Retailers back safety accord in Bangladesh
Some of the world’s largest retailers have agreed to a first-of-its-kind pact to improve safety at some of Bangladesh’s garment factories after a building collapse that killed more than 1,100 workers in the country last month.
H&M, a trendy Swedish chain that’s the largest clothing buyer in Bangladesh, on Monday said that it would sign a five-year, legally binding contract that calls for retailers to take on a greater role in ensuring the garment factories in Bangladesh are safe. Other companies followed with their own announcements.
Report: Bloomberg messages leaked
A published report says financial data and news service Bloomberg accidently leaked online more than 10,000 private messages containing sensitive pricing data exchanged by users of Bloomberg’s financial information service.
The Financial Times reported Monday that the messages between traders at dozens of large banks from one day in 2009 and one in 2010 had been put online by a former Bloomberg employee. The newspaper says it’s possible he may have intended them to be uploaded to a secure site. The report came the same day Bloomberg News editor-in-chief Matthew Winkler apologized for allowing its journalists to access data about the terminal usage of clients.
GM: Supercomputers to help limit recalls
General Motors Co. says a new supercomputing data center and a fledgling shift to bring software development in-house should help it limit the size of safety recalls.
The Detroit automaker, which formally opened the giant data storage center in suburban Warren, Mich., on Monday, said the changes are examples of how it is moving faster to cut costs and serve its customers better by bringing more computer technology inside the company.
US retail sales rise
Lower-priced gas allowed Americans to step up their spending at retailers in April, from cars and clothes to electronics and appliances. The rebound from a weak March suggests consumers remain resilient in the face of higher taxes and could continue to drive economic growth this spring.
Retail sales edged up 0.1 percent in April, the Commerce Department said Monday. That’s an improvement from a 0.5 percent decline in March, the largest drop in nine months.
Appeal filed to delay morning-after pill
The Obama administration Monday filed a last-minute appeal to delay the sale of the morning-after contraceptive pill to girls of any age without a prescription.
The legal paperwork asked the 2nd U.S. Circuit Court of Appeals in Manhattan to postpone a federal judge’s ruling that eliminated age limits on the pill while the government appeals that overall decision.
Vindicator wire services
Selected local stocks
Aqua America, .70, 31.95 .10
Clear Channel, .61 33.30 .37
Cortland Bancorp, 10.35.00
Farmers Nat., .126.46 .01
First Energy, 2.20, 42.66—.25
FirstMerit Corp., .64,17.51 .11
First Niles Financial, .32,7.00.00
First Place Fin., .0019.00
FNB Corp., .48,11.59—.05
General Electric, .76,22.85—.05
Motors Liquidation, .0422.00
Huntington Bank, .20, 7.49.00
JP Morgan Chase, 1.52,49.67.71
Key Corp, .20,10.35.05
LaFarge, 17.14 —.16
Macy’s, .80, 46.88—.35
Parker Hannifin, 1.72, 93.99—.06
RTI Intl. Metals,28.76—.25
Simon Prop. Grp.,4.60,179.96.59
Stoneridge 9.36 .31
United Community Fin. 4.10.06
Selected prices at 4 p.m. Monday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.