The Ticker

Ukrainian hackers attack retailers' data

Ukrainian hackers have attacked several dozen small- and medium-sized U.S. retailers in data raids that appear to be smaller and less sophisticated than the ones that hit Target Corp. and Neiman Marcus Group Ltd., according to Bedford-based RSA Security. 
 RSA discovered the theft when it found a large cache of stolen data on a server used by the hackers, according to an analysis posted on the company's website yesterday. The breach, which started Oct. 25 and continued into last week, affected at least 41 companies, including one medium-sized retailer and several gas station chains, said an RSA executive, who asked not to be named because the details are confidential. The hackers compromised credit-card data for about 50,000 customers, an RSA executive said.

RSA said it has notified the FBI and the retailers, which it declined to identify.

State economic growth outpaces U.S.

Massachusetts' real gross domestic product grew at an estimated annual rate of 5.5 percent in the fourth quarter of 2013, outpacing the nation's GDP, which grew at an annual rate of just 3.2 percent, according to a new report.

State economic growth last year exceeded that of the nation in three of four quarters, according to MassBenchmarks, the journal of the Bay State economy.

"The Massachusetts economy appears to be 
benefitting from improving conditions in national and international economies, and by increasingly confident households who are demonstrating a willingness to spend," Alan Clayton-Matthews, MassBenchmarks' senior contributing editor and associate professor of economics and public policy at Northeastern University, said in a statement.

Practically Green raises $3 million

Boston-based start-up Practically Green has raised $3 million, the company said.

Founded in 2010, Practically Green works with employers to create sustainability programs for employees through projects and competitions. Its mobile and Web apps encourage users to keep track of water usage, energy conservation and other categories. Clients include Unilever, MGM Resorts International, NBC Universal and eBay.

Today

 Commerce Department releases personal income and spending for December.

 Labor Department releases the fourth-quarter employment cost index.

THE SHUFFLE

South Shore Bank has announced James M. Dunphy has joined the bank as an executive vice president. Dunphy will oversee South Shore Bank's commercial lending, credit and small business lending operations.

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John Henry makes himself Globe publisher, Sheehan to be CEO

Red Sox owner John Henry named himself publisher of The Boston Globe yesterday and former Hill Holliday head Mike Sheehan as chief executive officer — a move that demonstrates Henry's day-to-day focus on the broadsheet, Sheehan told the Herald.

"He's going to be very active in the strategic direction overall at the Globe, which he's eminently capable of doing," said Sheehan. "It's a reflection that he is going to be active. ... This is not a hobby."

Henry will focus on strategy, while Sheehan will handle business growth and a still-to-be-hired chief operating officer will oversee the day-to-day business operations, said Sheehan.

Asked if former Hill Holliday executive Jack Connors — who once tried to buy the paper — would be involved with Henry's venture, Sheehan said, "That's a question for John, but I've not heard that."

Sheehan officially resigned as Hill Holliday chairman about 10 days ago and had been serving as an ad consultant to Henry before the two discussed the leadership structure this week, he said.

"I've spent 30 years with CFOs and CEOs of companies helping to build their business," said Sheehan. "Now I get to apply that specifically to the Globe."

Henry takes over for former publisher Christopher Mayer, who announced his abrupt resignation a few hours after Henry addressed the Greater Boston Chamber of Commerce earlier this month.

Sheehan, like Henry, stressed the importance of the Hub remaining a two-newspaper town.

"I believe the stronger the Herald is, the stronger the Globe is," said Sheehan, "and the stronger Boston is."

Sheehan is also the treasurer of The One Fund Boston, the charity that raises money for Boston Marathon victims.

Henry declined comment to the Herald yesterday through a spokeswoman, but said in a statement: "My main role as publisher is to ensure that the Globe has the right management and that management has the resources to accomplish its mission."

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Panel: We’d refund $85M casino fees

The state Gaming Commission is advancing an idea to refund casinos their hefty $85 million licensing fee if a well-funded push to overturn the Bay State's gaming law is successful, which would put a serious crimp in the state budget that relies on those fees to fund transportation and other projects.

A commission rep has been asked to testify about the issue at an upcoming hearing of the Joint Committee on Economic Development, which is studying the ramifications of the effort to put a casino repeal question on the November ballot. License applicants are concerned they will pay the license fee — $85 million for a resort casino, $25 million for a slots parlor — and have nothing to show for it if gaming is outlawed.

"That's not fair," Gaming Commission Chairman Stephen Crosby said. "We hear that, and one reasonable fix would be for the Legislature to do whatever it would have to do to make that money refundable in the unlikely event that that all happened."

Crosby said any legislative fix should be in place before Feb. 28, when the commission will award the state's first and only slots parlor license. The chairmen of the joint economic development committee, Sen. Gale Candaras of Wilbraham and Rep. Joseph Wagner of Chicopee, did not return calls for comment.

This year's state budget originally counted on $195 million in licensing revenue from two casinos and one slots parlor, but that was recently adjusted to $110 million out of concern one of the casinos would be licensed too close to the end of the fiscal year.

"The budget is built on a number of assumptions that we closely monitor throughout the year, and this is one," said Alex Zaroulis, spokeswoman for the Executive Office of Administration and Finance.

Gov. Deval Patrick's budget for next year anticipates $53 million in gaming license revenue and $20 million in taxes on revenue a new gaming facility will generate. Patrick's office declined to comment on whether he'd support refunding the money if the casino law is overturned.

The group working to strike down the casino law, Repeal the Casino Deal, raised $175,476 last year, and is petitioning the Supreme Judicial Court to get on the November ballot over the objection of Attorney General Martha Coakley, who argues the question would violate the implied contractual rights of license applicants. A coalition of casino and slots proponents have hired a lawyer, Carl Valvo, and filed a motion to intervene in the case. The court will hear arguments in May.

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Mass. grants $40 million for health initiatives

BOSTON — Gov. Deval Patrick has announced that more than $40 million in grants will be awarded to community-based programs for preventing chronic illnesses by cutting health care costs.

Nine community-based partnerships, including the Boston Public Health Commission, city of Worcester and city of Lynn are among the recipients.

The initiative is intended to reduce costs tied to diseases such as diabetes, obesity and asthma that can be prevented if people know how to maintain and manage their health.

Each of the grantees under the Prevention and Wellness Trust Fund will receive up to $250,000 initially.

Additional funding will be awarded for grantees that show promise over the next three years. Funding will be subjected to the specific health and cost savings benchmarks administered by the Department of Public Health.

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Siemens net profit rises 20 percent, orders up

FRANKFURT, Germany — Industrial equipment maker Siemens AG said quarterly net profit rose 20 percent as the company moved past one-time charges for delays delivering high-speed trains.

Net profit rose to 1.46 billion euros ($2 billion) in the fourth quarter of 2013, the company's fiscal first. That was up from 1.21 billion euros a year ago.

Last year the company had 116 million euros in charges connected to delay in production of trains for Germany's railway company, and a 150 million euro loss at its solar power business. This year's figure also had stronger gains for real estate sales.

But while the bottom line improved, a stronger euro and slower demand in emerging markets hurt top-line revenues. They were down 3 percent at 17.325 billion euros.

Orders — a key determiner of future profits — rose 9 percent. Saudi Arabia helped with a 1.6 billion euro order for two driverless subway lines in the capital, Riyadh.

CEO Joe Kaeser called it a "sound quarter," adding that "market conditions were not in our favor."

Siemens said Tuesday expects "challenging" markets this year. It predicted it would grow net profit by 15 percent, assuming flats sales with currency effects excluded.

The Munich-based company also said it was withdrawing its listing on the New York Stock Exchange. It says the U.S. accounted for less than 5 percent of its global trading volume and that ending the listing would simplify financial reporting. Siemens has traded as ADRs, or American Depositary Receipts.

Siemens shares rose 1.6 percent to 98.98 euros in morning trading in Europe.

Siemens makes a wide range of heavy equipment and infrastructure, including trains, power turbines, and medical diagnostic devices.

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India's central bank hikes key interest rate

NEW DELHI — India's central bank raised its key interest rate for the third time in four months Tuesday and its governor said combating stubbornly high inflation is the top priority despite an "increasingly worrisome" slowdown in economic growth.

The announcement of a quarter percentage point increase in the lending rate Tuesday to 8 percent sent Indian stocks lower, adding to losses accumulated during a sell-off in emerging markets that began late last week.

Investors had hoped that the Reserve Bank of India would leave the rate at which it lends to banks unchanged after a dip in December inflation to 6.2 percent and a decline in the current account deficit.

Reserve Bank chief Raghuram Rajan said Tuesday that inflation is a far greater short-term risk to the economy than slower growth because it hurts the poor the most and discourages spending.

"The so-called trade-off between inflation and growth is a false trade-off in the long run," Rajan said. "It is possible to bring inflation under control without a substantial sacrifice of short-term growth, provided we do what is necessary and are patient."

At the same time, the central bank cut its economic growth forecast for the fiscal year ending March to 4.6 percent from 5 percent.

Still, he predicted the economy could recover to 5-6 percent growth in the year ending March 2015 provided the global economy improves, inflation eases and investment projects worth more than $63.5 billion move ahead.

The Sensex index was down 0.3 percent to 20,644.53 on news of the rate increase.

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Sochi to be `mobile games'

If the 2012 Olympics in London were the first-ever "social games," then Sochi's festivities will be the first "mobile games."

AT&T, Samsung, NBC and Team USA are just some of the big names that have developed mobile apps for the 2014 Winter Olympics, which begin next week.

The offerings range from cheesy games to useful encyclopedias of Olympic knowledge, allowing spectators to virtually follow the path of the torch, keep tabs on their favorite teams and view exclusive content.

Whether you want to track the multiple Bruins players who will be representing their home countries, stay in the loop on Andover native halfpipe skier Annalisa Drew, Sudbury figure skater Simon Shnapir, Melrose bobsledder Steven Langton, or the many members of the women's ice hockey team who hail from the Bay State — the following apps are your best bets:

• Team USA Road to Sochi app (iOS and Android): The best part about this sleek, well-designed app is the ability to add your favorite players to your own "team."

That makes it so their results, recent videos and more are at your fingertips. Users can also send a virtual "cheer" to athletes.

• The Olympic Athletes' Hub (iOS and Android): This app goes beyond Team USA to include thousands of social media profiles of Olympians.

The Athletes' Hub also tells you what's trending on Twitter so you won't miss any high-profile meltdowns.

• AT&T's #itsOurTime app (iOS and Android): For the patriotic diehards among us, this app invites users to videotape themselves chanting "U-S-A!"

If you can get past the awkwardness, this app is surely one that the athletes will check to get fired up.

• Sochi.ru 2014 (iOS and Android): This app can help you plan that last-minute trip to Sochi. And if a trip isn't in the cards, it also helps you feel like you're there. The Sochi app features information on every event, each mile of the torch's relay through Russia, and an interactive map of the Olympic village.

• NBC Sports Live Extra (iOS and Android): This is the only way to watch each sporting event live while you're on the go, but it was plagued with problems during the 2012 games in London.

Unfortunately, you have to be a paid cable subscriber and will need your user name and password for your account to gain access to live streaming.

The performance of this app is partly responsible for the now-infamous hashtag #NBCFail that was trending two years ago, so here's hoping it has improved.

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Rider’s ‘ghost bike’ spurs safety innovation

The white "ghost bike" at Huntington Avenue and Forsyth Street haunted Amir Farjadian and Qingchao Kong each time they rode past it on their way to Northeastern University.

It had been left there in June 2012 in memory of Kelsey Rennebohm, a Boston College graduate student and fellow bicyclist who died after a collision with a bus. And although the two engineering students didn't know Rennebohm, the ghost bike was enough to make them rethink their focus on stationary bicycles at Northeastern's Biomedical Mechatronics Laboratory.

"We found there were many products out there for exercise but almost nothing for safety, even though almost two people die every day in this country due to cycling accidents," Farjadian said, "and more than 130 people are injured."

Working with a team of undergraduate students led by Professor Constantinos Mavroidis, the two Ph.D. candidates began work last year on an accident-prevention system designed to turn any bicycle into a "smart bike."

Consoles attached to the front and back of the bicycle project lasers onto the road, creating a virtual bike lane that blinks if a car intrudes.

The consoles also contain sensors to determine the bike's proximity to objects moving around it.

"Based on that distance," Farjadian said, "we can calculate the relative speed and predict whether the two are about to collide."

If they are, a speaker on the front console emits a sound similar to that of a car horn to alert both the cyclist and the driver.

LED turn signals are built into the front and rear consoles and automated through a smartphone app and GPS.

A cyclist who's unsure of directions simply enters the destination and follows the turn signals.

If the cyclist is approaching an intersection without slowing down, Kong said, the bike's handlebars vibrate.

The entire system will retail for about $100 and could be on the market by the end of the year, Mavroidis said.

"Cycling has many benefits — for your health, for your wallet, for the environment," Farjadian said.

"If we can do something about the safety, we'll have addressed the one thing that's missing."

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After loss, LG sees lower profit, currency risks

SEOUL, South Korea — LG Electronics Inc. is forecasting lower earnings from its mobile business this quarter and risks from swings in Latin American currencies after posting an unexpected loss in the final three months of 2013.

The latest results from LG Electronics, the world's second-largest TV maker and a major device supplier, underline how it is being squeezed between Japanese competitors and its bigger South Korean rival Samsung Electronics Co.

LG is battling Japanese manufacturers such as Sony and Panasonic that are expanding market share in televisions, helped by the weak yen. The company is struggling to make money from the smartphone market where Samsung and Apple Inc. have grabbed the lion share of the profits.

LG Electronics suffered a loss in the final quarter of 2013 because of the stronger South Korean currency while higher marketing costs and falling smartphone prices continued to batter its mobile business.

The South Korean tech company said Monday its net loss for October-December was 63.4 billion won ($58.5 million). That's far smaller than a 478.2 billion won loss a year earlier. But analysts polled by FactSet expected net income of 147.8 billion won. Sales for the fourth-quarter inched up 1 percent from a year earlier to 14.9 trillion won.

The maker of G flex smartphone said the quarterly loss, the first in four quarters, was mainly due to foreign exchange movements. The company blamed the strong local currency against the U.S. dollar and the Japanese yen as well as fluctuations in currency rates that usually mean higher costs. LG manufactures most of its home appliance products in South Korea and ships overseas.

Chief Financial Officer Jung Do-hyun said unstable currency movements in Latin America and other emerging markets would remain a big risk. About 20 percent of LG's mobile phone sales came from Brazil and other South American countries last year. Argentina's peso lost 16 percent over two days last week.

Among LG's consumer electronics businesses, mobile was the only division that lost money during the fourth quarter.

Profit at LG's flagship TV business surged to 174.3 billion won from a mere 800 million won a year earlier. That was thanks to improved sales of LCD TVs in developed countries and efficient marketing spending to promote high-tier televisions, LG said.

But LG's mobile communications business lost 43.4 billion won, staying in red for a second quarter, despite higher sales from increased smartphone shipments. Shipments of its flagship G2 and other smartphones reached 13 million units in the quarter, a record high for the company.

LG attributed the mobile division's loss to increased spending on marketing and declining smartphone prices, an issue that nags other mobile phone vendors as growth in smartphone sales slows in developed countries.

The company said its mobile phone sales will improve when new products are released later this year. But analysts questioned if LG's upcoming devices can compete with the successor to Apple's iPhone 5S.

Jung said the company will likely report lower operating income for the first three months of this year as sales of TVs and mobile phones drop during a typically slow season for the consumer electronics.

For 2014, LG forecast a 7 percent gain in annual revenue and about a 20 percent increase in capital spending. The company said it budgeted 3 trillion won for capital expenditure for this year. The company's guidance for 2013 capital spending was 2.5 trillion won.

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