Mexico said new U.S. rules for meat labeling were even more onerous than a set of regulations that the World Trade Organization (WTO) declared were unfair in June 2012, the ministry said in an emailed statement.
The Obama administration unveiled the new rule on Thursday, the final day to comply with the WTO decision that upheld complaints by Canada and Mexico. - More
Household-products giant Procter & Gamble Co., which sells Crest and Pampers, changed leaders Thursday, but it was unclear whether that would affect a joint venture with Teva Pharmaceutical Industries Ltd.
The two men leading the companies when PGT Healthcare was announced in March 2011 are both gone. - More
Twitter has added two-factor authentication to its social network, bolstering security after several high-profile account hacks including the Associated Press.
Users can set up the security measure by going into their Account Settings and choose to have a verification code sent to a smartphone. - More
Target Corporation (NYSE:TGT) posted a lower-than-expected earnings performance for the first quarter of fiscal 2013. The company said that soft sales and weather related categories affected its results.
The company reported an income of $498 million or $0.77 per share for the first quarter.
During the same period last year, Target Corporation reported a profit of $697 million or $1.04 earnings per share. - More
A day after a Senate report blasted Apple for not paying U.S. taxes on billions of dollars in overseas income, Cook insisted that Apple pays the taxes it legally owes.
“There’s no shifting going on,” said Cook in his first appearance before Congress. “We pay all the taxes we owe, every single dollar.” Read recap of hearing on live blog. - More
Google is set to introduce a subscription music feature to compete against fast-growing streaming services like Spotify, according to several people briefed on its plans.
Google is planning to introduce the new service as early as Wednesday at Google I/O, the company’s annual conference for software developers. - More
A federal judge has again ordered Wells Fargo to pay $203 million to settle class action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an award that had been thrown out last year.
U.S. District Judge William Alsup reinstated on Tuesday a penalty he first imposed in August 2010, saying the fourth-largest U.S. bank violated a California law that protects consumers against fraudulent misrepresentations. - More
Deere & Co. reported higher-than-expected quarterly results on Wednesday and forecast a record profit for the full year, but it said it was cautious because of weakness in the construction market.
The company, the world’s largest maker of farm equipment, slashed its forecast for sales to the construction industry, citing concerns about the outlook for U.S. economic growth and other factors. - More
Mexican shorter-term bond yields declined to record lows on speculation policy makers will further reduce benchmark borrowing costs amid signs of slowing economic growth.
Yields on peso bonds due in December 2014 dropped two basis points, or 0.02 percentage point, to 3.77 percent at 10:22 a.m. in Mexico City, according to data compiled by Bloomberg. - More
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