General Mills Plans Plant Closures to Cut Costs
General Mills Inc. will shut Midland Ontario and New Albany Indiana plants, cutting about 500 jobs as part of a cost-saving plan to save over 400 million in fiscal 2015. The Midland closure affects 100 jobs. New Albany would shed about 400, pending union approval.
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Fed officials urge patience delay in rate hikes through 2015
Top Federal Reserve voices favor deferring the first rate increase citing slow wage growth and inflation. Dennis Lockhart expects a mid-2015 or later move while Charles Evans calls for 2016. Narayana Kocherlakota urges keeping rates near zero for at least another year amid tame pay gains and stubborn inflation.
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