Modest rise in price index
WASHINGTON — Consumer prices increased at a modest pace in February, underscoring that inflation pressures appear to be muted for now.
The consumer price index increased 0.2 percent last month, after a sharp 0.5 percent gain in January, the Labor Department said Tuesday. Core prices — which exclude the volatile food and energy categories — also climbed 0.2 percent. Overall consumer prices rose 2.2 percent in February from a year earlier, while core prices rose 1.8 percent from a year ago for the third straight month.
Teams selected for Rice Business Competition
Forty-two teams from universities around the world have been selected to compete in the 18th annual Rice Business Plan Competition.
The teams, chosen out of 300 applicants, will vie for more than $1 million in prizes.
Categories include life sciences, information technology and tech innovation.
The winner of the competition, held April 5-7, will take home a grand prize valued at more than $450,000, including seed funding and the opportunity to ring the closing bell at Nasdaq MarketSite in New York City.
The company representing the best investment opportunity is the winner.
Settlement in suit over modified corn seed
KANSAS CITY, Mo. — A $1.5 billion settlement has been reached in a class-action lawsuit covering tens of thousands of farmers, grain-handling facilities and ethanol plants that sued Swiss agribusiness giant Syngenta over its introduction of a genetically engineered corn seed.
The plaintiffs said Syngenta's decision to introduce its modified Viptera and Duracade corn seed strains to the U.S. market for the 2011 growing season before having approval for import by China in 2014 caused price drops for several years.
Group wants to protect women in newsrooms
NEW YORK — A support network for victims of sexual misconduct in newsrooms has appointed an advisory board that includes CNN's Jake Tapper and PBS' Judy Woodruff and wants to fund a study to give news organizations specific ideas on keeping women safer.
The group Press Forward launched a website Tuesday and was hosting a panel discussion at the National Press Club in Washington that included Tapper, Woodruff and former ABC “Nightline” host Ted Koppel.
The group of sexual misconduct victims in journalism came together late last year following stories that led to the firings of well-known figures including Matt Lauer of “Today,” Charlie Rose of “CBS This Morning” and NBC News' Mark Halperin. Now they want to go beyond providing each other support.
Repsol opens gas stations in Mexico
MEXICO CITY — Spain’s Repsol has opened its first gas stations in Mexico and says it’s aiming for up to 10 percent market share within five years.
Before 2016, all gas stations in Mexico operated under the brand of state oil company Pemex. But an energy overhaul pushed through by President Enrique Pena Nieto now allows competition.
Some private Mexican companies and BP have since opened their own stations in the country. Exxon Mobil also has plans to open stations in Mexico this year.
Dropbox gets closer to its market debut
Dropbox, the online file storage company, is poised to hold one of the year’s most highly awaited stock market debuts.
The San Francisco company said this week that it planned to raise as much as $648 million in its initial public offering, pricing its shares between $16 and $18 each.
At the midpoint of that range, Dropbox would be valued at $7.5 billion.
Dick's says new gun policy will reduce sales
CORAOPOLIS, Pa. — Dick's Sporting Goods reported disappointing holiday sales numbers in part due to weak demand for one-time hot brands like Under Armour.
The company's CEO also said recent changes to its firearm policies, ending the sale of guns to anyone under 21, will hurt future sales and may cause fewer shoppers to come to its stores.