Business news briefs
deal with Ryanair
Boeing has signed an order for 175 single-aisle 737s, its biggest deal so far this year, from the European low-cost carrier Ryanair. The agreement is valued at $15.6 billion at current list prices. Analysts estimate that Ryanair probably paid closer to $40 million per jet instead of the $89.1 million as listed.
U.S. builders started more homes in February, and permits for future construction rose at the fastest pace in 4Â½ years. The increases point to a housing recovery that is gaining strength. Builders broke ground on houses and apartments last month at a seasonally adjusted annual rate of 917,000, the Commerce Department said Tuesday. That's up from 910,000 in January.
over fur in clothes
Neiman Marcus, DrJays.com Inc. and Revolve Clothing have agreed to settle charges that they claimed certain products were made of "faux" fur when they actually contained real fur. The Federal Trade Commission said rabbit fur products actually were made of mink fur. The companies also failed to disclose the animal where the fur came from for three products a Burberry Outerwear jacket, a Stuart Weitzman ballerina flat shoe and an Alice + Olivia Kyah coat.
up 11 percent
Deerfield, Ill.-based drugstore chain Walgreen Co. said its second-quarter earnings climbed 11 percent, helped by contributions from Alliance Boots, a business sale gain, and its new contract with Express Scripts Holding Co. Walgreen is also expanding its supply agreement with AmerisourceBergen Corp. through a 10-year deal.
factory in China
Lego is building its first factory in China as part of a plan to move production closer to Asia, its fastest growing market. The Danish toy maker is investing at least 100 million euros ($130 million) in the new plant. Construction will start in 2014 and be operational in 2017. The factory will be located in Jiaxing, southwest of Shanghai.
Citigroup has agreed to pay $730 million to settle a class-action lawsuit that claimed investors were misled by the bank's disclosures when they purchased its debt and preferred stock. Citigroup denied the allegations and said it agreed to settle to get rid of further expenses and uncertainties that come with drawn-out litigation.
leaks in Mercedes
Federal safety regulators are investigating reports of fuel leaks in about 250,000 Mercedes-Benz E-Class cars. The government says fuel may be leaking from the upper part of the gas tank and will determine if a recall is needed. The investigation affects vehicles from the 2003 to 2008 model years.
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