'Little Debbie' to
buy Drake's cakes
Hostess plans to sell Drake's cakes to the maker of Little Debbie cakes. The bankrupt company says it picked McKee Foods as the buyer for the cakes, which include Devil Dogs, Funny Bones and Yodels, after nobody stepped forward to top its offer. Separately, Metropoulos & Co., which is joining Apollo Global Management to buy Twinkies, said it hopes to have those cakes back on shelves by this summer.
A measure of U.S. wholesale prices the producer price index rose 0.7 in February from the previous month, pushed higher by more expensive gas and pharmaceuticals. But outside energy prices, inflation was mild. Excluding the volatile food and gas categories, core prices rose 0.2 percent in February, the same as the previous month.
AEG off market
Billionaire Philip Anschutz says he is pulling AEG off the market and that the company that owns the Los Angeles Kings and the Staples Center is no longer for sale. Anschutz said he had made it clear he wouldn't sell the company unless the right buyer came forward. The sports and entertainment company was expected to fetch billions of dollars.
MSNBC anchor Chris Hayes is going from working weekends to working weeknights. Hayes, who had hosted a weekend morning show for the cable news channel, has been tapped to take over its 8-9 p.m. time slot starting April 1. Ed Schultz, who had hosted that hour, is moving to weekends. For MSNBC, the hope is that Hayes can attract younger viewers.
GM to offer
General Motors plans to build an entry-level Chevrolet Corvette that would cost less than $50,000 and widen the iconic sports car brand's appeal. The No. 1 U.S. automaker is looking to bring out the less-expensive model in mid- to late-2015.
FDA probes new
The Food and Drug Administration is looking into evidence a group of new diabetes drugs can increase the risk of pancreatitis and other problems. Tissue samples taken from a small number of patients showed inflammation of the pancreas and cell changes that often precede cancer. The unpublished results come from a group of academic researchers. The FDA is seeking more information.