Business News at 5:45 p.m.
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ADDS: FEDERAL RESERVE-SUMMERS, FBN--JAGUARS-TV, ROMANIA-GOLD MINE PROTEST
NOTE: Wall Street Week Ahead did not move this week.
WASHINGTON Lawrence Summers, who was considered the leading candidate to replace current Federal Reserve Chairman Ben Bernanke, has withdrawn his name from consideration. By Martin Crutsinger and Julie Pace. SENT: 500 words, photo. UPCOMING by 7:30 p.m.: 1,000 words.
NEW YORK The Pope. President Obama. Queen Elizabeth. Oprah. You. When Twitter started seven years ago as an obscure medium for geeks, critics dismissed it as an exercise in narcissism. Some thought it would be as intriguing as watching people gaze at their bellybuttons. But it quickly matured into a worldwide messaging service used by everyone from heads of state to revolutionaries to companies trying to hawk products. Now, Twitter is taking the next critical step in its evolution selling stock to the public. It promises to be the most hyped and scrutinized initial public offerings since Facebook's Wall Street debut in May 2012. To be successful, the company will need to become an advertising behemoth and prove that the same service that has already helped change the course of history can also make money. By Technology Writer Barbara Ortutay. SENT: 1050 words, photo.
WASHINGTON Motorists coming off the Frederick Douglass Memorial Bridge into Washington are treated to a postcard-perfect view of the U.S. Capitol. The bridge itself, however, is about as ugly as it gets: The steel underpinnings have thinned since the structure was built in 1950, and the span is pocked with rust and crumbling concrete. There are plenty of other problem bridges nationwide. The Associated Press analyzed data involving 607,380 bridges in the National Bridge Inventory. Acccording to the most recent federal data, there are 7,795 bridges that trigger two key safety concerns a combination of red flags that experts say indicate significant disrepair and similar risk of collapse. By Joan Lowy and Mike Baker. SENT: 1,900 words for print release Monday, Sept. 16, photos, video. ALSO SENT: Abridged, 1,530 words.
MARKETS & ECONOMY:
WASHINGTON On the fifth anniversary of the Lehman Brothers collapse, President Barack Obama says the Republican focus on budget tightening could widen income disparities in the nation even as the economy climbs out of a debilitating recession. Trying to lay claim to an economic turnaround, Obama acknowledged that despite progress, middle and low-income Americans have not benefited as much as the top 1 percent in the country. By Jim Kuhnhenn SENT: 11150 words, photos.
COPPER KING HEIRESS
NEW YORK She had wealth few could boast and used it to finance a life few would choose: an heiress to the fortune of the founder of Las Vegas, spending 20 years voluntarily in New York hospital rooms. Now Huguette Clark's reclusive existence is set to be scrutinized in a Manhattan courtroom, where jury selection is expected to start Tuesday for a civil trial over her will. The case raises complex questions about aging, caregiving and the line between encouraging gratitude and extracting gifts. By Jennifer Peltz. SENT: 700 words, photos.
HELENA Butte, a mining town a century removed from its heyday, is the unlikely landing spot this week for some of the business world's biggest names.
Google's Eric Schmidt and Facebook's Sheryl Sandberg will be joined by CEOs from companies like Ford, Boeing, Delta Airlines, FedEx, electric super car-maker Tesla, ConocoPhillips and Hewlett-Packard. The glittering luminaries, drawn by the invitation of retiring Senate Finance Committee Chairman Max Baucus, will be joined by other business leaders in an economically struggling city that was once one of the largest west of the Mississippi and dubbed "the world's richest hill." By Matt Gouras. SENT: 700 words, photo.
FOOD-CHEF WANTED Locals looking to land a buzz-worthy, foodie-friendly restaurant are offering the right chef a novel deal: Come to Catskill with a killer concept and get space on Main Street rent free. By Michael Hill. SENT: 700 words, photos.
TECHNOLOGY & MEDIA:
PAKISTAN-YOUTUBE BAN New
ISLAMABAD ToffeeTV has hit an unexpected snag. The Internet startup depended on YouTube to promote "Hokey-Pokey," ''The Umm Nyum Nyum Song" and other language-teaching clips it produces for children, but the video-sharing website has been banned in Pakistan for nearly a year. The ban was imposed to block videos that offended Muslims, but the unintended victims are educators, students and companies like ToffeeTV. Now a court petition to end Internet censorship will test Pakistan's balancing act between religious feelings and secular democracy. By Rebecca Santana. SENT: 900 words, photos
LOS ANGELES Moviegoers were in the mood for a fright this weekend, sending "Insidious: Chapter 2" to the top of the box office. The haunted-house horror flick debuted in first place with $41 million. Another newcomer, the Robert DeNiro-Michelle Pfeiffer crime caper "The Family," opened in second place with $14.5 million. That bumped last week's champ, "Riddick," to third. By Sandy Cohen. UPCOMING: 130 words by 9:30 am PDT, updated by 11:30 am. Photos.
FBN--JAGUARS-TV An Orlando television station has issued an on-air explanation for why it's airing the struggling Jacksonville Jaguars while many NFL fans probably would have preferred seeing the Denver Broncos-New York Giants game, a possible Super Bowl preview featuring the Peyton and Eli Manning.
TOKYO Japan will once again be without atomic energy as its only operating nuclear reactor goes offline for refueling and maintenance, and other plants remain closed for intensified safety checks following the 2011 meltdowns at the tsunami-stricken plant in Fukushima. But despite signs that the Fukushima crisis is worsening, Japan's commitment to restarting many of its 50 idled reactors appears stronger than ever, a year after a previous government said it would begin to phase out nuclear power completely. By Elaine Kurtenbach. SENT: 1,000 words, photo.
GIGLIO ISLAND, Italy Authorities have given the final go-ahead for a daring attempt Monday to pull upright the crippled Costa Concordia cruise liner from its side in the waters off Tuscany, a make-or-break engineering feat that has never before been tried in such conditions. Thirty-two people died in the accident and the bodies of two of the dead have never been recovered. By Francis D'Emilio. SENT: 850 words. Photos, Video.
ROMANIA-GOLD MINE PROTEST Thousands marched through Bucharest to protest a controversial plan by a Canadian company to build Europe's biggest gold mine in Romania.