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 This material may not be published, broadcast, rewritten or redistributed.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) House bill lets airlines advertise pre-tax fares http://www.sltrib.com/sltrib/money/58234160-79/fees-taxes-airlines-price.html.csp Washington • In a victory for airlines and their workers’ unions, the House rejected consumers’ complaints and easily passed legislation Monday letting airline advertising emphasize the base price of tickets, before taxes and fees are added. The bipartisan legislation would roll back federal regulations that since 2012 have required ads to most prominently display the full ticket price. Under the bill, the base price could be the figure most prominently shown in ads and ticket-selling websites a... Washington • In a victory for airlines and their workers’ unions, the House rejected consumers’ complaints and easily passed legislation Monday letting airline advertising emphasize the base price of tickets, before taxes and fees are added. The bipartisan legislation would roll back federal regulations that since 2012 have required ads to most prominently display the full ticket price. Under the bill, the base price could be the figure most prominently shown in ads and ticket-selling websites a... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58234160@www.sltrib.com Mon, 28 Jul 2014 17:38:02 MDT IBM, AT&T building technology for a disaster http://www.sltrib.com/sltrib/money/58234167-79/technology-ibm-companies-data.html.csp New York • When hurricanes come barreling toward land, people, airplanes and ships are relocated to avoid destruction. Now some of the world’s biggest technology companies are making advances in figuring out how to quickly move large amounts of critical data and software out of harm’s way, too. AT&T Inc., IBM Corp. and Applied Communications Sciences have created a prototype technology to reduce the time needed to connect remote networks from days to seconds. Part of a seven-year program from th... New York • When hurricanes come barreling toward land, people, airplanes and ships are relocated to avoid destruction. Now some of the world’s biggest technology companies are making advances in figuring out how to quickly move large amounts of critical data and software out of harm’s way, too. AT&T Inc., IBM Corp. and Applied Communications Sciences have created a prototype technology to reduce the time needed to connect remote networks from days to seconds. Part of a seven-year program from th... 58234167@www.sltrib.com Mon, 28 Jul 2014 17:38:02 MDT Ford raising prices on new F-150 trucks http://www.sltrib.com/sltrib/money/58234156-79/ford-truck-raising-150.html.csp Detroit • Ford is raising the price of its new aluminum-sided pickup truck, but still trying to stay competitive with rivals. Ford released pricing on the truck Monday. It goes on sale later this year. The new truck comes in five variants, down from 10 on the current truck. All have aluminum sides, which is more expensive than steel but weighs less and saves fuel. Ford’s base XL and XLT models — which make up 70 percent of sales — will cost $395 more. A fancier King Ranch costs $3,615 more, but ... Detroit • Ford is raising the price of its new aluminum-sided pickup truck, but still trying to stay competitive with rivals. Ford released pricing on the truck Monday. It goes on sale later this year. The new truck comes in five variants, down from 10 on the current truck. All have aluminum sides, which is more expensive than steel but weighs less and saves fuel. Ford’s base XL and XLT models — which make up 70 percent of sales — will cost $395 more. A fancier King Ranch costs $3,615 more, but ... 58234156@www.sltrib.com Mon, 28 Jul 2014 16:59:01 MDT Darden CEO quitting amid Olive Garden troubles http://www.sltrib.com/sltrib/money/58234146-79/darden-ceo-company-starboard.html.csp New York • Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster. Based in Orlando, the company also said Monday that it’s changing its corporate policies to split the chairman and CEO roles. It appointed current lead independent director, Charles Ledsinger, Jr., as independent non-executive chairman, effective immediately. Darden shares rose $2.03, or 4.5 percent, to $46.95 in a... New York • Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster. Based in Orlando, the company also said Monday that it’s changing its corporate policies to split the chairman and CEO roles. It appointed current lead independent director, Charles Ledsinger, Jr., as independent non-executive chairman, effective immediately. Darden shares rose $2.03, or 4.5 percent, to $46.95 in a... 58234146@www.sltrib.com Mon, 28 Jul 2014 16:49:02 MDT Bank of Cyprus shores up base with $1.3 billion http://www.sltrib.com/sltrib/money/58234132-79/bank-cyprus-billion-base.html.csp NICOSIA, Cyprus • Cyprus’ largest bank says it has bolstered its capital base by raising $1.34 billion through a private placement of new shares. Bank of Cyprus said late Monday the new shares each valued at 32 cents went to institutional investors from Europe, North America and Russia. It said existing shareholders will get a chance to buy back up to 20 percent of those shares, but that the total capital raised would remain at $1.34 billion. The bank said this will speed up its restructuring pl... NICOSIA, Cyprus • Cyprus’ largest bank says it has bolstered its capital base by raising $1.34 billion through a private placement of new shares. Bank of Cyprus said late Monday the new shares each valued at 32 cents went to institutional investors from Europe, North America and Russia. It said existing shareholders will get a chance to buy back up to 20 percent of those shares, but that the total capital raised would remain at $1.34 billion. The bank said this will speed up its restructuring pl... 58234132@www.sltrib.com Mon, 28 Jul 2014 16:45:02 MDT Latest Accord sedan is most fuel efficient http://www.sltrib.com/sltrib/money/58214970-79/accord-plug-electric-hybrid.html.csp The 2014 Honda Accord Plug-in Hybrid sedan doesn’t amaze and daze with its mainstream looks, nice cloth seats and pleasant ride. Its “wow” factor is, simply, how few times a driver may need to stop at a gasoline station in a year. This most fuel-thrifty Accord four door — the first with an electric plug — is propelled by stored electric power on most short trips of up to 13 miles. It carries along a 141-horsepower, four-cylinder engine for when trips go longer. But even on the longer trips, the ... The 2014 Honda Accord Plug-in Hybrid sedan doesn’t amaze and daze with its mainstream looks, nice cloth seats and pleasant ride. Its “wow” factor is, simply, how few times a driver may need to stop at a gasoline station in a year. This most fuel-thrifty Accord four door — the first with an electric plug — is propelled by stored electric power on most short trips of up to 13 miles. It carries along a 141-horsepower, four-cylinder engine for when trips go longer. But even on the longer trips, the ... 58214970@www.sltrib.com Mon, 28 Jul 2014 15:37:02 MDT Review: Amazon Fire offers new ways to use phones http://www.sltrib.com/sltrib/money/58214979-79/amazon-phone-fire-app.html.csp New York • What I find fascinating about Amazon’s Fire phone isn’t the gizmos such as the 3-D imagery or the camera scanner that helps you get more information about products. Rather, I like that Amazon is thinking a lot about how phones ought to work. The iPhone and its Android smartphone rivals are so much alike that companies have been suing each other for stealing ideas. The Fire phone uses Android, but Amazon has modified it to the point that it’s barely recognizable. That means the phone o... New York • What I find fascinating about Amazon’s Fire phone isn’t the gizmos such as the 3-D imagery or the camera scanner that helps you get more information about products. Rather, I like that Amazon is thinking a lot about how phones ought to work. The iPhone and its Android smartphone rivals are so much alike that companies have been suing each other for stealing ideas. The Fire phone uses Android, but Amazon has modified it to the point that it’s barely recognizable. That means the phone o... 58214979@www.sltrib.com Mon, 28 Jul 2014 15:37:02 MDT West’s largest coal-fired plant on track to close http://www.sltrib.com/sltrib/money/58233585-79/plant-epa-power-proposal.html.csp Flagstaff, Ariz. • The largest coal-fired power plant in the West will produce one-third less energy by 2020 and is on track to cease operations in 2044 under a proposal that the federal government adopted to cut haze-causing emissions of nitrogen oxide at places like the Grand Canyon. The U.S. Environmental Protection Agency announced Monday that the owners of the Navajo Generating Station could either shut down one of the plant’s 750-megawatt units or reduce power generation by an equal amount... Flagstaff, Ariz. • The largest coal-fired power plant in the West will produce one-third less energy by 2020 and is on track to cease operations in 2044 under a proposal that the federal government adopted to cut haze-causing emissions of nitrogen oxide at places like the Grand Canyon. The U.S. Environmental Protection Agency announced Monday that the owners of the Navajo Generating Station could either shut down one of the plant’s 750-megawatt units or reduce power generation by an equal amount... 58233585@www.sltrib.com Mon, 28 Jul 2014 15:19:43 MDT Officials: Funds secured for nuclear fuel project http://www.sltrib.com/sltrib/money/58233634-79/fuel-project-nuclear-money.html.csp Savannah River Site, S.C. • South Carolina Gov. Nikki Haley and members of her state’s congressional delegation say federal lawmakers have secured enough money to ensure a nuclear fuel project at the Savannah River Site goes forward. U.S. Sens. Lindsey Graham and Tim Scott said Monday that congressional budgets have the money to keep the mixed oxide fuel project from being suspended. Construction began on the plant in 2007. It is part of an agreement with Russia to turn nuclear weapons into reac... Savannah River Site, S.C. • South Carolina Gov. Nikki Haley and members of her state’s congressional delegation say federal lawmakers have secured enough money to ensure a nuclear fuel project at the Savannah River Site goes forward. U.S. Sens. Lindsey Graham and Tim Scott said Monday that congressional budgets have the money to keep the mixed oxide fuel project from being suspended. Construction began on the plant in 2007. It is part of an agreement with Russia to turn nuclear weapons into reac... 58233634@www.sltrib.com Mon, 28 Jul 2014 14:34:02 MDT Smith & Wesson paying $2M to settle SEC charges http://www.sltrib.com/sltrib/money/58233603-79/company-smith-wesson-sec.html.csp Washington • Smith & Wesson has agreed to pay $2 million to settle civil charges of bribing government officials in Pakistan, Indonesia and other countries to win military and police business. The Securities and Exchange Commission announced the settlement Monday with the firearms maker, which fired its entire international sales staff after the alleged violations came to light. Smith & Wesson Holding Corp., based in Springfield, Massachusetts, neither admitted nor denied wrongdoing. As the comp... Washington • Smith & Wesson has agreed to pay $2 million to settle civil charges of bribing government officials in Pakistan, Indonesia and other countries to win military and police business. The Securities and Exchange Commission announced the settlement Monday with the firearms maker, which fired its entire international sales staff after the alleged violations came to light. Smith & Wesson Holding Corp., based in Springfield, Massachusetts, neither admitted nor denied wrongdoing. As the comp... 58233603@www.sltrib.com Mon, 28 Jul 2014 14:28:02 MDT Appeals court says St. Luke’s can run Saltzer http://www.sltrib.com/sltrib/money/58233612-79/luke-saltzer-court-health.html.csp Boise • One of Idaho’s largest health care providers can continue to operate Nampa-based Saltzer Medical Group while it challenges a prior ruling that it broke antitrust laws in its buyout of Saltzer, according to a recent federal appeals court decision. The 9th U.S. Circuit Court of Appeals said Friday the appeal is a top priority, the Idaho Statesman reported. Acknowledging that federal appeals cases usually take years to complete, the judges said they will schedule the case for the first open... Boise • One of Idaho’s largest health care providers can continue to operate Nampa-based Saltzer Medical Group while it challenges a prior ruling that it broke antitrust laws in its buyout of Saltzer, according to a recent federal appeals court decision. The 9th U.S. Circuit Court of Appeals said Friday the appeal is a top priority, the Idaho Statesman reported. Acknowledging that federal appeals cases usually take years to complete, the judges said they will schedule the case for the first open... 58233612@www.sltrib.com Mon, 28 Jul 2014 14:28:02 MDT FAA proposes $12M fine for Southwest Airlines http://www.sltrib.com/sltrib/money/58233568-79/faa-southwest-airline-fine.html.csp Washington • The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners. It is the second-largest fine the agency has proposed against an airline. The largest proposed fine was against American Airlines for $24.2 million in August 2010. That one was ultimately settled for $24.9 million as part of American’s bankruptcy proceedings, although the final se... Washington • The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners. It is the second-largest fine the agency has proposed against an airline. The largest proposed fine was against American Airlines for $24.2 million in August 2010. That one was ultimately settled for $24.9 million as part of American’s bankruptcy proceedings, although the final se... 58233568@www.sltrib.com Mon, 28 Jul 2014 14:13:02 MDT Red Lobster goes vertical on plate to push quality http://www.sltrib.com/sltrib/money/58233069-79/lobster-red-fish-lopdrup.html.csp New York • Red Lobster wants to be seen as a purveyor of quality seafood, so it’s getting rid of some of its promotional discounts and stacking the food higher on plates, as is the style at fancier restaurants. The changes mark the latest attempt by the struggling seafood to stop a years-long sales decline as it embarks on a new era. On Monday, Darden Restaurants Inc. said it completed its sale of the chain to investment firm Golden Gate Capital, despite contentious protests from activist invest... New York • Red Lobster wants to be seen as a purveyor of quality seafood, so it’s getting rid of some of its promotional discounts and stacking the food higher on plates, as is the style at fancier restaurants. The changes mark the latest attempt by the struggling seafood to stop a years-long sales decline as it embarks on a new era. On Monday, Darden Restaurants Inc. said it completed its sale of the chain to investment firm Golden Gate Capital, despite contentious protests from activist invest... 58233069@www.sltrib.com Mon, 28 Jul 2014 13:35:24 MDT Not in my backyard: U.S. sending dirty coal abroad http://www.sltrib.com/sltrib/money/58232831-79/coal-global-energy-exports.html.csp Newport News, Va. • As the Obama administration weans the U.S. off dirty fuels blamed for global warming, energy companies have been sending more of America’s unwanted energy leftovers to other parts of the world where they could create even more pollution. This fossil fuel trade threatens to undermine President Barack Obama’s strategy for reducing the gases blamed for climate change and reveals a little-discussed side effect of countries acting alone on a global problem. The contribution of thi... Newport News, Va. • As the Obama administration weans the U.S. off dirty fuels blamed for global warming, energy companies have been sending more of America’s unwanted energy leftovers to other parts of the world where they could create even more pollution. This fossil fuel trade threatens to undermine President Barack Obama’s strategy for reducing the gases blamed for climate change and reveals a little-discussed side effect of countries acting alone on a global problem. The contribution of thi... 58232831@www.sltrib.com Mon, 28 Jul 2014 12:29:02 MDT Five things to know about coal trade, global warming http://www.sltrib.com/sltrib/money/58232844-79/coal-exports-global-demand.html.csp As the Obama administration weans the U.S. off polluting fuels blamed for global warming, energy companies have been sending more of America’s unwanted energy leftovers to other parts of the world where they could create even more pollution. Here are five things to know about the issue: 1. AS U.S. REDUCES COAL USE, DEMAND RISES GLOBALLY. Over the past six years, the U.S. has cut consumption by 195 million tons as power plants have burned cheaper natural gas instead. The Environmental Protection ... As the Obama administration weans the U.S. off polluting fuels blamed for global warming, energy companies have been sending more of America’s unwanted energy leftovers to other parts of the world where they could create even more pollution. Here are five things to know about the issue: 1. AS U.S. REDUCES COAL USE, DEMAND RISES GLOBALLY. Over the past six years, the U.S. has cut consumption by 195 million tons as power plants have burned cheaper natural gas instead. The Environmental Protection ... 58232844@www.sltrib.com Mon, 28 Jul 2014 12:29:02 MDT U.S. companies fishing for growth overseas http://www.sltrib.com/sltrib/money/58232692-79/companies-growth-company-percent.html.csp San Francisco • Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home. Technology trendsetters Apple Inc., Google Inc., Facebook Inc. and Netflix Inc. all mined foreign countries to produce earnings or revenue that exceeded analysts’ projections in their latest quarters. Prodded by the steadily rising demand for Internet access and online services in developing countries, these technology companies will likely be wading even deeper into o... San Francisco • Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home. Technology trendsetters Apple Inc., Google Inc., Facebook Inc. and Netflix Inc. all mined foreign countries to produce earnings or revenue that exceeded analysts’ projections in their latest quarters. Prodded by the steadily rising demand for Internet access and online services in developing countries, these technology companies will likely be wading even deeper into o... 58232692@www.sltrib.com Mon, 28 Jul 2014 12:28:01 MDT Ryanair says quarterly earnings more than double http://www.sltrib.com/sltrib/money/58232963-79/million-profit-percent-ryanair.html.csp London • Ryanair Holdings lifted its fiscal full-year profit goal after saying first-quarter profit more than doubled as it filled more seats and benefited from strong Easter travel. Profit after tax for the year through March 2015 probably will be $833 million to $871 million, an increase from a previous guidance of $780 million to $833 million, the Dublin-based airline said Monday. Profit after tax for the three months ended June 30 more than doubled to $265 million from $105 million, as sales... London • Ryanair Holdings lifted its fiscal full-year profit goal after saying first-quarter profit more than doubled as it filled more seats and benefited from strong Easter travel. Profit after tax for the year through March 2015 probably will be $833 million to $871 million, an increase from a previous guidance of $780 million to $833 million, the Dublin-based airline said Monday. Profit after tax for the three months ended June 30 more than doubled to $265 million from $105 million, as sales... 58232963@www.sltrib.com Mon, 28 Jul 2014 11:10:02 MDT Gold bugs, Bitcoin believers in bid to supplant dollar http://www.sltrib.com/sltrib/money/58232951-79/bitcoin-gold-exchange-according.html.csp New York • Call it bitgold. It’s what you get when you combine bitcoin, one of the world’s newest would-be currencies, and gold, one of the oldest. Add mistrust of centralized authority, a dash of rebelliousness and a dollop of profit motive and you might have the Independence Coin, the first gold-backed crypto-money, unveiled this month at FreedomFest, a libertarian convention in -- where else? -- Las Vegas. “A staunch person who believes in the gold standard says bitcoin is valueless and ultim... New York • Call it bitgold. It’s what you get when you combine bitcoin, one of the world’s newest would-be currencies, and gold, one of the oldest. Add mistrust of centralized authority, a dash of rebelliousness and a dollop of profit motive and you might have the Independence Coin, the first gold-backed crypto-money, unveiled this month at FreedomFest, a libertarian convention in -- where else? -- Las Vegas. “A staunch person who believes in the gold standard says bitcoin is valueless and ultim... 58232951@www.sltrib.com Mon, 28 Jul 2014 10:57:01 MDT Korean Air chief in line to lead Pyeongchang Games http://www.sltrib.com/sltrib/money/58232942-79/committee-korean-organizing-pyeongchang.html.csp Seoul • The South Korean businessman who led Pyeongchang’s successful bid for the Winter Olympics is set to return as head of the organizing committee for the 2018 Games. Cho Yang-ho, chairman of Korean conglomerate Hanjin Group, said in a statement released by the company that he has accepted the position made vacant by the surprise resignation last week of Kim Jin-sun. The new chairman needs to be officially approved at a meeting of Pyeongchang’s local organizing committee on Friday. Cho’s ele... Seoul • The South Korean businessman who led Pyeongchang’s successful bid for the Winter Olympics is set to return as head of the organizing committee for the 2018 Games. Cho Yang-ho, chairman of Korean conglomerate Hanjin Group, said in a statement released by the company that he has accepted the position made vacant by the surprise resignation last week of Kim Jin-sun. The new chairman needs to be officially approved at a meeting of Pyeongchang’s local organizing committee on Friday. Cho’s ele... 58232942@www.sltrib.com Mon, 28 Jul 2014 10:51:02 MDT EU antitrust body clears Apple’s $3B Beats deal http://www.sltrib.com/sltrib/money/58232937-79/beats-apple-antitrust-deal.html.csp Brussels • The European Union’s antitrust authority has cleared Apple’s $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services. The 28-nation bloc’s executive Commission said Monday the transaction does not threaten competition because the firms’ combined European market share in both fields will be low while facing strong competitors. The takeover of Beats Electronics and Beats Music announced in May for $2.6 billion in cash and $400 million in stoc... Brussels • The European Union’s antitrust authority has cleared Apple’s $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services. The 28-nation bloc’s executive Commission said Monday the transaction does not threaten competition because the firms’ combined European market share in both fields will be low while facing strong competitors. The takeover of Beats Electronics and Beats Music announced in May for $2.6 billion in cash and $400 million in stoc... 58232937@www.sltrib.com Mon, 28 Jul 2014 10:48:02 MDT