Roundup: Trader Joe's Recall; Ernst & Young to Pay $117.6M; Small Business Lending Up; More
Small business lending picks up in October
Small business owners borrowed more in October, a sign that they might be getting more confident about hiring. Lending to small companies rose 11 percent from September's level, according to a survey released on Monday by PayNet, which provides credit ratings on small businesses. Small business lending has been erratic recently, dropping in September after increasing in July and August. The Thomson Reuters/PayNet Small Business Lending index, which is based on new commercial loans and leases granted to small businesses, rose to 107.5 from a revised 96.4.
Trader Joe's recall: Suspect frozen chicken affects 14 states
Supermarket chain Trader Joe's is recalling boxes of a frozen chicken dinner because of possible contamination with listeria. The product, Trader Joe's Butter Chicken with Basmanti Rice, was sold to stores in 14 eastern states, including Pennsylvania, and the D.C. area. "All code dates of this product have been removed from sale and destroyed," Trader Joe's told customers via an update on its website. "To date, we have received no reports of illness related to this product." The affected meals were produced on Oct. 31. Customers with questions should call Trader Joe's at 626-599-3817.
Ernst & Young to pay $117.6M
Ernst & Young LLP agreed to pay $117.6 million to settle shareholder claims regarding its audits of Sino-Forest Corp., the tree-plantation company that filed for bankruptcy protection this year. The settlement was announced on the same day that the Ontario Securities Commission, Canada's top securities regulator, said in a statement that Ernst & Young's audits of Hong Kong- and Mississauga, Ontario-based Sino-Forest weren't in accordance with accounting industry standards. …