Home Showcase: Roomy Revere condo has a tempting price

With a million dollars becoming the new norm for a larger-sized condo in Boston's hotter neighborhoods, this 2,284-square-foot three-bedroom townhouse off Broadway in the center of Revere is a relative bargain at $389,900.

On a residential street, Unit A at 74 Cummings Ave. is one of two units in a project built in 2007. But while the vinyl-sided townhouse looks pretty conventional from the outside, it features a large, two-story open living/dining space with vaulted ceilings and skylights.

The living/dining space is a half-flight up a split-
level staircase that also leads down to a carpeted basement family room.

But it's the large open living/dining space that is the home's centerpiece, with oak floors, a three-part bay window, recessed lighting and fans between the skylights and a stainless steel gas fireplace built into one wall.

Adjacent to this area is a kitchen with cherrywood cabinets and light-colored granite countertops with bullnose edges that also cover a bi-level island/breakfast bar. There's stainless-steel GE appliances and a Marvel wine cooler.

There are two bedrooms on the first floor off a hallway that has a ceramic-tiled bathroom with a Corian-topped vanity and a one-piece 
Fiberglas shower, and a storage closet with a stacked washer and dryer. The larger oak-floored bedroom has lots of closet space and an en-suite ceramic tile bathroom with a Corian-topped vanity and a soaking tub/shower.

At the end of the hall is a door to a rear Trex-decked porch, which has stairs down to a small fenced-in backyard.

The second floor is entirely devoted to a large master bedroom suite with oak floors, recessed lighting and four closets. The en-suite master bathroom features black-and-white tile floors, a tiled walk-in shower and a dark Corian countertop over a cherrywood vanity.

There's a carpeted family room plus lots more storage space on the lower level. The unit has a gas-fired heating and central air-conditioning system.

The unit has its own driveway, which can hold up to three vehicles.

There's no monthly condo fee, and the only thing shared between the two units is an insurance policy, costing Unit A about $900 a year.

Home Showcase

• Address: 74 Cummings Ave., Unit A, Revere
• Bedrooms: Three
• Bathrooms: Three full
• List price: $389,900
• Square feet: 2,284
• Price per square foot: $171
• Annual taxes: $4,982
• Built in: 2007
• Location: Quarter-mile from retail, restaurants and services along Broadway, Revere's main 
retail district
• Broker: Paul Campano of Keller Williams Realty 
at 617-304-3686

Pros:

• Large, two-story open living dining area with vaulted ceilings, skylights
• Full bedroom suite on first floor and large master on second floor
• Cherrywood and granite kitchen with bi-level island
• Lots of closet storage space

Cons:

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The Ticker

Gaming panel to consider holding off casino licenses

State gambling regulators agreed yesterday to hear arguments next week and possibly rule on Boston Mayor Martin J. Walsh's request to suspend the eastern region casino license process until after the November election.

The state Gaming Commission said it will hold a public hearing on the request at Bunker Hill Community College in Charlestown on July 2. Representatives from Boston, Revere, Everett, Mohegan Sun and Wynn Resorts have been invited to present their arguments.

Wynn proposes a $1.6 billion casino in Everett. Mohegan Sun proposes a $1.3 billion casino on the Suffolk Downs horse racing track in Revere. The two gambling companies are competing for the lone casino license for the Boston-area.

Walsh has said he doesn't want to continue spending taxpayer dollars on negotiations with the companies until the fate of the state's 2011 casino law, which opened the door for Las Vegas-style gambling in the Bay State, is determined.

The state's highest court this week allowed a referendum to repeal the casino law to be placed on the November ballot.

38 Studios' law firm settles suit with R.I.

A law firm sued by Rhode Island's economic development agency over the state's failed $75 million deal with former Boston Red Sox pitcher Curt Schilling's video game company has agreed to settle for $4.4 million.

If approved by a judge, it would be the first settlement in the lawsuit, which also names Schilling and other executives of his company, 38 Studios, two former agency employees, investment banks and others.

The settlement agreement between the agency formerly known as the Economic Development Corp. and lawyer Antonio Afonso and his firm Moses Afonso Ryan was filed yesterday. Court spokesman Craig Berke said the judge will have a hearing on it July 7.

38 Studios moved to the state from Massachusetts in 2010 with the promise of a $75 million loan guarantee. It declared bankruptcy in 2012, leaving the state on the hook for as much as $100 million.

Avalon Danvers apartments sold

The DSF Group, a Waltham-based real estate investment and development firm announced that it acquired the 443-unit Avalon Danvers apartment complex in Danvers for $108.5 million. The deal represents the largest multifamily transaction in the greater Boston market this year. A major renovation will include construction of a new state-of-the-art health and fitness center, a yoga studio, virtual golf and boxing studio, movie theater and resident lounge. The property will be renamed Halstead Danvers.

Julie Kahn to head Regan Marketing

Entercom Group's former market manager, Julie Kahn, will lead a new division of Regan Communications specializing in marketing and media.

The new agency will handle everything from brand strategy and positioning to advertising, media planning and placement. "Over the past several years, we have expanded our footprint throughout the East Coast with the addition of Alchemy, Pierce-Cote Advertising and Quinn & Hary," said George K. Regan Jr. president of the communications group.

"When Julie joined the company, it was an easy decision to create this division with her at the helm." Regan said.

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Senate probes GM supplier; new recall underway

The U.S. Senate is expanding its probe of General Motors' decade-long failure to recall vehicles with faulty ignition switches to include the part's supplier, as GM recalls even more cars for a different defect.

The Senate Commerce Committee is expected to question Delphi at an upcoming hearing about the ignition switches, which have been linked to crashes resulting in at least 13 deaths and prompting the recall of 2.6 million Saturn Ions, Chevrolet Cobalts and other small cars.

"It certainly needs to be done," Clarence Ditlow, executive director of the Center for Auto Safety, said of the hearing into Delphi's role. "We haven't seen the end of this yet."

GM recalled about 29,000 2013 and 2014 Chevrolet Cruzes on Thursday because an incorrect part in their air bags could cause the metal casing of the inflator to shatter, sending metal shards into the passenger area.

"It's unfortunate timing for GM," said Jeremy Acevedo, an analyst at the automotive website Edmunds.com. "In the scheme of things, this (defect) is minor, but it does have the capacity to get shoppers' attention, which is never good for an automaker."

Robert C. Hilliard, a Corpus Christi, Texas, attorney who represents the families of 80 people who were killed and 300 people who were "catastrophically injured" allegedly as a result of the ignition switch defect that led to the earlier recall, said it's "almost reassuring" that GM has continued to recall vehicles as problems arise. But he said there is a danger that consumers may stop paying attention.

"Psychologically, it's like battle fatigue," Hilliard said. "You stop appreciating that the guy in the foxhole next to you just got his head blown off because you've seen it so many times before."

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Hub’s hot for solar benches

In search of that perfect spot to read, but worried a noisy field trip might ruin it? With a new crop of smart benches in the city, residents looking for a place to sit and relax can see noise level, weather conditions and more on the Internet before stepping outside.

"You want to know if you want to go to the Esplanade or the Greenway or the Boston Common to find a bench that is sunny, is quiet," said Sandra Richter, co-founder and CEO of Changing Environments, which is installing the benches in partnership with the mayor's office.

The benches have two charging ports for cellphones, but no cables. Richter said attached cables are often vandalized, and the company has found enough people travel with chargers.

"Your cell phone doesn't just make phone calls, why should our benches just be seats?" said Mayor Martin J. Walsh in a statement.
 "We are fortunate to have talented entrepreneurs and makers in Boston thinking creatively about sustainability and the next generation of amenities for our residents."

The benches send weather information, noise level data and whether the solar-powered charging ports are being used, all of which can be viewed online.

Changing Environments originated in the MIT Media Lab, and worked with the city's Office of New Urban Mechanics to pilot one of its benches last year.

Information from the benches can be seen at soofa.co.

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Car Smart: New Golf’s got drive

If you are looking for a 
fuel-sipping car that handles like a race car, go Golfing, that is, take the 2015 Volkswagen Golf TDI S for a drive.

With barely enough room for golf clubs in the rear hatch, the model name's irony is easily forgotten thanks to its 2.0-liter turbo direct-injection engine and a rocket-like driving experience. There's enough punch out of the hole to chirp the tires on the sporty 16-inch wheels in both first and second gears.

Gone is the misconception that diesel power is an oxymoron.

Paddle shifters mounted to a flat-bottomed, tightly tuned steering wheel keep you interested in taking a spin for even the most mundane errands. Whether it is putting across town or across the region, this compact car is a joy to drive. The Golf suspension handles flawlessly on the highway, even one riddled with potholes.

There's no performance sacrifice for its 40 miles per gallon (or better) fuel economy. It should be noted that not every gas station carries diesel and you should use your extra mileage to plan out your next fuel stop.

The Golf features a very quiet cabin with excellent ergonomics. Everything is where it should be. Controls for the Bluetooth phone and stereo are on the dash and on the steering wheel. The view from the driver's seat provides the driver with very good lines of sight.

Access to the Golf's hatchback takes a while to decipher. With some exploration, you realize that the VW emblem on the hatch doubles as the latch. Like a secret passage, the hatch door opens when you push in the top to reveal a handle on its lower portion.

The TDI S has leatherette seats that are nice and easy to clean, but may get a bit hot once summer really settles in. The seats feel roomy and comfortable for such a small car.

As equipped, the TDI S has a decent sound system for its price. It simply gets the job done with eight speakers, built-in satellite radio, USB and a memory card slot. A dedicated jack for your favorite smartphone or mp3 player requires a proprietary cable and the one provided for the test vehicle didn't match the driver's device.

Missing is a sunroof and built-in GPS, which, if made available as options when it hits the market in July, would be worth considering.

With an overall length of 13 feet, 9.4 inches, parking is a breeze. There's even parking assistance indicators on the audio screen to help you keep the bumpers scratch-free.

Among the many great safety features of this vehicle is the indicator to show that you are indeed tailgating. That's a good feature given the Golf's propensity for speed.

2015 VW Golf TDI S

• MSRP: $22,815
• As Tested: $23,915
• MPG: 31 city, 
42 highway

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The Kensington using perks to full effect

When you're 90 percent rented, what's the best way to reach the fully leased finish line?

For The Kensington, a 27-story, 381-unit downtown luxury tower that's had a successful first year, it's generating some new ideas to attract tenants to its 26 penthouses on the top two floors.

Many buildings are offering concessions such as a month or so of free rent and reduced fees, but the Kensington is taking a different approach, as it competes with top-floor apartments at the nearby Radian, The Arlington in Park Square and the nearly completed Avalon Exeter at the Pru.

"There's lots of high-end penthouse apartments on the market, so we asked how could we differentiate ourselves other than by price," said Keri Walker, regional vice president of Bozzuto Management Co., which leases and manages the property. "We decided that adding free services was the best way to make tenants' lives easier and offers the best overall rental value."

If you sign a one- or two-year Kensington penthouse lease, you get a choice of a free Sports Club LA membership, free weekly housecleaning or free dog walking five days a week. There's a complimentary storage unit, as well as a premier space in the parking garage at the regular $425-a-month rate. Also, package and dry-cleaning delivery services are free to these floors.

Step off the access-controlled elevator on the top two floors and there are tables with bottled waters, Lindt chocolates and fresh flowers. Scented air is piped through hallways with stylish wall coverings and original art. Inside the penthouses are upgraded French door refrigerators, and California Closet built-ins are included in all bedroom closets.

And not all the penthouse units at the Kensington are super-expensive. A smaller 26th-floor one-bedroom with 553 square feet starts at $4,135 that includes all the extras. But if you want a spacious unit, be prepared to pay. A 27th-floor, 1,558-square-foot two-bedroom is renting for $8,825.

The penthouse units are nicely outfitted with stylish cabinets and quartz countertops, laminated oak floors and higher ceilings than apartments on lower floors.

"What's made the Kensington successful is that it has the best amenities package of any other luxury downtown building," said Kensington general manager Fred Colberg. "So our focus on adding more services makes sense for us."

The Kensington is one of the few downtown luxury buildings with a large outdoor pool and roof deck, and almost its entire sixth floor is a series of clubroom, conference, kitchen and billiards spaces, along with a 3,000-square-foot fitness facility.

"One reason why the building has done well is that there are no extra charges for any of the building's amenities," added Jason Gomes, The Kensington's assistant general manager.

Walker, whose company also manages The Victor and Waterside Place in Boston, says the Kensington's approach to penthouse-level service wouldn't work at all buildings. Kensington has been renting units from the bottom floors up and was able to save the choicest units, and views, for last.

The view from Penthouse 27G, a 1,073-square-foot, two-bedroom renting for $8,125, rivals the best in the city with the Boston Common and Public Garden serving as a front lawn and the entire Back Bay and Charles River beyond.

"The views from these penthouses are spectacular and beat those of our competitors," Walker said. "To be successful at this level, you need create a memorable experience for tenants from the front door to the top floor."

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Marty Walsh to panel: Delay casino OK

A casino mitigation deal that appeared close to being inked between Boston and Mohegan Sun is now up in the air after Mayor Martin J. Walsh's surprise call for the state Gaming Commission to delay its decision on the Boston-area license until after November's casino repeal referendum.

Walsh said yesterday the Supreme Judicial Court's Tuesday decision to allow a repeal question on the ballot "changed everything."

"We're spending money, the taxpayers' dollars, on lawyers and legal fees to work on these agreements," Walsh said. "At the end of the day, if the voters vote it down, we wasted taxpayers' dollars on having a negotiation that should have been put off until after November."

Walsh — who faces commission-imposed arbitration deadlines this week and has been negotiating for months with Mohegan and competitor Wynn Resorts — has already requested several delays. His latest was delivered via email shortly after 3 p.m. yesterday, while the commission was in formal session.

The commission, which wants to issue a Boston-area license decision by September, said it will review the request and noted it retains "the ability to deal with the contingences of the licensing process in a manner that serves the best interest of the public."

Walsh's announcement blindsided many, including Suffolk Downs, where Mohegan is planning its casino on property in Revere. In a statement, Suffolk Downs chairman Bill Mulrow directly criticized Walsh.

"On behalf of the family of workers at Suffolk Downs, we are dismayed by the approach the mayor has chosen here in dealing with our tenant, Mohegan Sun Massachusetts, and its proposal to create jobs — many of which would undoubtedly go to Boston residents," Mulrow said.

Revere Mayor Dan Rizzo told the Herald he'd heard Boston and Mohegan "were pretty much in-sync and, but for a few details, primarily legalese, that they had conceptually been on the same page." Rizzo noted other licenses have been awarded contingent on the outcome of November's referendum.

Rumors swirled for weeks that Walsh was close to a deal with Mohegan. He declined yesterday to comment on the status of the negotiations.

Asked Wednesday if he was leaning toward Mohegan over Wynn, Walsh responded, "I'll probably let you know in 12 hours." Asked about traffic mitigation, he said, "One proponent is willing to invest some serious money in mitigation, and the other proponent's willing to not invest that much. You'll know pretty soon who those are."

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Nurses set to drop ballot questions

A union representing Bay State nurses says it will withdraw two proposed November ballot questions if a deal reached on nurse-patient ratios that the Legislature put on the fast track is signed into law.

The Senate yesterday joined the House in approving the agreement that would set a one nurse, one patient ratio in Bay State hospital intensive care units, with certain exceptions.
 It now goes to Gov. Deval Patrick's desk.

"This is a landmark victory for patient safety," Massachusetts Nurses Association President Donna Kelly-Williams said in a statement.

"This measure will protect the most critically ill patients in our hospitals and moves us closer to our ultimate goal, which is to extend these limits in all hospital units to protect all patients."

Once the bill becomes law, the union will withdraw two proposed ballot initiatives: one that would require nurse-patient ratios and another that would force hospitals to be more transparent about their financial holdings, Kelly-Williams said.

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John Fish: Public support critical to Olympic bid

With the U.S. Olympic Committee expected next week to begin its road show to Boston and three other cities on its shortlist to host the 2024 Summer Games, John Fish is facing a tough sell to get naysayers to consider the bid, much less embrace it.

"I think the biggest hurdle is convincing people, the common person, to engage in the conversation in a thoughtful way without saying to themselves 'I do not want the Olympics in Boston,'" said Fish, the CEO of Suffolk Construction who is spearheading the effort to land the Games. "We are not asking people to host the Olympics. We are asking people to entertain the conversation about the potential of hosting an Olympic venue."

Fish said yesterday on Boston Herald Radio that getting public support for the Olympic plan is critical to sway the U.S. Olympic Committee to pick the Hub over three other contenders: San Francisco, Washington, D.C., and Los Angeles.

"They will review traffic, they will review infrastructure, and they will review the temperature socially of how it's going to be sort of met with in the community," he said. "The United States Olympic Committee does not want to entertain a host city that does not support this value proposition."

Fish said Mitt Romney, who rescued the Salt Lake City Winter Olympics in 2002, suggested treating the Olympic bid as a business venture.

"His advice was to us, our committee, you can win this thing, if you really want, but you have continue executing as if it is a business plan, a business strategy ... We are going to specifically take a business approach. And we are going to work with City Hall and the State House to see if this is right for us.

Among the greatest costs will be building the Olympic Stadium and Olympic Village, which he noted could be turned over to a college for student housing.

"There are one strong and potentially two institutions that would like to engage in a conversation (to build a stadium). That would be a public-private partnership, where it would be privately financed to a college or a university or a sports team that could utilize it," he said.

Fish mentioned that Cambridge, Somerville and East Boston as possible sites for some of the larger venues. "The most important thing we can bring to this equation is our impact and our passion to youth and sport. It's in our blood," he said. "Why don't we let the world see what offerings Boston, Massachusetts, and the commonwealth have ... and our love and passion for sport."

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Thailand OKs bigger warnings on cigarette packs

BANGKOK — A court in Thailand has given the go-ahead to a new regulation requiring packs of cigarettes sold in the Southeast Asian country to be 85 percent covered with graphic health warnings.

Public Health Ministry executive Dr. Nopporn Cheanklin said Friday that the change will take effect in September.

Currently, warnings illustrating the dangers of smoking must cover 55 percent of each pack of cigarettes sold in Thailand. Last year, the health ministry issued a regulation increasing the level of coverage to 85 percent.

Tobacco giant Philip Morris and more than 1,400 Thai retailers sued, and a court temporarily suspended the order. On Thursday, the Supreme Administrative Court ruled that the regulation can take effect before a lower court reaches a final verdict in the lawsuit.

Opponents have argued that such warning labels are ineffective and put the burden on cigarette makers.

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After Aereo, what's next for Internet TV?

LOS ANGELES — The Supreme Court shot down Aereo's business model this week, but that doesn't mean customers' desire for a better TV experience is gone.

Americans are still fed up with huge channel bundles, high prices, poor service and the lack of ability to watch all their shows on all their devices. That's part of why Aereo was attractive: It offered local broadcast channels and a few others on multiple devices for just $8 a month.

Industry watchers say the pay TV business must continue to evolve to win over unhappy customers, even if the nation's top court said grabbing signals from the airwaves and distributing them online without content-owner permission isn't the way.

"Even without Aereo, the reason people were cutting the cord, for cost reasons and so on, those don't go away," said Robin Flynn, an analyst with market research firm SNL Kagan.

Last year, the number of pay TV subscribers in the U.S. fell for the first time, dipping 0.1 percent to 94.6 million, according to Leichtman Research Group.

Into that breach have leapt companies that have offered quality TV content online for low cost, like Netflix and Amazon. Hulu, which is owned by major broadcast networks ABC, NBC and Fox, offers full episodes of popular shows like "The Colbert Report" the next day for free.

While that's not live TV, which Aereo offered, for many it's a good-enough substitute.

The decision against Aereo is a setback, but not a fatal one for people who want to break away from traditional TV, said Bill Niemeyer, senior analyst at TDG Research.

"While the content on the major broadcast networks is very important for some people, it's not important for everyone," Niemeyer said. "So it's a dent, but I don't think it's going to significantly change the trends."

If anything, the rise and fall of Aereo has highlighted an important fact — that high-quality TV signals are available on the airwaves for free — something that might have been forgotten if Aereo hadn't insisted that its technology simply replicates the antenna and wire that an average person could set up on their own.

"What Aereo has really done in our perspective is to address the lack of understanding that over-the-air is free," said Mark Buff, CEO of Mohu, a company that makes flat indoor antennas that attach to walls.

Mohu has sold 1.5 million antennas since it began in 2011 and they work in the kind of dense urban areas like New York where Aereo is believed to have had a small subscriber base. It is about to launch Mohu Channels, a device that blends Internet video services like Netflix with free-to-air TV in a single channel guide.

"We certainly do see and believe that the cord-cutting movement is on the rise," he said.

Alki David, the CEO of online streaming company FilmOn, said the Supreme Court's ruling actually creates an opportunity for startups because the court said that Aereo bears an "overwhelming likeness" to cable companies.

According to David, that means online video companies can compel broadcasters to license their TV signals under the "retransmission consent" rules outlined in the 1976 Copyright Act.

That could help online video companies create small broadcast-channel only bundles for consumers rather than 100-plus channel packages from traditional pay TV operators that cost more than what some consumers are willing to pay.

"This might be the undoing of the bundling system," David said. "The only compulsory license we're after are the four or five local channels in the city we're in. Of course it would be great. What else can it mean?"

But it's not like the pay TV industry is standing still.

Satellite TV company Dish Network Corp. said it's preparing to launch an online TV service with channels like ESPN, ABC, Disney Channel and others for about $20 to $30 a month before the end of the year. The target audience is young urban professionals who don't want to watch more than 20 or 30 channels.

Since last year, Comcast Corp. has offered a slimmed down package combining Internet service, a little more than 10 local TV channels and HBO for $40 a month for 12 months. That's just $10 more than getting the Internet alone.

Niemeyer says the incremental $10 charge for broadcast TV and HBO seems like a very Aereo-like offering, especially because the HBO GO app allows for online viewing, and having a pay TV subscription will allow customers to sign in to different online offerings by networks.

"It's something they wouldn't have done five years ago, but they're doing it," he said. "I think they're trying to think long-term about how to still be a big-dollar business. It means they have to change. They have to change on channel bundling, how they deliver services to people, using what pipes and how."

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Ruling may signal end of Aereo

Groundbreaking Internet TV startup Aereo's future is in doubt after a blockbuster Supreme Court ruling that it violated broadcasters' copyrights by taking their signals for free and sending them to Aereo's subscribers.

"This is pretty close to game over," said Mike Carrier, a Rutgers University law professor.

Nearly every major broadcaster had sued Aereo over its $8 a month streaming service, which lets subscribers watch over-the-air broadcasts on smartphones, iPads and other devices.

In his majority opinion, Justice Stephen Breyer said Aereo should be treated no different from a cable operator, and should pay the same retransmission fees to broadcasters.

"Aereo's system is, for all practical purposes, identical to a cable system," he said.

Aereo had argued that the individual antennas it gives subscribers are no different from traditional rabbit ears. Aereo CEO Chet Kanojia yesterday vowed to keep fighting.

"We are disappointed in the outcome, but our work is not done. We will continue to fight for our consumers and fight to create innovative technologies that have a meaningful and positive impact on our world," Kanojia said.

It's unclear what the future holds for Aereo's 80 Boston employees. Carrier said broadcasters will now have to ask a lower court for an injunction to stop Aereo from operating, which could take months.

For consumers, the biggest impact will be what does not happen, said Brett Sappington, a media analyst with Parks Associates.

"We were on the cusp of what could have been a very stark change in broadcast TV," Sappington said. "Had Aereo won, there might have been a very significant impact. This maintains the status quo."

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US 2nd only to Brazil in World Cup ticket sales

CHAMPAIGN, Ill. — Surprised the United States is the world's second-largest market for World Cup tickets, behind only host Brazil? Experts say you shouldn't be.

FIFA, soccer's global governing body, says about 200,000 tickets were sold in the United States, many through an online lottery months ago.

Insurance agent Zach Rambach of Springfield, Illinois, and five buddies spent about $5,000 each on their "bucket list" trip to the tournament. They'll see four games, including U.S. vs. Germany on Thursday.

"You can't relive this. To go to the mecca of soccer, Brazil, just the excitement, the atmosphere and how unbelievably excited they are about their team," Rambach, 31, said. "I would have paid triple for it, I really would have."

FIFA reported about 20,000 American fans attended the country's opening game against Ghana, or about half the crowd. Nishant Tella, a vice president at the New York City investment bank Inner Circle Sports, was among them.

"The fervor was there, everyone was fired up," said Tella, 31.

Here are some factors that make the U.S. a primary market for soccer's biggest event:

___

PEOPLE AND MONEY, AND LOTS OF BOTH:

The U.S. is the world's third-largest country by population, with more than 318.9 million residents, according to the U.S. Census Bureau. That dwarfs many of the world's soccer powers. If only 10 percent of Americans follow soccer — roughly 30 million people — that's three times the population of a soccer hotbed such as Belgium (population 10.5 million). The United Kingdom, the sport's birthplace, has a population of about 63.7 million, about a fifth of the size of the U.S.

The United States also is among the world's most affluent countries. Only a handful have higher per capita incomes, according to The World Bank, and they tend to be small countries like Kuwait, Australia, Switzerland and Sweden.

The combination of size and money is "the primary factor" behind the sales, according to Laurence DeGaris, an associate professor of marketing at the University of Indianapolis who regularly works in sports business.

___

POPULARITY RISING:

More than 24 million people in the U.S. watched the 2010 World Cup final — that's 10 million more than the World Series averaged per game last fall and triple the best-ever audience for the Stanley Cup final.

While it's tough to say exactly how popular soccer is as a spectator sport, television viewership suggests World Cup interest isn't something entirely new.

About 24.7 million people in the U.S. watched the home team play Portugal last Sunday, according to the Nielsen company. Four years ago, almost as many, 24.3 million, watched the World Cup final when no American was involved.

Neither figure can touch the Super Bowl, which drew 111.5 million viewers this year. But both are well beyond the 14.9 million last year's Fall Classic averaged per game and the best-ever 8.16 million who watched the 2013 Stanley Cup final.

___

NOT ALL STARS AND STRIPES

Ticket brokers and other experts believe most tickets bought in the United States were bought by fans of the U.S. team. But there's no doubt a substantial number of other teams' fans who live in the U.S. bought tickets, too.

Mexico fans from the United States in particular have been reported in significant numbers at that team's World Cup games. They regularly fill stadiums in the United States where the Mexican team plays many of its exhibition games, including a series of World Cup tuneups.

About 53 million people in the United States are Hispanic, according to the Census Bureau. And 65 percent of them are of Mexican origin, roughly 34.5 million people.

Smaller numbers of Americans whose ancestors emigrated from Italy, Portugal and other World Cup-featured countries cling loyally to those teams, too.

___

WHAT ABOUT THOSE BROKERS?

American sports fans accustomed to buying from secondary-market sellers such as Stubhub might wonder how many tickets purchased in the U.S. wound up selling on such sites.

Not many, it appears.

Stubhub says it has sold very few World Cup tickets. Ticketmaster says it isn't involved at all.

The companies FIFA works with directly to sell its tickets didn't return calls seeking comment this week. But the CEO of one smaller ticket broker, TiqIQ, said the secondary market for World Cup tickets is "relatively small compared to what you would see for other events."

TiqIQ's Jesse Lawrence estimated only about 50 seats were available for Thursday's U.S.-Germany game about 48 hours before kickoff.

"Like a Yankees game, there could be 5,000 seats available the day of the game," he said. "The vast majority of the people who wanted to go just got a ticket from FIFA, just through the online sale."

___

Suhr reported from St. Louis, Missouri.

___

Follow Mercer on Twitter: https://twitter.com/davidmercerap

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Google begins editing European search results

AMSTERDAM — Google has begun deleting some search results at the request of its users, following a court ruling that European Union citizens have a right to ask for the removal of embarrassing personal information that pops up on a search of their names.

Several weeks after the May ruling by the European Court of Justice on the so-called "right to be forgotten," the company set up an online interface for users to register their complaints.

The company said Thursday it has begun taking down results this week. But Google's European spokesman Al Verney said there is a significant backlog to work through. At last report, more than 50,000 people from multiple nationalities had filed requests to have information removed.

"Each request has to be assessed individually," Verney said.

The company is not releasing information on what percentage of complaints appear to fall into areas the court specified as potentially objectionable: results that are "inadequate, irrelevant or no longer relevant."

Europe's national data protection agencies have said they expect a mixed bag of 'legitimate' complaints, as well as some that are clearly not and some borderline cases.

Critics of the ruling say removing result links is censorship, and will lead to politicians and criminals requesting elimination of information. But supporters note the court specified Google should not remove links to information when the public's right to know about it outweighs an individual's right to privacy.

Under the system Google has set up, any search on a user's name from within the European Union is supposed to show a warning that information may have been removed due to privacy considerations, though the system is not yet fully operational.

In cases where the company decides to reject a response to scrub results, it informs the person that complained of its decision. Then it tells them how to contact their national data protection agency if they disagree with the decision and want to pursue the matter further.

Google is only deleting information that appears on its own results pages. It has no control over information on external websites, which did not fall under the court's ruling.

22.27 | 0 komentar | Read More

Ikea raises hourly pay for US retail workers

NEW YORK — Ikea's U.S. division is raising the minimum wage for thousands of its retail workers, pegging it to the cost of living in each location, instead of its competition.

The 17 percent average raise, expected to be announced Thursday, is the Swedish ready-to-assemble furniture chain's biggest in 10 years in the U.S.

The pay increase will take effect Jan. 1. It will translate to an average wage of $10.76 an hour, a $1.59 increase from the previous $9.17.

About half of Ikea's 11,000 hourly store workers will get a raise. How much will vary based on the cost of living in each store location.

Ikea, which has cultivated a reputation for fair treatment of its workers, evaluates its benefits plans every year and had always adjusted wages based on its competition. But Rob Olson, Ikea's acting U.S. president, says the latest move shifts its approach.

"Now, we decided to focus less on the competition and more about the co-workers," Olson told The Associated Press in an interview this week. He says he was guided by its vision of "creating a better life" for its workers. That will improve the company's relationship with employees and reduce worker turnover, which he says is already well below the retail industry's average. About 19 percent of full-time retail workers leave their jobs annually, according to the National Retail Federation.

Ikea's raises come when a push to raise wages for hourly workers has made headlines.

Fast-food workers asking for higher pay in cities have staged protests across the country. Union groups have also held protests at Wal-Mart Stores Inc., the nation's largest private employer. And President Barack Obama is endorsing a bill that would raise the federal minimum wage to $10.10 an hour by 2016.

Many business groups have opposed the measure, saying it would hurt the economy and lead to job losses.

Still, some are making public splashes with across-the-board raises. Gap Inc. said in February that it will set the minimum wage for workers at $9 an hour this year and $10 an hour in 2015. Most retail workers already make more than the federal minimum wage of $7.25 an hour, though not necessarily much more.

Olson emphasized that the pay increase will not lead to higher prices, reduced work hours or job losses. Rather, the raises are being offset by such cost-cutting measures as using national purchase programs for such items as cleaning services or printer paper. In the past, each store would use individual suppliers.

Olson said Ikea is basing its wage increase on the MIT Living Wage Calculator, which takes into consideration housing, food, medical and transportation costs plus annual taxes. Ikea says it's a significant departure from the retail industry standard, which sets wages according to the local employment market.

All 38 U.S. locations as well new locations planned for Merriam, Kansas; Miami; and St. Louis will use the new wage structure. It doesn't affect the remaining 2,615 salaried and hourly employees at five distribution centers, two service centers and a manufacturing plant. Those employees who have hourly jobs are already paid above the local living wage, Ikea said.

Ikea has recently expanded other employee benefits. In the past year, it has introduced an employee loyalty program, which makes contributions to a new retirement fund, and has increased the employer match to workers' 401(k) plans. It also launched a unified bonus program.

Olson said Ikea's wage structure varies by country based on different parameters. Ikea noted that if there's an increase in the federal minimum wage increase, it would welcome that.

Meanwhile, Wal-Mart has remained neutral on whether the federal minimum wage increase should be increased. The nation's largest private employer, with 1.3 million workers in the U.S., has said less than 1 percent of its workforce is paid minimum wage. It has said its average wage for both full- and part-time hourly workers is nearly $12 an hour.

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

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Monsanto shares rise on 3Q beat, big share buyback

WASHINGTON — Monsanto said its earnings fell more than 5 percent in the third fiscal quarter on lower biotech seed sales, but its performance topped Wall Street estimates and the company raised the lower end of its 2014 outlook. It also announced plans to repurchase $10 billion in shares.

The combination sent shares up more than 5 percent in morning trading Wednesday.

Monsanto Co. said the $10 billion share buyback will take place over two years. The company has about $1.1 billion remaining under its previous share buyback plan.

The St. Louis company said it earned $858 million, or $1.62 per share in the three months ended May 31. That was down from $909 million, or $1.68 per share, a year ago. Revenue was virtually flat at $4.25 billion

The company's earnings beat the average analyst projection, as measured by FactSet, for earnings of $1.54 per share on revenue of $4.39 billion for the quarter.

The company raised the low end of its 2014 forecast to between $5.10 and $5.20 per share. Previously the company's estimate was for earnings of $5 to $5.20 per share.

Monsanto has dominated the bioengineered-seed business for years and recently began developing products specifically for emerging markets like Argentina, Brazil and parts of Asia. The company is also making investments in computerized tools for the agricultural sector.

Monsanto executives predict this expanded portfolio of products will allow the company to double its earnings per share over the next five years.

"The new target reflects management's confidence in the growth opportunity for the core business and transformational potential in new platforms," the company said in a statement.

Monsanto said its seed business will remain the main driver of growth through 2019, contributing an estimated $4 billion in profit over that period.

Sales of the company's best-selling product, genetically-enhanced corn seeds, declined 16 percent in the most recent three-month period as more farmers switched from planting corn to soybeans. The U.S. Department of Agriculture expects farmers to plant 6 percent more acres of soybeans this year than in 2013, amid predictions of tight supply and higher global demand.

Monsanto also sells genetically-enhanced soybeans designed to increase yield and resist herbicides and pesticides. Sales of those seeds increased 24 percent to $816 million in the last quarter.

Shares of Monsanto Company rose $6.60, or 5.5 percent, to $127.23 in morning trading. Its shares have risen more than 25 percent over the past year.

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Supreme Court rules Aereo is illegal

In a landmark tech decision, the Supreme Court has ruled that Aereo, a groundbreaking internet TV streaming start-up, violates copyright law, a ruling that could shut the company down.

Aereo has been sued by nearly every major broadcaster for its $8 per month streaming service.

The Supreme Court said Aereo's transmissions, which are sent over the internet to consumers, are considered a public performance, which falls under copyright law.

To continue streaming the same content, Aereo would have to pay re-transmission fees to the broadcasters, the way cable companies do.

It is unclear what will happen to Aereo, but CEO Chet Kanojia has said repeatedly there is no plan B for the company.

Supporters of Aereo have said a ruling against the company would set a dangerous precedent for the cloud computing industry, but the court disagreed.

"The Court does not believe its decision will discourage the emergence or use of different kinds of technologies," the decision says.

Aereo has raised $97 million in venture financing, including from Boston's Highland Capital. The company has 80 employees in the Seaport District, and among the broadcasters suing was WCVB (Ch. 5).

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Google to show off smart home gadgets, wearables

SAN FRANCISCO — Google is expected to reveal an Android update, smart home devices and other innovations at its two-day developer conference, beginning Wednesday in San Francisco.

As Google's Android operating system stretches into cars, homes and smartwatches, this year's annual confab will expand on its usual focus on smartphones and tablets.

Pacific Crest analyst Evan Wilson believes Google will unveil a new version of its Android operating system — possibly called Lollipop — with a "heavy focus" on extensions for smartwatches and smart home devices.

"We think Google will directly counter Apple's recent announcements of health products (Apple HealthKit) and home automation (Apple HomeKit)," Wilson wrote in a note to investors.

Google's I/O event —a rally of sorts designed to get developers excited about creating apps and devices for Google's ecosystem— comes at a time of transition for the company, which makes most of its money from advertising thanks to its status as the world's leader in online search. The company is trying to adjust to an ongoing shift to smartphones and tablet computers from desktop and laptop PCs. Though mobile advertising is growing rapidly, advertising aimed at PC users still generates more money.

At the same time, Google is angling to stay at the forefront of innovation by taking gambles on new, sometimes unproven technologies that take years to pay off —if at all. Driverless cars, Google Glass, smartwatches and thinking thermostats are just some of its more far-off bets.

On the home front, Google's Nest Labs —which makes network-connected thermostats and smoke detectors— announced earlier this week that it has created a program that allows outside developers, from tiny startups to large companies such as Whirlpool and Mercedes-Benz, to fashion software and "new experiences" for its products.

Integration with Mercedes-Benz, for example, might mean that a car can notify a Nest thermostat when it's getting close to home, so the device can have the home's temperature adjusted to the driver's liking before he or she arrives.

Nest's founder, Tony Fadell, is an Apple veteran who helped design the iPod and the iPhone. Google bought the company earlier this year for $3.2 billion.

Opening the Nest platform to outside developers will allow Google to move into the emerging market for connected, smart home devices. Experts expect that this so-called "Internet of Things" phenomenon will change the way people use technology in much the same way that smartphones have changed life since the introduction of Apple's iPhone seven years ago.

Google is also likely to unveil some advances in wearable technology. In March, Google released "Android Wear," a version of its operating system tailored to computerized wristwatches and other wearable devices. Although there are already several smartwatches on the market, the devices are more popular with gadget geeks and fitness fanatics than regular consumers. But Google could help change that with Android Wear. Android, after all, is already the world's most popular smartphone operating system.

Google may also have news about Glass, including when the company might launch a new and perhaps less expensive version of the $1,500 Internet-connected eyewear. Google will likely have to lower the price if it wants Glass to reach a broader audience. But that's just one hurdle. Convincing people that the gadget useful, rather than creepy, is another one.

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US economy shrank at steep 2.9 percent rate in Q1

WASHINGTON — The U.S. economy shrank at a steep annual rate of 2.9 percent in the January-March quarter as a harsh winter contributed to the biggest contraction since the depths of the recession five years ago. But the setback is widely thought to be temporary, with growth rebounding solidly since spring.

The first-quarter contraction reported Wednesday by the Commerce Department was even more severe than the 1 percent annual decline it had estimated a month ago. Besides the harsh winter, much of the downward revision reflected a drop in health care spending. Another factor was a bigger trade deficit than initially estimated.

Though such a sharp decline would typically stoke fears of another recession, analysts see it as a short-lived result of winter storms that shut factories, disrupted shipping and kept Americans away from shopping malls and auto dealerships. They say the economy is rebounding in the April-June quarter. Many expect growth to reach a robust annual rate of at least 3.5 percent this quarter.

Most analysts also foresee the economy expanding at a healthy rate of around 3 percent in the second half of this year.

Reports on consumer spending, manufacturing and business investment have shown a solid rebound this spring. Orders for big-ticket manufactured goods excluding military hardware and for core capital goods, a proxy for business investment, rose strongly in May, a report Wednesday showed.

"We have ample evidence that the first quarter was just a temporary setback for the economy, and we are climbing out of the hole in the current quarter," said Stuart Hoffman, chief economist at PNC Financial.

Last quarter's 2.9 percent annual decline in economic activity, as measured by the gross domestic product, followed a 2.6 percent gain in the fourth quarter. It was the weakest showing since the economy shrank at a 5.4 percent annual rate in the first quarter of 2009 in the midst of the Great Recession.

Most of the downward revision from the government's previous estimate of a 1 percent annual decline reflected a change in the estimate of spending on health care. The government had previously estimated a strong gain in this category reflecting implantation of provisions of the Affordable Care Act.

But data derived from an actual survey showed the government's estimate was far too optimistic. Health care spending, instead of rising at a 1 percent rate, had fallen in the first quarter at a 0.2 percent rate.

Analysts say solid hiring, growth in manufacturing and surging auto sales are contributing to a stronger economy. A stumbling housing recovery has been a concern. But even there, recent data on home sales and construction have been encouraging.

"The larger contraction in GDP in the first quarter is not a sign that the US is suffering from a fundamental slowdown," said Paul Dales, senior U.S. economist at Capital Economics.

If economists are correct that annual growth will reach around 3 percent in the second half of the year, it would be a sharp improvement from the 2 percent annual pace of the first five years of this subpar economic recovery.

"We should have a much better second half this year and a much better 2015 than 2014," said Mark Zandi, chief economist at Moody's Analytics.

Zandi said he's forecasting growth of 3.5 percent to 4 percent in 2015. If he's correct, that would be the strongest year since the economy grew 3.8 percent in 2004.

"In past recoveries, we have always gotten a year of very strong growth," Zandi said. "I think we will get that in 2015," helped by a long-awaited improvement in wage growth.

Of course, the optimistic projections could prove too rosy. Analysts see risks to their forecasts, primarily the possibility that tensions in the Middle East could cause oil prices to surge given the deteriorating crisis in Iraq.

Surging energy prices have preceded earlier economic slowdowns, including the most recent recession.

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Stocks edge higher despite economic data

NEW YORK — Stocks were moving slightly higher early Wednesday as investors set aside two disappointing economic reports. Monsanto jumped after the company posted earnings that topped estimates and disclosed a big stock buyback plan. CBS and other broadcasters rose after the Supreme Court ruled that a startup Internet company has to pay them when it takes television programs from the airwaves and allows subscribers to watch them on smartphones.

KEEPING SCORE: The Dow Jones industrial average rose 30 points, or 0.2 percent, to 16,847 as of 10:30 a.m. Eastern time. The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,954 and the Nasdaq composite was flat at 4,359.

BROADCAST BOOST: CBS and other TV companies rose after the Supreme Court ruled that Aereo, a startup Internet company, would have to pay them when it takes television programs from the airwaves and allows subscribers to watch them on smartphones and other portable devices. CBS rose $3.21, or 5 percent, to $62.01 and Walt Disney, which owns ABC, rose 91 cents, or 1.1 percent, to $83.58. TV station owners also rose. Sinclair Broadcasting jumped $4.45, or 15 percent, to $33.74.

ECONOMICS: In a revised estimate, the Commerce Department said the U.S. economy shrank at annual rate of 2.9 percent in the first three months of the year. Two-thirds of the downward revision reflected a decline in health care spending. The Commerce Department also said orders for long-lasting goods sank 1 percent in May as demand for military equipment fell sharply.

FERTILE SOIL: Monsanto's earnings fell more than 5 percent but its overall results still beat analysts' estimates. The company, which sells corn and soybean seeds, also announced plans to spend up to $10 billion on buying its own stock. Monsanto rose $6.12 to $126.75.

RIPPED PAGES: Barnes & Noble jumped $2.15, or 11 percent, to $22.73 after the bookseller said it would become two publicly traded companies, one focused on retail bookselling and one on its Nook Media business, which sells electronic reading devices.

BONDS AND COMMODITIES: In government bond trading, prices rose. The yield on the 10-year note, which falls when prices rise, dropped to 2.54 percent from 2.58 percent late Tuesday. Crude oil rose 6 cents to $106.09.

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Woman or machine? New robots look creepily human

TOKYO — The new robot guides at a Tokyo museum look so eerily human and speak so smoothly they almost outdo people — almost.

Japanese robotics expert Hiroshi Ishiguro, an Osaka University professor, says they will be useful for research on how people interact with robots and on what differentiates the person from the machine.

"Making androids is about exploring what it means to be human," he told reporters Tuesday, "examining the question of what is emotion, what is awareness, what is thinking."

In a demonstration, the remote-controlled machines moved their pink lips in time to a voice-over, twitched their eyebrows, blinked and swayed their heads from side to side. They stay seated but can move their hands.

In a clear triumph, Kodomoroid read the news without stumbling once and recited complex tongue-twisters glibly.

The robot, designed with a girlish appearance, can use a variety of voices, such as a deep male voice one minute and a squeaky girly voice the next. The speech can be input by text, giving them perfect articulation, according to Ishiguro.

There were some glitches — such as the lips not moving at all while the robot spoke, or the Otonaroid announcer robot staying silent twice when asked to introduce itself.

But glitches are common with robots because they are delicate gadgetry sensitive to their environment.

Kodomoroid and the woman robot Otonaroid were joined at the demonstration by the minimally designed Telenoid, a mannequin head with pointed arms that serves as a cuddly companion.

The two life-size robots, which have silicon skin and artificial muscles, will be on display starting Wednesday, at Miraikan museum, or the National Museum of Emerging Science and Innovation, in Tokyo, allowing the public to interact with them extensively.

Reflecting widespread opinion, Ishiguro said Japan leads the world in playful companion robots. But he acknowledged the nation was behind the U.S. in military robots.

Developing robots for more than 20 years, Ishiguro has made a point of creating robots that approximate the human appearance, including creatures that look like him. He has sent them to give overseas lectures.

His approach differs from some robotics scientists who say human appearance is pointless, perhaps creepy, and robots can look like machines, such as taking the form of a TV screen or a portable device.

Ishiguro noted proudly how Japanese Internet company Softbank Corp. recently showed a robot named Pepper, which looks a little like C-3PO in "Star Wars," and will sell for less than 200,000 yen ($2,000).

Pepper's arrival means robots are increasingly becoming part of everyday life in Japan.

"Robots are now becoming affordable — no different from owning a laptop," said Ishiguro.

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Online: Hiroshi Ishiguro Laboratories http://www.geminoid.jp/en/index.html

Follow Yuri Kageyama on Twitter at https://twitter.com/yurikageyama

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Walgreen 3Q profit jumps but misses expectations

Walgreen's fiscal third quarter earnings jumped 16 percent compared with last year, aided in part by a lower income tax rate, but the nation's largest drugstore chain missed Wall Street's expectations.

The Deerfield, Illinois, company's shares slid almost 2 percent about an hour before markets opened and after it announced results Tuesday morning.

Walgreen said an increase in foreign income helped knock its tax rate down to 31.5 percent, compared with 38.7 percent last year. As a result, the company's income tax provision dropped $43 million in the quarter.

The lower tax rate contributed a benefit of about 8 cents per share toward the company's earnings, Cantor Fitzgerald analyst Ajay Jain said in a research note that described Walgreen's earnings as weak.

Walgreen Co. earned $722 million, or 75 cents per share, in the quarter that ended May 31, up from $624 million, or 65 cents per share, a year ago.

Adjusted earnings excluding one-time items totaled 91 cents per share. Analysts surveyed by FactSet expected 93 cents per share.

The drugstore chain's revenue climbed 6 percent to $19.4 billion. Analysts forecast $19.44 billion in revenue.

Walgreen also said Tuesday it is considering the second step in its combination with Swiss health and beauty retailer Alliance Boots, and it will hold an investor call later this summer to discuss that. The U.S. company acquired a 45 percent stake in Alliance Boots in 2012 and has an option to buy the rest of the company, which runs the largest drugstore chain in the United Kingdom.

Jain said Walgreen also may discuss a possible inversion with the Swiss company during its call later this summer.

Several large U.S. companies have used mergers recently to reincorporate overseas in countries with lower tax rates or pushed for such a move. The drugmaker Pfizer recently tried unsuccessfully to acquire U.K.-based AstraZeneca PLC.

Earlier this month, U.S. medical device manufacturer Medtronic Inc. said that it agreed to buy Ireland-based competitor Covidien for $42.9 billion in cash and stock. The combined company would have its executive offices in Dublin.

Ireland taxes corporate income at 12.5 percent. That compares to rates of well over 30 percent in the United States.

Walgreen operates 8,217 drugstores, or more than competitors CVS-Caremark Corp. and Rite Aid Corp.

Its shares were down $1.36, or 1.8 percent, to $72.37 in premarket trading.

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Massachusetts home sales down, median prices up

BOSTON — Sales of single-family homes in Massachusetts fell in May when compared to the same month a year ago, but median prices continue to soar.

The Massachusetts Association of Realtors on Tuesday reported a nearly 10 percent drop in sales when compared to May 2013, but a 7 percent increase in the median price to nearly $348,000.

The Warren Group, a publisher of business data, reported a 7 percent year-over-year decrease in sales but a jump in median prices of almost 5 percent to $340,000.

The organizations us different figures in their calculations.

Realtors' President Peter Ruffini says rising prices are being caused by qualified buyers taking advantage of low interest rates to buy a limited supply of homes.

Warren Group CEO Timothy Warren Jr. says rising prices are a sign of recovery.

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Stocks flat despite strong housing, consumer data

NEW YORK — U.S. stock indexes were little changed in early trading Tuesday as investors worked through a handful of economic reports. Homebuilder stocks rose sharply after the government reported that sales of new U.S. homes rose in May to the highest level in six years.

KEEPING SCORE: The Dow Jones industrial average rose 10 points, or 0.06 percent, to 16,947 in the first hour of trading. The Standard & Poor's 500 index rose a point, or 0.1 percent, to 1,964 and the Nasdaq composite was up 14 points, or 0.3 percent, to 4,382.

DRUG BOOST: Vertex Pharmaceuticals soared $27.13, or 40 percent, to $93.77 after saying its treatment for cystic fibrosis appeared to work better than a placebo in a late-stage study. Vertex plans to seek approval for the treatment in the U.S. and Europe.

EARNINGS MISS: Drugstore chain Walgreen fell $1.75, or 2.5 percent, to $71.99 after the company reported a fiscal third-quarter profit that missed analysts' expectations.

INDICATORS: The Commerce Department said sales of new homes jumped 18.6 percent in May to an annualized rate of 504,000. That's the highest level since May 2008. In a separate report, the Conference Board said consumer confidence rose to 85.2 in June, better than the 83.5 economists had predicted.

BONDS AND COMMODITIES: Bond prices rose. The yield on the 10-year Treasury note fell to 2.61 percent from 2.63 on Monday. The price of oil was little changed at $106.16 a barrel.

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US new home sales rocket higher in May

WASHINGTON — Sales of new U.S. homes rose in May to the highest level in six years, providing the strongest signal yet that housing is recovering from a recent slowdown.

New home sales jumped 18.6 percent last month following a 3.7 percent increase in April, the Commerce Department reported Tuesday. The gains followed declines in February and March that were blamed in part on harsh winter weather.

The big May increase pushed the seasonally adjusted annual sales rate to 504,000, the highest level since May 2008.

"This is the strongest level since the end of the recession and is an encouraging sign that housing activity improved in the second quarter," Cooper Howes, an economist at Barclays Research, said in an analyst note.

Home sales peaked last year at an annual rate of 459,000 in June, but then lost altitude. The decline reflected an increase in mortgage rates that occurred after the Federal Reserve began discussing pulling back on its monthly bond purchases that were keeping long-term interest rates low.

The inventory of unsold new homes was unchanged at 189,000 homes at the end of May, the same as April. That inventory level would be depleted in 4.5 months at the May sales pace, an extremely low level that underscored the fact that the supply of new homes remains well below historic averages.

Sales were up in all regions of the country in May, led by a 54.5 percent surge in sales in the Northeast. New home sales rose 34 percent in the West and 14.2 percent in the South. The Midwest had the smallest month-over-month sales gain of just 1.4 percent.

Even with the big overall gain, sales of new homes are still running at just about half the pace of a healthy real estate market.

But there have been some encouraging signs of a spring rebound in housing.

The National Association of Realtors reported Monday that sales of previously owned homes jumped 4.9 percent in May, the biggest one-month gain in nearly three years. That increase pushed the sales rate to 4.89 million homes, the strongest showing since last October.

While economists were encouraged by the second straight monthly gain in existing home sales, they noted that the sales rate is still below the recent peak of 5.38 million sales hit last July.

Higher mortgage rates and the bad weather weighed on sales of both existing and new homes in late 2013 and early 2014. But sales seem to be staging a rebound, helped by solid job growth and growing inventories of homes for sale, a development that has helped to hold down price increases.

Economists say there is significant pent-up demand for homes as many potential buyers put off purchases over the past few years because of concerns about the economy.

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Honda, Mazda, Nissan issue recalls over airbags

TOKYO — Honda, Mazda and Nissan are recalling millions of vehicles globally for defective airbags manufactured by supplier Takata Corp. that could possibly explode.

No accidents have been reported related to Monday's recalls.

Honda Motor Co. recalled 2.03 million vehicles for the airbag problem, including 1.02 million in North America and nearly 669,000 in Japan. It said they were manufactured between 2000 and 2005.

That came on top of a million vehicles Honda recalled last year for similar Takata airbag problems.

Nissan Motor Co. recalled 755,000 vehicles globally manufactured from 2001 through 2003, while Mazda Motor Corp. recalled nearly 160,000 vehicles manufactured from 2002 through 2004.

Like Honda, both companies announced recalls last year, but in smaller numbers.

Takata recently realized that the earlier recall had not included all of the problem airbags, the automakers said.

Toyota Motor Corp. announced an airbag recall earlier this month for 2.27 million vehicles, including some that were recalled last year. One fire was reported related to the defect, but no one was injured in that incident, Toyota said.

Toyota, the world's No. 1 automaker, was also investigating a crash in Puerto Rico in which the driver suffered a minor cut on the forehead which may have been caused by an abnormal passenger-side airbag deployment.

Toyota's affected models include the Corolla, Matrix, Tundra, Yaris and Camry. The models recalled at Honda include the Fit, Element and CR-V, while those at Nissan are the Cube, X-Trail and some Infiniti models. Recalled at Mazda were the Atenza and RX-8.

Tokyo-based Takata is a major manufacturer of airbags, seat belts, steering wheels and other auto parts.

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Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

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New Pebble: Time for a sharper look

Pebble Steel ($229, Best Buy)

Usually big upgrades contain big changes. But the latest iteration of Pebble's smart watch for iOS and Android is entirely the same on the inside. It's the outside that's changed.

The good: Finally, a smart watch that looks grown up. With two options for the watchband — matte black leather or stainless steel — this sharp smart watch resembles something you'd find in a glass case at a department store. Unlike its bulky, rubbery predecessor, it's a fine choice for an elegant dinner or business meeting.

The bad: Much like its predecessor, the Pebble Steel doesn't do a whole lot. It'll let you know when calls, emails or texts are coming in. It makes it easier to keep your smartphone on silent and in your pocket. But this is hardly a deep-functioning device.

The bottom line: If the fashion factor was the only thing stopping you from buying a Pebble, this is your best bet. But if you don't find yourself yearning for this fledgling piece of technology, wait until something more sophisticated and comprehensive comes out. It's bound to happen.

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Apple eyes details in coming upgrade

Apple's next mobile operating system — slated for release in the fall — contains a slew of small, new conveniences that should make for a solid upgrade to iPhones and iPads.

I've been testing the beta version of iOS 8, loading it onto an old iPhone that I don't regularly use because prerelease operating systems are, by definition, still full of software bugs that can do permanent damage. But this system is already pretty seamless, indicating a much smoother launch for this system than its predecessor, a hiccup-ridden version of iOS 7 that was released to the public last fall.

This upgrade doesn't contain much in the way of visual design changes. It's the small things — like a new feature that lets users scan in their credit cards rather than having to manually enter them for online purchases — that make iOS 8 a crowd-pleaser.

It's like Apple took a step back and thought about what its users need and want. For instance, a new feature for flaky phone users: The phone automatically beams out its last known location just as the battery is about to die. So when you realize your phone is gone and you can't follow the sound of the ring because it's dead, your iCloud account points you in the right direction.

Another feature for iPhone users who like to live on the edge: You can now hide videos and photos that you've taken from sticky-fingered friends and family who swipe through your phone without asking.

For the trigger-happy among us, there is a photo recovery function, allowing users to undo accidental deletions for the first time.

Photo-editing tools giving the user more control over focus and exposure in iOS 8. Apple has finally caught on to the lure of so many photography apps that are sold in its App Store. It's making many of the features contained within them native to the system, in addition to adding a time-lapse video feature that is perfect for all those wannabe videographers egged on by Vine and Instagram.

The next iPhone is rumored to be scheduled for release around the time that iOS 8 is pushed out. Recent reports indicate that the iPhone 6 could resemble a phablet — a smartphone/tablet hybrid that has, until now, been the province of Windows and Android phones. All signs point to iOS 8 providing a solid software platform for the upcoming debut of whatever hardware Apple has in store for consumers.

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Asian markets higher on China factory growth

HONG KONG — Australian shares led Asian stock markets modestly higher on Monday after a report showed Chinese manufacturing expanded for the first time this year, signaling that the No. 2 economy's growth slowdown has bottomed out.

Australia's benchmark S&P/ASX 200 index rose 0.8 percent to 5,450.80 and the country's currency strengthened after HSBC's preliminary purchasing managers' index showed that activity in China's huge manufacturing sector rose to the highest level since December.

The bank said the reading shows that that the effects of recent mini-stimulus measures unleashed by Beijing to boost growth were filtering through to the economy. Beijing is targeting full-year economic growth of 7.5 percent and last week Premier Li Keqiang vowed that the country would avoid a so-called "hard landing."

A Chinese rebound would benefit big mining companies in Australia, where the resource-driven economy has become highly dependent on China's demand for commodities such as iron ore.

"Signs of improvement amid policy support ought to allay overdone fears of a hard landing in China," Mizuho Bank said in a report. "And this ought to inspire some optimism in broader Asia."

Gains in other Asian markets were more restrained. Japan's Nikkei 225 edged 0.1 percent higher to 15,369.54 while South Korea's Kospi rose 0.4 percent to 1,976.34. Hong Kong's Hang Seng gained 0.3 percent to 23,262.39 while the Shanghai Composite Index in mainland China was flat at 2,027.35.

In energy trading, the price of U.S. benchmark crude for August delivery rose 33 cents to $107.16 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 78 cents to settle at $106.83 per barrel on Friday.

In currencies, the dollar slipped to 101.92 Japanese yen from 102.08 in late trading Friday. The euro rose to $1.3607 from 1.3599.

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Oracle buying Micros Systems for about $5.3B

REDWOOD SHORES, Calif. — Software maker Oracle is buying Micros Systems Inc., which provides software and hardware to the hospitality and retail industries, for about $5.3 billion.

Oracle Corp. said Monday that it will pay $68 per Micros share, a 3 percent premium to the company's $65.77 Friday closing price.

Shares of Micros gained $1.43, or 2.2 percent, to $67.20 in premarket trading Monday.

Oracle said the acquisition will extend its offerings by combining Micros' industry-specific applications with its business applications, technologies and cloud portfolio.

Oracle expects the deal to immediately add to its adjusted earnings. Its stock climbed 18 cents to $41 before the market opened.

Micros' board unanimously approved the transaction, which is expected to close in the second half of the year.

Oracle is based in Redwood Shores, California. Micros Systems is headquartered in Columbia, Maryland.

Last week Oracle reported fourth-quarter results that missed Wall Street's expectations, hurt in part by the devaluation of Venezuela's currency.

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Three ways to deal with stuck throttle emergencies

I read a recent article discussing GM's problems with their faulty ignition switch. You have given the advice in the past to turn off the ignition if the throttle sticks. This was mentioned several times when "unintended acceleration" was a common topic in the news. Does the information in this article change that advice?

Very timely and important question. In past columns I have written about how to deal with unintended acceleration/stuck throttle situations. In short, a driver has three tools to mitigate the threat of crashing: Push the brake pedal as hard as humanly possible, shift the transmission into neutral or turn off the ignition.

With the recent news regarding unintended "ignition off" scenarios in certain GM vehicles, it's well worth revisiting this issue.

First off, even if the engine is not running and the ignition switch is in the off position, the brakes and steering remain functional. Without power assist provided by engine operation, considerably more physical effort will be required to brake and steer the vehicle, but it will still stop and turn.

Shifting the transmission into neutral in response to the threat from a stuck throttle or unintended acceleration will disconnect the engine from the drivetrain while maintaining power assist to the steering and brakes. While it may seem potentially destructive to the engine, most modern engine management systems have limiters to prevent the engine from over-revving in neutral by cutting spark and/or fuel to limit engine speed.

Obviously, switching the ignition off will stop any type of unintended acceleration or stuck throttle. And doing so will not lock the steering. The ignition switch cannot be turned to the locked position unless the transmission has been shifted into park.

To address your specific question as to turning off the ignition in response to unintended acceleration or a stuck throttle, keep in mind that the air bags and supplemental restraint systems are not instantaneously disabled if the ignition is switched off. These systems have some type of backup power supplies in case the battery is disconnected or destroyed in the first instant of a crash. These systems, often based on a capacitor storing enough electrical charge to deploy the airbags, can keep the airbags operational for several seconds after loss of battery power — but just as obviously, not long enough to completely deal with an unintended acceleration or stuck throttle scenario.

With today's motor vehicles, the best response to unintended acceleration or some type of stuck throttle is to simply shift the transmission into neutral, deal with the situation by steering and braking to a safe stop and then turning off the key. Every motorist should mentally anticipate this scenario and understand the steps necessary to safely deal with it.

A: little forethought and practice can prevent unintended acceleration or a stuck throttle from ending in tragedy.

I have a 1994 Honda Accord with less than 48,000 original miles. For the past five years it has been suggested to have the timing belt replaced because of the age of the car. I just hate to touch something that isn't broken. I do understand if it does fail, I will be in bad shape. Are there any signs that I could look for to let me know it needs replacement?

A: Yes, the engine suddenly stops running! And since this is a so-called interference engine, expensive valve-to-piston contact and damage can occur.

It is possible to inspect the timing belt by removing the top engine cover, turning the crankshaft with a ratchet and visually examining the belt for wear, damage or contamination from oil or coolant.

But since Honda's recommendation is timing belt replacement every 72 months, it's long overdue. I'd suggest having the timing belt and water pump replaced as preventive maintenance. But it's your call.

Paul Brand, author of "How to Repair Your Car," is an automotive troubleshooter, driving instructor and former race-car driver. Readers may write to him at: Star Tribune, 425 Portland Ave. S., Minneapolis, Minn., 55488 or via email at paulbrand@startribune.com. Please explain the problem in detail and include a daytime phone number.

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Gunmen attack port in Libya's eastern Benghazi

CAIRO — Gunmen in Libya attacked the port of the restive eastern city of Benghazi Saturday, firing wildly with small arms into the area for hours, a Libyan security official said.

He said security forces and citizens blocked the city's surrounding roads after the attack, which left six people wounded. He said the attack was likely a reprisal by Islamist militiamen targeted by the forces of renegade Libyan Gen. Khalifa Hifter.

Hifter's forces have been shelling boats smuggling weapons to the militia, said the official, who spoke on condition of anonymity because he was not authorized to brief reporters.

Over the past weeks, forces allied with Hifter have bombed the camps of Islamist militias, which have attacked his troops in return. They also attempted to assassinate Hifter himself, but killed four others instead in the attack.

Benghazi, the birthplace of the 2011 revolt that led to the overthrow and killing of longtime dictator Moammar Gadhafi, has plunged into unrest and violence since then.

Libya is scheduled to hold parliamentary elections on June 25, aimed to end a standoff between Islamist and non-Islamist political groups.

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Alstom board approves GE bid to buy power business

PARIS — The board of Alstom SA has unanimously approved GE's $17 billion offer to buy the French company's power generation business, the companies announced Saturday.

GE says that if shareholders and workers' representatives approve, the deal to buy Alstom's gas and steam turbine-making operations will close sometime next year.

The move is another step for GE toward its new focus on building and servicing big, complicated industrial equipment such as aircraft engines, power plant turbines and oil and gas drilling equipment. The U.S. company sold its remaining interest in NBC Universal last year as part of the new strategy.

GE has been fighting for months to make the Alstom deal, and on Friday, the French government dropped objections and supported the company's offer. The deal is still subject to the French government buying a 20 percent stake in Alstom, and that deal is expected soon.

French President Francois Hollande said on Saturday that the government expects rapid progress on the talks.

"This is a major condition for the government's acceptance of the alliance," he said.

Also under the deal, GE agreed to sell its railroad signal business to Alstom for about $825 million. The sweetened GE offer also calls for the two companies to set up three 50-50 joint ventures: one for the power grid businesses, another for offshore wind and hydro-power operations, and a third for nuclear steam turbines.

Alstom's statement says the board received revised proposals from Siemens and Mitsubishi Heavy Industries, but decided on the GE bid.

Alstom has favored a tie-up with GE but had to postpone signing any deal while the government intervened to seek assurances on jobs and decision-making.

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Lighter tracks smoking habits

Smokers attempting to kick the habit will soon be able to see exactly how they're doing with a lighter that keeps track of their daily cigarette breaks.

Quitbit, a lighter that syncs up with a cellphone app, shows how many times a smoker lights up per day and how long its been since their last fix. The device, which should start shipping in December, was invented by two Brown University grads who wanted to figure out a new way to kick the habit.

"If you're trying to quit gradually, this can help keep you on pace," said Ata Ghofrani, Quitbit's CEO. "Optionally, you can connect it to your cellphone and set up a reduction plan and it will show you where you are with your daily goals."

The Boston-based company has raised more than $150,000 from several investors, including Delta Dental of Rhode Island, and venture capital funds Betaspring and Haxlr8r. It was also able to raise more than $55,000 through a Kickstarter crowdfunding campaign, Ghofrani said.

A Quitbit can be preordered for $99, and when it hits retail, Ghofrani expects the product to go for $149. So far, the company has close to 600 preorders, Ghofrani said.

Quitbit is going to take the money and put it into production. An industrial design already has been put together, and a free version of the Quitbit app is already available, Ghofrani said.

Users can put "hard limits" on the lighter, Ghofrani said. It can be set up to work once an hour, and if the smoker tries to light up beforehand, Quitbit won't provide the spark.

Ghofrani and Kuji Nakano, the company's chief technical officer, came up with the idea while having a cigarette. They began brainstorming about ways to cut back, and the concept of a customizable lighter stuck.

"I had the idea of setting a limit on a half-pack or quarter-pack, but I wasn't really sure how the process worked," Ghofrani said. "We started tracking our process on our phones, but none of it was seamless, so we started to think of other ways to do it. We came up with a lighter."

Quitbit's founders ran a small, five-person trial to determine how it works. Everyone involved was able to cut their smoking 30 percent over a month, Ghofrani said.

Ghofrani was able to quit smoking using the device, but Nakano still puffs.

"That's because we wanted to keep one person smoking until we actually sell it," Ghofrani said. "When you do research about smoking every day, you really don't want one."

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Cambridge nonprofit trains immigrants to be medical interpreters

When Claudette Aspilaire fled Haiti after the 2010 earthquake, she left the poorest country in the Western Hemisphere, where she had lived a relatively comfortable life as a teacher, to come to the wealthiest country, and find herself suddenly plunged into poverty.

In the United States, she couldn't find work but she had one crucial advantage: She spoke French, Haitian Creole and English.

"There comes a point where you realize this is an asset not everyone has," said Maria Vertkin, a Russian immigrant who runs the Cambridge-based nonprofit Found in Translation. "There's a shortage of bilingual talent, but there are so many bilingual people like Claudette who are overlooked."

Aspilaire enrolled in the 
medical-interpreter training program and today earns $20 an hour as an interpreter at Sharewood Project, a free-health care organization run by Tufts Medical School students and faculty in Malden.

"It's interesting helping others like me," said Aspilaire, a 60-year-old mother of three. "It's a stable job to help my family."

Vertkin started Found in Translation in 2011 with a $40,000 grant after graduating from Regis College with a degree in social work. She wanted to help women find work as a way out of poverty, but she knew that minimum-wage jobs weren't enough.

She discovered that the need for medical interpreters was expected to grow by 42 percent over the next decade, with a median annual wage of $45,430.

"I thought: This is a perfect fit," she said.

In January 2012, Found in Translation began offering a 12-week medical interpreter certificate course that, unlike other programs, was free to income-eligible women.

The first year, Vertkin had 164 applicants for 21 openings. The second year, she had 195 applicants for 31 openings. And this year, she had 235 applicants for 32.

"They act not only as interpreters, but also as liaisons to the communities we serve," said Elena Hill, the sexual- and reproductive-health director at Sharewood Project. "They show compassion and help us understand our patients better. So it's mutually beneficial to us, to the patients and to the interpreters."

Recently, the program was one of 128 startups the MassChallenge accelerator selected to receive free office space, mentoring and a chance at a share of $1.75 million in cash prizes — money that could help Found in Translation become self–sustaining and eventually branch out into training women to become interpreters in other fields, such as the law, Vertkin said.

"The program is innovative and empowers women economically," said Imina Nosa, one of Found in Translation's language coaches. "I see them growing from being powerless immigrants to people who bring value by applying what they have to help others and earn a livelihood. It's gratifying to see that transformation."

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