From our wire services
Nine owners and managers of 7-Eleven stores across Long Island and in Virginia were charged in a scheme to exploit immigrants from Pakistan and the Philippines, in part by paying them using stolen Social Security numbers while stealing most of their wages. Most of the defendants were arrested early Monday as federal authorities raided 14 franchise stores.
Oil at year's high
The price of oil climbed 37 cents to a high for the year of $98.22 a barrel amid concerns over an escalation in the civil war in Syria. In the U.S., the average price for a gallon of gasoline dropped about 1.5 cents to $3.61.
Pa. table win
The Pennsylvania Gaming Control Board says table games generated $72.7 million in May, up 14 percent from the same period last year. The increase was fueled by a 27 percent gain at Sands Casino Resort Bethlehem and a 52 percent increase at the Meadows Racetrack and Casino in western Pennsylvania, as well as growth at the newest casino, Valley Forge Casino Resort.
Health cost growth
A report from accounting and consulting firm PwC projects lower overall growth in medical costs for next year, even as the economy gains strength and millions of uninsured people receive coverage under Pres-ident Barack Obama's health care law. The report said self-employed people and others who buy coverage individually could well see an increase in premiums in 2014.
Airbus and Boeing won pledges for big purchases of their lucrative long-haul wide-body jets at the Paris Air Show, raising hopes that demand is recovering following the worldwide recession. Boeing said GECAS, the aircraft leasing arm of General Electric, has made a promise to buy 10 of its 787 jets worth more than $2.4 billion at list prices.
Fed words awaited
When he takes questions Wednesday after a Federal Reserve meeting, Chairman Ben Bernanke will confront investors' fear that rates are headed higher. Many fear that a pullback in the Fed's bond purchases could boost long-term rates, trigger a stock selloff and perhaps weaken the economy.
Stocks watch Fed
Investors on Monday guessed the Federal Reserve on Wednesday will continue trying to prop up the economy, and sent stocks higher. Investor think Fed policymakers will determine that the economy isn't recovering fast enough, and so keep pushing investors into stocks.
Netflix TV deal
Netflix is going to start running original television series from Dreamworks Animation. The multiyear agreement is its biggest deal ever for original first-run content and includes more than 300 hours of new programming.
Google has resolved a shareholder lawsuit blocking a long-delayed stock split, clearing the way for the Internet search leader to issue a new class of non-voting shares later this year.
The trial had threatened to cast an unflattering light on Google co-founders Larry Page and Sergey Brin.
Smithfield bid low
One of Smithfield Foods Inc.'s largest shareholders says a $4.72 billion takeover bid from China's largest meat producer falls short of what the company would be worth if sold off piece by piece. In a letter to the Smithfield, Va.-based pork producer's board of directors, the New York-based investment firm Starboard Value LP estimated the company's value at $9 billion to $10.8 billion.
Lowe's buys Orchard
Lowe's plans to expand its California presence with an acquisition of Sears spinoff Orchard Supply Hardware Stores for about $205 million in cash. Orchard Supply filed a voluntary Chapter 11 bankruptcy petition, so the offer from Lowe's will become the "stalking horse" bid for an auction of Orchard's assets.