Nation & World
Thai Union buying Bumble Bee
San Diego-based Bumble Bee Seafoods is being scooped up by the world’s largest canned seafood company. Thai Union Frozen Products said it’s buying the Southern California firm for $1.51 billion from private equity firm Lion Capital. Bumble Bee was founded in 1899, has annual sales of about $1 billion and employs more than 1,300. The companies expect the deal to close in the second half of 2015.
Staples airs breach details
Staples Inc. says nearly 1.2 million customer payment cards may have been exposed during a security breach earlier this year. The office supply retailer announced in October that it was looking into a potential credit card breach, adding to a long list of retailers recently hit by cyberattacks. Staples said Friday that an investigation shows that the criminals used malware that may have allowed access to information for transactions at 115 of its U.S. stores.
Chrysler reluctantly OKs recall
After resisting for several weeks, Chrysler is bowing to government demands to expand a recall of driver’s side air bag inflators across the entire nation. The company says in a statement Friday that it will recall nearly 2.9 million older cars and trucks across the U.S., as demanded by the National Highway Traffic Safety Administration. The vehicles have driver’s air bags equipped with inflators made by Japan’s Takata Corp. that can explode with too much force and spew shrapnel at drivers and passengers.
MetLife to get special oversight
Federal regulators Friday designated MetLife Inc. for special oversight, saying the insurer is so big that its failure or other major problems would pose a threat to the U.S. financial system. In a 9-1 vote, the Financial Stability Oversight Council – a panel of top regulators chaired by Treasury Secretary Jacob J. Lew – determined that MetLife was a systemically important financial institution.
PacifiCorp pleads guilty, fined
Wind farm operator PacifiCorp Energy will pay $2.5 million in fines after pleading guilty to charges in connection with the deaths of protected birds in Wyoming. The company, a subsidiary of Portland, Oregon-based PacifiCorp, pleaded guilty Friday to two counts of violating the federal Migratory Bird Treaty Act under a plea deal with prosecutors. The U.S. Justice Department says 38 golden eagles and 336 other protected birds have been found dead at the company’s wind projects in Carbon and Converse counties from 2009 until now. The bulk of the fine money will pay for projects to preserve golden eagles.
EU files trade case over Boeing
The European Union filed a new trade case against the United States on Friday, alleging “billions of dollars” in illegal subsidies to the aircraft maker Boeing, the World Trade Organization said in a statement. The European case asserts that a package of tax breaks offered by Washington state to induce Boeing to build its planned 777X jet there would violate WTO rules and give the U.S. plane-maker an unfair advantage over its European archrival, Airbus.