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 This material may not be published, broadcast, rewritten or redistributed.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) Baltimore’s first casino highlights a national trend http://www.sltrib.com/sltrib/money/58344743-79/casino-baltimore-horseshoe-casinos.html.csp Baltimore • At the Horseshoe Casino’s grand opening, showgirls adorned in gold glitter, beaded loincloths, feather headdresses and fuchsia false eyelashes stood atop pedestals in the courtyard, while VIP patrons in high heels and higher hemlines downed glass after glass of champagne. The glitz and glamour Tuesday suggested someplace flashy like Las Vegas or Atlantic City. But the scene beyond the aerial acrobat winding her way up and down a cloth ribbon suspended from a chandelier made of fake d... Baltimore • At the Horseshoe Casino’s grand opening, showgirls adorned in gold glitter, beaded loincloths, feather headdresses and fuchsia false eyelashes stood atop pedestals in the courtyard, while VIP patrons in high heels and higher hemlines downed glass after glass of champagne. The glitz and glamour Tuesday suggested someplace flashy like Las Vegas or Atlantic City. But the scene beyond the aerial acrobat winding her way up and down a cloth ribbon suspended from a chandelier made of fake d... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58344743@www.sltrib.com Wed, 27 Aug 2014 18:35:02 MDT Deal on health care aids port contract talks http://www.sltrib.com/sltrib/money/58344815-79/health-contract-dockworkers-care.html.csp Los Angeles • Negotiators hoping to forge a new contract for dockworkers and keep hundreds of billions of dollars in cargo moving smoothly through West Coast seaports made significant progress with a tentative deal on health care benefits, a knotty issue that tied up talks for months. West Coast dockworkers already have unusually generous health benefits — so generous, argue their employers who pay for the coverage, that the insurance plan has become riddled with fraud. Doctors and clinics have ... Los Angeles • Negotiators hoping to forge a new contract for dockworkers and keep hundreds of billions of dollars in cargo moving smoothly through West Coast seaports made significant progress with a tentative deal on health care benefits, a knotty issue that tied up talks for months. West Coast dockworkers already have unusually generous health benefits — so generous, argue their employers who pay for the coverage, that the insurance plan has become riddled with fraud. Doctors and clinics have ... 58344815@www.sltrib.com Wed, 27 Aug 2014 18:12:02 MDT Tim Hortons’ takeover faces few Canadian hurdles http://www.sltrib.com/sltrib/money/58344781-79/hortons-tim-canada-percent.html.csp Toronto • Burger King Worldwide Inc.’s $11.4 billion takeover of Tim Hortons Inc. is likely to go through with little objection from regulators or shareholders - at least in Canada. Under the terms of the deal, Tim Hortons investors will receive $60.26 in cash and 0.8025 of a share in the combined entity that will be domiciled in Canada. That amounts to roughly $86 a share, based on Burger King’s closing price Aug. 25 before the terms of the deal were announced. “It’s a done deal, nobody is goin... Toronto • Burger King Worldwide Inc.’s $11.4 billion takeover of Tim Hortons Inc. is likely to go through with little objection from regulators or shareholders - at least in Canada. Under the terms of the deal, Tim Hortons investors will receive $60.26 in cash and 0.8025 of a share in the combined entity that will be domiciled in Canada. That amounts to roughly $86 a share, based on Burger King’s closing price Aug. 25 before the terms of the deal were announced. “It’s a done deal, nobody is goin... 58344781@www.sltrib.com Wed, 27 Aug 2014 18:08:02 MDT Worker protest disrupts life in Argentine capital http://www.sltrib.com/sltrib/money/58344761-79/members-government-protest-strike.html.csp Buenos Aires • A labor organization opposed to Argentine President Cristina Fernandez caused traffic jams and disrupted life for many in the capital Wednesday at the start of a 36-hour strike. Members of the Central Workers Union, which includes many public-sector employees, joined demonstrations that blocked major thoroughfares in Buenos Aires in a protest over taxes, wages and the overall cost of living in the country. Union members also called on the government to halt a wave of private-secto... Buenos Aires • A labor organization opposed to Argentine President Cristina Fernandez caused traffic jams and disrupted life for many in the capital Wednesday at the start of a 36-hour strike. Members of the Central Workers Union, which includes many public-sector employees, joined demonstrations that blocked major thoroughfares in Buenos Aires in a protest over taxes, wages and the overall cost of living in the country. Union members also called on the government to halt a wave of private-secto... 58344761@www.sltrib.com Wed, 27 Aug 2014 17:56:02 MDT Hyundai’s top SUV is making sales gains http://www.sltrib.com/sltrib/money/58342798-79/santa-seats-2014-row.html.csp The 2014 Hyundai Santa Fe mid-size sport utility vehicle stands out from the crowd for its attractive styling, comfortable ride, value pricing, surprising standard features and warranty. In fact, sales of Hyundai’s best-selling SUV are up 26.4 percent so far this calendar year — to more than 60,000 — compared with the same period a year ago. And this is the Santa Fe that had only minor changes in standard and optional equipment for the model year. Maybe more shoppers are finding the Santa Fe bec... The 2014 Hyundai Santa Fe mid-size sport utility vehicle stands out from the crowd for its attractive styling, comfortable ride, value pricing, surprising standard features and warranty. In fact, sales of Hyundai’s best-selling SUV are up 26.4 percent so far this calendar year — to more than 60,000 — compared with the same period a year ago. And this is the Santa Fe that had only minor changes in standard and optional equipment for the model year. Maybe more shoppers are finding the Santa Fe bec... 58342798@www.sltrib.com Wed, 27 Aug 2014 17:50:01 MDT South Korea’s Kia to invest $1 billion in Mexico http://www.sltrib.com/sltrib/money/58344728-79/mexico-car-kia-billion.html.csp Mexico City • South Korea’s Kia Motors Corp. said Wednesday it will invest more than $1 billion to build a car factory in northern Mexico that is expected to begin production in 2016. The company said the new plant in Nuevo Leon state, across the border from Texas, will have the capacity to make 300,000 cars a year. Kia’s announcement follows several by other car companies planning to expand or build new factories in Mexico. Last month, Germany’s BMW said it will spend $1 billion to build a new ... Mexico City • South Korea’s Kia Motors Corp. said Wednesday it will invest more than $1 billion to build a car factory in northern Mexico that is expected to begin production in 2016. The company said the new plant in Nuevo Leon state, across the border from Texas, will have the capacity to make 300,000 cars a year. Kia’s announcement follows several by other car companies planning to expand or build new factories in Mexico. Last month, Germany’s BMW said it will spend $1 billion to build a new ... 58344728@www.sltrib.com Wed, 27 Aug 2014 17:46:02 MDT Apple loses bid to block sales of 9 Samsung phones http://www.sltrib.com/sltrib/money/58344720-79/apple-samsung-iphone-galaxy.html.csp San Jose, Calif. • A federal judge has rejected Apple’s attempt to block the sale of several older Samsung smartphones that copied features in the iPhone. Wednesday’s rebuff comes nearly four months after a jury awarded Apple Inc. $119 million in damages for Samsung’s infringements on technology used in the trend-setting iPhone. The amount was well below the $2.2 billion in damages that Apple had been seeking in the latest round of legal wrangling between the world’s two leading smartphone maker... San Jose, Calif. • A federal judge has rejected Apple’s attempt to block the sale of several older Samsung smartphones that copied features in the iPhone. Wednesday’s rebuff comes nearly four months after a jury awarded Apple Inc. $119 million in damages for Samsung’s infringements on technology used in the trend-setting iPhone. The amount was well below the $2.2 billion in damages that Apple had been seeking in the latest round of legal wrangling between the world’s two leading smartphone maker... 58344720@www.sltrib.com Wed, 27 Aug 2014 17:43:02 MDT State cracks down on three e-cigarette marketers http://www.sltrib.com/sltrib/money/58343358-79/utah-act-consumer-llc.html.csp Three companies marketing e-cigarettes online in Utah could face fines of up to $1.1 million for 451 alleged violations of consumer-safety laws. The Utah Division of Consumer Protection filed charges Tuesday against: • Vapex LLC, with addresses in Bountiful, for 329 counts of violating the Utah Consumer Sales Practices Act and the Utah Telephone Fraud Prevention Act, maximum possible fine $822,500; • Sinless Valpor LLC, Heber City, for 94 counts of violating the Sales Practices Act, maximum pote... Three companies marketing e-cigarettes online in Utah could face fines of up to $1.1 million for 451 alleged violations of consumer-safety laws. The Utah Division of Consumer Protection filed charges Tuesday against: • Vapex LLC, with addresses in Bountiful, for 329 counts of violating the Utah Consumer Sales Practices Act and the Utah Telephone Fraud Prevention Act, maximum possible fine $822,500; • Sinless Valpor LLC, Heber City, for 94 counts of violating the Sales Practices Act, maximum pote... 58343358@www.sltrib.com Wed, 27 Aug 2014 17:26:20 MDT Seniors share homes for cost saving, companionship http://www.sltrib.com/sltrib/money/58251256-79/allen-seniors-rosenfeld-agencies.html.csp NEW YORK • It’s not exactly “The Golden Girls,” but for Marcia Rosenfeld, it’ll do. Rosenfeld is among thousands of aging Americans taking part in home-sharing programs around the country that allow seniors to stay in their homes and save money while getting some much-needed companionship. “It’s a wonderful arrangement,” said the white-haired Rosenfeld, who when asked her age will only say she’s a senior citizen. “The way the rents are these days, I couldn’t stay here without it.” She shares her... NEW YORK • It’s not exactly “The Golden Girls,” but for Marcia Rosenfeld, it’ll do. Rosenfeld is among thousands of aging Americans taking part in home-sharing programs around the country that allow seniors to stay in their homes and save money while getting some much-needed companionship. “It’s a wonderful arrangement,” said the white-haired Rosenfeld, who when asked her age will only say she’s a senior citizen. “The way the rents are these days, I couldn’t stay here without it.” She shares her... 58251256@www.sltrib.com Wed, 27 Aug 2014 16:15:01 MDT Once in the shadows, gay bathhouses seek attention http://www.sltrib.com/sltrib/money/58343810-79/bathhouses-bathhouse-gay-angeles.html.csp Los Angeles • Gay bathhouses that once remained in the shadows to stay in business are now seeking attention to keep their doors open. Some are doing aggressive online advertising and community outreach. Others tout their upscale amenities like plush towels and marble baths. A bathhouse in Ohio has even added hotel rooms and a nightclub. Gone are the days when bathhouses drew crowds just by offering a discreet place for gays to meet, share saunas and, often, have sex. “The acceptance of gays has... Los Angeles • Gay bathhouses that once remained in the shadows to stay in business are now seeking attention to keep their doors open. Some are doing aggressive online advertising and community outreach. Others tout their upscale amenities like plush towels and marble baths. A bathhouse in Ohio has even added hotel rooms and a nightclub. Gone are the days when bathhouses drew crowds just by offering a discreet place for gays to meet, share saunas and, often, have sex. “The acceptance of gays has... 58343810@www.sltrib.com Wed, 27 Aug 2014 14:39:01 MDT Analysts betting interest rates will rise in Mexico http://www.sltrib.com/sltrib/money/58343974-79/mexico-percent-economy-growth.html.csp Mexico City • After Mexico’s economy failed to gain much traction during President Enrique Pena Nieto’s first two years in office, growth is finally starting to pick up. That’s prompted traders to predict the first interest-rate increase since 2008. The odds that Banco de Mexico will lift its benchmark rate in the next year have jumped to 32 percent, from zero two weeks ago, after an Aug. 21 report showed the economy grew faster than analysts’ estimates in the second quarter. The central bank ha... Mexico City • After Mexico’s economy failed to gain much traction during President Enrique Pena Nieto’s first two years in office, growth is finally starting to pick up. That’s prompted traders to predict the first interest-rate increase since 2008. The odds that Banco de Mexico will lift its benchmark rate in the next year have jumped to 32 percent, from zero two weeks ago, after an Aug. 21 report showed the economy grew faster than analysts’ estimates in the second quarter. The central bank ha... 58343974@www.sltrib.com Wed, 27 Aug 2014 14:39:01 MDT Uber wins court ruling stopping German city ban http://www.sltrib.com/sltrib/money/58343991-79/uber-ban-court-german.html.csp Berlin • Uber Technologies Inc., maker of the ride-hailing application that’s being challenged by taxi drivers around the globe, won a bid to halt a municipal agency’s decision to ban the service in the German city of Hamburg. An administrative court ruled Wednesday that the wrong city agency issued the ban and Hamburg can’t enforce the restriction while it reviews a challenge filed by the company, court spokesman Andreas Lambiris said. Another agency at the city has jurisdiction over the matter... Berlin • Uber Technologies Inc., maker of the ride-hailing application that’s being challenged by taxi drivers around the globe, won a bid to halt a municipal agency’s decision to ban the service in the German city of Hamburg. An administrative court ruled Wednesday that the wrong city agency issued the ban and Hamburg can’t enforce the restriction while it reviews a challenge filed by the company, court spokesman Andreas Lambiris said. Another agency at the city has jurisdiction over the matter... 58343991@www.sltrib.com Wed, 27 Aug 2014 14:28:02 MDT China Telecom profit rises as mobile data grows http://www.sltrib.com/sltrib/money/58343966-79/mobile-china-percent-data.html.csp Beijing • China Telecom Ltd., one of the country’s three main state-owned carriers, said Wednesday its profit rose 11.8 percent in the first half of the year as its Internet and mobile data businesses grew. The Beijing-based company earned $1.9 billion, or 2 U.S. cents per share, in the six months ended June 30. Revenue rose 5.3 percent to $27.2 billion. Profits for China Telecom and its rivals, China Mobile Ltd. and China Unicom Ltd., have been squeezed by intense competition and the costs of r... Beijing • China Telecom Ltd., one of the country’s three main state-owned carriers, said Wednesday its profit rose 11.8 percent in the first half of the year as its Internet and mobile data businesses grew. The Beijing-based company earned $1.9 billion, or 2 U.S. cents per share, in the six months ended June 30. Revenue rose 5.3 percent to $27.2 billion. Profits for China Telecom and its rivals, China Mobile Ltd. and China Unicom Ltd., have been squeezed by intense competition and the costs of r... 58343966@www.sltrib.com Wed, 27 Aug 2014 14:19:02 MDT Hackerspaces used to turn ideas turn into reality http://www.sltrib.com/sltrib/money/58343960-79/hackerspaces-turn-altman-ideas.html.csp Mesa, Ariz. • At HeatSync Labs, the tables are littered with computer chips, pens, pads and tools while the room is abuzz with the chatter of would-be inventors hoping to change the world — or just make cool things. They are part of a growing global movement of so-called hackerspaces. The idea for places where people could experiment began to take shape in the U.S. after Mitch Altman, 57, founder of a similar setup in San Francisco called Noisebridge, and other Americans attended a 2007 computin... Mesa, Ariz. • At HeatSync Labs, the tables are littered with computer chips, pens, pads and tools while the room is abuzz with the chatter of would-be inventors hoping to change the world — or just make cool things. They are part of a growing global movement of so-called hackerspaces. The idea for places where people could experiment began to take shape in the U.S. after Mitch Altman, 57, founder of a similar setup in San Francisco called Noisebridge, and other Americans attended a 2007 computin... 58343960@www.sltrib.com Wed, 27 Aug 2014 14:16:01 MDT Spiders force Suzuki to recall midsize cars http://www.sltrib.com/sltrib/money/58343848-79/cars-suzuki-recall-midsize.html.csp Detroit • Spiders have forced Suzuki to recall more than 19,000 midsize cars. The automaker says spider webs can clog a fuel vapor vent hose in some 2010 to 2013 Kizashi cars, cutting off air flow. If that happens, it can cause the gas tank to deform, causing cracks, fuel leaks and possible fires. The recall was prompted by seven reports of the problem. Service centers will replace the vent line with one that has a filter on the end. They’ll also replace gas tanks if necessary. The problem hasn’... Detroit • Spiders have forced Suzuki to recall more than 19,000 midsize cars. The automaker says spider webs can clog a fuel vapor vent hose in some 2010 to 2013 Kizashi cars, cutting off air flow. If that happens, it can cause the gas tank to deform, causing cracks, fuel leaks and possible fires. The recall was prompted by seven reports of the problem. Service centers will replace the vent line with one that has a filter on the end. They’ll also replace gas tanks if necessary. The problem hasn’... 58343848@www.sltrib.com Wed, 27 Aug 2014 13:55:02 MDT Spanish retail chain pulls kids’ shirt after outcry http://www.sltrib.com/sltrib/money/58343834-79/shirt-inditex-camps-chain.html.csp Madrid • Spanish fashion retailer Inditex said Wednesday it has withdrawn a children’s shirt that triggered an outcry from people who said it was reminiscent of the clothes Jews were made to wear at Nazi concentration camps. The long-sleeved shirt with horizontal dark stripes and a six-pointed yellow star on the left side of the chest prompted a storm on social media, with many people finding the shirt distasteful because it conjured up memories of the Holocaust. “It was only on sale for a few h... Madrid • Spanish fashion retailer Inditex said Wednesday it has withdrawn a children’s shirt that triggered an outcry from people who said it was reminiscent of the clothes Jews were made to wear at Nazi concentration camps. The long-sleeved shirt with horizontal dark stripes and a six-pointed yellow star on the left side of the chest prompted a storm on social media, with many people finding the shirt distasteful because it conjured up memories of the Holocaust. “It was only on sale for a few h... 58343834@www.sltrib.com Wed, 27 Aug 2014 13:50:01 MDT Citing Ebola, Air France suspends African flights http://www.sltrib.com/sltrib/money/58343786-79/flights-leone-sierra-ebola.html.csp Paris • France recommended Wednesday that its citizens leave the African countries of Sierra Leone and Liberia because of the outbreak of Ebola there, and Air France temporarily suspended its three flights a week to Sierra Leone. The disease has now killed more than 1,400 people in West Africa. Air France announced that it temporarily halted its flights to Freetown, Sierra Leone because of the Ebola outbreak there and at the request of the French government. The French national carrier said it i... Paris • France recommended Wednesday that its citizens leave the African countries of Sierra Leone and Liberia because of the outbreak of Ebola there, and Air France temporarily suspended its three flights a week to Sierra Leone. The disease has now killed more than 1,400 people in West Africa. Air France announced that it temporarily halted its flights to Freetown, Sierra Leone because of the Ebola outbreak there and at the request of the French government. The French national carrier said it i... 58343786@www.sltrib.com Wed, 27 Aug 2014 13:41:02 MDT Alibaba’s revenue growth surges in latest quarter http://www.sltrib.com/sltrib/money/58343779-79/alibaba-company-billion-ipo.html.csp San Francisco • Alibaba’s quarterly revenue growth is surging again, a development that should help the Chinese e-commerce company sell its shares in what could become the technology industry’s most lucrative IPO. The latest evidence of Alibaba’s financial allure surfaced in a regulatory update filed Wednesday as the company prepares to complete its initial public offering of stock next month. Alibaba’s latest quarter ending June 30 was highlighted by revenue of $2.54 billion, a 46 percent incre... San Francisco • Alibaba’s quarterly revenue growth is surging again, a development that should help the Chinese e-commerce company sell its shares in what could become the technology industry’s most lucrative IPO. The latest evidence of Alibaba’s financial allure surfaced in a regulatory update filed Wednesday as the company prepares to complete its initial public offering of stock next month. Alibaba’s latest quarter ending June 30 was highlighted by revenue of $2.54 billion, a 46 percent incre... 58343779@www.sltrib.com Wed, 27 Aug 2014 13:37:02 MDT Low-budget Ryanair launches business class http://www.sltrib.com/sltrib/money/58343772-79/ryanair-business-class-travel.html.csp Dublin • European budget carrier Ryanair is offering business-class tickets in an attempt to woo companies and governments during penny-pinching times. Marketed under the slogan “Your boss will approve,” the new ticket reverses some of the airline’s more reviled policies for fee-dazzled travelers. The Dublin-based company, long Europe’s fastest-growing airline with a sell-it-cheap, stack-‘em-high philosophy, says it hopes to capture three-fourths of all business travel between Britain and Irelan... Dublin • European budget carrier Ryanair is offering business-class tickets in an attempt to woo companies and governments during penny-pinching times. Marketed under the slogan “Your boss will approve,” the new ticket reverses some of the airline’s more reviled policies for fee-dazzled travelers. The Dublin-based company, long Europe’s fastest-growing airline with a sell-it-cheap, stack-‘em-high philosophy, says it hopes to capture three-fourths of all business travel between Britain and Irelan... 58343772@www.sltrib.com Wed, 27 Aug 2014 13:34:02 MDT GM to move Cadillac SRX production to Tennessee http://www.sltrib.com/sltrib/money/58343738-79/hill-spring-factory-cadillac.html.csp Spring Hill, Tenn. • General Motors is moving production of the next-generation Cadillac SRX crossover SUV from Mexico to a factory in Spring Hill, Tennessee. The company also announced Wednesday it will add production of some small gasoline engines to the Spring Hill complex. The additions will bring more jobs to Spring Hill, but a spokesman wouldn’t give specifics on how many would be added to the sprawling former Saturn facility about 40 miles south of Nashville. All GM said in a statement is... Spring Hill, Tenn. • General Motors is moving production of the next-generation Cadillac SRX crossover SUV from Mexico to a factory in Spring Hill, Tennessee. The company also announced Wednesday it will add production of some small gasoline engines to the Spring Hill complex. The additions will bring more jobs to Spring Hill, but a spokesman wouldn’t give specifics on how many would be added to the sprawling former Saturn facility about 40 miles south of Nashville. All GM said in a statement is... 58343738@www.sltrib.com Wed, 27 Aug 2014 13:29:01 MDT