Syngenta corn suit
settlement advances
U.S. District Judge John Lungstrum of Kansas on Tuesday approved the proposed $1.5 billion settlement of a nationwide class-action lawsuit over Syngenta's genetically modified corn seed.
"I think this is a very good result for Arkansas corn producers and corn producers in the United States," said John Emerson, a Little Rock attorney representing several Arkansas farmers. "We won't know yet how they will fare in terms of actual dollars in their pockets. ... This will get worked out over the next year."
Thousands of corn producers, some 1,500 grain handlers and more than 180 ethanol producers across multiple states alleged they lost sales of between $1 billion and $3 billion because of Syngenta.
They alleged that prices for U.S. corn and corn products fell dramatically after China in November 2013 began rejecting shipments of U.S. corn tainted by genetically modified seeds.
-- Stephen Steed
Postmates to deliver
Walmart groceries
Walmart Inc. is working with San Francisco-based Postmates as part of its plans to offer grocery delivery services to more than 40 percent of U.S. households by the end of the year.
The Bentonville retailer and the delivery firm began working together on grocery deliveries in Charlotte, N.C., on Tuesday, according to Walmart. The grocery delivery partnership will be expanded over the next few months.
The service allows customers to select groceries online. Walmart's personal shoppers prepare the orders for delivery and Postmates -- which was founded in 2011 and completes about 2.5 million deliveries a month -- handles delivery.
Orders carry a $9.95 delivery fee and must be a minimum of $30.
Walmart announced last month its plans to expand grocery delivery to about 800 stores by the end of the year.
-- Robbie Neiswanger
Truckers lead way
as index adds 8.00
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 8.00 to 401.09 Tuesday.
Shares of USA Truck and P.A.M. Transportation were each up more than 5 percent.
"Stocks surged after calmer rhetoric from President Donald Trump and Chinese President Xi Jinping aimed at reducing the escalating pressure from the trade tensions between the world's biggest economies," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 04/11/2018