(Source: Providence Journal)
Sunoco restricts BPA: Sunoco, the gasoline and chemical giant, has begun restricting sales of a controversial chemical used in baby bottles and food containers that some researchers believe can harm infants. The move makes Sunoco the first manufacturer to acknowledge safety concerns about bisphenol-A, or BPA, which recently led retailers such as Wal-Mart to pull thousands of baby and water bottles off store shelves. Environmental groups want to ban BPA in products for infants because of concerns that it can interfere with biological functions needed for growth. But government scientists have issued conflicting opinions about the chemical's risks. In light of that uncertainty, Sunoco said in a letter yesterday it has begun requiring customers to guarantee that its BPA will not be used in food and water containers for children under 3. (Associated Press)
Tyco shareholders approve move: Tyco International Ltd., the world's largest maker of security systems, yesterday approved a proposal to move its place of incorporation to Switzerland's Schaffhausen canton from Bermuda. Shareholders voted for the change that the company's board approved last year. The change is expected to become official next week after the government filings in Bermuda and Switzerland are completed, Tyco said in a statement. Switzerland has an established tax treaty with the U.S. Tyco will remain registered with the Securities and Exchange Commission and prepare its financial statements in U.S. dollars. The shares will continue to be listed on the New York Stock Exchange under the ticker symbol TYC. (Bloomberg News)
Watergate again for sale: The Watergate office complex, made famous by the political scandal that brought down President Richard Nixon, is being put back on the market after the owner failed to find a buyer last year. BentleyForbes, the real estate investor that bought the office and retail portion of the Washington complex in 2005, hired investment banking firm Savills LLC to market the property. BentleyForbes put the property, site of the bungled 1972 burglary that led to Nixon's resignation, up for sale a year ago, and pulled it from the market last May after buyers wouldn't pay what the company was seeking, chief executive officer David. W. Cobb said at the time. Savills didn't disclose the current asking price. (Bloomberg News)
- Markets
Dollar advances: The dollar rose against major currencies yesterday in New York, ending at 97.43 Japanese yen, up from Wednesday's close of 97.27 yen. The euro closed at 3:30 p.m. at $1.2770, down from $1.2803.
Metals climb: Gold for current delivery closed at $923.70 a troy ounce on the New York Mercantile Exchange, up from Wednesday's close of $910.40. Silver closed at $12.958 an ounce, up from $12.815.
Fuels soar: April light, sweet crude oil rose $4.70 to $47.03 a barrel on the New York Mercantile Exchange. April heating oil rose 9.3 cents to $1.2264 a gallon. April gasoline rose 9.45 cents to $1.3345 a gallon. April natural gas rose 19.7 cents to $3.995 per 1,000 cubic feet.
Associated Press
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