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Business Minute: WV Chemical Spill, Big Money Russia and Ups & Downs

A chemical spill causing headaches for one company in West Virginia, the cost of Sochi and an up and down week on Wall Street. Time for your Business Minute.
Time for your Business Minute on this Monday Morning.

CRYING OVER SPILT...CHEMICALS

The West Virginia company whose chemical spill contaminated water supplies has filed for bankruptcy. Officials say one of Freedom Industries' chemical tanks leaked more than 7,000 gallons of a coal treatment chemical into the Elk River. The chemical leak caused a state of emergency in nine counties and temporarily prevented roughly 300,000 people from using their tap water.

As of Friday, pregnant women were still being advised to avoid drinking the water. The exact cause is still under investigation.

BIG MONEY IN SOCHI

The little-known Russian town of Sochi is preparing to host the most expensive Olympic games ever, at a cost of about $50-billion! That's more than three times the cost of London 2012. The staggering price tag includes a major upgrade to Sochi's infrastructure -- building new sporting venues, roads and hotels. Many of the new facilities will also be used when Sochi hosts the World Cup in 2018.

UP & DOWN...

The Dow Jones closed the week up 40 points. The Nasdaq fell 21 points, and the S&P 500 dipped 7 points to close out the week.
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