Stocks gain...Flight delays...Kellogg sells Keebler
NEW YORK (AP) — Stocks have been solidly higher in afternoon trading. Financial and technology companies powered the rally. Investors were encouraged to see that a closely watched gauge of the U.S. manufacturing sector posted a surprisingly big jump in March, according to the Institute for Supply Management. In another positive sign, the government reported that construction spending rose at a solid pace in February.
NEW YORK (AP) — A technical glitch at an outside aviation company has led to delays today at major U.S. airlines. The issue was resolved quickly, but it led to travel disruptions. Delays that began appearing first in Chicago, New York, Miami and Boston spread to Dallas, Atlanta, Detroit and Washington, D.C. The Federal Aviation Administration said several airlines had problems with a program called Aerodata, which is used to plan weight and balance for flights.
RALEIGH, N.C. (AP) — The country’s largest electric company is being ordered to excavate coal ash from all of its North Carolina power plant sites, slashing the risk of toxic chemicals leaking into water supplies but potentially adding billions of dollars to power bills. North Carolina’s environmental agency says it decided Duke Energy Corp. must remove the residue left after decades of burning coal from six remaining sites.
DETROIT (AP) — The U.S. government’s highway safety agency has decided to open two new investigations into fires involving Hyundai and Kia vehicles after getting complaints of more than 3,100 fires and 103 injuries. The National Highway Traffic Safety Administration says it granted a petition seeking the investigations from the nonprofit Center for Auto Safety, a consumer advocacy group.
NEW YORK (AP) — Kellogg is selling its iconic Keebler cookie brand and other sweet snacks businesses to Ferrero for $1.3 billion. The Michigan-based company says the brands in the deal generated sales of $900 million and profits of $75 million last year. Kellogg is also selling its Mother’s and Famous Amos cookie brands, as well as its fruit-flavored snack, pie crust and ice cream cone businesses. Ferrero is an Italian confectionary company best known for its Nutella hazelnut cream.