Delegation: Delay flood zone hikes

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

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

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

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

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

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

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

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

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

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

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Bill to add FDA control over compounding pharmacies

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

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

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

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

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

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

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A head turner on Marblehead Neck

Know a professional athlete or entertainer who is looking for that special waterfront getaway just a stone's throw from Boston?

Well this Hot Property just might be for them.

Located in the exclusive neighborhood of Marblehead Neck, this one-of-a-kind oceanfront estate offers 1.7 acres of combined lots (74,052 square feet), with expansive grounds and private access to a quiet beach.

This magnificently renovated home offers approximately 5,638 square feet of living space with all rooms facing the ocean. The five bedrooms, five full bathrooms and two half bathrooms make this property perfect for holding court with a full entourage or simply a very large family.

In addition, there are three fireplaces, a marble foyer centered on a grand spiral staircase, elegant formal living room and family rooms, as well as a professional grade kitchen.

Want your kids to be the envy of their friends? How about letting them hold weekend movie-marathons in their own private screening room?

Can't get to your gym in Boston while on the way to work? Not to worry. You have your own private exercise room.

There are multiple decks and porches and three attached garage parking 
spaces.

In addition, there is a private, lagoon-style pool, and basketball court.

So, what are you waiting for? All of this can be yours for a mere $7.99 million.

This home is being offered exclusively by Ricardo Rodriguez of Coldwell Banker Residential Brokerage. For more information or to schedule an appointment, please email Ricardo.Rodriguez@NEMoves.com.

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Boston building boom creates 8,700 jobs

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

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

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

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

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

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

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

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

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

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

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

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State Senate votes 38-0 to repeal tech tax

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

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

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

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US unemployment aid applications near 6-year low

WASHINGTON — The number of Americans seeking unemployment benefits fell 5,000 last week to a seasonally adjusted 305,000, the second-lowest level in six years. Steady declines in applications show that very few companies are laying off workers.

The Labor Department said Thursday that the less volatile four-week average declined 7,000 to 308,000, the lowest since June 2007.

All states reported their first-time applications on time, a department spokesman said. Applications plummeted three weeks ago because computer upgrades in California and Nevada prevented them from fully reporting their data. Those states have cleared their backlogs, the spokesman said.

Applications are a proxy for layoffs. Fewer layoffs suggest employers are confident enough to maintain their staffing levels. But companies have been reluctant to take the next step and ramp up hiring.

In fact, job gains have slowed in recent months. Employers have added an average of just 155,000 jobs a month since April. That's down from an average of 205,000 for the first four months of the year.

The unemployment rate dropped to 7.3 percent in August, from 7.4 percent in the previous month. But the drop mostly occurred because more Americans stopped working or looking for jobs. The government doesn't count people as unemployed unless they are actively searching for work.

The economy may be growing too slowly to generate stronger hiring. It expanded at a 2.5 percent annual pace from April to June, the Commerce Department reported today. That is up from a meager 1.1 percent annual rate from January through March. For the first six months of the year, the economy has grown at a rate of just 1.8 percent.

Economists worry that growth is slowing to an annual rate of 2 percent or less in the current July-September quarter. If correct, that would mark the third quarter in the last four that the annual growth rate has fallen to 2 percent or below, an abnormally low level of economic growth.

About 3.9 million Americans received unemployment aid in the week ended Sept. 7, about 23,000 more than the previous week. That total has fallen 32 percent in the past year. Some recipients likely found jobs, but many have simply used up all the unemployment benefits available to them.

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World Bank to fund Myanmar power plant upgrade

YANGON, Myanmar — The World Bank is lending Myanmar $140 million to upgrade an aging power plant in southeastern Mon state in a small step toward overcoming the country's chronic power shortages.

Myanmar, which exports natural gas to neighboring Thailand under contracts signed by its former military government, has suffered an energy deficit for years.

The World Bank said Wednesday the interest free loan will fund a refurbishment of the Thaton gas-fired power plant, increasing its generating capacity by 250 percent without an increase in its gas consumption.

It is the first World Bank loan to Myanmar since the development lender forgave $440 million of unpaid debt in January.

Myanmar only recently emerged from a half-century of military rule and isolation, during which time its once promising economy withered. More than 70 percent of people are without electricity.

A lack of funds, rising demand for energy , aging hydroelectric plants and poor grid infrastructure have resulted in frequent power cuts and rationing of electricity during the hot summer months when hydro power generators cannot operate at full capacity due to depleted reservoirs.

"It affects industries, it affects common people, kids cannot study at night because they do not have electricity," said Kanthan Shankar, World Bank country manager for Myanmar.

The bank said the 106 megawatt Thaton plant will provide 5 percent of peak power demand for the entire country and 50 percent of peak demand in Mon state.

Power shortages led to protests early last year in several cities. The government made an uncharacteristic appeal for understanding, saying that rationing was required to cope with greater demand.

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Global stocks meander as US budget debate looms

BANGKOK — Worries about the U.S. economy and a looming budget battle in Washington kept global stock markets in check Thursday.

Data released Wednesday showed orders for long-lasting durable goods increased by only 0.1 percent in August after a sharp drop the month before, raising concerns that third quarter U.S. economic growth may not be as strong as anticipated.

Meanwhile, two financial deadlines for the U.S. government loom. Congress needs to pass a funding bill to keep the federal government operating after Oct. 1, when its new fiscal year starts. And the nation's borrowing limit needs to be raised before Oct. 17.

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

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

European stocks fell in early trading. Britain's FTSE 100 was down less than 0.1 percent to 6,547.49. Germany's DAX shed 0.2 percent to 8,646.49. France's CAC-40 lost 0.3 percent to 4,181.72.

Wall Street looked set to recover ground lost after five straight losing sessions. Dow Jones industrial future rose 0.1 percent to 15,231 and S&P 500 futures gained 0.2 percent to 1,688.90.

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

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

"The banks in China lost about 200 billion in deposits. The money probably went into shadow banking, which means they created a liquidity problem for banks," said Francis Lun, chief economist at GE Oriental Financial Group in Hong Kong.

Hong Kong-listed China Construction Bank fell 1.3 percent while Industrial and Commercial Bank of China, the world's biggest bank by market value, lost 0.5 percent.

Benchmark oil for November delivery was up 15 cents to $102.78 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 47 cents to close at $102.66 a barrel on the Nymex on Wednesday.

In currencies, the euro fell to $1.3505 from $1.3517 late Wednesday. The dollar rose to 98.92 yen from 98.48 yen.

___

Follow Pamela Sampson on Twitter at http://twitter.com/pamelasampson

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Nissan recalls 908,900 vehicles for sensor problem

TOKYO — Nissan Motor Co. recalled 908,900 vehicles around the world Thursday for defective accelerator sensors that could cause the engine to stall.

The recall affects the Serena minivan, Infiniti M luxury model, X-trail sport utility vehicle and other models, the automaker said. No accidents have been reported related to the problem.

Most of the vehicles being recalled are in Japan. Others are in North America, Europe and Oceania, Yokohama-based Nissan said.

Sensors, manufactured in Japan, can malfunction, causing the vehicle to slow down and at times stop, it said.

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EBay to buy payments company Braintree for $800M

NEW YORK — PayPal parent eBay says it is buying online and mobile payments technology provider Braintree for $800 million in cash.

Braintree's payments technology is used by popular startups such as vacation rentals site Airbnb, cab-hailing app Uber and restaurant reservations site OpenTable.

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

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

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

EBay says it expects to close the deal before the end of the year.

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Amazon unveils Kindle Fire HDX with 24/7 live help

SEATTLE — Amazon is refreshing its line-up of tablet computers with new devices called Kindle Fire HDX, which are significantly faster and lighter than the previous generation.

The 7-inch and 8.9-inch versions also have sharper, more colorful displays than older models, and both have more pixels per inch than the latest iPad.

To help those who are unfamiliar with tablets, the new Kindles come with a feature called "Mayday", which allows users to summon a live customer service representative in a tiny video window. The helpers can explain new features or troubleshoot problems while guiding users with on-screen hand scribbles. They can even take control of the device from afar.

CEO Jeff Bezos introduced the feature to reporters Tuesday, saying it is "completely unique" and takes advantage of Amazon's massive cloud computing and customer service infrastructure. It also builds on Amazon.com Inc.'s reputation for excellent customer service.

"You shouldn't have to be afraid of your device," Bezos said.

In a demo, Bezos asked an on-screen customer service rep to recommend a hot app. The rep mentioned "Angry Birds: Star Wars II". Bezos also received instructions on how to set time limits on various activities for children.

While the new Kindles are upgraded in several ways, Amazon also cut the price on what will be its entry-level 7-inch tablet, the Kindle Fire HD with 8 gigabytes of memory, to $139 from a $199 version that had 16 GB of memory. That makes the tablet just $20 more than Amazon's latest dedicated e-reader, the Kindle Paperwhite. The Kindle Fire HD is sheathed in a new magnesium alloy body like the HDX models, but has the same screen resolution and processing power of the older model.

Stephen Baker, a consumer technology analyst with research firm NPD Group, said the price cut to the Kindle Fire HD will do more to help Amazon compete in the tablet market than the added features on the newer models.

"That's where that model needs to be priced," Baker said, explaining that there are numerous manufacturers with tablets with screens that measure 7 inches diagonally —all priced around $150. "A big focus in that 7-inch category is just price."

In the May-July period, Kindles accounted for 17 percent of all tablets sold in the U.S., compared to 48 percent for Apple's iPad and 8 percent for Samsung's Galaxy line, according to NPD.

Globally, Amazon's shipments in the April-June quarter were down 59 percent from a year earlier at 470,000, NPD said. That compared to 14.6 million for Apple's iPad, down 17 percent from a year ago, and 10.8 million for Samsung's Galaxy line, up 539 percent. Amazon sells most of its Kindles around the Christmas holidays, Baker said.

The Kindle HDX models come with Qualcomm's quad-core Snapdragon 800 processor, which is top of the line for tablets. Amazon said they are three times faster than the older Kindle Fire line. For graphics functions, the HDX models are four times faster than before.

Beyond the improved specifications, Amazon also unveiled more features that incorporate data from its IMDb movie database subsidiary. With the newer tablets, users who turn on the "X-ray" feature can see a small window that lists the name of a song that is playing in some TV shows and movies. One tap brings up the option to buy the song. Users can also look for all music in a show and zip to the exact spot where a particular song is playing.

People who have set up Amazon's video player as an app on their Internet-connected TVs or through game consoles can also follow along in real-time on their tablets, getting information on actors and trivia related to the shows on the big screen.

Music lovers can see song lyrics when they play songs purchased from Amazon. Lyrics are highlighted as they are sung. Tapping on the lyrics will zip to the appropriate point in the song.

Bezos said these services are only possible because Amazon provides the hardware, operating system, applications, cloud infrastructure and services for the devices. The "hardest and coolest" services such as its "Mayday" service lie at the intersection of "customer delight" and "deep integration through the entire stack," he said.

Amazon also unveiled new "origami covers" that lie flat when closed over the screen but can be folded and snapped into place as a stand that works both in horizontal and vertical position. They'll come in seven different colors and be sold separately for between $45 and $70.

The 8.9-inch Kindle Fire HDX starts at $379 for 8 GB of memory, while the 7-inch starts at $229 also with 8 GB. Buyers can pre-order starting Wednesday. The 7-inch will ship Oct. 18, while the 8.9-inch will ship starting Nov. 7.

___

Follow Ryan Nakashima on Twitter at https://twitter.com/rnakashi

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Premiums unveiled for health overhaul plans

WASHINGTON — The Obama administration is shifting into high gear to promote the new health care law ahead of an Oct. 1 start date for uninsured people to begin signing up.

Health and Human Services Secretary Kathleen Sebelius is revealing premiums and plan choices for 36 states where the federal government is taking the lead. The average sticker price will be $328 a month nationally for an individual plan. Results may vary considerably by state and particular circumstances. A tax credit will work like an upfront discount for most consumers.

Sebelius says about 95 percent of consumers will have two or more insurers to choose from.

The big difference among coverage levels is cost sharing through annual deductibles and copayments. Bronze covers 60 percent of expected costs; silver, 70 percent, on up to platinum at 90 percent. Bronze plans have the lowest premiums and the highest cost sharing.

Sound: 4:32 aed

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Delivery of first China jetliner delayed again

BEIJING — The delivery date of China's long-delayed first commercial jet airliner has been pushed back again, the manufacturer said Wednesday, the latest setback for China's ambitions to challenge market leaders Boeing and Airbus.

Originally promised for 2007, the plane was most recently expected late this year, but Comac Chairman Jin Zhuanglong said it will now be ready in mid-2014.

"The development will not always go smoothly, and the program cannot be accomplished at one stroke," Jin was quoted as saying in comments released by the company.

Jin blamed delays in the ARJ21 program on China's inexperience in designing, building and certifying commercial jetliners. But he said the program is still on track for delivery next year to launch customer Chengdu Airlines, a small Chinese regional carrier that has ordered 30 of the planes.

Delays in the 90-seat ARJ21 could have knock-on effects for the development of the bigger and more ambitious C919, intended to compete with Boeing's 737 and the Airbus A320. The U.S. Federal Aviation Agency will not issue crucial U.S. certification for the larger plane until the ARJ21 is certified.

Beijing has built up state-owned "national champions" not only in aviation but in industries from oil and telecoms to steel and banking with monopolies, low-cost bank loans and other favors. The government defends the privileges as necessary for creating companies that can compete globally but they are no guarantee of success, with Chinese state firms still lagging far behind Western competitors.

China launched the ARJ21 project in 2002 as rising household incomes sparked a massive expansion of the domestic airline industry that continues to this day. State-owned Comac was formed to build the aircraft in Shanghai and a host of foreign contractors signed on to provide avionics and other crucial systems.

Jin said four prototypes have made 2,000 flights. Two customer aircraft are in final assembly and another is under construction, he said.

Despite its problems, Comac already has about 240 firm orders and options for the ARJ21, mostly from domestic carriers, but also from GE Capital Aviation Services and Lao Airlines. It has even more, about 380, for the 174-seat C919.

Beijing prioritizes homegrown industries, which likely has given a boost to the sales. Beijing must approve all major airplane purchases and has considerable power over financing and other inducements that could sway domestic airlines into ordering the jets.

Equipment maker Honeywell has contracts with both planes, and its Asia-Pacific president for aerospace, Briand Greer, said delays are to be expected given the complexity of bringing together global suppliers and given China's newness to the Western certification process.

"It's a very, very complex thing to do. From my perspective, working with Comac isn't any more difficult than working with the other guys," Greer said in a recent interview.

In some ways, working with Comac is better than with established companies such as Airbus and Boeing because the Chinese company has greater appreciation for suggested improvements, Greer said. "They're much more open to what the suppliers are saying."

Greer said he has no doubt of the Chinese aircraft's eventual viability, given the government's massive backing.

"They made it a national agenda. They're putting hundreds of millions of dollars into it. It will be successful," he said.

Most of the customers for the ARJ21 will be Chinese carriers and a few small airlines in developing countries tempted by generous prices and financing terms, said Greg Waldron, Asia Managing Editor at Flightglobal magazine in Singapore.

However, both it and the C919 are "as much about gaining experience and know-how as they are about building competitive airliners," Waldron said.

"China is very serious about being a global aerospace player, and its current programs should be viewed as long term investments that will only start bearing fruit decades from now," Waldron said.

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French budget tries to turn page but growth weak

PARIS — The French government has declared the economic crisis over and is promising that its budget for next year will bring growth and jobs, but experts are criticizing the proposal from all sides and a true rebound looks a ways off.

In a budget unveiled Wednesday, the government says it will cut the deficit by nearly 18 billion euros ($24 billion), 14.8 billion euros of which will come from spending cuts and the rest from taxes.

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

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

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

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

In terms of reducing the deficit, the budget appears to be Paris' belated effort to fall in line with the rest of Europe's focus on cutting public spending, which makes up 57 percent of gross domestic product.

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

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

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

Eric Heyer, an economist with the French Observatory for Economic Forecasts, says the budget is moving in the right direction, but that spending cuts are still not advisable since the economy remains in trouble.

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

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

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

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

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

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

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Futures under pressure with budget fight looming

NEW YORK — Stock futures are falling with less than a week before the country reaches its debt ceiling.

The broader futures for Standard & Poor's, after reaching record heights last week, have been pushed below the 1,700 level every day this week as the threat of a government shutdown grows closer.

Dow Jones industrial futures are down 13 points to 15,273. S&P futures have lost 2.5 points to 1,690. Nasdaq futures are down 2.75 points to 3,210.50.

Aside from the political stalemate, the housing market is providing some optimism. KB Homes and Lennar, two major builders, posted huge numbers for their latest quarters this week and the S&P/Case-Shiller 20-city home price index found home prices rose 12.4 percent in July.

The Commerce Department reports new home sales numbers on Wednesday.

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Boston Herald - Boston Herald

http://bostonherald.com/feed/4 en http://bostonherald.com/business/media_marketing/2013/09/kathie_lee_gifford_hoda_kotb_joining_daily_news <p>NEW YORK &mdash; Kathie Lee Gifford and Hoda Kotb are joining the Daily News as columnists.</p><p>The newspaper says the pair, who host the fourth hour of NBC&#39;s &quot;Today&quot; show, will dispense advice on food and fashion and discuss pop culture.</p><p>Their column begins Thursday.</p> Media & Marketing Tue, 24 Sep 2013 08:48:32 -0400 Associated Press 1063317986 http://bostonherald.com/business/business_markets/2013/09/futures_mixed_at_budget_fight_simmers <p>NEW YORK — U.S. stock futures are mixed with a confrontation over the budget looming.</p><p>Investors are also getting a better gauge of the housing market Tuesday with a pair of earnings releases, as well as July pricing data from S&amp;P/Case-Shiller and the Federal Housing Finance Agency.</p><p>Dow Jones industrial futures are down 6 points to 15,320. S&amp;P futures have lost 2.2 points to 1,690.50. Nasdaq futures are up 1.25 points to 3,210.25.</p><p>Lennar is reporting a 39 percent spike in quarterly profit on healthy home sales. KB Home reports as well Tuesday.</p> Business & Markets Tue, 24 Sep 2013 08:41:32 -0400 Associated Press 1063318236 http://bostonherald.com/business/business_markets/2013/09/toys_r_us_to_add_45000_seasonal_hires <p>NEW YORK — Toys R Us plans to hire 45,000 seasonal workers at its stores and distribution centers, the same number as last year, as it ramps up for the all-important holiday season.</p> Business & Markets Tue, 24 Sep 2013 07:37:42 -0400 Associated Press 1063317431 http://bostonherald.com/business/business_markets/2013/09/new_zealand_airline_plans_antarctic_ice_landings <p>WELLINGTON, New Zealand — New Zealand's flagship airline plans to fly planes to Antarctica that pilots would land on an ice runway.</p><p>But tourists wanting to travel to the frozen continent will need to keep their hopes in check. The chartered Air New Zealand flights would be for scientists and their support crews, and the airline said Tuesday it has no plans to begin commercial trips.</p><p>Many countries already fly scientists to Antarctica. But those flights are typically run by government or military agencies, or by specialized companies.</p> Business & Markets Tue, 24 Sep 2013 05:25:29 -0400 Associated Press 1063317676 http://bostonherald.com/business/business_markets/2013/09/burger_king_launching_lower_calorie_french_fry <p>NEW YORK — Burger King wants people to feel less guilty about gobbling up its french fries.</p><p>The world's No. 2 hamburger chain is launching a new crinkle-cut french fry on Tuesday that it says has about 20 percent fewer calories than its regular french fries.</p><p>The chain says a small order of the new "Satisfries" clocks in at 270 calories because of a new batter that doesn't absorb as much oil. By comparison, a small order of its regular fries, sans crinkles, has 340 calories.</p> Business & Markets Tue, 24 Sep 2013 01:28:25 -0400 Associated Press 1063317046 http://bostonherald.com/business/real_estate/2013/09/rental_unit_fee_draws_ire_at_city_hall <p>A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316756 http://bostonherald.com/business/technology/technology_news/2013/09/blackberry_sells_to_investor_for_47b <p>Canadian smartphone maker BlackBerry has agreed to sell itself for 
$4.7 billion after failing to turn around a business that floundered despite new phones and a new operating system — in a move by a BlackBerry investor to stabilize the company, experts said.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 1063316776 http://bostonherald.com/business/real_estate/2013/09/new_balance_takes_next_step_in_brighton_transformation <p>New Balance broke ground yesterday on its new world headquarters in Brighton, part of a 14-acre development that city and company officials say could be the start of significant redevelopment in the area.</p><p>The project, called New Brighton Landing, includes a hotel, retail space, office buildings and what New Balance describes as professional-caliber sports facilities. The New Balance facility will get started first, to be followed by the other components.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 
and Richard Weir 1063316861 http://bostonherald.com/business/technology/technology_news/2013/09/massive_gmail_outage_finds_google_off_message <p>Gmail users may be in the market for backup alternatives after Google experienced a massive service outage yesterday that affected millions of users.</p><p>Google first acknowledged a problem at 
10:25 a.m., when its apps status dashboard said the company was investigating reports of "an issue" with Gmail, as well as Google Documents and Google Presentations.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316856 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — Federal regulators announced Monday they are considering slapping a California utility with two violations for problems that eventually led to the permanent closure of the San Onofre nuclear power plant.</p><p>The Nuclear Regulatory Commission said in a report that Southern California Edison failed to identify a flawed design for four replacement steam generators, which led to excessive wear to hundreds of tubes that carried radioactive water.</p> Technology News Mon, 23 Sep 2013 23:03:21 -0400 Associated Press 1063314626 http://bostonherald.com/business/business_markets/2013/09/the_ticker_6 <p><strong>Chrysler files for IPO</strong></p><p>Chrysler Group filed for an initial public offering of stock yesterday.<br />Share price and number to be sold have not been determined. JPMorgan is listed as the investment banker.<br />All the shares to be sold will come from a 41.5 percent stake in Chrysler held by a United Auto Workers retirement trust, the registration document says. The trust wants to cash out so it is liquid enough to pay benefits and not be so heavily invested in a single company.</p> Business & Markets Mon, 23 Sep 2013 22:43:00 -0400 herald.staff 1063317176 http://bostonherald.com/business/business_markets/2013/09/former_qualcomm_exec_charged_with_insider_trading <p>SAN DIEGO — A former senior executive at Qualcomm Inc. made nearly $250,000 in illegal profits from using inside information to buy stock in the wireless technology company and an acquisition target before major public announcements, according to an indictment unsealed Monday.</p> Business & Markets Mon, 23 Sep 2013 20:50:01 -0400 Associated Press 1063315701 http://bostonherald.com/business/business_markets/2013/09/tycoon_plans_8b_chinese_hollywood_studio_complex <p>QINGDAO, China — China's richest man plans to spend 50 billion yuan ($8.2 billion) to build the country's version of Hollywood in the northeastern city of Qingdao.</p><p>In a glitzy, star-studded red carpet event Sunday, Wang Jianlin said his company, Dalian Wanda Group, will build a state-of-the-art film studio complex in a bid to dominate China's rapidly growing movie market.</p> Business & Markets Mon, 23 Sep 2013 20:27:47 -0400 Associated Press 1063313756 http://bostonherald.com/business/business_markets/2013/09/allegiant_1_in_10_tickets_affected_by_md_80_rehab <p>LAS VEGAS — More than one in 10 weekend Allegiant Air passengers were affected by schedule shuffling after the airline grounded its MD-80 fleet for maintenance of emergency exit slides, a company official said Monday.</p><p>After canceling 12 flights on six routes Monday and rescheduling those customers to fly Tuesday, company spokesman Brian Davis said administrators believed the Las Vegas-based airline would eliminate its backlog of flights for at least several days.</p> Business & Markets Mon, 23 Sep 2013 20:15:51 -0400 Associated Press 1063315061 http://bostonherald.com/business/business_markets/2013/09/bank_of_america_told_to_pay_in_discrimination_case <p>CHARLOTTE, N.C. — An administrative law judge with the U.S. Department of Labor has ordered Bank of America to pay black job applicants more than $2 million in back wages and interest to settle a discrimination case.</p><p>A statement from the agency said the Charlotte-based bank applied unfair and inconsistent selection criteria, leading to the rejection of qualified black applicants for teller and entry-level clerical and administrative positions.</p> Business & Markets Mon, 23 Sep 2013 20:07:00 -0400 Associated Press 1063316476 http://bostonherald.com/business/business_markets/2013/09/adm_looking_to_move_longtime_headquarters <p>DECATUR, Ill. — Agribusiness giant Archer Daniels Midland Company said Monday that after 44 years in the small central Illinois city of Decatur, it is looking for a new location for its headquarters with better access to its global customers.</p><p>ADM said it is already considering a list of potential locations for what it's calling its new global headquarters, but doesn't plan to publicly discuss where it could be headed or how long it will take to make the decision. Chicago is among those candidates, city officials said.</p> Business & Markets Mon, 23 Sep 2013 19:59:00 -0400 Associated Press 1063315596 http://bostonherald.com/business/business_markets/2013/09/td_bank_pays_525m_in_charges_tied_to_ponzi_scam <p>WASHINGTON — TD Bank is paying $52.5 million to settle U.S. allegations it failed to report suspicious activity in accounts linked to a $1.2 billion Ponzi scheme and lied about the accounts to investors.</p><p>The Securities and Exchange Commission and the Office of the Comptroller of the Currency announced settlements Monday with the Canadian bank.</p> Business & Markets Mon, 23 Sep 2013 19:38:42 -0400 Associated Press 1063315646 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 17:12:34 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/disney_changing_line_jumping_program_for_disabled <p>ANAHEIM, Calif. — People with disabilities will no longer go straight to the front of lines at Disneyland and Walt Disney World after growing abuse of the system, park officials said.</p><p>Under the change, visitors will be issued tickets with a return time and a shorter wait similar to the FastPass system that's offered to everyone.</p><p>Currently, visitors unable to wait in the regular line can get backdoor access to rides or go through the exit and wait in a shorter line.</p> Business & Markets Mon, 23 Sep 2013 17:08:00 -0400 Associated Press 1063315936 http://bostonherald.com/business/technology/technology_news/2013/09/apples_sales_of_new_iphones_off_to_fast_start <p>SAN FRANCISCO — Gadget lovers still can't resist the iPhone's seductive call, even amid a bevy of enticing lower-priced alternatives that offer similar features.</p><p>In a Monday announcement, Apple Inc. said it sold 9 million units of its top-of-the-line iPhone 5S and less-expensive iPhone 5C during their first three days on sale. That trounced the performance of last year's model, the iPhone 5, which sold 5 million units in its opening weekend.</p> Technology News Mon, 23 Sep 2013 16:36:23 -0400 Associated Press 1063314436

http://bostonherald.com/feed/4 en http://bostonherald.com/business/media_marketing/2013/09/kathie_lee_gifford_hoda_kotb_joining_daily_news <p>NEW YORK &mdash; Kathie Lee Gifford and Hoda Kotb are joining the Daily News as columnists.</p><p>The newspaper says the pair, who host the fourth hour of NBC&#39;s &quot;Today&quot; show, will dispense advice on food and fashion and discuss pop culture.</p><p>Their column begins Thursday.</p> Media & Marketing Tue, 24 Sep 2013 08:48:32 -0400 Associated Press 1063317986 http://bostonherald.com/business/business_markets/2013/09/futures_mixed_at_budget_fight_simmers <p>NEW YORK — U.S. stock futures are mixed with a confrontation over the budget looming.</p><p>Investors are also getting a better gauge of the housing market Tuesday with a pair of earnings releases, as well as July pricing data from S&amp;P/Case-Shiller and the Federal Housing Finance Agency.</p><p>Dow Jones industrial futures are down 6 points to 15,320. S&amp;P futures have lost 2.2 points to 1,690.50. Nasdaq futures are up 1.25 points to 3,210.25.</p><p>Lennar is reporting a 39 percent spike in quarterly profit on healthy home sales. KB Home reports as well Tuesday.</p> Business & Markets Tue, 24 Sep 2013 08:41:32 -0400 Associated Press 1063318236 http://bostonherald.com/business/business_markets/2013/09/toys_r_us_to_add_45000_seasonal_hires <p>NEW YORK — Toys R Us plans to hire 45,000 seasonal workers at its stores and distribution centers, the same number as last year, as it ramps up for the all-important holiday season.</p> Business & Markets Tue, 24 Sep 2013 07:37:42 -0400 Associated Press 1063317431 http://bostonherald.com/business/business_markets/2013/09/new_zealand_airline_plans_antarctic_ice_landings <p>WELLINGTON, New Zealand — New Zealand's flagship airline plans to fly planes to Antarctica that pilots would land on an ice runway.</p><p>But tourists wanting to travel to the frozen continent will need to keep their hopes in check. The chartered Air New Zealand flights would be for scientists and their support crews, and the airline said Tuesday it has no plans to begin commercial trips.</p><p>Many countries already fly scientists to Antarctica. But those flights are typically run by government or military agencies, or by specialized companies.</p> Business & Markets Tue, 24 Sep 2013 05:25:29 -0400 Associated Press 1063317676 http://bostonherald.com/business/business_markets/2013/09/burger_king_launching_lower_calorie_french_fry <p>NEW YORK — Burger King wants people to feel less guilty about gobbling up its french fries.</p><p>The world's No. 2 hamburger chain is launching a new crinkle-cut french fry on Tuesday that it says has about 20 percent fewer calories than its regular french fries.</p><p>The chain says a small order of the new "Satisfries" clocks in at 270 calories because of a new batter that doesn't absorb as much oil. By comparison, a small order of its regular fries, sans crinkles, has 340 calories.</p> Business & Markets Tue, 24 Sep 2013 01:28:25 -0400 Associated Press 1063317046 http://bostonherald.com/business/real_estate/2013/09/rental_unit_fee_draws_ire_at_city_hall <p>A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316756 http://bostonherald.com/business/technology/technology_news/2013/09/blackberry_sells_to_investor_for_47b <p>Canadian smartphone maker BlackBerry has agreed to sell itself for 
$4.7 billion after failing to turn around a business that floundered despite new phones and a new operating system — in a move by a BlackBerry investor to stabilize the company, experts said.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 1063316776 http://bostonherald.com/business/real_estate/2013/09/new_balance_takes_next_step_in_brighton_transformation <p>New Balance broke ground yesterday on its new world headquarters in Brighton, part of a 14-acre development that city and company officials say could be the start of significant redevelopment in the area.</p><p>The project, called New Brighton Landing, includes a hotel, retail space, office buildings and what New Balance describes as professional-caliber sports facilities. The New Balance facility will get started first, to be followed by the other components.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 
and Richard Weir 1063316861 http://bostonherald.com/business/technology/technology_news/2013/09/massive_gmail_outage_finds_google_off_message <p>Gmail users may be in the market for backup alternatives after Google experienced a massive service outage yesterday that affected millions of users.</p><p>Google first acknowledged a problem at 
10:25 a.m., when its apps status dashboard said the company was investigating reports of "an issue" with Gmail, as well as Google Documents and Google Presentations.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316856 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — Federal regulators announced Monday they are considering slapping a California utility with two violations for problems that eventually led to the permanent closure of the San Onofre nuclear power plant.</p><p>The Nuclear Regulatory Commission said in a report that Southern California Edison failed to identify a flawed design for four replacement steam generators, which led to excessive wear to hundreds of tubes that carried radioactive water.</p> Technology News Mon, 23 Sep 2013 23:03:21 -0400 Associated Press 1063314626 http://bostonherald.com/business/business_markets/2013/09/the_ticker_6 <p><strong>Chrysler files for IPO</strong></p><p>Chrysler Group filed for an initial public offering of stock yesterday.<br />Share price and number to be sold have not been determined. JPMorgan is listed as the investment banker.<br />All the shares to be sold will come from a 41.5 percent stake in Chrysler held by a United Auto Workers retirement trust, the registration document says. The trust wants to cash out so it is liquid enough to pay benefits and not be so heavily invested in a single company.</p> Business & Markets Mon, 23 Sep 2013 22:43:00 -0400 herald.staff 1063317176 http://bostonherald.com/business/business_markets/2013/09/former_qualcomm_exec_charged_with_insider_trading <p>SAN DIEGO — A former senior executive at Qualcomm Inc. made nearly $250,000 in illegal profits from using inside information to buy stock in the wireless technology company and an acquisition target before major public announcements, according to an indictment unsealed Monday.</p> Business & Markets Mon, 23 Sep 2013 20:50:01 -0400 Associated Press 1063315701 http://bostonherald.com/business/business_markets/2013/09/tycoon_plans_8b_chinese_hollywood_studio_complex <p>QINGDAO, China — China's richest man plans to spend 50 billion yuan ($8.2 billion) to build the country's version of Hollywood in the northeastern city of Qingdao.</p><p>In a glitzy, star-studded red carpet event Sunday, Wang Jianlin said his company, Dalian Wanda Group, will build a state-of-the-art film studio complex in a bid to dominate China's rapidly growing movie market.</p> Business & Markets Mon, 23 Sep 2013 20:27:47 -0400 Associated Press 1063313756 http://bostonherald.com/business/business_markets/2013/09/allegiant_1_in_10_tickets_affected_by_md_80_rehab <p>LAS VEGAS — More than one in 10 weekend Allegiant Air passengers were affected by schedule shuffling after the airline grounded its MD-80 fleet for maintenance of emergency exit slides, a company official said Monday.</p><p>After canceling 12 flights on six routes Monday and rescheduling those customers to fly Tuesday, company spokesman Brian Davis said administrators believed the Las Vegas-based airline would eliminate its backlog of flights for at least several days.</p> Business & Markets Mon, 23 Sep 2013 20:15:51 -0400 Associated Press 1063315061 http://bostonherald.com/business/business_markets/2013/09/bank_of_america_told_to_pay_in_discrimination_case <p>CHARLOTTE, N.C. — An administrative law judge with the U.S. Department of Labor has ordered Bank of America to pay black job applicants more than $2 million in back wages and interest to settle a discrimination case.</p><p>A statement from the agency said the Charlotte-based bank applied unfair and inconsistent selection criteria, leading to the rejection of qualified black applicants for teller and entry-level clerical and administrative positions.</p> Business & Markets Mon, 23 Sep 2013 20:07:00 -0400 Associated Press 1063316476 http://bostonherald.com/business/business_markets/2013/09/adm_looking_to_move_longtime_headquarters <p>DECATUR, Ill. — Agribusiness giant Archer Daniels Midland Company said Monday that after 44 years in the small central Illinois city of Decatur, it is looking for a new location for its headquarters with better access to its global customers.</p><p>ADM said it is already considering a list of potential locations for what it's calling its new global headquarters, but doesn't plan to publicly discuss where it could be headed or how long it will take to make the decision. Chicago is among those candidates, city officials said.</p> Business & Markets Mon, 23 Sep 2013 19:59:00 -0400 Associated Press 1063315596 http://bostonherald.com/business/business_markets/2013/09/td_bank_pays_525m_in_charges_tied_to_ponzi_scam <p>WASHINGTON — TD Bank is paying $52.5 million to settle U.S. allegations it failed to report suspicious activity in accounts linked to a $1.2 billion Ponzi scheme and lied about the accounts to investors.</p><p>The Securities and Exchange Commission and the Office of the Comptroller of the Currency announced settlements Monday with the Canadian bank.</p> Business & Markets Mon, 23 Sep 2013 19:38:42 -0400 Associated Press 1063315646 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 17:12:34 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/disney_changing_line_jumping_program_for_disabled <p>ANAHEIM, Calif. — People with disabilities will no longer go straight to the front of lines at Disneyland and Walt Disney World after growing abuse of the system, park officials said.</p><p>Under the change, visitors will be issued tickets with a return time and a shorter wait similar to the FastPass system that's offered to everyone.</p><p>Currently, visitors unable to wait in the regular line can get backdoor access to rides or go through the exit and wait in a shorter line.</p> Business & Markets Mon, 23 Sep 2013 17:08:00 -0400 Associated Press 1063315936 http://bostonherald.com/business/technology/technology_news/2013/09/apples_sales_of_new_iphones_off_to_fast_start <p>SAN FRANCISCO — Gadget lovers still can't resist the iPhone's seductive call, even amid a bevy of enticing lower-priced alternatives that offer similar features.</p><p>In a Monday announcement, Apple Inc. said it sold 9 million units of its top-of-the-line iPhone 5S and less-expensive iPhone 5C during their first three days on sale. That trounced the performance of last year's model, the iPhone 5, which sold 5 million units in its opening weekend.</p> Technology News Mon, 23 Sep 2013 16:36:23 -0400 Associated Press 1063314436

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Boston Herald - Boston Herald

http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/futures_mixed_in_very_light_trading <p>NEW YORK — Stock futures are mixed in light trading with little scheduled in the way of corporate earnings or economic indicators.</p><p>Dow Jones industrial futures are down 5 points to 15,398. S&amp;P futures have lost less than a point to 1,701.50. Nasdaq futures are up a point to 3,217.50.</p><p>There was some positive news out of China Monday as a manufacturing survey in the world's second largest economy found that activity rose to a six-month high in August.</p> Business & Markets Mon, 23 Sep 2013 08:24:24 -0400 Associated Press 1063314361 http://bostonherald.com/business/automotive/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Automotive Mon, 23 Sep 2013 07:32:36 -0400 Associated Press 1063314256 http://bostonherald.com/business/technology/technology_news/2013/09/uk_supermarket_tesco_launches_inexpensive_tablet <p>LONDON — Tesco, Britain's largest retailer by sales, is jumping into the competitive market for tablet computers.</p><p>The company says its new Android-operated Hudl tablet will sell for 119 pounds ($190). It will be priced at less than 100 pounds for Tesco Clubcard members.</p><p>Tesco Chief Executive Philip Clarke said Monday the goal is to make it easier for families to get online with a modestly priced device. "The digital revolution should be for the many, not for the few," he said.</p> Technology News Mon, 23 Sep 2013 07:27:16 -0400 Associated Press 1063314246 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear.</p><p>The contracts filed jointly with state utilities regulators by National Grid, Northeast Utilities and Unitil Corp. would buy 565 megawatts of electricity from six planned wind farms in Maine and New Hampshire, enough to power about 170,000 homes.</p> Business & Markets Mon, 23 Sep 2013 06:51:59 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 00:26:53 -0400 Associated Press 1063313656 http://bostonherald.com/business/technology/technology_news/2013/09/new_surface_expected_from_microsoft_at_nyc_event <p>NEW YORK — Microsoft Corp. is expected to announce new Surface tablet computers, including a version with a smaller screen to compete with Google's Nexus 7 and Apple's iPad Mini.</p><p>The company has an announcement event scheduled in New York on Monday.</p> Technology News Mon, 23 Sep 2013 00:05:38 -0400 Associated Press 1063313626 http://bostonherald.com/business/business_markets/2013/09/color_us_meh_on_5c <p>IPhone 5C ($99 for 16GB, $199 for 32GB version, on contract):</p><p>The iPhone 5C is the iPhone 5 dressed up in five bright new color options, with a rounded plastic casing to complete this new look.</p><p><b>The Good: </b>Apple declared its new iPhone 5C as "beautifully, unapologetically plastic." And it is. Its rounded edges actually sit more comfortably in the palm than its predecessor, the sharp-cornered 5, and its exterior twin, the new 5S.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 herald.staff 1063313071 http://bostonherald.com/business/business_markets/2013/09/on_the_surface_seaport_boom_makes_parking_more_difficult <p>Booming Seaport District development comes at a price for South Boston waterfront and Financial District workers who park in the evaporating sea of surface lots there.</p><p>Construction projects have resulted in the loss of 630-plus parking spots since last November, and 160 more will soon be added to the list.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 Donna Goodison 1063313106 http://bostonherald.com/business/technology/technology_news/2013/09/iphone_5s_game_but_no_game_changer <p>At first blush, the iPhone 5S looks virtually identical to its predecessor, the iPhone 5. Apple's midcycle "S" upgrades are reserved for iterative changes. So while owners of the 5 might find themselves a bit let-down by Apple's promise that this new smartphone is its "most forward-thinking," consumers can rest assured that this is surely Apple's best iPhone to date.</p> Technology News Mon, 23 Sep 2013 00:00:00 -0400 Jessica Van Sack, Booting Up 1063313051 http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece resumed talks with its creditors to review progress in stabilizing the indebted country's finances.</p><p>Finance Minister Yannis Stournaras met for more than four hours Sunday with representatives of the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund. At stake is the continuation of the financing of Greece by the creditors, including a €1 billion ($1.35 billion) bailout installment to be paid in October.</p> Business & Markets Sun, 22 Sep 2013 17:24:56 -0400 Associated Press 1063310511 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced navigation system trouble Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p> Technology News Sun, 22 Sep 2013 13:59:59 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>"Where there is no work, there is no dignity," he said.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 13:19:58 -0400 Associated Press 1063310211 http://bostonherald.com/business/technology/technology_news/2013/09/tests_new_iphones_less_durable_than_iphone_5 <p>NEW YORK — As Apple pitches its newest smartphones, users may find something lacking compared with last year's model: They could break more easily.</p><p>SquareTrade, a provider of protection plans for gadgets, tested five smartphones, including Apple's new iPhones, to see if they could withstand drops, dunks and other common hazards. Its finding: The latest models aren't as durable as last year's iPhone 5.</p> Technology News Sun, 22 Sep 2013 13:12:01 -0400 Associated Press 1063311426 http://bostonherald.com/business/business_markets/2013/09/ap_records_show_maine_gov_tried_to_jam_wind_plan <p>AUGUSTA, Maine — Before its public push to have Maine reconsider wind energy proposals, Gov. Paul LePage's administration worked behind the scenes to explicitly derail Norwegian company Statoil's multimillion-dollar agreement with the state for an offshore wind project, according to documents obtained by The Associated Press.</p> Business & Markets Sun, 22 Sep 2013 12:16:28 -0400 Associated Press 1063310861 http://bostonherald.com/business/technology/technology_news/2013/09/casinos_tap_intelligence_network_to_beat_cheaters <p>UNCASVILLE, Conn. — The man at the poker table had a ball cap pulled down almost to his nose, but his glance up at a television screen revealed a familiar face to Mohegan Sun's surveillance cameras: A photograph of the known card cheater had been sent by bulletin to casinos around the country.</p><p>Within hours, the bettor was arrested, accused of marking cards with invisible ink.</p><p>"The officer who identified him, basically she had a 'Holy crap!' moment," said Jay Lindroos, the casino's surveillance director. "She saw the face and said, 'I recognize that guy!'"</p> Technology News Sun, 22 Sep 2013 11:11:22 -0400 Associated Press 1063310971 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed several agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 10:22:01 -0400 Associated Press 1063310456 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511

http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/futures_mixed_in_very_light_trading <p>NEW YORK — Stock futures are mixed in light trading with little scheduled in the way of corporate earnings or economic indicators.</p><p>Dow Jones industrial futures are down 5 points to 15,398. S&amp;P futures have lost less than a point to 1,701.50. Nasdaq futures are up a point to 3,217.50.</p><p>There was some positive news out of China Monday as a manufacturing survey in the world's second largest economy found that activity rose to a six-month high in August.</p> Business & Markets Mon, 23 Sep 2013 08:24:24 -0400 Associated Press 1063314361 http://bostonherald.com/business/automotive/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Automotive Mon, 23 Sep 2013 07:32:36 -0400 Associated Press 1063314256 http://bostonherald.com/business/technology/technology_news/2013/09/uk_supermarket_tesco_launches_inexpensive_tablet <p>LONDON — Tesco, Britain's largest retailer by sales, is jumping into the competitive market for tablet computers.</p><p>The company says its new Android-operated Hudl tablet will sell for 119 pounds ($190). It will be priced at less than 100 pounds for Tesco Clubcard members.</p><p>Tesco Chief Executive Philip Clarke said Monday the goal is to make it easier for families to get online with a modestly priced device. "The digital revolution should be for the many, not for the few," he said.</p> Technology News Mon, 23 Sep 2013 07:27:16 -0400 Associated Press 1063314246 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear.</p><p>The contracts filed jointly with state utilities regulators by National Grid, Northeast Utilities and Unitil Corp. would buy 565 megawatts of electricity from six planned wind farms in Maine and New Hampshire, enough to power about 170,000 homes.</p> Business & Markets Mon, 23 Sep 2013 06:51:59 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 00:26:53 -0400 Associated Press 1063313656 http://bostonherald.com/business/technology/technology_news/2013/09/new_surface_expected_from_microsoft_at_nyc_event <p>NEW YORK — Microsoft Corp. is expected to announce new Surface tablet computers, including a version with a smaller screen to compete with Google's Nexus 7 and Apple's iPad Mini.</p><p>The company has an announcement event scheduled in New York on Monday.</p> Technology News Mon, 23 Sep 2013 00:05:38 -0400 Associated Press 1063313626 http://bostonherald.com/business/business_markets/2013/09/color_us_meh_on_5c <p>IPhone 5C ($99 for 16GB, $199 for 32GB version, on contract):</p><p>The iPhone 5C is the iPhone 5 dressed up in five bright new color options, with a rounded plastic casing to complete this new look.</p><p><b>The Good: </b>Apple declared its new iPhone 5C as "beautifully, unapologetically plastic." And it is. Its rounded edges actually sit more comfortably in the palm than its predecessor, the sharp-cornered 5, and its exterior twin, the new 5S.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 herald.staff 1063313071 http://bostonherald.com/business/business_markets/2013/09/on_the_surface_seaport_boom_makes_parking_more_difficult <p>Booming Seaport District development comes at a price for South Boston waterfront and Financial District workers who park in the evaporating sea of surface lots there.</p><p>Construction projects have resulted in the loss of 630-plus parking spots since last November, and 160 more will soon be added to the list.</p> Business & Markets Mon, 23 Sep 2013 00:00:00 -0400 Donna Goodison 1063313106 http://bostonherald.com/business/technology/technology_news/2013/09/iphone_5s_game_but_no_game_changer <p>At first blush, the iPhone 5S looks virtually identical to its predecessor, the iPhone 5. Apple's midcycle "S" upgrades are reserved for iterative changes. So while owners of the 5 might find themselves a bit let-down by Apple's promise that this new smartphone is its "most forward-thinking," consumers can rest assured that this is surely Apple's best iPhone to date.</p> Technology News Mon, 23 Sep 2013 00:00:00 -0400 Jessica Van Sack, Booting Up 1063313051 http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece resumed talks with its creditors to review progress in stabilizing the indebted country's finances.</p><p>Finance Minister Yannis Stournaras met for more than four hours Sunday with representatives of the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund. At stake is the continuation of the financing of Greece by the creditors, including a €1 billion ($1.35 billion) bailout installment to be paid in October.</p> Business & Markets Sun, 22 Sep 2013 17:24:56 -0400 Associated Press 1063310511 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced navigation system trouble Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p> Technology News Sun, 22 Sep 2013 13:59:59 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>"Where there is no work, there is no dignity," he said.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 13:19:58 -0400 Associated Press 1063310211 http://bostonherald.com/business/technology/technology_news/2013/09/tests_new_iphones_less_durable_than_iphone_5 <p>NEW YORK — As Apple pitches its newest smartphones, users may find something lacking compared with last year's model: They could break more easily.</p><p>SquareTrade, a provider of protection plans for gadgets, tested five smartphones, including Apple's new iPhones, to see if they could withstand drops, dunks and other common hazards. Its finding: The latest models aren't as durable as last year's iPhone 5.</p> Technology News Sun, 22 Sep 2013 13:12:01 -0400 Associated Press 1063311426 http://bostonherald.com/business/business_markets/2013/09/ap_records_show_maine_gov_tried_to_jam_wind_plan <p>AUGUSTA, Maine — Before its public push to have Maine reconsider wind energy proposals, Gov. Paul LePage's administration worked behind the scenes to explicitly derail Norwegian company Statoil's multimillion-dollar agreement with the state for an offshore wind project, according to documents obtained by The Associated Press.</p> Business & Markets Sun, 22 Sep 2013 12:16:28 -0400 Associated Press 1063310861 http://bostonherald.com/business/technology/technology_news/2013/09/casinos_tap_intelligence_network_to_beat_cheaters <p>UNCASVILLE, Conn. — The man at the poker table had a ball cap pulled down almost to his nose, but his glance up at a television screen revealed a familiar face to Mohegan Sun's surveillance cameras: A photograph of the known card cheater had been sent by bulletin to casinos around the country.</p><p>Within hours, the bettor was arrested, accused of marking cards with invisible ink.</p><p>"The officer who identified him, basically she had a 'Holy crap!' moment," said Jay Lindroos, the casino's surveillance director. "She saw the face and said, 'I recognize that guy!'"</p> Technology News Sun, 22 Sep 2013 11:11:22 -0400 Associated Press 1063310971 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed several agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 10:22:01 -0400 Associated Press 1063310456 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511

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http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece has resumed talks with the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund — to review progress in stabilizing the indebted country's finances.</p> Business & Markets Sun, 22 Sep 2013 08:57:34 -0400 Associated Press 1063310511 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed various agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 08:55:06 -0400 Associated Press 1063310456 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced trouble with a computer data link Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p><p>The Virginia-based company said it is working on a software repair, but it will be at least two more days until another approach is attempted.</p> Technology News Sun, 22 Sep 2013 07:17:08 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money over man as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 05:33:21 -0400 Associated Press 1063310211 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511 http://bostonherald.com/business/business_markets/2013/09/west_hollywood_institutes_nations_first_fur_ban <p>WEST HOLLYWOOD, Calif. — West Hollywood is now the only city in America where it's a crime to sell fur apparel.</p><p>The Los Angeles Times reports that after years of debate, the ban took effect Saturday.</p><p>It only applies to apparel that's made to be worn, such as shoes, hats and gloves. Ugg boots can't be sold because they contain shearling, a sheepskin or lambskin pelt that's had limited shearing.</p><p>The Southern California city calls itself a cruelty-free zone for animals and is famous for animal-friendly laws.</p> Business & Markets Sat, 21 Sep 2013 15:11:44 -0400 Associated Press 1063306406 http://bostonherald.com/business/business_markets/2013/09/chiquita_seeks_dismissal_in_colombian_case <p>MIAMI — Faced with potentially billions of dollars in legal liability, Chiquita Brands International is asking a federal appeals court to block lawsuits filed against it in the U.S. by thousands of Colombians whose relatives were killed in that country's bloody, decades-long civil war.</p> Business & Markets Sat, 21 Sep 2013 13:57:43 -0400 Associated Press 1063305776 http://bostonherald.com/business/business_markets/2013/09/russia_warns_ukraine_against_eu_deal <p>YALTA, Ukraine — A top Russian official on Saturday warned Ukraine against signing a landmark trade and cooperation agreement with the European Union, saying Moscow would retaliate with trade restrictions that could push this ex-Soviet republic toward default.</p> Business & Markets Sat, 21 Sep 2013 11:10:22 -0400 Associated Press 1063305806 http://bostonherald.com/business/business_markets/2013/09/gunmans_employer_sought_navy_consulting_work <p>WASHINGTON — A little more than 24 hours after an IT contractor shot dozen workers at the Washington Navy Yard, the company's CEO told the Navy secretary he had the experience to help improve military security.</p><p>The email from The Experts chief Thomas Hoshko, which included descriptions of his background and expertise, stunned some Navy leaders in the wake of the shootings Monday that left 13 people dead, including the gunman, former Navy reservist Aaron Alexis.</p> Business & Markets Sat, 21 Sep 2013 11:03:33 -0400 Associated Press 1063305866 http://bostonherald.com/business/business_markets/2013/09/microloans_surging_in_silicon_valley <p>SAN JOSE, Calif. — A daycare provider needed cribs and high chairs. A coffee truck needed a generator. A couple renting party supplies needed to move into a storefront.</p><p>When these Silicon Valley small businesses needed cash, and fast, they didn't find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer.</p><p>Microlending, a decades old form of financing for the world's poorest, is now booming in Silicon Valley.</p> Business & Markets Sat, 21 Sep 2013 10:51:07 -0400 Associated Press 1063305801 http://bostonherald.com/business/business_markets/2013/09/uk_charges_4_in_cyber_theft_from_barclays_bank <p>LONDON — British police have charged four men in connection with the theft of 1.3 million pounds ($2.1 million) from a Barclays Bank branch.</p><p>The men — aged between 26 and 47 — were arrested Friday and accused of installing a device on the bank's computer system made it possible to carry out the cyber theft.</p><p>Police said cash, jewels and thousands of credit cards were found in related searches of addresses in the greater London area.</p> Business & Markets Sat, 21 Sep 2013 04:59:08 -0400 Associated Press 1063305441 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531 http://bostonherald.com/business/automotive/2013/09/magnificent_jag_is_a_treat_for_all <p>It's the chicken or the egg conundrum: Do you want to be the driver of the sleek 2013 Jaguar XJL or the passenger in the elegant cabin?</p><p>The long wheelbase of the XJL affords rear passengers a playground of luxurious creature comforts. Start with the reclining soft leather seats, drop-down glass trays and personal remote controls for the headrest-mounted entertainment centers. Add a whisper-quiet ride, a footrest to leisurely stretch out your legs, cooled and heated massaging seats and you arrive at work or the weekend estate in style.</p> Automotive Sat, 21 Sep 2013 00:00:00 -0400 Jim Mahoney 1063304386 http://bostonherald.com/business/business_markets/2013/09/pipe_had_leak_1_year_before_hawaii_molasses_spill <p>HONOLULU — A state inspector saw molasses dripping last year from the same spot where a pipe leaked up to 1,400 tons of the sugary substance into Honolulu Harbor earlier this month, killing more than 26,000 fish and other marine life.</p><p>Department of Transportation Deputy Director Randy Grune said Friday he sent a letter in July 2012 to Matson Navigation Co. notifying the company of the leak. The letter, provided to reporters Friday, asked Matson to tell the state when the pipeline was repaired.</p> Business & Markets Fri, 20 Sep 2013 22:27:32 -0400 Associated Press 1063303856

http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/greece_resumes_talks_with_its_creditors <p>ATHENS, Greece — Greece has resumed talks with the so-called troika of creditors — the European Commission, the European Central Bank and the International Monetary Fund — to review progress in stabilizing the indebted country's finances.</p> Business & Markets Sun, 22 Sep 2013 08:57:34 -0400 Associated Press 1063310511 http://bostonherald.com/business/business_markets/2013/09/venezuelas_president_in_china_signs_agreements <p>BEIJING — China and Venezuela signed various agreements Sunday during a visit by the Venezuelan president that is meant to strengthen economic ties between the South American nation and its leading creditor.</p><p>President Nicolas Maduro told his Chinese counterpart, Xi Jinping, that the main goal of his trip was to further consolidate and expand the strategic partnership between the two countries that late President Hugo Chavez began with Chinese leaders. Chavez died in March after 14 years in power.</p> Business & Markets Sun, 22 Sep 2013 08:55:06 -0400 Associated Press 1063310456 http://bostonherald.com/business/technology/technology_news/2013/09/computer_mishap_delays_space_station_supply_ship <p>CAPE CANAVERAL, Fla. — A brand new commercial cargo ship making its orbital debut experienced trouble with a computer data link Sunday, and its arrival at the International Space Station was delayed at least two days.</p><p>The rendezvous was aborted less than six hours before the scheduled arrival of Orbital Sciences Corp.'s Cygnus capsule, packed with 1,300 pounds of food and clothes for the space station crew.</p><p>The Virginia-based company said it is working on a software repair, but it will be at least two more days until another approach is attempted.</p> Technology News Sun, 22 Sep 2013 07:17:08 -0400 Associated Press 1063310376 http://bostonherald.com/business/business_markets/2013/09/pope_offers_hope_to_sardinias_poor_unemployed <p>CAGLIARI, Sardinia — Pope Francis denounced what he called big business's idolatry of money over man as he traveled Sunday to one of Italy's poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.</p><p>Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia's capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.</p> Business & Markets Sun, 22 Sep 2013 05:33:21 -0400 Associated Press 1063310211 http://bostonherald.com/business/business_markets/2013/09/co_shows_how_garden_grows <p>Before this fall, Samantha Swanick had eaten vegetables many times, but the 8-year-old had never thought she would actually grow one.</p><p>"After a few days, you can see them get bigger and bigger," she said Friday at Centerville Elementary School in Beverly, where she and other third-graders carefully tend to three, raised-bed, organic vegetable gardens each week. "You have to put the tall stuff like tomatoes in the back and the small stuff in the front so all of them can have sun and grow. I like the lettuce."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063308361 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_a_record_65b_fundraising_campaign <p>Harvard University launched a $6.5 billion fundraising campaign yesterday, an effort that — if successful — will be the biggest fundraiser ever in higher education and will allow the Cambridge university to expand its mission, the university said.</p><p>"No institution of higher education has a more exciting opportunity for innovative growth," Harvard President Drew Gilpin Faust told an audience of university officials, alumni and donors. "This campaign must help us support the structures and modes of academic inquiry."</p> Business & Markets Sun, 22 Sep 2013 00:00:00 -0400 Jordan Graham 1063308471 http://bostonherald.com/business/business_markets/2013/09/harvard_launches_65_billion_capital_campaign <p>BOSTON — Harvard University launched a $6.5 billion capital campaign Saturday that, if successful, would be the largest fundraising effort in the history of higher education.</p><p>The school said the campaign had broad goals spanning all its schools and would fund research into neuroscience, stem cell science and low-cost energy for the developing world.</p><p>The campaign would target major renovations of the university's undergraduate housing and increase its study of new learning and teaching strategies.</p> Business & Markets Sat, 21 Sep 2013 19:02:35 -0400 Associated Press 1063306361 http://bostonherald.com/business/business_markets/2013/09/wal_mart_driver_honored_for_4_million_accident_free_miles <p>LITTLE ROCK, Ark. — A long-distance truck driver for Wal-Mart has been recognized for traveling 4 million miles without an accident.</p><p>Warren Greeno of Loveland, Colo., reached the milestone this year. Today, Wal-Mart executives in Arkansas presented him with a new rig painted red.</p><p>The 59-year-old rolled up the mileage over 31 years and four months, an average of about 500 miles each working day.</p><p>Greeno said in an interview this week that there were half-dozen near-collisions. He said he waited for "the thump and the crash" but they never came.</p> Business & Markets Sat, 21 Sep 2013 15:49:52 -0400 Associated Press 1063306511 http://bostonherald.com/business/business_markets/2013/09/west_hollywood_institutes_nations_first_fur_ban <p>WEST HOLLYWOOD, Calif. — West Hollywood is now the only city in America where it's a crime to sell fur apparel.</p><p>The Los Angeles Times reports that after years of debate, the ban took effect Saturday.</p><p>It only applies to apparel that's made to be worn, such as shoes, hats and gloves. Ugg boots can't be sold because they contain shearling, a sheepskin or lambskin pelt that's had limited shearing.</p><p>The Southern California city calls itself a cruelty-free zone for animals and is famous for animal-friendly laws.</p> Business & Markets Sat, 21 Sep 2013 15:11:44 -0400 Associated Press 1063306406 http://bostonherald.com/business/business_markets/2013/09/chiquita_seeks_dismissal_in_colombian_case <p>MIAMI — Faced with potentially billions of dollars in legal liability, Chiquita Brands International is asking a federal appeals court to block lawsuits filed against it in the U.S. by thousands of Colombians whose relatives were killed in that country's bloody, decades-long civil war.</p> Business & Markets Sat, 21 Sep 2013 13:57:43 -0400 Associated Press 1063305776 http://bostonherald.com/business/business_markets/2013/09/russia_warns_ukraine_against_eu_deal <p>YALTA, Ukraine — A top Russian official on Saturday warned Ukraine against signing a landmark trade and cooperation agreement with the European Union, saying Moscow would retaliate with trade restrictions that could push this ex-Soviet republic toward default.</p> Business & Markets Sat, 21 Sep 2013 11:10:22 -0400 Associated Press 1063305806 http://bostonherald.com/business/business_markets/2013/09/gunmans_employer_sought_navy_consulting_work <p>WASHINGTON — A little more than 24 hours after an IT contractor shot dozen workers at the Washington Navy Yard, the company's CEO told the Navy secretary he had the experience to help improve military security.</p><p>The email from The Experts chief Thomas Hoshko, which included descriptions of his background and expertise, stunned some Navy leaders in the wake of the shootings Monday that left 13 people dead, including the gunman, former Navy reservist Aaron Alexis.</p> Business & Markets Sat, 21 Sep 2013 11:03:33 -0400 Associated Press 1063305866 http://bostonherald.com/business/business_markets/2013/09/microloans_surging_in_silicon_valley <p>SAN JOSE, Calif. — A daycare provider needed cribs and high chairs. A coffee truck needed a generator. A couple renting party supplies needed to move into a storefront.</p><p>When these Silicon Valley small businesses needed cash, and fast, they didn't find help at a bank. They turned instead to a type of financing more commonly associated with buying a sewing machine for a Guatemalan tailor or a tractor for an African farmer.</p><p>Microlending, a decades old form of financing for the world's poorest, is now booming in Silicon Valley.</p> Business & Markets Sat, 21 Sep 2013 10:51:07 -0400 Associated Press 1063305801 http://bostonherald.com/business/business_markets/2013/09/uk_charges_4_in_cyber_theft_from_barclays_bank <p>LONDON — British police have charged four men in connection with the theft of 1.3 million pounds ($2.1 million) from a Barclays Bank branch.</p><p>The men — aged between 26 and 47 — were arrested Friday and accused of installing a device on the bank's computer system made it possible to carry out the cyber theft.</p><p>Police said cash, jewels and thousands of credit cards were found in related searches of addresses in the greater London area.</p> Business & Markets Sat, 21 Sep 2013 04:59:08 -0400 Associated Press 1063305441 http://bostonherald.com/business/business_markets/2013/09/bay_state_defense_firms_get_work_despite_cuts <p>Massachusetts companies that work with the U.S. Defense Department are still getting contracts in spite of federal budget cuts, but the firms say those contracts tend to be smaller.</p><p>The Defense Department this week announced more than $865 million in contracts, including $9.9 million to Boston Dynamics of Waltham for work on the Legged Squad Support System, or LS3, a legged robot to help service members carry their gear, following them through rugged terrain and interpreting verbal and visual commands.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063304391 http://bostonherald.com/business/real_estate/2013/09/cambridge_penthouse_could_be_your_castle <p>This four-bedroom duplex penthouse condo, the home of former Channel 4 meteorologist Mish Michaels, features a dramatic sweeping staircase that joins what were two separate units.</p><p>Part of the 113-unit Bay Square condo complex built in 1989, Michaels and her husband, Wes Atamian, combined two units in 2006 to create a showpiece custom-designed penthouse highlighted by a dramatic two-story vaulted turret with a living area overlooking a great room connected by a curving metal staircase.</p> Real Estate Sat, 21 Sep 2013 00:00:00 -0400 Paul Restuccia 1063304401 http://bostonherald.com/business/business_markets/2013/09/mit_study_us_needs_to_step_up_manufacturing <p>The nation's booming innovation economy is in danger of losing steam and moving overseas unless there is a significant increase in manufacturing in the U.S., according to a new study from the Massachusetts Institute of Technology, but Massachusetts is poised to take advantage of such an increase, a state official says.</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Jordan Graham 1063304411 http://bostonherald.com/business/business_markets/2013/09/colonial_drug_departs_from_harvard_square <p>Another vestige of the much lamented Harvard Square of old will close its doors today.</p><p>Colonial Drug, known for its stock of more than 1,000 fragrances, is relocating after 66 years on Brattle Street to combine with the Stoddard's cutlery store in Newton at month's end.</p><p>"We did business with (Stoddard's owner David Marks') father, and his grandfather did business with our father," co-owner J.P. Botindari said. "We said someday we should get together, and we are. We complement each other."</p> Business & Markets Sat, 21 Sep 2013 00:00:00 -0400 Donna Goodison 1063304531 http://bostonherald.com/business/automotive/2013/09/magnificent_jag_is_a_treat_for_all <p>It's the chicken or the egg conundrum: Do you want to be the driver of the sleek 2013 Jaguar XJL or the passenger in the elegant cabin?</p><p>The long wheelbase of the XJL affords rear passengers a playground of luxurious creature comforts. Start with the reclining soft leather seats, drop-down glass trays and personal remote controls for the headrest-mounted entertainment centers. Add a whisper-quiet ride, a footrest to leisurely stretch out your legs, cooled and heated massaging seats and you arrive at work or the weekend estate in style.</p> Automotive Sat, 21 Sep 2013 00:00:00 -0400 Jim Mahoney 1063304386 http://bostonherald.com/business/business_markets/2013/09/pipe_had_leak_1_year_before_hawaii_molasses_spill <p>HONOLULU — A state inspector saw molasses dripping last year from the same spot where a pipe leaked up to 1,400 tons of the sugary substance into Honolulu Harbor earlier this month, killing more than 26,000 fish and other marine life.</p><p>Department of Transportation Deputy Director Randy Grune said Friday he sent a letter in July 2012 to Matson Navigation Co. notifying the company of the leak. The letter, provided to reporters Friday, asked Matson to tell the state when the pipeline was repaired.</p> Business & Markets Fri, 20 Sep 2013 22:27:32 -0400 Associated Press 1063303856

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