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LONG ISLAND

 

 

Kimco sells interest in unit

 

New Hyde Park-based Kimco Realty Corp. has sold a $165-million interest in a commercial real estate company. Valad Property Group, based in Sydney, Australia, has industrial and commercial holdings throughout Europe and in Australia. Kimco's sale of the Valad corporate securities, or convertible notes, was meant to help it focus on retail properties and it also netted $3 million in income, Dave Henry, president and chief executive of Kimco, said. "Proceeds from this transaction will be used to partially repay the balance on the company's U.S. revolving credit facility," Henry said. Kimco owns hundreds of properties in the United States, Canada, Mexico and several South American countries, including Chile. -- JOSEPH MALLIA

 

 

Jury consulting firms merge

 

The Lynbrook-based legal advisory firm Doar Litigation Consulting has acquired a well-known rival in the jury selection field. Doar, with expertise in pretrial discovery, jury selection, witness preparation and trial strategy, has bought Julie Blackman & Associates of Montclair, N.J. Financial aspects of the deal were not disclosed. -- JOSEPH MALLIA

 

 

College hosts housing event

 

Three or four White House administrations ago, the Department of Housing and Urban Development used to hold HUD in Your Neighborhood events across the country. Now, to counter the "ivory tower" complex, the idea has been resurrected by HUD regional administrator Adolfo Carrion and Rep. Steve Israel (D-Dix Hills). The first such event will be on Friday at Farmingdale State College, where more than a dozen HUD officials will brief the public, housing agencies and community leaders on their programs and even welcome criticism. The free event begins at 9:30 a.m. at the college's Gleason Hall, followed by various discussions on subjects including healthy homes, filing complaints under the Fair Housing Act, public housing programs and foreclosures. -- ELLEN YAN

 

 

High note for McCartney food

 

The Linda McCartney brand of frozen vegetarian meals and desserts, made at a factory in England, has won an award in the United Kingdom for its parent company, The Hain Celestial Group. The organic frozen food company was founded by Beatles singer Paul McCartney's late wife, who died after fighting cancer in 1998. Hain, in Melville, was recognized with the Eastern Daily Press Business Development Award for its Linda McCartney Foods Co. brand. The Eastern Daily Press covers the Norfolk, Suffolk and Cambridgeshire regions in the United Kingdom. -- JOSEPH MALLIA

 

 

NATION

 

 

GDP data fails to thwart rally

 

Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter. The economy grew at a 1.8 annual rate between January and March, the weakest rate since last spring. Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized. The Standard & Poor's 500 index rose 4.82 points, or 0.36 percent, to 1,360.48. The Dow Jones industrial average rose 72.35, or 0.57 percent, to 12,763.31. The Nasdaq composite gained 2.65, or 0.09 percent, to close at 2,872.53.

 

 

Weekly jobless claims up again

 

More people sought unemployment benefits last week, the second rise in three weeks, a sign of the slow and uneven jobs recovery. Applications for unemployment benefits jumped 25,000 to a seasonally adjusted 429,000 for the week ending April 23, the Labor Department said Thursday. That's the highest total since late January. The four-week average of applications, a less volatile measure, rose to 408,500, its third straight rise and the first time it has topped 400,000 in two months.

Compiled with wire service reports

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