News in brief
Walmart warehouse ready for Pennsylvania
Walmart Inc. will build a nearly 2 million square foot distribution center in Pennsylvania that will create up to 600 permanent, full-time jobs.
The facility in the town of Shippensburg, in southern Pennsylvania, is expected to open this spring, the company said in a press release. At 1.8 million square feet, it is one of the largest warehouses built by Walmart.
As the state’s premier distribution center, it will support Walmart’s rapidly growing supply chain network and e-commerce business.
In its recent fourth quarter fiscal 2022 earnings report, Walmart said its U.S. e-commerce business grew 70% over the past two years.
The new warehouse “will help provide our customers with everyday items at low prices,” said Steve Miller, senior vice president of supply chain operations for Walmart’s U.S. division.
While the company’s fulfillment centers receive, store and distribute products to Walmart stores, fulfillment centers contain millions of items that can be picked, packaged and shipped directly to customers.
Proposed deal with Chevron cuts emissions
HOUSTON – Chevron Phillips Chemical Co. will pay $118 million for upgrades and compliance measures at three petrochemical plants in Texas and pay a civil penalty of $3.4 million for alleged violations of the Clean Air Act , according to a draft settlement announced Wednesday.
The changes are expected to reduce greenhouse gases by more than 75,000 tonnes a year, the Justice Department and the Environmental Protection Agency said.
These are three plants in Cedar Bayou, Port Arthur and Sweeny, all located near the Gulf Coast of Texas. Chevron Phillips has been accused of failing to properly operate and maintain its industrial torches, causing excessive air pollution.
“Chevron Phillips Chemical is working hard to ensure compliance, particularly with respect to flaring,” the company said in a statement.
Under the terms of the agreement, Chevron Phillips will install pollution control and emissions monitoring equipment at all three plants. The consent decree outlining the settlement is subject to a 30-day comment period and final court approval.
— The Associated Press
The index climbs to 14.54 to close at 760.86
The Arkansas Index, a price-weighted index that tracks the largest state-based public companies, closed Wednesday at 760.86, up 14.54.
“Equities rallied strongly from oversold conditions led by the financials and information technology sectors as commodity prices fell ahead of monthly CPI data due [this] morning,” said Leon Lants, managing director of Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.