Coming Sunday: A look at some businesses who were in demand after this week’s floods.
Bausch and Lomb to add 30 jobs in Greenville
Bausch and Lomb plans to spend at least $20 million and add about 30 jobs as part of an expansion at its contact lens solution plant in Greenville, according to an incentives deal negotiated between the company and Greenville County. Bausch and Lomb has invited news media to the plant on Tuesday for a celebration of the 4 billionth bottle of eye care product manufactured there.
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▪ Volkswagen could compensate owners of diesel-powered cars that emit high levels of pollutants, possibly by paying them for the lost value of their vehicles, the company’s top U.S. executive said. Speaking to lawmakers investigating the emissions cheating, U.S. CEO Michael Horn also said fixing most of the 500,000 affected cars in the U.S. could take one to two years, possibly more. The fix, he said, would not hurt fuel mileage, but it could hinder the cars’ performance, knocking one or two miles-per-hour off the top speed.
▪ Mainstream Republicans have teamed up with Democrats to assure a House vote on reviving the U.S. Export-Import Bank, giving it new life more than three months after its charter lapsed. The development came after supporters of the bank got a majority of the House to sign a petition to dislodge the issue from a powerful panel controlled by an opponent of reviving the bank. The bank helps finance sales of U.S. exports to foreign customers.
▪ The head of the Federal Reserve Bank of New York said Friday that a Fed rate hike remains likely this year but that a final decision will depend on how the economy performs. In an interview with CNBC, William Dudley said he expects solid U.S. economic growth to offset weakness overseas, which is hurting U.S. exports. But he said the economy will need to further improve for the Fed to raise rates from record lows.