Divide over shutdown widens

With a government shutdown looming next week and no clear solution in sight, failure to reach a deal, or even a short-term stopgap spending bill, could push key issues onto the back of the critical debt ceiling showdown in mid-October when legislators debate raising the nation's borrowing limit, an expert said.

"All the things we are debating over the shutdown could carry over to the debt ceiling," said Nigel Gault, co-chief economist at the Parthenon Group.

Stocks fell yesterday for the sixth day out of seven, ending the week with a decline as investors watched while Democrats and Republicans battled over the spending bill and Obamacare. The U.S. Senate passed a spending bill that has little chance of passing in the House, where Republicans oppose funding in the measure for the health care law.

President Obama yesterday called on House Republicans to put aside their differences.

"House Republicans will have to decide whether to join the Senate and keep the government open, or shut it down just because they can't get their way on an issue that has nothing to do with the deficit," Obama said.

Congress will work through the weekend, but it's unclear if it can come to an agreement before the midnight deadline Monday.

If the government shuts down, it will have an "irritating" effect on the economy, Gault said.

About 800,000 nonessential government workers would be furloughed, resulting in the closure of national parks and monuments, among other departments. And the jobs report scheduled to be released next week may not come out, according to the Bureau of Labor Statistics. In the 17 government shutdowns since 1976, the markets have not plunged — the average decline in the Standard and Poor's 500 index for a shutdown lasting more than 10 days is 2.5 percent.

Hitting the debt ceiling, however, would be "catastrophic" and uncharted territory, opening the possibility of the government defaulting on its debt, Gault said.

"The potential impacts are far more severe," he said. "It's going to cut federal spending overnight by 20 percent."

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Shutdown impact: Tourists, homebuyers hit quickly

WASHINGTON — A government shutdown would have far-reaching consequences for some, but minimal impact on others.

Mail would be delivered. Social Security and Medicare benefits would continue to flow.

But vacationers would be turned away from national parks and Smithsonian museums. Low-to-moderate income borrowers and first-time homebuyers seeking government-backed mortgages could face delays.

A look at how services would or would not be affected if Congress fails to reach an agreement averting a government shutdown at midnight Monday.

AIR TRAVEL

Federal air traffic controllers would remain on the job and airport screeners would keep funneling passengers through security checkpoints. Federal inspectors would continue enforcing safety rules.

INTERNATIONAL TRAVEL

The State Department would continue processing foreign applications for visas and U.S. applications for passports, since fees are collected to finance those services. Embassies and consulates overseas would continue to provide services to American citizens.

BENEFIT PAYMENTS

Social Security and Medicare benefits would keep coming, but there could be delays in processing new disability applications. Unemployment benefits would still go out.

FEDERAL COURTS

Federal courts would continue operating normally for about 10 business days after the start of a shutdown, roughly until the middle of October. If the shutdown continues, the judiciary would have to begin furloughs of employees whose work is not considered essential. But cases would continue to be heard.

MAIL

Deliveries would continue as usual because the U.S. Postal Service receives no tax dollars for day-to-day operations. It relies on income from stamps and other postal fees to keep running.

RECREATION

All national parks would be closed, as would the Smithsonian museums, including the National Zoo in Washington. Visitors using overnight campgrounds or other park facilities would be given 48 hours to make alternate arrangements and leave the park. Among the visitor centers that would be closed: the Statue of Liberty and Ellis Island in New York, Independence Hall in Philadelphia, Alcatraz Island near San Francisco and the Washington Monument.

HEALTH

New patients would not be accepted into clinical research at the National Institutes of Health, but current patients would continue to receive care. Medical research at the NIH would be disrupted and some studies would be delayed. The Centers for Disease Control and Prevention would be severely limited in spotting or investigating disease outbreaks, from flu to that mysterious MERS virus from the Middle East.

FOOD SAFETY

The Food and Drug Administration would handle high-risk recalls suspend most routine safety inspections. Federal meat inspections would be expected to proceed as usual.

HEAD START

A small number of Head Start programs, about 20 out of 1,600 nationally, would feel the impact right away. The federal Administration for Children and Families says grants expiring about Oct. 1 would not be renewed. Over time more programs would be affected. Several of the Head Start programs that would immediately feel the pinch are in Florida. It's unclear if they would continue serving children.

FOOD ASSISTANCE

The Special Supplemental Nutrition Program for Women, Infants and Children, known as WIC, could shut down. The program provides supplemental food, health care referrals and nutrition education for pregnant women, mothers and their children.

School lunches and breakfasts would continue to be served, and food stamps, known as the Supplemental Nutrition Assistance Program, or SNAP, would continue to be distributed. But several smaller feeding programs would not have the money to operate.

TAXES

Americans would still have to pay their taxes and file federal tax returns, but the Internal Revenue Service says it would suspend all audits. Got questions? Sorry, the IRS says taxpayer services, including toll-free help lines, would be shut as well.

LOANS

Many low-to-moderate incomes borrowers and first-time homebuyers seeking government-backed mortgages could face delays during the shutdown. The Federal Housing Administration, which guarantees about 30 percent of home mortgages, wouldn't underwrite or approve any new loans during the shutdown. Action on government-backed loans to small businesses would be suspended.

SCIENCE

NASA will continue to keep workers at Mission Control in Houston and elsewhere to support the International Space station, where two Americans and four others are deployed. The National Weather Service would keep forecasting weather and issuing warnings and the National Hurricane Center would continue to track storms. The scientific work of the U.S. Geological Survey would be halted.

HOMELAND SECURITY

The majority of the Department of Homeland Security's employees are expected to stay on the job, including uniformed agents and officers at the country's borders and ports of entry, members of the Coast Guard, Transportation Security Administration officers, Secret Service personnel and other law enforcement agents and officers. U.S. Citizenship and Immigration Services employees would continue to process green card applications.

MILITARY

The military's 1.4 million active duty personnel would stay on duty, but their paychecks would be delayed. About half of the Defense Department's civilian employees would be furloughed.

PRISONS

All 116 federal prisons would remain open, and criminal litigation would proceed.

VETERANS SERVICES

Most services offered through the Department of Veterans Affairs will continue because lawmakers approve money one year in advance for the VA's health programs. Veterans would still be able to visit hospitals for inpatient care, get mental health counseling at vet centers or get prescriptions filled at VA health clinics. Operators would still staff the crisis hotline and claims workers would still process payments to cover disability and pension benefits. But those veterans appealing the denial of disability benefits to the Board of Veterans Appeals will have to wait longer for a decision because the board would not issue any decisions during a shutdown.

WORK SAFETY

Federal occupational safety and health inspectors would stop workplace inspections except in cases of imminent danger.

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Associated Press writers Matthew Daly, Frederic J. Frommer, Kevin Freking, Andrew Miga, Deb Riechmann, Lauran Neergaard, Ricardo Alonso-Zaldivar, Mark Sherman, Stephen Ohlemacher, Lolita Baldor, Jesse Holland, Seth Borenstein, Mary Clare Jalonick and Alicia Caldwell contributed to this report.

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Mass. trying to mesh state health law with federal

BOSTON — Massachusetts finds itself in a unique position as states gear up to launch new insurance marketplaces under President Barack Obama's health care law.

It was Massachusetts that created the blueprint for the marketplaces when it passed its landmark 2006 health care law, making it the first state to create the kind of exchanges envisioned under the federal Affordable Care Act.

But the state and federal laws aren't mirror images, and that means plenty of work trying to mesh the two.

Many of those changes are being welcomed by state officials who say Massachusetts could reap hundreds of millions in additional federal dollars under the law.

"There is no question that the Affordable Care Act benefits Massachusetts in very concrete and significant ways," said Glen Shor, Massachusetts secretary of administration and finance.

But the federal law could also mean some smaller employers and individuals could end up paying more for coverage, and reconciling the laws could spark disruption with some individuals forced to shift from one health program to another.

The federal law could also cause headaches for those deemed able to afford health care but who opt not to. Both the state and federal laws have individual mandates that levy tax penalties to those who refuse to get insurance.

Since the inception of the state mandate, Massachusetts taxpayers have paid more than $115 million in penalties. For 2013, the state penalty is as much as $106 per month or $1,272 per year for an individual. Those who earn up to 150 percent of the federal poverty level don't face penalties.

The federal penalty kicks in next year, meaning uninsured individuals could face federal tax penalties when they file in early 2015. The new federal penalty doesn't mean the state mandate goes away, however, though that won't trigger a double penalty.

Officials say the higher penalty will act as a cap. If an individual owes a $95 federal penalty and a $200 state penalty, they will pay the federal penalty and that amount will be deducted from the state penalty.

Businesses are also keeping a close eye on the federal law, which will affect insurance costs for smaller businesses and individuals who pay out-of-pocket for insurance.

Changes in what factors can be taken into account when determining insurance rates means about 14,000 individuals and small businesses that employ 377,000 workers could see their costs rise, while about 69,000 individuals and businesses employing 256,000 workers could see costs drop.

The increases could be as high as 10 percent, but a federal waiver will let that increase be phased in over three years.

Merging the two laws will also require many people already receiving insurance coverage to re-enroll or be shifted to new programs.

The biggest change will be for those insured through the state's subsidized Commonwealth Care program. Under the federal law, about 150,000 will have to re-enroll in health care plans beginning Tuesday.

They're not alone.

Aligning the federal and state laws means an additional 100,000 individuals will be shifted from Commonwealth Care into the state's Medicaid program, known as MassHealth, and 45,000 uninsured people will become eligible for MassHealth.

The ACA allows states to offer Medicaid coverage to low-income adults making less than 133 percent of the federal poverty level, or about $15,000 a year for an individual.

As a result of the change, state officials expect the total number of individuals in MassHealth to hit about 325,000 next year.

State health officials say they're working aggressively to make sure the enrollment efforts go as smoothly as possible so no one falls off insurance during the transition. They say they want to protect Massachusetts' status as the state with the highest percentage of insured residents.

"We are doing everything we can not to backslide," said John Polanowicz, secretary of health and human services.

On balance, Massachusetts officials say that, despite any disruption, the federal law will help the state strengthen health care services.

They say the state will also reap an additional $200 million in higher federal reimbursements during the current fiscal year and $400 million in the fiscal year that begins next July.

The state has taken other steps to help smooth the transition.

Lawmakers repealed a mandate requiring employers provide health insurance to workers or pay a penalty — in part because the federal law included its own mandate. Under the federal law, firms with 50 or more employees face a mandate to offer insurance or risk fines from the government starting in 2015.

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Mazda recalls midsize cars to fix door latches

DETROIT — Mazda is recalling 161,400 midsize cars in the U.S. because the doors can open while they're being driven.

The recall affects Mazda 6 cars from the 2009 through 2013 model years. The company says the door latch mounting screws can loosen. That can stop the doors from latching. If the latches come loose, a door ajar light will warn drivers.

Mazda traced the problem to improper tightening at the factory or uneven door surfaces. The company will notify owners and dealers will put on a thread-locking adhesive and tighten the screws. The recall will start around Oct. 18.

Owners with questions can contact Mazda at (800) 222-5500.

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Trout habitat being restored in Maine stream

FRENCHTOWN TOWNSHIP, Maine — Maine's wildlife agency is restoring brook trout habitat in a stream in the Moosehead Lake area.

The Department of Inland Fisheries and Wildlife and Plum Creek land and timber company are working together to enhance the habitat on Intervale Brook, an important tributary of First Roach Pond in Frenchtown Township.

In the days of log drives, streams like Intervale were straightened and had in-stream boulders and trees removed to make log drives easier. But those things also hurt the fish habitat.

To restore habitat, boulders and fallen trees have been added to the stream to provide cover for the fish, increase the insect population and enhance pools.

This past week, Plum Creek removed an old log-driving dam at the stream's headwaters.

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Online:

Restoration project: http://www.youtube.com/watch?v=HdrvwXUNaDg

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38 Studios video game headed to auction block

PROVIDENCE, R.I. — The video game under development when Curt Schilling's 38 Studios went bankrupt is headed to the auction block.

The formal marketing by Heritage Global Partners of the game and other intellectual property begins Friday. Prospective bidders will be vetted before an auction, tentatively scheduled for November.

Richard Land, the receiver for 38 Studios, declined to estimate the worth of the unfinished game, code-named "Copernicus," but he says it has "significant value." He says multiple parties have expressed interest.

Rhode Island's economic development agency gave 38 Studios a $75 million loan guarantee in 2010. The company filed for bankruptcy last year. The state's on the hook for some $90 million related to the deal.

Industry analyst Michael Pachter doubts the game is worth much because it would cost tens of millions to finish.

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Bill to add FDA control over compounding pharmacies

A bipartisan committee on Capitol Hill has crafted a bill intended to prevent a public health crisis like the fatal meningitis outbreak last year that was linked to a Bay State compounding pharmacy.

The Drug Quality and Security Act would give the Food and Drug Administration greater authority over compounding pharmacies, which currently are regulated by states, by putting some in a separate category that would require them to register with the FDA, submit to inspections by the agency and notify authorities in the event of a problem.

"Compounding pharmacies have been governed by fragmented regulations for too long, leading to one of the worst public health disasters in recent memory," U.S. Sen. Edward J. Markey said, referring to the New England Compounding Center debacle, which led to the deaths of more than 60 people and the sickening of another 700 nationwide. "We need to end this regulatory black hole by giving the FDA new, clear authority to protect patients and oversee these companies, and this bill is an important step."

However, the bill leaves it up to compounders "who wish" to register with the FDA as outsourcing facilities, while others would continue to be regulated by state boards of pharmacy.

"It'll be incumbent on physicians and hospitals to purchase drugs made under a higher quality standard from FDA-registered facilities," said Allan Coukell, a drug policy expert at the Pew Charitable Trusts.

The bill also would replace the current patchwork of state prescription drug tracing laws by creating a uniform framework for tracking drugs from the manufacturer to the pharmacy.

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Boston building boom creates 8,700 jobs

Greater Boston's development boom is putting more people to work, fueling one of the biggest recoveries in construction jobs in the nation, according to a new report.

The Boston, Cambridge and Quincy metro area has added 8,700 jobs since August 2012, a 16 percent jump that was second only to the 8,900 jobs added in the greater Los Angeles area, according to a report released yesterday by the Associated General Contractors of America. The report was based on an analysis of federal employment data, the AGC of America said.

Local construction groups weren't surprised by the numbers, citing big projects with both residential and commercial components that are sprouting up all over the place.

"You look at Assembly Row, you look at the Seaport District, there are cranes everywhere. The growth is tremendous," said Gerry-Lynn Darcy, CEO of the Builders and Remodelers of Greater Boston. "The demand has far surpassed the supply."

And, she expects the increase in construction jobs to continue, thanks to the large number of projects that are in the works.

"Everything suggests that we are now going into an expansion mode," she said.

So far this year, the Boston Redevelopment authority has approved 38.9 million square feet of development worth an estimated $13.5 billion, according to BRA figures.

"We have great resources in Boston," said Darcy, adding that the kind of development taking place now bodes well for the future of the city.

"We have a lot of mixed-use development," she said. "We're very cutting edge, as a community, as a city."

Mary Gately, director of market services for the AGC of Massachusetts, said developments in Kendall Square, Quincy center and the Seaport District are especially encouraging for the industry.

"These are big projects going on, and they take a lot of manpower," she said. "We have seen a remarkable increase since 2011."

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Delegation: Delay flood zone hikes

The state's congressional delegation is urging House and Senate leaders on Capitol Hill to fix a federal law they say could result in "devastating" increases to flood insurance premiums, while the state attorney general is vowing to explore every option to block those rate hikes.

A letter yesterday, signed by all 10 Bay State congressmen, asks for an affordability study mandated by the Biggert-Waters National Flood Insurance Reform Act of 2012, which was designed to keep the National Flood Insurance program solvent.

The delegation also is asking for premium increases to be delayed for small businesses and
homeowners so that the Federal Emergency Management Agency can use that study's recommendations as FEMA adopts new flood zone maps.

"I want an affordability fix, not simply an affordability study about impacts of new flood maps," U.S. Sen. Edward J. Markey, who organized the letter, said in a statement. "The fear of rising flood waters should not be compounded by the fear of an unaffordable spike in insurance premiums. We need immediate action to ensure that business and homeowners who cannot afford these potential increases are helped."

The letter came as state Attorney General Martha Coakley vowed to explore every legal avenue to stop exorbitant premiums, including going to court.

"If we can, we will," Coakley said. "We're going to try to move on as many fronts as possible."

The lawmakers also want FEMA to improve its outreach to inform
homeowners how the new maps will affect them, and to change its appeals process.

The rate hikes go into effect next Tuesday and FEMA has been rolling out the new flood zone maps and meeting with local officials as the law phases in this year, but the changes have caught many
homeowners off guard.

Before Chase White and his wife bought their Scituate home in July, he checked FEMA's website and made sure it wasn't in a high-risk flood zone. But they decided to buy flood insurance anyway because it was only $350 per year. Now, according to FEMA's redrawn maps, their house is at greater risk of a flood, and they expect their insurance to soar to $5,500.

"I feel duped," said White, 33. "We wouldn't have bought the house if we'd known this would happen."

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State Senate votes 38-0 to repeal tech tax

The state Senate followed the House's lead yesterday, unanimously voting to repeal the so-called tech tax and sending the bill to Gov. Deval Patrick for his signature.

"Today is corrections day," said Senate Minority Leader Bruce Tarr, (R-Gloucester). "We can correct this mistake of trying to impose a tax on our innovation economy, trying to impose a tax on one of our most promising sectors as we try to recover from a recession."

The Senate voted 38-0 to repeal the 6.25 percent tax on software services, which prompted an outcry from the tech industry after it was passed in July as part of the $500 million transportation financing bill.

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Twitter, NFL reach deal to show football videos

NEW YORK — The National Football league struck a deal to show game highlights and other video content on Twitter ahead of the short messaging service's initial public offering of stock.

The deal is part of Twitter's "Amplify" program, which lets TV broadcasters show ad-supported video clips in users' Twitter feeds as the users discuss what they are watching on TV in real time. Other partners include The Weather Channel, the National Basketball Association, Warner Music and CBS.

The NFL and Twitter said Thursday that the deal will let football fans interact with NFL video content created specifically for Twitter — on computers, tablets or mobile devices. Content will include highlights from in-game highlights from NFL Network's Thursday Night Football and clips from other regular season and postseason games, along with news, analysis and fantasy football advice

The NFL said this is the first time it has partnered with a social media company.

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EBay to buy payments company Braintree for $800M

NEW YORK — E-commerce giant eBay Inc. reached a deal to buy online and mobile payments technology provider Braintree for $800 million in cash.

The move comes as eBay's PayPal unit works to evolve from its roots as an online payments provider, expanding its offline, mobile and online offerings to stores, restaurants and other business.

Braintree's payments technology is used by popular startups such as vacation rentals site Airbnb, cab-hailing app Uber and restaurant reservations site OpenTable. The company charges businesses a fee of 2.9 percent plus 30 cents per each transaction, and expects to process about $12 billion in payments this year.

San Jose, Calif.-based eBay Inc. said Thursday that it will operate Braintree as a separate business. Bill Ready, the CEO of the Chicago-based company, will report to PayPal President David Marcus.

"Braintree will continue to do what it's currently doing," Marcus said, adding that PayPal will help the company to grow and to expand internationally. EBay said that Braintree's mobile app, Venmo, will help add to PayPal's mobile payments capabilities. The app lets people pay each other using their mobile devices, similar to a service PayPal offers.

Braintree's roughly 200 employees are staying with the company.

EBay said it expects to close the deal before the end of the year. It doesn't expect the acquisition to affect its 2013 revenue, but it will lower its adjusted earnings per share by 1 cent. In July, the company forecast adjusted earnings of $2.70 to $2.75 per share and revenue of $16 billion to $16.5 billion for the full year.

Shares of eBay rose 62 cents to $54.84 in premarket trading.

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US data support markets amid budget concerns

LONDON — An improvement in U.S. economic data supported stock markets on Thursday, though concerns remained over a looming budget battle in Washington.

New data showed the number of Americans seeking unemployment benefits fell last week to 305,000, the second-lowest level in six years. The figures, combined with a report confirming the U.S. economy grew at an annualized rate of 2.5 percent in the second quarter, shored up sentiment.

European stocks recovered some of their early losses. Britain's FTSE 100 was flat at 6,555.05. Germany's DAX shed 0.1 percent to 8,655.72. France's CAC-40 lost 0.1 percent to 4,191.74.

Italian shares underperformed, however, falling 1.1 percent on concerns over the country's political stability. The members of Silvio Berlusconi's party threatened to resign en masse if the former premier is ousted from Parliament because of his conviction for fraud. That would trigger a political crisis that would undermine the country's ability to pass the reforms needed to emerge from its financial crisis.

Wall Street rose after five straight losing sessions. The Dow rose 0.5 percent to 15,352 and the S&P 500 gained the same rate to 1,701.37.

Despite the small improvement in market sentiment, traders will remain cautious in coming days as two financial deadlines for the U.S. government loom. Congress needs to pass a funding bill to keep the federal government operating after Oct. 1, when its new fiscal year starts. And the nation's borrowing limit needs to be raised before Oct. 17.

"The prospect of a U.S. Federal government shutdown is likely to undermine equity prices further in the coming days," said analysts at Capital Economics in an email commentary.

The White House and Republican lawmakers, who disagree on spending cuts and other key budget issues, have just days to reach a compromise. In 2011, a similar situation roiled markets at a time when Europe's debt crisis was flaring, and prompted Standard & Poor's to strip the U.S. of its triple A credit rating.

Earlier, in Asia, Japan's Nikkei 225 index overcame initial losses to advance 1.2 percent, closing at 14,799.12. South Korea's Kospi gained 0.5 percent to 2,007.32. Australia's S&P/ASX 200 index rose 0.4 percent to 5,294.50. Benchmarks in Indonesia and India rose, while those in Singapore, Taiwan, Thailand and the Philippines fell.

Hong Kong's Hang Seng shed 0.4 percent to 23,125.03 and the Shanghai Composite Index dropped 1.9 percent to 2,155.81. Chinese banking shares fell after reports showed a sharp drop in total yuan deposits.

In commodity markets, the benchmark oil contract for November delivery was up 34 cents to $102.98 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 47 cents on Wednesday.

In currencies, the euro fell 0.2 percent to $1.3501 and the dollar rose 0.5 percent against the Japanese yen, to 98.95 yen.

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Pamela Sampson in Bangkok contributed to this report.

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Atty General meets with JPMorgan chief

WASHINGTON — JPMorgan chief executive Jamie Dimon met Thursday with Attorney General Eric Holder about an investigation into the company's handling of mortgage-backed securities in the run-up to the recession.

A person familiar with the matter said Dimon was at the department to meet with Holder. The person was not authorized to speak on the record about the matter and spoke on condition of anonymity.

An $11 billion national settlement is under review to resolve claims against JPMorgan, according to a government official familiar with ongoing negotiations among bank, federal and New York state officials.

As he walked into the Justice Department on Thursday, Dimon declined to answer when asked about the state of the discussions.

The Department of Justice is taking the lead on the settlement, which would include $7 billion in cash and $4 billion in consumer relief, said the official, who spoke on condition of anonymity because a settlement hasn't been reached, and the official wasn't authorized to discuss it publicly.

The government has continued investigating JPMorgan over mortgage-backed securities, which lost value after a bubble in the housing market burst and helped spur the financial crisis.

In January 2012, a task force of federal and state law enforcement officials was established to pursue wrongdoing with regard to mortgage securities.

In other cases, the Justice Department last month accused Bank of America Corp. of civil fraud in failing to disclose risks and misleading investors in its sale of $850 million in mortgage bonds in 2008. The Securities and Exchange Commission filed a related lawsuit. The government estimates that investors lost more than $100 million on the deal. Bank of America is disputing the allegations.

Last week, JPMorgan agreed to pay $920 million and admitted that it failed to oversee trading that led to a $6 billion loss last year. That combined amount, in settlements with three U.S. regulators and a British one, is one of the largest fines ever levied against a financial institution.

JPMorgan came through the financial crisis in better shape than most of its rivals, and CEO Dimon had charmed lawmakers and commanded the attention of regulators in Washington.

A number of big banks, including JPMorgan, Goldman Sachs and Citigroup, previously have been accused of abuses in sales of securities linked to mortgages in the run-up to the crisis. Together they have paid hundreds of millions of dollars in penalties to settle civil charges brought by the SEC, which accused them of deceiving investors about the quality of the bonds they sold.

JPMorgan settled SEC charges in June 2011 by agreeing to pay $153.6 million and reached another such agreement for $296.9 million in November.

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Boehner: Funding bill must include GOP priorities

WASHINGTON — Speaker John Boehner says House Republicans will not accept the temporary funding bill being considered by the Senate.

Boehner told reporters Thursday, quote, "I don't see that happening." Boehner, however, refused to say how the House would change it.

The Senate is expected to pass a bill this weekend that would fund the government beyond Monday, the last day of the budget year. House Republicans previously passed a bill to fund the government that also stripped funding for President Barack Obama's health care law.

The Senate is expected to remove the health care provisions from the bill and make other changes. Boehner said House Republicans want to avoid a partial government shutdown. But to do that, the House and Senate must agree on a bill by Tuesday.

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Survey: 15 percent of Americans don't go online

NEW YORK — Chances are you're reading this online. But a new survey found that some 15 percent of Americans — about 1 in 7 — don't use the Internet at all. Most of them prefer it that way.

The study released Wednesday by the Pew Research Center's Internet and American Life Project also found that another 9 percent of U.S. adults only use the Internet when they are not at home. The report says adults with lower levels of income and education, as well as blacks and Hispanics, are significantly more likely to rely on Internet access outside of their home.

Of the people who don't go online, only 8 percent want to. The rest say they are not interested.

Nearly everyone who goes online has broadband access, the report says.

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French budget tries to turn page but growth weak

PARIS — The French government has declared the economic crisis over and is promising its new budget will bring growth and jobs. But experts are criticizing the proposals, saying they could derail the nascent recovery.

In a budget unveiled Wednesday, the government said it would cut the deficit by nearly 18 billion euros ($24 billion), 14.8 billion euros of which will come from spending cuts, the rest from taxes. The bill budgets 379.9 billion euros in spending for 2014.

The government has promised the measures will re-energize the economy by reducing the money spent on retirement and health benefits and by offering companies a tax credit if they hire. But taxpayers are grumbling about even the modest tax increase, and economists are split on the merits of cutting spending now, when the recovery is still weak.

"Purchasing power is our preoccupation," Finance Minister Pierre Moscovici told French television on the eve of the budget unveiling, calling it a budget for growth and employment.

Much of the criticism of the budget, however, was that it is in fact likely to hurt household spending.

Though the government argues the budget provides relief for lower income households, economists note that the tax credit meant to boost hiring at companies is being paid for largely by a hike to the sales tax. That directly takes money out of the pockets of shoppers of all incomes.

In terms of reducing the deficit, the budget is part of Paris' belated effort to fall in line with the rest of Europe's focus on cutting state spending. When counting items not included in the budget, France's public spending accounts for a stunning 57 percent of the country's 2 trillion-euro ($2.7 trillion) gross domestic product.

The slow approach is typical of Francois Hollande's tenure. The French president is famous for trying not to be famous. His most notable domestic policy so far, the creation of a 75 percent tax for millionaires, was rejected by a court and amended and reduced to the point that it lost much of its shock value. It was written into the new budget as a 50 percent tax paid by employers on all remuneration above 1 million euros.

The delays in reforms have drawn a critical eye from the European Commission, the executive arm of the European Union, and Germany, which led the push for austerity in Europe. While the Commission has softened its stance somewhat — notably giving France more time to reduce its deficit — the re-election of German Chancellor Angela Merkel this weekend was an endorsement of her tough line.

But the new budget is also coming under fire in some quarters for cutting too much since lower spending will hurt growth in the short term, just as the country is emerging from recession and with unemployment at 11 percent.

The economy grew 0.5 percent in the second quarter after contracting for two quarters. The figure, which could be revised as early as Friday, was stronger than expected, but experts warn it may have overstated the country's economic health.

Eric Heyer, an economist with the French Observatory for Economic Forecasts, says the economy remains in trouble and so spending cuts are still not advisable.

He estimates that spending cuts and tax increases — both in France and around Europe — will shave 1.3 percent off France's economic growth next year. Still, the observatory's forecast is among the most positive at a 1.3 percent increase in GDP. The consensus is somewhere just below 1 percent; the French government built its budget around a 0.9 percent estimate.

Heyer cautions that a return to growth doesn't mean France is rebounding.

"We can't talk about a recovery as long as economic growth is around 1 percent," he said. "Since today, we produce less than five years ago, we are still in recession. That's the real definition of a recession."

"The real rebound will be when we have a production level well above 2007 and when the economy has started to create jobs again. That's not in the government's scenario."

Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics in Washington, notes France has escaped the financial crisis without the explosions of unemployment and deep recessions seen in Southern Europe. But that also means it no longer has the motivation to make the real, deep reforms it also avoided.

"There's never going to be a hard landing. ... It's going to be a gradual underperformance," not only compared with Germany but also with traditionally weaker countries like Spain and Italy, he said.

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Review: New Surface tablets make typing easy

NEW YORK — Is Microsoft's Surface a tablet or a laptop?

I'm not quite sure, but it is a lot easier to type on than an iPad.

The software company unveiled updates to its Surface tablet computers Monday at an event in New York, where I had a short amount of time to try them out.

It almost seems unfair to categorize the new Surface 2 and Surface Pro 2 as tablets. Although they have touch-screen keyboards like regular tablets, they work best when attached to an optional cover with a keyboard on the inside.

The better one I tried was the Type Cover 2. In addition to coming in four fun colors — pink, purple, blue and black — that cover has backlighting, silent keys and a typing feel similar to that of a laptop keyboard. At $130, it is just $10 more than a Touch Cover 2, which doesn't have movable keys like real keyboards.

The slick wireless mouse designed for the tablets is helpful, too, as is the docking station created to go with the Pro version of Surface.

The result is something that looks more like a laptop than an iPad or Android tablet. And that's what Microsoft wants, calling its tablets the most productive on the market. The Surface 2 model even comes with a version of Microsoft Office, including the Outlook email and calendar program for the first time.

The Surface 2 starts at $449 and runs a lightweight version of Windows called RT, meaning it works only with apps designed specifically for it. The Surface Pro 2 starts at $899 and runs a full version of Windows, so it works with programs designed for traditional desktops and laptops. Both come with 200 gigabytes of online storage through Microsoft's SkyDrive for two years.

With the Surface, Microsoft is trying to create a seamless transition between home, work and the field. Microsoft doesn't want this device to just replace your tablet and laptop, but your office PC as well. It's a great idea, and I'll be interested to see if it can actually work in practicality.

Like a laptop, both the Surface 2 and the Surface Pro 2 balanced well and didn't slide around on my lap when attached to keyboards. I felt very comfortable typing and had a clear view of the screen.

A setup like this would be very helpful for all those events I've had to cover, including Monday's, where I wasn't able to sit at a table and had to balance my tablet or laptop on my lap while I typed. For the new versions, Microsoft improved the built-in kickstand used to hold the tablet up like a laptop screen. It is sturdier and works in two positions, one for sitting on your lap and another for placing on a table. The kickstand on older Surfaces had just one position, for the table.

My only complaint is that the keyboard was just a little bit too big for my lap and didn't have quite enough space to lay flat. But at 5 foot, 2 inches, I'm small. If you're taller, you shouldn't have a problem.

Although the tablets are focused on productivity, they also have some fun elements. Besides the usual games and apps available in Microsoft's app store, the Surface Pro 2 can be used to play PC and Xbox games such as the popular "World of Warcraft" and "Halo" series. Although you don't quite get the same visual experience as you do with a big screen, gamers will like portability. It's a big step up from playing "Angry Birds" or "Fruit Ninja." (Yes, those games are available in Microsoft's app store, too.)

Both Surface models felt a little bulky and heavy to me. That said, the Surface 2 weighs about the same as the latest version of the full-size iPad at about 1.5 pounds, while the Surface Pro 2 weighs in at 2 pounds.

At the same time, the Surface tablets feel a little more rugged than an iPad. Microsoft touts them as nearly indestructible, pointing to their heavy-duty glass and magnesium-alloy casing. It claims you could hit it with a sledge hammer or run it over with a car. I can't wait to hand one to my less-than-gentle 3-year-old daughter and see what damage she's able to inflict on it.

According to Microsoft, both tablets feature significant improvements in speed, cameras and battery life. I didn't have enough time with the devices to test those out, and I'm looking forward to spending more time with it. And it'll be interesting to see how well the Pro version works as a desktop when attached to a docking station, which will sell for about $200 when it comes out early next year.

Based on an early look, though, Microsoft seems to have learned from its mistakes and refreshed the Surface lineup with devices that feel better on the lap.

22.26 | 0 komentar | Read More

US borrowing authority to be exhausted by Oct. 17

WASHINGTON — Treasury Secretary Jacob Lew said Wednesday the government will have exhausted its borrowing authority by Oct. 17, leaving the United States just $30 billion cash on hand to pay its bills.

That's a slightly worse financial position than Treasury predicted last month and adds to the pressure on Congress to increase the government's borrowing cap to avert a first-ever U.S. default on its obligations.

In a letter to top congressional leaders, Lew warned that a repeat of the debt brinksmanship of 2011 could inflict great harm on the economy and that "if the government should ultimately become unable to pay all of its bills, the results could be catastrophic."

The government reached its $16.7 trillion debt limit in May. Since then, it has been using "extraordinary measures" such as suspending U.S. investments in federal employee trust funds to create about $300 billion in additional borrowing room.

But on the 17th the government will be left with only its cash cushion and daily receipts to pay its bills. Lew warned that before long it would not be able to meet all of its obligations. Economists and financial market experts warn that the stock market could plummet and that investors would demand higher returns on Treasury notes, which could raise interest rates and harm the economy.

It's generally assumed that Treasury would make sure that the government wouldn't default on Treasury notes held by investors, including foreign countries like China, If it did default on such debt obligations it could be a catastrophe for the economy.

A House-passed stopgap spending measure pending before the Senate contains a GOP-backed provision that would give Social Security recipients and bondholders priority in receiving payments from the government.

Lew again warned that President Barack Obama would not negotiate with Republicans over the debt limit.

"The president remains willing to negotiate over the future direction of fiscal policy, but he will not negotiate over whether the United States will pay its bills for past commitments," Lew wrote. Extending borrowing authority does not increase government spending; it simply allows the Treasury to pay for expenditures Congress has already approved."

Republicans want to add budget cuts and other legislation like a one-year delay of "Obamacare." House leaders hope to bring a debt limit increase to the floor by the end of this week but they haven't released any details yet.

22.26 | 0 komentar | Read More

Lawsuit in Binghamton shooting rampage dismissed

BINGHAMTON, N.Y. — A federal judge has dismissed a $3.75 million lawsuit filed against sporting goods retailer Gander Mountain by the husband of a woman killed in a shooting rampage at a Binghamton civic organization four years ago.

Samir Muhammad Al-Salihi's lawsuit filed in April 2011 alleged that the St. Paul, Minn.-based company's employees were negligent in selling Jiverly Wong semi-automatic pistols and ammunition. Al-Salihi's wife was among the 13 people who Wong killed at the American Civic Association in April 2009 before committing suicide.

The lawsuit alleged that Wong exhibited signs of being mentally unstable while purchasing the firearms, and that Gander Mountain should have been on notice that he was likely to use the guns to harm himself or others.

U.S. District Judge Norman Mordue dismissed the complaint in a 30-page decision issued Friday, according to the Press & Sun-Bulletin of Binghamton.

"There is simply no evidence demonstrating that ... Gander Mountain knew or should have known that Wong posed an unreasonable risk of harm to himself or others," Mordue wrote.

According to court documents, Wong purchased two firearms at Gander Mountain's former Johnson City store that were later found at the scene of his shooting rampage.

Arguments in the lawsuit hinged on evidence of Wong's behavior in front of Gander Mountain employees. Four current and former workers were subjected to depositions, and Gander Mountain provided a videotape of Wong's presence in the store.

Mordue drew heavily from the employees' statements.

"He was a quiet man who frequently visited the store, was always by himself, and never caused trouble while on the premises," Mordue wrote.

Kelly Fischer, the Binghamton-based attorney representing Al-Salihi, could not immediately be reached for comment.

Al-Salihi's lawsuit against Gander Mountain had been the sole civil lawsuit stemming from the shooting.

22.26 | 0 komentar | Read More

Boston Herald - Boston Herald

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&amp;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&amp;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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http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/casinos_tap_intelligence_network_to_beat_cheaters <p>UNCASVILLE, Conn. — Casinos in the Northeastern U.S. increasingly are tapping a shared intelligence network to stay ahead of cheaters.</p><p>A bettor was arrested last week at Connecticut's Mohegan Sun casino after a surveillance worker recognized him from a security bulletin issued by authorities in Louisiana.</p><p>Mohegan Sun officials say the arrest of the man who was allegedly marking cards with invisible ink represents a culmination of cooperation that began taking off a decade ago.</p> Technology News Sun, 22 Sep 2013 11:13:55 -0400 Associated Press 1063310971 http://bostonherald.com/business/business_markets/2013/09/ap_records_show_maine_gov_tried_to_jam_wind_plan <p>AUGUSTA, Maine — Before its public push to have Maine reconsider wind energy proposals, Gov. Paul LePage's administration worked behind the scenes to explicitly derail Norwegian company Statoil's multimillion-dollar agreement with the state for an offshore wind project, according to documents obtained by The Associated Press.</p> Business & Markets Sun, 22 Sep 2013 11:13:36 -0400 Associated Press 1063310861 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed several agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 10:22:01 -0400 Associated Press 1063310456 http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece has resumed talks with the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund — to review progress in stabilizing the indebted country's finances.</p> Business & Markets Sun, 22 Sep 2013 08:57:34 -0400 Associated Press 1063310511 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced trouble with a computer data link Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p><p>The Virginia-based company said it is working on a software repair, but it will be at least two more days until another approach is attempted.</p> Technology News Sun, 22 Sep 2013 07:17:08 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money over man as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 05:33:21 -0400 Associated Press 1063310211 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511 http://bostonherald.com/business/business_markets/2013/09/west_hollywood_institutes_nations_first_fur_ban <p>WEST HOLLYWOOD, Calif. — West Hollywood is now the only city in America where it's a crime to sell fur apparel.</p><p>The Los Angeles Times reports that after years of debate, the ban took effect Saturday.</p><p>It only applies to apparel that's made to be worn, such as shoes, hats and gloves. Ugg boots can't be sold because they contain shearling, a sheepskin or lambskin pelt that's had limited shearing.</p><p>The Southern California city calls itself a cruelty-free zone for animals and is famous for animal-friendly laws.</p> Business & Markets Sat, 21 Sep 2013 15:11:44 -0400 Associated Press 1063306406 http://bostonherald.com/business/business_markets/2013/09/chiquita_seeks_dismissal_in_colombian_case <p>MIAMI — Faced with potentially billions of dollars in legal liability, Chiquita Brands International is asking a federal appeals court to block lawsuits filed against it in the U.S. by thousands of Colombians whose relatives were killed in that country's bloody, decades-long civil war.</p> Business & Markets Sat, 21 Sep 2013 13:57:43 -0400 Associated Press 1063305776 http://bostonherald.com/business/business_markets/2013/09/russia_warns_ukraine_against_eu_deal <p>YALTA, Ukraine — A top Russian official on Saturday warned Ukraine against signing a landmark trade and cooperation agreement with the European Union, saying Moscow would retaliate with trade restrictions that could push this ex-Soviet republic toward default.</p> Business & Markets Sat, 21 Sep 2013 11:10:22 -0400 Associated Press 1063305806 http://bostonherald.com/business/business_markets/2013/09/gunmans_employer_sought_navy_consulting_work <p>WASHINGTON — A little more than 24 hours after an IT contractor shot dozen workers at the Washington Navy Yard, the company's CEO told the Navy secretary he had the experience to help improve military security.</p><p>The email from The Experts chief Thomas Hoshko, which included descriptions of his background and expertise, stunned some Navy leaders in the wake of the shootings Monday that left 13 people dead, including the gunman, former Navy reservist Aaron Alexis.</p> Business & Markets Sat, 21 Sep 2013 11:03:33 -0400 Associated Press 1063305866 http://bostonherald.com/business/business_markets/2013/09/microloans_surging_in_silicon_valley <p>SAN JOSE, Calif. — A daycare provider needed cribs and high chairs. A coffee truck needed a generator. A couple renting party supplies needed to move into a storefront.</p><p>When these Silicon Valley small businesses needed cash, and fast, they didn't find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer.</p><p>Microlending, a decades old form of financing for the world's poorest, is now booming in Silicon Valley.</p> Business & Markets Sat, 21 Sep 2013 10:51:07 -0400 Associated Press 1063305801 http://bostonherald.com/business/business_markets/2013/09/uk_charges_4_in_cyber_theft_from_barclays_bank <p>LONDON — British police have charged four men in connection with the theft of 1.3 million pounds ($2.1 million) from a Barclays Bank branch.</p><p>The men — aged between 26 and 47 — were arrested Friday and accused of installing a device on the bank's computer system made it possible to carry out the cyber theft.</p><p>Police said cash, jewels and thousands of credit cards were found in related searches of addresses in the greater London area.</p> Business & Markets Sat, 21 Sep 2013 04:59:08 -0400 Associated Press 1063305441 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531

http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/casinos_tap_intelligence_network_to_beat_cheaters <p>UNCASVILLE, Conn. — Casinos in the Northeastern U.S. increasingly are tapping a shared intelligence network to stay ahead of cheaters.</p><p>A bettor was arrested last week at Connecticut's Mohegan Sun casino after a surveillance worker recognized him from a security bulletin issued by authorities in Louisiana.</p><p>Mohegan Sun officials say the arrest of the man who was allegedly marking cards with invisible ink represents a culmination of cooperation that began taking off a decade ago.</p> Technology News Sun, 22 Sep 2013 11:13:55 -0400 Associated Press 1063310971 http://bostonherald.com/business/business_markets/2013/09/ap_records_show_maine_gov_tried_to_jam_wind_plan <p>AUGUSTA, Maine — Before its public push to have Maine reconsider wind energy proposals, Gov. Paul LePage's administration worked behind the scenes to explicitly derail Norwegian company Statoil's multimillion-dollar agreement with the state for an offshore wind project, according to documents obtained by The Associated Press.</p> Business & Markets Sun, 22 Sep 2013 11:13:36 -0400 Associated Press 1063310861 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed several agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 10:22:01 -0400 Associated Press 1063310456 http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece has resumed talks with the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund — to review progress in stabilizing the indebted country's finances.</p> Business & Markets Sun, 22 Sep 2013 08:57:34 -0400 Associated Press 1063310511 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced trouble with a computer data link Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p><p>The Virginia-based company said it is working on a software repair, but it will be at least two more days until another approach is attempted.</p> Technology News Sun, 22 Sep 2013 07:17:08 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money over man as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 05:33:21 -0400 Associated Press 1063310211 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511 http://bostonherald.com/business/business_markets/2013/09/west_hollywood_institutes_nations_first_fur_ban <p>WEST HOLLYWOOD, Calif. — West Hollywood is now the only city in America where it's a crime to sell fur apparel.</p><p>The Los Angeles Times reports that after years of debate, the ban took effect Saturday.</p><p>It only applies to apparel that's made to be worn, such as shoes, hats and gloves. Ugg boots can't be sold because they contain shearling, a sheepskin or lambskin pelt that's had limited shearing.</p><p>The Southern California city calls itself a cruelty-free zone for animals and is famous for animal-friendly laws.</p> Business & Markets Sat, 21 Sep 2013 15:11:44 -0400 Associated Press 1063306406 http://bostonherald.com/business/business_markets/2013/09/chiquita_seeks_dismissal_in_colombian_case <p>MIAMI — Faced with potentially billions of dollars in legal liability, Chiquita Brands International is asking a federal appeals court to block lawsuits filed against it in the U.S. by thousands of Colombians whose relatives were killed in that country's bloody, decades-long civil war.</p> Business & Markets Sat, 21 Sep 2013 13:57:43 -0400 Associated Press 1063305776 http://bostonherald.com/business/business_markets/2013/09/russia_warns_ukraine_against_eu_deal <p>YALTA, Ukraine — A top Russian official on Saturday warned Ukraine against signing a landmark trade and cooperation agreement with the European Union, saying Moscow would retaliate with trade restrictions that could push this ex-Soviet republic toward default.</p> Business & Markets Sat, 21 Sep 2013 11:10:22 -0400 Associated Press 1063305806 http://bostonherald.com/business/business_markets/2013/09/gunmans_employer_sought_navy_consulting_work <p>WASHINGTON — A little more than 24 hours after an IT contractor shot dozen workers at the Washington Navy Yard, the company's CEO told the Navy secretary he had the experience to help improve military security.</p><p>The email from The Experts chief Thomas Hoshko, which included descriptions of his background and expertise, stunned some Navy leaders in the wake of the shootings Monday that left 13 people dead, including the gunman, former Navy reservist Aaron Alexis.</p> Business & Markets Sat, 21 Sep 2013 11:03:33 -0400 Associated Press 1063305866 http://bostonherald.com/business/business_markets/2013/09/microloans_surging_in_silicon_valley <p>SAN JOSE, Calif. — A daycare provider needed cribs and high chairs. A coffee truck needed a generator. A couple renting party supplies needed to move into a storefront.</p><p>When these Silicon Valley small businesses needed cash, and fast, they didn't find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer.</p><p>Microlending, a decades old form of financing for the world's poorest, is now booming in Silicon Valley.</p> Business & Markets Sat, 21 Sep 2013 10:51:07 -0400 Associated Press 1063305801 http://bostonherald.com/business/business_markets/2013/09/uk_charges_4_in_cyber_theft_from_barclays_bank <p>LONDON — British police have charged four men in connection with the theft of 1.3 million pounds ($2.1 million) from a Barclays Bank branch.</p><p>The men — aged between 26 and 47 — were arrested Friday and accused of installing a device on the bank's computer system made it possible to carry out the cyber theft.</p><p>Police said cash, jewels and thousands of credit cards were found in related searches of addresses in the greater London area.</p> Business & Markets Sat, 21 Sep 2013 04:59:08 -0400 Associated Press 1063305441 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531

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