Toshiba said several companies have already expressed interest in possible investments.
Settlement to help limit toxic cadmium in jewelry
LOS ANGELES (AP) â¿¿ Major national retailers, including Target Corp. and Gap Inc., have agreed to all but eliminate the toxic metal cadmium in jewelry and other accessories they sell.
Starting in 2012, jewelry sold at the stores in California must contain less than 0.03 percent cadmium â¿¿ a soft, whitish metal that in high enough amounts can cause cancer and other harm. Because of the size of California's market, that effectively becomes a national limit â¿¿ though it doesn't carry the force of law in other states.
Five states have passed legislation limiting cadmium in jewelry, but typically they apply to items intended for kids, who are especially vulnerable to poisoning.
The new legal agreement, approved by a California judge Friday, applies to children's and adult jewelry. It is between the Oakland-based Center for Environmental Health and 26 retailers and suppliers, also among them Aeropostale, Old Navy, Banana Republic and Claire's, an international jewelry and accessories chain store.
The state laws and lawsuits followed an Associated Press investigation that last year revealed some Chinese jewelry manufacturers were substituting cadmium for lead, which Congress effectively banned due to its own hazards. Several bracelet charms and pendants tested for AP were more than 90 percent cadmium.
Swiss central bank sets limit on franc's strength
GENEVA (AP) â¿¿ In what experts called a last-ditch "nuclear option," the Swiss National Bank set a ceiling Tuesday on the value of its currency, which has skyrocketed this year as traders worldwide frantically searched for a safe haven in volatile times.
Aiming to protect Swiss exports and the country's vital tourism industry, the bank said it would spend whatever it takes to keep the Swiss franc from strengthening beyond 1.20 francs per euro. It also indicated it might take more measures to weaken it further.