1 percent to 11,171. The FTSE 100 index of leading European shares was 1.4 percent higher at 6,613. Wall Street was poised for solid gains with both Dow futures and the broader S&P 500 futures up 0.8 percent. ___ GREEK DEBT CRISIS: The gains in Europe come despite Greece's failure Tuesday to get an agreement to extend its bailout program with European creditors and its failure to make a roughly 1.

  • Events leading to government probe of big-rig hitches

    Updated: 1 hr ago

    March 1, 2011: Fontaine Fifth Wheel sends service bulletin to customers telling them that the Ultra LT hitch used on semis may not lock properly and trailers can detach from tractors on the road. The bulletin also is sent to the National Highway Traffic Safety Administration. April 15, 2011: NHTSA opens investigation to find out which tractor manufacturers use the Ultra LT. May 13, 2011: Daimler Trucks North America recalls 2,281 Freightliner cabs to replace the locking bar on the hitches. June 27, 2011: NHTSA closes investigation, says it knows other truck manufacturers used the Ultra LT on tractors and will work with Fontaine "to ensure that the remaining vehicles are identified and remedied.

  • Russia halts gas supply to Ukraine amid pricing dispute

    Updated: 1 hr ago

    MOSCOW (AP) — Russian gas company Gazprom halted supplies to neighboring Ukraine on Wednesday after the collapse of pricing talks, company official said. Gazprom CEO Alexei Miller said that Russia halted the supply at 10 a.m. (0700 GMT, 3 a.m. EDT) because Ukraine didn't make an advance payment for July's delivery. "Gazprom is not going to send gas to Ukraine at any price without the advance payment," Miller said in comments carried by Russian news agencies. Russian and Ukrainian energy ministers on Tuesday failed to reach an agreement on future supplies. Russia offered Ukraine a price of $247 per cubic meter, a $40 discount. Ukraine wanted a $100 discount.

  • House passes $16.1 billion transportation package

    Updated: 3 hr ago

    OLYMPIA, Wash. (AP) — The House has passed a $16.1 billion transportation revenue package that includes an 11.9-cent gas tax increase that would be phased in over two years. The chamber passed the revenue bill on a 54-44 vote in the early morning hours of Wednesday. Because the House amended the bill, it goes back to the Senate, which passed the package on Monday, for a final vote. Lawmakers are in the midst of a third special session, having just finished their work on a state operating budget. The transportation plan would increase the gas tax in two stages: a 7-cent increase on Aug. 1 and a 4.9-cent increase on July 1, 2016. The plan spends $8.8 billion on state and local road projects and $1.4 billion on maintenance and

  • Michigan Senate to vote on $1.5 billion road-funding plan

    Updated: 4 hr ago

    LANSING, Mich. (AP) — The Michigan Senate plans to vote on a $1.5 billion road-funding plan that would raise fuel taxes and redirect other government revenues to transportation infrastructure. Votes scheduled for Wednesday come a day after the Republican-backed legislation was unveiled and quickly approved by a committee. The proposal includes increasing the state gasoline tax by 15 cents a gallon to generate $800 million annually. Michigan's income tax would drop each year that general funds grow more than the inflation rate. The plan also calls for dedicating $700 million more a year to roads through future unspecified spending cuts. If Republicans can muster support for their legislation opposed by Democrats,

  • Toyota, Nissan, Honda back hydrogen stations for fuel cells

    Updated: 4 hr ago

    TOKYO (AP) — Toyota, Nissan and Honda are working together to get more fuel cell vehicles on roads in what they call Japan's big push toward "a hydrogen society." Fuel cell vehicles emit no pollution. They run on the power created when hydrogen stored as fuel combines with oxygen in the air to make water. Hydrogen fueling stations are needed to make the technology a viable option. The automakers pledged up to 11 million yen ($90,000) per hydrogen station per year, to build and maintain them. Officials appeared together in a news conference in Tokyo Wednesday. The stations already get government subsidies.

  • Armenia whacked by protests over electricity price hike

    Updated: 4 hr ago

    YEREVAN, Armenia (AP) — Street protests in Armenia against a hike in electricity prices, which have been roiling the capital for nearly two weeks, are the most serious unrest the Caucasus nation has seen in years. The protests are continuing despite the president's decision to suspend the price rise. Armenia is allied closely with Russia, where some fear the protests could follow the pattern of massive demonstrations in Ukraine that swept a pro-Moscow president from power last year. The action organizers, however, describe it as a purely social protest and strongly deny affiliation with any political forces.

  • Review: Gadgets for the beach and getting you there

    Updated: 5 hr ago

    NEW YORK (AP) — If you're headed to the beach or any other weekend getaway, don't forget these "essential" gadgets. Of course, no technology is truly essential. You're at the beach! Disconnect! Go swimming! Build sandcastles! Still can't leave the gadgets behind? Well, consider these: ___ E-BOOK READER OR TABLET You'll want reading material. Sure you can bring real books and real magazines, but that's a lot to carry. I prefer e-readers over tablets for e-books because e-readers work better in direct sunlight and don't come with such distractions as Facebook updates. Amazon has the best readers out there. Last fall's Kindle Voyage is a premium model with a stunning, high-resolution display that makes

  • Trump files $500 million lawsuit as pageant woes mount

    Updated: 7 hr ago

    NEW YORK (AP) — As fallout built over Donald Trump's remarks about immigrants from Mexico, the Republican presidential candidate answered back with legal action to match his trademark brashness, filing a $500 million lawsuit. The suit against Univision for dropping the Miss USA and Miss Universe pageants claims breach of contract, defamation and First Amendment violations, and contends Univision turned on him because it supports Democrat Hillary Rodham Clinton for president. In a statement, Univision called Trump's lawsuit "factually false and legally ridiculous." It said it will "continue to fight against Mr. Trump's ongoing efforts to run away from the derogatory comments he made.

  • Commission's hearing examines OG&E SmartHours remuneration

    By Paul Monies Business Writerpmonies@oklahoman.com | Published: Wed, Jul 1, 2015

    OG&E's calculation for how it should be reimbursed for lost net revenues in 2013 from the SmartHours program is at issue. The public utility division came up with about $4.9 million, but OG&E's calculations were $11.2 million.

  • Oklahoma Supreme Court allows earthquake lawsuit to continue

    BY ADAM WILMOTH Energy Editorawilmoth@oklahoman.com | Published: Wed, Jul 1, 2015

    A resident of Prague is seeking damages after she was injured in her home by a 2011 earthquake that was magnitude 5.6 and caused widespread damage. The Oklahoma Supreme Court reversed a lower-court ruling, saying Cynthia Ferrell's case could continue in Lincoln County District Court.

  • TRAIN STATION: Boeing workers help renovate training room to aid jobless

    By Brianna Bailey Business Writer bbailey@oklahoman.com | Published: Wed, Jul 1, 2015

    Boeing donated $30,000 and 100 employee volunteer hours to renovate a training room at the Urban League of Greater Oklahoma City.

  • Two companies qualify for state jobs incentives

    By Brianna Bailey Business WriterThe Oklahoman  | Published: Wed, Jul 1, 2015

    Palmer Manufacturing & Tank Inc. in Skiatook and EAN Support Services LLC in Tulsa have qualified for $5.1 million in state jobs incentives. The companies have created 296 new positions over the course of 10 years through the Oklahoma Quality Jobs Program.

  • Fireworks aficionado will light up Choctaw sky with display Sunday

    By Scott Amundson For The Oklahoman | Published: Wed, Jul 1, 2015

    Rudy Forrest, owner of Rudy's Fireworks, will offer his annual fireworks display on Sunday in Choctaw.

  • Oklahoma briefs

    Updated: 11 hr ago

    Oklahoma business briefs for July 1

  • Federal judge rules Maui County ban on GMO crops invalid

    Updated: 8 hr ago

    HONOLULU (AP) — A federal judge ruled Tuesday that a Maui County ban on the cultivation of genetically engineered crops is pre-empted by federal and state law and invalid. The county's ordinance creating the prohibition exceeded the county's authority, U.S. District Court Chief Judge Susan Oki Mollway said in her order. The county, which is a major center for research on genetically engineered crops, will abide by the decision, spokesman Rod Antone said. Monsanto Co. and Dow Chemical Co. unit Agrigenetics Inc. both have research farms in the county. The judge stressed that her order addresses only the legal question of county authority.