Burlington Northern raises $1.5B with bonds
Burlington Northern Santa Fe sold $1.5 billion of bonds in its first offering in more than six months. The Fort Worth-based railroad, which Warren Buffett's Berkshire Hathaway bought in 2010, issued $700 million of 3 percent, 10-year notes and $800 million of 4.45 percent, 30-year bonds, according to data compiled by Bloomberg. The company's bonds may be rated A3 by Moody's Investors Service. -- Bloomberg NewsRising home prices feed industry's momentumU.S. home prices jumped in January, a sign the housing market is gaining momentum as it nears the spring selling season. Home prices rose 9.7 percent in January from a year ago, according to data released Tuesday by CoreLogic. That's up from an 8.3 percent increase in December and the biggest annual gain since April 2006. Prices rose in all states except Delaware and Illinois.-- The Associated PressService providers growing at record paceU.S. service companies grew in February at the fastest pace in a year, buoyed by higher sales, more new orders and solid job growth. The gain suggests higher taxes have yet to slow consumer spending on services. The Institute for Supply Management said Tuesday that its index of non-manufacturing activity rose to 56 in February from 55.2 in January. Any reading above 50 indicates expansion.-- The Associated PressU.S. power grid is in decline, study saysAmerica's power grid is like an old car. It gets the job done, even if its performance is slipping. But the repair bills go up every year and experts say only a major overhaul will reverse its decline. An Associated Press analysis of utility spending and reliability nationwide found that electric customers are spending 43 percent more than they did in 2002 to build and maintain local electric infrastructure. Since then, power outages have remained infrequent; but when the lights do go out, it now takes longer to get them back on. -- The Associated PressConAgra, Horizon Milling to form joint ventureThe biggest U.S. flour miller is getting a lot bigger. ConAgra Foods is combining its flour milling business with Horizon Milling -- a joint venture of Cargill Inc. and CHS Inc. that was already No. 1 -- to create a new joint venture called Ardent Mills. -- The Associated PressHave more to add? News tip? Tell us
