Business news briefs
gets 5 stars
Draper-based software company, StorageCraft Technology Corporation, which provides backup and disaster-recovery software, was awarded a 5-star rating from Channel Reseller News, a trade publication for IT professionals. The ratings are determined by program offerings, profitability, training, education and support, among other criteria.
U.S. trade deficit
narrowed in Feb.
The U.S. trade deficit narrowed to $43 billion in February as exports approached an all-time high and the volume of imported crude oil fell to the lowest level in 17 years. Exports rose to $186 billion, close to the record high set in December. Stronger exports of U.S. energy products and autos offset declines in airplanes and farm equipment. Imports were flat at $228.9 billion.
fix draws near
Boeing put its 787 battery fix through a "final" flight test on Friday and said it will soon submit the data to regulators, who the aircraft maker hopes will sign off on the new battery system and allow the 787 back in the air. The Dreamliner has been grounded since mid-January because of smoldering batteries that, in one case, caused a serious fire on the tarmac in Boston.
MF Global gets
OK to liquidate
MF Global's parent company has won court approval for its liquidation plan. Judge Martin Glenn approved the plan Friday in U.S. bankruptcy court in Manhattan. MF Global Holdings Ltd., collapsed in late 2011. The firm failed after a calamitous $6.3 billion bet on bonds issued by debt-burdened European countries.
Electric car maker Fisker Automotive has laid off about three-fourths of the workers at its California headquarters as it struggles with financial and production problems. Last month, a company co-founder resigned and Fisker furloughed its staff of about 220 for one week. The company said it plans to keep about one quarter of its workforce.
Judge refuses to
block BP payouts
A federal judge has rejected BP's request to block billions of dollars in settlement payouts to businesses who claim the 2010 oil spill in the Gulf of Mexico cost them money. BP argued that a court-appointed claims administrator made decisions that exposed the company to fictitious losses that were never contemplated in the settlement. But plaintiffs' attorneys argued the oil giant's allegations were baseless.
Tyson to pay
$4M to EPA
The U.S. government said Tyson Foods agreed to pay roughly $4 million in civil penalties to settle alleged Clean Air Act violations related to eight accidental releases of anhydrous ammonia between 2006 and 2010 at its sites in Missouri, Kansas, Iowa and Nebraska that resulted one death.