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New Hub report denies a ‘brain drain’ exodus

Written By Unknown on Sabtu, 25 Oktober 2014 | 20.25

A new BRA report debunks what Hub officials have long bemoaned as Boston's "brain drain" — the mass exodus of the young and college educated who flee the area soon after graduation and take their talents to high tech jobs in other cities.

The report, which analyzed census data, labor statistics and two studies over the past decade, found that the number of newly minted college graduates leaving the city is a normal turnover for what you would expect from a region where higher education is a major industry. The analysis also found that the area boasts a healthy level of young, college-educated residents.

"We are not saying we shouldn't concentrate on retaining young people and graduates. But there is no brain drain in Boston. That's what we found," said Alvaro Lima, research director at the Boston Redevelopment Authority.

"I think that the main argument is that higher education institutions in Boston are an export industry," said Lima. "We bring in people — lots of people — and bring in money by charging them for education."

Lima and researchers at the University of Massachusetts Donahue Institute also found there are not enough jobs in the area labor markets to hire anywhere near the number of graduates each year.

"There is no way we are going to retain 60,000 people a year," Lima said. "You cannot produce jobs at the same rate you produce graduates."

A recent study released by think tank City Observatory seems to back up the BRA report. Boston is one of only four cities, including San Francisco, San Jose and Washington, D.C., where half or more of all 25- to 34-year-olds have a college degree, that study showed.

City Observatory found that the number of 25- to 34-year-olds with college degrees in the Boston area grew by nearly 12 percent from 2000 to 2012. San Francisco, the Hub's chief rival in luring high-tech pros, posted nearly the same spike in that time.

"We are not saying that Boston should not double every effort to retain more young people," said Lima. "What we're saying is we don't have young people leaving by droves right now."


20.25 | 0 komentar | Read More

WHO: Number of Ebola-linked cases passes 10,000

DAKAR, Senegal — More than 10,000 people have been infected with Ebola, according to figures released Saturday by the World Health Organization, as the outbreak continues to spread.

Of those cases, 4,922 people have died.

The Ebola epidemic in West Africa is the largest ever outbreak of the disease with a rapidly rising death toll in Guinea, Liberia and Sierra Leone. There have also been cases in three other West African countries, Spain and the United States.

The U.N. health agency said Saturday that the number of confirmed, probable and suspected cases has risen to 10,141. Its figures show about 200 new cases since the last report, four days ago.

Even those grisly tolls are likely an underestimate, WHO has warned, as many people in the hardest hit countries have been unable or too frightened to seek medical care. A shortage of labs capable of handling potentially infected blood samples has also made it difficult to track the outbreak. For example, the latest numbers show no change in Liberia's case toll, suggesting the numbers may be lagging behind reality.

On Thursday, authorities confirmed that the disease had spread to Mali, the sixth West African country affected, and on the same day a new case was confirmed in New York, in a doctor recently returned from Guinea.

Mali had long been considered highly vulnerable to the disease, since it shares a border with Guinea. The disease arrived there in a 2-year-old, who traveled from Guinea with her grandmother by bus and died Friday.

The toddler, who was bleeding from her nose during the journey, may have had high-risk contact with many people, the World Health Organization warned. So far, 43 people are being monitored in isolation for signs of the disease, and WHO said Saturday that authorities are continuing to look for more people at risk.

To help fight Ebola, the U.N. humanitarian flight service airlifted about 1 ton of medical supplies to Mali late Friday. The seats of the plane were removed to make room for the cargo, which included hazard suits for health workers, surgical gloves, face shields and buckets, according to the World Food Program, which runs the flights.

"Speed is of the essence in this Ebola crisis. Agencies such as WFP and WHO are working every hour to confront together the virus as a matter of priority," said Denise Brown, the West Africa regional director for the U.N. food agency.


20.25 | 0 komentar | Read More

Land Rover made to go off-road

The Land Rover LR4 HSE is the luxury SUV for those who actually go off-road.

More than just a boxier, gussied-up Jeep, the LR4 is equally at home on any surface. This upscale vehicle does it in style, with a straight-grained walnut-trimmed dashboard surrounded by leather. Leather seats and a leather-wrapped steering wheel work in harmony to polish this off-road beast.

The solidly built LR4 has an integrated body frame made with a boxed steel-ladder foundation and sports permanent four-wheel-drive. Everything about this midsized SUV suggests it is a machine that is well-made.

The flip of a paddle switch causes the electronic air suspension to lift and lower the vehicle. The same system also automatically adjusts to speed and terrain. This is all complimented by the torsion-differential terrain system, independent front and rear suspension, and dynamic stability control which all work in conjunction to keep the LR4 in control and its 19-inch alloy wheels in contact with the road or wherever you're driving.

A tight turning radius allows the LR4 to navigate anywhere, so it is nimble in the densely populated city as well as the country.

An eight-speed electronically controlled transmission uses a single-speed transfer gearbox to accelerate very smoothly, but put the pedal to the medal and you'll pay for it! The LR4 does have an ECO mode that stops and starts the engine at stoplights. While annoying, the ECO mode tries to save you some money on gas. But ultimately, the LR4 averages just 16 mpg.

Another gas saving measure is the speed alarm that alerts you when you exceed a predetermined speed. This feature limits gas consumption — as well as costly speeding tickets.

For comfort and entertainment, the 825-watt Meridian 17-speaker sound system sounds great, but the 7-inch touchscreen display is smallish and the Bluetooth audio streaming is hard to configure. The LR4 is also hampered by a cryptic control layout in an oversized center console that has undersized and needlessly compact buttons.

The console also takes up a lot of space, creating a narrow footwell only compounded by its bulky doors. The dash and console would have more room if it weren't for the ashtray (yes, ashtray) and the somewhat useful powered cooler box. But the cramped feeling is washed away a bit with plenty of headroom and three sunroofs. Two of the "alpine" roofs are fixed, but they let in lots of light.

The LR4 seats five comfortably and there's plenty of storage in the rear. An asymmetrical split tailgate allows great access to the cargo area.

The bottom line is that the LR4 is worth looking into if you are interested in a tony but tough all-terrain SUV.


20.25 | 0 komentar | Read More

SpaceX founder envisions building city on Mars

The serial entrepreneur behind Tesla Motors and the California-based SpaceX believes there are "plenty" of people who would consider a one-way trip to Mars.

Sounding like a cross between Captain Kirk and L. Ron Hubbard, Elon Musk said SpaceX's long-term goal is to establish a "self-sustaining city" on the red planet as a kind a backup for earth.

"The future of humanity will fundamentally bifurcate along the lines of a single-planet species or a multi-planet species," Musk, 43, said at the AeroAstro 100th Anniversary Symposium at MIT. "A multi-planet version of humanity's future is going to last a lot longer ... than if we were a single-planet species."

NASA chose SpaceX as part of the first program to allow private companies to deliver supplies to the International Space Station, but it has yet to send a manned spacecraft to Mars.

"There are some risks ... which we will not be able to mitigate," Musk said. "I think we should do it now because ... the window of technology for this is open. For 1 percent of our resources, we could buy life insurance for us collectively."

Musk acknowledged that space flight today is "ridiculously expensive," and even the likes of Bill Gates and Warren Buffett couldn't afford the estimated $200 billion cost of a Mars spacecraft.

That's why the first Mars explorers would likely send robots. But calling to mind the movie "The Terminator" he warned of the perils of artificial intelligence, calling it "probably our biggest existential threat."


20.25 | 0 komentar | Read More

Voters weigh expansion of bottle deposit law

BOSTON — Both sides in the debate over Question 2 on the Nov. 4 ballot say much has changed in the more than three decades since Massachusetts first passed a bottled deposit law.

Proponents of the measure that would expand the scope of the law say a variety of beverages that were largely unheard-of on store shelves at the time have become consumer staples — all the while adding to the state's litter woes.

"There was virtually no such thing, when you walked into a supermarket, as bottled water, sports drinks, vitamin water or Diet Snapple peach-flavored teas," said Janet Domenitz, executive director of the Massachusetts Public Interest Research Group. "There is this entire market of containers that have become litter or trash because they were not defined in the current law."

But what has also changed, opponents of the ballot question argue, is the way Americans handle the trash they produce. Slow but steady gains in recycling, including municipal programs that pick up recyclable materials in front of people's homes, are making returnable containers unnecessary, they say.

"It's really undermining a system that has evolved and works better than loading up your containers and driving them back to the grocery store," said Nicole Giambusso, spokeswoman for No on Question 2: Stop Forced Deposits. "We should be looking at modern technology and not at something that was created for 1982."

The ballot measure, if approved, would add 5-cent deposits to most non-alcoholic and non-carbonated beverage containers.

It would also allow the nickel deposit — unchanged since the original law was approved — to increase with inflation in future years and require that unclaimed deposits be earmarked for a special state environmental fund.

After trying without success to convince the Massachusetts Legislature to make the changes, activists opted to take their case directly to voters. But the ballot campaign has met with stiff opposition from industry groups that through Oct. 20 had spent more than $8.2 million, much of it on an advertising blitz, according to state campaign finance records.

By contrast, a coalition of environmental groups supporting Question 2 had collectively spent about $900,000.

The opposition has been largely funded by supermarket chains, which would have to deal with the added volume of extra containers being returned, and the Washington-based American Beverage Association, which lobbies for soft drink companies.

A TV ad run by opponents that claimed 90 percent of Massachusetts residents have access to curbside recycling was fiercely challenged by backers of the ballot question, who cite state figures showing that only 47.5 percent of cities and towns, covering about 63 percent of the state's population, offer curbside recycling.

"They went on the air and lied," said Domenitz.

Opponents denied misleading voters, though later ads against Question 2 used revised language, saying 90 percent of residents had access to curbside or other "community recycling."

Expanding the bottle deposit law would hike prices for beverages and add millions in handling costs for bottle returns, in part because of the need to purchase new equipment to handle different-sized containers, Giambusso said.

Environmental groups embrace curbside recycling but also point to its limitations. It doesn't account for beverages consumed in parks, on beaches or any number of other places outside the home, Domenitz said.

Citing estimates from the state Department of Environmental Protection, the Coalition for an Updated Bottle Bill says 80 percent of carbonated beverage containers have been either redeemed or recycled over the past five years, while the recycling rate for containers not subject to the current deposit law is only 23 percent.


20.25 | 0 komentar | Read More

The Ticker

Written By Unknown on Jumat, 24 Oktober 2014 | 20.25

N.H. co. settles with Apple

A New Hampshire company that was manufacturing synthetic sapphire glass has reached a settlement with Apple, but at the expense of layoffs at its facilities in Salem and New Hampshire.

GT Advanced Technologies said in a statement yesterday it will "wind down" its sapphire production in Salem and Mesa, Ariz., under a settlement with Apple that is part of the company's ongoing Chapter 11 bankruptcy proceedings.

GT has laid off 650 workers in its Arizona plant and six employees in Salem. The Salem facility will remain open, but a number of positions will be transferred to its Merrimack, N.H., headquarters.

MBTA launches Green Line tracking

The MBTA began providing real-time information on the Green Line yesterday for the first time in the line's 
117-year history. Real-time data on the location of Green Line trains is now fed to the dozens of MBTA real-time apps. This will mark the completion of the first phase of a multi-phase project to provide real-time information and predictions to the Green Line's 227,000 daily riders.

Raytheon reports $515M in net income

Raytheon Co. yesterday reported third-quarter net income of $515 million.

On a per-share basis, the Waltham company said it had a profit of $1.65, beating Wall Street expectations.

The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The defense contractor posted revenue of 
$5.47 billion in the period, which missed Street forecasts. Analysts expected $5.62 billion, according to Zacks.

Lynch donates $50G to foundation

The New England Chapter of the Network for Teaching Entrepreneurship announced it has received a $50,000 donation from the Barbara Lynch Foundation. The Hub restaurateur's donation will be used to specifically expand NFTE's programming within Boston schools, including Charlestown High School, the Josiah Quincy School, Boston International High School and West Roxbury Academy.

Today

  • Commerce Department releases new home sales for September.
  • State Street Global Advisors, the asset management business of State Street Corp., has announced the appointment of Lori Heinel as chief portfolio strategist. In this newly created position, Heinel will oversee a global team of 20 investment professionals dedicated to communicating information about investment strategies and solutions to prospects, clients and consultants. A 30-year industry veteran, Heinel most recently served as chief investment strategist for OppenheimerFunds Inc., where she oversaw product management, product development and investment thought leadership.

20.25 | 0 komentar | Read More

Lumiere shines light on high-end Medford site

A large site across from the Mystic River Reservation in Medford is being turned into the area's latest luxury apartment development with views across the river to the Boston skyline.

The 164-unit Lumiere is about a mile from the Wellington Orange Line T Station, and sits on the site of a former car dealership. The first 48-apartment phase has just opened, with 18 of the units leased. The final two phases will be finished in December and February.

The Lumiere is in the same apartment submarket as Station Landing in Medford and Assembly Row in Somerville, but without the urban village feel.

"People who go there get the hustle and bustle, but those who rent here want a little more tranquility," said Lumiere property man­ager Robin Boersner, citing nearby walking and cycling trails and kayaking on the river. "We're across from a natural retreat."

Waltham- and Dallas-based Criterion Development Partners also recently built the Rivers Edge apartments near Wellington, but the Lumiere is targeting a higher-end market.

"Criterion wanted to create a real upscale feel at the Lumiere, with larger apartments and higher quality finishes than the competition," said Michelle Tomasetti, director of marketing for Winn­Residential, which is managing the development.

All apartments have 9- to 10-foot ceilings and tall windows, kitchens with Silestone countertops and islands, and two-tone zebrawood and white cabinetry. The master bedroom suites have spacious walk-in closets and soaking tubs in the en-suite tiled bathrooms. Fifth-floor apartments have gas fireplaces and some units have hardwood floors throughout. Most have sliding-glass doors to private balconies.

Studios at the Lumiere, with 623 square feet, start at $1,829, one bedrooms, from 690 to 840 square feet, range from $2,071 to $2,688 and two bedrooms, with 1,038-1,301 square feet, go for $2,655 to $3,033. All apartments have in-unit washers and dryers.

And each comes with one garage parking space, with additional spaces available at $100 apiece. The complex is currently offering a leasing­ concession of one free month's rent.

While the apartments have earthy tones, the common-­area finishes — starting with a striking white marble tile wall in the entry foyer — go for a bolder, contemporary look.

"There's a lot of texture with bright colors to give the amenity spaces a boutique hotel feel," Boersner said.

The second-floor common spaces take advantage of Mystic River and Boston skyline views. The Lookout Lounge has wraparound windows and glass mosaic tile walls, and features a full high-end kitchen for tenant use as well as a clubroom with a two-sided gas fireplace and a billiards table.

This room opens onto an outdoor courtyard, one of two in the complex, which features a heated pool and a sundeck. There's also a fitness facility, a Wi-Fi conference room and a dedicated room for gaming­ consoles. The second courtyard will feature a "green" community garden.

The pet-friendly Lumiere is going for a LEED designation, and has other green features such as LED lighting as well as electric car- charging stations.

"What we're offering is elegance with an edgy touch," Tomasetti said.


20.25 | 0 komentar | Read More

Pipeline ‘consumer’ advocates are gas industry insiders

A new group that claims to advocate for consumers by pushing for natural gas pipeline construction as a way to cut rising electricity costs is made up of industry insiders.

Anthony Buxton, general counsel and spokesman for the Coalition to Lower Energy Costs, is a registered energy industry lobbyist in Maine, where he represents Tennessee Gas Pipeline Co., a Kinder Morgan Energy Partners subsidiary that wants Maine ratepayers to subsidize a proposed natural gas pipeline from New York to Dracut. However, Buxton said he is not involved in the Massachusetts project.

Barbara Kates-Garnick, the coalition's senior energy policy adviser, is a former executive at KeySpan and National Grid, and former commissioner of the Department of Public Utilities.

Buxton, who confirmed his industry links, denied the coalition is a front for the industry, saying it wants to increase the supply of natural gas to New England, thereby "dramatically" lowering energy costs.

When asked who would pay for such a pipeline, Buxton said: "Ratepayers would pay for the pipeline over time, but would recoup those costs in electricity savings."

But Greg Cunningham, senior attorney at the Conservation Law Foundation, said ratepayers don't need a pipeline in Massachusetts because there already are incremental pipeline expansions in the final stages of approval that would bring relief to consumers years before any Tennessee Gas pipeline could be built.

"They (the coalition) say (their proposal) would benefit citizens, as if they represent the citizens," he said. "They represent a multi-billion corporation that is pushing an estimated $3- to $6-billion pipeline that it wants to be paid for by consumers."


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Amazon’s new Kindles a perfect read

The new Kindle Voyage is the perfect binge-reader.

It proves that the iPad isn't for bookworms anymore, because even the most old-school lover of dead trees should take a look at the Voyage, which takes all the best aspects of Amazon's previous e-readers and rolls them into the best digital book experience on the market.

While the iPad is still king of the tablet market with about 30 percent marketshare, Amazon has steadfastly catered to people who love to read. It's a strategy that should pay off this holiday shopping season with impressive sales of this impressive product.

The ultra-thin, 7 mm device starts at $200 and costs $290 for the 3G model, a price reflective of a super-luxe and refined style.

Like the excellent Kindle Paperwhite, the Voyage has a unique lighting system that directs light from the screen itself down onto the ink — just like a light in the room would reflect off a piece of paper — very cool technology that doesn't strain your eyes.

At 300 pixels per inch, the same as the printed page, reading on the Voyage is literally like reading a book.

The Kindle Voyage is an electronic reading device that melts away, with alerts and annoyances muted while you read, excellent battery life and very little bezel. The buttons for the next and last page are capacitive, so you can hold the Kindle anywhere without fear of triggering them.

A magnetic latch cover with a built-in stand makes it easy to take a book to bed.

A particularly awesome feature is Kindle X-Ray, which helps with instant word definitions and information about obscure characters and themes.

It's worth noting that Amazon also has a winner with the Kindle Fire HD Kids Edition, the first tablet for children that's worth a try. It costs $149 for the 6-inch version and $189 for the 7-inch base model. The price includes a one-year subscription to 5,000 games, videos, and books for kids. A rugged protective case and two-year, no-questions-asked warranty rounds out that excellent offering.

Both the Voyage and Fire for kids are evidence that Amazon should stick to the things that made it great — namely, books.


20.25 | 0 komentar | Read More

Dunkin' Donuts counting fewer beans

Weak consumer spending and increased competition for their breakfast business yesterday prompted the parent company of Dunkin' Donuts to warn that it might miss sales forecasts.

It will be a "challenge" for Canton-based Dunkin' Brands to achieve the low end of its targeted 2 percent to 3 percent increase in comparable-store sales at U.S. Dunkin' locations, chairman and CEO Nigel Travis said in an earnings call with analysts.

"Dunkin' Donuts U.S. third-quarter (comparable store sales) of 2 percent did improve slightly over the second quarter even if we continue to feel the impact from an ongoing sluggish economy and a highly competitive QSR (quick-service restaurant) breakfast and coffee environment," Travis said. "We've faced some headwinds this year on Dunkin' Donuts U.S. stores."

Comparable store sales are considered an important performance measure. They reflect sales at stores open 54 weeks or more and exclude recently opened or closed stores.

Travis said he is "concerned" about consumers.

"I'd like to think that they were going to be encouraged by gas prices going down," he said. "That doesn't seem to have happened to anyone yet."

Dunkin' is facing competitive pressures — including price competition — from casual dining chains and fellow quick-service chains such as McDonald's.

Breakfast and coffee are strong growth categories in the restaurant business, and more and more companies are looking to get their piece of the pie, said Sharon Zackfia of William Blair & Co. "Particularly with soft drink consumption kind of declining and other (parts of the day) providing challenges for many restaurant operators, breakfast is pretty enticing," she said. "It's growing, and it's pretty habitual. "

Dunkin' maintained its full-year earnings-per-share guidance of $1.73 to $1.77.

Its earnings growth is primarily driven by development, and that remains very healthy for U.S. Dunkin' locations, and franchisee profitability is at all-time highs, Zackfia said.

Dunkin' shares, which fell as much as 6.7 percent yesterday, closed at $44, down 5.96 percent.

"The shares have under-performed their (QSR) and broader restaurant industry peers year-to-date," Barclays analyst Jeffrey Bernstein said in a research report. But, he noted, "Despite the near-term headwinds, we continue to believe Dunkin' is a strong long-term growth story."


20.25 | 0 komentar | Read More

US consumer prices rose 0.1 percent in September

Written By Unknown on Rabu, 22 Oktober 2014 | 20.26

WASHINGTON — U.S. consumer prices edged up slightly in September, with the overall increase held back by a third straight monthly decline in gasoline prices. The tiny gain was the latest evidence that inflation remains benign.

Consumer prices rose 0.1 percent after having falling 0.2 percent in August, the Labor Department reported Wednesday. Core prices, which exclude volatile food and energy, also climbed 0.1 percent after no gain in August.

Over the past 12 months, both overall and core prices are up 1.7 percent. The increases are well below the 2 percent target for inflation set by the Federal Reserve. The modest inflationary pressures have allowed the central bank to keep interest rates at record lows to boost the economy.

Analysts said the big drop in energy prices should hold down inflation in the months ahead and provide more maneuvering room for the Fed. Many economists don't expect the Fed to raise its key short-term rate until June of next year.

"The softer inflation outlook gives more ammunition to those Fed officials who would prefer to wait longer before raising rates," said Paul Dales, senior U.S. economist at Capital Economics.

While low inflation has given the Fed leeway to keep interest rates low, it represents a hardship for savers. It also means millions of Americans who receive Social Security benefits get lower cost of living adjustments. The government announced Wednesday that based on inflation over the past year, benefits will increase 1.7 percent in January, the fifth time in the past six years that the benefit increase has been under 2 percent.

Food costs rose 0.3 percent in September and are up 3 percent over the past 12 months, exacerbated by drought conditions in parts of the country. Beef and veal prices jumped 2 percent in September and are up 16.7 percent since January.

Energy prices fell 0.7 percent, the third consecutive monthly drop. The index includes a third decline in gasoline prices, which fell 1 percent in September and are down 3.6 percent from a year earlier.

A plunge in global oil prices in recent weeks is expected to keep downward pressure on energy prices. Oil is trading below $85 per barrel now, down about 27 percent from its high point this year, giving people a big break at the pump. The AAA says that the nationwide average for gas is now $3.09, down 25 cents in just the past month.

Airline fares fell 0.5 percent in September, and some analysts predicted even bigger declines in the months ahead.

Economists are optimistic that lower energy prices will help fuel consumer spending in coming months. If consumers are spending less filling up their tanks, they tend to spend more on other items.

The Fed seeks to promote maximum employment and stable prices. Price increases measured by the Fed's favorite inflation gauge have been running below 2 percent for two years.


20.26 | 0 komentar | Read More

Passenger jets push Boeing's profit up 18 percent

NEW YORK — Robust demand for commercial jets and an increased pace of production helped Boeing earn $1.36 billion in the third quarter, up 18 percent from the same period last year.

On a per-share basis, the Chicago-based company said it had a profit of $1.86. Adjusted for non-operating costs, earnings came to $2.14 per share, better than the average estimate of $1.95 per share from analysts surveyed by Zacks Investment Research.

Boeing Co. is benefiting, in part, from a record jet-buying spree by airlines, driven by cheap financing and a growing number of global fliers. In the past quarter alone, Boeing booked 501 net plane orders, bringing its backlog up to more than 5,500 airplanes valued at a record $430 billion.

The company is also increasing its production rates, helping to improve its cash flow. During the quarter, Boeing delivered 186 commercial jets, up from 170 during the same period last year.

So far this year, 528 new planes have rolled off Boeing assembly lines, compared to 476 during the first nine months of 2013. The vast majority of that increase comes from its popular 737 — a single-aisle plane that is the workhorse of airlines around the globe — and the 787 Dreamliner, a lightweight fuel-saving aircraft that had numerous delays and hiccups. Boeing 787 customers took delivery of 31 jets in the past three months.

The commercial jet revenue was slightly offset by Boeing's military arm, which saw its revenue fall 1.7 percent to $7.91 billion. The company did benefit from doubling deliveries of its P-8 Poseidon jet, a modified version of the 737, to four aircraft. However, fewer government satellite launches pulled down its space systems revenue.

Overall, the aerospace and defense company had revenue of $23.78 billion in the period, also topping Wall Street forecasts. Analysts expected $23.04 billion, according to Zacks.

Looking ahead, the company increased its outlook for full-year core earnings per share — excluding non-operating costs such as pensions — by 20 cents to a range of $8.10 to $8.30 per share. The forecast for revenue remains in a range of $87.5 billion to $90.5 billion.

Boeing shares rose 8 cents to $127.20 in premarket trading. The shares have fallen almost 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent. The stock has risen roughly 5 percent in the last 12 months.

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Scott Mayerowitz can be reached at http://twitter.com/GlobeTrotScott.


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Total acts swiftly to replace CEO killed in crash

PARIS — French oil giant Total SA has named Patrick Pouyanne as chief executive to replace Christophe de Margerie, who was killed earlier this week in a plane crash in Moscow.

Barely 36 hours after de Margerie's death, Total's board chose Pouyanne, 51, at a board meeting Wednesday. The swift appointment indicates the board's desire to limit the uncertainty on one of France's biggest companies. In its statement, Total's board hailed De Margerie's "exceptional human and professional qualities."

Pouyanne has led Total's refining and chemicals division since 2012. He has been with Total since 1997, starting off as head of exploration and production in Angola.

In addition, Total said Thierry Desmarest, who was chief executive from 1995 to 2007 and honorary president of the board of directors since 2010, would become chairman of the company until the end of 2015. Pouyanne will combine the roles of CEO and board president after that.

Pouyanne is a graduate of two of France's top engineering schools, Ecole Polytechnique and Ecole des Mines. He's been a member of Total's 28-member management committee since May, 2006, and joined the seven-member executive committee in 2012.

De Margie was killed when his Dassault Falcon 50 business jet clipped a snowplow on takeoff late Monday at Vnukovo Airport in Moscow. The accident also killed three French crew members on board. Investigators are questioning the snowplow's driver, who they say was drunk at the time, a charge his lawyer has denied. They have also said they are looking into the role of air traffic controllers and the airport's managers.

Total is France's second-largest listed company by market value and employs around 100,000 people around the world, making it one of France's largest private sector employers.

Total's share price was down 0.3 percent in lunchtime trading in Paris.


20.26 | 0 komentar | Read More

Government ups air bag warning to 7.8M vehicles

DETROIT — The U.S. government is adding more than 3 million vehicles to a rare warning about faulty air bags that have the potential to kill or injure drivers or passengers in a crash.

The National Highway Traffic Safety Administration on Wednesday put out a new list of vehicles, increasing the number from 4.7 million to 7.8 million. The agency urged people to get their cars repaired if they're being recalled, especially in Florida and along the Gulf Coast.

The air bag inflators made by parts supplier Takata can rupture, causing metal fragments to fly out when the bags are inflated. Safety advocates say at least four people have died from the problem.

The warning covers many models from BMW, Chrysler, Ford, General Motors, Mazda, Honda, Mitsubishi, Nissan, Subaru and Toyota.


20.26 | 0 komentar | Read More

Social Security benefits to go up by 1.7 percent

WASHINGTON — Millions of older Americans who rely on federal benefits will get a 1.7 percent increase in their monthly payments next year, the government announced Wednesday.

It's the third year in a row the increase will be less than 2 percent.

The annual cost-of-living adjustment, or COLA, affects payments to more than 70 million Social Security recipients, disabled veterans and federal retirees. That's more than a fifth of the country.

The increase amounts to about $20 a month for the typical Social Security recipient.

"The COLA helps beneficiaries of all ages maintain their standard of living, keeping many from falling into poverty by providing partial protection against inflation," said Jo Ann Jenkins, who heads AARP.

The government announced the benefit increase Wednesday, when it released the latest measure of consumer prices. By law, the increase is based on inflation, which is well below historical averages so far this year.

For example, gasoline prices have dropped over the past year while the cost of clothing is up by less than 1 percent, according to the September inflation report released Wednesday.

The cost of meat, fish and eggs is up by nearly 10 percent, but the overall cost of food is up just 3.1 percent.

Medical costs, which disproportionately affect older Americans, are up 1.9 percent over the past year.

Congress enacted automatic increases for Social Security beneficiaries in 1975, when inflation was high and there was a lot of pressure to regularly raise benefits.

For the first 35 years, the COLA was less than 2 percent only three times. Next year, the COLA will be less than 2 percent for the fifth time in six years. This year's increase was 1.5 percent, the year before it was 1.7 percent.

Social Security is financed by a 12.4 percent payroll tax on the first $117,000 of a worker's wages — half is paid by the worker and half is paid by the employer. Next year, the wage cap will increase to $118,500, the Social Security Administration said.

About 59 million retirees, disabled workers, spouses and children get Social Security benefits. The average monthly payment is $1,192.

The COLA also affects benefits for about 4 million disabled veterans, 2.5 million federal retirees and their survivors, and more than 8 million people who get Supplemental Security Income, the disability program for the poor.

By law, the cost-of-living adjustment is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, a broad measure of consumer prices generated by the Bureau of Labor Statistics. It measures price changes for food, housing, clothing, transportation, energy, medical care, recreation and education.

The COLA is calculated by comparing consumer prices in July, August and September each year with prices in the same three months from the previous year. If prices go up over the course of the year, benefits go up, starting with payments delivered in January.

"In the last several years we have had extremely low inflation," said economist Polina Vlasenko, a research fellow at the American Institute for Economic Research. "Basically because inflation is low, the cost-of-living adjustment is going to be low, too. It's supposed to just compensate you for inflation."

Advocates for seniors say the government's measure of inflation doesn't accurately reflect price increases faced by older Americans because they tend to spend more of their income on health care. The rise in medical costs has slowed in recent years, but people hit with serious illnesses can still see their individual costs soar.

People on Medicare, the government health insurance program for older Americans, usually have their Part B premiums deducted from Social Security payments. The premiums, which cover outpatient care, are scheduled to stay the same next year — $104.90 a month.

However, federal retirees face a 3.8 percent increase in their health insurance premiums next year, said Joseph A. Beaudoin, president of the National Active and Retired Federal Employees Association.

"News of the cost-of-living adjustment for the coming year always is eagerly awaited by the countless Americans who rely on the increase to keep up with the rising price of food, housing, transportation and medical care," Beaudoin said in a statement. "However, despite the partial relief this COLA will provide, the announcement is a reminder that our method for calculating the increasing cost of goods and services is out of sync with the reality faced by millions of federal (retirees), Social Security recipients and military retirees."

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Follow Stephen Ohlemacher on Twitter at http://twitter.com/stephenatap

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Associated Press Writer Martin Crutsinger contributed to this story.


20.26 | 0 komentar | Read More

America says no to cappuccino potato chips

Written By Unknown on Selasa, 21 Oktober 2014 | 20.25

NEW YORK — America has rejected the idea of cappuccino-flavored Lay's potato chips.

Frito-Lay says Wasabi Ginger won its contest that gives people a chance to create a new flavor, beating out the coffee-flavored chips and the two other finalists — Mango Salsa and Cheddar Bacon Mac & Cheese. Parent company PepsiCo Inc. says about 1 million total votes were cast online for the Do Us A Flavor promotion, a sales driver it has launched in more than a dozen countries.

In the U.S., bags of the four finalist flavors hit shelves in late July and people were able to vote on Facebook and Twitter for their favorites through this past weekend. It was the second year for the U.S. contest, which is designed to send customers to stores in search of the flavors. Last year's winner, Cheesy Garlic Bread, is still on shelves.

The winner, Meneko Spigner McBeth, was to be informed at a dinner for finalists Monday night in New York City, with an announcement from the company expected Tuesday. McBeth, a registered nurse from Deptford, New Jersey, will get $1 million or a portion of a year in sales, whichever figure is larger.

Ram Krishnan, Frito-Lay's chief marketing officer, said this year's winner is evidence Americans want more ethnic flavors, even though the top four Lay's flavors remain Original, Barbecue, Cheddar & Sour Cream and Sour Cream & Onion. He said he couldn't have imagined Lay's selling a Wasabi Ginger flavor when he joined the company eight years ago.

"We're kind of getting into a new flavor territory," Krishnan said. "When I went to school, Mexican food was exotic."

As for the cappuccino flavor — which was described as "NASTY" and "gross" in some comments on Lay's Facebook page — Krishnan defended its performance, although he wouldn't say how many votes it got.

"The fact that it made it out of our selection process to make it to the final four is no small feat," he said.

The contest began in the United Kingdom, where Frito-Lay sells chips under the Walkers brand. Since then, it was launched in 14 countries before coming to the U.S. last year. Winning flavors in other countries include Pizza in Saudi Arabia, Shrimp in Egypt, Sunday Roast in New Zealand, Pickled Cucumber in Serbia and Aline's Caesar Salad in Australia.

Given its success, Krishnan said the company is looking to launch the contest in other countries as well.

Krishnan wouldn't specify how much of a sales lift the contest provides. But in the latest quarter that ended Sept. 6, PepsiCo, based in Purchase, New York, said revenue for its Frito-Lay North America division rose 3 percent, reflecting a 2 percent gain in volume and 1 percent gain from higher prices.

___

Follow Candice Choi at http://www.twitter.com/candicechoi


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CVS develops tobacco-free prescription network

First, CVS Health pulled tobacco from its store shelves. Now, it plans to make some customers think twice about filling prescriptions at other stores that still sell smokes.

The nation's second-largest drugstore chain is developing a new tobacco-free pharmacy network for clients of its Caremark pharmacy benefits management business.

The network would slap an extra co-payment on patients who fill their prescriptions at stores that still sell tobacco. That payment won't apply to prescriptions filled in the tobacco-free network, which would include CVS and Target locations nationally, as well as other pharmacies that abstain. Target Corp. gave up tobacco sales in 1996.

Rival national drugstore chains Walgreen Co. and Rite Aid Corp. still sell tobacco.

Pharmacy benefits managers, or PBMs, run prescription drug plans for employers, insurers and other customers. They process mail-order prescriptions and handle bills for prescriptions filled at retail pharmacies.

CVS spokeswoman Carolyn Castel said her company developed the new network after several PBM customers asked for it. The tobacco-free network will only be used by the PBM customers that choose it.

"It's not across the board," she said, adding that the size of the extra co-payment would vary according to client.

The new network will start next year, and customers will receive a list of participating pharmacies before any network change takes place.

CVS announced in February that it would remove tobacco products from its more than 7,700 drugstores nationally to help sharpen its focus on health. It completed that task in September, when it also announced that it would change its name to CVS Health from CVS Caremark.

Drugstore chains, grocers and big retailers like Target have delved deeper into customer health in recent years, in part to serve the aging baby boom generation and the millions of uninsured people who are expected to gain coverage under the federal health care overhaul. They've been adding walk-in clinics to their stores, expanding the care they provide, and putting more health care products on their shelves.

CVS has said it might lose about $2 billion in revenue annually after removing tobacco, but company leaders expect to counter that loss at least partially by expanding the company's health care business.

Wall Street has yet to express misgivings about the lost revenue. Shares of CVS Health closed at $81.76 on Monday and have climbed about 24 percent since the company announced its split with tobacco. That's nearly triple the rise of the Standard & Poor's 500 index over the same span.


20.25 | 0 komentar | Read More

Apple beats Q3 earnings estimates, as Wall Street eyes huge iPhone sales pipeline

Apple handily beat analyst expectations for its September quarter, as the tech giant reported sales of 39.3 million iPhones -- and Wall Street anticipating an even bigger surge for the smartphone business during the 2014 holiday shopping season.

The company posted revenue of $42.1 billion and earnings per share of $1.42 for fiscal fourth quarter of 2014, which ended in late September. Financial analysts' consensus estimates for the period were $39.9 billion in revenue and $1.30 per share in earnings.

In the most recent quarter, Apple bowed two new larger-size smartphone models -- the iPhone 6 and 6 Plus -- and the company boasted a record 10 million units sold the first weekend they went on sale in mid-September.

Analysts expect Apple to deliver record-breaking iPhone sales in the current quarter, given that the new models were available during only two weeks of its fiscal Q4 and weren't available in all international markets.

In the December quarter, Apple could sell 73 million to 75 million iPhones worldwide, according to Rosenblatt Securities' Brian Blair estimates; others were more conservative, with Piper Jaffray's Gene Munster forecasting between 56.7 million and 62.7 million unit sales. Apple scored its biggest quarter for iPhone sales in the three months ended Dec. 28, 2013, when it sold 51 million smartphones.

Last week, Apple unveiled two new iPad tablets -- the iPad Air 2 and iPad Mini 3 -- which went on sale online Oct. 17.

Meanwhile, the Apple Pay mobile-payment service went live Monday in the U.S. via the iOS 8.1 update. Apple Pay supports credit and debit cards from American Express, MasterCard and Visa issued by major banks, with multiple retailers opting into the service.

© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC


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Customer decline hits McDonald's sales, profit

NEW YORK — McDonald's says its profit and sales declined as the world's biggest hamburger chain saw customer traffic fall around the world.

The company said sales fell 3.3 percent globally and in the U.S. during the third quarter. In the region encompassing Asia, where a major McDonald's supplier was shown on TV repackaging expired beef, the figure fell 9.9 percent.

"By all measures our performance fell short of our expectations," CEO Don Thompson said.

In the U.S., McDonald's Corp. is fighting to hold onto customers amid intensifying competition and shifting tastes toward food people consider more wholesome. Chipotle, which touts the quality of its ingredients, said Monday that its sales rose 19.8 percent at established locations. Steve Ells, co-CEO of the Mexican food chain, said the results show people are realizing "there are better alternatives to traditional fast food" and that he expects the trend to continue.

To improve its performance, McDonald's said it plans to focus on a simplified menu and revamp its marketing to stress its food quality.

Last week, for instance, McDonald's launched a social media campaign inviting customers to ask questions about its food. It began with frank questions like, "Why doesn't your food rot?" and "Is the McRib made from real pork?", showing just how bad some of the perceptions about McDonald's food can be.

Affordability is another issue, with Thompson noting that the people who tend to go to McDonald's are struggling more financially than customers who might go to other chains.

Over in China, an undercover TV report this summer showed one of its major suppliers repackaging expired meat. The plant stopped operations and many of McDonald's restaurants in the country were left unable to sell burgers, chicken nuggets and other items. The chain's reputation took a hit as well.

For the quarter, revenue declined to $6.99 billion, short of the $7.23 billion Wall Street expected. Net income declined to $1.07 billion, or $1.09 per share. Adjusted for one-time costs, earnings were $1.52 per share. Analysts expected $1.37 per share.

Shares of McDonald's were down 2 percent at $89.60.


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WHO: Ebola vaccine trials in W. Africa in January

GENEVA — The hunt for an Ebola vaccine will produce data soon about whether two experimental vaccines are safe and could lead to larger medical trials in West Africa by January, a top World Health Organization official said Tuesday.

Dr Marie Paule Kieny, an assistant director general for WHO, said clinical trials either planned or underway in Europe, Africa and the U.S. are expected to produce preliminary safety data by December. In the meantime, she said, governments are pushing for immediate "real-world use" of an approved Ebola vaccine.

She told reporters Tuesday in Geneva there are two leading candidates for a vaccine. If the vaccines are deemed safe, tens of thousands of doses will be used in trials in West Africa beginning in January to test their effectiveness, she said.

One of those vaccines, developed by the U.S. National Institutes of Health and GlaxoSmithKline from a modified chimpanzee cold virus and an Ebola protein, is in clinical trials in the U.K. and in Mali. It will be used in clinical trials in Lausanne, Switzerland, by the start of February.

The second front-runner, developed by the Public Health Agency of Canada and known as VSV-EBOV, has been sent to the U.S. Walter Reed Army Institute of Research in Maryland for testing on healthy volunteers, with results expected by December. The next stage would be to test it more broadly, including among those directly handling Ebola cases in West Africa.

Canada has donated 800 vials of the experimental vaccine to WHO but the shipment was delayed by a Lufthansa pilots strike. It is now expected to arrive in Switzerland on Wednesday for testing coordinated by the U.N. health agency among volunteers at the University Hospital of Geneva, and volunteers in Hamburg, Germany, and in Gabon and Kenya, Kieny said.

"These data are absolutely crucial to allow decision-making on what dose level should go in the efficacy testing in Africa," she said, referring to plans for the broader testing starting in 2015.

At a separate news conference, WHO spokeswoman Fadela Chaib promised a thorough public audit of the agency's early missteps in responding to the Ebola outbreak that has already killed over 4,500 people.

"There is certainly a wish and a will to have this review," she said. "We know many elements need to be explained in the future. ... WHO will do that, but in the future; now our focus is on the response."


20.25 | 0 komentar | Read More

IBM to pay $1.5B to shed its costly chip division

Written By Unknown on Senin, 20 Oktober 2014 | 20.25

NEW YORK — IBM will pay $1.5 billion to Globalfoundries in order to shed its costly chip division.

IBM Director of Research John E. Kelly III said in an interview Monday that handing over control of the semiconductor operations will allow it to grow faster, while IBM continues to invest in and expand its chip research.

IBM will make payments to the chipmaker over three years, but it took a $4.7 billion charge for the third quarter when it reported earnings Monday.

The company fell short of Wall Street profit expectations and revenue slid 4 percent, sending shares down 8 percent before the opening bell.

The tech sector is under heavy pressure in early trading, with IBM, Microsoft Corp., Intel Corp. and Cisco all moving lower.

Privately held Globalfoundries will get IBM's global commercial semiconductor technology business, including intellectual property and technologies related to IBM Microelectronics. It also gets IBM's semiconductor manufacturing operations and plants in East Fishkill, New York and Essex Junction, Vermont, as well as access to thousands of patents and IBM's commercial microelectronics business.

Globalfoundries said that it plans to employ substantially all IBM workers at the East Fishkill and Essex Junction plants, except for a team of semiconductor server group employees who will stay with IBM.

Under the agreement, Globalfoundries will become IBM's exclusive server processor semiconductor technology provider for 22 nanometer (nm), 14nm and 10nm semiconductors for the next 10 years. Globalfoundries was spun off from Advanced Micro Devices in 2009 to handle chip production.

IBM said handing over the chip division will allow it to concentrate on fundamental semiconductor research and the development of future cloud, mobile, big data analytics, and secure transaction-optimized systems.

The transaction is expected to close next year.

On Monday, IBM reported that its adjusted earnings from continuing operations were $3.68 per share, while revenue totaled $22.4 billion. The performance missed the expectations of analysts polled by FactSet, who predicted earnings of $4.32 per share on revenue of $23.39 billion.

Shares of International Business Machines Corp., based in Armonk, fell $14.35 to $167.70 in premarket trading.


20.25 | 0 komentar | Read More

Sears plans to raise more cash via rights offering

HOFFMAN ESTATES, Ill. — Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million.

The company, which runs Kmart and its namesake stores, also said Monday that it struck a leasing deal with European fashion retailer Primark.

Sears has been cutting costs, reducing inventory and selling assets to return to profitability. Its biggest albatross remains its stores, which critics say are outdated and shabby.

Chairman and CEO Edward Lampert combined Sears and Kmart in 2005 about two years after he helped bring Kmart out from under bankruptcy protection. The company has since faced mounting pressure from nimbler rivals like Wal-Mart Stores and Home Depot.

Sears is also facing broader structural issues. Like other stores catering to the low- to middle-income customers, Sears is grappling with a slowly recovering economy that's not benefiting all Americans equally. It's also trying to catch up to customers who are steering clear of stores and shopping online.

Sears Holdings Corp. said the rights offering will allow its stockholders to buy up to $625 million senior unsecured notes due 2019 and warrants to buy shares of its common stock. It anticipates up to $625 million in proceeds if the offering is fully subscribed and closes as planned.

The proceeds will be used for general corporate purposes.

Sears' lease agreements with Primark are for seven stand-alone stores in malls. Sears will still have a significant presence at six of the locations. Primark will lease about 400,000 net square feet of retail space in the Northeastern U.S. and is expected to receive the space over the next 12 to 18 months.

Earlier this month Sears said it would sell most of its stake in its Canadian unit to raise as much as $380 million. The Hoffman Estates, Illinois, company also has a $500 million dividend tied to the spinoff of Lands' End, $165 million in proceeds from some real estate transactions and a $400 million short-term loan, which is helping to bolster its fiscal 2014 liquidity.

Shares of Sears finished at $28.41 on Friday. Its shares have fallen 41 percent since the beginning of the year.


20.25 | 0 komentar | Read More

Survey: Pay raises rarer despite strong US hiring

WASHINGTON — U.S. businesses were much less likely to boost pay in the third quarter than in previous months, even as hiring remained healthy, a sign that wage gains may remain weak in the coming months.

A quarterly survey by the National Association for Business Economics found that only 24 percent of companies increased wages and salaries in the July-September quarter. That's down from 43 percent in the April-June quarter and the first drop after three straight increases.

Yet the firms still added jobs at a healthy pace, which usually pushes wages higher as employers compete for workers. A measure of hiring in the survey dipped in the third quarter but remained near a three-year high. The figures suggest that the number of people out of work remains high enough that companies aren't under any pressure to raise pay.

And just one-third of respondents said they expect their companies will boost wages in the October-December quarter, about the same proportion as three months ago.

Despite healthy job gains this year, there were still 9.3 million people unemployed in September, according to government data. That's up from 7.6 million before the Great Recession. More than 7 million Americans are working part-time but are looking for full-time work, which gives employers an even larger pool of potential employees to choose from.

The NABE surveyed 76 of its member economists in late September. The economists work for companies or private trade associations.

Weaker sales and profits may have also made companies reluctant to boost pay. Just 49 percent of respondents said their company's sales rose in the third quarter, down from 57 percent in the second quarter and the smallest proportion in a year.

Profits also were squeezed, with 14 percent of firms reporting smaller profit margins. That was the largest proportion to do so in a year.

The survey's other findings included:

— Respondents were only modestly concerned about slower growth in Europe. Only 7 percent of firms said a slowdown there would have a significant negative effect, while 44 percent said it would have a minor negative effect. Forty-six percent said it would have no impact and just 3 percent said it would have a minor positive effect. Still, the survey was conducted before weak economic data from the region caused sharp drops in U.S. stock markets in the past two weeks.

— More than three-quarters of economists surveyed expect the Federal Reserve will begin raising its benchmark short-term interest rate in the second quarter of 2015. Still, 84 percent said a small increase in rates in the short-term wouldn't hurt their businesses.

— Two-thirds of the firms said they are having no difficulty filling their open jobs, a good sign for hiring. Government data shows that job openings are at the highest level in nearly 14 years. Some economists worry that many of the unemployed don't have the skills needed for the jobs that are available. But the NABE survey suggests that companies are mostly able to fill their available jobs. That's also probably a reason that wages increases are less common. If companies were having more difficulty hiring workers, they might offer higher salaries.


20.25 | 0 komentar | Read More

European markets fail to pick up Asia's baton

Global stock markets remained volatile Monday as European indexes failed to pick up Asia's baton and posted more big falls. Wall Street was also poised for further selling at the open following an end-of-week rally.

KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares was down 1 percent at 6,246 while Germany's DAX fell 1.4 percent to 8,724. The CAC-40 in France was 1.3 percent lower at 3,983. For the U.S., Dow futures were pointing to a 0.6 percent retreat at the bell while the broader S&P 500 futures indicated a 0.4 percent reverse.

JITTERS REMAIN: With the economic newsflow light Monday, investor nerves remain frayed. Last week, markets were extremely volatile as investors fretted over a combination of factors such as the economic stagnation in Europe, higher interest rates in the U.S. and waning growth in China. Figures over the rest of the week, including Chinese growth data, should help shine some light on those concerns.

THE QUOTE: "The big question this week is going to be whether the correction has played out," said Craig Erlam, market analyst at Alpari.

ASIA'S DAY: The downbeat mood in Europe was not evident in Asia earlier as the region's main indexes recorded solid gains in the wake of last Friday's rebound in Europe and the U.S. Japan's Nikkei 225 soared 4 percent to 15,083.91 following a report the Government Pension Fund will increase its domestic equity holdings to 25 percent from 12 percent. South Korea's Kospi was up 1.6 percent at 1,930.06 and Hong Kong's Hang Seng added 0.2 percent to 23,070.26.

CHINA ECONOMY: Much market attention over the coming 24 hours or so will likely center on China, the world's No. 2 economy. Third-quarter growth figures Tuesday may be the weakest in five years. Some analysts predict the economy expanded 7.2 percent from a year earlier, slowing from 7.5 percent in the second quarter. One analyst said the figures could be a "win-win" for markets. "If the number impresses, markets will feel things are not as bad as initially thought," said IG strategist Stan Shamu.

ENERGY: One symptom of the concerns over the global economy has been the sharp fall in oil prices over recent weeks. On Monday, they steadied, with the benchmark New York rate up 13 cents at $82.88 a barrel. Brent crude was down 25 cents at $85.92 a barrel.

CURRENCIES: Foreign exchange markets were relatively subdued with the euro up 0.1 percent at $1.2772 and the dollar 0.1 percent lower at 106.85 yen.


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Electrolux buoyed by US growth

STOCKHOLM — Growth in the U.S. and efficiency gains in Europe helped Swedish home-appliance maker Electrolux post a 42 percent jump in third-quarter profits.

The company said Monday that it made a net profit in the July to September period of 933 million kronor ($130 million) as revenue swelled 6 percent to 28.8 billion kronor.

Electrolux CEO Keith McLoughlin told The Associated Press said he was "quite pleased with the result in what could be characterized as challenging macro conditions."

Last month, Electrolux — ranked as the world's second-largest appliance maker after U.S rival Whirlpool — announced a $3.3 billion acquisition of the appliances business of General Electric. That deal is expected to close next year.

Headquartered in Louisville, Kentucky, GE Appliances' products include refrigerators, freezers, cooking products, washers and dryers and air conditioners. The division, which has 12,000 workers at nine factories, earned $381 million on $8.3 billion in sales last year.

McLoughlin said the acquisition would result in "substantial synergies," but declined to comment on possible layoffs.

"Most of the synergies are going to be primarily in the sourcing and purchasing side," he said. "It's mostly about what we buy, so that's where the vast majority of our synergies are going to come from."

Electrolux has more than 60,000 employees, including 10,000 in North America where its regional headquarters are in Charlotte, North Carolina.

Other than its own brand, Electrolux sells under the Zanussi, AEG, Frigidaire and Eureka trademarks.


20.25 | 0 komentar | Read More

Dunkin’ to go mobile

Written By Unknown on Minggu, 19 Oktober 2014 | 20.25

Dunkin' Donuts customers will be able to skip the lines when the Canton coffee-and-doughnut chain starts piloting mobile ordering by year's end, in advance of a planned U.S. rollout next year.

"We are planning to test mobile ordering in the fourth quarter, and we anticipate adding the ordering feature to our existing mobile app in 2015," Scott Hudler, vice president of global consumer engagement, said in a statement. "For the consumer, there is a huge benefit to skip the line, and improve order accuracy and speed."

Dunkin' would not provide details on test locations for mobile ordering.

Its rival, Seattle's Starbucks, this week announced that it would debut its own mobile ordering application in Portland, Ore., this year, with a U.S. rollout also planned for 2015.

Dunkin' customers likely will have to place their mobile orders once they get to a Dunkin' location or close to one, rather than an hour before pickup, for example — at least for the initial rollout — to ensure items such as coffees and breakfast sandwiches remain hot.

"Our products are amazing, but they don't age particularly well if they're sitting in a bag," Hudler said at a Dunkin' investor and analyst conference in Dallas last month. "We want to crawl before we run in this area, so it'll be more of the guests will let us know that they're on the premises, and then we'll trigger the order, because we think our speed-of-service is so fast that that's probably the best way to deliver a great product."

The Dunkin' mobile app for payments and gifting was launched in August 2012, and has had more than 8.5 million downloads.


20.25 | 0 komentar | Read More

Ebola monitoring inconsistent as virus spread

DALLAS — The top administrator in Dallas County rushed to Texas Health Presbyterian Hospital this week responding to urgent news: One of its nurses had caught Ebola from a patient. He quickly asked for the hospital's watch list to find out who else might be at risk.

Judge Clay Jenkins, who is overseeing the county's emergency response, was told there was no such list. Simply put, nurse Nina Pham and her co-workers, who were handing fluids, inserting IVs and cleaning Thomas Eric Duncan in his dying days, were supposed to take their own temperatures and let someone know if they felt sick.

That wasn't nearly enough for Jenkins, and that evening, he began to make changes. Hospital officials told potentially exposed hospital workers to stop seeing patients other than Pham.

But the next day, the Centers for Disease Control and Prevention allowed another nurse who cared for Duncan, Amber Vinson, to get on a plane in Ohio and fly to Dallas with a mild fever. She was later diagnosed with Ebola, and CDC Director Dr. Tom Frieden has conceded that she "should not have traveled on a commercial airline."

The inconsistent response by health officials in monitoring and limiting the movement of health workers has been one of the critical blunders in the Ebola outbreak. Friends and family who had contact with Duncan before he was hospitalized were confined to homes under armed guard, but nurses who handled his contagious bodily fluids were allowed to treat other patients, take mass transit and get on airplanes.

"I don't think the directions provided to people at first were as clear as they needed to be, and there have been changes in the instructions given to people over time," said Rep. Michael Burgess, R-Texas, a doctor who did his residency in Dallas.

Local health authorities have said repeatedly throughout the response that their guidance and direction can change.

"Please keep in mind the contact list is fluid, meaning people may fall off the list or new people may be added to the list depending on new information that could arise at any time on any given day," said Dallas County health department spokeswoman Erikka Neroes on Friday when asked how many people are even being monitored.

On Thursday, Jenkins announced stricter restrictions that require hospital staffers who had been potentially exposed to stay away from the public for 21 days and check their temperature twice a day, once in person with a public health worker. It was the first written order anyone being monitored has been asked to sign.

"They can walk their dog, but they can't go to church; they can't go to schools; they can't go to shopping centers," said Mayor Mike Rawlings.

Public health epidemiologists were notifying the health care workers of the directions Friday, said Texas Department of State Health Services spokeswoman Carrie Williams.

But even those medical agreements allow some wiggle room. For example, they say public transit isn't outright banned but "should be discussed with the public health authority."

Officials say 125 friends, family, doctors, nurses, technicians, ambulance drivers and others may have been exposed in the days before Duncan died on Oct. 8. Since then, the two nurses have tested positive and at least 18 other people in Texas and Ohio have been identified as secondary contacts who also merit watching.

At first, the monitoring sounded relatively simple: track down the contacts, monitor them with least twice daily temperature records and test people who develop symptoms for Ebola. State officials would be in charge, working with the CDC and Dallas County authorities.

But for a time after Pham was diagnosed with Ebola, different hospital workers had different levels of monitoring, based in part on their exposure risk. Some self-reported their temperatures. Some continued to care for patients. Hospital spokesman Wendell Watson on Saturday referred all questions about the facility's monitoring practices to county officials.

The county moved Duncan's girlfriend, Louise Troh, her 13-year-old son, Duncan's nephew, and a family friend from their apartment to a guarded house in an undisclosed location, where a health official comes by twice a day and takes their temperatures. The unusual confinement order was imposed after the family failed to comply with a request not to leave their apartment, Jenkins said.

Pham and Vinson have been taken to medical centers with isolation units in Maryland and Atlanta. There are four such centers in the U.S.

At the National Institutes of Health medical center in Bethesda, Maryland, spokeswoman Amanda Fine says staff involved in caring for people with Ebola are given thermometers and instructions and must measure and submit body temperatures twice daily.

Taylor Wilson, a spokesman for the Nebraska isolation unit, which has also been treating Ebola patients, said that every time health care workers go into the unit, they must stop and take their temperature and other vital signs and log the results. They are also advised to keep an eye out for any symptoms.

He said that there are no restrictions on the staff's movements outside of work.

In Washington, President Barack Obama presided at a rare Saturday evening meeting of Cabinet officials and advisers on health and security to receive an update on domestic Ebola cases and the status of tracing, contacting and monitoring people who may have come into contact with Ebola patients in Dallas. The meeting included a discussion of broader steps to increase the preparedness of the nation's health sector, the White House said.

___

Associated Press writer Emily Schmall contributed to this report from Fort Worth.


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Startup’s software helps protect workers from emails sent by imposters

Boston University, Target and the New York Times in the past year all have been victims of targeted "phishing" attacks, in which hackers posing as employees' contacts have gotten them to open emails and unwittingly share their credentials or infect their employers' networks.

But a new, Boxboro-based startup and MassChallenge finalist is giving companies and their employees the tools to fight back.

Astra IDentity's PhishingGuardian software uses patented technologies to combine big data processing and behavioral analytics to protect employees against emails that may be from imposters.

"A lot of people think a spam filter protects them from phishing attacks, but it only filters junk mail," said Gagan Prakash, Astra IDentity's founder and CEO. "It doesn't detect imposters because the email looks like it's from someone the recipient knows and trusts."

A hacker targeting a certain company uses social networks and other Internet data to find employees with access to the company's data or systems.

The hacker identifies other people the employees may know and then creates a fake but recognizable email address to impersonate a colleague or boss.

From that fake address, the hacker sends the employees a personalized email with a link or attachment. The email bypasses the spam filter and lands in the employees' inboxes, where they open it because it looks like the "real deal," Prakash said.

Then they click on the enclosed link, allowing the hacker to steal their credentials, or open an attachment, causing damaging software known as "malware" to infect the computer, smartphone or the company's entire network.

"There's a full-fledged black market for all this information the hacker steals because the money's there," Prakash said.

For $2 per person per month, Astra IDentity's software guards against this by monitoring a company's email traffic and building a "behavioral fingerprint" based on the communication pattern of employees and their contacts, such as whether the sender typically uses a computer, smartphone or tablet; what geography the sender's emails come from; and whether the sender's emails usually contain typos.

PhishingGuardian then crunches all this data, comparing incoming emails to the fingerprint, and alerts employees or the company about emails from potential imposters.

Dale Johnson, a Woburn -based email and security consultant, began using the software last month, and it alerted him that someone was trying to get him to click on a link and log in to what turned out to be a fake bank.

"I have customers who need this product because right now, phishing is the biggest threat to businesses and their employees," Johnson said. "If you can get into the right person's computer, you can have access to a whole company. And that is the ultimate nightmare."


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Bake sales boost breast cancer fight

There's nothing like a dose of nostalgia to get co-workers to donate to a worthy cause, especially when there's food involved.

As part of Breast Cancer Awareness Month, the Boston-based nonprofit Bakes for Breast Cancer revisited the days of selling brownies in the school cafeteria with its Office Bake Sale fundraising campaign.

During October, participants bring homemade treats (or store-bought — no judging) to sell at their workplace. All proceeds go into donation jars for breast cancer research.

Bakers can go to the Bakes for Breast Cancer website to download a sign-up calendar to post in their office.

"I jumped right on the idea because I thought it was a fun way for our staff to do stuff together that's tasty, but also for a good cause," said Scott Bernstein, COO at the Needham-based marketing group Mittcom.

So far, five Mittcom employees have brought in treats, with three more in the works for later this month. Bernstein said he's seen cookies, cupcakes and Halloween-themed goodies (his own), but the most popular were fresh-baked pies from the Italian bakery A & L in East Boston.

Employees drop off baked goods in the office kitchen, along with their business card. As they come and go throughout the day, workers can grab a treat and leave a donation in the jar. "At first people were throwing in change or a buck, but as people are getting more committed to the cause, we're starting to see larger donations," said Bernstein, whose mother is a breast cancer survivor. He said Mittcom plans to match donations from the bake sale.

Local celebrity chef Todd English, whose sister, Wendy, passed away from breast cancer in 2006, is a devoted supporter of Bakes. His Boston restaurant Figs is participating in the sale, as well as promoting the nonprofit on its menus. English said the key to bake-sale treats is not to be too fancy.

"Stick to good, basic homemade desserts that everyone always loves," English said. "I'd encourage people to bake something that's a family favorite. Anything from a strudel, if you're German, to an old English pound cake. Those kinds of things work on all levels."

Through partnerships with restaurants and bakeries, Bakes has raised almost $1 million for the cause since its foundation in 1999.

"We need to do anything we can to spread awareness," said English. "Maybe one day we won't have to do this anymore."

Go to bakesforbreastcancer.org/bake-sale to download a calendar for your office.


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Guidelines suggest when tires should be repaired

I have a car that I drive only a couple of thousand miles a year. It had a slow leak in a tire more than 10 years old. I took it to a tire dealer who said that because of its age, he couldn't touch it. He told me that in Minnesota it's a $10,000 fine if he did so. Of course, he was happy to sell me a new tire. I then took it to local mechanic who pulled the small nail out, patched it and sent me on my way. Setting aside the safety issue of driving on 10-year-old tires, is there a law or regulation that prevented that dealer from repairing my tire?

While there have been efforts at both federal and state levels to develop tire age and tire repair regulations, to my knowledge there are no specific laws yet. Each tire manufacturer has its own repair guidelines and the Rubber Manufacturers of America, (RMA) publishes specific guidelines for tire repair.

In general, a tire can be repaired if the damage is
1⁄4-inch or smaller, not in proximity to other damage, is confined to the tread block area of the tire and the tire is deemed reparable.

Methods of repair include the one-piece stem and patch repair or the two-piece stem and patch repair, requiring that the tire be dismounted from the wheel. The RMA recommends never repairing a tire with just a plug, or just a patch.

Our 2011 Subaru Legacy has a dashboard panel lit up like a Christmas tree. The following lights remain on constantly: check engine light, traction, brake light and the cruise control light flashes. Since the check engine light remains constant, the service center says it is OK to drive even though the cruise control doesn't work. Before taking it in to a dealer for diagnostic testing, having a second opinion might help.

The car isn't "OK" to drive — there's a fault in the system, likely in the ABS/traction control. And it really isn't "OK" to drive if the brake warning light is on. This light illuminates if the brake fluid level is low, the parking brake is still on or if there's an imbalance of hydraulic pressure in the system.

So take the car to your dealer to have its diagnostic equipment identify what's wrong. The basic Subaru OE warranty is three years/36,000 miles, the powertrain is covered for five years/60,000 miles and the federal emissions warranty covers the computer and catalytic converter for eight years/80,000 miles.

Subaru issued TSB #06-41-11 dated October 2011 that identified low battery voltage — DC C0074/C0075 — as a possible cause for multiple warning lights.

I have a 2011 Ford Escape. The air conditioning works in the morning after it has been in the garage all night, but the minute it sits outside in a normal heat it no longer works. It blows hot air only. I have had Ford check it three times and it works when I drive off, but then stops working. I took it to an independent mechanic who replaced the hose, not cheap, and again it worked for one day and then failed. He then put dye to try and trace the problem but that failed as well. He was stumped and said to take it back to Ford.

At this stage, it is possible the A/C has been overcharged with refrigerant. As ambient temperatures rise, pressures in the A/C system also rise.

The system pressure switch will disable the compressor when pressures climb above a certain threshold, usually in the 300- to 400-psi range.

Other possible causes for overpressure are moisture/debris partially blocking the expansion valve, radiator fans not working and restricted airflow through the condenser.

If the vehicle is still within its three-year/36,000-mile OE Ford warranty, take it back to the dealer.

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


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