Smart devices prey to hackers

An unprecedented boom in wearable technology and smart homes will make 2015 a year of huge rewards for American consumers — and terrifying opportunities for hackers.

Did you think North Korea's hack into Sony Pictures was bad? Try a hack of your insulin pump, your heart monitor, your light bulbs or your door locks.

Data thefts are about to hit us where we live. As sensors on your wrists and your walls become ubiquitous, the data derived from them is being collected and stored — and its security is about to be tested in a major way in 2015.

Central to the year's digital plot line is what is known as the Internet of Things — think of it as a revolution akin to the World Wide Web in the 1990s.

Instead of wiring computers together, we're wiring devices together, bringing online nearly everything that was previously inert.

Exhibit A: Google has acquired digital thermostat-maker Nest. Exhibit B: Apple's upcoming release of the iWatch.

From your thermostat to your health tracker, everything will start to have its own Internet protocol, or IP Address, starting this year.

The opportunities for the tech industry are huge.

Cable companies and wireless providers alike are trying to dominate in this space, offering monthly smart-home packages with huge install costs and monthly fees. But they'll fail.

What's likely to win out are the easy-setup piecemeal options that communicate well together. Those include the Philips Hue connected light bulbs, Microsoft's Kinect sensor, which straddles the line of smart home and fitness devices, the Apple HealthKit platform and, of course, Nest.

Eventually, smart home technology and wearables will work seamlessly together and you'll think of both as part of one big category, the Internet of Things.

But here's the spark that will ignite a revolution: The biggest providers of cloud computing, Amazon and Microsoft, have made it easier than ever for smaller startups to have the capability to analyze the reams of data coming from all those sensors.

Within the past several months, smaller companies have been able to take these massive quantities of intel — streams of data so big and so smart they're more like neural networks — and apply a type of artificial intelligence known as "machine learning" to them. That's when computers become so smart they program themselves.

That would usually take millions of dollars in capital investments. But advances in cloud computing mean the cost is close to zero.

In 2015, companies will start to be able to provide amazing services we can't even anticipate today, driving the entire smart home and health revolution forward and solidifying it as a central part of our consumer culture.

But as all this data is pulled and stored, access points for cyberattackers increase. And no matter what these companies tell you, our security capabilities have not caught up — and won't in 2015.

Devices that digitally secure your home may seem smart now, but what if a state-sponsored group implanted them with a virus programmed to lay dormant until one day it unlocks all the homes in a particular city? Or those smart thermostats that provide great intel on when people are home and even in a particular room? They might give rise to smart burglars.

So while corporations are worried about being the next Sony Pictures, my concern for 2015 is an attack on the Internet of Things — the digital epitome of a double-edged sword.

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Report: Yahoo pursued Scripps Networks acquisition

Yahoo engaged Scripps Networks Interactive last year about a possible acquisition, according to a report Thursday in Business Insider.

Yahoo CEO Marissa Mayer is interested in potentially taking the riches her company reaped from the Alibaba IPO and funneling them into cable networks, the report suggests. Yahoo approached SNI at some point in 2014 about purchasing Food Network, and the conversation eventually extended to acquiring the rest of a portfolio that also includes HGTV and Travel Channel.

Yahoo may have also approached Time Warner about acquiring CNN. But the report doesn't suggest that either of these potential acquisitions are still in active discussions.

SNI has been mentioned as a potential takeover target in recent years, particularly in anticipation of the kind of industry consolidation that could occur should regulators approve the Comcast-Time Warner Cable and DirecTV-A&T deals. Discovery Communications held preliminary talks with Scripps in late 2013, but a deal didn't materialize.

The author of the report on Yahoo-Scripps is Nicholas Carlson, who recently published the book "Marissa Mayer and the Fight to Save Yahoo."

A rep for Yahoo declined comment, citing company policy on addressing rumors or speculation. A rep for Yahoo has not yet responded to inquiries for comment.

© 2015 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC

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GM recalls 92K trucks, SUVs for ignition lock defect

DETROIT — General Motors is recalling 92,221 full-size trucks and SUVs for a defect in ignition lock systems that can cause safety problems in hot conditions.

Thursday's recall covers certain 2011-2012-models and certain 2007-2014-models that were repaired with defective parts. The recall is for U.S., Canadian, Mexican and exported vehicles.

The affected models re Chevrolet Silverado light-duty and heavy-duty pickups; Avalanche, Tahoe and Suburban; GMC Sierra light duty and heavy-duty pickups; and Yukon and Yukon XL; Cadillac Escalade, Escalade ESV and Escalade EXT.

GM says the ignition lock actuators may be too wide, making turning the key difficult when it's hot inside the cab. No crashes or injuries have been reported.

Last year, GM recalled 2.6 million small cars for defective ignition switches, linked to at least 42 deaths and 58 injuries.

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Hot Property: In 2015, new digs on the block

What we will see in Greater Boston residential real estate this year will be a lot like what we saw last year.

Another big wave of high-end apartment complexes will open between winter and spring, including 315 apartments at the Ink Block in the South End, 378 in neighboring Troy Boston, 359 apartments at 100 Pier 4 in the Seaport District and 398 units at the Ava Theater District. One Greenway in Chinatown will add another 217 market-rate apartments by summer.

East Cambridge's NorthPoint area will see two large apartment complexes opening this year: 355 units at Twenty 20 and 392 apartments at the Zinc at 22 Water St., near the new Lechmere Green Line station.

Over in the Fenway, two large luxury apartment projects will debut this spring: the Viridian with 322 units and the Van Ness with 172 units. And One Canal will add 320 new apartments on the Greenway this fall.

Whether the Hub can absorb this second wave of high-end rentals will indicate whether Boston is seeing exponential job growth and an increasing influx of millennials, empty-nesters and internationals, or if there's an oversupply, which will result in cutthroat competition that reduces rents.

"The first half of 2015 will be a lot like what we saw last year, with lots of new luxury apartments and a restricted condo inventory," said real estate columnist and William Raveis agent David Bates.

Bates sees the growth of emerging markets such as East Boston, and Dorchester neighborhoods such as Fields Corner and Savin Hill, as places for buyers looking in the $500,000 range as more are priced out of neighborhoods such as South Boston and Jamaica Plain and most of Cambridge and Somerville.

The city is seeking to encourage building denser housing in corridors along Dorchester Avenue between Broadway and Andrews and around the Forest Hills Orange Line station, but there will remain a shortage of more moderately priced condos and apartments for the foreseeable future. But a few, such as the 43-apartment Parkside on Adams in Roslindale, are slated to open this year.

And the shortage also goes for the high-end condo
market. Twenty Two Liberty in the Seaport District will debut at the end of the year, but its 109 condos are nearly sold out. So, too, are almost all of the 83 units at Sepia in the South End opening in the fall.

Two big luxury condo projects are breaking ground on Dalton Street near the Christian Science Center. Construction also will start on Lovejoy Wharf, 40 Trinity Place and Copley Place Tower, but delivery on these are two years away.

What will be available this year are smaller condo projects such as the 12-unit Royal in the South End and small South Boston and Back Bay projects.

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Hyundai, Kia brace for weakest growth in a decade

SEOUL, South Korea — Hyundai Motor Co. and its affiliate Kia Motors Corp. are forecasting their weakest growth in yearly car sales in more than a decade as competition intensifies and the global economy slows.

Hyundai Motor Group, the world's fifth largest automaker, said Friday the two carmakers aim to sell a combined 8.2 million vehicles this year.

That would be an increase of just 2.5 percent from last year's sales about of about 8 million vehicles. Sales grew 4 percent in each of the past two years.

Chairman Chung Mong-koo told employees in his New Year's speech that the group should cut costs, increase productivity and share components to fend off competition from Japanese rivals boosted by a cheap yen.

Sales of Hyundai and Kia cars grew at double digit rates until 2011 as the group weathered the 2008 financial crisis by introducing new designs and marketing. The Korean group was also aided by a weak local currency. In 2010, car sales at Hyundai and Kia jumped 24 percent combined as exports surged.

But that momentum has slowed since 2012 as the won strengthened against the yen and as foreign auto brands gained popularity in South Korea, hurting Hyundai and Kia's domestic sales. A series of recalls and quality issues also challenged Hyundai at home and overseas.

Chung said the auto group will put priority on improving its brand and boosting its research and development. The group will increase investment in eco-friendly technologies and its brand this year.

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State clears dispensary to grow, sell medical pot in Salem

A Massachusetts company will begin growing cannabis and selling medical marijuana from a Salem dispensary, thanks to the first certificate of registration issued by the state.

The state Department of Public Health yesterday announced the clearance for Alternative Therapies Group Inc.

Alternative Therapies plans to sell its medical marijuana — which Massachusetts law requires must be grown from seed — to 1,526 patients in its first year, according to its filing with the state. The plants will be grown at its Amesbury cultivation site.

"Providing safe patient access is a priority of the Medical Use of Marijuana Program, and we are proud to take this important step forward," state Health and Human Services Secretary John Polanowicz said in a statement. "Selecting dispensaries that meet our high standards takes time, but ensuring a launch of this new industry the right way for the people of Massachusetts is a top priority."

State public health officials visited Alternative Therapies' dispensary and cultivation sites to review its floor plans, security and cultivation operations to ensure product safety and quality; its storage and transportation standards; and responsiveness to patient needs, the DPH said.

The company will be subject to further oversight, including inspection of its transportation plans and testing of its marijuana plants once they are grown, before it's permitted to move or sell its marijuana for medical use. Ongoing oversight will include unannounced inspections before and after sales begin.

Other companies seeking to operate medical marijuana dispensaries in Massachusetts are in the inspection phase.

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US stocks post sixth straight year of gains

NEW YORK — U.S. stocks ended a strong 2014 with moderate declines Wednesday.

Even with the losses, the Standard & Poor's 500 index finished the year up 11.4 percent, or 13.7 percent when dividends are included. It was the sixth straight year of gains for the stock market.

Oil, by contrast, had its worst annual performance since 2008, ending down 45 percent for 2014 after a sharp slump in the second half of the year.

The market's annual gain exceeded even most optimistic forecasts made at the beginning of the year.

"It turned out to be a great year for U.S. economic growth, which got us higher corporate profits as well," said Cameron Hinds, regional chief investment officer for Wells Fargo Private Bank.

Most strategists believe the stock market will also rise in 2015, but they expect more modest gains of between 4 percent and 6 percent.

There was no major catalyst for Wednesday's selling. Trading has been slow all week because of the holidays and most fund managers have closed their books for the year. However, some investors do reshuffle their portfolios in the last few days of the year for tax purposes.

Roughly 2.6 billion shares were traded on the New York Stock Exchange, compared with the 3.6 billion traded on an average day.

Energy stocks edged lower as the price of oil fell. Benchmark U.S. crude dropped 85 cents to $53.27 a barrel in New York. Oil has plunged by half since June amid abundant supplies and weak global demand.

Oil drillers fell the most Wednesday. Diamond Offshore was the biggest decliner in the S&P 500, declining 3.6 percent. The energy component of the S&P 500 is down 10 percent this year

"I think most of the selling you're seeing today is related to the fall in oil, as well as repositioning before the end of the year," Hinds said.

U.S. markets will be closed Thursday for New Year's Day and will reopen on a normal schedule on Friday.

On Wednesday, the Dow Jones industrial average fell 160 points, or 0.9 percent, to 17,823.07. It ended 2014 up 7.5 percent, lagging behind the S&P 500 and Nasdaq.

The Nasdaq lost 41.39 points, or 0.9 percent, to 4,736.05. The Nasdaq rose 13.4 percent in 2014.

The S&P 500 fell 21.45 points, or 1 percent, to 2,058.90.

Prices for U.S. government bonds rose. The yield on the 10-year Treasury note edged down to 2.17 percent. Bonds were an unexpected strong spot for the market in 2014. The 10-year note started 2014 at around 2.99 percent. Bond yields fall as prices rise.

Gold fell $16.30 to $1,184.10 an ounce. The precious metal barely budged in 2014, falling 0.2 percent, compared with its drop of 28.3 percent in 2013.

Silver fell 68 cents to $15.60 an ounce and copper fell three cents to $2.83 a pound.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 1.8 cents to $1.435 a gallon.

— Heating oil fell 2.2 cents to close at $1.847 a gallon.

— Natural gas fell 20.5 cents to close at $2.889 per 1,000 cubic feet.

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Hasbro to replace penis-shaped Play-Doh toy

PROVIDENCE, R.I. — It was an embarrassing Christmas for Nivea Cabrera after she was accused by her fiance's mother of letting her 5-year-old granddaughter play with a sex toy. A mortified Carbrera asked the child where she got the penis-shaped plastic cylinder.

"It's from my Play-Doh," the girl replied.

Hasbro, the Pawtucket-based toy company, is now doing damage control over the extruder tool in its Play-Doh Cake Mountain toy. The two-piece syringe-like tool, which includes a tube with corkscrew-type ridges around the outside and a dome-shaped top with a hole at the tip, can be used to squeeze Play-Doh to look like decorative cake frosting.

Complaints have been surfacing since at least November, when Tulsa, Oklahoma, TV station KTUL showed the tool to parents and asked them what they thought. The station blurred the image of the tool during the piece, saying it was due to parents' reactions. One woman told the station it was "a pretty phallic cake-decorating piece."

After Christmas, comments started pouring in to Play-Doh's Facebook page, including from Cabrera, of Lancaster, Pennsylvania. She said Hasbro called her after she posted a photo of the tool and asked about the shape on Christmas Day. She said the company offered to send her a replacement tool in a different shape, which she has not received.

Erin Rivers, a mother of two from Melbourne, Florida, thought it was hilarious when she helped her 6-year-old daughter open the box.

"I pulled out this extruder tool, and I just started cracking up at it, I couldn't help it. Then I immediately put the Play-Doh in it and took a picture of," she said.

Then, she posted it on Facebook.

"My friends have just as dirty minds as I do," she said. "It was hysterical to me. And then I gave it my daughter to play with."

She said her daughter and 4-year-old son don't notice anything strange about the toy.

Hasbro Inc. has received thousands of comments on the Play-Doh Facebook page pointing out the obvious.

"We are in the process of updating all future Play-Doh products with a different tool," it said in a statement posted on the page Tuesday.

It also offered to replace the tool for anyone who has complaints.

Rivers, who works in a pediatric dental office, says she's not upset at all. But she is flabbergasted that the toy slipped past so many layers of people at Hasbro.

"They have to have someone who creates it, someone who makes the plastic mold, someone who plays with it," she said. "I can't imagine that as many people that probably saw the toy, not one person said, 'Does anyone else think this looks like a penis?'"

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Sony hack hits actors in Boston

The massive Sony hack that has spurred an FBI investigation and nearly canceled the rollout of "The Interview" is hitting home with Boston actors who this week received a letter from Sony stating they may be vulnerable to identity theft.

"When I received the letter, I was like, 'I cannot believe this,' "
said Jan Waldman, who was an extra in "The Equalizer," a movie shot in Boston, "I mean, I am such a small player in a huge thing, and if my information is compromised, it's an incredible hassle,'"

The 54-year-old from Swampscott has been a full-time actress for the past two years.

Chris Weigel was on the same set for two days working as an extra and said when he originally heard about the Sony hack he thought it was awful that someone had hacked into a major corporation and leaked information about executives. "There was never even a thought that it was affecting me," he said.

"I never thought it would touch me," echoed Andrea Petrino, 43, of South Boston, who in the past 15 years has been in nine Sony-produced films — a welcome source of extra income to her real estate salary.

According to the letter, the stolen information may include their full names, addresses, Social Security numbers, driver's license numbers, passport information and other information given to Sony for payroll and tax purposes.

"I don't know too much about what you really need to steal your identity or how about going to do that, but I am pretty sure that's like the basic information right there," said Weigel, a teacher who lives in Watertown and acts on the side.

Sony suffered its huge hack on Nov. 24, and since then a tidal wave of information has leaked — including salaries of top executives, embarrassing email exchanges and full-length feature films not yet released in theaters. A threat by the hackers to attack theaters on Christmas Day spurred Sony to briefly cancel the rollout of "The Interview," a comedy about an assassination attempt on the leader of North Korea.

A group calling itself Guardians of Peace has claimed responsibility for the cyberattack. The U.S. has blamed North Korea.

The letter reveals the ripple effect of the hack could be much larger than the small group of well-paid Sony executives and actors.

Sony — which last month offered identity theft protection to directors and writers — now has offered to pay for one year of ID protection for the actors through a company called AllClear ID.

But Weigel said the one-year protection is not enough. Once personal information is out there it can be accessed at any point — and Social Security numbers don't change after a year, he noted.

"I'm kind of hoping that Sony steps in and maybe realizes that this isn't enough," he said.

Sony did not respond to requests for comment yesterday.

The studio is now releasing "The Interview" on cable, satellite and telecom services, as well as PlayStation. Showings of the movie will also expand to 580 theaters.

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Business leaders bullish on 2015

After a year of strong economic growth in Boston, local business leaders tell the Herald they predict booming startups, cheap gas and steady development in 2015. Here are their forecasts:

Robby Bitting, marketing director at MassChallenge, on Boston startups: "We're super optimistic on 2015. There's a lot of momentum and success. On one hand, you see the big IPOs from this year with Wayfair and HubSpot that have generated a lot of excitement and ... attention for the startup community in Boston. But, on another level, what's really important is there's a lot of activity for earlier-stage entrepreneurs. Not only do you see it in the consumer web and enterprise software, but you also see that in healthcare, biotech and energy, and even in social enterprises."

Oil expert Andrew Reed, principal of ESAI Energy: "The price decreases (for heating oil and gasoline at the pump) we saw in the last few months put us at a new level where we should be staying — not just this winter, but for the next several years. OPEC ... had a decision coming for some time: Either you cut production (of crude oil) to defend the price or you keep producing to protect your market share. They've chosen the latter, which means there's a lot of crude oil out there."

Ernie Boch Jr., CEO of Boch Enterprises: "2014 was a great year for the automotive industry. 2015 looks like a better year, as long as the domestic (automakers) keep their production in line. In 2014, there was a great balance of supply and demand, but there were signs that the domestics were starting to over-produce, which could be dangerous."

Pat Moscaritolo, CEO of the Greater Boston Convention & Visitors Bureau: "We've had three consecutive years of strong growth and are hitting new highs in visitors and hotel activity and tax revenue generated." International visitors have been the strongest market segment. "That's been fueled by the aggressive marketing that we've been doing internationally for Boston and Cambridge, but also the success of Massport's new international air service activity."

John B. Hynes III, CEO of Boston Global Investors, on real estate development: "I think you're going to see an average development year, with another 4 or 5 million square feet put under construction citywide. I would like to think it will be good for another million square feet of starts in Seaport Square, having started a million feet this year."

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5 things to know: Obama health law again in play

WASHINGTON — New episodes in the nation's long-running political drama over health care are coming via your news feed in 2015.

The fate of President Barack Obama's health care law again hangs in the balance as the Supreme Court weighs another legal challenge to the program, now covering millions of people. And a Republican-led Congress prepares for more votes to repeal the Affordable Care Act, ignoring threatened vetoes by the president.

Five things to know about health care in the year ahead:

THE MAIN EVENT

The biggest health care news of 2015 probably won't come from Congress or the White House, but the Supreme Court. The court has agreed to hear another lawsuit that goes to the heart of Obama's strategy for providing health insurance to people who can't get coverage through their jobs. The case will be argued early in March, with a decision expected late in June.

The plaintiffs contend that the law as written only allows the government to subsidize coverage in states that have set up their own their own health insurance markets, or exchanges. With Washington currently running the markets in 37 states, much of the law's coverage expansion could unravel if the Supreme Court agrees.

It would be a moment of truth for the law's opponents and its supporters alike.

DOES ANYBODY HAVE A PLAN B?

If the Supreme Court rules against Obama, both sides would need a fallback plan, and quickly.

Opponents of the health care law would face the prospect of more than 4 million people losing federal subsidies that cover about 75 percent of their premiums. Most of those consumers would wind up uninsured again, and presumably none too happy.

The president would have to contemplate going hat-in-hand to the Republican leadership of Congress to ask for fixes to his signature legislation, possibly opening up other contentious issues in the law.

Republican governors and state legislators would have a choice, too. They could establish insurance exchanges, or watch many of their constituents lose coverage.

REPEAL-A-THON

With the Senate and the House both under Republican leadership, expect dozens more congressional votes to repeal "Obamacare," whether in whole or in part.

It's not clear that full repeal can get through the Senate, where Democrats retain sufficient strength to block legislation by using procedural maneuvers.

But some provisions of the law are also unpopular with significant numbers of Democrats, and bills to roll those back may emerge from Congress. Examples: a requirement that 30 hours per week counts as fulltime employment, a tax on medical device manufacturers, and a Medicare cost control board.

THOUGHT HEALTH CARE WAS COMPLICATED? TRY TAXES

Obama's health care law uses the income tax system to deliver carrots and sticks.

The subsidies that have made premiums affordable for millions are distributed as tax credits. And the penalties imposed on those who ignore the law's mandate to get health insurance are collected as additional taxes.

In 2015, the law's connection to the tax system will become clearer for most people.

All taxpayers will have to report on their 2014 tax return whether or not they had insurance.

Those who got subsidies will have to show they got the right amount. If they received too much, their refunds will get dinged.

Those who remained uninsured will either have to pay the taxman, or show that they qualify for an exemption.

Tax preparation companies are expecting lots of new business.

HOW MANY COVERED, ANYWAY?

At last count, about 6.7 million people got private coverage through the insurance exchanges in 2014. Another 9.7 million got on Medicaid, the insurance program for low-income people, expanded under the law by more than half the states.

Some of those people would have switched from other coverage.

Still, the number of uninsured Americans has dropped significantly — by more than 10 million people as of mid-2014. While the economic recovery doubtless contributed, Obama's law does seem to be delivering on a core promise.

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Apple devices dominate at christmas

The holidays were filled with a lot of Apples lighting up for the first time.

Mobile devices made by Apple accounted for 51% of the devices being activated around the world on Dec. 25, according to Yahoo-owned research firm Flurry. The iPhone 6 was the No. 1 device.

Samsung came in second with 18%, followed by Microsoft's Nokia unit at 5.8%. Sony and LG trailed at 1.6% and 1.4%, respectively.

In other words, for every Samsung device that was activated, Apple activated 2.9 devices.

Apple is expected to sell 71.5 million iPhones during the fourth quarter, according to KGI analyst Ming-Chi Kuo, 40% more than the 51 million iPhones sold in the last quarter of 2013. Apple sold more than 10 million iPhones during the first three days of the release of the iPhone 6 and iPhone 6 Plus in September, a record for the company.

In comparison, Samsung sold 12 million Galaxy S5 smartphones in its first three months of release, off 4 million from when the S4 was launched, analysts say. Overall, it's sold 40% fewer S5 units than it expected, with China, in particular, accounting for much of the decline as rivals there take a larger percentage of the business.

Christmas Day typically marks the time when more new mobile devices are activated than any other time on the calendar.

The same is true for apps, with more software purchased for devices on the day, Flurry said, which makes sense, given that consumers are looking for software to put on their new hardware.

This year was no different.

Flurry, which tracks more than 600,000 apps, found that app installs increased 2.5 times the number on an average day in the first three weeks of December.

The firm also found that larger screens are also becoming more popular.

Apple recently released the iPhone 6 Plus, with a 5.5-inch screen, while Samsung has the 5.7-inch Galaxy Note 4 in the phablet category -- devices with larger screens that fall in between a smartphone and a tablet.

In the week leading up to Christmas, 13% of new device activations were phablets, compared to just 4% in 2013.

Overall, the findings are notable, given how consumers are spending more time accessing entertainment on mobile devices.

In fact, 2014 marked the first time that more time was spent watching a smartphone or tablet than a television.

The time consumers spend on mobile devices has grown to 2 hours and 57 minutes -- up 9.3% -- topping the time spent watching TV, which has remained flat at 2 hours and 48 minutes daily, according to the US Bureau of Labor Statistics.

The Christmas numbers are also notable for Apple, given that its iOS operating system trails Google's Android around the globe. Android devices made up 84% of the smartphone sales in the third quarter, according to IDC, versus nearly 18% for iOS. For tablets, Android powered 68% of tablets, versus iOS at 28%.

The new iPhone 6 and iPhone 6 Plus were the first smartphones Apple released worldwide.

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

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France drops its super tax on millionaires

PARIS — It was supposed to force millionaires to pay tax rates of up to 75 percent: "Cuba without the sun," as described by a critic from the banking industry. Socialist President Francois Hollande's super tax was rejected by a court, rewritten and ultimately netted just a sliver of its projected proceeds. It ends on Wednesday and will not be renewed.

And that critic of the tax? He's now Hollande's economy minister, trying mightily to undo the damage to France's image in international business circles.

The tax of 75 percent on income earned above one million euros ($1.22 million) was promoted in 2012 by the newly-elected Hollande as a symbol of a fairer policy for the middle class, a financial contribution of the wealthiest at a time of economic crisis.

But the government was never able to fully implement the measure. It was overturned by France's highest court and rewritten as a 50 percent tax paid by employers.

Faced with a stalling economy and rising unemployment, the government reversed course in 2014 with a plan to cut payroll taxes by up to 40 billion euros ($49 billion) by 2017, hoping to boost hiring and attract more investments.

All the while, Prime Minister Manuel Valls kept repeating his new credo: "My government is pro-business".

Ultimately, while the super tax affected only a small number of taxpayers, it triggered huge protests in business, sporting and artistic communities.

French actor Gerard Depardieu decried it vociferously and took Russian citizenship. Soccer clubs threatened to boycott matches for fear that 114 of their players or coaches would be taxed. The final version of the tax allowed them to minimize the burden.

The announcement of the 75 percent tax had "a very bad psychological effect" in business circles, says Sandra Hazan, a lawyer who heads Dentons Global Tax Group. Even if most of the companies were able to minimize or avoid the tax, "I think it had an extremely devastating impact on the attractiveness of France for foreigners."

At the time of its proposal, British Prime minister David Cameron ironically proposed to "roll out the red carpet" to French companies willing to avoid the tax.

Economist Thomas Piketty, author of the book "Capital in the Twenty-First Century", criticized it as "a millstone around the neck" of the government, asking instead for global reform of tax laws.

Proceeds from the tax are estimated to total 420 million euros ($512 million) for about 1,000 employees in 470 companies, according to the government. By comparison, France's budget deficit has soared well over 80 billion euros ($97 billion).

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'American Sniper' tops this week's TV ad spend

In this week's edition of the Variety Movie Commercial Tracker, powered by iSpot.tv, "American Sniper" held the top ad spend position last week, with an estimated $9.8 million spent across 985 national airings on 46 networks, led by MTV and Comedy Central.

Falling to No. 2 was last week's frontrunner, "Unbroken," with an estimated $6.5 million spend spanning 1,620 national airings across 52 networks, led by Cloo and USA Today. But that was it for the list veterans, as the bottom three entries are all newcomers.

In the No. 3 spot this week is the third installment of the "Taken" franchise -- "Taken 3" -- with an estimated $5.9 million spent on 1,045 national spots over 33 networks, led by MTV and Comedy Central. Next is "Blackhat" with an estimated $5.5 million spent on 765 national airing across 40 networks, led by Comedy Central and Spike. "Into the Woods" rounded out the list with a $4.6 million estimated spend on 714 national spots across 31 networks, led by ABC Family and E!

$9.8M - American Sniper

Online Activity: 12.21% within the movie category*

National Airings: 985

Networks: 46

Most Aired On: MTV, Comedy Central

Creative Versions: 17

Est. Lifetime TV Spend: $20.4M

Studio: Warner Bros.

Started Airing: 12/05/14

$6.5M - Unbroken

Online Activity: 2.56% within the movie category*

National Airings: 1,620

Networks: 52

Most Aired On: Cloo, USA Network

Creative Versions: 24

Est. Lifetime TV Spend: $37.3M

Studio: Universal Pictures

Started Airing: 11/20/14

$5.9M - Taken 3

Online Activity: 2.31% within the movie category*

National Airings: 1,045

Networks: 33

Most Aired On: MTV, Comedy Central

Creative Versions: 13

Est. Lifetime TV Spend: $11M

Studio: Twentieth Century Fox

Started Airing: 12/08/14

$5.5M - Blackhat

Online Activity: 1.24% within the movie category*

National Airings: 765

Networks: 40

Most Aired On: Comedy Central, Spike

Creative Versions: 8

Est. Lifetime TV Spend: $8M

Studio: Universal Pictures

Started Airing: 11/20/14

$4.6M - Into the Woods

Online Activity: 4.01% within the movie category*

National Airings: 714

Networks: 31

Most Aired On: ABC Family, E!

Creative Versions: 40

Est. Lifetime TV Spend: $20.3M

Studio: Walt Disney Studios

Started Airing: 11/12/14

¹ Movie titles with a minimum spend of $100,000 for airings detected between 12/22/2014 and 12/28/2014.
* Percent of digital activity captured across online video, social media, and search activity that was stimulated by these movie trailers and measured in comparison to all online activity in the movie category.

Variety has partnered with iSpot.tv, a company that catalogs, tags and measures activity around TV commercials in real time, to bring you this weekly look at what studios are spending to market their movies on TV. Learn more about the iSpot.tv platform and methodology.

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

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Gas explosion at Chinese factory kills 17

BEIJING — A gas explosion at an auto parts factory in southern China killed 17 people and injured 33 others on Wednesday, state media reported.

Three of the injured were in critical condition, the official Xinhua News Agency said.

The Southern Metropolis Daily said witnesses heard three blasts at the Fuhua Engineering and Manufacturing Co. factory in Foshan city. The blasts destroyed the facility's walls and ceiling and also damaged a nearby glass factory and other plants.

Pictures on the newspaper's website showed panels blown off the building's structure and people lying injured on the ground. Xinhua said the factory was closed for cleaning at the time of the blast.

Officials were investigating the cause of the explosion, it said.

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Developer serves up plan for building behind Back Bay tennis club

Developers are proposing a 10-story mixed-use, glass-faced building that would rise above a 1902 Beaux Arts building on Boston's Boylston Street, across from the Hynes Convention Center.

The $40 million project by Boston-based Hamlen Co. would replace an existing 18-space parking lot behind 927-939 Boylston St. and build upon what's considered an original building in the Back Bay neighborhood, according to documents filed with the Boston Redevelopment Authority. It would include 15 residential units, two ground-floor retail spaces, a second level of shell office or educational space and a new enclosed parking garage with 35 spaces.

"The proposed project will create much-needed housing and retail space in the Back Bay neighborhood in a manner that is consistent with and complimentary to the existing architecture and character of the neighborhood," the project developers said in a letter submitted to the Boston Redevelopment Authority.

Hamlen's plans include refurbishing the existing classical revival style building at 927-939 Boylston St. that's home to the Boston Tennis and Racquet Club — Boston's oldest athletic and social club. Residents of the proposed project would have access to the club's fitness facilities, food service, social areas and meeting space. The existing building also houses Berklee College of Music facilities, including its student-run Cafe 939 music venue and coffee house.

The project still must be vetted by the Neighborhood Association of the Back Bay's Architectural Committee and the Back Bay Architectural Commission in addition to the BRA.

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Chipotle apologizes for NY worker's police protest

NEW YORK — Two Chipotle chief executives have apologized to New York City police officers who were greeted by a restaurant employee making the "hands up, don't shoot" gesture popular with protesters.

Co-Chief Executive Officers Steve Ells and Monty Moran said in a statement Monday that the employee's action appeared to be spontaneous. They said it happened at one of their Brooklyn restaurants on Dec. 16 when a group of nine police officers entered. They said the officers were not refused service, but chose to leave after encountering the gesture while in line.

The executives said appropriate actions had been taken toward the crew member after the Denver-based Chipotle Mexican Grill Inc. reviewed video footage from security cameras. They said they could not discuss what actions were taken.

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Making their Fort Point: Group to brand Southie district

Fort Point residents, businesses and property owners are backing a branding campaign that celebrates the historic South Boston neighborhood's waterfront location, industrial warehouse buildings, artists and growing number of companies and hot restaurants.

The first step calls for a five-year, $50,000 streetlight banner initiative highlighting Fort Point, which encompasses about 55 acres in the broader South Boston Seaport District area that's taken on the city-coined Innovation District name in recent years.

The goal is to give Fort Point a "sense of place," said Rachel Borgatti, executive director of the Friends of Fort Point Channel.

The branding is intended to reflect Fort Point as those who live and work there see it — a thriving neighborhood with artists, restaurants, businesses, industry and amazing architecture, said Gabrielle Schaffner, a 25-plus-year Fort Point ceramic artist.

"There was time when you said you lived in Fort Point, and nobody knew where you were," she said. "The Innovation District is not just Fort Point. That's something that came about without input from Fort Point — that was just decided by the mayor's office ... or the (Boston Redevelopment Authority)."

The Boston Wharf Co. developed Fort Point starting in the 1830s. It has the city's "largest, most cohesive and most significant" collection of late-19th and early-20th century industrial loft buildings, according to the city's Fort Point Channel Landmark District Commission. Artists began moving there in the 1970s, and it's recognized as one of New England's largest artist communities.

Fort Point's Stoltze Design was selected from 14 companies to design the banners. "We want to project the fact that (Fort Point) has these historic buildings, a sense of history and a lot of culture, but also it's a very contemporary area and has a lot of innovative things happening," said founder Clif Stoltze, who's lived in Fort Point for more than 30 years.

The banners include plays on phrases that include the word "point." "Point After" banners with a wine glass and bottle signify after-work options such as restaurants and nightlife spots in the neighborhood, while "Point of View" banners with an easel refer to the artist community. "Point of Purchase" banners are a nod to growing retail options.

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Alert issued after likely HIV porn set infection

LOS ANGELES — California public health officials issued an alert Monday after finding "very strong evidence" that an adult film actor became infected with HIV as a result of unprotected sex on an out-of-state film shoot.

The Department of Public Health said the male actor tested positive for the virus that causes AIDS after engaging in unprotected sex with several other male actors during two separate film shoots. He had tested negative before the shoot.

"During the second film shoot, he had symptoms of a viral infection," the alert states. "The actor went to a clinic and had another blood test that showed he had recently become infected with HIV."

One actor from the second shoot has since tested positive for HIV. According to the health department, lab results indicate the first actor who tested positive "probably transmitted" HIV to the second.

A health department official was unable to immediately release further details regarding the lab testing and investigation. The alert notes that very early in an HIV infection, the test can be negative "even though the actor really does have HIV."

"In this case, the actor and production company thought he was HIV-negative during filming," the alert states. "Shortly after his negative test, HIV levels in his body rose rapidly to where he could infect other actors through unprotected sex.

A California-based trade group for the adult film industry declined to comment.

A health department official declined to release any information regarding when the transmission had taken place or which company it involved, citing privacy restrictions, but said the apparent transmission occurred in Nevada.

"It's happened before, it's happened now, and it will happen in the future," said Michael Weinstein, president of the Los Angeles-based AIDS Healthcare Foundation. "The big lie the industry has been saying all these years, there are no on-set transmissions, has been proven to be untrue."

The foundation championed an ordinance adopted by Los Angeles County voters in 2012 requiring actors in pornographic films to use condoms. The porn industry has fought the ordinance, saying having actors use condoms would interfere with a film's fantasy element by subjecting viewers to real-world concerns like pregnancy and sexually transmitted diseases.

A federal appeals court recently ruled the ordinance does not violate First Amendment rights.

Several porn companies have moved shoots out of the county over the last two years in response to the ordinance. The number of porn filmmakers applying for permits in LA County has declined sharply, from 485 in 2012 to 40 in 2013.

The last confirmed on-set HIV infection was in 2004. After that, the porn industry adopted monthly testing for a range of STDs. Last year, the industry increased testing to every 14 days after a woman who performs under the name Cameron Bay contracted HIV. Her diagnosis triggered a moratorium on adult film production until all performers who worked with her were medically cleared.

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No health insurance? Penalties to rise in 2015

WASHINGTON — The cost of being uninsured in America is going up significantly next year for millions of people.

It's the first year all taxpayers have to report to the Internal Revenue Service whether they had health insurance for the previous year, as required under President Barack Obama's law. Those who were uninsured face fines, unless they qualify for one of about 30 exemptions, most of which involve financial hardships.

Dayna Dayson of Phoenix estimates that she'll have to pay the tax man $290 when she files her federal return. Dayson, who's in her early 30s, works in marketing and doesn't have a lot left over each month after housing, transportation and other fixed costs. She'd like health insurance but she couldn't afford it in 2014, as required by the law.

"It's touted as this amazing thing, but right now, for me, it doesn't fit into my budget," she said.

Ryan Moon of Des Moines, Iowa, graduated from college in 2013 with a bachelor's degree in political science and is still hunting for a permanent job with benefits. He expects to pay a fine of $95. A supporter of the health care law, he feels conflicted about its insurance mandate and fines.

"I hate the idea that you have to pay a penalty, but at the same time, it helps other people," said Moon, who's in his early 20s. "It really helps society, but society has to be forced to help society."

Going without health insurance has always involved financial risks. You could have an accident and end up with thousands of dollars in medical bills. Now, you may also get fined. In a decision that allowed Obama's law to advance, the Supreme Court ruled in 2012 that the coverage requirement and its accompanying fines were a constitutionally valid exercise of Congress' authority to tax.

In 2015, all taxpayers have to report to the IRS on their health insurance status the previous year. Most will check a box. It's also when the IRS starts collecting fines from some uninsured people, and deciding if others qualify for exemptions.

What many people don't realize is that the penalties go up significantly in 2015. Only 3 percent of uninsured people know what the fine for 2015 will be, according to a recent poll by the nonpartisan Kaiser Family Foundation.

Figuring out your potential exposure if you're uninsured isn't simple.

For 2014, the fine is the greater of $95 per person or 1 percent of household income above the threshold for filing taxes. It will jump in 2015 to the greater of 2 percent of income or $325. By 2016, the average fine will be about $1,100, based on government figures.

People can get a sense of the potential hit by going online and using the Tax Policy Center's Affordable Care Act penalty calculator.

Many taxpayers may be able to get a pass. Based on congressional analysis, tax preparation giant H&R Block says roughly 4 million uninsured people will pay penalties and 26 million will qualify for exemptions from the list of more than 30 waivers.

But it's unclear whether taxpayers are aware of the exemptions.

Deciding what kind of waiver to seek could be crucial. Some can be claimed directly on a tax return, but others involve mailing paperwork to the Health and Human Services Department. Tax preparation companies say the IRS has told them it's taking steps to make sure taxpayers' returns don't languish in bureaucratic limbo while HHS rules on their waivers.

TurboTax has created a free online tool called "Exemption Check" for people to see if they may qualify for a waiver. Charges apply later if the taxpayer files through TurboTax.

Timing will be critical for uninsured people who want to avoid the rising penalties for 2015.

That's because Feb. 15 is the last day of open enrollment under the health law. After that, only people with special circumstances can sign up. But just 5 percent of uninsured people know the correct deadline, according to the Kaiser poll.

"We could be looking at a real train wreck after Feb. 15," said Stan Dorn, a health policy expert at the nonpartisan Urban Institute. "People will file their tax returns and learn they are subject to a much larger penalty for 2015, and they can do absolutely nothing to avoid that."

The insurance requirement and penalties remain the most unpopular part of the health care law. They were intended to serve a broader purpose by nudging healthy people into the insurance pool, helping to keep premiums more affordable.

Sensitive to political backlash, supporters of the health care law have played down the penalties in their sign-up campaigns. But stressing the positive — such as the availability of financial help and the fact that insurers can no longer turn away people with health problems — may be contributing to the information gap about the penalties.

Dayson, the Phoenix resident, says she's hoping her employer will offer a health plan she can fit into her budget, allowing her to avoid higher fines for 2015.

In Des Moines, recent college graduate Moon has held a succession of temporary local and state government jobs that don't provide affordable coverage. The penalties are on his mind.

"When it gets up to $325, I hope I have a career that actually offers me a good health care plan," he said.

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Associated Press Social Media Editor Eric Carvin contributed to this report.

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Online:

Tax Policy Center ACA penalty calculator: http://tinyurl.com/mrppjoe

TurboTax Exemption Check: http://bit.ly/1xu9hDl

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Key decisions on drones likely from Congress

WASHINGTON — The Obama administration is on the verge of proposing long-awaited rules for commercial drone operations in U.S. skies, but key decisions on how much access to grant drones are likely to come from Congress next year.

Federal Aviation Administration officials have said they want to release proposed rules before the end of this month, but other government and industry officials say they are likely to be delayed until January. Meanwhile, except for a small number of companies that have received FAA exemptions, a ban on commercial drone flights remains in place. Even after rules are proposed, it is likely to be two or three years before regulations become final.

That's too long to wait, say drone industry officials. Every year the ban remains in place, the United States loses more than $10 billion in potential economic benefits that drones could provide, according to the Association for Unmanned Vehicle Systems International, a trade group.

"We need some sort of process that allows some of the low-risk operations," said Jesse Kallman, the head of regulatory affairs for Airware, a drone technology company backed by Google Ventures. "I think Congress understands that, and hopefully they'll take steps in the coming year to address that."

That appears to be what some key lawmakers have in mind. "We in Congress are very interested in UAS," Rep. Bill Shuster, R-Pa., chairman of the House Transportation and Infrastructure Committee, said at a hearing this month, referring to unmanned aerial systems, or drones. "We understand UAS are an exciting technology with the potential to transform parts of our economy. ... It is our responsibility to take a close look."

One of the committee's first priorities next year is writing legislation to reauthorize FAA programs and overhaul aviation policy. The bill is expected to include directions from lawmakers on how to integrate drones into the nation's aviation system. The last reauthorization bill, passed in 2012, directed the agency to integrate drones by Sept. 30, 2015, but it's clear the FAA will miss that deadline.

The FAA is expected to propose restricting drones weighing less than 55 pounds to altitudes below 400 feet, forbid nighttime flights and require drones be kept within sight of their operators. Drone operators may also be required to get pilot's licenses, a possibility already drawing fire from critics who say the skills needed to fly a manned aircraft are different from those needed to operate a drone.

Shuster indicated he's concerned that requiring pilot's licenses might be burdensome and unnecessary. And keeping drones within sight of operators would be too strict and limit their usefulness, he said.

The reason for keeping drones within line of sight is that they don't yet have the ability to detect and avoid other aircraft.

AUVSI, the drone industry trade group, recently hired Mark Aitken, former legislative director to Rep. Frank LoBiondo, R-N.J., as its government relations manager. LoBiondo is chairman of the House Subcommittee on Aviation, which will write the FAA reauthorization bill.

"We're really looking at an incremental approach still," Aitken said. "It's not something that is going to happen overnight."

FAA officials have been working on drone regulations for nearly a decade. The agency twice drafted regulations that were later rejected by the White House or Transportation Department. The FAA has long maintained that unmanned aircraft must meet the same regulations as manned aircraft unless waiving or adjusting those regulations doesn't create a safety risk. However, FAA officials more recently have begun talking about "risk-based" regulations, giving industry officials hope the agency might propose a blanket exemption from regulations for the smallest drones — usually defined as weighing under 5 pounds — as long as operators follow a few basic safety rules. Canadian authorities recently approved a blanket exemption for very small drones.

Congress already is getting pushback from private and commercial pilots who worry about possible collisions. The FAA receives reports nearly every day about drones sighted flying near manned aircraft or airports.

"As a (Boeing) 737 captain, I'll be damned if myself and 178 other people are taken down by a 12-pound or a 50-pound or a 150-pound piece of metal coming through my windshield," said Ben Berman at a recent forum hosted by the Air Line Pilots Association. "There are too many near misses occurring every day like this."

Mark Baker, president of the Aircraft Owners and Pilots Association, which represents private pilots, said online videos show that "operators are flying near airports, in the clouds and in congested airspace." He called such actions "reckless" and said they will inevitably lead to a collision.

FAA regulations permit recreational users to fly small drones as long as they stay at least 5 miles away from an airport, limit flights to less than 400 feet in altitude, keep the aircraft in line of sight and fly only during the daytime.

Last week, drone industry trade groups teamed up with the FAA and model aircraft hobbyists to launch a safety campaign aimed at amateur drone operations. The campaign includes a website, www.knowbeforeyoufly.com , where operators can find FAA regulations and advice on how to fly safely. The trade groups said they also plan to distribute safety pamphlets at industry events and are working with manufacturers to see that safety information is enclosed inside the package of new drones.

Retailers say small drones, which are indistinguishable from today's more sophisticated model aircraft, were popular gifts this Christmas.

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Follow Joan Lowy on Twitter at http://www.twitter.com/AP_Joan_Lowy

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Online:

Drone safety campaign: http://www.knowbeforeyoufly.com

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Russian ruble drops 7 percent as economy shrinks

MOSCOW — The Russian currency extended its losses on Monday after a report showed the economy has started shrinking in annual terms for the first time since 2009 as the country is buffeted by falling oil prices and Western sanctions.

Meanwhile, the government, which has been scrambling to support the ruble and the economy, announced fresh steps to keep the banks afloat.

The ruble has been one of the world's worst performing currencies this year and was down another 5 percent on Monday, trading at 56 rubles per dollar in early afternoon in Moscow, wiping off some of the gains it made last week.

The fall came as the Economic Development Ministry issued a report showing the economy shrank by 0.5 percent in November compared with a year earlier. The ministry attributed the year-on-year decline in the economy, Russia's first in five years, to a sharp drop in manufacturing and investment.

The economy has been buffeted by a combination of lower prices for the country's crucial oil exports and the impact of Western sanctions.

Stabilizing the ruble is a priority for the country's monetary authorities. The Central Bank in past weeks raised its key interest rate to 17 percent and said it will offer dollar and euro loans to banks so they can help major exporters that need foreign currencies to finance operations.

The bank's foreign currency reserve has now dropped below $400 billion for the first time since August 2009, as the government has been selling the currency on the market to support the ruble.

Many Russian companies and banks have been locked out of Western capital markets following the sanctions imposed on the country for its involvement in Ukraine.

The government on Monday announced new steps to prop up the banking sector. Prime Minister Dmitry Medvedev told a government session that he has just signed a decree to provide a total of 1 trillion rubles ($19.6 billion) to Russian banks. The list of the banks and the amount that each of them will receive is expected drawn up by mid-January, according to Deputy Prime Minister Igor Shuvalov.

Shuvalov said the measures should help "the banking sector be more stable in the new circumstances and safeguard it from new shocks if they do occur," he was quoted by Tass.

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Greece heads for early election, stoking financial concerns

ATHENS, Greece — Greece will hold early national elections on Jan. 25, stoking concerns over the future of the country's financial bailout, after lawmakers failed to elect a new president in a third and final round of voting Monday.

The conservative-led coalition government's candidate for the presidential post, 73-year-old former European commissioner Stavros Dimas, garnered 168 votes from parliament's 300 seats — short of the 180 votes needed to win.

According to the country's constitution, parliament must now be dissolved within 10 days. Prime Minister Antonis Samaras said national elections will be held "at the soonest possible date" — Sunday, Jan. 25.

"The country has no time to waste," he said in a televised address just after the presidential vote. "I am here to guarantee that the country continues on a safe course ... so that the sacrifices made and the (economic) recovery are not endangered."

The government's fall — two and a half years into its four-year mandate — comes among deep uncertainty over the debt-ridden country's international bailout. Investors sold off Greek stocks Monday, with the Athens stock exchange's benchmark general index losing 7.3 percent in midday trading, after falling as much as 11.3 percent just after the vote.

Investors are worried that the main left-wing main opposition Syriza, which is consistently ahead in opinion polls, might try to renege on the terms of the bailout deal that is keeping the country afloat.

Syriza has pledged to roll back some of the reforms the country has implemented in order to qualify for billions of euros in rescue funds from other eurozone countries and the International Monetary Fund — although it has recently somewhat softened its rhetoric about unilaterally pulling out of the bailout deal.

"The main opposition party today forced elections," senior conservative lawmaker Dora Bakoyiannis said. "Elections at the worst possible moment for the country's economy."

Syriza leader Alexis Tsipras said Monday's vote marked a "historic day for Greek democracy."

"When the majority of the people is determined to end the policies of the bailout agreements and austerity, then lawmakers can do no else than respond to their duty to keep in line with the will of the people," he said.

"Today Mr Samaras' government, which for two and a half years plundered our society and had already decided and committed to take new measures, belongs to the past," Tsipras added. "With the will of our people, in a few days, the austerity agreements will also belong to the past.

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Vermont Yankee plant prepares to shut down

VERNON, Vt. — The Vermont Yankee nuclear plant is getting ready to shut down.

Its owner, Entergy Corp., says it is closing the plant for economic reasons. The plant in Vernon is expected to disconnect from the regional power grid Monday.

The plant employed more than 600 people when it announced it would close. The workforce will be cut in half after a round of layoffs and retirements Jan. 19.

In 2016, the plant will see another big reduction as it prepares for a 30-year period during which time its radiation will cool. The plant likely won't be dismantled until the 2040s or later.

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Allianz says it's lead insurer for AirAsia plane

BERLIN — Allianz says it is the lead insurance firm for the AirAsia jetliner that went missing off Indonesia with 162 people on board.

The Munich-based reinsurance giant said Monday that its subsidiary Allianz Global Corporate & Specialty UK is the lead insurer for AirAsia, including for liability insurance.

Allianz said in a statement that it is too early to comment on the incident itself, but expressed its support for those affected by it.

An international search is underway to determine the fate of AirAsia Flight 8501, which disappeared from radar Sunday morning over the Java Sea on its way from Surabaya, Indonesia, to Singapore.

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