White House: GOP bill 'reckless,' 'irresponsible'

WASHINGTON — The White House says a House Republican bill that would delay a major provision of President Barack Obama's health care law is reckless and irresponsible.

Obama spokesman Jay Carney also says any Republican who votes for the bill is "voting for a shutdown." He notes that House Republicans have tried and failed to delay or eliminate the law's funding more than 40 times.

The House is expected to vote on the bill Saturday night.

The bill would delay for one year the requirement for nearly all uninsured people to buy health insurance or face penalties. It also would repeal a tax on medical devices.

Obama has said he will not delay his signature legislative achievement. The White House also has expressed opposition to repealing the medical devices tax.

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Friendly’s fights slide

Two years after filing for bankruptcy, Friendly's Ice Cream continues to churn away at a tall order: reinvigorating a 78-year-old chain competing against the likes of Applebee's, Panera, IHOP and Chipotle.

While analysts cite progress important to a turnaround — in customer service, and menu and restaurant updates — some question whether the Wilbraham-based chain can survive in the long run.

Customer satisfaction surveys show consumers like the changes, according to Darren Tristano, executive vice president of Technomic, a Chicago food industry consulting and research firm.

"The important element is will they be able to sustain that positive reaction?" he said. "It will take continuous effort. As some of these older brands continue to age, it gets increasingly difficult to turn them around."

Friendly's CEO John Maguire — a Weymouth native and former Panera COO who joined the company in April 2012 — said Friendly's has seen steady progress in three focus areas: the friendliness and retraining of employees; food quality and menu changes; and the cleanliness and energy level of its restaurants.

By year's end, Friendly's expects to have renovated 45 restaurants, with another 50 planned for 2014.

"We have a long ways to go," Maguire said. "We're just starting out, so sales increases will come as we get more consistent and make the improvements we need to make."

Friendly's expects about $500 million in revenue this year — down from 
$700 million in 2011 — from 355 restaurants and ice cream sales at 7,500 supermarkets and other retailers.

"We're going to exceed our profit expectation for 2013," Maguire said. "We grew in 2012, and we'll grow our earnings in 2013."

Friendly's filed for Chapter 11 bankruptcy in October 2011, citing the economic downturn and rising commodity prices. Over time, it had stopped investing in its employees, quality of its food, and the cleanliness and upkeep of its restaurants, according to Maguire. "If we (address those issues), we'll survive," he said.

Friendly's closed about 100 restaurants before emerging from bankruptcy protection in January 2012 as a leaner chain under an affiliate of private investment firm Sun Capital Partners, which acquired Friendly's in 2007.

Maguire disagrees with those who view Friendly's as past its time, noting the chain holds a special place for many customers who visited as children with parents or grandparents.

"There are people who love and always did love and probably always will love Friendly's," agreed Michael Tesler, senior marketing lecturer at Bentley College. "But I don't know if there is enough. Time has sort of passed by Friendly's between Panera and Chipotle and Shake Shack and Tasty Burger."

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App’s the way to monitor baby

A Boston-based MassChallenge finalist is taking baby-monitoring beyond devices that record only sight or sound.

The SensibleBaby SmartOne is a onesie with a front pocket containing an embedded sensor that sends a constant signal to a nearby smartphone via an app that alerts parents when a sleeping infant is too hot, too cold or sleeping on his or her stomach.

"We want to be a co-parenting tool that empowers people with information so that they don't have to worry about their child," said SensibleBaby CEO Ben Cooper, who's expecting his first child in December.

Cooper and his three co-founders — Jeff Tagen, Jill Ju and Jack Sivak — met as strangers in March at Start-up Weekend, a 54-hour marathon during which aspiring entrepreneurs form teams, pitch an idea and make it a reality.

The four decided to try to create something better than baby-monitoring audio recorders and video cameras on the market.

"Audio monitors are wonderful, but if you're not listening, they don't help," said Cooper, 29. "We wanted to only alert parents when they need to act."

By the end of the weekend, they had a name for their new company, a logo, a website and a working prototype consisting of a taped-together sensor that dropped into a hand-sewn sock.

"It wasn't very pretty," Cooper recalled with a laugh, "but it worked."

It worked well enough that the four won, and one of their prizes was a waived application fee to MassChallenge, the Boston start-up accelerator and $1 million competition, which wraps up on Oct. 30.

In the meantime, the team won $100,000 through Founder.org and is using the money to refine and test their product for what they hope will be a launch in the first quarter of next year.

SmartOne sets will contain a sensor and three onesies, and will sell for between $100 and $150 in baby boutiques and on the company's website, mysensiblebaby.com.

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State Senate votes 38-0 to repeal tech tax

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

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

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

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Delegation: Delay flood zone hikes

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

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

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

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

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

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

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

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

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

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

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Boston building boom creates 8,700 jobs

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

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

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

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

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

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

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

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

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

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

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

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Tech tax repeal moves to state Senate’s court

The state Senate is poised today to follow the lead of the House, which voted yesterday to repeal the so-called tech tax in a finger-pointing session that left business leaders concerned that lawmakers just don't understand the technology sector.

"There were some surprising words out there that continue to indicate that (legislators) don't fully understand our industry or even understand it at all, so we need to talk to them," said Andrew Mazzarella of the SPARK Coalition, a group of tech businesses that organized to push for repeal of the tech tax.

The 6.25 percent tax on software services was part of the $500 million transportation financing bill passed in July and it caused an almost immediate outcry from the state's tech industry, which said it would drive away business. Gov. Deval Patrick and House and Senate leaders reversed course earlier this month, agreeing to pursue a repeal of the tax many lawmakers had voted for.

"We got what we needed," said Joe Baz, president of the SPARK Coalition, adding the group will make sure lawmakers have a better sense of what matters to the tech industry. "We're going to be trying to build some more relations with some of the folks that are suggesting there needs to be reform in the process and see how we can continue to protect the interests of small business."

Lawmakers yesterday traded barbs on the House floor, with Democrats calling Republicans "revisionist" and Assistant Minority Leader George Peterson (R-Grafton) telling Democrats, "We told you so."

Boston mayoral candidate and Dorchester state Rep. Martin J. Walsh backed the repeal of the tech tax he initially voted for, dismissing any suggestion the flip-flop would be an issue in the race.

"When the tech tax was originally voted on, the intent of the tax wasn't what it turned out to be. There was a flaw in the legislation in the way it was written," Walsh said.

House Minority Leader Bradley Jones (R-Winthrop) called the tech tax "a stupid thing, and told his colleagues, "Thank you for finally seeing the light of day on this issue."

Gov. Deval Patrick, asked if he'd veto the repeal if it didn't have an appropriate "plug" for the $161 million in lost revenue, said "that's not where I am."

"The Legislature, the leaders and I have talked about the hole that's left in the budget," Patrick said. "I can't deal with it without them, so I'm waiting to see what they do. And whether they do it all today or do it over the next several months remains to be seen."

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World Bank to fund Myanmar power plant upgrade

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

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

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

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

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

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

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

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

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

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Global stocks meander as US budget debate looms

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

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

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

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

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

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

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

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

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

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

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

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

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

___

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

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Boston Herald - Boston Herald

http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/new_zealand_airline_plans_antarctic_ice_landings <p>WELLINGTON, New Zealand — New Zealand's flagship airline plans to fly planes to Antarctica that pilots would land on an ice runway.</p><p>But tourists wanting to travel to the frozen continent will need to keep their hopes in check. The chartered Air New Zealand flights would be for scientists and their support crews, and the airline said Tuesday it has no plans to begin commercial trips.</p><p>Many countries already fly scientists to Antarctica. But those flights are typically run by government or military agencies, or by specialized companies.</p> Business & Markets Tue, 24 Sep 2013 05:25:29 -0400 Associated Press 1063317676 http://bostonherald.com/business/business_markets/2013/09/burger_king_launching_lower_calorie_french_fry <p>NEW YORK — Burger King wants people to feel less guilty about gobbling up its french fries.</p><p>The world's No. 2 hamburger chain is launching a new crinkle-cut french fry on Tuesday that it says has about 20 percent fewer calories than its regular french fries.</p><p>The chain says a small order of the new "Satisfries" clocks in at 270 calories because of a new batter that doesn't absorb as much oil. By comparison, a small order of its regular fries, sans crinkles, has 340 calories.</p> Business & Markets Tue, 24 Sep 2013 01:28:25 -0400 Associated Press 1063317046 http://bostonherald.com/business/business_markets/2013/09/toys_r_us_to_add_45000_seasonal_hires <p>NEW YORK — Toys R Us plans to hire 45,000 seasonal workers at its stores and distribution centers, the same number as last year, as it ramps up for the all-important holiday season.</p><p>Coming off a slower-than-expected back-to-school season, analysts and stores are bracing for a tough holiday shopping period, which accounts for as much as 40 percent of stores' annual revenue.</p><p>Stores typically begin to hire for the holidays in mid-September and ramp up hiring in mid-October.</p> Business & Markets Tue, 24 Sep 2013 00:02:00 -0400 Associated Press 1063317431 http://bostonherald.com/business/real_estate/2013/09/rental_unit_fee_draws_ire_at_city_hall <p>A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316756 http://bostonherald.com/business/technology/technology_news/2013/09/blackberry_sells_to_investor_for_47b <p>Canadian smartphone maker BlackBerry has agreed to sell itself for 
$4.7 billion after failing to turn around a business that floundered despite new phones and a new operating system — in a move by a BlackBerry investor to stabilize the company, experts said.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 1063316776 http://bostonherald.com/business/technology/technology_news/2013/09/massive_gmail_outage_finds_google_off_message <p>Gmail users may be in the market for backup alternatives after Google experienced a massive service outage yesterday that affected millions of users.</p><p>Google first acknowledged a problem at 
10:25 a.m., when its apps status dashboard said the company was investigating reports of "an issue" with Gmail, as well as Google Documents and Google Presentations.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316856 http://bostonherald.com/business/real_estate/2013/09/striking_a_new_balance <p>New Balance broke ground yesterday on its new world headquarters in Brighton, part of a 14-acre development that city and company officials say could be the start of significant redevelopment in the area.</p><p>The project, called New Brighton Landing, includes a hotel, retail space, office buildings and what New Balance describes as professional-caliber sports facilities. The New Balance facility will get started first, to be followed by the other components.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 
and Richard Weir 1063316861 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — Federal regulators announced Monday they are considering slapping a California utility with two violations for problems that eventually led to the permanent closure of the San Onofre nuclear power plant.</p><p>The Nuclear Regulatory Commission said in a report that Southern California Edison failed to identify a flawed design for four replacement steam generators, which led to excessive wear to hundreds of tubes that carried radioactive water.</p> Technology News Mon, 23 Sep 2013 23:03:21 -0400 Associated Press 1063314626 http://bostonherald.com/business/business_markets/2013/09/the_ticker_6 <p><strong>Chrysler files for IPO</strong></p><p>Chrysler Group filed for an initial public offering of stock yesterday.<br />Share price and number to be sold have not been determined. JPMorgan is listed as the investment banker.<br />All the shares to be sold will come from a 41.5 percent stake in Chrysler held by a United Auto Workers retirement trust, the registration document says. The trust wants to cash out so it is liquid enough to pay benefits and not be so heavily invested in a single company.</p> Business & Markets Mon, 23 Sep 2013 22:43:00 -0400 herald.staff 1063317176 http://bostonherald.com/business/business_markets/2013/09/former_qualcomm_exec_charged_with_insider_trading <p>SAN DIEGO — A former senior executive at Qualcomm Inc. made nearly $250,000 in illegal profits from using inside information to buy stock in the wireless technology company and an acquisition target before major public announcements, according to an indictment unsealed Monday.</p> Business & Markets Mon, 23 Sep 2013 20:50:01 -0400 Associated Press 1063315701 http://bostonherald.com/business/business_markets/2013/09/tycoon_plans_8b_chinese_hollywood_studio_complex <p>QINGDAO, China — China's richest man plans to spend 50 billion yuan ($8.2 billion) to build the country's version of Hollywood in the northeastern city of Qingdao.</p><p>In a glitzy, star-studded red carpet event Sunday, Wang Jianlin said his company, Dalian Wanda Group, will build a state-of-the-art film studio complex in a bid to dominate China's rapidly growing movie market.</p> Business & Markets Mon, 23 Sep 2013 20:27:47 -0400 Associated Press 1063313756 http://bostonherald.com/business/business_markets/2013/09/allegiant_1_in_10_tickets_affected_by_md_80_rehab <p>LAS VEGAS — More than one in 10 weekend Allegiant Air passengers were affected by schedule shuffling after the airline grounded its MD-80 fleet for maintenance of emergency exit slides, a company official said Monday.</p><p>After canceling 12 flights on six routes Monday and rescheduling those customers to fly Tuesday, company spokesman Brian Davis said administrators believed the Las Vegas-based airline would eliminate its backlog of flights for at least several days.</p> Business & Markets Mon, 23 Sep 2013 20:15:51 -0400 Associated Press 1063315061 http://bostonherald.com/business/business_markets/2013/09/bank_of_america_told_to_pay_in_discrimination_case <p>CHARLOTTE, N.C. — An administrative law judge with the U.S. Department of Labor has ordered Bank of America to pay black job applicants more than $2 million in back wages and interest to settle a discrimination case.</p><p>A statement from the agency said the Charlotte-based bank applied unfair and inconsistent selection criteria, leading to the rejection of qualified black applicants for teller and entry-level clerical and administrative positions.</p> Business & Markets Mon, 23 Sep 2013 20:07:00 -0400 Associated Press 1063316476 http://bostonherald.com/business/business_markets/2013/09/adm_looking_to_move_longtime_headquarters <p>DECATUR, Ill. — Agribusiness giant Archer Daniels Midland Company said Monday that after 44 years in the small central Illinois city of Decatur, it is looking for a new location for its headquarters with better access to its global customers.</p><p>ADM said it is already considering a list of potential locations for what it's calling its new global headquarters, but doesn't plan to publicly discuss where it could be headed or how long it will take to make the decision. Chicago is among those candidates, city officials said.</p> Business & Markets Mon, 23 Sep 2013 19:59:00 -0400 Associated Press 1063315596 http://bostonherald.com/business/business_markets/2013/09/td_bank_pays_525m_in_charges_tied_to_ponzi_scam <p>WASHINGTON — TD Bank is paying $52.5 million to settle U.S. allegations it failed to report suspicious activity in accounts linked to a $1.2 billion Ponzi scheme and lied about the accounts to investors.</p><p>The Securities and Exchange Commission and the Office of the Comptroller of the Currency announced settlements Monday with the Canadian bank.</p> Business & Markets Mon, 23 Sep 2013 19:38:42 -0400 Associated Press 1063315646 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 17:12:34 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/disney_changing_line_jumping_program_for_disabled <p>ANAHEIM, Calif. — People with disabilities will no longer go straight to the front of lines at Disneyland and Walt Disney World after growing abuse of the system, park officials said.</p><p>Under the change, visitors will be issued tickets with a return time and a shorter wait similar to the FastPass system that's offered to everyone.</p><p>Currently, visitors unable to wait in the regular line can get backdoor access to rides or go through the exit and wait in a shorter line.</p> Business & Markets Mon, 23 Sep 2013 17:08:00 -0400 Associated Press 1063315936 http://bostonherald.com/business/technology/technology_news/2013/09/apples_sales_of_new_iphones_off_to_fast_start <p>SAN FRANCISCO — Gadget lovers still can't resist the iPhone's seductive call, even amid a bevy of enticing lower-priced alternatives that offer similar features.</p><p>In a Monday announcement, Apple Inc. said it sold 9 million units of its top-of-the-line iPhone 5S and less-expensive iPhone 5C during their first three days on sale. That trounced the performance of last year's model, the iPhone 5, which sold 5 million units in its opening weekend.</p> Technology News Mon, 23 Sep 2013 16:36:23 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/microsoft_unveils_new_surface_fixes_shortcomings <p>NEW YORK — Microsoft refreshed its Surface tablet computers Monday, giving them longer battery life and better comfort on laps as the software giant continues its transformation into a devices and services company.</p> Business & Markets Mon, 23 Sep 2013 16:12:52 -0400 Associated Press 1063314721 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 16:00:23 -0400 Associated Press 1063313656

http://bostonherald.com/feed/4 en http://bostonherald.com/business/business_markets/2013/09/new_zealand_airline_plans_antarctic_ice_landings <p>WELLINGTON, New Zealand — New Zealand's flagship airline plans to fly planes to Antarctica that pilots would land on an ice runway.</p><p>But tourists wanting to travel to the frozen continent will need to keep their hopes in check. The chartered Air New Zealand flights would be for scientists and their support crews, and the airline said Tuesday it has no plans to begin commercial trips.</p><p>Many countries already fly scientists to Antarctica. But those flights are typically run by government or military agencies, or by specialized companies.</p> Business & Markets Tue, 24 Sep 2013 05:25:29 -0400 Associated Press 1063317676 http://bostonherald.com/business/business_markets/2013/09/burger_king_launching_lower_calorie_french_fry <p>NEW YORK — Burger King wants people to feel less guilty about gobbling up its french fries.</p><p>The world's No. 2 hamburger chain is launching a new crinkle-cut french fry on Tuesday that it says has about 20 percent fewer calories than its regular french fries.</p><p>The chain says a small order of the new "Satisfries" clocks in at 270 calories because of a new batter that doesn't absorb as much oil. By comparison, a small order of its regular fries, sans crinkles, has 340 calories.</p> Business & Markets Tue, 24 Sep 2013 01:28:25 -0400 Associated Press 1063317046 http://bostonherald.com/business/business_markets/2013/09/toys_r_us_to_add_45000_seasonal_hires <p>NEW YORK — Toys R Us plans to hire 45,000 seasonal workers at its stores and distribution centers, the same number as last year, as it ramps up for the all-important holiday season.</p><p>Coming off a slower-than-expected back-to-school season, analysts and stores are bracing for a tough holiday shopping period, which accounts for as much as 40 percent of stores' annual revenue.</p><p>Stores typically begin to hire for the holidays in mid-September and ramp up hiring in mid-October.</p> Business & Markets Tue, 24 Sep 2013 00:02:00 -0400 Associated Press 1063317431 http://bostonherald.com/business/real_estate/2013/09/rental_unit_fee_draws_ire_at_city_hall <p>A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316756 http://bostonherald.com/business/technology/technology_news/2013/09/blackberry_sells_to_investor_for_47b <p>Canadian smartphone maker BlackBerry has agreed to sell itself for 
$4.7 billion after failing to turn around a business that floundered despite new phones and a new operating system — in a move by a BlackBerry investor to stabilize the company, experts said.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 1063316776 http://bostonherald.com/business/technology/technology_news/2013/09/massive_gmail_outage_finds_google_off_message <p>Gmail users may be in the market for backup alternatives after Google experienced a massive service outage yesterday that affected millions of users.</p><p>Google first acknowledged a problem at 
10:25 a.m., when its apps status dashboard said the company was investigating reports of "an issue" with Gmail, as well as Google Documents and Google Presentations.</p> Technology News Tue, 24 Sep 2013 00:00:00 -0400 Marie Szaniszlo 1063316856 http://bostonherald.com/business/real_estate/2013/09/striking_a_new_balance <p>New Balance broke ground yesterday on its new world headquarters in Brighton, part of a 14-acre development that city and company officials say could be the start of significant redevelopment in the area.</p><p>The project, called New Brighton Landing, includes a hotel, retail space, office buildings and what New Balance describes as professional-caliber sports facilities. The New Balance facility will get started first, to be followed by the other components.</p> Real Estate Tue, 24 Sep 2013 00:00:00 -0400 Jordan Graham 
and Richard Weir 1063316861 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — Federal regulators announced Monday they are considering slapping a California utility with two violations for problems that eventually led to the permanent closure of the San Onofre nuclear power plant.</p><p>The Nuclear Regulatory Commission said in a report that Southern California Edison failed to identify a flawed design for four replacement steam generators, which led to excessive wear to hundreds of tubes that carried radioactive water.</p> Technology News Mon, 23 Sep 2013 23:03:21 -0400 Associated Press 1063314626 http://bostonherald.com/business/business_markets/2013/09/the_ticker_6 <p><strong>Chrysler files for IPO</strong></p><p>Chrysler Group filed for an initial public offering of stock yesterday.<br />Share price and number to be sold have not been determined. JPMorgan is listed as the investment banker.<br />All the shares to be sold will come from a 41.5 percent stake in Chrysler held by a United Auto Workers retirement trust, the registration document says. The trust wants to cash out so it is liquid enough to pay benefits and not be so heavily invested in a single company.</p> Business & Markets Mon, 23 Sep 2013 22:43:00 -0400 herald.staff 1063317176 http://bostonherald.com/business/business_markets/2013/09/former_qualcomm_exec_charged_with_insider_trading <p>SAN DIEGO — A former senior executive at Qualcomm Inc. made nearly $250,000 in illegal profits from using inside information to buy stock in the wireless technology company and an acquisition target before major public announcements, according to an indictment unsealed Monday.</p> Business & Markets Mon, 23 Sep 2013 20:50:01 -0400 Associated Press 1063315701 http://bostonherald.com/business/business_markets/2013/09/tycoon_plans_8b_chinese_hollywood_studio_complex <p>QINGDAO, China — China's richest man plans to spend 50 billion yuan ($8.2 billion) to build the country's version of Hollywood in the northeastern city of Qingdao.</p><p>In a glitzy, star-studded red carpet event Sunday, Wang Jianlin said his company, Dalian Wanda Group, will build a state-of-the-art film studio complex in a bid to dominate China's rapidly growing movie market.</p> Business & Markets Mon, 23 Sep 2013 20:27:47 -0400 Associated Press 1063313756 http://bostonherald.com/business/business_markets/2013/09/allegiant_1_in_10_tickets_affected_by_md_80_rehab <p>LAS VEGAS — More than one in 10 weekend Allegiant Air passengers were affected by schedule shuffling after the airline grounded its MD-80 fleet for maintenance of emergency exit slides, a company official said Monday.</p><p>After canceling 12 flights on six routes Monday and rescheduling those customers to fly Tuesday, company spokesman Brian Davis said administrators believed the Las Vegas-based airline would eliminate its backlog of flights for at least several days.</p> Business & Markets Mon, 23 Sep 2013 20:15:51 -0400 Associated Press 1063315061 http://bostonherald.com/business/business_markets/2013/09/bank_of_america_told_to_pay_in_discrimination_case <p>CHARLOTTE, N.C. — An administrative law judge with the U.S. Department of Labor has ordered Bank of America to pay black job applicants more than $2 million in back wages and interest to settle a discrimination case.</p><p>A statement from the agency said the Charlotte-based bank applied unfair and inconsistent selection criteria, leading to the rejection of qualified black applicants for teller and entry-level clerical and administrative positions.</p> Business & Markets Mon, 23 Sep 2013 20:07:00 -0400 Associated Press 1063316476 http://bostonherald.com/business/business_markets/2013/09/adm_looking_to_move_longtime_headquarters <p>DECATUR, Ill. — Agribusiness giant Archer Daniels Midland Company said Monday that after 44 years in the small central Illinois city of Decatur, it is looking for a new location for its headquarters with better access to its global customers.</p><p>ADM said it is already considering a list of potential locations for what it's calling its new global headquarters, but doesn't plan to publicly discuss where it could be headed or how long it will take to make the decision. Chicago is among those candidates, city officials said.</p> Business & Markets Mon, 23 Sep 2013 19:59:00 -0400 Associated Press 1063315596 http://bostonherald.com/business/business_markets/2013/09/td_bank_pays_525m_in_charges_tied_to_ponzi_scam <p>WASHINGTON — TD Bank is paying $52.5 million to settle U.S. allegations it failed to report suspicious activity in accounts linked to a $1.2 billion Ponzi scheme and lied about the accounts to investors.</p><p>The Securities and Exchange Commission and the Office of the Comptroller of the Currency announced settlements Monday with the Canadian bank.</p> Business & Markets Mon, 23 Sep 2013 19:38:42 -0400 Associated Press 1063315646 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 17:12:34 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/disney_changing_line_jumping_program_for_disabled <p>ANAHEIM, Calif. — People with disabilities will no longer go straight to the front of lines at Disneyland and Walt Disney World after growing abuse of the system, park officials said.</p><p>Under the change, visitors will be issued tickets with a return time and a shorter wait similar to the FastPass system that's offered to everyone.</p><p>Currently, visitors unable to wait in the regular line can get backdoor access to rides or go through the exit and wait in a shorter line.</p> Business & Markets Mon, 23 Sep 2013 17:08:00 -0400 Associated Press 1063315936 http://bostonherald.com/business/technology/technology_news/2013/09/apples_sales_of_new_iphones_off_to_fast_start <p>SAN FRANCISCO — Gadget lovers still can't resist the iPhone's seductive call, even amid a bevy of enticing lower-priced alternatives that offer similar features.</p><p>In a Monday announcement, Apple Inc. said it sold 9 million units of its top-of-the-line iPhone 5S and less-expensive iPhone 5C during their first three days on sale. That trounced the performance of last year's model, the iPhone 5, which sold 5 million units in its opening weekend.</p> Technology News Mon, 23 Sep 2013 16:36:23 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/microsoft_unveils_new_surface_fixes_shortcomings <p>NEW YORK — Microsoft refreshed its Surface tablet computers Monday, giving them longer battery life and better comfort on laps as the software giant continues its transformation into a devices and services company.</p> Business & Markets Mon, 23 Sep 2013 16:12:52 -0400 Associated Press 1063314721 http://bostonherald.com/business/business_markets/2013/09/long_strange_trip_ending_for_vws_hippie_van <p>SAO PAULO — It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending.</p><p>Brazil is the last place in the world still producing the iconic vehicle, or "bus" as it's known by aficionados, but VW says production will end Dec. 31. Safety regulations mandate that every vehicle in Brazil must have air bags and anti-lock braking systems starting in 2014, and the company says it cannot change production to meet the law.</p> Business & Markets Mon, 23 Sep 2013 16:00:23 -0400 Associated Press 1063313656

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