Corner Bakery Cafe eyes big Bay Area push
Corner Bakery Cafe has opened in Pleasanton and says it intends to open 31 other restaurants in the Bay Area.
The restaurant is now open at 6770 Bernal Ave. in a shopping center anchored by a new Safeway supermarket that will also feature a CVS drugstore.
The Pleasanton site is the first Bay Area location for Corner Bakery and is operated through a franchise by John Sweeney, general manager of restaurant operations for Buon Hospitality.
Buon Hospitality has signed an agreement to open 32 Corner Bakery restaurants in the Bay Area over the next seven years. The expansion means hundreds of new jobs because each restaurant employs about 40 to 50 workers each.
Pleasant Hill is expected to be the site of the next Corner Bakery in the Bay Area, Sweeney said.
Chevron shares rise after settlement offer
Shares of San Ramon-based Chevron jumped Monday after it was disclosed that the energy giant has offered to pay $149 million to settle two civil lawsuits in Brazil related to an oil spill off that nation's coast in late 2011.
Final approval of the deal is expected in January.
An estimated 3,700 barrels of crude oil leaked into the Atlantic Ocean because of the incident in the Frade oil field.
Chevron rose 0.8 percent, or 86 cents a share, and finished at $108.68.
Bio-Rad to buy German firm for $70 million
Hercules-based Bio-Rad Laboratories' shares slumped Monday, the first trading day after the medical device and instruments maker said it had struck a deal to buy a European maker of antibodies for nearly $70 million.
Bio-Rad said it has a definitive agreement to buy Germany-based AbD Serotec, a unit of MorphoSys, for $70 million in cash.
The transaction is subject to certain closing conditions and should be complete in January. Bio-Rad fell 0.3 percent, or 27 cents and finished at $103.98.
"With this acquisition, Bio-Rad will have access to a comprehensive catalog of antibodies," said Brad Crutchfield, president of Bio-Rad's life science group.