Bill would ban "fracking" in Mass. for 10 years

BOSTON — A bill aimed at temporarily banning the natural gas drilling technique known as hydraulic fracturing — or fracking — is making its way through the Massachusetts Statehouse.

The Legislature's Joint Committee on Environment and Natural Resources has approved a bill that would create a 10-year moratorium on the technique in Massachusetts.

Environmental activists argue that fracking can lead to water contamination, illness, and damaged rural landscapes.

Supporters say the technique is safe and is a way to extract natural shale gas that would otherwise remain trapped underground, helping keep energy prices down.

There could be limited shale gas deposits in western Massachusetts.

The bill must still be approved by lawmakers and signed by Gov. Deval Patrick before becoming law.

Vermont last year became the first state to ban hydraulic fracturing.

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Mass. promotes locally-grown Christmas trees

BOSTON — State officials are urging residents to buy locally-grown Christmas trees this season.

State agriculture commissioner Greg Watson joined other state and local officials for Friday's annual tree-cutting ceremony at Crane Neck Christmas Tree Farm in Groveland.

Watson said locally-grown trees and renewable and recyclable, and an important part of the state's economy.

According to the latest U.S. Department of Agriculture figures, there are 284 Christmas tree farms in Massachusetts, producing more than 75,000 trees each year.

The vast majority of Christmas trees are grown on farms, limiting damage to forests.

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Troubled Vatican bank names consultant as manager

VATICAN CITY — The troubled Vatican bank announced its new top manager Saturday, promoting an outside consultant who had stepped in when the bank's top two managers resigned amid scandal last summer.

Rolando Marranci had worked for Promontory Financial Group advising the Institute for Religious Works on cleaning up its accounts when he was named acting deputy director July 1. The bank's senior managers, Paolo Ciprianni and Massimo Tulli, had been forced out after a Vatican accountant with close ties to the bank was arrested for trying to bring 20 million euros ($26 million) into Italy from Switzerland without declaring it at customs.

At the time of the ouster, the bank's president, Ernst Von Freyberg, was named acting director while he continued on as president and board member, a seeming conflict of interest that appears to be resolved now that Marranci has taken over day-to-day operations of the institute.

Von Freyberg remains on as president.

Marranci's appointment was announced Saturday, days before the Vatican is due to be evaluated by the Council of Europe's Moneyval committee on its progress complying with international norms to fight money laundering and terror financing.

The Vatican passed Moneyval's first test in the summer of 2012 but received poor or failing grades for its financial watchdog agency and the IOR, specifically the bank's ability to ensure that its customers and transactions were clean.

Promontory has been going through the IOR's accounts to ensure they comply with international norms. That task was due to have been completed at the end of 2012 but has dragged on. The Holy See has also passed a series of new laws to respond to Moneyval's recommendations ahead of the new evaluation round.

At the same time, Pope Francis named a commission of inquiry to look into the bank's legal structure and activities as part of his overall reform of the Holy See's finances.

Marranci, 60, retired in 2011 from Italy's Banca Nazionale del Lavoro, where he had held several accounting positions and, among other jobs, was chief financial officer of BNL's London branch.

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VP Biden trying to show US still focused on Asia

WASHINGTON — It's up to Vice President Joe Biden to show that the U.S. effort to realign its gaze toward Asia hasn't fizzled out.

Biden is set to arrive Monday in Tokyo on a weeklong trip to Asia, which is watching carefully to see how committed the Obama administration is to increasing America's influence in the region as a hedge against an increasingly assertive China.

In meetings with leaders in Japan, China and South Korea, the vice president will seek to show that while the administration has been preoccupied with Mideast flare-ups and a series of domestic distractions, the U.S. remained determined to be a Pacific power.

At the same time, disputes among Asian nations seem to be boiling over, threatening instability in a region that's vital to the U.S. economy.

American allies Japan and South Korea are barely speaking. China is butting heads with its neighbors and with the U.S. about Beijing's new air defense zone over a group of tiny islands that have exacerbated long-simmering territorial conflicts. The U.S. on Friday advised American carriers to comply with China's demand that it be told of any flights passing through that defense zone.

Early in his presidency, Obama declared the U.S. was "all in" when it came to the Asia-Pacific. His administration pledged to increase its influence, resources and diplomatic outreach in the region, and to bolster the U.S. military footprint so that by 2020, 60 percent of the Navy's warships would be based there, compared with 50 percent now.

The concern was that as China came into its own as a superpower, its sway over other Asian nations would grow, too.

But in Obama's second term, Iran, Syria and Egypt have absorbed the president's attention on foreign policy matters. At home, the administration has been consumed with a health care rollout that's become a major political problem, while intense gridlock in Congress has bogged Obama down in domestic disputes.

To cap it off, Obama had to scrap a much-anticipated trip to Asia in October because the federal government was shut down. His absence led many in the region to wonder if it remained an Obama priority.

Obama's national security adviser, Susan Rice, said recently it does. She announced that President Barack Obama will visit Asia in April and promised that the U.S. will keep deepening its commitment to Asia "no matter how many hot spots emerge elsewhere."

But Rep. Steve Chabot, R-Ohio, said he's heard loud concerns as he's traveled the region as the chairman of the House subcommittee dealing with Asia.

"In each country I've gotten this feedback: 'When do you think the president is going to put some meat on the bones?'" Chabot said. "It's been mostly just talk, and mostly diplomatic engagement. They want to get beyond just talk."

On his first stop, Biden will meet with Japanese Prime Minister Shinzo Abe before focusing on women's issues with the new U.S. ambassador, Caroline Kennedy. In Beijing, Biden hold talks meet with China's president, Xi Jinping, vice president, Li Yuanchao, and premier, Li Keqiang.

After meeting with South Korean leaders in Seoul, Biden will give a major speech on the U.S.-Korea relationship at Yonsei University and lay a wreath at a cemetery honoring fallen U.S. troops.

The trip comes at a critical time.

The U.S. is trying to complete a major trade agreement by year's end, but it's not certain the deadline with be honored. The Trans-Pacific Partnership involving the U.S., Japan and 10 other nations could clear the way for much greater trade with Asia, in line with Obama's ambitious goal to double U.S. exports by 2015.

Issues of market access, environmental protections and intellectual property remain controversial. It's also unclear whether Congress will approve the pact without making changes, potentially derailing the deal.

For Xi and Biden, their visit will be something of a reunion. The two exchanged official visits when Xi was vice president, spending hours together as the U.S. tried to learn as much as possible about the man who would become party leader in 2012.

Biden's visit comes two weeks after China's leaders outlined a market reform plan that could be the country's most significant economic overhaul in at least two decades. The Communist Party conference marked the unveiling of Xi's vision.

But China's new air defense zone over the East China Sea may overshadow Biden's mission. The administration said Biden would raise the issue directly with Chinese leaders.

China announced last week that all aircraft entering the zone — a maritime area between China, Taiwan, South Korea and Japan — must notify Chinese authorities beforehand and that it would take unspecified defensive measures against those that don't comply.

Neighboring countries and the U.S. have said they will not honor the new zone, which is believed aimed at claiming disputed territory, and have said it unnecessarily raises tensions.

China's defense ministry said fighter jets identified and monitored the two U.S. reconnaissance aircraft and a mix of 10 Japanese early warning, reconnaissance and fighter planes during their flights through the zone early Friday.

The U.S. has tried to stay out of such territorial disputes, but treaty obligations to Japan sometimes get in the way. As China, Japan and others adopt increasingly aggressive military stances, the U.S. worries about an increased likelihood of a mishap spiraling quickly out of control.

In South Korea, the nuclear threat from an unpredictable North Korea is a chief item on Biden's agenda.

The deal the U.S. helped strike with Iran to temporarily freeze its nuclear program is a stark reminder of the impasse in negotiations with North Korea. Unlike Iran, North Korea is believed to already have a nuclear bomb, and there's worrying evidence it is pressing ahead with weapons development.

Meanwhile, state media in the North claimed Saturday that an elderly U.S. tourist detained for more than a month has apologized for alleged crimes during the Korean War and for "hostile acts" against the state during a recent trip. The apology couldn't be independently confirmed.

Biden may try to play mediator between South Korea and Japan, whose long-troubled relations are souring over painful legacies from Japanese colonialism and World War II. Nationalist sentiments in Tokyo have been pitted against Seoul's desire for more public remorse from Japan over its use of Korean sex slaves during the war, and other injustices.

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Reach Josh Lederman on Twitter at http://twitter.com/joshledermanAP

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Pioneering offshore wind project faces deadlines

BOSTON — As it seeks investors, a project off the Massachusetts coast that aims to be the nation's first offshore wind farm must reach fast-approaching benchmarks or risk missing out on hundreds of millions in critical funding.

To qualify for a tax credit that would cover a major portion of its capital costs, Cape Wind either must begin construction by Dec. 31 or prove it's incurred tens of millions of dollars in costs by then.

Also, a $200 million investment — the only one of a specific dollar amount Cape Wind has announced — is conditioned on whether developers can fully finance the rest of the project by year's end.

With less than two months until the deadline, Cape Wind isn't publicly discussing financing efforts. It also has yet to start on-site construction and isn't detailing how it can qualify for the tax credit, only that it expects to.

Even if Cape Wind fails to qualify, spokesman Mark Rodgers said, "We will move this project forward, we will secure financing and we will construct the project."

The 130-turbine, $2.6 billion Cape Wind project was proposed for Nantucket Sound in 2001 and touted as a large, clean energy source near a high-demand coastal area. It's been delayed by a thick bureaucracy and opponents who say the project will ruin the sound and threaten wildlife and maritime traffic.

Cape Wind has sold about three-quarters of its planned power output to two local utilities and aims to be producing power for homes and businesses in Massachusetts by 2015.

First, it must continue to lock down what financing it has and get more of it.

Of two major federal tax subsidies available to renewable energy projects, Rodgers said Cape Wind is pursuing one, an investment tax credit, which could cover a hefty 30 percent of its capital construction costs.

But to qualify for the credit, the project must have begun construction by Dec. 31. Alternatively, Cape Wind can qualify if developers incur 5 percent of the wind farm's cost by year's end.

If the project doesn't qualify for the credit, Cape Wind would be left to fill a huge financing hole. And under its deals with the utilities, failure to obtain the credit would increase the starting price of its power from 20 cents per kilowatt hour to 22.7 cents, with 3.5 percent annual increases.

It's unclear how that would impact the average utility customer's bill. But estimates when the utilities struck their deals (and Cape Wind's starting price was projected at a lower 18.7 cents per kilowatt hour) indicated their average ratepayers would pay about $1 to $1.50 extra per month for Cape Wind's power.

Any further bump in price is sure to inflame critics, who frequently note that Cape Wind's power is far more expensive than other energy sources, including more than double that of land wind.

Though Cape Wind hasn't started erecting turbines in Nantucket Sound, IRS regulations provide other ways to qualify as having begun construction, said Arnold Grant, a tax law expert at Reed Smith, which helps develop renewable energy projects but isn't tied to Cape Wind.

For instance, if an offshore wind farm's turbine supplier is doing significant work off-site, that can count toward having begun construction.

Grant also said meeting the 5 percent costs milestone doesn't even require the company to spend the money by Dec. 31. The delivery of goods from a large equipment contract, for example, can help a company meet the threshold, even the company hasn't paid the contract by year's end.

The bottom line, Grant said, is that companies looking to qualify for the investment tax credit can usually figure it out.

"The rules are out there. You need to satisfy them, but there are different ways of doing it," he said.

Audra Parker of the Alliance to Protect Nantucket Sound, a Cape Wind opponent, said the fact construction hasn't started in the sound speaks to Cape Wind's slow progress, whether it gets the credit or not.

"They can't begin physical construction in Nantucket Sound, so any other means of wasting taxpayer money on Cape Wind would be obtained through a loophole," Parker said.

It may be a steeper climb for Cape Wind to secure more than $2 billion in financing by year's end to meet the conditions of the Danish pension fund PensionDanmark's $200 million investment.

Even if PensionDanmark comes through with a commitment, the project appears well short of the needed financing, said Parker. Cape Wind is pursuing a loan guarantee from the Department of Energy, but it's unknown when a decision will be made.

Parker said she doubts Cape Wind can be financed without it.

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Report: Financial services help drive Mass

BOSTON — A new study says the financial services industry in Massachusetts remains strong even though not all the jobs lost in the recession have been replaced.

Banks, insurance companies, money managers, and brokerage firms account for $36 billion, or 9 percent, of the state's total economic output, according to the study released Friday by Mass Insight, a Boston research firm, and consulting firm PricewaterhouseCoopers.

Although the sector has cut about 3 percent of its jobs in Massachusetts since 2009, it still employs nearly 166,000.

William Guenther, chairman and founder of Mass Insight, tells The Boston Globe (http://b.globe.com/Ikyclo ) it's the supporting sector that makes it possible for life sciences, health, and education to do well.

The report says the average salary for a financial services worker in Massachusetts was about $114,000 last year.

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Information from: The Boston Globe, http://www.bostonglobe.com

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Correction: Germany-Amazon story

BERLIN — In a story Nov. 25 about a strike against Amazon.com in Germany, The Associated Press erroneously reported that the union ver.di represents about 2,000 Amazon employees in Leipzig and 3,300 in Bad Hersfeld.

The German news agency dpa reported that Amazon employs around 2,000 in Leipzig and more than 3,300 in Bad Hersfeld without saying how many were union members. Union spokeswoman Christiane Scheller said ver.di does not release membership figures as a matter of policy.

A corrected version of the story is below:

Amazon workers on strike in Germany

Amazon workers on strike in Germany; threaten more ahead of Christmas if no new wage agreement

BERLIN (AP) — Hundreds of Amazon.com Inc. workers are staging a strike in Germany and the union says there will be more to come in the run-up to Christmas unless the online retailer raises wages.

The one-day warning strike Monday at Amazon's distribution centers in Bad Hersfeld and Leipzig were the latest of several as the ver.di union pushes for wage agreements similar to those governing retail and mail-order workers.

Amazon has already agreed to pay Christmas bonuses but ver.di says the concession isn't enough and it "is in Amazon's hands" whether there are more strikes.

Amazon says that its warehouses are logistics centers and employees are already paid on the upper end of what other workers in that industry earn.

Union spokeswoman Christiane Scheller said ver.di does not release membership figures as a matter of policy.

The German news agency dpa reported that Amazon employs around 2,000 workers in Leipzig and more than 3,300 in Bad Hersfeld without stipulating whether all are union members.

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Holiday shopping season begins on Thanksgiving

NEW YORK — Shoppers gobbled turkey, but saved the pumpkin pie for later on Thanksgiving Day.

As more than a dozen major retailers from Target to Toys R Us opened on Thanksgiving, shoppers across the country got a jump start on holiday shopping. The Thanksgiving openings come despite planned protests across the country from workers' groups that are against employees missing Thanksgiving meals at home.

More than 200 people stood in line at the Toys R Us store in Manhattan before its 5 p.m. opening.

Green Bryant was first in line at 10 a.m. The restaurant manager ended up buying a dollhouse for $129 — $30 off — a Barbie doll and a LeapFrog learning system. Bryant, 28, said she didn't miss Thanksgiving festivities but was going home to cook a Thanksgiving meal for her two children.

"It was worth it," she said. "Now I gotta go home and cook."

At a Target store in Brooklyn about 25 people were waiting in line at 2:50 p.m. for the 8 p.m. opening, an hour earlier than a year ago.

Theresa Alcantaro, 35, a crossing guard, was waiting with her 12-year-old son to buy an Xbox One. It wasn't on sale, but supplies have been scarce. She was missing a gathering of 40 family members but said she would meet up after shopping. She hoped to be in and out by 9 p.m.

"Honestly if I can get a good deal, I do not mind," she said about Thanksgiving shopping. "I see my family every day. They understand."

The holiday openings are a break with tradition. The day after Thanksgiving, called Black Friday, for a decade had been considered the official start to the holiday buying season. It's also typically the biggest shopping day of the year.

But in the past few years, retailers have pushed opening times into Thanksgiving night. They've also pushed up discounting that used to be reserved for Black Friday into early November, which has led retail experts to question whether the Thanksgiving openings will steal some of Black Friday's thunder.

In fact, Thanksgiving openings took a bite out of Black Friday sales last year: Sales on turkey day were $810 million last year, an increase of 55 percent from the previous year as more stores opened on the holiday, according to Chicago research firm ShopperTrak. But sales dropped 1.8 percent to $11.2 billion on Black Friday, though it still was the biggest shopping day last year.

"Black Friday is now Gray Friday," said Craig Johnson, president of Customer Growth Partners, a retail consultancy. "It's been pulled all the way to the beginning of November."

Stores are trying to get shoppers to buy in an economy that's still challenging. While the job and housing markets are improving, that hasn't yet translated into sustained spending increases among most shoppers. Overall, the National Retail Federation expects retail sales to be up 3.9 percent to $602.1 billion during the last two months of the year. That's higher than last year's 3.5 percent growth, but below the 6 percent pace seen before the recession.

Shoppers' financial stress was apparent at the stores on Thursday. "I struggle a lot," said Adriana Tavaraz, 51, of the Bronx, who had spent $100 buying holiday decor on Thanksgiving at a Kmart. "Nowadays, you have to think about what you spend. You have to think about tomorrow."

The Thanksgiving openings are part of retailers' holiday strategy of trying to lure shoppers in early and often during the holiday shopping season. But the stores face challenges in doing that.

Some workers have petitions on change.org to protest against Target and Best Buy. The Retail Action Project, a labor-backed group of retail workers, also is planning to have members visiting customers at stores including Gap and Victoria's Secret in Manhattan to educate them about the demands on workers.

Wal-Mart has been the biggest target for protests against holiday hours. Most of the company's stores are open 24 hours, but the retailer is starting its sales events at 6 p.m. on Thursday, two hours earlier than last year.

The issue is part of a broader campaign against the company's treatment of workers that's being waged by a union-backed group called OUR Walmart, which includes former and current workers. The group is staging demonstrations and walkouts at hundreds of stores around the country on Black Friday.

Brooke Buchanan, a Wal-Mart spokeswoman, said the discounter has received "really good feedback" from employees about working the holiday.

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Follow Anne D'Innocenzio at www.Twitter.com/adinnocenzio

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Small company helps Twitter make money

DENVER — Twitter just issued its IPO but a lingering question is how the popular worldwide microblog company will turn a profit. One Colorado-based company thinks it has found one way to help Twitter, and itself, make money.

Wayin has partnered up with the Denver Broncos to project tweeted photos and tweets from fans onto the Sports Authority Field at Mile High's Thundervision 2, the stadium's marquee 40-foot high, by 220 foot wide video scoreboard.

The software allows ads to be placed next to the tweets to generate revenue. It's unclear how that could impact Twitter's bottom line. None of the companies would discuss how much money is generated through the deal.

The Broncos rolled out Wayin's software during the game versus division rival Kansas City Chiefs on Nov. 17.

The team uses the software to search terms or so-called hashtags to find tweets by category from the thousands sent about the game and then pick the ones to send to the scoreboard and 1,100 television screens throughout the stadium, as well as to the Broncos social media hub on the Web.

"The key is that we're not just going to put up anything and everything because as you can imagine, there are some things you don't want to pull right in," said Sandy Young, senior marketing manager for the Broncos who is responsible for picking the tweets.

It's unclear how many companies such as Wayin, co-founded by Sun Microsystems founder Scott McNealy, are out there striking deals with companies to use the Twitter feed. Twitter declined to discuss the matter.

"It's no secret that Twitter has become the roar of the crowd during televised games, but we're also seeing teams embrace Twitter for the in-stadium experience," Geoff Reiss, head of sports at Twitter said in a statement.

Experts estimate that Twitter makes 85 percent of its money through so-called "native" advertising that shows up on the feed in the form of text, said Michael Myers, a business professor at the University of Denver.

"I think they'll experiment with how to make money," Myers said. "See if someone can curate their content and their data in a format that makes the customer so they don't have to reach out to the Denver Broncos themselves."

All fans have to do is send in their tweets, if they remember to charge their phones before heading to the stadium.

"Back when we had Treos and Blackberries, used to be a three-day battery life," said Evan Woock, who attended the Broncos/Chiefs game Nov. 17. "These days I can't get through a day."

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Consumer behavior aggressively tracked this season

WASHINGTON — It's a big question for marketers: What kind of a buyer are you? And, as important, what are you willing to pay?

In the search for answers this shopping season, consumer behavior online and off is being tracked aggressively with help from advances in technology.

And it can happen whether buyers are on their work computers, mobile devices or just standing in the grocery aisle. The data can be connected with other personal information like income, ZIP code and when a person's car insurance expires.

Retailers say these techniques help customize shopping experiences and can lead to good deals for shoppers. Consumer advocates say aggressive tracking and profiling also opens the door to price discrimination, with companies charging someone more online or denying them entirely based on their home price or how often they visit a site.

"You can't have Christmas any more without big data and marketers," said Jeff Chester, executive director at the Center for Digital Democracy. "You know that song where Santa knows when you've been sleeping? He knows when you're awake? Believe me, that's where he's getting his information from."

Consumer tracking has long been a part of American consumerism. Retailers push shoppers to sign up for loyalty cards, register purchased items for warranty programs and note ZIP codes to feed their mailing lists. Online stores and advertising services employ browser "cookies," the tiny bits of software code that can track a person's movements across the Internet, to analyze shoppers and present them with relevant pop-up ads.

More recently, marketers have developed increasingly sophisticated ways to combine offline and online data that creates detailed profiles of shoppers. They also are perfecting location-tracking technology as a means of attracting new customers and influencing shoppers as they wander through brick-and-mortar stores.

A major push encourages shoppers to agree to be tracked in exchange for a good deal. Brick-and-mortar stores used to balk at customers who used smartphones to compare prices at rival stores, but retailers like Target are now pushing their own mobile apps and offering in-store Wi-Fi. The mobile apps entice shoppers with coupon deals or ads as they move throughout a store, while in-store Wi-Fi is another way to track a consumer's online movements.

To further lure buyers, major holiday retailers, including Macy's, Best Buy and JCPenney, have partnered with the Shopkick mobile app. If shoppers turn on the app while in their store, they can be rewarded with discounts or song downloads for trying on clothes, scanning barcodes and making purchases.

Another app, Snapette, blends American's addiction to social media sites with location technology. Aimed at women keen on fashion, consumers can see what accessories or shoes are creating a buzz in their particular neighborhood, while stores get a chance to entice nearby shoppers with ads or coupons.

Not all new technology tracking is voluntary. Stores have been experimenting with heat sensors and monitoring cellphone signals in their stores to see which aisles attract the most attention. One product called "Shopperception" uses the same motion-detection technology in the Xbox Connect to track a customer's movement, including whether they picked up a product only to return it to the shelf. In addition to analyzing customer behavior, it can trigger nearby digital signs offering coupons and steering shoppers to certain products.

The company contends that the technology is less intrusive than other tracking devices, including security cameras, because a person's image is never stored and their movements only registered as a data point.

Marketers also are learning to overcome limitations with software cookies. One tech startup called Drawbridge claims to have found a way to link a person's laptop and mobile device by analyzing their movements online, enabling advertisers to reach the same consumer whether they're on their work computer or smartphone.

But how all that information is used and where it ends up is still unclear. The Federal Trade Commission, along with several lawmakers, has been investigating the "data broker" industry, companies that collect and sell information on individuals by pooling online habits with other information like court records, property taxes, even income. The congressional Government Accountability Office concluded in November that existing laws have fallen behind the pace of technological advancements in the industry, which enables companies to aggregate large amounts of data without a person's knowledge or ability to correct errors.

"There are lots of potential uses of information that are not revealed to consumers," said Susan Grant, director of consumer protection at the Consumer Federation of America. To protect themselves, "consumers still need to do quite a bit of shopping to make sure that they get (what) meets their needs the best and is the best price."

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Follow Anne Flaherty on Twitter: https://twitter.com/AnneKFlaherty

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Nonstop flights connect Boston, China

The first nonstop air service between Boston and Beijing will be announced next week, the Herald has learned — and it promises to dramatically boost business between a leading world technology and research zone here in the Hub and China's massive emerging market.

Massport, after years of pushing for the globe-shrinking flights, is due to announce next week that China's Hainan Airlines will launch nonstop service in June, initially four times per week, according to sources briefed on the plans. The airline filed an application with the U.S. Department of Transportation on Nov. 12 that's expected to be approved early next week, the sources told the Herald.

"China is a huge market opportunity," said Christopher Anderson, president of the Massachusetts High Technology Council. "This is obviously very welcome. It not only helps our economy gain easier access to another market — direct service to anywhere opens up access for that location to our innovation assets."

While Anderson acknowledged that U.S. business has ongoing intellectual property protection concerns in China — the world's second largest economy — he cited huge opportunities for Massachusetts-developed technologies unrelated to security concerns, including health care and energy.

"China is increasing energy consumption as their economy expands rapidly, and as they (do), they also need to increase their energy generation capa­city," Anderson said. "They have a focus on clean energy technologies. A number of those technologies are served by innovations that are located here."

Boston-Beijing flights also will be a boon for New England tourism. Chinese visitors to Boston were second only to those from the United Kingdom last year, and they've jumped 287 percent to 147,000 annually since 2008. Those numbers could as much as double in the next five years once nonstop service is added, said Greater Boston Convention and Visitors Bureau chief Pat Moscaritolo.

"It's going to mean hundreds of millions of dollars in new visitor spending for Boston, Massachusetts and New England," Moscaritolo said.

Retail is among the sectors that will benefit most significantly, said Moscaritolo, who also expects to see new tourism-­related businesses catering to Chinese visitors.

Massport wouldn't confirm the pending announcement yesterday.

"We talk to airlines all the time," spokesman Richard Walsh said. "When and if there's an announcement, we'll make it."

The DOT did not return Herald calls, and Joel Chusid, Hainan's U.S. executive director, said he "can't confirm anything yet."

By August, the 20-year-old Hainan Airlines plans to average 30 to 31 flights between Boston and Beijing per month, and carry 5,200 to 6,200 passengers on Boeing 787s, according to its DOT application. It launched its first nonstop U.S. service to Beijing from Seattle in 2008 and started Chicago flights on Sept. 3.

"We have a very kind of upscale business class," Chusid said, noting the airline offers flat-bed seats and amenities such as pajamas and slippers in first class. In economy class, Hainan "doesn't charge for all the extras that other guys do," he said.

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World of differences

With Hainan Airlines due to connect Boston and Beijing as never before, the Freedom Trail and the Great Wall of China — as well as Kendall Square and China's factories — have never been closer. Here's a look at the soon-to-be linked economic and cultural powerhouses:

• Distance: Boston and Beijing are 6740 miles apart.

• Time Difference: The sun comes up 13 hours earlier there.

• Latitude: Boston, 42 degrees; Beijing 39.9 degrees

• Population: Boston, 636,479; Beijing- 20,693,000

• Founded: Boston, 1630 A.D. Beijing, as the city of Ji, 1045 B.C.

• Known for: Boston — the Boston Tea Party, the American Revolution, the Big Dig, two centuries of American literature, leading educational institutions, top-notch medical research and high tech innovation; Beijing — several millenia of Chinese art and literature, the Boxer rebellion, the Cultural revolution, booming financial and hi-tech manufacturing industries

• Attractions: Boston — The Freedom Trail, Quincy Market and Faneuil Hall, Fenway Park, Swan Boats, the Old North Church, the Museum of Fine Arts, autumn foliage; Beijing — Great Wall of China, Tiananmen Square, the Forbidden City, Ming tombs

• Weather: Boston — hot, rainy, humid summers, cold, snowy winters; Beijing — dry and humid summers, cold and windy winters, dust storms

• Delicacies: Boston — clam chowder, lobster, North End cuisine. Beijing — Peking Duck, noodles, hot and sour soup

• Sports: Boston — Three World Series, three Superbowls, one NBA title and one Stanley cup in the last decade. Beijing — 2008 Summer Olympics, several professional soccer and basketball teams.

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Safety first for Black Friday frenzy

Massachusetts stores will be beefing up security, staggering lines and handing out first-come, first-served tickets for hot Black Friday sale items to avoid the kind of stampede that killed a Wal-Mart employee five years ago in New York.

"The busy shopping season should not put retail workers at risk of being injured or killed," said David Michaels, the nation's assistant secretary of labor for occupational safety and health.

In response to letters the Occupational Safety and Health Administration sent out last week, many retailers plan to follow OSHA guidelines, including having trained security or police on hand, placing barricades away from the front of the store's entrance and not allowing more customers to enter once the store reaches its maximum occupancy.

"We continually look for ways to raise the bar on safety for our customers and our employees; their safety is and always has been our highest priority," said Alyssa Peera, a spokeswoman for Toys "R" Us, whose seven Bay State stores will be opening at 1 a.m. "Each year, we evaluate and strengthen our crowd control policies, procedures and store operations right up to Black Friday."

Senior members of the chain's store management teams, including security, will be monitoring crowds waiting outside to identify potential problems before they happen, Peera said.

The chain has tried to ensure it has enough inventory of the most popular toys, she said, But in cases where the demand exceeds the supply, staff will issue tickets to customers for the product on a first-come, first-served basis.

Wal-Mart, whose 47 Massachusetts stores will open on Friday at 1 a.m., will allow customers to line up to get wristbands reserving the item they want, then leave the line to do the rest of their shopping and pick up the item within a two-four period before they leave the store, said Alex Serra, a Wal-Mart spokeswoman.

Best Buy, which will be opening at 1 a.m., also will be giving out tickets reserving items for people in line, as well as distributing store maps so that people will know in advance where to find them, said John Garrasi, who manages the chain's Watertown store.

Wrentham police will have as many as 46 officers working "midnight madness" at Wrentham Village Premium Outlets and a dedicated frequency they'll be able to communicate over, Chief James Anderson said.

There also will be message boards posted on Interstate 495 and Route 1A, telling motorists how much of a wait they can expect to reach the mall.

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Casino gambles on Revere

Mohegan Sun and its New York-based investor would be the sole owners of a $1 billion Revere casino — not Suffolk Downs — under a new eleventh-hour agreement finalized just days before the two sides could learn whether they're legally free to build a gaming palace just over the East Boston line.

The deal, announced yesterday after a week of whirlwind negotiations, could breathe new life into two battered gaming partners, whose prospects appeared dead just weeks ago after voters in Palmer spiked a Mohegan Sun proposal and Eastie voters shot down Suffolk Downs' pitch.

But in a major shift from Suffolk Downs' last gaming agreement, the struggling racetrack would lease 42 of its 52 acres of land in Revere to Mohegan Sun and $15 billion-backer Brigade Capital Management, which together would own the casino.

Caesars Entertainment, the track's first partner, bounced amid questions over debt and purported mob ties, would have held just a 4.2 percent stake in the original proposal as the developer and operator.

Mohegan Sun has already passed its Gaming Commission background check.

"It's more akin to our agreement with Palmer," said Mitchell Etess, CEO of the Mohegan Tribal Gaming Authority, referring to the 99-year lease Mohegan Sun had signed to build in the western Massachusetts town, though he declined to detail the Revere terms.

"I think in this case, given the extremely short time frame we needed to get this done, this probably was more executable if our existing arrangements with Brigade and the structure were maintained," Etess said. But he disputed the notion that Suffolk Downs would be simply a "landlord."

"We're really partnering with them," he said.

A Suffolk Downs spokesman declined to comment, referring comment on the deal's structure to Mohegan Sun.

It remains uncertain whether the new partners will be allowed to compete with Wynn Resorts and Everett for the eastern region casino license.

The Gaming Commission is due to meet Tuesday, when its legal team will brief members on whether Suffolk Downs can legally operate a Revere-only casino without another referendum vote. When Revere voters approved a casino on Nov. 5, it was part of the city-line-crossing plan that East Boston rejected.

Celeste Myers of No Eastie Casino, an East Boston-based group that is considering suing to stop the Revere-only deal, immediately blasted Mohegan Sun for "shopping wherever they can."

Mohegan Sun, Myers noted, has faced layoffs of more than 300 workers last year, the refinancing of $715 million in debt and a two-thirds plunge in its fourth-quarter profits just this month.

"They have had all kinds of financial issues," she said. "And now they're joining in the last-ditch cash grab in the commonwealth."

But Etess countered that Mohegan Sun's refinancing will save $16 million in interest costs a year. He touted Brigade's backing "as the strongest platform of any participant in the entire process."

Revere Mayor Dan Rizzo said, "I think it would be unrealistic to think because Mohegan Sun fell on some hard times, that should be indicative of any casino never being built (by them) again."

And Rizzo added, "We can definitely use the jobs."

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Technology reveals what kind of shopper you are

WASHINGTON — Advances in technology have never made finding deals this holiday season so easy — or so creepy.

Marketers and mobile app developers have developed creative new ways to help shoppers find what they want for less. But these inventive techniques also allow for more aggressive tracking of consumer behavior, whether buyers are on their work computer, a mobile device or standing in the grocery aisle. It also now includes the ability to connect that data together and with other personal information like income, zip code and when a person's car insurance expires.

The goal is to monitor consumers online and off to determine exactly what kind of buyer they might be and how much they're willing to pay. Retailers say these techniques help customize shopping experiences and can lead to good deals for shoppers. Consumer advocates say aggressive tracking and profiling also opens the door to price discrimination, where companies might charge someone more online or deny them entirely based on their home price or how often they visit a site.

"You can't have Christmas any more without big data and marketers," said Jeff Chester, executive director at the Center for Digital Democracy. "You know that song where Santa knows when you've been sleeping? He knows when you're awake? Believe me, that's where he's getting his information from."

Consumer tracking has long been a part of American consumerism. Retailers push shoppers to sign up for loyalty cards, register purchased items for warranty programs and note zip codes to feed their mailing lists. Online stores and advertising services employ browser "cookies," the tiny bits of software code that can track a person's movements across the Internet, to analyze shoppers and present them with relevant pop-up ads.

More recently, marketers have developed increasingly sophisticated ways to combine offline and online data that creates detailed profiles of shoppers. They also are perfecting location-tracking technology as a means of attracting new customers and influencing shoppers as they wander through brick-and-mortar stores.

A major push encourages shoppers to agree to be tracked in exchange for a good deal. Brick-and-mortar stores used to balk at customers who used smartphones to compare prices at rival stores, but retailers like Target are now pushing their own mobile apps and offering in-store Wi-Fi. The mobile apps entice shoppers with coupon deals or ads as they move throughout a store, while in-store Wi-Fi is another way to track a consumer's online movements.

To further lure buyers, major holiday retailers including, Macy's, Best Buy and JCPenney, have partnered with the Shopkick mobile app. If shoppers turn on the app while in their store, they can be rewarded with discounts or song downloads for trying on clothes, scanning barcodes and making purchases.

Another app, Snapette, blends American's addiction to social media sites with location technology. Aimed at women keen on fashion, consumers can see what accessories or shoes are creating a buzz in their particular neighborhood, while stores get a chance to entice nearby shoppers with ads or coupons.

Not all new technology tracking is voluntary. Stores have been experimenting with heat sensors and monitoring cellphone signals in their stores to monitor which aisles attract the most attention. One product called "Shopperception" uses the same motion-detection technology in the Xbox Connect to pick up a customer's movement, including whether they picked up a product only to return it to the shelf. In addition to analyzing customer behavior, it can trigger nearby digital signs offering coupons and steering shoppers to certain products.

The company contends that the technology is less intrusive than other tracking devices, including security cameras, because a person's image is never stored and their movements only registered as a data point.

Marketers also are learning to overcome limitations with software cookies. One tech startup called Drawbridge claims to have found a way to link a person's laptop and mobile device by analyzing their movements online, enabling advertisers to reach the same consumer whether they're on their work computer or smartphone.

But how all that information is used and where it ends up is still unclear. The Federal Trade Commission, along with several lawmakers, has been investigating the "data broker" industry, companies that collect and sell information on individuals by pooling online habits with other information like court records, property taxes, even income. The Government Accountability Office concluded in November that existing laws have fallen behind the pace of technological advancements in the industry, which enables companies to aggregate large amounts of data without a person's knowledge or ability to correct errors.

"There are lots of potential uses of information that are not revealed to consumers," said Susan Grant, director of consumer protection at the Consumer Federation of America. To protect themselves, "consumers still need to do quite a bit of shopping to make sure that they get (what) meets their needs the best and is the best price."

___

Follow Anne Flaherty on Twitter: https://twitter.com/AnneKFlaherty

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Israel: EU funds will not reach occupied land

JERUSALEM — Israel will ensure that money it receives under a technology-sharing pact with the European Union will not be spent in the West Bank or east Jerusalem, an Israeli official said Wednesday, acceding to a European funding ban on projects in the occupied territories.

Israel and Europe reached a compromise Tuesday that enabled Israel to sign on to a 70 billion euro ($95 billion) research program known as "Horizon 2020."

Israel had feared that new EU guidelines preventing funding of projects or institutions in the West Bank, east Jerusalem and other territories Israel captured in 1967 would make it ineligible for many of the funds granted in the research program, since most universities and research centers have some activities in those territories.

Israel's Deputy Foreign Minister Zeev Elkin said Israel and the European Union agreed that Israeli institutions that operated in the occupied territories could apply for funding under the program, but that they would need to ensure that any money they receive be spent only inside Israel proper.

"Every Israeli entity will be able to apply. If it receives the money, it will need to find a mechanism, with the Europeans, that will allow the Europeans to achieve their objective: that their money ... will not go beyond the Green Line," Elkin told Israel Radio, referring to Israel's pre-1967 war frontier with the West Bank.

The European Union, along with much of the international community, considers Israeli settlements in the West Bank and east Jerusalem illegal and an obstacle to the establishment of a Palestinian state.

The Palestinians want those territories, along with the Gaza Strip, for their future state. Elkin said the EU compromise also included an Israeli statement objecting to the European position on settlements.

Elkin added that Israel would compensate institutions that are ineligible for the EU funding because they are located in the occupied territories.

The "Horizon 2020" program enables participants to apply for funds for research and collaboration in areas such as climate change, renewable energy and food safety. The EU has budgeted more than 70 billion euros ($95 billion) for the program, which is to run from 2014 to 2020. Officials estimate that Israel could gain more than 300 million euros ($400 million) from the complicated funding system over the seven-year period.

The EU's top diplomat in Israel, Lars Faaborg Andersen, called the compromise excellent news. "It will allow the EU and Israel to continue their mutually beneficial partnership in science and technology," he said in a statement.

Palestinian official Nabil Shaath praised the Europeans for sticking to their opposition to the settlements. "It's time for the Israelis to understand that all the international community is against settlements," he said.

The Israeli daily newspaper Haaretz said that despite the last-minute compromise, the spat with the EU indicated that Israel "is now beginning to pay the price of its deeds in the occupied territories."

"The settlement enterprise has turned Israel into an immoral state whose policies are unacceptable to the world of which it seeks to be part," it said in an editorial.

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UK-based Standard Chartered opens branch in Iraq

BAGHDAD — British bank Standard Chartered PLC says it has opened a branch in Iraq's capital, Baghdad and that it hopes to play a role in the country's economic growth.

A statement said Wednesday that the main aim is to meet the increasing banking needs of its multinational clients in Iraq and to support large government projects. It says a second branch will be opened next month in the self-ruled northern Kurdish region and a third will be opened in 2014 in the oil-rich southern city of Basra.

The move came nearly five months after U.S.-based Citigroup Inc. opened an office in Baghdad.

Iraq has been struggling to attract Western companies outside the oil sector since the U.S.-led invasion. Security worries and political infighting have been the major concerns of foreign firms.

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CVS Caremark to buy Coram for $2.1 billion

NEW YORK — Drugstore chain CVS Caremark Corp. says it has agreed to buy the drug infusion business Coram LLC, a unit of Apria Healthcare Group Inc., for $2.1 billion.

Coram, which is based in Denver, provides customers with medication and nutrition that is administered through a vein. The medication can be delivered to a customer's home, clinic or doctor's office.

CVS expects the deal to close by the end of the first quarter of 2014.

CVS expects Coram to generate revenue of about $1.4 billion in the first year after the deal closes and add earnings of between 3 cents per share and 5 cents per share in 2015.

Apria Healthcare Group Inc., Coram's parent company, is owned by investment firm The Blackstone Group LP.

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Clashes during Tunisia protest over economy

TUNIS, Tunisia — Clashes erupted in one of three Tunisian cities where tens of thousands of people demonstrated Wednesday over their declining economic situation, calling for greater investment in their impoverished regions.

Dozens of protesters attempted to storm government offices in the southern mining town of Gafsa before being driven back by tear gas. They later ransacked the local headquarters of the moderate Islamist Ennahda party that dominates the government, tossing the furniture out the third story windows and setting it alight in the street while crowds cheered.

General strikes were called in the northwestern city of Siliana, Gafsa and in Gabes, which is along the southeastern coast, calling for greater government investment. Witnesses reported that all shops and cafes were closed.

Tunisia kicked off the Arab Spring by overthrowing its dictator in 2011, partly over the lack of jobs of young people, especially in the impoverished interior. Nearly three years after the revolution, however, the elected Islamist-led government has been unable to jump-start the economy or redress the historic inequalities between the wealthier coast and the poorer interior.

"We live in desperate conditions because of unemployment, poverty and misery and we are only asking to live in dignity," said Badreddine Hamlaoui, a 19 year-old who lost an eye to birdshot during protests in Siliana exactly one year ago. "I ask myself why Siliana is neglected and excluded from development."

The timing of Wednesday's strikes was to mark the one-year anniversary of the Siliana protests when people marched to call for a new provincial governor and were dispersed by police wielding shotguns. At least 332 people were wounded, many partially blinded by the birdshot.

According to the National Institute of Statistics, unemployment is already a high 15.7 percent in the country, but in places like Siliana or Sidi Bouzid, where the revolution first began when a young fruit vendor set himself on fire, it rises to 20-29 percent — double that for young people.

"We continue to be forgotten and marginalized because of the policies of the current government," said Mohammed Miraoui, head of the local labor union branch in Gafsa. "From one day to another, the economic and social situation is deteriorating with not a single project from the 2012 budget even implemented."

Since its election in October 2011, Ennahda has ruled with two smaller secular parties, but amid the unrest, unmet expectations and terror attacks following the revolution, has been unable to stem the economy's slide.

On Monday, the Moody's international rating service downgraded Tunisia's government-issued bond rating another notch to Ba3, now three levels below investment grade.

The downgrade follows that of Fitch on Oct. 30 and S&P's in August, both well below investment grade, making it even more difficult for Tunisia to borrow on international markets and further reducing international confidence in the North African nation's economy.

Since the revolution, international ratings agencies have been steadily dropping the country's investment grade in light of the unrest and now a political deadlock.

The demonstrations come after the government acceded to opposition demands to step down in favor of a Cabinet of technocrats before new elections, but talks have now broken down over who will be the caretaker prime minister.

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Greek economy seen shrinking further next year

ATHENS, Greece — A leading international economic body is predicting that Greece's economy will shrink further next year and that the government might need more financial help.

In a survey published Wednesday, the Organization for Economic Cooperation and Development said the Greek economy would contract 0.4 percent in 2014, in contrast to the Greek government's forecast for 0.6 percent growth.

The leading international economic think-tank said "positive growth is projected only in the course of 2014, reflecting a slower decline of domestic demand and a pickup in exports."

Greece's economy is contracting for a sixth consecutive year, and the government has been relying on rescue loans from the International Monetary Fund and other European countries since May 2010.

The government has insisted the country will return to growth in 2014, and will post a modest primary surplus — the budget balance without taking into account outstanding interest payments.

"The 2014 budget is the budget of the Greek economy's recovery after six years of recession," Finance Minister Yannis Stournaras said during a speech to Parliament's finance committee Wednesday.

The billions of euros of rescue loans have been contingent on Greece implementing broad structural and fiscal reforms. Successive governments have imposed repeated rounds of austerity measures, including slashing pensions and salaries, and increasing taxes.

While improving certain aspects of the economy, such as the reduction in Greece's annual budget deficit, the reforms have contributed to a sharp drop in living standards and spiraling unemployment, particularly among the young, where the jobless rate is over 60 percent.

"The depression has been much deeper than expected, which has undermined debt sustainability, induced a dramatic rise in unemployment, which affected more than 27 percent of the labor force at mid-2013 and raised social tensions, especially in the first years of the program," the OECD said in its economic survey for Greece.

It said growth was hampered by weak domestic and global demand and difficulty accessing credit.

"Together with the additional adjustment needed on the fiscal side and price competitiveness, the need for further assistance to achieve fiscal sustainability cannot be excluded," the report said.

There was praise, however, for how far Greece has come, with the organization saying the country achieved "a record fiscal consolidation by OECD standards" that managed to reduce the country's massive deficit.

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Ford to recall Escapes again for oil, fuel leaks

DETROIT — Ford is recalling the Escape small SUV again, this time to fix oil and fuel leaks that could cause engine fires.

The hot-selling SUV has been recalled seven times since it was redesigned and went on sale in the spring of 2012.

The first of two recalls announced Tuesday affects more than 161,000 Escapes worldwide from the 2013 model year with 1.6-liter four-cylinder engines.

Ford says the cylinder heads can overheat and crack, causing oil leaks.

Of those SUVs, fuel lines on about 12,000 may have been installed incorrectly. They could become chafed and leak gas. Many were repaired under a previous recall.

Ford says the oil leaks caused 13 fires but no injuries. There haven't been any fires from the fuel line problems.

In documents filed with the National Highway Traffic Safety Administration, Ford said it began to get engine fire reports on Escapes in late August, and began investigating. Eventually it was able to duplicate the cylinder head cracking and decided to do a recall. During the investigation, Ford also found warranty claims of fuel line leaks and decided to repair them as well.

In some cases, the fuel lines may have been installed incorrectly by technicians in a previous fuel line recall, the documents said.

Auto safety advocates say the high number of recalls is out of the ordinary for a new model and a sign of quality problems.

But Ford spokeswoman Kelli Felker disagreed. "We're committed to providing our customers with top-quality vehicles and are equally committed to addressing potential issues and responding quickly for our customers," she said.

The redesigned Escape has been recalled seven times since July of 2012 to fix carpet padding that can interfere with the brake pedals, fuel lines that can crack, coolant leaks, and child safety locks.

Dealers will fix cooling and control systems or inspect and replace fuel lines for free. The recalls start in January.

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Barnes & Noble swings to 2Q profit

NEW YORK — Barnes & Noble returned to a profit in the fiscal second quarter as it invested less in its Nook e-book reader and cost cuts offset lower sales.

Its sales missed expectations, however, and its shares dropped more than 3 percent in premarket trading. The report comes as the crucial holiday season kicks off, when retailers can make up to 40 percent of their annual revenue.

"Our booksellers are prepared to welcome holiday shoppers and recommend thoughtful gift ideas for everyone on their list," said Michael P. Huseby, president of Barnes & Noble and CEO of Nook Media.

The company has spent heavily on building up its Nook e-book reader and digital library, but it has scaled back amid tough competition from Amazon's Kindle and the Apple iPad. It has been reviewing its strategy since CEO William Lynch departed in June and the company did not name a replacement. It introduced a new non-tablet e-book reader, a $119 Nook GlowLight, for the holidays.

Net income for the three months ended Oct. 26 totaled $13.2 million, or 15 cents per share. That compares with a loss of $501,000, or 7 cents per share, last year.

Revenue fell 8 percent to $1.73 billion from $1.88 billion last year. Analysts expected a loss of 3 cents per share on revenue of $1.76 billion, according to FactSet.

Revenue fell across all segments. Retail revenue fell nearly 8 percent to $921 million. College bookstore revenue fell 4.6 percent to $737.5 million and Nook revenue dropped 32 percent to $108.7 million.

Shares fell 58 cents, or 3.5 percent, to $15.85 in premarket trading 15 minutes before that market opened. The stock is up 9 percent since the beginning of the year.

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US home permits rise at 5-year high on apartments

WASHINGTON — U.S. developers received approval in October to build apartments at the fastest pace in five years, a trend that could boost economic growth in the final three months of the year.

Permits to build houses and apartments were approved at a seasonally adjusted annual rate of 1.034 million, the Commerce Department said Tuesday. That's 6.2 percent higher than the September rate of 974,000 and the fastest since June 2008, just before the peak of the financial crisis.

Nearly all of the increase was for multi-family homes, a part of residential construction that reflects rentals and can be volatile from month to month. Those permits rose 15.3 percent to a rate of 414,000, also the fastest since June 2008. Plans for construction in the U.S. south drove much of the increase.

Permits for single-family houses, which make up roughly two-thirds of the market, rose 0.8 percent to a rate of 620,000. That's still slightly below the August pace of 627,000. And it suggests that higher prices and borrowing costs are weakening buyer demand.

Data on homes started in October and September were not included in Tuesday's report. Those figures have been delayed because of the government shutdown and will be released on Dec. 18 with the November home construction report.

The increase in permits suggests those figures will rise. And it indicates that "housing construction will make a much bigger contribution" to economic growth in the final quarter of the year, said Ian Shepherdson, chief economist at Pantheon Macroeconomics.

But the sales of single-family homes could soon slow in the coming months, if developers don't see greater demand soon, Shepherdson said.

"The flat trend in single-family is ominous," he said in a client note.

Construction of apartments has increased in the aftermath of the Great Recession, as the rate of homeownership has fallen from its 2006 peak of 69 percent to 64 percent. Lingering unemployment and stagnant incomes for millions of Americans have increased demand for rentals, which are at their lowest vacancy rates since early 2001.

Builders are also benefiting from a low supply of homes for sale, which has increased prices for sellers.

The rise in permits also suggests builders mostly shrugged off the partial government shutdown, which lasted from Oct. 1 through Oct. 16. The shutdown was blamed for delaying the release of the October and September housing data. And it continued to effect the government's reporting on homes started for those months.

Most economists expect the housing recovery will withstand an increase in borrowing costs. But the higher costs have slowed home sales in recent months.

Fixed mortgage rates have risen almost a full percentage point since late May, when borrowing costs were near record lows. Last week, the average on the 30-year loan was 4.22 percent, according to mortgage buyer Freddie Mac.

Mortgage rates are still low by historical standards. And steady job gains have made it possible for more Americans to buy homes.

Homebuilder confidence tailed off slightly after the government closed in October, according to a survey by the National Association of Home Builders. Their optimism flagged slightly out of concern that the shutdown and possibility another fiscal crisis at the start of next year will keep potential homebuyers on the sideline.

Though new homes represent only a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to NAHB statistics.

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NHL, Rogers reach $5.2 billion Canadian TV deal

TORONTO — The NHL says it has reached a 12-year, $5.2 billion agreement with Rogers Communications for the league's Canadian broadcast and multimedia rights.

Rogers said Tuesday that the CBC will keep airing "Hockey Night in Canada," and the TVA network in Quebec has all of the Canadian French-language multi-media rights.

The league says the deal gives Rogers national rights to all NHL games, including the playoffs and Stanley Cup Final, on all of its platforms in all languages.

The deal, subject to approval by the NHL Board of Governors, will begin with the 2014-15 season and run through 2025-26. The Board of Governors will next meet Dec. 9-10 in Pebble Beach, Calif.

The league says in a statement that the agreement is the largest media rights deal in its history.

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US home prices rose at slower pace in September

WASHINGTON — U.S. home prices rose more slowly in September than in August, a sign that weaker sales are preventing the kinds of sharp price gains that occurred earlier this year.

The Standard & Poor's/Case-Shiller 20-city home price index rose 0.7 percent from August to September, down from a 1.3 percent gain from July to August. That figure isn't adjusted for seasonal variations, so the change reflects, in part, slower buying in late summer and fall.

Still, other recent reports show that previous gains in home prices, higher mortgage rates and the partial government shutdown last month have weighed on the housing market. Home resales and signed contracts to buy homes both fell in October.

"Other data suggest a market beginning to shift to slower growth rather than one about to accelerate," said David Blitzer, chairman of the S&P Dow Jones index committee.

The Case-Shiller index covers roughly half of U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The September figures are the latest available.

Monthly price gains slowed in 19 of the 20 cities tracked by Case-Shiller index. Prices rose 1.3 percent in Las Vegas compared with a 2.9 percent month-to-month gain in August. Home prices rose just 0.2 percent in Tampa, Fla., after a 1.8 percent gain in August.

Charlotte, N.C., was the only city where prices declined from August to September.

Year-over-year, prices jumped 13.3 percent from September 2012, the fastest such gain since February 2006. Those gains may be putting some homes out of reach for many buyers. Mortgage rates have also risen since the spring, though they remain low by historical standards.

And the government shutdown delayed some sales in October because the IRS was unable to verify incomes, a critical part of the mortgage-approval process.

Home resales fell in October for a second straight month to a seasonally adjusted annual pace of 5.12 million, the lowest since June. That pace is still 6 percent higher than it was a year earlier. But it's below the roughly 5.5 million annual sales pace typical of a healthy market.

In addition, a measure of signed contracts to buy homes fell for a fifth straight month in October. That suggests that final sales will remain weak in coming months.

In October, signed contracts plunged in the West, where price gains have been the strongest. The Case-Shiller index showed that prices jumped more than 29 percent in Las Vegas compared with a year ago and nearly 26 percent in San Francisco.

Many economists argue that the Case-Shiller figures overstate recent price gains because the figures include foreclosed homes. Foreclosed homes usually sell for low prices, and as the proportion of foreclosed sales declines, that can push up price gains.

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Fiat says no Chrysler IPO in 2013

FLORENCE, Italy — Chrysler won't be offering its stock for sale on the public markets this year.

Italian automaker Fiat SpA, Chrysler's majority owner, said in a statement Monday that Chrysler's board has determined an initial public offering is "not practicable" in 2013.

Instead, Chrysler Group LLC will continue work on the offering so it can happen in the first quarter of next year, the statement said.

Fiat owns 58.5 percent of Chrysler's shares, with the remaining 41.5 percent held by a United Auto Workers union trust fund that pays health care bills for blue-collar retirees.

But Sergio Marchionne, CEO of both automakers, has been squabbling with the trust over the price, and so far they haven't been able to reach agreement. Marchionne wants to buy the trust's shares in order to combine the companies.

The IPO would consist of shares currently held by the trust. Last month, UBS AG set the value of the trust's stake at $5.6 billion. Fiat has gone to court seeking a judgment on the price, but the trial date is set for next September.

The pricing process for the IPO might be the stimulus needed for the two sides to reach agreement and avoid the public sale. "I'm not selling anything and nor do I think we need to do so," Marchionne said in October.

Marchionne can't spend Chrysler's cash on Fiat's operations unless the companies merge. He has made it clear that he would prefer to settle the dispute without an IPO, but filed the paperwork for the offering in September at the trust's request.

But Chrysler's profits have been propping up Fiat on the balance sheet all year as the Italian automaker struggles in a down European market.

The Auburn Hills, Mich., automaker earned $464 million last quarter on U.S. sales of the Ram pickup and Jeep Grand Cherokee, its ninth-straight profitable quarter. The results boosted Fiat, which earned $260 million in the third quarter. Without Chrysler's contribution, Fiat would have lost $340 million.

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China to invest in Romanian nuclear, wind power

BUCHAREST, Romania — China's prime minister says his country will invest in Romanian nuclear and wind energy production as well as a high-speed railway.

Li Keqiang arrived in Romania Monday a day ahead of a summit with leaders from Central and East European countries.

On the occasion of the visit, Romanian and Chinese officials signed various deals to cooperate in nuclear and thermoelectric energy projects and to resume beef and pork exports. No values for the deals were disclosed.

Romanian exports to China have tripled since 2008 and bilateral commerce this year amounted to $3.27 billion, according to Chinese authorities.

It was the first visit by a Chinese prime minister to Romania in 19 years. Li said the visit "consolidates reciprocal political trust."

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Regulators in China investigating Qualcomm

SAN DIEGO — Qualcomm is being investigated by Chinese regulators for possible violations of the country's anti-monopoly law.

The company said Monday that details of the investigation by the National Development and Reform Commission are confidential.

The San Diego mobile chip maker said that it's not aware of any charge by the commission that Qualcomm has violated the anti-monopoly law. It said it will continue to cooperate with the commission as its investigation proceeds.

Shares of Qualcomm Inc. fell $1.51, or 2 percent, to $71.45 in premarket trading.

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World stocks rise on Iran deal, Wall St momentum

LONDON — World stocks rose and oil prices fell Monday after world powers and Iran reached a deal on the country's nuclear program and as Wall Street added to its seven weeks of gains.

Sunday's deal was the first significant progress in years to curtail Iran's nuclear ambitions. It will reduce the risk of conflict, improve trade and could boost crude oil supplies to the global economy.

Iran agreed with the U.S., Britain, France, Russia, China and Germany to limit enrichment of uranium to 5 percent, far below the level needed for nuclear weapons. In return, it got limited relief from sanctions that have hobbled its economy, but an embargo on its oil exports remains in place while negotiations continue for an enduring deal.

"Perhaps the Iran nuclear deal, effectively setting limits to Iran's nuclear program, has added to the buoyant risk mood," said Stan Shamu, market strategist at IG in Melbourne, Australia.

Britain's FTSE 100 stock index rose 0.2 percent to 6,688.66 and Germany's DAX advanced 0.9 percent to 9,302.16. France's CAC-40 added 0.5 percent to 4,300.32.

Wall Street continued to be lifted by the Federal Reserve's super easy monetary policy, signs of gradual improvement in the U.S. economy and rising company profits.

The Standard & Poor's 500 was up almost 0.1 percent to 1,805.16, having closed on Friday above 1,800 for the first time, capping seven straight weeks of gains. The Dow was up 0.1 percent at 16,076.50.

In energy trading, benchmark U.S. crude for January delivery was down 76 cents to $94.08 a barrel in electronic trading on the New York Mercantile Exchange as the nuclear deal made it more likely that the sanctions choking Iranian oil exports will eventually be lifted. The contract fell 60 cents to close $94.84 on Friday.

Earlier, in Asia, Japan's Nikkei 225 stock average jumped 1.5 percent to 15,619.13 and Seoul's Kopsi climbed 0.5 percent to 2,015.98. Australia's S&P/ASX 200 gained 0.3 percent to 5,352.80. Markets in India, Singapore, Indonesia and Taiwan also rose, but Hong Kong's Hang Seng reversed gains to close down slightly at 23,684.45.

Also going against the trend was Thailand, where the SET index fell 0.5 percent as protesters invaded the Ministry of Finance's compound in Bangkok, escalating a campaign to topple the government after weekend protests drew tens of thousands.

The euro fell 0.3 percent to $1.3507 while the dollar rose 0.4 percent to 101.67 yen.

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Portugal strikes, legal action bring fiscal risk

LISBON, Portugal — The Portuguese government's woes are piling up as it battles to comply with austerity measures demanded by its 78 billion-euro ($105 billion) bailout.

Amid a recent spate of strikes by labor groups and street protests against pay and pension cuts, Lisbon ferry workers walked off the job Monday. Also, court sessions were cancelled as magistrates went on strike, while a walkout by border guards caused delays at airports.

Last weekend, President Anibal Cavaco Silva asked the Constitutional Court to rule on the legality of a new law cutting the pensions of government workers. The court has disallowed key debt-reduction measures five times over the past two years.

Inspectors from Portugal's bailout creditors are due in Lisbon next week amid concerns the country may end up needing more financial help.

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Swiss reject plan to cap managers' pay

BERLIN — Swiss voters soundly rejected on Sunday a proposal to limit the pay of companies' highest-paid managers to 12 times that of their lowest-paid workers, a plan that business leaders had warned could weaken the prosperous nation's economy.

A projection by the gfs.bern polling agency based on partial counting showed voters shooting down the plan by a margin of 66 percent to 34. Initiatives need a majority of both voters and cantons (states) to pass in a referendum; by Sunday afternoon, results from 20 of the 26 cantons were in and all had voted against.

Sunday's referendum came after voters in a March vote voiced anger at perceived corporate greed by deciding to boost shareholders' say on executive pay and ban one-off bonuses known as "golden hellos" and "goodbyes."

However, the new "1:12 initiative" from Switzerland's Young Socialists calling for a fixed legal cap on pay appeared to be a step too far for centrist and conservative voters.

Switzerland is home to global business players such as pharmaceutical companies Novartis and Roche; insurance groups Zurich and Swiss Re; and banks UBS and Credit Suisse.

Backers of the "1:12 initiative" argued that imposing a legal limit on salaries would ensure greater fairness while still giving top bosses the chance to earn more money than, for example, government ministers.

But Swiss business leaders argued it would weaken the nation's competitiveness, make it harder to attract top talent and likely prompt some companies to move executives abroad.

Opponents included Sepp Blatter, the Swiss president of world soccer's governing body FIFA, who argued that it would have the side-effect of seriously damaging Swiss soccer.

"Of course we're disappointed," Young Socialist leader David Roth told Swiss television.

"Our opponents succeeded in making people afraid," he said, though he insisted that there was "no future" for an "economic system based on salaries in the millions, on financial speculation."

The head of Switzerland's employers' association said he was greatly relieved.

"This is an important decision for Switzerland as a business location," Valentin Vogt said. "The people have decided clearly that setting salaries in this country is not a matter for the state."

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Longtime Progressive CEO Peter Lewis dies at 80

MAYFIELD VILLAGE, Ohio — Peter Lewis, who shepherded Progressive Corp. from a small-time operation to one of the largest auto insurers in the country and later became the billionaire backer of marijuana legalization, died Saturday. He was 80.

Philanthropic adviser Jennifer Frutchy said Lewis died at his home in Coconut Grove, Fla.

Progressive President and CEO Glenn Renwick said the company owes its growth and its culture of openness to Lewis. He said Lewis' caring and honesty are "bedrock" values of the company.

"The history of Progressive is very much the history that Peter Lewis laid down," Renwick said. A willingness to take risks and constantly learn and grow are principles that can be traced to Lewis, he added.

"He really was a special person, there's no doubt about that," Renwick said.

Lewis became chief executive officer of Progressive in 1965, built from the company his father co-founded in 1937. Lewis held the leadership post for 35 years, during which Progressive — and Lewis' fortune — steadily grew. In 2006, Forbes calculated his net worth at $1.4 billion.

Lewis turned his wealth into support for a number of progressive causes, including strong support for marijuana law reform that began after he used it following a leg amputation. Lewis helped bankroll marijuana-related causes in Ohio, Washington and Massachusetts.

In a 2011 interview with Forbes Magazine, Lewis said he first tried marijuana at age 39. He said he found it to be "better than scotch" and later relied on it for pain management.

"I don't believe that laws against things that people do regularly, like safe and responsible use of marijuana, make any sense," he told Forbes. "Everything that has been done to enforce these laws has had a negative effect, with no results."

Lewis also spent time as a trustee of the Guggenheim Museum and stepped down in 2005, saying he saying disagreed with the institution's focus on international expansion. He had been a leading benefactor of the museum, donating tens of millions of dollars.

For a time Lewis largely stopped giving to local Cleveland-area concerns, saying there was little cooperation among civic leaders or public development. Last year, however, he donated $5 million to the Cleveland Institute of Art, the Plain Dealer reported. At the time, he said he made the donation because a development plan that impressed him in 2004 had met his expectations.

Lewis also gave generously to his alma mater, Princeton University. He donated more than $220 million to the school, where he also served as a trustee.

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Obama, Cyrus among GQ's least influential list

LOS ANGELES — Dennis Rodman is at the top of a list no one wants to be on. He's been named GQ's No. 1 least influential celebrity of 2013.

The 52-year-old former basketball player who has visited Kim Jong Un in North Korea was selected as the top pick in the magazine's third annual list of the least influential celebrities, which also includes twerking pop star Miley Cyrus, President Barack Obama, and celebrity chef Paula Deen. GQ called Rodman a "Q-list celebrity willing to commit borderline treason just to hang out with a dictator who himself aspires to be a Q-list celebrity."

Rodman said this week he's preparing to return to North Korea late next month for an exhibition basketball tour.

Deen, whose cooking empire imploded this year after she admitted to having used the N-word to describe black employees, came in at No. 2 on the list behind Rodman, while former sexting U.S. Rep. Anthony Weiner took the No. 3 spot.

"He's the saddest lecher in American politics, and that's saying something, because they're all lechers," the magazine said.

Cyrus, who garnered attention at this year's MTV Video Music Awards for her provocative performance with a foam finger, won the No. 6 position for "basically trying every inane strategy she could think of to rile up America's few remaining pearl clutchers." The magazine noted "what's sad is that it totally worked."

Obama came in at No. 17 because "nothing gets done."

Other celebrities deemed non-influential include Justin Bieber, Lady Gaga, Ryan Reynolds and Will Smith.

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Westford teen creates prosthetic arm and hand

WESTFORD, Mass. — Shiva Nathan is a 15-year-old boy with one huge, global idea.

Inside his Westford home with his father, Nanda Nathan, at his side, he puts on an electroencephalogram, or EEG, headset reader and concentrates.

The device measures his brain waves, and through a computer program he designed, Shiva controls a prosthetic arm and hand, which he built himself, on the table beside him.

The teenager explains that when he is at total peace, concentrating fully, he has rigged the device so the arm waves. And as a side note, he says that for him, thinking of nothing is the perfect way to calm down and do the trick.

On a mission to help hundreds of thousands of amputees all over the world, Shiva took his passion for robotics to a whole new level last year when he developed this prosthetic that he can control with his mind.

With more design work and tweaks, he can modify the controls so his arm can do even more, including moving its wrist, wiggling its fingers and bending at the elbow.

But to take his creation one step further, Shiva says his goal is to make the technology available everywhere. He's aiming to develop this "Arduino prosthetic" as an entire open-source project, with schematic designs anyone can download off the Internet so they can then make the product themselves with a few electronic parts available at many stores.

"I'm definitely looking to do this ... especially because these prosthetics can retail for hundreds of thousands of dollars, which basically renders them all but out of reach of many residents in Third World countries and even war veterans who just returned home and are working for minimum wage," he says.

"In the U.S. alone, there are 185,000 amputations performed each year," he adds, "so the necessity of this device becomes huge when you think about the implications."

Shiva's project impressed experts so much that he won first place in the 2013 National microMedics contest this past January, in the education category. His father, who works for Nova Write, Inc., developing lasers, says that because his son is under 18, he couldn't receive a cash prize. The contest organizers are rewarding him, instead, with $5,000 worth of electronics equipment.

Nanda Nathan notes how extremely proud he is of his son, a sophomore at Westford Academy, who joined the after-school robotics club last year as a freshman.

But it isn't enough for Shiva simply to devote his project to helping those in need internationally — he wants to help people in his hometown, too.

At a recent meeting of the Board of Selectmen, to which Shiva was invited for achieving the prestigious award, he went before the town on his own to request space for an innovator's workshop. He told selectmen if they were willing to grant some town space for other local creators, he would donate all of his winnings to the site and help others with their inventions there, too.

Selectmen Chairwoman Andrea Peraner-Sweet thanked Shiva for his generous offer and said she thought the town could surely find some space for his endeavor.

Shiva says he has high hopes for his prosthetic arm for the future and that he plans to keep working to fine-tune it. He says his father has been instrumental in helping him develop the piece, which he built in part at the Nova Write machine shop under his father's careful watch.

Shiva believes that while he is one of the "lucky" citizens in Westford with access to great equipment, he hopes the workshop he plans to set up in town leads people to find their greatness, too.

"I'm trying to improve their quality of life, to help them unleash their creativity, by giving them all the resources they need free of charge," he says. "I was lucky enough to have people who care about me supply me with these resources."

-SAMANTHA ALLEN, Lowell Sun

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Meningitis victims hope for Mass. criminal charges

BOSTON — Dirk Thompson III doesn't hold out much hope that he and the 750 other victims in a nationwide meningitis outbreak will ever see much, if any, compensation for the deaths and illnesses caused by tainted steroids.

He hopes to find justice another way if criminal charges are brought against the principals of a Massachusetts compounding pharmacy that made the steroid injections blamed for the fungal meningitis outbreak.

A federal grand jury in Boston has been investigating the New England Compounding Center for more than a year. A separate grand jury in Minnesota also has been conducting an investigation.

"They have to be prosecuted to the fullest extent of the law," said Thompson, 58, of Howell, Mich., who was hospitalized for 38 days with meningitis after receiving a steroid injection for back pain. "They were totally irresponsible."

Since the contaminated steroids were first discovered, 751 people in 20 states have developed fungal meningitis or other infections, including 64 who died. Michigan, Tennessee and Indiana were the hardest-hit states.

Federal prosecutors have declined to comment on the investigation, but the FBI recently asked anyone who received one of the tainted injections to fill out a questionnaire detailing their illnesses and saying whether they believe another medication distributed by NECC caused harm to them or their family.

The FBI, which has also sent agents to visit victims, set a Nov. 30 deadline for victims to submit the surveys online or to mail them to its health care fraud squad in Boston.

It is unclear whether the company or its executives will face criminal charges. Several lawyers who represent victims in lawsuits say health care companies charged with selling contaminated drugs often reach settlements with the federal government and agree to pay large fines. But the New England Compounding case is different because of the large number of deaths and serious illnesses caused by the tainted steroids.

"If there's enough evidence to show that these companies were operating and that the executives were operating in a way that was going to harm and hurt and eventually cause death, then we would presume that there would be some action, other than just a fine," said Boston attorney Kim Dougherty, whose firm represents more than 100 people who became ill or died in the outbreak.

Inspectors found a host of potential contaminants at the company's Framingham plant, including standing water, mold, water droplets and dirty equipment. Fungus was found in more than 50 vials from the pharmacy.

Regulators have also said the company did not perform enough tests before sending the drugs to hospitals and clinics and sent drugs in bulk quantities instead of prescriptions for individual patients.

The company gave up its license and filed for bankruptcy protection after it was flooded with hundreds of lawsuits from victims. A bankruptcy court judge has set a Jan. 15 deadline for victims to file claims.

"I hope that the people involved are held accountable and that they are prosecuted to the full extent of the law," said George Cary, whose wife, Lilian, 67, developed fungal meningitis and died about a month later.

Cary, of Howell, Mich., received steroid shots at the same pain management clinic as his wife. He became ill with meningitis several weeks later and was hospitalized for three months.

"I think the victims all feel ... that none of the laws or regulations seem to have applied to (the people involved), and they've continued on with their lives while the victims have suffered immensely, deaths have occurred, people's whole families have been dramatically changed," Cary said. "This has really been a national disaster."

Attorneys for the company's principals, through a spokesman, declined to comment.

Christina DiIorio-Sterling, a spokesman for U.S. Attorney Carmen Ortiz, would say only that the investigation is continuing.

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