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Energy stocks fall ... Canadian Pacific revises takeover offer for Norfolk Southern ... Pepperidge Farm sues Trader Joe's



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NEW YORK (AP) — Energy stocks are falling again as the price of oil continues to slide. Most of the biggest decliners in early trading today were oil and gas companies. Devon Energy lost 8 percent, Kinder Morgan fell 7 percent and Southwestern Energy fell 5 percent. U.S. crude dropped another 2 percent to $37 a barrel. Oil is the lowest it's been since early 2009. At 10:33 a.m. Eastern Time, the Dow Jones industrial average fell xx points to 17,523. The S&P 500 gave up 21 points, to 2,056. And the Nasdaq composite dropped 39 points to 5,062.

NEW YORK (AP) — Canadian Pacific has revised its takeover bid for Norfolk Southern, saying that it should ease fears that the railroad deal would be shot down by regulators. The new offer is valued at $91.62 per share. The prior offer, which had a value of $92.06 per share, included more cash but fewer shares in the new railroad. Norfolk Southern says the new offer is more uncertain and risky, in part because there is less cash consideration.

ATHENS, Greece (AP) — A United Nations human rights expert is backing the Greek left-wing government's claim that the country's financial problems have triggered a humanitarian crisis. Juan Pablo Bohoslavsky says Greece is now "partially unable" to ensure that all of its people can enjoy minimum levels of economic, social and cultural rights enshrined in international human rights law. Bohoslavsky is urging creditors to allow debt relief to enable "socially inclusive growth."

PARIS (AP) — Air France is resuming flights to Tehran for the first time in more than seven years, as part of resuming European trade with Iran following a hard-fought deal to curb its nuclear activities. The airline's announcement says it "is supporting the resumption of commercial exchange with Iran" and will operate flights three times a week starting in April. Air France operated flights to Tehran from 1946 until October 2008, when they were suspended amid U.N. and EU sanctions against Iran over its nuclear program.

NEW HAVEN, Conn. (AP) — Pepperidge Farm is suing Trader Joe's saying the grocer sells a cookie that too closely resembles the Pepperidge Farm Milano cookie. The lawsuit, filed in federal court in New Haven, Connecticut, contends that Trader Joe's is confusing customers with its Crispy Cookies that mimic Milano's signature oval shape. Pepperidge Farm wants to block future sales of the item and be paid undisclosed damages. Trader Joe's isn't commenting.

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The Associated Press

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