Pregnant women gain new options under health law

WASHINGTON — The health care law has opened up a new opportunity for some mothers-to-be to save on medical bills for childbirth.

Lower-income women who signed up for a private policy in the new insurance exchanges will have access to additional coverage from their state's Medicaid program if they get pregnant.

Some women could save hundreds of dollars on their share of hospital and doctor bills.

Medicaid already pays for nearly half of U.S. births, but this adds another dimension to the safety-net program.

Officials and advocates say the enhanced coverage will be available across the country, whether or not a state expands Medicaid under the health law.

The main roadblock right now seems to be logistical: reprogramming state and federal computer systems to process the new benefit.

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Southie’s D St. to have big outdoor arts space

A no-man's-land stretch of D Street in South Boston will be transformed into an interim outdoor space that could be used for art installations, concerts, pop-up restaurants — even Major League Bocce — under a $1.1 million plan the Massachusetts Convention Center Authority has approved.

The so-called "D Street Laboratory" will open in late July or early August on approximately two acres across from the Aloft and Element hotels, which are scheduled to open by the end of next year, said Terence Burke, an authority spokesman.

"This is an eyes-wide-open experiment," Howard Davis, director of capital projects, said at an MCCA board meeting yesterday.

The authority is paying HR&A Advisors $200,000 for the concept and the design, and Chris Wangro, another New York consultant, $50,000 to develop programming for the space.

Potential local partners include the Institute of Contemporary Art, Major League Bocce, Artists for Humanity, Make Music Boston and the deCordova Sculpture Park and Museum, Wangro said.

The building of the "Lab" will fulfill a commitment to South Boston left over from the construction of the Boston Convention and Exhibition Center, Burke said in an email.

The space will be a walkable connection to and from the BCEC, D Street and the hotels, as required under an agreement the MCCA has with their developer, he said.

The lab also will provide convention center users and the broader Boston community with the chance to try some outdoor concepts that might be integrated into the final design of the BCEC's proposed $1 billion expansion, Burke said.

"The plan is to operate the space for 18 to 24 months, try some things ... and then make some decisions about how to make it permanent as part of the expansion program," which the Legislature has yet to vote on, he said.

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Property of Hub Ponzi schemers will be sold off

The property of a convicted West Roxbury Ponzi schemer and his wife will be sold to recoup some of their $9.77 million in debt, the majority of which is owed to swindled clients.

Steven Palladino is at MCI-Cedar Junction in Walpole after being sentenced in January to 10 to 12 years. He, his wife and son were ordered to pay restitution for convincing at least 33 people to loan Viking Financial Group millions of dollars with the promise of high returns that were never delivered.

Palladino and his wife, Lori, filed for bankruptcy last month, and Viking Financial followed suit last week. The Palladinos listed $1.15 million in assets and $9.77 million in debt.

"Anything having to do with the financial condition and the history of the financial dealings will be investigated by us," said Mark G. DeGiacomo, the court-appointed trustee overseeing the cases. The Palladinos' lawyer could not be reached for comment.

It's "way too early" to say whether defrauded clients will recoup any money, he said. Secured claims typically are first in line for distributions and total at least $304,929.

The Palladinos' cars likely will be auctioned next month. Court documents in the U.S. Security and Exchange Commission case against Steven Palladino and Viking Financial list a 2012 Mercedes, 2011 BMW, 2013 Audi, 2012 Range Rover, 1992 Chevy Corvette and 2004 F350 truck.

The Palladinos own homes in Roslindale and West Roxbury and a vacant West Roxbury lot assessed at a combined $1.09 million, and two time shares valued at $25,000, according to court documents.

The U.S. Attorney's Office in April charged Steven Palladino with 25 counts of criminal contempt for allegedly flouting an asset freeze and other court orders. He is accused of "lavish spending" and incurring thousands of dollars in credit card charges.

The Palladinos owe tens of thousands of dollars in credit card debt in addition to $1,627 to Best Buy, $1,300 to Bloomingdales and $1,364 to Neiman Marcus, court documents state.

The couple claimed $70,000 in jewelry, and just $25 in cash and $150 in a checking account, but $613,379 has been held in a bank account with the Boston Police listed as trustee.

Palladino participated in the first meeting of his creditors by telephone from prison. "Some of the investors that were at the meeting had some questions," DeGiacomo said. "Not the 'why?' (or) 'how could you do this?' It was more ... just trying to figure out where the money went and where the assets are."

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Republicans highlight jobs bills in weekly address

WASHINGTON — House Republicans say President Barack Obama and Senate Democrats should match their focus on bills designed to promote jobs.

In the weekly Republican radio and Internet address, House Republicans list more than a dozen bills that have passed the GOP-controlled House with the goal of improving the economy.

The bills they cite include those changing welfare regulations, offering more job training and education, curtailing patent litigation, scaling back regulations for small-business owners and building the Keystone XL pipeline.

The chairman of the House Education and Workforce Committee, congressman John Kline of Minnesota, says more legislation is in the works.

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Online:

Republican address: http://www.speaker.gov/

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Dynamic duo: The success of Jimmy Iovine, Dr. Dre

NEW YORK — They truly are marching to the beat of their own drum.

It's as though anything Jimmy Iovine and Dr. Dre touches turns to gold: The dynamic duo marked epic-level success when they introduced Eminem to the music world 15 years ago, and their lucrative Beats by Dre business reached blockbuster heights following reports that Apple plans to buy the headphones' parent company, Beats Electronics, for $3.2 billion.

But the music industry veterans have had a string of triumphs, and we take a look at why we never seem to never forget about Dre and Iovine.

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STARTED FROM THE BOTTOM

Well, not necessarily the bottom, but Iovine kicked off his career behind the scenes. He was a recording engineer in the 1970s who mixed albums such as Bruce Springsteen's "Born to Run." He later upgraded to producer, working with revered icons from Tom Petty to U2 to Stevie Nicks. Springsteen says it best in the song "Ain't Good Enough for You," singing: "And babe I tried to make the latest scene, hitting cool just like Jimmy Iovine."

Dre, too, started as a producer, but it was for N.W.A., the hip-hop group he was a member of alongside Eazy-E and Ice Cube. The West Coast-based rappers made their stance in hip-hop culture and music history in the late '80s with controversial lyrics and edge, and Dre followed that with his own solo work that topped the charts. Dre is also responsible for bringing forth rap king Snoop Dogg, rap king Eminem, rap king 50 Cent and rising rap prince Kendrick Lamar. Outside of those acts, beats by Dre — literally — include tracks like Tupac's classic "California Love," Eve and Gwen Stefani's Grammy-winning "Let Me Blow Ya Mind" and Mary J. Blige's only song to hit No. 1, the party jam "Family Affair."

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BEATING THE OTHERS WITH BEATS

Many celebrities and musicians have launched headphones lines, from 50 Cent to Quincy Jones to Jay Z, but no one has come close to Beats by Dre, even before Apple's billion-dollar acquisition. The brand, which debuted in 2008, brought new life to the headphone industry, reinvented the way people listen to music and revived how earphones could make a fashion statement. Dr. Dre is a doctor in the music industry, and Iovine is as needed as an IV.

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HI, MY NAME IS...

It's hard to imagine the world of entertainment — or Emtertainment for that matter — without thinking of Eminem, one of the ultra-successful members of pop culture. And part of his victory comes from his team: Iovine and Dre have been behind the Detroit icon since he emerged with brash raps and an energy that was both dominating and enticing. From the Oscar-winning "8 Mile" to multiple multiplatinum albums to an influence on today's musicians and music lovers, Eminem is a musical virtuoso and praise should also go to his guardian angels.

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STILL GOING STRONG

Iovine, who co-founded Interscope Records, is the chairman of Interscope Geffen A&M, where the roster includes U2, Madonna, Robin Thicke, the Black Eyed Peas, Maroon 5 and Lady Gaga, who released a line of headphones via Beats by Dre.

Dre, whose upcoming album "Detox" has been anticipated for a decade, has mentored Lamar, a fellow Compton rapper who had a breakthrough last year with his platinum-selling debut album, "good kid, m.A.A.d city," which was nominated for album of the year at the Grammy Awards this year.

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Online:

http://www.beatsbydre.com/

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Follow Mesfin Fekadu at twitter.com/MusicMesfin

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Foreclosures soar in March

Massachusetts foreclosure petitions took a sharp year-over-year turn up in March, ending 16 consecutive months of decline in petition filings, according to The Warren Group.

"The increase in percentage terms seems enormous, almost as though the flood gates have been thrown wide open," Timothy M. Warren, CEO of the market tracker, said in a podcast. "However, I see a number of reasons to be cautious about turning up the volume on the alarm quite yet."

In March 2013, only 283 foreclosure petitions were filed, which was 83 percent below the prior March, and much lower than February 2013, Warren said.

"So I'm going to suggest that perhaps March of last year was the real outlier in the data trends, more so than March of 2014," he said. "Nevertheless, 660 petitions filed in March of this year do represent a big increase in the current trend. For example, it is 50 percent higher than February."

Lenders are getting more aggressive with delinquent borrowers, Warren said.

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Stocks subdued as China data, Ukraine weighed

TOKYO — Global stock markets were subdued Friday, with investors weighing a fall in Chinese inflation and renewed jitters about Ukraine as pro-Russian militants pressed ahead with plans for an independence referendum.

China's inflation eased in April to 1.8 percent in a mixed message for investors. The drop in inflation gives Beijing more leeway to stimulate the slowing Chinese economy if needed, but also underlines that domestic demand is weak.

Ukraine continued to loom large for investors. Insurgents in the country's east are preparing for a weekend referendum on independence, a vote similar to the plebiscite that paved the way for Moscow's annexation of Crimea in March. Preparations have continued despite a call by Russian President Vladimir Putin to put off the vote amid negotiations with the West over Ukraine's future.

European shares opened lower, with Britain's FTSE 100 down 0.4 percent to 6,811.88. France's CAC 40 dropped 0.6 percent to 4,481.60 and Germany's DAX shed 0.4 percent to 9,573.68.

Futures augured another drop on Wall Street. Dow and S&P 500 futures were both down 0.1 percent.

Trading in Asian markets was mixed.

Hong Kong's Hang Seng fluctuated between positive and negative territory, before closing up 0.1 percent at 21,862.99.

Japan's Nikkei 225 stock average gained 0.3 percent to 14,199.59. Investors are waiting for more earnings reports, with Nissan and Sony due to release results next week.

Shuji Hosoi, senior strategist at Daiwa Securities Co. in Tokyo, said investors were satisfied that Toyota's results, released Thursday, were strong, with the world's top automaker reporting record profit for the last fiscal year.

But he said there was little other market-driving news to trade on, leaving share prices in a stalemate.

"People are relieved about Toyota, but that's not enough for a major rally."

Elsewhere, South Korea's Kospi edged up 0.3 percent to 1,956.55, while Australia's S&P/ASX 200 shed 0.3 percent to 5,460.80.

In currencies, the euro fell to $1.3816 from $1.3842 late Thursday. The dollar rose to 101.74 yen from 101.62 yen.

Benchmark U.S. crude for June delivery was up 73 cents to $100.99 a barrel in electronic trading on the New York Mercantile Exchange.

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Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

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Hot Property: Boston’s priciest home hits ceiling

The most expensive listing in Boston, the $13.95 million six-level townhouse at 74 Beacon St., was renovated to reflect the look of a Victorian-era Back Bay townhouse, but one tradition, the basement kitchen, didn't make the cut.

The mansion has just been put back on the market after the kitchen was moved from the basement to the first floor.

"It was a major reason why this property wasn't selling," said Tracy Campion, Boston's top broker in sales volume ($272 million last year), who has been brought on as a co-exclusive listing agent along with Brad Sprogis and John Neale, who originally brought the building to developer Peter Georgantas of Peg Properties & Design.

"Buyers want an open feel with the kitchen, living and dining areas on one floor," said Sprogis. "You're really seeing a move to a less formal style of living even at this level."

The new first-floor kitchen, with white macoubas quartzite counters and island, a La Cornue stove and custom Scandia cabinets, overlooks a private patio.

Transforming the 1828 gray granite townhouse overlooking the Public Garden into a single-family has been a lengthy process. Georgantas bought the property in 2007 when it was four apartments and it took three years to renovate it.

"We wanted it to feel like a historic single-family in Back Bay," said Georgantas, whose wife and business partner, Elizabeth, co-designed the interiors. "But it had to be crisp, clean and bright rather than overbearing, stuffy and Victorian."

A large, bright open living/dining area has quarter-sewn oak floors and custom white woodwork. The grand staircase, modeled after The Breakers in Newport, R.I., connects all 8,450 square feet of living space, plus there's a wood-lined elevator.

The fourth floor is made for entertaining, with a large media room/ballroom that opens onto a rear roof deck with views of Beacon Hill. And there's an oak-lined library, complete with a custom rolling ladder for the bookcases.

The sixth-floor rooftop deck overlooks the Public Garden, with an infinity edge lap pool.

The sumptuous master suite has silk wall coverings, custom dressing rooms and closets and a master bathroom with a clawfoot tub and an enormous glass steam shower.

There are five other bedroom suites and an additional five full and three half bathrooms, plus a private gym and a family room in the basement that opens to a private patio.

The home comes with a deeded garage space at the toney Brimmer Street Garage, along with a parking space behind the house.

After completion in 2010, the home didn't sell, so it was rented for $40,000 to $60,000 a month. But given the superheated luxury market, Georgantas said he now feels optimistic.

"Someone can buy this property that offers a sense of history as well as privacy," he said. "Or they can spend the money on a top-tier condo unit without much character that feels like a hotel."

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Report: Apple on verge of buying Beats for $3.2B

SAN FRANCISCO — Apple is orchestrating a $3.2 billion acquisition of Beats Electronics, the headphone maker and music streaming distributor founded by hip-hop star Dr. Dre and record producer Jimmy Iovine, according to a published report.

Citing people familiar with the negotiations, The Financial Times says Apple could announce the deal as early as next week. In its report posted online late Thursday, the newspaper warned the talks could still collapse if the two sides can't agree on some final details.

Both Apple Inc. and Beats Electronics declined to comment to The Associated Press.

The potential acquisition would add Beats Electronics' popular line of headphones and music streaming service to an Apple line-up that already includes digital music players and the iTunes store, the world's top music retailer.

If the deal is completed, it would be by far the largest purchase in Apple Inc.'s 38-year history.

The Cupertino company has traditionally seen little need to buy technology from other companies, reflecting Apple's confidence in its ability to turn its own ideas into revolutionary products such as the Mac computer, the iPod, the iPhone and the iPad.

But Apple hasn't released a breakthrough product since its former CEO and chief visionary, Steve Jobs, died in October 2011. The innovative void has increased the pressure on Jobs' hand-picked successor, Tim Cook, to prove he is capable of sustaining the success and growth that turned Apple into the world's most valuable company and a beloved brand.

Cook has shown a willingness to spend more of Apple's money than Job ever did. Among other things, Cook began paying Apple stockholders a quarterly dividend and has progressively committed more money to buying back the company's shares.

Apple's pursuit of Beats Electronics is the latest indication that the company is having trouble generating growth on its own. Apple already sells Beats Electronics gear in its stores, giving the company insights into how much the trendy headphones and other audio equipment appeal to its customers.

The negotiations also are taking place as the music market increasingly tilts toward streaming and away from the downloads that once drove the success of Apple's digital music store, iTunes.

U.S. revenue from downloads — which iTunes dominates — dropped 1 percent to $2.8 billion in 2013, while streaming music revenue from the likes of Pandora and Spotify soared 39 percent to $1.4 billion, according to the Recording Industry Association of America.

While downloads still command 40 percent of the market, streaming revenue now accounts for 20 percent of total revenue, up from just 3 percent in 2007.

Beats Electronics LLC was founded in Santa Monica, California in 2008 by Dr. Dre and Jimmy Iovine. Its headphones were manufactured by Monster Cable until the two companies parted ways in 2012. The headphones have become a bit of status symbol worn by celebrities as well as audiophiles.

In 2012, Beats bought streaming music service MOG, which it transformed and relaunched as Beats Music earlier this year. The launch was fueled by a landmark partnership with AT&T that allowed up to five family members to pay $15 a month for the service as long as they were AT&T wireless customers. The deal broke the industry mold of charging each person $10 per month.

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AP Business Writer Ryan Nakashima in Los Angeles contributed to this story.

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Netflix raises prices by a $1 for new subscribers

SAN FRANCISCO — Netflix is raising its Internet video prices by $1 per month for new customers and giving its current U.S. subscribers a two-year break from the higher rates.

The changes mean anyone signing up for Netflix's video subscription service beginning Friday will pay $9 per month for in the U.S. The old price of $8 per month will continue until May 2016 for Netflix's existing 36 million U.S. subscribers.

The price increase, Netflix's first in nearly three years, isn't surprise. The Los Gatos, California-based company disclosed its plans to raise its rates last month without specifying the precise amount.

Netflix Inc. say its needs more money so it can afford to pay for more original programming along the lines of its Emmy award-winning political drama "House of Cards."

By delaying the price increase for current subscribers, Netflix hopes to avoid the backlash that it faced in 2011 when it raised its prices by as much as 60 percent.

The company lost about 800,000 customers within a few months in an exodus that alarmed investors, causing Netflix's stock to plunge by more than 80 percent in a year. Netflix eventually lured back subscribers and revived its customer growth, lifting its stock to record highs earlier this year.

Subscription prices also will be increasing by the equivalent of about $1 month in Netflix's markets outside the U.S. The company ended March with nearly 13 million international customers in more than 40 countries.

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Markets await Draghi after ECB maintains policy

LONDON — The euro slipped back below $1.39 Thursday after the European Central Bank's president, Mario Draghi, hinted that the bank may ease its monetary policy next month.

Though the ECB kept interest rates unchanged, Draghi said the bank's governing council was ready to do more, possibly in June, to shore up the recovery and prevent prices from falling. Inflation in the 18-country eurozone stands at an annual rate of 0.7 percent, way below the ECB's target of just below 2 percent.

He said the 24-member council was "dissatisfied about the projected path of inflation" and "is not resigned to have too low inflation for too long a time."

The recent high value of the euro — it nearly breached the $1.40 mark for the first time since November 2011 — is one of the reasons why inflation is low. A high currency can rein in economic activity by making exports more expensive and making imports, such as energy cheaper. Though the ECB does not target an exchange rate, cutting interest rates or some other type of stimulus measure could reduce the value of the euro.

Very low inflation, or a period of falling prices, also known as deflation, can derail a recovery by prompting consumers to delay purchases in the hope of bargains down the line.

Following his comments, the euro was down 0.1 percent on the day at $1.3894.

Stocks in Europe weren't affected too much by Draghi as the focus remained on a vow from Federal Reserve Chair Janet Yellen to maintain low interest rates until the U.S. job market is healthy.

Germany's DAX was up 0.4 percent at 9,556 while the CAC-40 in France rose 0.6 percent to 4,471. Britain's FTSE 100 was up 0.4 percent at 6,822.

Wall Street was poised for a flat opening, a day after the Yellen-inspired boost.

U.S. stock markets turned positive Wednesday after Yellen told lawmakers that the U.S. job market is "far from satisfactory." She said the Fed will begin increasing interest rates only when there is enough progress in restoring full employment and when inflation is back up to its target of 2 percent. Yellen's comments appeared to ease concerns that the Fed might move too quickly to raise interest rates.

Adding to the upbeat sentiment was China's April trade data that showed an improvement in exports. Exports rose 0.9 percent from the previous year, compared with a 6.6 percent decline in March. Imports also grew after a contraction in March but at a subdued level.

Earlier in Asia, Tokyo's Nikkei 225 stock index, the region's heavyweight, closed up 0.9 percent at 14,163.78 and South Korea's Kospi added 0.6 percent to 1,950.60. Hong Kong's Hang Seng added 0.4 percent to 21,837.12 and China's Shanghai Composite gained 0.3 percent to 2,015.27.

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Stop & Shop going strong after 100 years

Stop & Shop customers can expect in-store specials and vintage product packaging starting later this month as the region's largest grocery chain marks its 100th anniversary.

"It's quite a milestone," said Stop & Shop New England president Joe Kelley, who's kicking off festivities today at the division's Quincy headquarters.

With 394 stores in Massachusetts, Connecticut, Rhode Island, New York and New Jersey, Stop & Shop leads competitors with a 12.35 percent market share and estimated sales of $13.3 billion in 2013, according to the Griffin Report of Food Marketing. Walmart supercenters follow with 169 stores, a 10.03 percent market share and estimated sales of $10.8 billion.

"The competitive landscape is a bit tenacious … but ... we think we have the right format and right strategy to grow our organization," Kelley said.

Kelley declined to discuss expansion plans, but said the company "would love" to open a store in downtown Boston, where it would join Whole Foods, Shaw's and, soon, Roche Bros. in Downtown Crossing, Star Market at North Station and a Wegmans in the Fenway. Stop & Shop now has three Boston stores in South Boston, Dorchester and Mission Hill.

"If we could find a location that works, we'd be thrilled," Kelley said. "We would have been interested in the North Station site, just ... the timing didn't work out.."

For now, Stop & Shop is focused on its "value proposition" of new low prices, according to Kelley. "The majority of Massachusetts and Rhode Island is rolled out," he said. "Most of the South Shore launched last week."

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Government says no need to park recalled GM cars

DETROIT — There's no need to tell owners of recalled General Motors small cars to stop driving them, according to U.S. Transportation Secretary Anthony Foxx.

In a written response to two senators who asked for such an order, Foxx said engineers with the National Highway Traffic Safety Administration have determined it's not necessary.

GM is recalling 2.6 million small cars worldwide to replace ignition switches that suddenly can slip out of the run position and shut off the engine. That can knock out power-assisted steering and cause drivers to lose control and crash. It also disables the air bags. GM says at least 13 people have died in crashes linked to the problem. The company has admitted knowing about the problem for at least a decade, yet failing to recall the cars until this year.

The company has told owners to remove everything from their key chains, and the reduced weight will stop the switches from slipping into the "accessory" or "off" positions.

Foxx, responding to a letter from Democratic Sens. Edward Markey of Massachusetts and Richard Blumenthal of Connecticut, said NHTSA engineers have examined the geometry and physics of the key, ignition switch and steering column of the GM vehicles, and they have reviewed GM's testing data.

"NHTSA is satisfied that for now, until the permanent remedy is applied, the safety risk posed by the defect in affected vehicles is sufficiently mitigated by GM's recommended action," the letter says.

The safety agency, which is part of Foxx's department, has taken measures above and beyond normal procedures in the GM case, Foxx wrote.

The recalled cars include mainly Chevrolet Cobalts and Saturn Ions that are no longer being made. GM is in the process of shipping parts to dealers but has said it won't be done with that until October. The company is offering loaner cars to any owners with safety concerns and so far has provided about 45,000.

But Blumenthal and Markey disagree and say all the cars should be parked until the switches are replaced.

"We remain extremely concerned that GM and NHTSA are not doing enough to convey the seriousness of this defect to owners of the affected cars, unnecessarily putting more lives at risk," the senators said in a statement Wednesday.

They also questioned why GM's initial recall notice to car owners said the ignition switches could malfunction while driving over rough terrain "regardless of additional weight on the key ring."

Both senators are members of a subcommittee that is looking into GM's actions involving the switches. NHTSA and the Justice Department are also investigating, and criminal charges are possible.

GM has said it has done 80 different tests at high speeds and on rough roads, and that with just the key in the ignition, the switches don't move out of the run position.

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State to detail plan to overhaul health website

BOSTON — Massachusetts health officials are set to offer more details on a plan to overhaul the state's hobbled health insurance website.

On Monday, officials said they'll adopt a "dual-track" approach that calls for purchasing software powering health exchanges in other states while at the same time laying the groundwork for a temporary switchover to the federal government's health care exchange if needed.

The plan follows the disastrous rollout of a state website that dramatically slowed the transition from Massachusetts' first-in-the-nation universal health care program to the requirements of the federal Affordable Care Act.

Gov. Deval Patrick on Wednesday said the state doesn't have the time or money to start over and build another website from scratch.

The state's plan will be detailed at a meeting of the state's health connector board Thursday.

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Applications for US unemployment aid fall to 319K

WASHINGTON — The number of Americans seeking unemployment benefits fell 26,000 last week to 319,000, the latest sign that the job market is slowly improving.

The drop follows two weeks of increases that reflected mostly temporary layoffs around the Easter holiday. The holiday can cause an uptick in layoffs of bus drivers, cafeteria workers and other school workers during spring break. Those earlier increases caused the four-week average of applications, a less volatile number, to rise 4,500 to a seasonally adjusted 324,750.

With the impact of the holiday fading, applications are returning to pre-recession levels. The average fell in early April to 312,000, the fewest since October 2007. The recession officially began in December 2007.

Applications are a proxy for layoffs, and so the decline suggests that companies are cutting fewer jobs.

About 2.69 million people are receiving benefits, 76,000 fewer than in the previous week. That figure has fallen nearly 11 percent in the past year. An additional 1.3 million people lost benefits when an emergency program that had provided up to 47 extra weeks of aid expired at the end of 2013.

Employers have stepped up hiring in recent months. The economy gained 288,000 jobs in April, the most in 2½ years, the government said last week.

In addition, the unemployment rate plunged to 6.3 percent from 6.7 percent. But that drop occurred because fewer people looked for work. The government doesn't count people as unemployed unless they are actively searching.

In the past three months, employers have added an average of 238,000 jobs a month, up from 194,000 a month last year. The improved hiring should help boost economic growth for the rest of this year.

The economy barely expanded in the first three months of the year, growing at an annual rate of just 0.1 percent. That was largely because a brutal winter kept consumers away from shopping malls, shut down factories and discouraged home and car sales.

But many signs suggest that the economy has rebounded since then as the weather has warmed. Most analysts estimate that the economy is growing at a healthy annual pace of about 3.5 percent in the current April-June quarter.

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Tech jitters, Ukraine weigh on world stocks

TOKYO — Jitters over the valuations of technology companies pulled stock prices lower from Tokyo to London on Wednesday.

European shares got off to lackluster start, with Britain's FTSE 100 down 0.3 percent to 6,776.65. Germany's DAX edged down 0.1 percent to 9,458.63 and the CAC-40 in France slipped 0.1 percent to 4,422.77.

U.S. markets were poised for a slow start after sharp declines the day before, with both Dow Jones and S&P 500 futures little changed.

Sinking Internet company shares, led by an 18 percent plunge in Twitter's share price Tuesday, added to negative sentiment from tensions in Ukraine, where pro-Russian militants are clashing with military forces in the country's unstable east.

In Asia, the Nikkei 225 stock index sank 2.9 percent to 14,033.45 as the U.S. dollar's relative weakness against the Japanese yen hit exporter shares. It was the first day of trading in Japan after a long weekend.

Softbank tumbled 5.1 percent in Tokyo after Chinese e-commerce giant Alibaba released some details of a planned U.S. initial public offering that analysts say could raise up to $20 billion. Softbank owns 36.7 percent of Alibaba.

Though the IPO is expected to net Softbank handsome returns, the recent slump in technology shares has shaken confidence.

"Whether the market reaction and the IPO valuation will be high or not is still the major concern," said Linus Yip, a strategist for First Shanghai Securities in Hong Kong. "The listing of Alibaba right now, may not be such good timing."

Elsewhere in Asia, South Korea's Kospi lost 1 percent to 1,939.88 and Hong Kong's Hang Seng shed 1.1 percent to 21,746.26.

Shares in Australia, Singapore, China, India and Taiwan fell while Indonesian and New Zealand shares edged higher.

In other markets, benchmark U.S. crude for June delivery was up 95 cents to $100.45 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents to close at $99.50 on Tuesday.

In currency trading, the euro slipped to $1.3919 versus $1.3928 late Wednesday. The dollar fell to 101.55 yen from 101.68 yen.

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Adidas may jettison Rockport

Germany's Adidas Group is entertaining walking orders for The Rockport Co.

The athletic footwear company acknowledged yesterday that it has hired Guggenheim Partners to explore a possible sale of the 43-year-old, Canton-based shoe brand known for merging style with comfort and "walkability."

"Rockport is not the strategic asset for us in the group," CEO Herbert Hainer said in an analyst call. "Nevertheless, we worked hard to improve the products, improve the distribution and, therefore, we are growing the Rockport business last year by 6 percent. It will grow again this year, and I think this is one of the most attractive brands out there."

Rockport was founded in Marlboro in 1971 as a walking shoe company and bought by Reebok International for $118.5 million in 1986. Adidas purchased Reebok in 2006.

Rockport produced
 8 million pairs of shoes in 2013 and had net sales of $402.48 million, according to Adidas Group's annual report.

The brand has about 120 employees in Canton — its global and North American headquarters — and more than 700 globally. All general functions of running the business, including men's and women's product development, design, sourcing, sales, operations, marketing and finance, are based in Canton, spokeswoman Janet Ries said.

Rockport, since it lacks an athletic focus, has never fit into the Adidas stable of brands, said analyst Matt Powell of Princeton Retail Analysis. "If, as (Adidas) says, there are interested parties, it is the right time to explore options," he said. "Given the company's struggles elsewhere, it makes sense to sell."

The dress/casual footwear segment has suffered with the dominance of athletic shoes, according to Powell, and Rockport's performance has been in the middle of the pack.

"I would assume that the most likely buyer would be strategic, with an eye to taking the brand down-market," Powell said.

Rockport's first-quarter revenue, reported yesterday by Adidas, fell 12 percent to $73.8 million.

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Siemens CEO shakes up company to raise profits

FRANKFURT, Germany — German industrial equipment maker Siemens AG has launched a sweeping restructuring to raise disappointing profits and better compete with peers such as General Electric.

The company said Wednesday it is knocking out a layer of upper management, buying a key business to strengthen the crucial power generation division and shedding its line of hearing aids.

Siemens is a huge company with 359,000 employees worldwide that makes everything from gas- and wind-powered turbines to trains, medical imaging devices, factory machines and security equipment. But it has struggled to cut costs and raise profit margins.

Its new CEO, Joe Kaeser, hopes to make it nimbler by eliminating the four broad sectors overseeing its many businesses, and trimming the number of those business divisions from 16 to nine. Each division will get a profit margin target as Siemens aims to focus on fields where it can grow and earn the most.

Cutting out an entire level of management will reduce bureaucracy, speed up decisions, and save 1 billion euros a year, the company says.

Kaeser, who laid out the changes at a news conference in Berlin on Wednesday, took over last year after the previous CEO, Peter Loescher, missed several profit targets.

The revamp comes as Siemens is considering making an offer for the power generating business of France's Alstom, which has already received an offer from General Electric. Kaeser dismissed speculation that Siemen wasn't really serious about Alstom and mainly hoped to raise the price that GE would pay. "If I was not serious I would not waste my time or the time of my team," Kaeser said.

The company meanwhile said it had agreed to buy the gas turbine and compressor business from Britain's Rolls-Royce PLC for 950 million euros ($1.32 billion). The business makes small, highly efficient turbines the oil and gas industry can use to supply power, in particular on offshore platforms where space is limited.

Siemens will also spin off its hearing-aid business through a stock-market offering, and manage its medical business as a separate entity within Siemens.

The company meanwhile announced what it called a "mixed" earnings performance in the first three months of the year, the company's fiscal second quarter. Net profit rose 12 percent to 1.15 billion euros ($1.61 billion). But revenues fell 2 percent to 17.78 billion euros, and new orders slipped 13 percent to 18.43 billion euros. New orders are key to future profits as it delivers large projects with long lead times.

The results "showed that we still have a lot to do to improve our operating performance," Kaeser said. He reaffirmed the company's earnings projections.

The company named American oil executive Lisa Davis, until now with Royal Dutch Shell, to the top management board overseeing the company's businesses in gas and steam turbines and wind power, as well as its North and South America regions. She replaces Michael Suess, who resigned.

Shares in Siemens, which is based in Munich, rose 1.6 percent to 95.28 euros in early afternoon trading in Europe.

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Mobile devices get charge from Greenway

The Rose Kennedy Greenway has become a little more tech friendly with the addition of three solar-powered charging stations for mobile devices.

The stations — at Dewey Square, the carousel and Rose Wharf Plaza — have six charging ports and a hearty battery big enough to charge phones through the night. Three of the ports have micro USB cables, but those looking to charge an iPhone will need to bring their own cord.

"We are trying to offer a variety of things that may be of interest to folks," said Charlie McCabe, the Greenway Conservancy's director of public programs. "We try to make it a nice place for people to come and enjoy."

The stations, built by Utah-based Goal Zero, are being loaned to the Greenway by Life is Good, which has used similar Goal Zero stations at its Life is Good Festival in Canton.

The stations charge at roughly the same speed as a wall outlet, said Chris Abbruzzese, a spokesman for Goal Zero.

The charging stations will be in place until November, and McCabe said the conservancy is exploring additional high-tech amenities.

"There's always folks coming out that have a new idea," he said. "That's one of the benefits of being in the city and the area, to take advantage of all the innovation that's going on."

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LevelUp moves to new office, adding employees and partners

Mobile payments company LevelUp has increased its user base and headcount quickly in the past four months and has moved to a new office, the the number of active users is still lagging.

"Since January, we've grown about 15 percent and in the process moved to new offices in Downtown Crossing," said Matt Kiernan, marketing director for LevelUp.

The company said it has 1.5 million users, and active users - users with five or more purchases in a month - have increased 35 percent since January.

"We're seeing an increase in launches in white label apps where we've been seeing a lot of user growth," Kiernan said. "We are growing in terms of partnerships, revenue in terms of campaign sales."

Orders per months and spend volume are up 50 percent since January as well.

LevelUp attributes the growth to new enterprise partners, particularly partners outside of Boston including Dunn Bros Coffee, which has 65 locations in Minneapolis. The coffee company's app uses LevelUp.

"We have a couple thousand people in Minneapolis and the surrounding area paying with the LevelUp app," he said. "We are seeing growth in the middle of the country."

LevelUp may be growing relative to January, but the number of active users  is still down compared to two years ago. In 2012, the company said it had 200,000. Now, it has 110,000, up from 80,000 in January.

LevelUp has also been hiring quickly, adding 11 positions since January, a 15 percent increase. The new office, Kiernan said, is slightly bigger, has a better layout and feel, and features murals from local artists.

"It's just a better environment for getting work done," he said. "It allows us to hire more people."

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Target CEO ouster tied to data breach, sales

Target Corp. removed 35-year company veteran Gregg Steinhafel as its CEO yesterday in the wake of last year's disastrous data breach that hit as many as 110 million customers.

Analysts say the abrupt move likely also was triggered by Target's bungled expansion into Canada, soft U.S. sales and poor e‑commerce results. Steinhafel had been CEO since 2008.

Target is the second-largest U.S. discounter behind Wal-Mart, with $71.3 billion in annual sales last year. Its net income dropped 46 percent in the fourth-quarter that included the crucial holiday season after its Dec. 19 breach announcement heavily cut into sales.

"The data breach is a pretty public thing, but Canada was not executed well last year ... and, also, the general U.S. merchandising in the stores hasn't been as crisp or exciting," said Joseph Feldman, a Telsey Advisory Group analyst.

Target posted a $1 billion loss in Canada last year on sales of $1.3 billion.

"On a positive note, this is something that I think investors have been looking for — a change in the top that might help reinvigorate the business," Feldman said.

Target CFO John Mulligan will be interim CEO.

Steinhafel's replacement will need to identify Target's flaws in merchandising, marketing and e-commerce, said Jefferies analyst Daniel Binder. Target's core business has been lackluster for several quarters, he said, and "The latest data … suggests that even if the U.S. business has stabilized post-credit card data breach, the bigger picture for Target isn't seeing an acceptable rate of change."

The timing of Target's announcement suggests the board perhaps had received an unfavorable first-quarter update, according to William Blair analyst Mark Miller. Those results are due to be publicly reported May 21.

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Boston researchers get $5.9M in grants

Fifteen Boston researchers have been awarded 
$5.9 million in American Cancer Society grants to study areas as diverse as the biological components of cancer and the emotional and psychological aspects of the disease.

"It's something to be very proud of that even though the American Cancer Society is a national organization, so much support returns to this area because of the wealth of research here," said Dr. Alan Rosmarin, a member of the society's board of directors and division chief of hematology and oncology at UMass Memorial Hospital in Worcester. "The range is enormous. It's simply the cream of the crop."

Lara N. Traeger, a staff psychologist at MGH, said she will use the $709,000 she was awarded to study how depression and anxiety impact patients' experience of their pain.

"Instead of treating all these symptoms separately," Traeger said, "I want to figure out a way to treat them simultaneously to help make patients' quality of life better."

Researchers at Dana Farber Cancer Institute won four grants totaling 
$1.9 million, followed by Massachusetts General Hospital, which won three totaling $1.1 million; and MIT, which won two totaling $955,500. Boston Medical Center, Boston University, Tufts University, Children's Hospital, Beth Israel Deaconess Medical Center and Simmons College each won one grant, for $792,000, $776,000, $163,500, $107,500, $57,500 and $40,000, respectively.

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Bowman: Business cards say lot about you

We all meet and exchange cards at meetings, in restaurants, attending industry functions, traveling, at social events. But absently handing someone a card is a missed opportunity.

The everyday practice of business card exchange is time-honored, and honing this demonstrates respect, portrays you as professional and will help set you apart.

The business card itself casts an important "first impression." Consider your business card your ticket in the door and discard any thoughts that the paper card may be becoming obsolete in an increasingly paperless world: The traditional business card is timeless.

Business cards — called "meishi" in Japanese which literally translated means "face" — represents one's "life." Therefore, the quality of paper stock is important, as well as how the card is presented, received, acknowledged and ultimately placed.

The most formal way of presenting a card is by holding it with a thumb on either corner, readable side up or one thumb on one corner. Receive it the same way. Most importantly, acknowledge the card — look at the card, read it, study it, caress it! Look back at the other person and acknowledge their card, title, life.

Place the card someplace respectful — your inner breast pocket or portfolio; do not discard.

If you are serious about doing business in your target country, the same information should be printed in their native language, presented readable side up.

Exchange cards before the meeting as you introduce yourself and shake hands. Align subtly, yet strategically around your portfolio to coincide with seating to access names as you address individuals; using names in conversation is powerful.

As for the look of the card, make sure colors and font are consistent with your firm's mission.

Here are some tips on what not to do:

•    Don't ask a very senior executive for their business card; they won't have one. You should know how to find them and follow up.

•    Don't assume someone wants your card. Ask, "May I offer you my card?" "May I ask for your card?"

•     Never write on a business card in the presence of that person; you are defacing their "life." Ask, "May I write that on the back of your card?"

And if anyone ever asks for your card — even though this is your last card and it is bent, frayed or damaged in any way, toss it. (This suggests you are, too!)

Judith Bowman is an author and president of her own consulting company.

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China tightens controls on imports of baby formula

BEIJING — China has tightened controls on imports of infant formula in a move an industry official in New Zealand, a major supplier, said might block some products.

The announcement coincides with an effort by Beijing to build up its dairy industry following a 2008 tainted milk scandal that killed at least six babies and prompted many parents to switch to imported formula.

Only milk products from foreign sources that are registered with the government can be imported, the Administration for Quality Supervision, Inspection and Quarantine said on its website. A list issued by the government showed foreign brands including European units of Abbot Laboratories, Mead Johnson Nutrition Co. and Nestle Group have registered.

An industry group in New Zealand said only six of the country's 13 suppliers were approved. The chairman of the New Zealand Infant Formula Exporters Association said that might result in some shipments to China being blocked.

"We lost a whole lot of ground this morning," said Michael Barnett at a news conference, according to the New Zealand Herald newspaper.

Demand for imported milk soared after the 2008 scandal in which some Chinese supplies were found to contain melamine, a chemical that can cause kidney damage and other injuries. Some suppliers added it to fool protein tests on watered-down supplies.

Suppliers from New Zealand, Australia, Europe and elsewhere took market share from Chinese competitors, setting back the communist government's efforts to build a domestic dairy industry.

The brand at the center of the 2008 scandal, Sanlu, was broken up and tighter quality standards imposed on the industry. However, that has failed to restore the confidence of Chinese parents. Imported brands have such a strong reputation for quality that customers pay up to three times the price of local brands in supermarkets.

In August, regulators fined five foreign milk suppliers and one from Hong Kong a total of $108 million on charges they violated China's anti-monopoly law by setting minimum retail prices for stores.

In the latest effort to build a domestic industry, the city government of Beijing will give 10.8 million yuan ($1.7 million) to a major local brand, Sanyuan Group, to develop "safe and healthy infant milk powder," the newspaper Beijing Youth Daily reported.

Demand for imported formula is so strong that smugglers bring supplies from Hong Kong, Australia and elsewhere. That has prompted Hong Kong and some other markets to limit purchases to ensure local customers have adequate supplies.

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Office Depot plans to close at least 400 US stores

BOCA RATON, Fla. — Office Depot is planning to close at least 400 U.S. stores, as its merger with OfficeMax resulted in an overlap of retail locations that can be consolidated.

The office supply retailer had 1,900 stores in the U.S. at the end of the first quarter, so the plans call for closing about 21 percent of them. Office Depot and OfficeMax Inc. completed their $1.2 billion deal last November.

Office Depot said it has not quantified the number of jobs that will be affected by the store closures but that it will look to place its best talent impacted by the store closings into new roles, wherever possible.

Its shares rose more than 8 percent in premarket trading Tuesday.

Chairman and CEO Roland Smith said in a statement that one of the company's goals this year was to improve its store footprint in North America to meet customer demand better and ensure that it's well positioned in the markets it serves.

"The overlapping retail footprint resulting from the merger provides us with a unique opportunity to consolidate and optimize our store portfolio, while maintaining the retail presence necessary to serve our customer," Smith said.

Office Depot said Tuesday that it expects to close 150 U.S. stores this year, mostly in the fourth quarter. It closed 14 stores in the first quarter, a company spokeswoman said.

All of the store closures are anticipated to occur by the end of 2016.

The store closings are expected to result in at least $75 million in annual savings by 2016's end and add to earnings starting next year.

Office Depot, which is based in Boca Raton, Florida, said that it's still trying to determine expected working capital savings and costs related to the store closings.

The company also reported its first-quarter financial results on Tuesday, which include results from OfficeMax. The year-ago results do not include OfficeMax.

For the period ended March 29, Office Depot lost $109 million, or 21 cents per share. In the prior-year period it lost $17 million, or 6 cents per share. Removing merger-related expenses and other items, earnings were 7 cents per share.

Revenue climbed to $4.35 billion from $2.72 billion. Pro forma revenue for the year-ago period was $4.48 billion.

Analysts polled by FactSet predicted earnings of 3 cents per share on revenue of $4.27 billion.

Shares of Office Depot climbed 35 cents, or 8.4 percent, to $4.52 in premarket trading.

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China manufacturing shrinks for 4th month

HONG KONG — China's manufacturing contracted in April for the fourth straight month but the pace of decline was less severe, suggesting the downturn in the world's No. 2 economy is bottoming out.

HSBC's purchasing managers' index released Monday ticked up to 48.1 from 48.0 in March on a 100-point scale on which numbers above 50 indicate expansion.

The reading is slightly lower than 48.3 in a preliminary version of the report last month. But it's the first time the index has risen since it started falling from 50.9 in October.

The report said new export orders contracted in April although the decrease was slight and outpaced by a faster decline in new orders overall, indicating that weak domestic demand was mainly to blame for weakness in manufacturing. Employment at factories declined for the sixth month in a row.

"The latest data implied that domestic demand contracted at a slower pace, but remained sluggish," said HSBC's chief China economist, Qu Hongbin. The numbers "indicate that the manufacturing sector, and the broader economy as a whole, continues to lose momentum."

HSBC's report was more pessimistic than a manufacturing index released last week by the state-sanctioned China Federation of Logistics and Purchasing, which hovered above the no-change level at 50.4. The official survey gives more weight to China's big state companies while HSBC's focuses more on small private enterprises, and the difference indicates the latter are under more pressure amid the slowdown.

Economic growth slowed to 7.4 percent over a year earlier in the first quarter, with weak trade and manufacturing fuelling concern about a possible rise in politically volatile job losses.

Chinese leaders are trying to shift the economy to growth based on domestic consumption instead of exports and investment.

In the past few years, Beijing has rolled out mini-stimulus efforts when growth appeared to be cooling too sharply, but Qu said "bolder actions" will be required to ensure growth regains momentum.

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China refuses Vietnam's call to stop oil drilling

HANOI, Vietnam — Vietnam demanded China stop oil drilling operations in a disputed patch of the South China Sea, saying on Monday that Beijing's decision to deploy a deep sea rig over the weekend was illegal.

China dismissed the objections, saying the activity was being carried out in its territorial waters.

Beijing's increasingly assertive territorial claims to the waters, which are thought to have large oil and gas deposits beneath them, have angered Vietnam, the Philippines and other claimants. The region is widely seen as a potential area of conflict.

Last week, President Barack Obama signed a new defense pact with the Philippines aimed at reassuring Asian allies of American backing as they wrangle with Beijing's growing economic and military might.

The China Maritime Safety Administration posted a navigational warning on its website advising that the CNOOC 981 rig would be drilling in the South China Sea from May 4 to Aug. 15, in an area close to the Paracel Islands, which are controlled by China but Vietnam claims as its own.

China's maritime administration also said that ships entering a 3-mile (4.8-kilometers) radius around the area are prohibited.

Vietnam's foreign ministry said the area where the rig was stationed lay within Vietnam's exclusive economic zone and continental shelf as defined by the 1982 U.N. Convention on the Law of the Sea.

"All foreign activities in Vietnam's seas without Vietnam's permission are illegal and invalid," the ministry said in a statement. "Vietnam resolutely protests them."

Vietnam's state-owned oil company, PetroVietnam, demanded that China National Offshore Oil Corporation "immediately stop all the illegal activities and withdraw the rig from Vietnamese waters."

Asked about Vietnam's objections, Chinese Foreign Ministry spokeswoman Hua Chunying said the drilling was taking place in Chinese waters.

Many analysts believe China is embarking on a strategy of gradually pressing its claims in the water by seeing what it can get away with, believing that its much smaller neighbors will be unable or unwilling to stop them. Vietnam has accused Chinese ships of cutting cables to its exploration vessels and harassing fishermen, as has the Philippines.

Chinese assertiveness puts Vietnam's authoritarian government in difficult position domestically because anger at China, an ideological ally, runs deep in the country. This is exploited by dissident movements, who accuse the government of being unwilling to speak out against Beijing.

Tran Cong Truc, the former head of a government committee overseeing the country's border issues, said the latest Chinese move was especially provocative.

"This act by China is much more dangerous than previous actions such as cutting the exploration cable or fishing bans," he said.

___

Associated Press news assistant Zhao Liang in Beijing contributed to this report.

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Target CEO Steinhafel out in wake of data breach

NEW YORK — Target's massive data breach has now cost the company's CEO his job.

Target announced Monday that Chairman, President and CEO Gregg Steinhafel is out nearly five months after the retailer disclosed the breach, which has hurt its reputation among customers and has derailed its business.

The nation's third-largest retailer said Steinhafel, a 35-year veteran of the company and CEO since 2008, has agreed to step down, effective immediately. He also resigned from the board of directors.

A company spokeswoman declined to give specifics on when the decision was reached.

Shares fell nearly two percent in pre-market trading Monday.

The departure suggests the company is trying to start with a clean slate as it wrestles with the fallout from hackers' theft of credit and debit card information on tens of millions of customers. The company's sales, profit and stock price have all suffered since the breach was disclosed.

Target, based in Minneapolis, said Chief Financial Officer John Mulligan has been appointed interim president and CEO. Roxanne S. Austin, a member of Target's board, has been named as interim nonexecutive chair of the board. Both will serve in those roles until permanent replacements are named.

Steinhafel will serve in an advisory capacity during the transition. Jim Johnson remains lead independent director on the board.

Steinhafel's tenure has been rocky. The company has struggled with its expansion into Canada, its first foray outside of the U.S. The company, known for its cheap chic clothing and home decor, also has seen uneven sales since the recession ended as it confronts fierce competition.

Under Steinhafel's leadership, the company has expanded into fresh groceries and offered a 5 percent discount to customers who use its branded debit and credit cards. But clearly the breach was a big black eye on Steinhafel's term.

"The last several months have tested Target in unprecedented ways," Steinhafel wrote in a letter to the board that was made available to The Associated Press. "From the beginning, I have been committed to ensuring Target emerges from the data breach a better company, more focused than ever on delivering for our guests."

Steinhafel's departure comes two months after the company announced that Chief Information Officer Beth Jacob resigned and outlined a series of changes it was making to overhaul its security systems and its security department.

Last week, Target named Bob DeRodes, who has 40 years of experience in information technology, as its new chief information officer. Target said it is continuing its search for a chief information security officer and a chief compliance officer.

Target also said last week that MasterCard Inc. will provide branded credit and debit cards with a more secure chip-and-PIN technology next year. That will make Target the first major U.S. retailer that will have store cards with this technology.

Steinhafel has been facing increasing pressure since it was revealed on Dec. 19 that a data breach compromised 40 million credit and debit card accounts between Nov. 27 and Dec. 15. Then on Jan. 10, the company said hackers also stole personal information — including names, phone numbers as well as email and mailing addresses — from as many as 70 million customers.

The company's board has been meeting with Steinhafel monthly instead of quarterly to oversee Target's response to the breach.

When the final tally is in, Target's breach may eclipse the biggest known data breach at a retailer, one disclosed in 2007 at the parent company of TJ Maxx that affected 90 million records.

Target reported in February that its fourth-quarter profit fell 46 percent on a revenue decline of 5.3 percent as the breach scared off customers.

Target's sales have been recovering as more time passes, but it expects business to be muted for some time: It issued a profit outlook for the current quarter and full year that missed Wall Street estimates because it faces hefty costs related to the breach.

Target's shares have been volatile and are down 2.5 percent since the breach was disclosed. Shares fell $1.06 to $60.95 in premarket trading.

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Dunkin' Donuts readies to do battle in Europe

AMSTERDAM — The doughnut, that classic deep-fried American snack, is going forth to do battle with European national treats in their homelands: the Belgian waffle, the Austrian strudel and the Danish ... Danish.

After beating a retreat in the 1990s, American restaurant chain Dunkin' Donuts has been quietly building up its presence in Europe and now has 120 outlets, mostly in Germany but also in Russia, Spain, Bulgaria and most recently, Britain.

Dunkin' Donuts' head of international development Jeremy Vitaro says that the company is now looking to open stores in Denmark, Austria, Belgium and the Netherlands. Despite the weak European economy, it thinks customers have money to spend.

"They're sophisticated, and they're culturally very open (to trying new foods)," he said.

Dunkin' Donuts' mainstays are doughnuts and coffee, along with muffins and more solid lunch foods, such as bagels. Then the chain offers variations to please local tastes.

In London, where the chain has recently opened three shops, it sells a savory snack called "Bacon Buttie," as well as porridge.

Is that porridge as in, well, oatmeal?

"Hot cereal, yes," Vitaro says. "We also do a Croistrami sandwich, that's a pastrami croissant. So we do localize. We have a curry doughnut in India."

Joost Kling, a Dutch food industry entrepreneur, thinks the chain will face something of an uphill battle in the Netherlands.

"They don't have much name recognition, if any," he said. "I think a lot will depend on their staying power." He wondered about the willingness of the firm to advertise and lose money for a time when stores first open.

Kling has some experience going the opposite direction. His company, "Eat Dutch Waffles," has brought the Dutch delicacy known as "stroopwafel" — a hot waffle cookie filled with syrup — into 1,000 American stores and bakeries.

He guessed around a half of Dutch people know what doughnuts are, but most have only tried low-quality versions on offer in grocery stores.

"A stroopwafel tastes very different when it's fresh, and it's the same for a doughnut," he said. Europeans "won't really have any basis for value comparison: they don't know what makes a good doughnut."

In addition, Europeans may feel attachment to their own local delicacies.

In Belgium, the Brussels waffle is light and fluffy and dusted with powdered sugar, while in Liege they're heavier and sweeter, with caramelized sugar. The "Belgian Waffle" topped with powdered sugar, strawberries and a flourish of whipped cream is probably an American invention. It's popular in Scandinavia.

In Austria, people with a sweet tooth turn to Apfelstrudel — or Danishes.

In Denmark they also eat Danishes, of course. But the Danes in turn call them "wienerbrod," or 'Viennese bread,' since, as lore has it, the treat was introduced by Austrian bakers once upon a time. Cinnamon is a favorite flavor.

Vitaro said Dunkin' Donuts is already interviewing would-be franchise owners and plans to open several stores in each new market by the end of 2014, focusing on major cities first, with "many more" coming in early 2015.

"We believe our basic offer of speed and value and fun will connect well with consumers," he said. "It has so far."

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Target CEO Steinhafel out in wake of data breach

NEW YORK — Target says Chairman and CEO Gregg Steinhafel is out, nearly five months after the retailer disclosed a massive data breach that hurt its reputation.

The nation's third-largest retailer says Steinhafel has agreed to step down as the company's chairman, president and CEO, effective immediately. He also has resigned from its board of directors.

Target, based in Minneapolis, says Chief Financial Officer John Mulligan has been appointed interim president and CEO. Roxanne S. Austin, a member of Target's board, has been named as interim nonexecutive chair of the board.

Steinhafel, a 35-year veteran of Target, will serve in an advisory capacity during the transition.

Target said in December that hackers stole credit and debit card information on tens of millions of customers.

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Buffett says US firms prosper as economy improves

OMAHA, Neb. — Investor Warren Buffett says the U.S. economy continues to improve gradually, and he doesn't think any price "bubbles" are developing.

Buffett told Berkshire Hathaway shareholders at the company's annual meeting Saturday that American businesses are thriving as is evident in their profit reports.

The fact that interest rates have remained near zero for several years has some investors worried about bubbles forming in prices.

Buffett doesn't see signs that a bubble is forming in bonds or any other assets. But he says it's unusual that rates have remained low this long.

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Decoding the Apple-Samsung patent dispute

LOS ANGELES — Apple and Samsung are suing each other in courts and trade offices around the world, each making claims that the other copied patented mobile device features.

The companies' most-recent legal tussle all but concluded on Friday, when a California jury found that Samsung copied some of Apple's smartphone features. The panel also concluded that Apple illegally used one of Samsung's patents in creating the iPhone 4 and 5.

All told, the jury awarded Samsung $158,400 and Apple $119 million, far less than the $2.2 billion the company sought.

Jurors were ordered to return to court Monday to continue deliberations on a minor matter that could result in a higher award for Apple.

Before determining whether the companies copied phone technologies, jurors had to consider several patents. Here's a look at select patents and the jury's conclusions:

Patent 5,946,647

—Official description: System and method for performing an action on a structure in computer-generated data.

—What it really means: In a mobile device, the technology described in this patent is used to display a pop-up menu of options. One example: When you highlight a phone number on the touchscreen and the software gives you a prompt of options.

—The jury's verdict: The jury found that Apple proved Samsung infringed on the patent across several mobile devices, including the Galaxy Nexus, Galaxy S III and Stratosphere.

Patent 6,847,959

—Official description: Universal interface for retrieval of information in a computer system.

—What it really means: This patent covers a process that's similar to the function of a search engine. It enables the mobile device to access information from a variety of locations, while only listing relevant data for the user.

One of the features in the patent is a graphic interface showing a "Go-To" menu option in a text input window.

—The jury's verdict: Apple failed to prove Samsung infringed on this patent.

Patent 7,761,414

—Official description: Asynchronous data synchronization among devices.

—What it really means: This patent involves a way to synchronize data across computers and mobile devices. In the case of a smartphone, this could apply to synchronizing address books on your phone with online storage.

—The jury's verdict: Samsung did not infringe on Apple's patent.

Patent 8,046,721

—Official description: Unlocking a device by performing gestures on an unlock image.

What it really means: This patent refers to a way of controlling an electronic device with a touch-sensitive display. Specifically, Apple claimed Samsung infringed on a feature of the patent that describes the swipe-and-unlock feature on iPhones.

—The jury's verdict: Apple made its case that certain Samsung devices, including the Admire, Stratosphere and Galaxy Nexus violated patents. But the panel rejected claims pertaining to Samsung's Galaxy S II, Galaxy S II Epic 4G Touch and Galaxy S II Skyrocket.

Patent 5,579,239

—Official description: Remote video transmission system.

—What it really means: Samsung's patent describes a system for digitizing, compressing and transmitting audio and visual signals and then reversing the process for broadcast.

The jury's verdict: Apple did not infringe on a section of Samsung's patent that covers transmitting video in real time over a cellular frequency.

Patent 6,226,449

—Official description: Apparatus for recording and reproducing digital image and speech.

—What it really means: This Samsung patent refers to the kind of dual digital camera that's become standard in many smartphones. As described in the patent, the user is able to change the direction of the camera.

The jury's decision: Apple infringed on Samsung's patent on several versions of the iPhone and iPod Touch.

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Westfield State U. agog over new Google technology

WESTFIELD, Mass. — It was a futuristic sight, as about a dozen students, faculty, and community members gathered around a cluster of screens on the second floor of the Ely Library at Westfield State University late last month to behold a wonder of modern technology.

The wonder that lay before them, projected onto seven screens standing seven feet tall, is Liquid Galaxy, a revolutionary product developed by Google which utilizes the company's Google Earth component to take users almost anywhere in seconds, on Earth or elsewhere.

"It sends Mars data, too," said Tom Raffensperger, the dean of Academic Information Services at Westfield State. "There's a rover up there taking pictures and mapping."

Capable of showing off the red planet just as adeptly as taking users to Fenway Park, Liquid Galaxy's potential is seemingly limitless, and Raffensperger says it will be available to the greater Westfield community during open lab times, after being made available to professors and students first.

As the jaws of students and faculty alike dropped to the floor at the startling realism and accuracy of Google Earth's mapping, professors in the school's geography department took the opportunity to speak about the project, it's humble beginnings, and what it means for the institution.

"It all started when Tim (LeDoux) and I were invited to attend the geospatial technology and higher education workshop at Google in California last summer," said Dr. Carsten Braun, a professor of Geography and Regional Planning at the University. "When we saw the Liquid Galaxy we said 'wow, this is cool, but not just cool — a great teaching tool.' So when we came back, we launched an idea to (Dr.) Liz Preston and Tom Raffensperger saying 'Hey, is this something we could get?'"

Various university departments collectively paid $25,000 to use the program.

"It was really a collaborative effort," said Raffensperger. "It was a lot of departments getting together. The library, we worked hard to make this space available, and the people at IT, academic information services, academic affairs, just a lot of different departments seeing how this would benefit the university as a whole."

Raffensperger added that professors such as LeDoux will be using the program for introductory and advanced global imaging systems (GIS) courses to take students to distant cities.

"As a geographer and planner, I talk a lot about different cities and the issues they're facing, such as Detroit with its bankruptcy," LeDoux said. "I can talk a lot about the legacy — the racism, the disinvestment issues — and that helps students paint a picture, but to take them on the ground and walk through the neighborhoods of Detroit using this, they see it, the abandoned buildings, and it brings home the visual element to them."

"I will be using this in my physical geography class, which is about landforms — glaciers, rivers, mountains, beaches — all kinds of stuff that. With this immersive program, you can experience beach erosion, experience sea level rise, much better than a static picture," Braun said. "We can do labs and say 'let's go to the Grand Canyon, let's look at what goes on at the intersection of land and ocean.'"

"(We'll be) working with the folks from the Art Department, or any other interested people to create content experiences that they can use in their classes," he added. "That's what we're going to be working on in the next few months. 'You teach English Literature, you teach Art, let's see how we can create activities that let students experience this in a special sense.'"

"This can be applied to all the different disciplines at the University," LeDoux added. "Whether you're trying to ground literature for students, poetry that a poet is writing about a landscape, it's a very vivid image, but actually seeing what they're writing about is very powerful."

When asked about the prevalence of this technology, Braun was proud to admit that Liquid Galaxy is so far only available in museums and large research-based institutions, none of which are the size of Westfield State.

"I'd be super happy to talk to anybody about how to make this useful," Braun said. "In a perfect world, we want to help everybody get this. But first, let's take this off the campus and bring it into the community, working in the local schools and make this a tool or experience that we share with the entire community."

"We are very excited to be able to provide this," said Westfield State University President Dr. Elizabeth Preston during the demo. "Part of the reason we decided to invest in the technology is because it's very clear that it has applications for all kinds of disciplines beyond the obvious. So we're very excited to have the technology on campus."

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'Orange Is the New Black' wins GLAAD Media Award

NEW YORK — GLAAD celebrates "Orange Is the New Black."

The Netflix show set in a women's prison was named outstanding comedy series at the 25th annual GLAAD Media Awards' New York ceremony.

Cast members — including Laverne Cox, who won her own GLAAD honor at the organization's Los Angeles awards ceremony last month — accepted the award Saturday at the Waldorf Astoria hotel.

George Takei received the Vito Russo award, presented to an openly gay media professional for promoting equality for the gay, lesbian, bisexual and transgender community.

Other winners Saturday included the films "Concussion" and "Philomena" and Oprah Winfrey's interview with openly gay professional basketball player Jason Collins.

The GLAAD Media Awards recognize fair, accurate and inclusive representation in media of the LGBT community and the issues that affect their lives.

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Debate over 38 Studios bond default to heat up

PROVIDENCE, R.I. — Rhode Island has shelled out the first appropriated funds for its failed investment in Curt Schilling's 38 Studios company, but the debate over whether to honor the rest of the debt is expected to ramp up in the General Assembly.

The state sent the bond trustee $2.4 million for an interest-only payment due to bondholders on Thursday. Lawmakers reluctantly approved the funds last session.

But they will soon have to take up whether to appropriate $12.5 million for the next installment. Gov. Lincoln Chafee has included the amount in his spending plan and maintains that a default would seriously harm Rhode Island's financial reputation and significantly increase future borrowing costs.

The state remains on the hook for some $87 million. Earlier payments came from funds set aside as part of the deal under which Schilling's startup video game company got a $75 million loan.

The Economic Development Corp. agreed in 2010 to back the loan to help lure the company from Massachusetts to Providence. 38 Studios later went bankrupt.

The EDC, now called the Commerce Corp., is suing the former Red Sox pitcher and 13 others, including some of its own former officials, claiming the board was misled into approving the loan guarantee. The defendants deny the charges.

House Speaker Nicholas Mattiello says he is waiting for the findings of an outside report on the impact of defaulting on the "moral obligation" bonds. Faye Zuckerman, a spokeswoman for Chafee, said the report by S.J. Advisors should be out soon.

One vocal critic of repayment is Rep. Karen MacBeth. The Cumberland Democrat, who is chairwoman of the House Oversight Committee, has introduced legislation for the second year that would prohibit the state from making the payments.

She said the committee will hear testimony on the issue Thursday and is reviewing how the 38 Studios deal came about and whether it was properly vetted.

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