When Hostess Brands Inc. went bankrupt in 2012, it triggered anxiety among employees at Ottenberg’s Bakery, a family-owned enterprise in Maryland. The companies shared a pension plan, and if Hostess couldn’t pay its retirees, Ottenberg’s would have to pick up the tab.
Frigid weather will stay locked in across the central U.S. through first week of March, making this one of the coldest starts to the month in more than a decade, said Matt Rogers, president of the Commodity Weather Group LLC.
West Texas Intermediate crude’s discount to Brent narrowed to the least since October before data forecast to show that distillate fuel inventories declined for a seventh week in the U.S., the biggest oil consumer.
Sugar fell for the first time this week in New York as traders took profits before the return of rains to growing areas of leading producer Brazil, where dryness threatens to cut this year’s crop. Coffee slid.
U.S. Defense Secretary Chuck Hagel said his “considerable reservations” about the Littoral Combat Ship led him to bar planning for any more than 32 of the vessels, 20 fewer than the Navy’s $34 billion program.