Business News at 1:40 p.m.
Business News at 1:40 p.m.
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NEW YORK — A wealthy architect, a young, widowed Mom and a PacBell employee lost much of their retirement savings and their faith that stock brokers would put their needs ahead of fat commissions and fees. These cases and others are compelling the White House to back tougher standards for brokers at a time when more Americans than ever rely on them for retirement planning. By Bernard Condon. SENT: 1,570 words, photos. Abridged version, 930 words, also SENT.
— BROKERS-STRICTER RULES-TIPS — Here are Four key questions to ask your broker and tips for finding the answers. SENT: 360 words.
AUTO SHOW-LINCOLN CONTINENTAL
DEARBORN, Mich. — Once the sedan of presidents, the Lincoln Continental was mothballed by Ford last decade. Now it's back, in a nod to Lincoln's improved sales in the U.S. and an appetite for luxury brands in China. By Dee-Ann Durbin. SENT: 800 words, photos.
— AUTO SHOW-LINCOLN CONTINENTAL-PHOTO GALLERY — A look at the Lincoln Continental through the years, from 1940s classics to JFK's limousine to the concept being shown at this week's New York auto show. SENT: 250 words, photos.
WASHINGTON — Two companies in a $1.4 billion Asia investment fund managed by Morgan Stanley freeze their stocks and will not file financial statements on time. American investors possibly at risk include a public university's endowment and a foundation for Appalachian children. By Jeff Horwitz. SENT: 840 words. UPCOMING: 900 words by 2 p.m., photo.
JORDAN-TOURISM IN TROUBLE
PETRA, Jordan — It's high season in Petra, an ancient city hewn from rose-colored rock and Jordan's biggest tourist draw, yet nearby hotels stand virtually empty and business is at a standstill. Petra's slump is part of a sharp decline in tourism as Jordan's economy pays a price for the kingdom's role in the U.S.-led battle against Islamic State militants next door. By Karin Laub. SENT: 1,070 words, photos.
The nation's largest health insurer, UnitedHealth, will muscle up in its fight against rising specialty drug costs by spending more than $12 billion to buy pharmacy benefits manager Catamaran Corp. By Tom Murphy. SENT: 660 words, photo.
MARKETS & ECONOMY:
NEW YORK — Major U.S. stock indexes surge in afternoon trading, as investors cheer encouraging economic data and the latest batch of corporate deal news. By Alex Veiga. SENT: 700 words, photos. UPCOMING: 700 words by 5 p.m.
WASHINGTON — Though Ben Bernanke no longer leads the Federal Reserve, he's hardly letting up in his defense of the ultra-low-rate policies he engineered. In his first post as a blogger, Bernanke hits back at critics who he said had accused the Bernanke-led Fed, of among other things, "throwing seniors under the bus." By Martin Crutsinger. SENT: 230 words, photo. UPCOMING: 500 words by 2:30 p.m.
WASHINGTON — U.S. consumers spend slightly more in February following two straight monthly declines and their income rises by a healthy amount, a development that economists hope will keep boosting spending in coming months. By Martin Crutsinger. SENT: 550 words, photo.
PENDING HOME SALES
WASHINGTON — More Americans signed contracts to buy homes in February, evidence that the spring buying season could open strong after sluggish sales for much of the winter. By Josh Boak. SENT: 550 words, photo.
— SEC-TILTON-FRAUD CHARGES — Federal regulators file civil fraud charges against prominent Wall Street executive Lynn Tilton and her investment firms. SENT: 140 words.
— SAUDI-INVESTMENT — The deputy governor of Saudi Arabia's investment authority says the country faces challenges attracting foreign investment outside its oil and gas sectors, but that several initiatives in place are helping to change investors' perceptions. By Aya Batrawy. SENT: 370 words, photos.
— ECONOMIC FORECAST — A business economics group has boosted its outlook for U.S. economic improvement this year and next, particularly for job growth. SENT: 510 words, photos.
DETROIT — Those pricey high-tech systems that automatically stop or slow your car if it's about to run into something are getting a lot cheaper. By Tom Krisher. SENT: 620 words.
NEW YORK — The last Passover matzos have rolled out of a century-old bakery on Manhattan's Lower East Side — a neighborhood that's been dubbed the "Jewish Plymouth Rock." By Verena Dobnik. SENT: 720 words, photos, video.
— TEVA-AUSPEX-ACQUISITION — Teva Pharmaceutical Industries Ltd. is buying Auspex Pharmaceuticals Inc. for about $3.2 billion in a move to strengthen its position on central nervous system condition treatments. SENT: 200 words.
— HORIZON PHARMA-HYPERION-ACQUISITION — Horizon Pharma is buying Hyperion Therapeutics for about $1.1 billion, gaining two treatments for genetic disorders. SENT: 220 words.
— HEALTHWAYS-REVIEW — Healthways' board decides against selling the company after reviewing its strategic options to boost shareholder value. SENT: 120 words.
— MCDONALD'S-ALL-DAY BREAKFAST — McDonald's is going to start testing an all-day breakfast at some locations in the San Diego area starting next month. SENT: 240 words, photo.
— SOUTH KOREA-FIGHTER JETS — South Korea chooses a state-run aircraft maker as the sole preferred bidder for a contract to develop a midlevel fighter jet with the help of Lockheed Martin Corp. in the country's biggest-ever weapons development project. SENT: 240 words, photo.
— GNC-HERBAL PRODUCTS — GNC Holdings Inc. says it has reached a deal with New York Attorney General Eric Schneiderman over its Herbal Plus products. SENT: 270 words.
— RADIOSHACK-BANKRUPTCY — RadioShack creditor Salus says it won't improve its bid as it fights with another buyer for the electronics chain, hedge fund Standard General. SENT: 140 words. UPCOMING: May be updated after hearing.
— VOLVO-PLANT — Volvo Cars is planning to build a $500 million assembly plant in the U.S. SENT: 130 words.
— DUNKIN' DONUTS — Dunkin' Donuts is looking to transition to all cage-free eggs worldwide. SENT: 180 words.
— DROUGHT-WESTERN PIPELINES — A pipeline project intended to bring billions of gallons of water a year to a drought-stricken section of eastern New Mexico represents a lifeline to parched communities that are quickly running out of water. The lifeline, however, might not reach the region for more than a decade. By Susan Montoya Bryan. SENT: 1,030 words, photo.
— FRANCE-PLANE CRASH — German prosecutors say the co-pilot of the Germanwings passenger plane that crashed in the French Alps had received treatment for suicidal tendencies. SENT: 780 words, photos.
— THAILAND-AVIATION SAFETY — Thailand's transport minister says the country's junta leader may exercise extraordinary constitutional powers to expedite safety improvements in the aviation sector, which is facing international sanctions. SENT: 400 words.
— TURKEY-PLANE THREAT — Turkish Airlines says it diverted an Istanbul-to-Sao Paulo flight with 256 people aboard to Morocco after finding a note with the word "bomb" in the toilet. SENT: 120 words.
— JETBLUE-DELAYS — A computer outage that caused delays for thousands of JetBlue Airways passengers has been resolved, the company says. SENT: 180 words, photo.
TECHNOLOGY & MEDIA:
DIGITAL LIFE-REVIEW-HTC ONE PHONE
NEW YORK — HTC's flagship One phone has a lot going for it — except for strong sales. Here are some things to know before you buy. By Anick Jesdanun. SENT: 680 words, photo.
JAY Z-STREAMING SERVICE
NEW YORK — Jay Z announces plans for streaming service Tidal in New York City. By Mesfin Fekadu. UPCOMING: 400 words, photos by 7 p.m.
— AMAZON HOME SERVICES — Amazon.com is introducing a referral service to help people to get projects and chores done around their homes. SENT: 150 words. UPCOMING: Will be updated.
— STUBHUB-LAWSUIT — StubHub is suing Ticketmaster and the Golden State Warriors, alleging it unfairly required fans looking to resell tickets to use Ticketmaster's resale exchange. SENT: 150 words.
— PLAYSTATION-SPOTIFY MUSIC — Spotify is coming to the PlayStation, replacing Sony's own Music Unlimited service, as the company continues to expand the game console into an entertainment hub beyond video games. SENT: 310 words, photo.
— CHINA-US — U.S. Treasury Secretary Jacob Lew presses Chinese leaders to suspend proposed curbs on foreign security technology and says a Beijing-led regional bank should work in partnership with existing institutions, an American official says. SENT: 500 words, photos.
— TIM COOK-RELIGIOUS OBJECTIONS — Apple CEO Tim Cook says so-called "religious objection" legislation being introduced in a number of states is dangerous and bad for business. SENT: 300 words.
— AGENTS CHARGED-SILK ROAD — Two former federal agents have been charged with stealing digital currency during their investigation into an online black market that allowed users to buy and sell drugs and other illegal items. SENT: 250 words.
— GREECE BAILOUT — With its next financial deadline looming, Greece is struggling to convince its creditors it has a viable economic reform plan to unlock emergency funds and prevent the country from going bankrupt. SENT: 480 words, photos.
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If you believe that rising earnings are an essential component of a rising stock market, you may want to look away now; the outlook for the first-quarter isn't pretty. UPCOMING: Graphic expected by 6 p.m.
Fortune Brands to buy Norcraft
Fortune Brands Home & Security is buying cabinet maker Norcraft Companies for about $600 million. UPCOMING: Graphic expected by 6 p.m.