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 This material may not be published, broadcast, rewritten or redistributed.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) Tech review: Larger iPhones eliminate reason to switch http://www.sltrib.com/sltrib/money/58432869-79/iphones-phones-iphone-android.html.csp It’s easy to dismiss Apple’s new iPhones as merely catching up to Android. After all, phones running Google’s Android system long have had larger screens. In addition, many Android phones already have the wireless chips that iPhones are getting for making credit card payments without pulling out a card at retail stores. But the new iPhones are a big deal for one simple reason: Only Apple has the advantage of building both the hardware and the software, so iPhones are easier to use and more depen... It’s easy to dismiss Apple’s new iPhones as merely catching up to Android. After all, phones running Google’s Android system long have had larger screens. In addition, many Android phones already have the wireless chips that iPhones are getting for making credit card payments without pulling out a card at retail stores. But the new iPhones are a big deal for one simple reason: Only Apple has the advantage of building both the hardware and the software, so iPhones are easier to use and more depen... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58432869@www.sltrib.com Fri, 19 Sep 2014 10:35:02 MDT Alibaba shares surge in stock exchange debut http://www.sltrib.com/sltrib/money/58432838-79/stock-alibaba-company-debut.html.csp New York • Alibaba’s stock is rising 36 percent in the Chinese e-commerce powerhouse’s debut as a publicly traded company. The stock opened at $92.70 on the New York Stock Exchange on Friday morning. At that price the company would be worth $228.5 billion. CEO Jack Ma stood on the NYSE trading floor Friday as eight Alibaba customers, including an American cherry farmer and a Chinese Olympian, rang the opening bell from the floor of the New York Stock Exchange. On Thursday, Alibaba and the invest... New York • Alibaba’s stock is rising 36 percent in the Chinese e-commerce powerhouse’s debut as a publicly traded company. The stock opened at $92.70 on the New York Stock Exchange on Friday morning. At that price the company would be worth $228.5 billion. CEO Jack Ma stood on the NYSE trading floor Friday as eight Alibaba customers, including an American cherry farmer and a Chinese Olympian, rang the opening bell from the floor of the New York Stock Exchange. On Thursday, Alibaba and the invest... 58432838@www.sltrib.com Fri, 19 Sep 2014 10:23:02 MDT Gauge of U.S. economy up 0.2 percent in August http://www.sltrib.com/sltrib/money/58432805-79/percent-economy-august-index.html.csp Washington • A gauge designed to predict the economy’s future health rose in August but at a much slower pace than in July. The Conference Board said Friday that its index of leading indicators rose 0.2 percent in August, the seventh straight increase. But that was much slower than the revised 1.1 percent gain in July. “The leading indicators point to an economy that is gaining traction, but most likely won’t repeat its stellar second quarter performance in the second half,” said Conference Boar... Washington • A gauge designed to predict the economy’s future health rose in August but at a much slower pace than in July. The Conference Board said Friday that its index of leading indicators rose 0.2 percent in August, the seventh straight increase. But that was much slower than the revised 1.1 percent gain in July. “The leading indicators point to an economy that is gaining traction, but most likely won’t repeat its stellar second quarter performance in the second half,” said Conference Boar... 58432805@www.sltrib.com Fri, 19 Sep 2014 10:23:02 MDT Orders for Samsung Note 4 phone begin Friday http://www.sltrib.com/sltrib/money/58432735-79/note-samsung-screen-iphone.html.csp New York • Samsung says U.S. wireless carriers will start taking orders for its large-screen Galaxy Note 4 smartphone on the same day larger iPhones go on sale. The Note 4 will be available on Oct. 17. Orders will be taken beginning Friday. It has a screen measuring 5.7 inches diagonally, slightly larger than the 5.5 inches on Apple’s new iPhone 6 Plus. The regular iPhone 6 has a 4.7-inch screen. Unlike the iPhone, Samsung’s Note phones come with a stylus for note taking. The Note runs Google’s ... New York • Samsung says U.S. wireless carriers will start taking orders for its large-screen Galaxy Note 4 smartphone on the same day larger iPhones go on sale. The Note 4 will be available on Oct. 17. Orders will be taken beginning Friday. It has a screen measuring 5.7 inches diagonally, slightly larger than the 5.5 inches on Apple’s new iPhone 6 Plus. The regular iPhone 6 has a 4.7-inch screen. Unlike the iPhone, Samsung’s Note phones come with a stylus for note taking. The Note runs Google’s ... 58432735@www.sltrib.com Fri, 19 Sep 2014 10:13:02 MDT Facebook CEO wants more students to explore technology http://www.sltrib.com/sltrib/money/58432795-79/facebook-zuckerberg-students-ceo.html.csp Redwood City, Calif. • Facebook CEO Mark Zuckerberg wants to turn more American high school students into well-paid techies — and even hire some of them to work at his social-media company. Zuckerberg told students Thursday at Redwood City’s Sequoia High School that understanding technology and computers “is going to be really critical to having a lot of options and doing what you want.” The Facebook founder said the jobs of the future will be very different from today’s jobs — and young people ... Redwood City, Calif. • Facebook CEO Mark Zuckerberg wants to turn more American high school students into well-paid techies — and even hire some of them to work at his social-media company. Zuckerberg told students Thursday at Redwood City’s Sequoia High School that understanding technology and computers “is going to be really critical to having a lot of options and doing what you want.” The Facebook founder said the jobs of the future will be very different from today’s jobs — and young people ... 58432795@www.sltrib.com Fri, 19 Sep 2014 10:10:02 MDT Nepal clears Indian firm to build hydro power plant http://www.sltrib.com/sltrib/money/58432729-79/nepal-power-plant-hydro.html.csp Katmandu, Nepal • Nepal’s government has endorsed plans for Indian company GMR to build the Himalayan nation’s largest hydro power plant in a small step toward easing chronic power shortages and attracting new investment, officials said Friday. The $1.15 billion Upper Karnali Hydro power plant would be the biggest private foreign investment in Nepal, putting India ahead of northern neighbor China which has long shown interest in developing Nepal’s power industry. Govinda Pokhrel of Nepal’s natio... Katmandu, Nepal • Nepal’s government has endorsed plans for Indian company GMR to build the Himalayan nation’s largest hydro power plant in a small step toward easing chronic power shortages and attracting new investment, officials said Friday. The $1.15 billion Upper Karnali Hydro power plant would be the biggest private foreign investment in Nepal, putting India ahead of northern neighbor China which has long shown interest in developing Nepal’s power industry. Govinda Pokhrel of Nepal’s natio... 58432729@www.sltrib.com Fri, 19 Sep 2014 10:02:02 MDT Utah August job numbers up over last year http://www.sltrib.com/sltrib/money/58432685-79/utah-rate-august-job.html.csp Even if the jobless rate stayed the same, Utah’s employment report for August showed that it was another good month. The state’s economy supported 45,900 more jobs last month than it did in August 2013, a 3.5 percent gain. All 10 private sector groups added positions, raising Utah’s overall total to 1,332,900, the Utah Department of Workforce Services reported Friday. And while the unemployment rate remained 3.6 percent, with about 51,100 Utahns out-of-work but actively seeking jobs, the state’s... Even if the jobless rate stayed the same, Utah’s employment report for August showed that it was another good month. The state’s economy supported 45,900 more jobs last month than it did in August 2013, a 3.5 percent gain. All 10 private sector groups added positions, raising Utah’s overall total to 1,332,900, the Utah Department of Workforce Services reported Friday. And while the unemployment rate remained 3.6 percent, with about 51,100 Utahns out-of-work but actively seeking jobs, the state’s... 58432685@www.sltrib.com Fri, 19 Sep 2014 10:00:13 MDT China fines drug company $492M, jails managers for bribery http://www.sltrib.com/sltrib/money/58432635-79/492-court-doctors-drug.html.csp Beijing • A court fined British drug maker GlaxoSmithKline $492 million and sentenced its British former country manager and others to prison on Friday for bribing doctors and hospitals to use its products, a state news agency reported. The fine was the biggest ever imposed by a Chinese court, the Xinhua News Agency said. The case, which was first publicized in mid-2013, highlighted the widespread use of payments to doctors and hospitals by sellers of drugs and medical equipment in a poorly fund... Beijing • A court fined British drug maker GlaxoSmithKline $492 million and sentenced its British former country manager and others to prison on Friday for bribing doctors and hospitals to use its products, a state news agency reported. The fine was the biggest ever imposed by a Chinese court, the Xinhua News Agency said. The case, which was first publicized in mid-2013, highlighted the widespread use of payments to doctors and hospitals by sellers of drugs and medical equipment in a poorly fund... 58432635@www.sltrib.com Fri, 19 Sep 2014 09:30:02 MDT Investors breathe sigh of relief at Scottish vote http://www.sltrib.com/sltrib/money/58432624-79/scotland-percent-bank-pound.html.csp London • Scotland’s decision to reject independence from the United Kingdom shored up British stocks on Friday but worries over future constitutional changes kept a lid on the relief rally. With all 32 Scottish councils having declared, the No campaign won 55.3 percent of the votes cast in Thursday’s referendum against 44.7 percent who backed independence. The 10-point or so victory margin was wider than expected — most opinion polls were predicting a narrower 4-point victory for proponents of t... London • Scotland’s decision to reject independence from the United Kingdom shored up British stocks on Friday but worries over future constitutional changes kept a lid on the relief rally. With all 32 Scottish councils having declared, the No campaign won 55.3 percent of the votes cast in Thursday’s referendum against 44.7 percent who backed independence. The 10-point or so victory margin was wider than expected — most opinion polls were predicting a narrower 4-point victory for proponents of t... 58432624@www.sltrib.com Fri, 19 Sep 2014 09:23:01 MDT Spain’s Telefonica buys Brazilian operator GVT http://www.sltrib.com/sltrib/money/58432619-79/telefonica-gvt-brazilian-deal.html.csp Madrid • Spanish telecoms company Telefonica says it has reached a deal to buy Brazilian operator GVT from French media conglomerate Vivendi. Telefonica says it will pay $6 billion in cash as well as 12 percent of the shares in its Brazilian unit, Telefonica Brasil, into which GVT will be integrated. It says the deal will create the biggest operator of mobile and broadband networks in Brazil, Latin America’s largest market. Telefonica expects to make savings worth 4.7 billion euros from the inte... Madrid • Spanish telecoms company Telefonica says it has reached a deal to buy Brazilian operator GVT from French media conglomerate Vivendi. Telefonica says it will pay $6 billion in cash as well as 12 percent of the shares in its Brazilian unit, Telefonica Brasil, into which GVT will be integrated. It says the deal will create the biggest operator of mobile and broadband networks in Brazil, Latin America’s largest market. Telefonica expects to make savings worth 4.7 billion euros from the inte... 58432619@www.sltrib.com Fri, 19 Sep 2014 09:19:01 MDT R.J. Reynolds Tobacco Co. names new president http://www.sltrib.com/sltrib/money/58432601-79/reynolds-crew-inc-president.html.csp Winston-Salem, N.C. • Camel and Pall Mall cigarette maker R.J. Reynolds Tobacco Co. is tapping the head of PepsiCo North America’s nutrition division as its new president and chief commercial officer. The nation’s second-biggest cigarette company said Friday that Debra Crew will replace Andrew Gilchrist on Oct. 1, when he will become executive vice president of parent company Reynolds American Inc. Reynolds American CEO Susan Cameron says Crew’s experience working for some of America’s best-know... Winston-Salem, N.C. • Camel and Pall Mall cigarette maker R.J. Reynolds Tobacco Co. is tapping the head of PepsiCo North America’s nutrition division as its new president and chief commercial officer. The nation’s second-biggest cigarette company said Friday that Debra Crew will replace Andrew Gilchrist on Oct. 1, when he will become executive vice president of parent company Reynolds American Inc. Reynolds American CEO Susan Cameron says Crew’s experience working for some of America’s best-know... 58432601@www.sltrib.com Fri, 19 Sep 2014 09:16:01 MDT Russian investigators deny billionaire’s release http://www.sltrib.com/sltrib/money/58432585-79/arrest-russian-yevtushenkov-billionaire.html.csp Moscow • A Russian billionaire’s company has claimed he has been freed from house arrest, but its statement was immediately rejected by the nation’s top criminal investigation agency. Russia’s Investigative Committee said Friday that Vladimir Yevtushenkov has remained under house arrest, dismissing the claim of his release issued by his Sistema holding company. Tuesday’s arrest by the nation’s top criminal investigation agency of 65-year old Yevtushenkov on money laundering charges has sent shoc... Moscow • A Russian billionaire’s company has claimed he has been freed from house arrest, but its statement was immediately rejected by the nation’s top criminal investigation agency. Russia’s Investigative Committee said Friday that Vladimir Yevtushenkov has remained under house arrest, dismissing the claim of his release issued by his Sistema holding company. Tuesday’s arrest by the nation’s top criminal investigation agency of 65-year old Yevtushenkov on money laundering charges has sent shoc... 58432585@www.sltrib.com Fri, 19 Sep 2014 09:12:02 MDT The Kuro taste: Peppery tang and hint of squid ink http://www.sltrib.com/sltrib/money/58432562-79/black-burger-kuro-taste.html.csp Tokyo • The first Kuro, or black, burger had a black bun and sauce. Last year’s edition, the Kuro Ninja, added a slice of (non-black) bacon to the signature black components. Now Burger King Japan is going black on black. The fast-food chain added black cheese and darkened the other ingredients in the special burger duo added to menus Friday. Marketing Manager Kana Ienega said Burger King Japan wants people to try the burger and find it tasty even though it may look unappetizing at first. ——— WH... Tokyo • The first Kuro, or black, burger had a black bun and sauce. Last year’s edition, the Kuro Ninja, added a slice of (non-black) bacon to the signature black components. Now Burger King Japan is going black on black. The fast-food chain added black cheese and darkened the other ingredients in the special burger duo added to menus Friday. Marketing Manager Kana Ienega said Burger King Japan wants people to try the burger and find it tasty even though it may look unappetizing at first. ——— WH... 58432562@www.sltrib.com Fri, 19 Sep 2014 09:12:02 MDT Pound, stocks rise as Scotland votes to stay in UK http://www.sltrib.com/sltrib/money/58432491-79/percent-scotland-markets-stocks.html.csp Hong Kong • The British pound jumped and world stocks rose Friday as Scotland voted to stay part of the United Kingdom, avoiding a messy breakup that could have roiled financial markets. Japanese shares surged to their highest since 2007 as the yen extended losses against the dollar. KEEPING SCORE: Britain’s FTSE 100 advanced 0.7 percent to 6,868.63 and France’s CAC 40 rose 0.5 percent to 4,485.88. Germany’s DAX added 0.8 percent to 9,881.94. U.S stocks were set to open higher, with Dow futures ... Hong Kong • The British pound jumped and world stocks rose Friday as Scotland voted to stay part of the United Kingdom, avoiding a messy breakup that could have roiled financial markets. Japanese shares surged to their highest since 2007 as the yen extended losses against the dollar. KEEPING SCORE: Britain’s FTSE 100 advanced 0.7 percent to 6,868.63 and France’s CAC 40 rose 0.5 percent to 4,485.88. Germany’s DAX added 0.8 percent to 9,881.94. U.S stocks were set to open higher, with Dow futures ... 58432491@www.sltrib.com Fri, 19 Sep 2014 08:46:01 MDT U.S. stocks climb higher in early trading Friday http://www.sltrib.com/sltrib/money/58432467-79/percent-trading-index-market.html.csp New York • Major market indexes are heading higher Friday as the Chinese e-commerce company Alibaba prepares its stock-market debut. The Standard & Poor’s 500 index pushed above the record level reached the day before. KEEPING SCORE: As of 7:55 a.m. Mountain, the Dow Jones industrial average was up 74 points, or 0.4 percent, to 17,340. The S&P 500 index gained seven points, or 0.4 percent, to 2,019. The Nasdaq composite picked up 13 points, or 0.3 percent, to 4,606. ALIBABA IPO: Alibaba is set t... New York • Major market indexes are heading higher Friday as the Chinese e-commerce company Alibaba prepares its stock-market debut. The Standard & Poor’s 500 index pushed above the record level reached the day before. KEEPING SCORE: As of 7:55 a.m. Mountain, the Dow Jones industrial average was up 74 points, or 0.4 percent, to 17,340. The S&P 500 index gained seven points, or 0.4 percent, to 2,019. The Nasdaq composite picked up 13 points, or 0.3 percent, to 4,606. ALIBABA IPO: Alibaba is set t... 58432467@www.sltrib.com Fri, 19 Sep 2014 08:43:02 MDT Drag queens dress down Facebook over names http://www.sltrib.com/sltrib/money/58428623-79/facebook-drag-names-queens.html.csp San Francisco • Drag queens in this cosmopolitan city are sparring with Facebook over its policy requiring people to use their real names, rather than drag names such as Pollo Del Mar and Heklina. But the world’s biggest social network is not budging from its rules. In recent weeks, Facebook has been deleting the profiles of self-described drag queens and other performers who use stage names because they did not comply with the social networking site’s requirement that users go by their “real na... San Francisco • Drag queens in this cosmopolitan city are sparring with Facebook over its policy requiring people to use their real names, rather than drag names such as Pollo Del Mar and Heklina. But the world’s biggest social network is not budging from its rules. In recent weeks, Facebook has been deleting the profiles of self-described drag queens and other performers who use stage names because they did not comply with the social networking site’s requirement that users go by their “real na... 58428623@www.sltrib.com Thu, 18 Sep 2014 16:17:02 MDT Brighter economy driving up holiday hiring plans http://www.sltrib.com/sltrib/money/58428727-79/holiday-percent-workers-hiring.html.csp New York • UPS will hire up to 95,000. Kohl’s plans to take on 67,000 and FedEx 50,000. Wal-Mart will add 60,000. One after the other, a flurry of major U.S. retail and transportation companies announced sharp increases this week in the number of temporary workers they plan to hire for the holiday season. Collectively, such hiring could reach its highest point this year for stores since 1999, when the economy was roaring and the Great Recession was still eight years away. Credit the combination ... New York • UPS will hire up to 95,000. Kohl’s plans to take on 67,000 and FedEx 50,000. Wal-Mart will add 60,000. One after the other, a flurry of major U.S. retail and transportation companies announced sharp increases this week in the number of temporary workers they plan to hire for the holiday season. Collectively, such hiring could reach its highest point this year for stores since 1999, when the economy was roaring and the Great Recession was still eight years away. Credit the combination ... 58428727@www.sltrib.com Thu, 18 Sep 2014 15:23:13 MDT Chevron meets new, voluntary shale drilling rules http://www.sltrib.com/sltrib/money/58429610-79/chevron-shale-process-environmental.html.csp Pittsburgh • Chevron has become the first energy company to meet a new set of voluntary shale gas drilling standards that aim to go beyond existing state laws in Pennsylvania, Ohio and West Virginia, the Pittsburgh-based Center for Sustainable Shale announced Thursday. The center is a partnership between major energy companies, environmental groups and charitable foundations. Its certification process consisted of an independent review of Chevron documents and 22 of its production sites in the t... Pittsburgh • Chevron has become the first energy company to meet a new set of voluntary shale gas drilling standards that aim to go beyond existing state laws in Pennsylvania, Ohio and West Virginia, the Pittsburgh-based Center for Sustainable Shale announced Thursday. The center is a partnership between major energy companies, environmental groups and charitable foundations. Its certification process consisted of an independent review of Chevron documents and 22 of its production sites in the t... 58429610@www.sltrib.com Thu, 18 Sep 2014 13:35:02 MDT Average U.S. 30-year mortgage rate at 4.23 percent http://www.sltrib.com/sltrib/money/58428766-79/percent-mortgage-average-week.html.csp Washington • Average long-term U.S. mortgage rates surged this week, marking their largest one-week gain this year. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan jumped to 4.23 percent from 4.12 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, rose to 3.37 percent from 3.26 percent. At 4.23 percent, the rate on a 30-year mortgage is at its highest level since the week ended May 1, though it is still at ... Washington • Average long-term U.S. mortgage rates surged this week, marking their largest one-week gain this year. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan jumped to 4.23 percent from 4.12 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, rose to 3.37 percent from 3.26 percent. At 4.23 percent, the rate on a 30-year mortgage is at its highest level since the week ended May 1, though it is still at ... 58428766@www.sltrib.com Thu, 18 Sep 2014 10:04:01 MDT Alibaba’s plan: Today, China. Tomorrow, the world. http://www.sltrib.com/sltrib/money/58428608-79/alibaba-company-china-percent.html.csp New York • Amazon and eBay should watch their backs. As Chinese e-commerce powerhouse Alibaba readies what could be the biggest initial public offering ever on the New York Stock Exchange, it is quietly hinting at plans to expand into the U.S. The company controls nearly 80 percent of all e-commerce in China, and founder and chairman Jack Ma has ambitions that go beyond the country’s borders. Earlier this week, at a Hong Kong stop on Alibaba’s global tour to meet with potential investors, Ma sur... New York • Amazon and eBay should watch their backs. As Chinese e-commerce powerhouse Alibaba readies what could be the biggest initial public offering ever on the New York Stock Exchange, it is quietly hinting at plans to expand into the U.S. The company controls nearly 80 percent of all e-commerce in China, and founder and chairman Jack Ma has ambitions that go beyond the country’s borders. Earlier this week, at a Hong Kong stop on Alibaba’s global tour to meet with potential investors, Ma sur... 58428608@www.sltrib.com Thu, 18 Sep 2014 09:17:02 MDT