Stocks fall...Amazon distribution center to be built in NC...BNSF: Flooding played a role in Iowa derailment
Aug. 10, 2018
NEW YORK (AP) — Stocks are tumbling in afternoon trading on Wall Street following steep losses in Europe, where investors worried about a sharp drop in Turkey's currency. The dollar and bond prices rose as investors shifted money into lower-risk assets. The rising dollar helped U.S-focused companies but hurt big exporters. Rising bond prices are sending interest rates lower, hurting banks.
GARNER, N.C. (AP) — A North Carolina town will be the site of a new Amazon distribution center that officials say will lead to hundreds of millions in investment and the creation of more than a thousand jobs. State and local officials announced today that the Raleigh suburb of Garner will be home to a new distribution center for the Seattle-based web retailer. They say it will create 1,500 new jobs and $45 million annually in payroll for the workers. The four-story, 2.6 million square foot distribution center will be built on the site of a former ConAgra Foods plant.
DOON, Iowa (AP) — BNSF Railway has acknowledged flooding played a role in a June derailment that loosed thousands of gallons of oil into northwest Iowa floodwaters. A railway spokesman says the derailment was "flood related" but declined to say whether the train engineer knew or should have known about washed-out tracks mentioned in a preliminary federal report released yesterday. The report says rain and runoff washed out track, but it stopped short of saying the flooding caused the 32-car derailment.
OWENSBORO, Ky. (AP) — Eight former supervisors and safety officers at a Kentucky coal company have pleaded not guilty in federal court to charges they rigged dust monitoring in underground mines. An indictment alleges that Armstrong Coal officials ordered workers to remove dust sampling equipment and place it in clean air portions of the mine to get desirable readings. The indictment says the offenses happened at Armstrong's Parkway and Kronos mines between 2013 and 2015.
PORTLAND, Ore. (AP) — Four women who used to work for Nike have filed a federal lawsuit against the company, alleging it violated state and U.S. equal-pay laws and fostered a work environment that allowed sexual harassment. The Oregonian/OregonLive reports the suit filed yesterday in Portland is among the first to hit the company following complaints earlier this year of pay disparities and bad managers. Nike responded by ousting at least 11 executives in March and April.