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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 09, 2010
Page
12
Stocks closed little changed after a new wave of mergers and acquisitions. The Dow fell 13.68 to 10,552.52, the S&P 500 slipped 0.20 to 1,138.50, while the Nasdaq rose 5.86 to 2,332.21, its highest close since September 2008.
Retail gasoline prices climb toward 3.00 per gallon as warmer weather and the driving season approach. The national average rose 0.6 cents to 2.753, matching the 2010 peak and up 9.2 cents in a month. Prices are 80.6 cents higher than a year ago.
McDonald’s reported a 4.8 percent gain in same store sales worldwide in February. Overseas growth outweighed a 0.6 percent U S increase after a 0.7 percent January decline driven by breakfast deals McCafe beverages and Chicken McNugget promotions tied to the Winter Olympics.
Campaigners say Kraft misled Cadbury employees in the 11.5 billion pound takeover. The Takeover Panel declined to confirm any probe. Kraft had promised to save the plant and 400 jobs but CEO Irene Rosenfeld later announced closure by 2011 after the deal closed.
Obama administration antitrust officials plan five workshops starting in Ankeny Iowa to examine concentration in agriculture. Justice Department official Christine Varney and Agriculture Secretary Tom Vilsack say the aim is to foster competition and level the playing field with major players like Archer Daniels Midland Cargill Tyson Foods JBS Monsanto and DuPont.
Iowa Senator Chuck Grassley told University of Iowa health sciences students that better pay and shifted federal incentives are needed to attract doctors to primary care, especially in rural areas. He warned that reform bills may raise premiums and debt without addressing core incentives.
Iowa authorities demand Taylor's Maid-Rite in Marshalltown modify a three-foot Maid-Rite Cooker used for ground beef to separate holding and cooking. Owner David Short appeals citing flavor and volume, while 1,400 fans join a Save Taylor's Maid-Rite page. Maid-Rite Corp seeks compulsory changes across franchises. lawmakers hear from both sides as a legal fight unfolds.
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