Wal-mart recalls beef patties
MINNEAPOLIS, Oct. 6 (UPI) -- Wal-Mart Stores Inc. has recalled American Chef's Selection Angus Beef Patties after four children were sickened with E. coli infections in Minnesota.
The national recall issued Friday pertains to any of the beef patties bought from any Sam's Club after Aug. 26, the St. Paul (Minn.) Pioneer Press reported Saturday.
International food maker Cargill Inc., based in Minneapolis, makes the patties sold at Sam's Club, which is owned by Wal-Mart.
The children, one of whom remains hospitalized, were sickened from hamburger patties sold at Sam's Club stores in Egan, Maple Grove and White Bear Lake, Minn., the Pioneer Press reported.
"Four cases is a pretty small outbreak, but what we hear about is always the tip of the iceberg," said Dr. Kirk Smith, supervisor of the Minnesota Health Department's Foodborne Diseases Unit.
There was no evidence the Minnesota E. coli outbreak was related to the national recall of nearly 22 million pounds of frozen hamburger from Topps Meat Co. The New Jersey-based Topps announced Friday it is closing after 67 years because of its recall, the second-largest in U.S. history.
Big loss at Merrill Lynch
NEW YORK, Oct. 6 (UPI) -- Investors reacted positively to Merrill Lynch's news that it would write down $5 billion primarily in subprime and other risky loans.
News of the investment firm's first loss since the end of the technology boom increased the price of its stock as investors appeared relieved that Merrill had provided information about its problems and a belief that the worst was over, The New York Times reported Saturday.
Shares rose $1.89, to $76.67 by close of business Friday. Merrill estimated it would lose up to 50 cents a share for the quarter, compared with a profit of $3.17 a share, or $3 billion, for the quarter a year ago, the Times reported.
The size of the loss was second only to the $5.9 billion taken by Citigroup, which is three and a half times the size of Merrill, the Times said.
Rating agencies Moody’s and Fitch downgraded Merrill’s long-term debt outlook to negative from stable, with Moody's saying the quality of risk management at Merrill Lynch had diminished.
Law firm to pay $27.5-million settlement
CHICAGO, Oct. 6 (UPI) -- Legal giant Sidley Austin's decision to pay $27.5 million in an age discrimination case has set important precedent, says a U.S. employment commission.
"The demographic changes in America assure that we will see more opportunities for age discrimination to occur," said Ronald S. Cooper, general counsel for the Equal Employment Opportunity Commission.
Therefore, it is increasingly important all employers understand older workers are protected under the Age Discrimination in Employment Act, Cooper said.
Chicago-based Sidley Austin Friday agreed to pay $27.5 million to 32 former partners over the age of 40 who had their pay cut and then were told to leave the firm, the Los Angeles Times reported Saturday.
The case was closely watched because of a widely held belief in the legal profession that firm partners are "employers" and therefore not covered by federal anti-discrimination laws, the Times reported.
"Anyone who is in a position where they can be forced out because of age should be considered an employee," said Catherine Fisk, a Duke University law professor and employment law specialist.
Ukrainian gas to be transferred to Gazprom
KIEV, Ukraine, Oct. 6 (UPI) -- Natural gas to be transferred to Russia's Gazprom will count as $600 million in credit against the more than $1.3 billion debt owed by Ukraine, a report said.
The debt was incurred as companies working in Ukraine failed to pay Gazprom for natural gas stored in Ukrainian underground tanks, Ukrainian Fuel and Energy Minister Yuri Boiko said in a interview Saturday.
A protocol to be signed Monday transfers $600 million in gas from Ukraine to Gazprom with settlement terms for the rest of the debt yet to be determined, Itar-Tass reported Saturday.
Gazprom Friday told its European partners gas supplies for Ukrainian consumers would be reduced if the Ukrainian government did not reach a settlement agreement in October, Itar-Tass said.
