FMC settles for $170M

Article Abstract:

FMC, a chemicals conglomerate based in Chicago, IL, has conformed to pay $170 million to settle charges accusing the firm of violating hazardous waste regulations at the company's phosphorus factory near Pocatello, ID. The settlement includes a civil penalty amounting to $11.8 million, the biggest under the federal law covering hazardous waste. The rest of the settlement money will be used to clean up hazardous waste ponds, reduce emissions, construct a waste treatment plant and study how the company's activities have affected human health and environment.

Comment:

Conforms to pay $170 mil to settle charges accusing firm of violating hazardous waste regulations at its phosphorus plant in ID

All Other Basic Inorganic Chemical Manufacturing, Idaho, Phosphorus & Compounds, FMC Corp., Article

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Hearing today tackles steelmakers' request for faster relief

Article Abstract:

Steel manufacturers are waiting for faster government response on their complaint about the rapid surge of cheap imported steel into the US, which make it more difficult for these companies to compete. With the current law, it could take over a year before actions are taken, but the Senate is set to have a caucus to find faster relief for US steelmakers. Should the government agree with steel companies, it could push for tariffs on steel from Japan, Russia and Brazil, which are bringing steel in the US at low cost.

Iron and Steel Mills, Steel Mill Products, Steel products

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Investors brace for a rate increase

Article Abstract:

Stock and bond markets closed lower on May 27, 1999 due to invetors' concerns that the Federal Reserve would increase interest rates to prevent the economy from overheating, which would then result in higher inflation. The economy continues to be strong as evidenced by increasing business investments and mortgage applications. The Fed will increase interest rates if stock prices continue to fall which would dampen economic growth.

Public Finance Activities, Federal Reserve System

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