Hearst is giving $1 million to area Red Cross
Hearst Corp. is donating $1 million to the Greater Houston Red Cross to help with relief efforts across the region.
The New York-based owner of the Houston Chronicle and many other media properties also said it would match every dollar its employees donate up to another $1 million.
“Our prayers are with the families of those who have lost loved ones,” Hearst President and CEO Steven R. Swartz said. “Our thoughts and efforts are with those who continue to provide vital rescue and aid efforts, work that will no doubt go on for months.”
The American Red Cross is aiding Hurricane Harvey victims, organizing volunteers, and providing food, shelter, emergency supplies and more.
To make your own donations, visit www.redcross.org or call 800-REDCROSS.
EPA official accused of bank violations
WASHINGTON — A high-ranking political appointee at the Environmental Protection Agency has been cited by federal financial regulators for unspecified violations while serving as the top executive at a community bank in Oklahoma.
Albert “Kell” Kelly was hired earlier this year as a senior adviser to EPA Administrator Scott Pruitt. Kelly was previously the chairman of Tulsa-based SpiritBank, where he worked for 34 years.
An order Friday by the Federal Deposit Insurance Corp. bars Kelly from working for any U.S. financial institution after regulators determined they had grounds to believe he violated laws or regulations, leading to a financial loss for his bank. The order does not specify what Kelly did. Without admitting wrongdoing, Kelly also agreed to pay a $125,000 penalty.
Perfumania files for bankruptcy protection
BELLPORT, N.Y. — Fragrance seller Perfumania has filed for bankruptcy protection and plans to close 65 of its 230 stores as it focuses more on selling online.
The mall-based retailer plans to offer investors $2 per share as it converts to a private company. The stock surged more than 40 percent Monday to close at $1.87.
Man sues Aetna after his HIV status revealed
PHILADELPHIA — A Pennsylvania man is suing health insurer Aetna, saying his sister learned he was taking HIV medication after the company mailed him an envelope with a large, clear window that showed information on where to purchase the drugs. The lawsuit filed Monday in U.S. District Court in Philadelphia is seeking class-action status. Last week, the company said it was reviewing processes to ensure such a mistake never happens again.
New York’s price for cigarettes goes to $13
NEW YORK — Mayor Bill de Blasio has signed legislation raising the minimum price for a pack of cigarettes to $13 in New York City.
Health Department officials say the hike from $10.50 will make the city the most expensive place to buy cigarettes in the country. The price increase is part of a package of anti-smoking bills signed Monday, but opponents of the price hike say it will push even more smokers to the black market.
California may boost electric car rebates
SACRAMENTO, Calif. — California could spend up to $3 billion under a bill that would widely expand its consumer rebate program for zeroemission vehicles. The Legislature is pushing forward a bill that could lift rebates from $2,500 to $10,000 or more for a compact electric car. Current rebates have done little to boost sales.
Gilead Sciences agrees to buy Kite Pharma
NEW YORK — Gilead Sciences will pay $11.9 billion in cash to buy Kite Pharma and plant a stake in an emerging area of cancer treatments that train a patient’s immune cells to attack tumors.
Congressman investigated in trading case
WASHINGTON — The House Ethics Committee on Monday confirmed an investigation of Republican Rep. Chris Collins of New York after an advocacy group complained of possible insider trading.
In January, the advocacy group Public Citizen filed a request for an investigation of possible insider trading and ethics violations with the Office of Congressional Ethics, as well as the Securities and Exchange Commission.
The House panel said it needs more time to review the report. The panel said the mere fact of a referral or an extension and the mandatory disclosure of such an extension do not indicate that any violation occurred.
In other news …
• The Treasury Department auctioned $39 billion in threemonth bills at 1.020 percent, up from 1.000 percent last week. Another $33 billion in sixmonth bills was auctioned at 1.115 percent, flat from last week.
• The Federal Reserve said the average yield for one-year Treasury bills was flat at 1.23 percent.