Money - The Salt Lake Tribune http://www.sltrib.com/money Stories from The Salt Lake Tribune &copy; 2014 The Associated Press, The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our privacy policy: http://www.sltrib.com/pages/privacy. en-us webmaster@sltrib.com (Webmaster) Inflation falls toward zero in 18 European countries http://www.sltrib.com/sltrib/money/58472406-79/inflation-percent-ecb-economy.html.csp London • Inflation across the 18 euro countries dipped further toward zero in September, piling pressure on the European Central Bank to pull the trigger on its biggest stimulus weapon — a large-scale program to create new money. Expectations that the bank will back such a program— similar to the one pursued by the U.S. Federal Reserve in recent years — mounted Tuesday after official figures showed consumer prices in the eurozone rose only 0.3 percent in the year to September. The decline from t... London • Inflation across the 18 euro countries dipped further toward zero in September, piling pressure on the European Central Bank to pull the trigger on its biggest stimulus weapon — a large-scale program to create new money. Expectations that the bank will back such a program— similar to the one pursued by the U.S. Federal Reserve in recent years — mounted Tuesday after official figures showed consumer prices in the eurozone rose only 0.3 percent in the year to September. The decline from t... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58472406@www.sltrib.com Tue, 30 Sep 2014 09:16:01 MDT Walgreen reports fourth quarter loss of $239M http://www.sltrib.com/sltrib/money/58472375-79/loss-walgreen-239-cents.html.csp Deerfield, Ill. • Walgreen Co. reported a loss of $239 million in its fiscal fourth quarter. On a per-share basis, the Illinois-based company said Tuesday it had a loss of 25 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 74 cents per share. The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 74 cents per share. The drugstore chain posted revenue of $19.06 billion in the perio... Deerfield, Ill. • Walgreen Co. reported a loss of $239 million in its fiscal fourth quarter. On a per-share basis, the Illinois-based company said Tuesday it had a loss of 25 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 74 cents per share. The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 74 cents per share. The drugstore chain posted revenue of $19.06 billion in the perio... 58472375@www.sltrib.com Tue, 30 Sep 2014 09:07:01 MDT E-commerce giant eBay to part ways with PayPal http://www.sltrib.com/sltrib/money/58472302-79/ebay-paypal-billion-ceo.html.csp San Jose, Calif. • The mobile payment service PayPal is splitting from eBay and will become a separate and publicly traded company next year. Almost a year after billionaire Carl Icahn opened a proxy fight and pressured eBay for a spinoff of PayPal, eBay President and CEO John Donahoe announced the split Tuesday. Donahoe will step down as CEO of eBay after overseeing the separation of the two companies and will not have a management roll in either of the two afterward. He may have a seat on the ... San Jose, Calif. • The mobile payment service PayPal is splitting from eBay and will become a separate and publicly traded company next year. Almost a year after billionaire Carl Icahn opened a proxy fight and pressured eBay for a spinoff of PayPal, eBay President and CEO John Donahoe announced the split Tuesday. Donahoe will step down as CEO of eBay after overseeing the separation of the two companies and will not have a management roll in either of the two afterward. He may have a seat on the ... 58472302@www.sltrib.com Tue, 30 Sep 2014 09:02:01 MDT Johnson & Johnson buying Alios for $1.75 billion http://www.sltrib.com/sltrib/money/58472325-79/johnson-alios-1.75-billion.csp New Brunswick, N.J. • Johnson & Johnson is buying the biopharmaceutical company Alios BioPharma Inc. for about $1.75 billion. Alios is a privately held company that focuses on developing therapies for viral diseases. The deal includes Alios’ portfolio of potential therapeutics for viral infections including compound AL-8176, an orally administered antiviral therapy currently in Phase 2 studies for the treatment of infants with respiratory syncytial virus. RSV typically causes only mild, cold-lik... New Brunswick, N.J. • Johnson & Johnson is buying the biopharmaceutical company Alios BioPharma Inc. for about $1.75 billion. Alios is a privately held company that focuses on developing therapies for viral diseases. The deal includes Alios’ portfolio of potential therapeutics for viral infections including compound AL-8176, an orally administered antiviral therapy currently in Phase 2 studies for the treatment of infants with respiratory syncytial virus. RSV typically causes only mild, cold-lik... 58472325@www.sltrib.com Tue, 30 Sep 2014 09:02:01 MDT Global stock markets mostly turn higher Tuesday http://www.sltrib.com/sltrib/money/58472235-79/percent-fell-rose-data.html.csp Bangkok • Global stocks turned higher on Tuesday, recovering from recent losses, though investors were monitoring protests in Hong Kong, a major financial center, as a potential risk to stability in Asian trading. KEEPING SCORE: France’s CAC-40 rose 1.2 percent to 4,411.67 and Germany’s Dax gained 0.5 percent to 9,471.03. Britain’s FTSE 100 edged down 0.1 percent to 6,639.65. Wall Street looked poised to recover some of Monday’s losses, with futures for the Dow Jones industrial average and Stand... Bangkok • Global stocks turned higher on Tuesday, recovering from recent losses, though investors were monitoring protests in Hong Kong, a major financial center, as a potential risk to stability in Asian trading. KEEPING SCORE: France’s CAC-40 rose 1.2 percent to 4,411.67 and Germany’s Dax gained 0.5 percent to 9,471.03. Britain’s FTSE 100 edged down 0.1 percent to 6,639.65. Wall Street looked poised to recover some of Monday’s losses, with futures for the Dow Jones industrial average and Stand... 58472235@www.sltrib.com Tue, 30 Sep 2014 08:37:01 MDT U.S. stocks edge lower in early trading Tuesday http://www.sltrib.com/sltrib/money/58472217-79/percent-500-ebay-fell.html.csp New York • The stock market fell for a second day running on Monday, keeping the Standard & Poor’s 500 index on course for its third monthly loss this year. Ford Motor sank after cutting its profit forecast. KEEPING SCORE: The Dow Jones industrial average was down 13 points, or 0.1 percent, to 17,059 as of 8:13 a.m. Mountain time Tuesday. The S&P 500 fell two points, or 0.1 percent, to 1,975. The Nasdaq composite sank nine points, or 0.2 percent, to 4,496. BREAKUP: EBay jumped 7 percent, the big... New York • The stock market fell for a second day running on Monday, keeping the Standard & Poor’s 500 index on course for its third monthly loss this year. Ford Motor sank after cutting its profit forecast. KEEPING SCORE: The Dow Jones industrial average was down 13 points, or 0.1 percent, to 17,059 as of 8:13 a.m. Mountain time Tuesday. The S&P 500 fell two points, or 0.1 percent, to 1,975. The Nasdaq composite sank nine points, or 0.2 percent, to 4,496. BREAKUP: EBay jumped 7 percent, the big... 58472217@www.sltrib.com Tue, 30 Sep 2014 08:33:02 MDT Bill Gates ranked as the richest American by Forbes http://www.sltrib.com/sltrib/money/58470243-79/billion-gates-net-worth.html.csp New York • Microsoft co-founder Bill Gates topped Forbes’ latest list of the 400 richest Americans for the 21st straight year. The list, released on Monday, was largely unchanged for 2014 and showed the rich getting richer. The combined wealth of those on the list rose 13 percent to $2.29 trillion, helped by a stronger U.S. stock market. Gates’ net worth totaled $81 billion, up $9 billion from 2013. Investor Warren Buffett, the head of Berkshire Hathaway Inc., remained in second place at $67 bil... New York • Microsoft co-founder Bill Gates topped Forbes’ latest list of the 400 richest Americans for the 21st straight year. The list, released on Monday, was largely unchanged for 2014 and showed the rich getting richer. The combined wealth of those on the list rose 13 percent to $2.29 trillion, helped by a stronger U.S. stock market. Gates’ net worth totaled $81 billion, up $9 billion from 2013. Investor Warren Buffett, the head of Berkshire Hathaway Inc., remained in second place at $67 bil... 58470243@www.sltrib.com Tue, 30 Sep 2014 07:22:03 MDT Microsoft to offer early look at next Windows http://www.sltrib.com/sltrib/money/58470293-79/windows-microsoft-company-software.html.csp San Francisco • Microsoft plans to offer a glimpse of its vision for Windows this week, as its new CEO seeks to redefine the company and recover from missteps with its flagship operating system. Although the new software won’t be formally released until next year, analysts already consider its success crucial for Microsoft and Satya Nadella, who has made mobile devices and Internet-based services priorities since becoming CEO in February. With its tablet-like touch controls, Windows 8 had been M... San Francisco • Microsoft plans to offer a glimpse of its vision for Windows this week, as its new CEO seeks to redefine the company and recover from missteps with its flagship operating system. Although the new software won’t be formally released until next year, analysts already consider its success crucial for Microsoft and Satya Nadella, who has made mobile devices and Internet-based services priorities since becoming CEO in February. With its tablet-like touch controls, Windows 8 had been M... 58470293@www.sltrib.com Mon, 29 Sep 2014 18:44:02 MDT Air traffic returning to normal after fire’s disruption http://www.sltrib.com/sltrib/money/58470300-79/flights-faa-fire-traffic.html.csp New York • Traffic at Chicago’s two busiest airports was slowly returning to more normal levels Monday, three days after a fire at a regional air traffic control center disrupted much of the nation’s air-travel system. The Federal Aviation Administration has temporarily assigned other controllers to oversee the airspace normally covered by the crippled suburban facility, but full service may not be restored for two weeks. A closer look at some key questions surrounding the many delays and cance... New York • Traffic at Chicago’s two busiest airports was slowly returning to more normal levels Monday, three days after a fire at a regional air traffic control center disrupted much of the nation’s air-travel system. The Federal Aviation Administration has temporarily assigned other controllers to oversee the airspace normally covered by the crippled suburban facility, but full service may not be restored for two weeks. A closer look at some key questions surrounding the many delays and cance... 58470300@www.sltrib.com Mon, 29 Sep 2014 18:29:01 MDT Football commands highest television ad prices http://www.sltrib.com/sltrib/money/58470213-79/advertising-television-age-football.html.csp New York • Pro football pays the bills in prime-time television. NBC’s “Sunday Night Football” charges $627,300 for a 30-second advertisement, more than any other program in prime-time broadcast television, according to a survey by Advertising Age. On its heels is CBS’ new Thursday night football telecast, being shown this fall for the first time, at $483,333. Television’s top-rated comedy, “The Big Bang Theory,” is the scripted show with the priciest ads, at $344,827, Advertising Age said. Othe... New York • Pro football pays the bills in prime-time television. NBC’s “Sunday Night Football” charges $627,300 for a 30-second advertisement, more than any other program in prime-time broadcast television, according to a survey by Advertising Age. On its heels is CBS’ new Thursday night football telecast, being shown this fall for the first time, at $483,333. Television’s top-rated comedy, “The Big Bang Theory,” is the scripted show with the priciest ads, at $344,827, Advertising Age said. Othe... 58470213@www.sltrib.com Mon, 29 Sep 2014 18:21:02 MDT U.S. consumer spending up 0.5 percent in August http://www.sltrib.com/sltrib/money/58470282-79/percent-spending-august-rate.html.csp Washington • Americans boosted spending by a healthy amount in August, offering welcome evidence that the economy is on solid footing heading into the final quarter of the year. Consumer spending rose 0.5 percent in August after showing no gain in July, the Commerce Department reported Monday. About half of the increase was driven by auto sales. It was the best result since spending also expanded 0.5 percent in June. Helped by strength in wages and salaries, income rose a modest 0.3 percent in A... Washington • Americans boosted spending by a healthy amount in August, offering welcome evidence that the economy is on solid footing heading into the final quarter of the year. Consumer spending rose 0.5 percent in August after showing no gain in July, the Commerce Department reported Monday. About half of the increase was driven by auto sales. It was the best result since spending also expanded 0.5 percent in June. Helped by strength in wages and salaries, income rose a modest 0.3 percent in A... 58470282@www.sltrib.com Mon, 29 Sep 2014 18:15:01 MDT Qantas puts world’s largest plane on longest route http://www.sltrib.com/sltrib/money/58470270-79/qantas-route-plane-airline.html.csp Fort Worth, Texas • Qantas is putting the world’s biggest passenger plane on the world’s longest airline route. A Qantas Airbus A380 touched down Monday at Dallas-Fort Worth International Airport about 15 hours after leaving Sydney, Australia, on the 8,578-mile journey. The double-deck, four-engine jet was greeted with a water-cannon salute, then taxied to a two-story gate that was configured just for the behemoth. The inaugural flight carried a full load of 484 passengers, according to a Qantas... Fort Worth, Texas • Qantas is putting the world’s biggest passenger plane on the world’s longest airline route. A Qantas Airbus A380 touched down Monday at Dallas-Fort Worth International Airport about 15 hours after leaving Sydney, Australia, on the 8,578-mile journey. The double-deck, four-engine jet was greeted with a water-cannon salute, then taxied to a two-story gate that was configured just for the behemoth. The inaugural flight carried a full load of 484 passengers, according to a Qantas... 58470270@www.sltrib.com Mon, 29 Sep 2014 18:11:01 MDT Humana dropping out as golf tournament sponsor http://www.sltrib.com/sltrib/money/58470253-79/humana-sponsor-tournament-pga.html.csp La Quinta, Calif. • Humana is dropping out as title sponsor of the PGA Tour’s former Bob Hope Classic after the January tournament at PGA West and La Quinta Country Club. The Louisville-based managed health care company became the title sponsor in 2012. “Humana’s business is changing rapidly,” Tom Noland, Humana’s senior vice president of corporate communications, said in a statement Monday. “As we continue to shift toward a direct-to-consumer focus, we have to align our marketing and sponsorshi... La Quinta, Calif. • Humana is dropping out as title sponsor of the PGA Tour’s former Bob Hope Classic after the January tournament at PGA West and La Quinta Country Club. The Louisville-based managed health care company became the title sponsor in 2012. “Humana’s business is changing rapidly,” Tom Noland, Humana’s senior vice president of corporate communications, said in a statement Monday. “As we continue to shift toward a direct-to-consumer focus, we have to align our marketing and sponsorshi... 58470253@www.sltrib.com Mon, 29 Sep 2014 18:07:02 MDT Auto parts maker to pay fine in price-fixing case http://www.sltrib.com/sltrib/money/58470229-79/fixing-auto-case-fine.html.csp Cleveland • The U.S. Justice Department says a Japanese auto parts manufacturer has agreed to pay a $26 million fine and to plead guilty to fixing prices and rigging bids for various parts sold to automakers in the U.S. The federal government says Toyoda Gosei Co. Ltd. was charged in U.S. District Court in Toledo on Monday with two counts of price fixing regarding sales of automotive hoses, air bags and steering wheels to Toyota Motor Corp. and to Fuji Heavy Industries Ltd., which makes Subarus.... Cleveland • The U.S. Justice Department says a Japanese auto parts manufacturer has agreed to pay a $26 million fine and to plead guilty to fixing prices and rigging bids for various parts sold to automakers in the U.S. The federal government says Toyoda Gosei Co. Ltd. was charged in U.S. District Court in Toledo on Monday with two counts of price fixing regarding sales of automotive hoses, air bags and steering wheels to Toyota Motor Corp. and to Fuji Heavy Industries Ltd., which makes Subarus.... 58470229@www.sltrib.com Mon, 29 Sep 2014 17:59:01 MDT Federal report: IRS bungles hunt for unpaid taxes http://www.sltrib.com/sltrib/money/58470201-79/irs-report-investigators-required.html.csp Washington • The IRS failed to take all required steps for collecting unpaid taxes from people it can’t locate in over half the cases that investigators studied, potentially costing the government a pile of lost revenue, according to a federal report released Monday. The study does not estimate exactly how much money the IRS might collect if its workers were conducting all the research they are supposed to perform to find the taxpayers. The investigators wrote that in 2012, the IRS declared $6.7... Washington • The IRS failed to take all required steps for collecting unpaid taxes from people it can’t locate in over half the cases that investigators studied, potentially costing the government a pile of lost revenue, according to a federal report released Monday. The study does not estimate exactly how much money the IRS might collect if its workers were conducting all the research they are supposed to perform to find the taxpayers. The investigators wrote that in 2012, the IRS declared $6.7... 58470201@www.sltrib.com Mon, 29 Sep 2014 17:51:02 MDT Judge holds Argentina in contempt over bond orders http://www.sltrib.com/sltrib/money/58470182-79/argentina-judge-bondholders-bonds.html.csp New York • A judge, calling civil contempt a rarity, ruled Monday that Argentina was in contempt of court for its open defiance of his orders requiring that U.S. hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South American nation’s bondholders are paid interest on their bonds. U.S. District Judge Thomas P. Griesa made the announcement after a lawyer for U.S. hedge funds led by billionaire hedge fund investor Paul Singer’s NML Capital Lt... New York • A judge, calling civil contempt a rarity, ruled Monday that Argentina was in contempt of court for its open defiance of his orders requiring that U.S. hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South American nation’s bondholders are paid interest on their bonds. U.S. District Judge Thomas P. Griesa made the announcement after a lawyer for U.S. hedge funds led by billionaire hedge fund investor Paul Singer’s NML Capital Lt... 58470182@www.sltrib.com Mon, 29 Sep 2014 17:47:01 MDT Wal-Mart: Morgan wasn’t wearing seatbelt in crash http://www.sltrib.com/sltrib/money/58470172-79/crash-morgan-mart-wal.html.csp Newark, N.J. • Actor-comedian Tracy Morgan and other people in a limousine struck from behind by a Wal-Mart truck on a highway in June are at least partly to blame for their injuries because they weren’t wearing seatbelts, the company said in a court filing Monday. The filing was made in federal court in response to a lawsuit Morgan filed in July over the accident, which killed his friend James McNair, who was accompanying the former “Saturday Night Live” and “30 Rock” star back from a show in D... Newark, N.J. • Actor-comedian Tracy Morgan and other people in a limousine struck from behind by a Wal-Mart truck on a highway in June are at least partly to blame for their injuries because they weren’t wearing seatbelts, the company said in a court filing Monday. The filing was made in federal court in response to a lawsuit Morgan filed in July over the accident, which killed his friend James McNair, who was accompanying the former “Saturday Night Live” and “30 Rock” star back from a show in D... 58470172@www.sltrib.com Mon, 29 Sep 2014 17:43:01 MDT Another card system hack at Supervalu, Albertsons http://www.sltrib.com/sltrib/money/58470161-79/stores-card-supervalu-data.html.csp New York • Card data of Supervalu and Albertsons shoppers may be at risk in another hack, the two supermarket companies said Monday. The companies said that in late August or early September, malicious software was installed on networks that process credit and debit card transactions at some of their stores. Albertsons said the malware may have captured data including account numbers, card expiration dates and the names of cardholders at stores in more than a dozen states. Supervalu said the mal... New York • Card data of Supervalu and Albertsons shoppers may be at risk in another hack, the two supermarket companies said Monday. The companies said that in late August or early September, malicious software was installed on networks that process credit and debit card transactions at some of their stores. Albertsons said the malware may have captured data including account numbers, card expiration dates and the names of cardholders at stores in more than a dozen states. Supervalu said the mal... 58470161@www.sltrib.com Mon, 29 Sep 2014 17:39:01 MDT Ford shares fall as company lowers Europe outlook http://www.sltrib.com/sltrib/money/58470149-79/ford-billion-company-expects.html.csp Dearborn, Mich. • Ford shares tumbled Monday after the automaker said it will fall short of its full-year profit goals. At a conference for investors, the Dearborn-based automaker said it expects a pretax profit of around $6 billion this year, down from the $7 billion to $8 billion it previously forecast. Chief Financial Officer Bob Shanks said record profits in North America aren’t enough to offset trouble in South America, where Ford expects to lose $1 billion this year, and Russia, where fall... Dearborn, Mich. • Ford shares tumbled Monday after the automaker said it will fall short of its full-year profit goals. At a conference for investors, the Dearborn-based automaker said it expects a pretax profit of around $6 billion this year, down from the $7 billion to $8 billion it previously forecast. Chief Financial Officer Bob Shanks said record profits in North America aren’t enough to offset trouble in South America, where Ford expects to lose $1 billion this year, and Russia, where fall... 58470149@www.sltrib.com Mon, 29 Sep 2014 17:36:02 MDT U.S. stocks head lower, following drops overseas http://www.sltrib.com/sltrib/money/58470119-79/percent-rose-stock-market.html.csp New York • Concerns over high stock prices and global politics continued to plague markets Monday as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial center, added to the host of political concerns on investors’ minds. It could have been worse. The Dow Jones industrial average sank 178 points in the opening minutes, a sudden drop of 1 percent, but then it climbed back. “You have a ton of risks that have br... New York • Concerns over high stock prices and global politics continued to plague markets Monday as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial center, added to the host of political concerns on investors’ minds. It could have been worse. The Dow Jones industrial average sank 178 points in the opening minutes, a sudden drop of 1 percent, but then it climbed back. “You have a ton of risks that have br... 58470119@www.sltrib.com Mon, 29 Sep 2014 17:32:02 MDT