Container traffic up at Port Houston
Port Houston loaded 271,182 outbound containers during the first quarter, up 17.7 percent from the same period last year, according to Colliers International.
Loaded inbound containers increased 26.5 percent to 243,192 TEUs, an industry term that stands for 20-foot equivalent units.
“Occupier interest, development activity and leasing on the far-east side of Houston have recently accelerated,” said Gary Mabray, a principal with Colliers International in Houston. “The majority of that activity can be tied directly to the Port of Houston and its significant economic contribution, fueling 2.7 million jobs and $617 billion in activity.”
Freddy’s plans to open location in League City
Freddy’s Frozen Custard & Steakburger has secured a site for a new location in League City.
The company has leased 1.1 acres in Bay Colony Town Center at Interstate 45 and FM 646 from NewQuest Properties. Rebecca Le of NewQuest Properties represented the landlord.
Founded in Wichita, Kan., in 2002, Freddy’s has grown to nine locations in the Houston area. Others are planned to open soon in Pasadena and Pearland.
Administration hollows out EPA science board
WASHINGTON — The Trump administration will not reappoint half the expert members of a board that advises the Environmental Protection Agency on the integrity of its science.
Board of Scientific Counselors Chairwoman Deborah Swackhamer said Monday that nine of the 18 outside experts on her panel saw their three-year terms expire April 30. She said that in past they would routinely have been reappointed to a second term.
Bumble Bee Foods will pay $25 million fine
Tuna-canning company Bumble Bee Foods has agreed to pay a $25 million fine after pleading guilty to conspiring with competitors to fix prices, the U.S. Department of Justice said Monday.
The San Diego-based company will also cooperate with an ongoing antitrust investigation into the packaged seafood industry.
Target testing a restocking delivery program
Target is testing a program that lets customers order household essentials like laundry detergent, paper towels and peanut butter and have them delivered to their homes the next day. The service, being tested with employees for now, is similar to Amazon Pantry.
Former bank executive cleared of civil charges
MIAMI — A federal jury has cleared a former bank executive of civil charges brought by the Securities and Exchange Commission.
Monday’s verdict exonerating former BankAtlantic CEO Alan Levan follows a six-week trial in Miami. Charges against Levan date back to 2007, at the start of the real-estate market crash and subsequent financial crisis. The SEC had accused Levan of making false statements about the performance of real estate loans held by BankAtlantic during a July 2007 conference call.
In other news …
• The Treasury Department auctioned $39 billion in three-month bills at a discount rate of 0.9 percent, up from 0.845 percent last week. Another $33 billion in sixmonth bills was auctioned at 1.015 percent, up from 0.975 percent.
• The Federal Reserve said the average yield for one-year Treasury bills rose to 1.10 percent from 1.09 percent.