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 This material may not be published, broadcast, rewritten or redistributed.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) Nevada commission adopts fracking regulations http://www.sltrib.com/sltrib/money/58356682-79/nevada-regulations-fracking-oil.html.csp Elko Nev. • A state panel has approved regulations guiding oil and gas exploration companies’ use of hydraulic fracturing, better known as fracking, in Nevada. The Commission on Mineral Resources’ unanimous decision Thursday in Elko drew criticism from opponents, who say fracking could lead to water contamination, excessive water consumption and earthquake activity. But supporters say the concerns are exaggerated, and they add that oil and gas development resulting from fracking will provide a b... Elko Nev. • A state panel has approved regulations guiding oil and gas exploration companies’ use of hydraulic fracturing, better known as fracking, in Nevada. The Commission on Mineral Resources’ unanimous decision Thursday in Elko drew criticism from opponents, who say fracking could lead to water contamination, excessive water consumption and earthquake activity. But supporters say the concerns are exaggerated, and they add that oil and gas development resulting from fracking will provide a b... <img src="http://mngislctrib.112.2O7.net/b/ss/mngislctrib/1/H.17--NS/0?&pageName=RSS" height="1" width="1" border="0" alt=""/> 58356682@www.sltrib.com Sun, 31 Aug 2014 14:00:03 MDT Incentives states can offer to get $5B Tesla factory http://www.sltrib.com/sltrib/money/58358587-79/tax-tesla-state-million.html.csp Los Angeles • Five states are on the short list for a $5 billion factory that Tesla Motors plans to build so it can crank out batteries for a new generation of electric cars. The package of economic incentives that each state offers will help determine where Tesla builds the factory — Nevada, California, Texas, Arizona or New Mexico. Tesla CEO Elon Musk has said the winning state will shoulder about 10 percent of the total cost, meaning at least $500 million worth of incentives. Tesla already ha... Los Angeles • Five states are on the short list for a $5 billion factory that Tesla Motors plans to build so it can crank out batteries for a new generation of electric cars. The package of economic incentives that each state offers will help determine where Tesla builds the factory — Nevada, California, Texas, Arizona or New Mexico. Tesla CEO Elon Musk has said the winning state will shoulder about 10 percent of the total cost, meaning at least $500 million worth of incentives. Tesla already ha... 58358587@www.sltrib.com Sun, 31 Aug 2014 12:09:01 MDT Cleveland welcomes growing field of server data farms http://www.sltrib.com/sltrib/money/58358572-79/data-cleveland-centers-servers.html.csp Cleveland • Northeast Ohio is hardly ready to usurp Silicon Valley as a high-tech mecca, but a growing number of data centers are choosing to locate in and around Cleveland to take advantage of cheap power, an abundance of fiber-optic cable and one of the safest environments in the country for storing digital information. BYTEGRID, which got its start in northern Virginia, is investing millions to convert a small data center near downtown Cleveland into a large one capable of using enough electr... Cleveland • Northeast Ohio is hardly ready to usurp Silicon Valley as a high-tech mecca, but a growing number of data centers are choosing to locate in and around Cleveland to take advantage of cheap power, an abundance of fiber-optic cable and one of the safest environments in the country for storing digital information. BYTEGRID, which got its start in northern Virginia, is investing millions to convert a small data center near downtown Cleveland into a large one capable of using enough electr... 58358572@www.sltrib.com Sun, 31 Aug 2014 11:51:02 MDT It’s not just Hello Kitty: Japan’s character craze http://www.sltrib.com/sltrib/money/58358475-79/japan-character-characters-bear.html.csp Tokyo • Hello Kitty, whom many learned last week is a girl and not a cat, may be the queen of Japan’s cute characters, but she’s hardly the only one. There are thousands, and they are ubiquitous: Long-time favorite Doraemon (who really is a cat) has a daily quiz in a national newspaper. Little monster Pikachu hosted a theme cafe in Tokyo this summer. Stress-relieving Rilakkuma (“relaxed bear”) dangles from teenage girls’ school bags. Characters are not just for kids in Japan, but a part of busin... Tokyo • Hello Kitty, whom many learned last week is a girl and not a cat, may be the queen of Japan’s cute characters, but she’s hardly the only one. There are thousands, and they are ubiquitous: Long-time favorite Doraemon (who really is a cat) has a daily quiz in a national newspaper. Little monster Pikachu hosted a theme cafe in Tokyo this summer. Stress-relieving Rilakkuma (“relaxed bear”) dangles from teenage girls’ school bags. Characters are not just for kids in Japan, but a part of busin... 58358475@www.sltrib.com Sun, 31 Aug 2014 10:18:19 MDT Feds are investigating Idaho’s Medicaid contractor http://www.sltrib.com/sltrib/money/58352821-79/health-optum-idaho-behavioral.html.csp Boise • Federal officials are investigating a contractor Idaho selected to oversee its Medicaid behavioral health program for possibly violating patient-privacy laws. In a collaborative report from the Idaho Statesman and Boise State Public Radio, health care providers say Optum Idaho sent them patient information that should have gone to other providers. “We have received multiple authorizations for clients that are not ours, [were never ours],” a provider, whose identity was redacted by the Id... Boise • Federal officials are investigating a contractor Idaho selected to oversee its Medicaid behavioral health program for possibly violating patient-privacy laws. In a collaborative report from the Idaho Statesman and Boise State Public Radio, health care providers say Optum Idaho sent them patient information that should have gone to other providers. “We have received multiple authorizations for clients that are not ours, [were never ours],” a provider, whose identity was redacted by the Id... 58352821@www.sltrib.com Fri, 29 Aug 2014 18:13:02 MDT Supply concerns lift palladium to a 13-year high http://www.sltrib.com/sltrib/money/58353133-79/palladium-percent-month-ounce.html.csp New York • Palladium futures jumped to the highest since 2001 as supply concerns mounted amid prospects for further sanctions against Russia, the world’s biggest producer. The U.S. and Europe accuse Russia of escalating the five-month conflict in Ukraine by sending troops over the border to support rebels. An ounce of palladium, which is used mainly in pollution-control devices in cars, bought as much as 0.6383 ounce of platinum in London, the most since August 2002, data compiled by Bloomberg s... New York • Palladium futures jumped to the highest since 2001 as supply concerns mounted amid prospects for further sanctions against Russia, the world’s biggest producer. The U.S. and Europe accuse Russia of escalating the five-month conflict in Ukraine by sending troops over the border to support rebels. An ounce of palladium, which is used mainly in pollution-control devices in cars, bought as much as 0.6383 ounce of platinum in London, the most since August 2002, data compiled by Bloomberg s... 58353133@www.sltrib.com Fri, 29 Aug 2014 17:55:01 MDT Casino hostess banned from contact with ex-clients http://www.sltrib.com/sltrib/money/58353117-79/casino-clients-contact-wong.html.csp Baltimore • A casino hostess accused in a lawsuit of stealing a list of high-rolling clients from a Maryland casino where she used to work has been banned from contacting the customers until further notice. The Maryland Live Casino in Hanover sued Helena Wong, alleging that she used a proprietary list of highly valued customers to attract business to the Horseshoe Casino in Baltimore, where she now works. Wong sent an email earlier this month to roughly 20 Maryland Live customers offering free a... Baltimore • A casino hostess accused in a lawsuit of stealing a list of high-rolling clients from a Maryland casino where she used to work has been banned from contacting the customers until further notice. The Maryland Live Casino in Hanover sued Helena Wong, alleging that she used a proprietary list of highly valued customers to attract business to the Horseshoe Casino in Baltimore, where she now works. Wong sent an email earlier this month to roughly 20 Maryland Live customers offering free a... 58353117@www.sltrib.com Fri, 29 Aug 2014 17:47:02 MDT Julie Jason: Staying the course paid off for 401(K) investors http://www.sltrib.com/sltrib/money/58344414-79/401-percent-2007-2012.html.csp If you participated in a 401(k) plan at work during the financial crisis, you may remember seeing a “60 Minutes” segment highlighting the personal tragedies of 401(k) participants who lost retirement savings. Now, more than five years after the March 2009 market bottom, we have hard data on 401(k) participant returns, recently released by the Investment Company Institute. Employees who continued to participate in their 401(k)s from the end of 2007 through the end of 2012 saw their balances ... If you participated in a 401(k) plan at work during the financial crisis, you may remember seeing a “60 Minutes” segment highlighting the personal tragedies of 401(k) participants who lost retirement savings. Now, more than five years after the March 2009 market bottom, we have hard data on 401(k) participant returns, recently released by the Investment Company Institute. Employees who continued to participate in their 401(k)s from the end of 2007 through the end of 2012 saw their balances ... 58344414@www.sltrib.com Fri, 29 Aug 2014 16:42:01 MDT U.S. subprime crisis stars in Venice film festival http://www.sltrib.com/sltrib/money/58351772-79/venice-film-garfield-director.html.csp Venice, Italy • Florida’s realtors and tourism authorities probably will not be using “99 Homes” in their promotional material. The Sunshine State looks pretty shady in Ramin Bahrani’s Orlando-set drama, one of 20 films competing for prizes at the Venice Film Festival. The movie stars Andrew Garfield as an evicted construction worker who sells his soul to the devil — or at least to Michael Shannon’s reptilian real estate agent — and takes a job evicting other struggling souls to earn enough mone... Venice, Italy • Florida’s realtors and tourism authorities probably will not be using “99 Homes” in their promotional material. The Sunshine State looks pretty shady in Ramin Bahrani’s Orlando-set drama, one of 20 films competing for prizes at the Venice Film Festival. The movie stars Andrew Garfield as an evicted construction worker who sells his soul to the devil — or at least to Michael Shannon’s reptilian real estate agent — and takes a job evicting other struggling souls to earn enough mone... 58351772@www.sltrib.com Fri, 29 Aug 2014 16:42:01 MDT Mexico’s Pemex says production to increase in 2015 http://www.sltrib.com/sltrib/money/58352854-79/mexico-production-says-2015.html.csp Mexico City • Mexico’s state-owned oil company is estimating its crude production will increase to 2.4 million barrels per day in 2015, compared with the 2.35 million barrels per day it expects to output this year. Petroleos Mexicanos official Gustavo Hernandez says the upward estimate is based on the company’s plans to re-activate hundreds of matures oil fields and start production in recently discovered reserves. Hernandez said Friday more than a third of the country’s production will come fro... Mexico City • Mexico’s state-owned oil company is estimating its crude production will increase to 2.4 million barrels per day in 2015, compared with the 2.35 million barrels per day it expects to output this year. Petroleos Mexicanos official Gustavo Hernandez says the upward estimate is based on the company’s plans to re-activate hundreds of matures oil fields and start production in recently discovered reserves. Hernandez said Friday more than a third of the country’s production will come fro... 58352854@www.sltrib.com Fri, 29 Aug 2014 16:25:02 MDT Kraft recalls some American Singles cheese http://www.sltrib.com/sltrib/money/58352818-79/kraft-american-cheese-singles.html.csp Northfield, Ill. • Kraft voluntarily recalled 7,691 cases of its American Singles cheese product Friday because an ingredient was stored improperly by a supplier. The food maker said that, while unlikely, the product may spoil prematurely or cause a food borne illness. Kraft Foods Group Inc., which is based in Northfield, Illinois, said the suppler didn’t keep the ingredient stored in accordance with its temperature standards. The recalled products come in four varieties with “Best When Used By”... Northfield, Ill. • Kraft voluntarily recalled 7,691 cases of its American Singles cheese product Friday because an ingredient was stored improperly by a supplier. The food maker said that, while unlikely, the product may spoil prematurely or cause a food borne illness. Kraft Foods Group Inc., which is based in Northfield, Illinois, said the suppler didn’t keep the ingredient stored in accordance with its temperature standards. The recalled products come in four varieties with “Best When Used By”... 58352818@www.sltrib.com Fri, 29 Aug 2014 16:13:02 MDT Recalls this week: helmets, swim jackets, bunk beds http://www.sltrib.com/sltrib/money/58352762-79/com-beds-bunk-incidents.html.csp Nearly 6 million laptop power cords that can overheat and start a fire are among this week’s recalled consumer products. Others include potentially faulty helmets and bunk beds. Here’s a more detailed view: HELMETS DETAILS: NRS Chaos Side Cut helmets used for water sports, such as rafting, kayaking, stand-up paddling and canoeing. They were sold, for about $60, at Collinsville Canoe & Kayak Store, NRS, Outdoorplay, REI and other sport equipment stores around the country and online at nrs.com and... Nearly 6 million laptop power cords that can overheat and start a fire are among this week’s recalled consumer products. Others include potentially faulty helmets and bunk beds. Here’s a more detailed view: HELMETS DETAILS: NRS Chaos Side Cut helmets used for water sports, such as rafting, kayaking, stand-up paddling and canoeing. They were sold, for about $60, at Collinsville Canoe & Kayak Store, NRS, Outdoorplay, REI and other sport equipment stores around the country and online at nrs.com and... 58352762@www.sltrib.com Fri, 29 Aug 2014 16:02:02 MDT Ecuador heralds plans for a digital currency http://www.sltrib.com/sltrib/money/58352748-79/currency-ecuador-money-bank.html.csp Quito • Ecuador is planning to create what it calls the world’s first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country’s existing currency, the U.S. dollar. The electronic money, which Central Bank officials say they expect will start circulating in December, does not have a name and officials would not disclose technical details, though they said it would not be a crypto-currency like Bitcoin. The amount of the new curren... Quito • Ecuador is planning to create what it calls the world’s first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country’s existing currency, the U.S. dollar. The electronic money, which Central Bank officials say they expect will start circulating in December, does not have a name and officials would not disclose technical details, though they said it would not be a crypto-currency like Bitcoin. The amount of the new curren... 58352748@www.sltrib.com Fri, 29 Aug 2014 15:55:02 MDT Washington judge upholds local pot business ban http://www.sltrib.com/sltrib/money/58352730-79/state-pot-ban-law.html.csp Tacoma • A state judge said Friday that a small city can continue to ban state-licensed marijuana businesses, in a case with big implications for Washington’s experiment in legal pot. Pierce County Superior Court Judge Ronald Culpepper issued the ruling after extensive arguments over whether Initiative 502, the voter-approved state law that legalizes adults’ recreational use of marijuana, left any room for such local bans. The case concerned a ban in the Tacoma suburb of Fife. Would-be pot propr... Tacoma • A state judge said Friday that a small city can continue to ban state-licensed marijuana businesses, in a case with big implications for Washington’s experiment in legal pot. Pierce County Superior Court Judge Ronald Culpepper issued the ruling after extensive arguments over whether Initiative 502, the voter-approved state law that legalizes adults’ recreational use of marijuana, left any room for such local bans. The case concerned a ban in the Tacoma suburb of Fife. Would-be pot propr... 58352730@www.sltrib.com Fri, 29 Aug 2014 15:47:02 MDT IMF board expresses confidence in Lagarde http://www.sltrib.com/sltrib/money/58352713-79/board-lagarde-french-imf.html.csp Washington • The International Monetary Fund’s executive board expressed confidence Friday in IMF Managing Director Christine Lagarde after receiving a briefing on a French corruption probe in which she is being investigated. In a brief statement, the 24-member board said it continues to have “confidence in the managing director’s ability to effectively carry out her duties.” Lagarde called the investigation “without basis” after answering questions before magistrates in Paris on Wednesday. She ... Washington • The International Monetary Fund’s executive board expressed confidence Friday in IMF Managing Director Christine Lagarde after receiving a briefing on a French corruption probe in which she is being investigated. In a brief statement, the 24-member board said it continues to have “confidence in the managing director’s ability to effectively carry out her duties.” Lagarde called the investigation “without basis” after answering questions before magistrates in Paris on Wednesday. She ... 58352713@www.sltrib.com Fri, 29 Aug 2014 15:42:01 MDT As stocks rise, so does anxiety: Time to get out? http://www.sltrib.com/sltrib/money/58351798-79/stocks-companies-percent-rates.html.csp New York • Is it time to cash out of stocks? The market has nearly tripled in a little over five years, and the Standard & Poor’s 500 index closed above 2,000 for the first time on Tuesday. With each record, the temptation grows to take your winnings and flee. Plenty of experts think stocks are about to drop. But many others offer compelling arguments for the rally to continue for years. The bulls point to a strengthening U.S. economy. They also like that companies have plenty of money to keep b... New York • Is it time to cash out of stocks? The market has nearly tripled in a little over five years, and the Standard & Poor’s 500 index closed above 2,000 for the first time on Tuesday. With each record, the temptation grows to take your winnings and flee. Plenty of experts think stocks are about to drop. But many others offer compelling arguments for the rally to continue for years. The bulls point to a strengthening U.S. economy. They also like that companies have plenty of money to keep b... 58351798@www.sltrib.com Fri, 29 Aug 2014 12:54:02 MDT Tablet growth has been stalling in U.S. and Europe http://www.sltrib.com/sltrib/money/58352086-79/percent-europe-growth-idc.html.csp San Francisco • Tablet computer shipments will stall in North America and Western Europe this year, causing IDC Corp. to lower its forecast for worldwide growth by almost half. The market researcher is now predicting that the number of tablets shipped will rise 6.5 percent to 233.1 million in 2014, down from an earlier forecast of 12.1 percent. IDC expects no growth for North America and Western Europe after a 25 percent jump last year for the regions. The new estimate highlights the pressure on... San Francisco • Tablet computer shipments will stall in North America and Western Europe this year, causing IDC Corp. to lower its forecast for worldwide growth by almost half. The market researcher is now predicting that the number of tablets shipped will rise 6.5 percent to 233.1 million in 2014, down from an earlier forecast of 12.1 percent. IDC expects no growth for North America and Western Europe after a 25 percent jump last year for the regions. The new estimate highlights the pressure on... 58352086@www.sltrib.com Fri, 29 Aug 2014 12:40:02 MDT U.S. official airs ‘myths’ on Colorado River water http://www.sltrib.com/sltrib/money/58352079-79/castle-colorado-river-million.html.csp Las Vegas • A top federal water administrator said Friday that several myths stand in the way of broad agreements needed to deal with increasing demand for water in the drought-stricken and over-allocated Colorado River basin. Assistant Secretary of the Interior Anne Castle told the “Business of Water” conference in Las Vegas that there’s no one-step way to avoid the possibility of cuts in water deliveries in the next few years to states including Arizona and Nevada. With the crucial Lake Mead r... Las Vegas • A top federal water administrator said Friday that several myths stand in the way of broad agreements needed to deal with increasing demand for water in the drought-stricken and over-allocated Colorado River basin. Assistant Secretary of the Interior Anne Castle told the “Business of Water” conference in Las Vegas that there’s no one-step way to avoid the possibility of cuts in water deliveries in the next few years to states including Arizona and Nevada. With the crucial Lake Mead r... 58352079@www.sltrib.com Fri, 29 Aug 2014 12:36:01 MDT Crested Butte OKs Bud Light ‘Whatever’ promotion http://www.sltrib.com/sltrib/money/58352059-79/town-bud-butte-crested.html.csp Denver • Leaders in the historic Colorado mining town of Crested Butte have unanimously approved a plan to turn it into the fictional “Whatever” town for a Bud Light ad campaign. Town councilors only gave their OK only after Bud Light maker Anheuser-Busch InBev doubled its payment to $500,000. The Denver Post reports fencing already has been installed for the Sept. 5-7 event that has divided the town. The beer company has been working with town officials on the plan since the spring, but word on... Denver • Leaders in the historic Colorado mining town of Crested Butte have unanimously approved a plan to turn it into the fictional “Whatever” town for a Bud Light ad campaign. Town councilors only gave their OK only after Bud Light maker Anheuser-Busch InBev doubled its payment to $500,000. The Denver Post reports fencing already has been installed for the Sept. 5-7 event that has divided the town. The beer company has been working with town officials on the plan since the spring, but word on... 58352059@www.sltrib.com Fri, 29 Aug 2014 12:33:01 MDT Hershey takes wraps off new corporate logo http://www.sltrib.com/sltrib/money/58352047-79/hershey-company-corporate-logo.html.csp Hershey, Pa. • The Hershey Company is rolling out a new corporate logo that features a stylized version of one of its most famous chocolate products. The candy maker on Friday announced the new design, which adds a Kisses chocolate at the end of the company’s name. It’s part of what the company calls a “disciplined identity system” designed to provide more consistency. Based in central Pennsylvania, The Hershey Company has about 13,000 employees and generates more than $7 billion in annual sales... Hershey, Pa. • The Hershey Company is rolling out a new corporate logo that features a stylized version of one of its most famous chocolate products. The candy maker on Friday announced the new design, which adds a Kisses chocolate at the end of the company’s name. It’s part of what the company calls a “disciplined identity system” designed to provide more consistency. Based in central Pennsylvania, The Hershey Company has about 13,000 employees and generates more than $7 billion in annual sales... 58352047@www.sltrib.com Fri, 29 Aug 2014 12:27:02 MDT