Caterer Reaches Deal With Union
Gate Gourmet, which supplies food to airlines at London's Heathrow Airport, said it has reached a "nonbinding framework" agreement with a labor union that may resolve a dispute that has caused widespread disruption to its catering operations. The company said it plans "a voluntary redundancy program" that will aim to reduce the "workforce to levels agreed upon by the union that will make the company economically viable."
Resolution of the labor dispute may prevent a repeat of the strike at Heathrow on Aug. 11 and 12 that crippled British Airways' operations.
Treasury Official to Make Trip to China, Japan
Timothy D. Adams, the Treasury's chief policymaker for international issues, will make his first trip to Asia next week to meet counterparts in Japan and China for discussions of economic growth, currency reform and international development in the region.
Adams will be in Tokyo on Monday and Tuesday. He then travels to China for a meeting of deputy finance ministers from the Group of 20, a collection of the world's wealthiest economies, and to meet with Chinese officials. Treasury spokesman Tony Fratto said that in China "the currency, of course, will be discussed."
Ex-Investment Manager Pleads Guilty
Consuelo Marquez, a former investment manager at Lehman Brothers, pleaded guilty to helping Mario Villanueva Madrid, the former governor of the Mexican state of Quintana Roo, launder $11 million in drug money. The governor took the money in exchange for providing police support and other help to the notorious Juarez drug cartel as its massive cocaine shipments traveled through his state, prosecutors said.
Compiled from news service reports.