Business News for Saturday January 1, 2011

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Europe's ban on animal testing delayed LONDON (UPI) -- A British member of Parliament said the cosmetic industry is dragging its feet when it comes to finding alternatives to animal testing of cosmetic ingredients. Neil Parish, chair of a parliamentary group for animal welfare, said it is unlikely a Europe-wide ban on the sale of cosmetics tested on animals will become a reality until 2017, four years later than expected, The Guardian reported. "For too long the cosmetics industry has dragged its feet when it ... Continue Reading... Post a Comment | Share | Print Estonia swaps kroons currency for euro TALLINN, Estonia (UPI) -- The first day of 2011 saw Estonia become the first former Soviet state to replace its currency, the kroon, with the euro. The small Baltic country of 1.3 million people joined the European Union in 2004, more than 15 years after the collapse of the Soviet Union, the BBC said. Speaking in the capital, Tallinn, Prime Minister Andrus Ansip called the currency transition "a small step for the eurozone and a big step for Estonia," the report said. ... Continue Reading... Post a Comment | Share | Print California firm recalls ground beef WASHINGTON (UPI) -- A California meat producer, First Class Foods Inc., is recalling 34,373 pounds of potentially contaminated ground beef, U.S. safety officials said Friday. The beef, sold as organic ground beef, may contain a strain of E. coli, the U.S. Department of Agriculture's Food Safety and Inspection Service said. The Hawthorne, Calif., company is recalling 16-ounce packages labeled "Nature's Harvest Organic Ground Beef Brick," which are dated to be used or frozen... Continue Reading... Post a Comment | Share | Print Advertisement Free Bottle Of Excedrin Extra Strength Clean Windshields without Straining or Stretching Pimco settles class-action lawsuit CHICAGO (UPI) -- Investment management firm Pimco said it would pay $92 million to settle claims that it manipulated the U.S. bond market in 2005. The class-action case was filed in Chicago by Breakwater Trading and two investors who complained Pimco -- the Pacific Investment Management Co. of Newport Beach, Calif. -- had created an "artificial scarcity" in 10-year treasury notes, the New York Times reported Friday. Pimco, in a statement, denied wrongdoing. The ... Continue Reading... Post a Comment | Share | Print     More Headlines • Morales explains end to fuel subsidies • U.S. stocks close out a positive year • Gold makes gains to close out the year • Crude oil prices push above $91 • Television makers settle case in Calif.     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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