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For the first six months of the year, casinos won $1.7 billion, down 7 percent from the same period in 2010.

NEW YORK

Chesapeake to spend $1B on gas technology

NEW YORK — Chesapeake Energy, the nation’s second-largest producer of natural gas, plans to invest $1 billion over 10 years in technologies designed to spur demand for the fuel.

U.S. natural gas supplies have grown dramatically in recent years as drillers like Chesapeake have learned to tap huge fields of gas trapped in shale formations deep under several states.

Chesapeake, based in Oklahoma City, said Monday that it will invest $150 million in Clean Energy Fuels Corp., based in Seal Beach, Calif., to build natural-gas fueling stations at truck stops.

Chesapeake also agreed to spend $155 million for a 50 percent stake in Sundrop Fuels Inc., based in Louisville, Colo. Sundrop uses natural gas and plant materials to create liquid fuels such as diesel and gasoline.

PRODUCT SAFETY

Agency fines Macy’s $750K for hazard

Macy’s department store chain will pay a $750,000 penalty for failing to report it had sold children’s outerwear that had been recalled because it had drawstrings. Such garments pose strangulation and entanglement hazards.

The U.S. Consumer Product Safety Commission announced Monday that the Cincinnati-based retailer agreed to pay the civil penalty. Macy’s denied CPSC allegations that it knowingly violated the law.

The commission alleged that Macy’s failed to report immediately that it had sold children’s sweatshirts, sweaters and jackets with drawstrings at the neck between 2006 and 2010. The clothing also was sold at Macy’s-owned stores including Bloomingdale’s and Robinsons-May. The agency said Macy’s sold some garments after a recall had been issued.

The commission received 28 reports of children who had died since 1985 when drawstrings became entangled with an object.

From wire dispatches and staff reports