Hostess is moving ahead with plans to sell its Twinkies and other snack cakes after nobody stepped forward to top an offer made by two investment firms. The bankrupt company had earlier picked a $410 million joint offer from Metropoulos & Co. and Apollo Global Management as the "stalking horse" bid to set the floor for an auction.
British authorities have opened an investigation into Hewlett-Packard's allegations that the personal computer maker was duped when it bought business software maker Autonomy, according to regulatory documents filed Monday. The inquiry by the U.K. Serious Fraud Office is the latest legal fallout from a deal that has saddled Hewlett-Packard Co. with massive losses and depressed its stock price.
Delaware environmental officials say new pollution control equipment installed at a Claymont steel mill will help reduce air pollution in the area. Officials gathered at Evraz Claymont Steel on Monday to tout the completion of the $16.75 million pollution control system.
Kansas legislators have jumped into a tax dispute over refineries and fertilizer and cement plants, but critics worry that helping their operators could pinch local governments and hurt homeowners and small businesses. A bill before the Kansas House would revise a state law on how counties value machinery and equipment in complex manufacturing plants when levying property taxes.
The first group of Caterpillar workers is moving in to office space at the company's new Georgia plant. The Athens Banner-Herald reports that the 850,000-square-foot facility is now home to 50 workers. They moved in to the new space less than a year after the official groundbreaking for the plant in Bogart, just west of Athens.
The U.S. government has sold another chunk of its stake in General Motors Co. The Treasury Department says in its February report to Congress that it sold $489.9 million worth of GM common stock last month. The report dated Monday says the government has recovered about $29.8 billion of its $49.5 billion bailout of the Detroit automaker. That means taxpayers are still $19.7 billion in the hole.
Sumitomo Metal Mining Co. said Monday it plans to build a pilot plant in the Philippines to extract scandium, a rare earth element used to enhance aluminum strength and in components for fuel cells and batteries. The plant will be set up later this year at Coral Bay Nickel Corp., a subsidiary on Palawan Island that produces nickel-cobalt mixed sulfide from minerals, which also contain a trace amount of scandium.
Facing public outrage over smog-choked cities and filthy rivers, China's leaders are promising to clean up the country's neglected environment — a pledge that sets up a clash with political pressures to keep economic growth strong. An array of possible initiatives discussed by officials and state media ahead of this week's meeting of China's legislature include tightening water standards and taxing carbon emissions.
General Electric says its Chairman and CEO Jeffrey Immelt received compensation for 2012 that was 80 percent more than his pay in 2011. The company, which makes products ranging from light bulbs to jet engines, gave Immelt a pay package valued at nearly $20.6 million, according to an Associated Press analysis of regulatory documents filed Monday.
Pennsylvania's waterways show little evidence of damage from toxic chemical spills from its fast-growing natural gas industry, according to a study published Monday in the Proceedings of the National Academies of Sciences. The study examined the impact of gas drilling on surface water from the drilling boom but did not address questions of whether drilling has polluted underground aquifers, a main concern of environmental advocates.
BlackBerry-maker Research In Motion will launch its new touchscreen smartphone in the U.S. with AT&T on March 22. The release will come several weeks after RIM launched the much-delayed devices elsewhere. AT&T said Monday said the Z10 will be available for $199.99 with a two-year contract. Sales of the device began in the U.K. and Canada shortly after RIM unveiled the phone in late January.
Google will pay a $7 million penalty to settle an investigation into the Internet search leader's collection of emails, passwords and other sensitive information sent over wireless networks several years ago in neighborhoods scattered around America. The resolution will close a joint investigation by attorneys general in about 30 U.S. states, according to a person familiar with the matter.
The parent company of the Lipton Tea is planning to invest more than $96 million to expand its Suffolk facility. Gov. Bob McDonnell announced the investment from Unilever on Monday. The largest tea processing facility in the U.S. employs nearly 300 in Hampton Roads.
General Electric Co. said Monday it will study the possibility of expanding dredging in a contaminated portion of the upper Hudson River after a request by New York state Comptroller Thomas DiNapoli. GE, which released poly-chlorinated biphenyls, or PCBs, into the river decades ago, is preparing to begin a fourth season of dredging as part of a federal Superfund project that is expected to cost more than $1 billion.
Corning Inc., which makes glass used in tablets, TVs and other devices, will pay $5.65 million to settle claims that it knowingly made false statements to the government for laboratory research products, the Justice Department said Friday. The charges stem from a 2005 contract with federal agencies for laboratory research products through Corning's Life Sciences division.
Solar panel maker Suntech Power Holdings Co. has been given some breathing room to make note payments to certain bondholders after signing a forbearance agreement with them. If Suntech is unable to make payments due on the convertible notes on March 15, the bondholders have agreed not to exercise their rights under the notes until May 15.
A Dutch airliner is flying from New York to Amsterdam on a fuel mix that includes leftover oil from frying Louisiana's Cajun food. The KLM flights from Kennedy Airport are powered by a combination of 25 percent recycled cooking oil and 75 percent jet fuel.
The Illinois Environmental Protection Agency wants to stop a northern Illinois business from restarting operations following explosions and a fire that injured workers. IEPA Director John Kim has asked the Illinois Attorney General's Office to seek a court order preventing FVMS Inc. in Cary from reopening.
Mitsubishi Heavy Industries Ltd. and a local utility firm in California were aware of a design flaw in Mitsubishi-made steam generators for a California nuclear reactor before a radiation leak in January 2012, according to a document recently released by the U.S. nuclear regulator.
Taking its first concrete step to streamline outdated restrictions on military exports, the U.S. moved to make it easier for American companies to sell aircraft equipment and parts to overseas customers. The goal is to simplify the export process for U.S. manufacturers competing in the global market by treating non-sensitive products differently than things like jet fighters and missile launchers.