Soros invests in
Billionaire financier George Soros has taken a minority stake in the soccer club Manchester United. He disclosed in a regulatory filing he owns 7.85 percent of the company's Class A shares. The filing with the U.S. Securities and Exchange Commission was made by Soros' hedge fund, Soros Fund Management LLC. The 134-year-old soccer club went public earlier this month.
Samsung to refit
Texas chip plant
Samsung Electronics Co. will spend $4 billion renovating its plant in Austin, Texas, to increase production of advanced chips used in smartphones and tablet computers. It said mass production in the plant will start in the second half of next year. The plant also produces chips for Apple's iPhone and iPad.
Wireless devices will allow about 2,800 cars, trucks and buses in Ann Arbor, Mich., to transmit signals to other cars, warning drivers that cars in front of them are slowing or that a vehicle might be about to blow through a traffic light. The year-long experiment will let officials gather data to find out if the devices will make roads safer.
Federal regulators shut down a Central California slaughterhouse after receiving an animal welfare video that appears to show workers bungling the slaughter of cows struggling to walk and even stand. Under federal regulations, sick animals cannot be slaughtered for human consumption. The probe will determine whether meat products from the company should be recalled.
Labor Day travel
Americans plan to hit the road this Labor Day weekend despite rising gas prices. Thirty-three million people will travel 50 miles or more, a 2.9 percent increase from last year, according to AAA, a federation of auto clubs. That's the highest level of travel for Labor Day since the start of the recession in late 2007.
Euro Bank to
Europe's debt crisis is close to claiming a new set of casualties the European Central Bank's overstretched staff. The central banking authority for the 17 countries that use the euro says it is recruiting more staff to help keep its workers from burning out under the added tasks thrown up by the bloc's economic problems.