COLUMBIA -- Amazon has officially announced it will open a second warehouse in South Carolina. The Internet retailer said Monday it will spend $50 million on the new facility in Spartanburg that should be open by fall.
Amazon says it will hire hundreds of workers but did not say exactly how many.
Amazon opened its first South Carolina warehouse in Cayce last year and initially hired about 500 people. It must have 2,000 full-time employees by the end of 2013 to qualify for a sales tax exemption lawmakers approved last year.
Stocks mixed as Greece negotiates debt reform
NEW YORK -- Stocks were mixed Monday while traders kept an eye on talks in Europe to cut Greece's crushing debt load and prevent a global financial crisis.
European stocks and the euro rose after the continent's finance ministers put pressure on banks that hold Greek government bonds to accept new ones that are worth half as much and carry a lower interest rate.
--The Dow Jones industrial average fell 11.66. or 0.09 percent, to 12,708.82.
--The S&P 500 added 0.62, or 0.05 percent, to close at 1,316.
--The Nasdaq index fell 2.53, or 0.09 percent, to 2,784.17.
Farm waste to be source of Santee Cooper power
Santee Cooper will soon receive up to 25 megawatts of new renewable energy from farm waste.
The state-owned utility signed a contract Monday with Alabama-based Green Energy Solutions, which could sign agreements with 50 or more farms to produce the electricity.
The first site will be a 540-kilowatt station at Cypress Poultry Farm near Manning, expected to be online next January, with similar projects coming online at farms across the state over the next six years. The fuel source will be biogas produced from poultry, swine, cow and other organic agricultural waste.
Report: 5 mortgage lenders to settle foreclosure case
WASHINGTON -- The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review.
Those who lost their homes to foreclosure are unlikely to get their homes back or benefit much financially from the settlement. About 750,000 Americans -- about half of the households who might be eligible for assistance under the deal -- will likely receive checks for about $1,800.
But the agreement could reshape mortgage lending guidelines and make it easier for those at risk of foreclosure to restructure their loans.
Five major banks -- Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial -- and U.S. state attorneys general could adopt the agreement within weeks, according to two officials briefed on the discussions.
Quarterly profit at railroad operator CSX rises 6%
JACKSONVILLE, Fla. -- Railroad operator CSX Corp. says fourth-quarter profit rose 6 percent on higher freight-hauling prices. The company, which serves Charleston, said Monday that net income rose to $457 million. Revenue rose 5 percent to $2.95 billion.
The railroad said it shipped less coal, chemicals and agricultural products than it did a year ago. Overall volume was down 4 percent, but revenue per shipping unit jumped 9 percent, helping the company boost total revenue.