http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/german_group_claims_iphone_fingerprint_hack <p>BERLIN — The fingerprint-based security system used to unlock Apple's latest iPhone can be bypassed using a household printer and some wood glue, a German hacking group has claimed.</p><p>A spokesman for the Chaos Computer Club said the group managed to fool the biometric sensor in the iPhone 5S over the weekend by creating an artificial copy of a genuine fingerprint.</p><p>"It was surprisingly easy," Dirk Engling told The Associated Press in a telephone interview Monday, a day after the group announced the exploit on its website.</p> Technology News Mon, 23 Sep 2013 12:41:15 -0400 Associated Press 1063314581 http://bostonherald.com/business/business_markets/2013/09/microsoft_unveils_new_surface_at_nyc_event <p>NEW YORK — Microsoft introduced new Surface tablets, including a professional model that allows people to use it more like a laptop or a desktop computer.</p><p>The Redmond, Wash. company is trying to boost its tablet business as sales of traditional desktop and laptop computers decline.</p><p>The Surface Pro 2, unveiled at an event in New York, is targeted at professionals who want the full power of a laptop in a tablet-style device. The kickstand built into the device is redesigned to make it easier to use on laps. In the past, it worked best on a flat surface such as a table.</p> Business & Markets Mon, 23 Sep 2013 12:39:41 -0400 Associated Press 1063314721 http://bostonherald.com/business/automotive/2013/09/moodys_restores_gm_debt_to_investment_grade <p>DETROIT — A key ratings agency has restored General Motors' debt to investment grade status, eight years after the company lost the rating as it spiraled toward bankruptcy protection.</p><p>The upgrade came on Monday morning, shortly after GM announced plans to buy back high-interest preferred stock from a union retiree health care trust fund for $3.2 billion.</p> Automotive Mon, 23 Sep 2013 12:30:40 -0400 Associated Press 1063314411 http://bostonherald.com/business/business_markets/2013/09/ecbs_draghi_hints_at_another_round_of_cheap_loans <p>BRUSSELS — European Central Bank President Mario Draghi said Monday that another round of cheap loans could be provided to banks if needed to keep borrowing rates low and support the recovery.</p><p>Draghi told the European Parliament in Brussels the 17-nation eurozone's economic revival still "needs to be firmly established."</p><p>To help, the ECB is ready not only to keep its benchmark interest rate low for "an extended period of time" but also to offer a new round of so-called LTRO loans to banks "if needed," Draghi said.</p> Business & Markets Mon, 23 Sep 2013 12:27:50 -0400 Associated Press 1063314691 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — The manufacturer of steam generators at California's shuttered San Onofre nuclear power plant and the utility that runs the facility will be cited by federal regulators for a flawed design.</p><p>Southern California Edison said it was told Friday by the Nuclear Regulatory Commission to expect a citation for failing to make sure computer modeling and analysis were adequate for the design of the steam generators.</p><p>The commission also plans to issue a notice of nonconformance against the manufacturer of the steam generators, Mitsubishi Heavy Industries.</p> Technology News Mon, 23 Sep 2013 12:25:20 -0400 Associated Press 1063314626 http://bostonherald.com/business/technology/technology_news/2013/09/longer_delay_for_space_station_delivery_mission <p>CAPE CANAVERAL, Fla. — A new commercial spaceship will wait all week before aiming again for the International Space Station.</p><p>Orbital Sciences Corp.'s Cygnus capsule was supposed to arrive Sunday, four days after its launch. But the rendezvous was aborted because of a discrepancy in navigation data between the two vessels.</p> Technology News Mon, 23 Sep 2013 12:08:27 -0400 Associated Press 1063314701 http://bostonherald.com/business/technology/technology_news/2013/09/apple_says_it_has_sold_9m_new_iphones_since_friday <p>NEW YORK — Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply.</p><p>Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.</p><p>The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.</p><p>Wall Street hadn't been enthusiastic about the new models, which were unveiled earlier this month.</p> Technology News Mon, 23 Sep 2013 12:03:54 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/american_us_airways_extend_merger_deadline <p>FORT WORTH, Texas — US Airways and American Airlines are extending their merger deadline by a month to give themselves time for an antitrust trial.</p><p>That trial is scheduled to begin Nov. 25. Their original agreement allowed either side to call off the merger on Dec. 17, but the trial might not be done by then. The new agreement extends that period until Jan. 18, or later if the court rules in favor of the airlines.</p> Business & Markets Mon, 23 Sep 2013 12:00:19 -0400 Associated Press 1063314391 http://bostonherald.com/business/business_markets/2013/09/yokohama_tire_breaks_ground_for_miss_facility <p>WEST POINT, Miss. — Yokohama Tire Corporation officials and state leaders gathered Monday for ceremonial ground breaking for a manufacturing facility that is expected to create hundreds of jobs.</p><p>Gov. Phil Bryant, company executives and others gathered for the ground breaking ceremony Monday in West Point, where the company will manufacture commercial truck tires.</p><p>West Point is a town of about 11,000 people northeast of Starkville.</p> Business & Markets Mon, 23 Sep 2013 11:34:52 -0400 Associated Press 1063314726 http://bostonherald.com/business/automotive/2013/09/mass_gas_prices_drop_a_nickel <p>BOSTON — Gasoline prices in Massachusetts continue to fall, down another nickel in the past week.</p><p>AAA Southern New England reports Monday that the average price of a gallon of self-serve, regular has dropped to $3.53 per gallon.</p><p>Even though prices are 9 cents per gallon lower than a month ago, and 30 cents per gallon lower than at the same time last year, Bay State prices remains 6 cents above the national average.</p><p>AAA found self-serve, regular selling as low as $3.41 per gallon and as high as $3.75.</p> Automotive Mon, 23 Sep 2013 11:33:00 -0400 Associated Press 1063314831 http://bostonherald.com/business/business_markets/2013/09/eurozone_recovery_seen_picking_up_pace <p>LONDON — Further evidence emerged Monday that the economic recovery across the 17 European Union countries that use the euro is picking up and that unemployment may be peaking.</p><p>The composite purchasing managers' index — a gauge of business activity across the manufacturing and services sectors published by financial information company Markit — rose for the sixth month running to a 27-month high of 52.1 points in September from 51.5 in August.</p> Business & Markets Mon, 23 Sep 2013 11:11:58 -0400 Associated Press 1063314116 http://bostonherald.com/business/business_markets/2013/09/popular_bathroom_wipes_blamed_for_sewer_clogs <p>BEMUS POINT, N.Y. — Increasingly popular bathroom wipes — pre-moistened towelettes that are often advertised as flushable — are being blamed for creating clogs and backups in sewer systems around the nation.</p><p>Wastewater authorities say wipes may go down the toilet, but even many labeled flushable aren't breaking down as they course through the sewer system. That's costing some municipalities millions of dollars to dispatch crews to unclog pipes and pumps and to replace and upgrade machinery.</p> Business & Markets Mon, 23 Sep 2013 10:55:00 -0400 Associated Press 1063313781 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 10:39:55 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/epa_to_effectively_shut_down_without_budget_deal <p>WASHINGTON — The head of the Environmental Protection Agency says the agency will "effectively shut down" unless Congress approves stopgap funding by Oct. 1.</p><p>EPA Administrator Gina McCarthy says the agency won't be able to pay employees. She says only a core group of people will remain on duty in case the EPA has to respond to a "significant emergency." The vast majority of employees will stay home.</p> Business & Markets Mon, 23 Sep 2013 10:38:28 -0400 Associated Press 1063314631 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear, administration officials announced Monday.</p> Business & Markets Mon, 23 Sep 2013 10:15:09 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/un_climate_experts_stress_solidity_of_new_report <p>STOCKHOLM — Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for a final review.</p><p>The landmark report by the Intergovernmental Panel on Climate Change is expected to state with more confidence than its previous four assessments that global warming is mostly man-made.</p> Business & Markets Mon, 23 Sep 2013 09:44:36 -0400 Associated Press 1063314281 http://bostonherald.com/business/business_markets/2013/09/oil_falls_toward_104_a_barrel_as_syria_risk_fades <p>The price of oil slipped closer to $104 a barrel Monday despite positive economic news out of China and Europe, as the risk premium associated with the Syrian crisis diminished.</p><p>By early afternoon in Europe, benchmark oil for November delivery was down 34 cents to $104.41 in electronic trading on the New York Mercantile Exchange. On Friday, the now expired contract for October delivery dropped $1.72 to close at $104.67.</p> Business & Markets Mon, 23 Sep 2013 09:30:13 -0400 Associated Press 1063314476 http://bostonherald.com/business/business_markets/2013/09/un_agency_says_drop_in_child_labor_not_fast_enough <p>GENEVA — The number of children doing hazardous work dropped by half to 85 million from 2000 to 2012, but the rate of progress isn't fast enough to meet the goal of having no child laborers by 2016, the U.N. labor agency reported Monday.</p><p>The International Labor Organization's quadrennial review of child labor statistics highlighted the big drop. In 2000, 171 million children between five and 17 were doing work that directly endangered their health, safety and moral development, according to the agency.</p> Business & Markets Mon, 23 Sep 2013 09:16:30 -0400 Associated Press 1063314151 http://bostonherald.com/business/business_markets/2013/09/as_bad_debts_clog_vietnamese_banks_investors_wait <p>HANOI, Vietnam — The soured loans clogging up Vietnam's banks and the rows of abandoned houses gathering mold in the Hanoi rain are signs of a sick economy. But to foreign investors they represent an opportunity for sparkling returns — if only the Communist government makes them welcome.</p><p>Neil Hagan, an American debt recovery specialist who wants to start a company servicing bad loans in Vietnam on behalf of foreign buyers, says he gets weekly calls from hedge funds based in Singapore and Hong Kong asking whether now is the time to scoop up some of the debt.</p> Business & Markets Mon, 23 Sep 2013 09:15:47 -0400 Associated Press 1063314061 http://bostonherald.com/business/business_markets/2013/09/us_stocks_down_at_midday <p>NEW YORK — Investor worries about a budget fight in Washington pushed U.S. stocks lower on Monday, overshadowing the prospect of more economic stimulus from the Federal Reserve.</p><p>The Dow Jones industrial average was down in midday trading, extending two straight days of losses.</p><p>The Dow surged 147 points to an all-time high on Sept. 18 after the Fed decided to keep its huge economic stimulus program intact. That rally has since been erased by anxiety over a budget and debt fight in Washington.</p> Business & Markets Mon, 23 Sep 2013 08:24:00 -0400 Associated Press 1063314361
http://bostonherald.com/feed/4 en http://bostonherald.com/business/technology/technology_news/2013/09/german_group_claims_iphone_fingerprint_hack <p>BERLIN — The fingerprint-based security system used to unlock Apple's latest iPhone can be bypassed using a household printer and some wood glue, a German hacking group has claimed.</p><p>A spokesman for the Chaos Computer Club said the group managed to fool the biometric sensor in the iPhone 5S over the weekend by creating an artificial copy of a genuine fingerprint.</p><p>"It was surprisingly easy," Dirk Engling told The Associated Press in a telephone interview Monday, a day after the group announced the exploit on its website.</p> Technology News Mon, 23 Sep 2013 12:41:15 -0400 Associated Press 1063314581 http://bostonherald.com/business/business_markets/2013/09/microsoft_unveils_new_surface_at_nyc_event <p>NEW YORK — Microsoft introduced new Surface tablets, including a professional model that allows people to use it more like a laptop or a desktop computer.</p><p>The Redmond, Wash. company is trying to boost its tablet business as sales of traditional desktop and laptop computers decline.</p><p>The Surface Pro 2, unveiled at an event in New York, is targeted at professionals who want the full power of a laptop in a tablet-style device. The kickstand built into the device is redesigned to make it easier to use on laps. In the past, it worked best on a flat surface such as a table.</p> Business & Markets Mon, 23 Sep 2013 12:39:41 -0400 Associated Press 1063314721 http://bostonherald.com/business/automotive/2013/09/moodys_restores_gm_debt_to_investment_grade <p>DETROIT — A key ratings agency has restored General Motors' debt to investment grade status, eight years after the company lost the rating as it spiraled toward bankruptcy protection.</p><p>The upgrade came on Monday morning, shortly after GM announced plans to buy back high-interest preferred stock from a union retiree health care trust fund for $3.2 billion.</p> Automotive Mon, 23 Sep 2013 12:30:40 -0400 Associated Press 1063314411 http://bostonherald.com/business/business_markets/2013/09/ecbs_draghi_hints_at_another_round_of_cheap_loans <p>BRUSSELS — European Central Bank President Mario Draghi said Monday that another round of cheap loans could be provided to banks if needed to keep borrowing rates low and support the recovery.</p><p>Draghi told the European Parliament in Brussels the 17-nation eurozone's economic revival still "needs to be firmly established."</p><p>To help, the ECB is ready not only to keep its benchmark interest rate low for "an extended period of time" but also to offer a new round of so-called LTRO loans to banks "if needed," Draghi said.</p> Business & Markets Mon, 23 Sep 2013 12:27:50 -0400 Associated Press 1063314691 http://bostonherald.com/business/technology/technology_news/2013/09/citations_pending_for_calif_nuclear_plant_flaw <p>LOS ANGELES — The manufacturer of steam generators at California's shuttered San Onofre nuclear power plant and the utility that runs the facility will be cited by federal regulators for a flawed design.</p><p>Southern California Edison said it was told Friday by the Nuclear Regulatory Commission to expect a citation for failing to make sure computer modeling and analysis were adequate for the design of the steam generators.</p><p>The commission also plans to issue a notice of nonconformance against the manufacturer of the steam generators, Mitsubishi Heavy Industries.</p> Technology News Mon, 23 Sep 2013 12:25:20 -0400 Associated Press 1063314626 http://bostonherald.com/business/technology/technology_news/2013/09/longer_delay_for_space_station_delivery_mission <p>CAPE CANAVERAL, Fla. — A new commercial spaceship will wait all week before aiming again for the International Space Station.</p><p>Orbital Sciences Corp.'s Cygnus capsule was supposed to arrive Sunday, four days after its launch. But the rendezvous was aborted because of a discrepancy in navigation data between the two vessels.</p> Technology News Mon, 23 Sep 2013 12:08:27 -0400 Associated Press 1063314701 http://bostonherald.com/business/technology/technology_news/2013/09/apple_says_it_has_sold_9m_new_iphones_since_friday <p>NEW YORK — Apple says shoppers snapped up 9 million of its newest iPhones since the devices were launched Friday, and that demand is exceeding supply.</p><p>Apple says the two new models gave it its strongest iPhone launch ever. The company began selling the low-cost 5C and top-of-the-line 5S on Friday.</p><p>The company says demand for iPhone 5s has exceeded the initial supply, and many online orders are scheduled to be shipped in the coming weeks.</p><p>Wall Street hadn't been enthusiastic about the new models, which were unveiled earlier this month.</p> Technology News Mon, 23 Sep 2013 12:03:54 -0400 Associated Press 1063314436 http://bostonherald.com/business/business_markets/2013/09/american_us_airways_extend_merger_deadline <p>FORT WORTH, Texas — US Airways and American Airlines are extending their merger deadline by a month to give themselves time for an antitrust trial.</p><p>That trial is scheduled to begin Nov. 25. Their original agreement allowed either side to call off the merger on Dec. 17, but the trial might not be done by then. The new agreement extends that period until Jan. 18, or later if the court rules in favor of the airlines.</p> Business & Markets Mon, 23 Sep 2013 12:00:19 -0400 Associated Press 1063314391 http://bostonherald.com/business/business_markets/2013/09/yokohama_tire_breaks_ground_for_miss_facility <p>WEST POINT, Miss. — Yokohama Tire Corporation officials and state leaders gathered Monday for ceremonial ground breaking for a manufacturing facility that is expected to create hundreds of jobs.</p><p>Gov. Phil Bryant, company executives and others gathered for the ground breaking ceremony Monday in West Point, where the company will manufacture commercial truck tires.</p><p>West Point is a town of about 11,000 people northeast of Starkville.</p> Business & Markets Mon, 23 Sep 2013 11:34:52 -0400 Associated Press 1063314726 http://bostonherald.com/business/automotive/2013/09/mass_gas_prices_drop_a_nickel <p>BOSTON — Gasoline prices in Massachusetts continue to fall, down another nickel in the past week.</p><p>AAA Southern New England reports Monday that the average price of a gallon of self-serve, regular has dropped to $3.53 per gallon.</p><p>Even though prices are 9 cents per gallon lower than a month ago, and 30 cents per gallon lower than at the same time last year, Bay State prices remains 6 cents above the national average.</p><p>AAA found self-serve, regular selling as low as $3.41 per gallon and as high as $3.75.</p> Automotive Mon, 23 Sep 2013 11:33:00 -0400 Associated Press 1063314831 http://bostonherald.com/business/business_markets/2013/09/eurozone_recovery_seen_picking_up_pace <p>LONDON — Further evidence emerged Monday that the economic recovery across the 17 European Union countries that use the euro is picking up and that unemployment may be peaking.</p><p>The composite purchasing managers' index — a gauge of business activity across the manufacturing and services sectors published by financial information company Markit — rose for the sixth month running to a 27-month high of 52.1 points in September from 51.5 in August.</p> Business & Markets Mon, 23 Sep 2013 11:11:58 -0400 Associated Press 1063314116 http://bostonherald.com/business/business_markets/2013/09/popular_bathroom_wipes_blamed_for_sewer_clogs <p>BEMUS POINT, N.Y. — Increasingly popular bathroom wipes — pre-moistened towelettes that are often advertised as flushable — are being blamed for creating clogs and backups in sewer systems around the nation.</p><p>Wastewater authorities say wipes may go down the toilet, but even many labeled flushable aren't breaking down as they course through the sewer system. That's costing some municipalities millions of dollars to dispatch crews to unclog pipes and pumps and to replace and upgrade machinery.</p> Business & Markets Mon, 23 Sep 2013 10:55:00 -0400 Associated Press 1063313781 http://bostonherald.com/business/business_markets/2013/09/german_government_to_stay_course_in_euro_crisis <p>FRANKFURT, Germany — The big win for Angela Merkel's conservative party was an endorsement by German voters of her tough policies in tackling the euro currency union's government debt troubles. So don't expect any big change in course from her.</p><p>Merkel ran for re-election on her basic formula: help financially weak countries but impose harsh conditions, such as deep budget cuts and politically painful economic reforms.</p> Business & Markets Mon, 23 Sep 2013 10:39:55 -0400 Associated Press 1063314641 http://bostonherald.com/business/business_markets/2013/09/epa_to_effectively_shut_down_without_budget_deal <p>WASHINGTON — The head of the Environmental Protection Agency says the agency will "effectively shut down" unless Congress approves stopgap funding by Oct. 1.</p><p>EPA Administrator Gina McCarthy says the agency won't be able to pay employees. She says only a core group of people will remain on duty in case the EPA has to respond to a "significant emergency." The vast majority of employees will stay home.</p> Business & Markets Mon, 23 Sep 2013 10:38:28 -0400 Associated Press 1063314631 http://bostonherald.com/business/business_markets/2013/09/mass_utilities_seek_more_wind_power <p>BOSTON — The largest utilities in Massachusetts have signed long-term contracts to buy wind-generated electricity at prices below the cost of most other sources, including coal and nuclear, administration officials announced Monday.</p> Business & Markets Mon, 23 Sep 2013 10:15:09 -0400 Associated Press 1063314211 http://bostonherald.com/business/business_markets/2013/09/un_climate_experts_stress_solidity_of_new_report <p>STOCKHOLM — Seeking to dispel any doubts over the credibility of their work, U.N. climate experts called their latest report an unbiased and reliable assessment of global warming as they presented it Monday to officials from 110 governments for a final review.</p><p>The landmark report by the Intergovernmental Panel on Climate Change is expected to state with more confidence than its previous four assessments that global warming is mostly man-made.</p> Business & Markets Mon, 23 Sep 2013 09:44:36 -0400 Associated Press 1063314281 http://bostonherald.com/business/business_markets/2013/09/oil_falls_toward_104_a_barrel_as_syria_risk_fades <p>The price of oil slipped closer to $104 a barrel Monday despite positive economic news out of China and Europe, as the risk premium associated with the Syrian crisis diminished.</p><p>By early afternoon in Europe, benchmark oil for November delivery was down 34 cents to $104.41 in electronic trading on the New York Mercantile Exchange. On Friday, the now expired contract for October delivery dropped $1.72 to close at $104.67.</p> Business & Markets Mon, 23 Sep 2013 09:30:13 -0400 Associated Press 1063314476 http://bostonherald.com/business/business_markets/2013/09/un_agency_says_drop_in_child_labor_not_fast_enough <p>GENEVA — The number of children doing hazardous work dropped by half to 85 million from 2000 to 2012, but the rate of progress isn't fast enough to meet the goal of having no child laborers by 2016, the U.N. labor agency reported Monday.</p><p>The International Labor Organization's quadrennial review of child labor statistics highlighted the big drop. In 2000, 171 million children between five and 17 were doing work that directly endangered their health, safety and moral development, according to the agency.</p> Business & Markets Mon, 23 Sep 2013 09:16:30 -0400 Associated Press 1063314151 http://bostonherald.com/business/business_markets/2013/09/as_bad_debts_clog_vietnamese_banks_investors_wait <p>HANOI, Vietnam — The soured loans clogging up Vietnam's banks and the rows of abandoned houses gathering mold in the Hanoi rain are signs of a sick economy. But to foreign investors they represent an opportunity for sparkling returns — if only the Communist government makes them welcome.</p><p>Neil Hagan, an American debt recovery specialist who wants to start a company servicing bad loans in Vietnam on behalf of foreign buyers, says he gets weekly calls from hedge funds based in Singapore and Hong Kong asking whether now is the time to scoop up some of the debt.</p> Business & Markets Mon, 23 Sep 2013 09:15:47 -0400 Associated Press 1063314061 http://bostonherald.com/business/business_markets/2013/09/us_stocks_down_at_midday <p>NEW YORK — Investor worries about a budget fight in Washington pushed U.S. stocks lower on Monday, overshadowing the prospect of more economic stimulus from the Federal Reserve.</p><p>The Dow Jones industrial average was down in midday trading, extending two straight days of losses.</p><p>The Dow surged 147 points to an all-time high on Sept. 18 after the Fed decided to keep its huge economic stimulus program intact. That rally has since been erased by anxiety over a budget and debt fight in Washington.</p> Business & Markets Mon, 23 Sep 2013 08:24:00 -0400 Associated Press 1063314361
