Lumber Liquidators suspends some sales
Lumber Liquidators has suspended the sale of all laminate flooring made in China a week after disclosing that the Justice Department is seeking criminal charges against the specialty retailer in an investigation over imported products. The flooring supplier said it decided to suspend the sales while a board committee completes a review of its sourcing compliance program. The CBS news show "60 Minutes" reported in March that the company's laminate flooring made in China contained high levels of the carcinogen formaldehyde. The company has sent thousands of air testing kits to customers since early March. It said more than 97 percent of the kits from customers with laminate flooring from China showed formaldehyde air concentrations that fell within World Health Organization guidelines.
Blue Bell knew of listeria in 2013, feds say
Blue Bell ice cream had evidence of listeria bacteria in its Oklahoma manufacturing plant as far back as March 2013, a government investigation found. The Texas-based company continued to ship ice cream produced in that plant after what the Food and Drug Administration says was inadequate cleaning. Three listeria deaths in Kansas are now linked to the ice cream, along with seven other illnesses in Kansas, Texas, Oklahoma and Arizona. Blue Bell Creameries recalled all of its products last month, following several smaller recalls. The FDA on Thursday released results of its investigations into Blue Bell's plants in Oklahoma, Texas and Alabama after a Freedom of Information request by the Associated Press.
Tribune to buy San Diego newspaper
The publisher of the Los Angeles Times has agreed to buy San Diego's dominant newspaper for $85 million, U-T San Diego reported. It said Tribune Publishing will keep the San Diego newspaper as a separate brand while sharing stories, photos and other content with the Los Angeles Times. Douglas Manchester, who bought the San Diego newspaper in 2011 for about $110 million, will remain owner of the U-T's headquarters in the city's Mission Valley area. He is seeking permission to build 200 luxury apartments there.
Consumer borrowing rises to a record
Consumers increased their borrowing in March by the largest amount in nearly a year as borrowing on credit cards rebounded following two months of declines. Consumer borrowing expanded by $20.5 billion in March to a fresh record of $3.36 trillion, the Federal Reserve reported Thursday. It was the largest increase since April 2014. Borrowing in the category that covers credit cards shot up $4.4 billion to $889.4 billion in March after having fallen in both January and February. It was the biggest gain for consumer credit since last July. Borrowing in the category that covers auto and student loans rose $16.2 billion to $2.47 trillion.
American Airlines flies its first Dreamliner
American has joined the list of airlines flying the Boeing 787 jet, which it hopes will appeal to passengers and open new, profitable international routes. Passengers boarded at Dallas-Fort Worth International Airport on Thursday morning for American's debut flight of a 787 to Chicago. Domestic service is just a warm-up. Next month, American will begin using 787s on flights to Beijing, Buenos Aires and Shanghai and will add Tokyo in August. American joins United as the only U.S. airlines using the plane, which Boeing calls the Dreamliner.
Review site Yelp said to be looking for buyer
Yelp may be heading for the auction block amid concerns about the online business review service's ability to compete against larger Internet companies for digital advertising. Investment bankers working with Yelp are courting potential suitors, according to a report Thursday in the Wall Street Journal, raising investors' hope that the San Francisco company will be sold. The Journal cited people it did not identify who are familiar with the matter and cautioned that Yelp Inc. still might not pursue a sale. Yelp declined to comment under its policy against responding to rumor or speculation. The prospect of a sale emerged a week after Yelp disappointed investors with a first-quarter report and a revenue forecast that lagged analysts' estimates. The letdown triggered a sell-off that hammered Yelp's already slumping stock, which lost more than half its value in eight months.