New rules pushed
The European Commission on Wednesday recommended that European Union nations allow the sale of poultry meat that has been treated with chemicals to clean it of bacteria. The change of rules -- proposed primarily to accommodate the import of chlorine-treated U.S. chicken, which has been banned since 1997 -- needs unanimous support by food security experts from the EU's 27 member states. In the EU, poultry is cleaned without the help of chemicals. The draft guidelines would allow EU farmers to treat it with a chlorine solution, on condition the meat is rinsed with water afterward and is clearly labeled as decontaminated by chemicals. They also would allow the sale of U.S. chicken on the EU market after an 11-year ban on health and food security grounds.
DHL turns to UPS
DHL, the struggling U.S.-based express shipping unit of German postal service Deutsche Post AG, wants UPS to carry some of its air packages. The collaboration between rivals with past legal battles would give UPS a hefty new revenue stream and help DHL cut costs. In March, Deutsche Post said its fourth-quarter profit slid by more than 60 percent after it wrote down the value of its DHL unit. DHL is slashing network capacity in the United States by 30 percent, which includes closing and consolidating sorting facilities and streamlining pickup and delivery routes.
Fed member leaving
Federal Reserve Gov. Frederic Mishkin will leave at the end of August and return to teaching at Columbia University, the central bank announced Wednesday. His departure means another empty seat on the Fed as it battles housing, credit and financial debacles. Mishkin, a Fed board member since Sept. 5, 2006, submitted his resignation to President Bush. His exit leaves the Fed with just four of its seven board seats filled. Mishkin, 57, will return to Columbia University's Graduate School of Business as a professor of economics and resume teaching in the fall, the Fed said.
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