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Bed Bath & Beyond warns about potential bankruptcy

NEW YORK (AP) — Struggling Bed Bath & Beyond warned on Thursday that the home goods retailer may need to file for bankruptcy as sales continue to drop and it struggles to attract shoppers. The Union, New Jersey-based company said that it’s looking at several options including selling assets or restructuring its business in bankruptcy court, but it acknowledged that even those efforts may not be successful. Shares lost a quarter of their value on the news to trade at $1.82, their lowest level since November 1992. “There is substantial doubt about the company’s ability to ...

Peloton agrees to pay $19 million in fines over treadmill defect

By ANNE D’INNOCENZIO The Associated Press NEW YORK — Exercise equipment maker Peloton Interactive has agreed to pay roughly $19 million in fines related to its delay in reporting a defect for its treadmills that caused one death and multiple injuries, the federal consumer watchdog said Thursday. The Consumer Product Safety Commission said that the fine resolves the agency’s charges that Peloton knowingly failed to immediately report to the Commission as required by law, that its Tread+ treadmill contained a defect that could create a substantial product hazard and created ...

FTC proposes rule that would ban noncompete clauses

By ALEXANDRA OLSON and MICHELLE CHAPMAN The Associated Press The Federal Trade Commission proposed a rule Thursday that would ban U.S. employers from imposing noncompete clauses on workers, a sweeping measure that could make it easier for people to switch jobs and deepen competition for labor across a wide range of industries. The proposed rule would prevent employers from imposing contract clauses that prohibit their employees from joining a competitor, typically for a period of time, after they leave the company. Advocates of the new rule argue that noncompete agreements ...

Boston Metal set to expand in Brazil

Business Wire BOSTON — Boston Metal, a global metals technology solutions company, will deploy its molten oxide electrolysis (MOE) platform technology to recover high-value metals from mining waste in Brazil. Boston Metal do Brasil, a wholly owned subsidiary, opened in August and construction is underway on facilities in the municipality of Coronel Xavier Chaves near São João del Rei, Minas Gerais. Boston Metal’s patented MOE technology uses electricity to selectively extract valuable metals from complex, low-concentration materials that are currently considered waste. This ...

Coinbase to pay $100M in settlement with regulators

NEW YORK (AP) — New York announced a $100 million settlement with Coinbase on Wednesday over what state officials called significant failures in the cryptocurrency trading platform’s systems for spotting potential criminal activity. According to the state Department of Financial Services, Coinbase’s anti-money-laundering program and its system for monitoring transactions for suspicious activity were inadequate for a company of Coinbase’s size and complexity. The department said that the volume of alerts generated by Coinbase’s transaction monitoring system grew so fast that ...

Feds say railroad must deliver grain to California chickens

OMAHA, Neb. (AP) — Federal regulators have ordered Union Pacific railroad to make sure a livestock producer gets the grain it needs in California to prevent millions of chickens and hundreds of thousands of cattle from starving. The U.S. Surface Transportation Board told the railroad it must improve service to Foster Farms to keep it from running out of feed for livestock it raises. It’s is the second time in the past year regulators issued an emergency order related to delivery problems at Foster Farms, which is based in Livingston, California, as the railroad struggled with a ...