Executives admit that TV isn’t everywhere yet
WASHINGTON (AP) — TV was supposed to be everywhere by now — watchable anytime, anywhere, on your smartphone or tablet. But four years into the industry’s effort, network executives readily admit: TV isn’t everywhere.
The promise of “TV Everywhere” has been a key strategy in the cable and satellite TV industry’s fight to retain customers in the face of challenges from online video providers such as Netflix.
With TV Everywhere, customers who pay for packages with hundreds of television channels are supposed to be able to watch them on mobile devices and computers as well for no extra charge. That perk is meant to make pay TV packages seem more worthwhile and keep customers from defecting.
More Americans quit jobs, a sign of confidence
WASHINGTON (AP) — More Americans are quitting their jobs, suggesting many are growing more confident in the job market.
The Labor Department said Tuesday that the number of people who quit their jobs in April jumped 7.2 per cent to 2.25 million. That’s just below February’s level, which was the highest in 4 1/2 years.
Overall hiring also picked up in April, though not as dramatically. Employers filled 4.4 million jobs in April, a 5 per cent increase from March. Hiring fell in March and April’s level was below February’s.
Agency: Opting for overdrafts means higher fees
WASHINGTON (AP) — A U.S. agency says consumers who opt for overdraft coverage on their checking accounts pay higher fees and are more likely to have their accounts closed than those who decline it.
A report by the Consumer Financial Protection Bureau released Tuesday says it’s hard for consumers to anticipate and avoid overdraft charges. It found that the cost for “opting in” for overdraft coverage varies widely from one bank to the next.
Customers of some banks paid average charges of $298 annually, while those at others paid $147.
Google snaps up Waze to add to mapping service
SAN FRANCISCO (AP) — Google is buying online mapping service Waze in a $1.03 billion deal that keeps a potentially valuable tool away from its rivals while allowing it to gain technology that could improve the accuracy and usefulness of its own popular navigation system.
The acquisition announced Tuesday ends several months of speculation as Waze flirted with potential buyers interested in its rapidly growing service. Waze blends elements of a social network into its maps to produce more precise directions and more reliable information about local traffic conditions.
Google Inc. is believed to have trumped two of its fiercest foes, Facebook Inc. and Apple Inc., in the bidding for Waze, which is based in Israel but also maintains a Palo Alto, Calif., office near all three of the Silicon Valley giants.
Senator says program goes deeper than believed
WASHINGTON (AP) — A leading Republican senator on Tuesday described controversial U.S. spy programs as looking far deeper into Americans’ phone records than the Obama administration has been willing to admit, fueling new privacy concerns as Congress sought to defend the surveillance systems.
Sen. Lindsey Graham, R-SC., says the U.S. intelligence surveillance of phone records allows analysts to monitor U.S. phone records for a pattern of calls, even if those numbers have no known connection to terrorism.
Graham says the National Security Agency then matches phone numbers against known terrorists. Graham helped draft the surveillance law that governs the surveillance program.
Turkish economy depends on political stability
LONDON (AP) — The escalation in the clashes between Turkey’s government and protesters could hurt an economy that has become a source of growth and stability in a region hit by recession and unrest.
The protests started 12 days ago as a demonstration against plans to bulldoze and redevelop a park in central Istanbul. They weren’t very different from the Occupy Wall Street protests in New York. But the authorities’ heavy-handed use of tear gas and water cannons fueled popular outrage among Turkey’s secular middle class.
The demonstrations have spilled over to other cities and grown in size in what has become a test of Prime Minister Recep Tayyip Erdogan’s authority and a rejection of what some see as his autocratic ways. In the latest clash on Tuesday, riot police overran demonstrators’ barricades in Istanbul’s Taksim Square.
Feds now back morning-after pills for all girls
NEW YORK (AP) — After setting off a storm of criticism from abortion rights groups upset that a Democratic president had sided with social conservatives, the Obama administration said it will comply with a judge’s order to allow girls of any age to buy emergency contraception without prescriptions.
But in doing so, at least one opponent of easy access to the contraception thinks the president is buckling to political pressure, rather than making the health of girls a priority.
The Justice Department notified U.S. District Judge Edward Korman on Monday that it will submit a plan for compliance. If he approves it, the department will drop its appeal of his April ruling.
Hepatitis A linked to frozen berries sickens 87
WASHINGTON (AP) — The Centers for Disease Control and Prevention says an outbreak of hepatitis A linked to a frozen berry mix sold at Costco has grown to 87 people with illnesses in eight states.
The CDC said Tuesday that illnesses have been reported in Arizona, California Colorado, Hawaii, Nevada, New Mexico, Utah and Washington.
Townsend Farms of Fairview, Ore., last week recalled its frozen Organic Antioxidant Blend, packaged under the Townsend Farms label at Costco and under the Harris Teeter brand at those stores. So far the illnesses have only been linked to the berries sold at Costco.
World air fleet to double in 20 years, Boeing says
PARIS (AP) — Boeing predicted that the number of commercial aircraft in operation globally will double in the next two decades, with the bulk of some 35,000 new planes going to Asia, an executive from the U.S. airplane maker said Tuesday.
Speaking ahead of the Bourget international air show in Paris, Randy Tinseth, vice-president of marketing for Boeing Co., said rising oil prices are forcing carriers to think harder about efficiency, and that means smaller planes that burn less fuel. It also means design changes, streamlined air traffic control and improved navigation to shave miles off each flight.
The demand for fuel efficiency has eaten away at orders for the wide-body long haul carriers that are major profit drivers for Boeing and Airbus, the world’s two biggest aircraft manufacturers. Boeing predicted that 24,670 of the 35,000 new airplanes to be delivered would be single-aisle craft, seating between 90 and 230 passengers. Just 760 were expected to be large wide-body jets, seating more than 400 passengers.
Yum says KFC’s sales decline in China is easing
NEW YORK (AP) — Yum Brands says a key sales figure for China dropped 19 per cent in May, as the parent company of KFC began to see signs of recovery from the double whammy of a bird flu scare and an earlier controversy over its chicken supply.
The drop is an improvement from the 29 per cent decline in April. The company said the latest figure reflects a 25 per cent decline at KFC and 12 per cent growth at Pizza Hut.
On Monday McDonald’s Corp. also blamed fears over bird flu for a decline in China sales for the month.
Yum Brands Inc. said that it expects sales at established restaurants to continue recovering over the course of the year and to turn positive in the fourth quarter. Although publicity around the bird flu continued to have a “significant, negative impact” in May, Yum noted that the impact of past cases of bird flu has been short-lived.
By The Associated Press(equals)
The Dow Jones industrial average dropped 116.57 points to 15,122.02. That’s a decline of 0.8 per cent. The Standard & Poor’s 500 index fell 16.68 points to close at 1,626.13, a loss of 1 per cent. The Nasdaq composite fell 36.82 points to 3,436.95, down 1 per cent.
Benchmark oil for July delivery fell 39 cents to close at $95.38 per barrel on the New York Mercantile Exchange. Crude fell to $94.04 earlier in the day.
Wholesale gasoline fell 3 cents to end at $2.82 a gallon. Heating oil fell 3 cents to finish at $2.86 per gallon. Natural gas dropped 8 cents to end at $3.72 per 1,000 cubic feet.