Tuesday, January 16, 2018
Business

Beyond Tampa Bay: U.S. reaches $5.15 billion settlement with Anadarko Petroleum Corp.

The federal government on Thursday reached a $5.15 billion settlement with Anadarko Petroleum Corp., the largest ever for environmental contamination, to settle claims related to the cleanup of thousands of sites tainted with hazardous chemicals for decades. The bulk of the money — $4.4 billion — will pay for environmental cleanup and be used to settle claims stemming from the legacy contamination. The settlement resolves a legal battle over Tronox Inc., a spin-off of Kerr-McGee Corp., a company Anadarko acquired in 2006.

Jeremy Stein, a member of the Federal Reserve Board, announced Thursday that he plans to resign next month to return to Harvard University, creating more turnover on the seven-member board. In a letter to President Barack Obama, Stein said he will resign effective May 28 and return to Harvard, where he had been an economics professor beginning in 2000. Stein has been on the Fed board since 2012.

Mozilla co-founder Brendan Eich is stepping down as CEO following protests over his support of a gay marriage ban in California. The Mountain View, Calif.-based nonprofit maker of the Firefox browser infuriated many employees and users last week by promoting Eich. At issue was his $1,000 donation in 2008 to the campaign to pass California's Proposition 8, a constitutional amendment that outlawed same-sex marriages. The ban was overturned when the U.S. Supreme Court last year left in place a lower-court ruling striking down the ballot measure.

Brookstone, the struggling retailer known for its consumer gadgets, massage chairs and other home furnishings, filed for Chapter 11 bankruptcy protection Thursday, with plans to sell itself to the owner of the Spencer's retail chain for about $147 million. The company, which is privately held, said it lost $18 million in the 13 weeks ended Sept. 28, compared with a loss of $12 million in the period a year earlier.

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Career Q&A: What to do when your boss is stealing

Career Q&A: What to do when your boss is stealing

Q: I strongly suspect that my boss is stealing from our employer. As the property manager for this apartment complex, she handles all payments, deposits and other financial matters.A few weeks ago, I accidentally discovered some suspicious discrepanc...
Updated: 5 hours ago
Pinellas is at the center of a rise in Florida flu outbreaks

Pinellas is at the center of a rise in Florida flu outbreaks

Feeling a little sniffly or scratchy or stuffed up? It may be the flu, and you donít want to wait around to see a doctor this year. This is not the time to write off flu-like symptoms, Tampa Bay area health officials and doctors warn. The influenza v...
Updated: 8 hours ago
Italian Butterfingers? Nestle selling candy business for $2.9B

Italian Butterfingers? Nestle selling candy business for $2.9B

Associated PressNEW YORK ó Swiss food and drink giant Nestle is selling its U.S. candy business to Italyís Ferrero for about $2.9 billion in cash. Ferrero will take over iconic chocolate brands Butterfinger and Crunch bars, as well as the sugary Nerd...
Updated: 9 hours ago
23 seek vacant PSC post

23 seek vacant PSC post

There is another Mariano seeking a job in Tallahassee.Pasco County Commissioner Jack Mariano, the father of state Rep. Amber Mariano, R-Hudson, is seeking an appointment to the Florida Public Service Commission, the powerful board regulating Florida ...
Updated: 10 hours ago
St. Petersburg’s apartment boom is spreading west

St. Petersburg’s apartment boom is spreading west

ST. PETERSBURG — Still more apartments are coming to St. Petersburg, this time to the Edge and Grand Central Districts just west of downtown. The new projects, all by out-of-state developers and more moderately priced than those downtown, will...
Updated: 10 hours ago
Florida raises insurance regulation grade from C to B

Florida raises insurance regulation grade from C to B

When it comes to regulating insurance, Florida is slowly improving. The Sunshine State raised its grade from a C in 2016 to a B in 2017 on the "R Street 2017 Insurance Regulation Report Card." It ranked No. 15 among all states.The annual report, writ...
Updated: 10 hours ago

US travel industry launches plan to reverse tourism decline

Associated PressNEW YORK ó Travel industry representatives sounded an alarm Tuesday over declines in international tourism to the U.S. and announced plans to reverse the trend. Organizers of the new Visit U.S. Coalition portrayed the decline as long-...
Updated: 11 hours ago
Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Raymond James advice for small to mid-sized companies about activist shareholders? Prepare and listen

Shareholder fights between activist investors and publicly traded companies are getting nastier, especially in some industries, and a lot of them donít involve corporate giants like General Motors and Procter & Gamble.In 2015, according to Raymond Ja...
Published: 01/16/18
Dow bursts through 26,000 in record seven trading days

Dow bursts through 26,000 in record seven trading days

The Dow Jones industrial average blew past 26,000 Tuesday for the first time ever, coming only a week after hitting 25,000 and showing further evidence that the long-running bull market is alive and well."There are several reasons for markets to melt...
Published: 01/16/18
Arizona-based AFI Mortgage opens St. Petersburg branch

Arizona-based AFI Mortgage opens St. Petersburg branch

Times StaffAFI Mortgage, a subsidiary of an Arizona-based bank, is opening its first Florida locations in St. Petersburg and Lakeland. Its parent company, AmeriFirst Financial Inc., specializes in mortgages. "This Florida team is innovative, knowledg...
Published: 01/16/18