http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/german_group_claims_iphone_fingerprint_hack <p>BERLIN — A German hacking group claims it can bypass the fingerprint-based security system used to unlock Apple's new iPhone 5S.</p><p>A spokesman for the Chaos Computer Club says the group managed to fool the phone's biometric sensor into accepting a fingerprint created with a household printer and wood glue.</p><p>Dirk Engling told The Associated Press on Monday that the exploit has been documented with several videos so independent experts can verify it.</p><p>He added that the hardest part had been getting hold of an iPhone 5S, which went on sale in Germany last week.</p> Technology News Mon, 23 Sep 2013 11:19:01 -0400 Associated Press 1063314581 http://bostonherald.com/business/business_markets/2013/09/eurozone_recovery_seen_picking_up_pace <p>LONDON — Further evidence emerged Monday that the economic recovery across the 17 European Union countries that use the euro is picking up and that unemployment may be peaking.</p><p>The composite purchasing managers' index — a gauge of business activity across the manufacturing and services sectors published by financial information company Markit — rose for the sixth month running to a 27-month high of 52.1 points in September from 51.5 in August.</p> Business & Markets Mon, 23 Sep 2013 11:11:58 -0400 Associated Press 1063314116 http://bostonherald.com/business/business_markets/2013/09/popular_bathroom_wipes_blamed_for_sewer_clogs <p>BEMUS POINT, N.Y. — Increasingly popular bathroom wipes — pre-moistened towelettes that are often advertised as flushable — are being blamed for creating clogs and backups in sewer systems around the nation.</p><p>Wastewater authorities say wipes may go down the toilet, but even many labeled flushable aren't breaking down as they course through the sewer system. That's costing some municipalities millions of dollars to dispatch crews to unclog pipes and pumps and to replace and upgrade machinery.</p> Business & Markets Mon, 23 Sep 2013 10:55:00 -0400 Associated Press 1063313781 http://bostonherald.com/business/automotive/2013/09/gm_to_buy_back_preferred_stock_debt_rating_upped <p>DETROIT — General Motors agreed to pay $3.2 billion to buy back high-interest preferred stock from a union retiree health care trust, and the Moody's ratings agency restored GM's debt to investment grade.</p><p>The company said Tuesday that it's buying 120 million shares at $27 per share from the United Auto Workers retiree health care trust. GM now pays 9 percent interest on the preferred shares, so the deal essentially refinances that debt to a much lower interest rate.</p> Automotive Mon, 23 Sep 2013 10:34:54 -0400 Associated Press 1063314411 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear, administration officials announced Monday.</p> Business & Markets Mon, 23 Sep 2013 10:15:09 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/un_climate_experts_stress_solidity_of_new_report <p>STOCKHOLM — Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for a final review.</p><p>The landmark report by the Intergovernmental Panel on Climate Change is expected to state with more confidence than its previous four assessments that global warming is mostly man-made.</p> Business & Markets Mon, 23 Sep 2013 09:44:36 -0400 Associated Press 1063314281 http://bostonherald.com/business/business_markets/2013/09/oil_falls_toward_104_a_barrel_as_syria_risk_fades <p>The price of oil slipped closer to $104 a barrel Monday despite positive economic news out of China and Europe, as the risk premium associated with the Syrian crisis diminished.</p><p>By early afternoon in Europe, benchmark oil for November delivery was down 34 cents to $104.41 in electronic trading on the New York Mercantile Exchange. On Friday, the now expired contract for October delivery dropped $1.72 to close at $104.67.</p> Business & Markets Mon, 23 Sep 2013 09:30:13 -0400 Associated Press 1063314476 http://bostonherald.com/business/technology/technology_news/2013/09/apple_says_it_has_sold_9m_new_iphones_since_friday <p>NEW YORK — Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply. Its shares jumped 6 percent in premarket trading.</p><p>Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.</p><p>The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.</p> Technology News Mon, 23 Sep 2013 09:29:58 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/un_agency_says_drop_in_child_labor_not_fast_enough <p>GENEVA — The number of children doing hazardous work dropped by half to 85 million from 2000 to 2012, but the rate of progress isn't fast enough to meet the goal of having no child laborers by 2016, the U.N. labor agency reported Monday.</p><p>The International Labor Organization's quadrennial review of child labor statistics highlighted the big drop. In 2000, 171 million children between five and 17 were doing work that directly endangered their health, safety and moral development, according to the agency.</p> Business & Markets Mon, 23 Sep 2013 09:16:30 -0400 Associated Press 1063314151 http://bostonherald.com/business/business_markets/2013/09/as_bad_debts_clog_vietnamese_banks_investors_wait <p>HANOI, Vietnam — The soured loans clogging up Vietnam's banks and the rows of abandoned houses gathering mold in the Hanoi rain are signs of a sick economy. But to foreign investors they represent an opportunity for sparkling returns — if only the Communist government makes them welcome.</p><p>Neil Hagan, an American debt recovery specialist who wants to start a company servicing bad loans in Vietnam on behalf of foreign buyers, says he gets weekly calls from hedge funds based in Singapore and Hong Kong asking whether now is the time to scoop up some of the debt.</p> Business & Markets Mon, 23 Sep 2013 09:15:47 -0400 Associated Press 1063314061 http://bostonherald.com/business/business_markets/2013/09/american_us_airways_extend_merger_deadline <p>FORT WORTH, Texas — US Airways and American Airlines are extending their merger deadline by a month to give themselves time for the antitrust trial scheduled for November.</p><p>That trial is scheduled to begin Nov. 25. Their original agreement allowed either side to call off the merger on Dec. 17, but the trial might not be done by then. The new agreement extends that period until Jan. 18, or later if the court rules in favor of the airlines.</p> Business & Markets Mon, 23 Sep 2013 08:44:53 -0400 Associated Press 1063314391 http://bostonherald.com/business/business_markets/2013/09/stocks_edge_lower_in_early_trading <p>NEW YORK — The stock market edged lower in early trading Monday as investors weighed the potential impact of a budget fight in Washington.</p><p>A rally in stocks last week that followed the Federal Reserve's decision to maintain its economic stimulus was erased by Friday, when the U.S. House of Representatives voted to defund President Barack Obama's health care law. That gesture reminded investors that the Republican-led House and the Democratic-controlled Senate are poised for a showdown over federal spending.</p> Business & Markets Mon, 23 Sep 2013 08:24:00 -0400 Associated Press 1063314361 http://bostonherald.com/business/automotive/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Automotive Mon, 23 Sep 2013 07:32:36 -0400 Associated Press 1063314256 http://bostonherald.com/business/technology/technology_news/2013/09/uk_supermarket_tesco_launches_inexpensive_tablet <p>LONDON — Tesco, Britain's largest retailer by sales, is jumping into the competitive market for tablet computers.</p><p>The company says its new Android-operated Hudl tablet will sell for 119 pounds ($190). It will be priced at less than 100 pounds for Tesco Clubcard members.</p><p>Tesco Chief Executive Philip Clarke said Monday the goal is to make it easier for families to get online with a modestly priced device. "The digital revolution should be for the many, not for the few," he said.</p> Technology News Mon, 23 Sep 2013 07:27:16 -0400 Associated Press 1063314246 http://bostonherald.com/business/business_markets/2013/09/violence_continues_over_pay_hikes_in_bangladesh <p>DHAKA, Bangladesh — Police fired rubber bullets and tear gas Monday in the third day of clashes with thousands of garment workers demanding better minimum wages amid escalating tension over the country's main export business.</p><p>Police said the violence mainly took place in the Gazipur and Savar Industrial zones, just outside the capital of Dhaka. Hundreds of factories that produce clothing for many big global brands, including Wal-Mart and H&M, are located in those two areas.</p> Business & Markets Mon, 23 Sep 2013 07:09:56 -0400 Associated Press 1063314096 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 00:26:53 -0400 Associated Press 1063313656 http://bostonherald.com/business/technology/technology_news/2013/09/new_surface_expected_from_microsoft_at_nyc_event <p>NEW YORK — Microsoft Corp. is expected to announce new Surface tablet computers, including a version with a smaller screen to compete with Google's Nexus 7 and Apple's iPad Mini.</p><p>The company has an announcement event scheduled in New York on Monday.</p> Technology News Mon, 23 Sep 2013 00:05:38 -0400 Associated Press 1063313626 http://bostonherald.com/business/business_markets/2013/09/on_the_surface_seaport_boom_makes_parking_more_difficult <p>Booming Seaport District development comes at a price for South Boston waterfront and Financial District workers who park in the evaporating sea of surface lots there.</p><p>Construction projects have resulted in the loss of 630-plus parking spots since last November, and 160 more will soon be added to the list.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 Donna Goodison 1063313106 http://bostonherald.com/business/technology/technology_news/2013/09/iphone_5s_game_but_no_game_changer <p>At first blush, the iPhone 5S looks virtually identical to its predecessor, the iPhone 5. Apple's midcycle "S" upgrades are reserved for iterative changes. So while owners of the 5 might find themselves a bit let-down by Apple's promise that this new smartphone is its "most forward-thinking," consumers can rest assured that this is surely Apple's best iPhone to date.</p> Technology News Mon, 23 Sep 2013 00:00:00 -0400 Jessica Van Sack, Booting Up 1063313051 http://bostonherald.com/business/business_markets/2013/09/color_us_meh_on_5c <p>IPhone 5C ($99 for 16GB, $199 for 32GB version, on contract):</p><p>The iPhone 5C is the iPhone 5 dressed up in five bright new color options, with a rounded plastic casing to complete this new look.</p><p><b>The Good: </b>Apple declared its new iPhone 5C as "beautifully, unapologetically plastic." And it is. Its rounded edges actually sit more comfortably in the palm than its predecessor, the sharp-cornered 5, and its exterior twin, the new 5S.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 herald.staff 1063313071
http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/german_group_claims_iphone_fingerprint_hack <p>BERLIN — A German hacking group claims it can bypass the fingerprint-based security system used to unlock Apple's new iPhone 5S.</p><p>A spokesman for the Chaos Computer Club says the group managed to fool the phone's biometric sensor into accepting a fingerprint created with a household printer and wood glue.</p><p>Dirk Engling told The Associated Press on Monday that the exploit has been documented with several videos so independent experts can verify it.</p><p>He added that the hardest part had been getting hold of an iPhone 5S, which went on sale in Germany last week.</p> Technology News Mon, 23 Sep 2013 11:19:01 -0400 Associated Press 1063314581 http://bostonherald.com/business/business_markets/2013/09/eurozone_recovery_seen_picking_up_pace <p>LONDON — Further evidence emerged Monday that the economic recovery across the 17 European Union countries that use the euro is picking up and that unemployment may be peaking.</p><p>The composite purchasing managers' index — a gauge of business activity across the manufacturing and services sectors published by financial information company Markit — rose for the sixth month running to a 27-month high of 52.1 points in September from 51.5 in August.</p> Business & Markets Mon, 23 Sep 2013 11:11:58 -0400 Associated Press 1063314116 http://bostonherald.com/business/business_markets/2013/09/popular_bathroom_wipes_blamed_for_sewer_clogs <p>BEMUS POINT, N.Y. — Increasingly popular bathroom wipes — pre-moistened towelettes that are often advertised as flushable — are being blamed for creating clogs and backups in sewer systems around the nation.</p><p>Wastewater authorities say wipes may go down the toilet, but even many labeled flushable aren't breaking down as they course through the sewer system. That's costing some municipalities millions of dollars to dispatch crews to unclog pipes and pumps and to replace and upgrade machinery.</p> Business & Markets Mon, 23 Sep 2013 10:55:00 -0400 Associated Press 1063313781 http://bostonherald.com/business/automotive/2013/09/gm_to_buy_back_preferred_stock_debt_rating_upped <p>DETROIT — General Motors agreed to pay $3.2 billion to buy back high-interest preferred stock from a union retiree health care trust, and the Moody's ratings agency restored GM's debt to investment grade.</p><p>The company said Tuesday that it's buying 120 million shares at $27 per share from the United Auto Workers retiree health care trust. GM now pays 9 percent interest on the preferred shares, so the deal essentially refinances that debt to a much lower interest rate.</p> Automotive Mon, 23 Sep 2013 10:34:54 -0400 Associated Press 1063314411 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear, administration officials announced Monday.</p> Business & Markets Mon, 23 Sep 2013 10:15:09 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/un_climate_experts_stress_solidity_of_new_report <p>STOCKHOLM — Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for a final review.</p><p>The landmark report by the Intergovernmental Panel on Climate Change is expected to state with more confidence than its previous four assessments that global warming is mostly man-made.</p> Business & Markets Mon, 23 Sep 2013 09:44:36 -0400 Associated Press 1063314281 http://bostonherald.com/business/business_markets/2013/09/oil_falls_toward_104_a_barrel_as_syria_risk_fades <p>The price of oil slipped closer to $104 a barrel Monday despite positive economic news out of China and Europe, as the risk premium associated with the Syrian crisis diminished.</p><p>By early afternoon in Europe, benchmark oil for November delivery was down 34 cents to $104.41 in electronic trading on the New York Mercantile Exchange. On Friday, the now expired contract for October delivery dropped $1.72 to close at $104.67.</p> Business & Markets Mon, 23 Sep 2013 09:30:13 -0400 Associated Press 1063314476 http://bostonherald.com/business/technology/technology_news/2013/09/apple_says_it_has_sold_9m_new_iphones_since_friday <p>NEW YORK — Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply. Its shares jumped 6 percent in premarket trading.</p><p>Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.</p><p>The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.</p> Technology News Mon, 23 Sep 2013 09:29:58 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/un_agency_says_drop_in_child_labor_not_fast_enough <p>GENEVA — The number of children doing hazardous work dropped by half to 85 million from 2000 to 2012, but the rate of progress isn't fast enough to meet the goal of having no child laborers by 2016, the U.N. labor agency reported Monday.</p><p>The International Labor Organization's quadrennial review of child labor statistics highlighted the big drop. In 2000, 171 million children between five and 17 were doing work that directly endangered their health, safety and moral development, according to the agency.</p> Business & Markets Mon, 23 Sep 2013 09:16:30 -0400 Associated Press 1063314151 http://bostonherald.com/business/business_markets/2013/09/as_bad_debts_clog_vietnamese_banks_investors_wait <p>HANOI, Vietnam — The soured loans clogging up Vietnam's banks and the rows of abandoned houses gathering mold in the Hanoi rain are signs of a sick economy. But to foreign investors they represent an opportunity for sparkling returns — if only the Communist government makes them welcome.</p><p>Neil Hagan, an American debt recovery specialist who wants to start a company servicing bad loans in Vietnam on behalf of foreign buyers, says he gets weekly calls from hedge funds based in Singapore and Hong Kong asking whether now is the time to scoop up some of the debt.</p> Business & Markets Mon, 23 Sep 2013 09:15:47 -0400 Associated Press 1063314061 http://bostonherald.com/business/business_markets/2013/09/american_us_airways_extend_merger_deadline <p>FORT WORTH, Texas — US Airways and American Airlines are extending their merger deadline by a month to give themselves time for the antitrust trial scheduled for November.</p><p>That trial is scheduled to begin Nov. 25. Their original agreement allowed either side to call off the merger on Dec. 17, but the trial might not be done by then. The new agreement extends that period until Jan. 18, or later if the court rules in favor of the airlines.</p> Business & Markets Mon, 23 Sep 2013 08:44:53 -0400 Associated Press 1063314391 http://bostonherald.com/business/business_markets/2013/09/stocks_edge_lower_in_early_trading <p>NEW YORK — The stock market edged lower in early trading Monday as investors weighed the potential impact of a budget fight in Washington.</p><p>A rally in stocks last week that followed the Federal Reserve's decision to maintain its economic stimulus was erased by Friday, when the U.S. House of Representatives voted to defund President Barack Obama's health care law. That gesture reminded investors that the Republican-led House and the Democratic-controlled Senate are poised for a showdown over federal spending.</p> Business & Markets Mon, 23 Sep 2013 08:24:00 -0400 Associated Press 1063314361 http://bostonherald.com/business/automotive/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Automotive Mon, 23 Sep 2013 07:32:36 -0400 Associated Press 1063314256 http://bostonherald.com/business/technology/technology_news/2013/09/uk_supermarket_tesco_launches_inexpensive_tablet <p>LONDON — Tesco, Britain's largest retailer by sales, is jumping into the competitive market for tablet computers.</p><p>The company says its new Android-operated Hudl tablet will sell for 119 pounds ($190). It will be priced at less than 100 pounds for Tesco Clubcard members.</p><p>Tesco Chief Executive Philip Clarke said Monday the goal is to make it easier for families to get online with a modestly priced device. "The digital revolution should be for the many, not for the few," he said.</p> Technology News Mon, 23 Sep 2013 07:27:16 -0400 Associated Press 1063314246 http://bostonherald.com/business/business_markets/2013/09/violence_continues_over_pay_hikes_in_bangladesh <p>DHAKA, Bangladesh — Police fired rubber bullets and tear gas Monday in the third day of clashes with thousands of garment workers demanding better minimum wages amid escalating tension over the country's main export business.</p><p>Police said the violence mainly took place in the Gazipur and Savar Industrial zones, just outside the capital of Dhaka. Hundreds of factories that produce clothing for many big global brands, including Wal-Mart and H&M, are located in those two areas.</p> Business & Markets Mon, 23 Sep 2013 07:09:56 -0400 Associated Press 1063314096 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 00:26:53 -0400 Associated Press 1063313656 http://bostonherald.com/business/technology/technology_news/2013/09/new_surface_expected_from_microsoft_at_nyc_event <p>NEW YORK — Microsoft Corp. is expected to announce new Surface tablet computers, including a version with a smaller screen to compete with Google's Nexus 7 and Apple's iPad Mini.</p><p>The company has an announcement event scheduled in New York on Monday.</p> Technology News Mon, 23 Sep 2013 00:05:38 -0400 Associated Press 1063313626 http://bostonherald.com/business/business_markets/2013/09/on_the_surface_seaport_boom_makes_parking_more_difficult <p>Booming Seaport District development comes at a price for South Boston waterfront and Financial District workers who park in the evaporating sea of surface lots there.</p><p>Construction projects have resulted in the loss of 630-plus parking spots since last November, and 160 more will soon be added to the list.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 Donna Goodison 1063313106 http://bostonherald.com/business/technology/technology_news/2013/09/iphone_5s_game_but_no_game_changer <p>At first blush, the iPhone 5S looks virtually identical to its predecessor, the iPhone 5. Apple's midcycle "S" upgrades are reserved for iterative changes. So while owners of the 5 might find themselves a bit let-down by Apple's promise that this new smartphone is its "most forward-thinking," consumers can rest assured that this is surely Apple's best iPhone to date.</p> Technology News Mon, 23 Sep 2013 00:00:00 -0400 Jessica Van Sack, Booting Up 1063313051 http://bostonherald.com/business/business_markets/2013/09/color_us_meh_on_5c <p>IPhone 5C ($99 for 16GB, $199 for 32GB version, on contract):</p><p>The iPhone 5C is the iPhone 5 dressed up in five bright new color options, with a rounded plastic casing to complete this new look.</p><p><b>The Good: </b>Apple declared its new iPhone 5C as "beautifully, unapologetically plastic." And it is. Its rounded edges actually sit more comfortably in the palm than its predecessor, the sharp-cornered 5, and its exterior twin, the new 5S.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 herald.staff 1063313071
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