SC business notebook, Sept 13

September 12, 2013 

Daimler Vans expanding assembly plant, adding 60 jobs

Daimler Vans Manufacturing said Thursday it would invest $4.6 million to expand its assembly plant in Charleston County, creating at least 60 jobs by the time it is complete in 2018. The company, which distributes its Mercedes-Benz and Freightliner vans from the Lowcountry facility throughout North America, will make improvements to the building and changes to the current assembly line. The Coordinating Council for Economic Development approved job development credits.

Twitter files papers for IPO

Twitter filed the initial paperwork Thursday for its long-awaited initial public offering of stock. Unlike with typical IPOs, however, potential investors and the public will not yet get a look at the company’s finances. The microblogging service filed its preliminary prospectus, known as an S-1, with securities regulators using a provision of the Jumpstart Our Business Startups, or JOBS Act, that allows the company to keep its initial filings confidential if it has less than $1 billion in annual revenue. Goldman Sachs is leading the underwriting for the offering, according to a person briefed on the matter. While the company hopes to go public by the end of the year, the actual public offering could take place in early 2014, according to people who were briefed on the matter but could not be named because they are not allowed to speak publicly for the company. Twitter first became profitable in December.

United halts reservations after tickets sold online for as little as $5

United Airlines was selling some tickets on Thursday for as little as $5 before shutting down bookings on its website. Some customers were able to buy tickets before the airline stopped accepting orders on the website. A message on Thursday afternoon said flight searches and bookings were shut down for all flights. United also was not taking reservations by phone. A United spokeswoman didn’t have an immediate comment. Airline fare mistakes have happened before, often when an airline drops a digit when entering fares into its computer system.

Senate panel OKs bill to protect reporters from having to reveal confidential sources

A Senate panel on Thursday approved legislation designed to protect reporters and the news media from having to reveal their confidential sources after narrowing the definition of a journalist and establishing which formats – traditional and online – provide news to people worldwide. On a 13-5 vote, the Judiciary Committee cleared the way for the full Senate to consider the measure. The vote came just months after the disclosure that the Justice Department had secretly subpoenaed almost two months’ worth of telephone records for 21 phone lines used by reporters and editors for The Associated Press and secretly used a search warrant to obtain some emails of a Fox News journalist.

The Associated Press and New York Times contributed.

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