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WALL STREET
Better news on the US economy drives stocks higher
NEW YORK (AP) — Encouraged by an increase in manufacturing and a rise in a key index of economic indicators, investors are pushing the stock market indexes higher.
The S&P 500 rose 11 points to 1,872 yesterday The Dow gained 109 points to 16,331. And the Nasdaq climbed 12 points to 4,319.
The market had slumped on Tuesday, when Federal Reserve Chair Janet Yellen suggested that the central bank could start raising interest rates sooner than many investors had expected.
The market turned higher in midmorning trading yesterday following news that a measure of the U.S. economy's health rose in February by the largest amount in three months. The Conference Board's index of leading indicators increased 0.5 percent following a slight 0.1 percent rise in January and a 0.1 percent decline in December.
The Federal Reserve Bank of Philadelphia said separately that manufacturing rebounded in that region in March as new orders increased.
Not much economic news is expected today, although luxury retailer Tiffany reports quarterly financial results before the market opens.
WORLD MARKETS
Asian markets bounce on upbeat US economic data
HONG KONG (AP) — Asian stock markets rebounded today as upbeat U.S. economic data helped shake off worries about future increases in U.S. interest rates.
Trading was subdued as Japanese markets were closed for a public holiday.
The Conference Board index of leading indicators, a measure of U.S. economic health, rose in February by the largest amount in three months, suggesting growth should bounce back following a harsh winter.
The numbers helped to perk up stocks after Federal Reserve chief Janet Yellen unsettled investors by suggesting earlier this week that U.S. interest rates could rise sooner than markets were anticipating.
The dollar slipped against the euro and the yen.
Benchmark crude oil fell to near $98.50 a barrel.
EU-TAX EVASION
EU nations agree on rules to fight tax evasion
BRUSSELS (AP) — European Union nations have agreed on a sweeping policy to fight tax evasion after tiny Luxembourg dropped its reservations to new rules which render its secretive banking culture more transparent.
Luxembourg Prime Minister Xavier Bettel confirmed at Thursday's summit of EU leaders "the willingness of the government to take that road," a key step to scrap the banking secrecy for foreigners.
EU President Herman Van Rompuy said the move was "indispensable for enabling the member states to better clamp down on tax fraud and tax evasion."
The legislation proposes an EU-wide automatic exchange of data on bank deposits to allow governments to identify and pursue tax evaders.
UKRAINE-DIPLOMACY
EU targets Putin's inner circle, scraps summit
BRUSSELS (AP) — The European Union has slapped sanctions on 12 more people linked to Russia's annexation of Crimea from Ukraine, bringing the number of people facing EU sanctions to 33.
The 28-nation bloc did not immediately release the names of those it had targeted Thursday with travel bans and asset freezes, but they are expected to close in on members of President Vladimir Putin's inner circle to punish him in the escalating Ukrainian crisis.
Earlier in the day, the EU leaders also announced plans to scrap a scheduled EU-Russia summit in June as part of the intensifying standoff over Ukraine, which has turned into one of the biggest political crises in Europe since the Cold War.
GENERAL MOTORS-RECALLS-CONGRESS
GM CEO Barra to testify at House hearing on recall
WASHINGTON (AP) — General Motors Co. CEO Mary Barra will testify next month at a hearing by a House panel investigating the delayed recall of 1.6 million small GM cars.
The investigative panel of the House Energy and Commerce Committee will hear Barra's testimony on April 1. The head of the National Highway Traffic Safety Administration, David Friedman, has been invited to testify the same day.
The committee announced it Thursday.
This week Barra apologized for deaths linked to the delayed recall. She says GM took too long to tell owners to take their cars in for repairs of a defect involving ignition switches. She also named a new head of global safety.
The Department of Justice is investigating whether any laws were broken in the way Detroit-based GM handled the recall.
JAPAN-BITCOIN
Mt. Gox finds 200,000 of its missing bitcoins
TOKYO (AP) — Bankrupt bitcoin exchange Mt. Gox says it found 200,000 bitcoins, which were previously thought stolen, in disused electronic wallets. Another 650,000 bitcoins still remain unaccounted for.
The Tokyo-based company says in a statement posted on its website Thursday that the 200,000 bitcoins were identified Mar. 7 after "old format" wallets were searched as part of Mt. Gox's bankruptcy proceedings.
The online exchange for the virtual currency was unplugged in late February as rumors of its insolvency swirled, adding to doubts about the viability of bitcoins overall.
It then filed for bankruptcy protection in Tokyo and said about 850,000 bitcoins were missing, most likely as a result of theft.
At current prices, the rediscovered bitcoins have a market value of about $120 million.
MICROSOFT-PRIVACY
Microsoft says it snooped on Hotmail to track leak
LOS ANGELES (AP) — Microsoft has skewered rival Google for going through customer emails to deliver ads, but it's acknowledging that it searched a blogger's Hotmail account to track down who was leaking company secrets.
John Frank, deputy general counsel for Hotmail's owner, Microsoft, said in a statement Thursday that the company "took extraordinary actions in this case." He says that in future, Microsoft would consult a former judge to determine if a court order would have allowed such a search.
The case involves former employee Alex Kibkalo, a Russian native who worked for Microsoft Corp. in Lebanon.
According to an FBI complaint against Kibkalo filed in federal court in Seattle on Monday, Microsoft found him in September 2012 after examining the Hotmail account of the blogger with whom Kibkalo allegedly shared proprietary Microsoft code.
TURKEY-TWITTER
Turkey blocks access to Twitter
ANKARA, Turkey (AP) — Turkey restricted access to Twitter today hours after Prime Minister Recep Tayyip Erdogan threatened to "root out" the social media network where wiretapped recordings have been leaked, damaging the government's reputation ahead key local elections this month.
Many users trying to access the network early on Friday were confronted with a notice from Turkey's telecommunications authority, citing court orders for the site's apparent closure.
Twitter spokesman Nu Wexler said the company was "looking into this now," without saying whether an outage had occurred in the country.
Twitter's @policy account earlier sent out messages telling Turkish users in both English and Turkish they could send out tweets by using short message service, or "SMS." It was unclear if tweets sent this way would be viewable within the country.
European Commission Vice President Neelie Kroes criticized the ban on her Twitter account as "groundless, pointless, cowardly."
NSA-SURVEILLANCE
Google enhances encryption technology for email
WASHINGTON (AP) — Google says it's improved the encryption technology for its flagship email service.
The change will make it harder for the National Security Agency to intercept messages moving among the company's worldwide data centers.
Among the most extraordinary disclosures in documents leaked by former NSA systems analyst Edward Snowden were reports that the NSA had secretly tapped into the main communications links that connect Yahoo and Google data centers around the world.
Google has previously said it was outraged over the practice. It didn't mention the NSA in Thursday's announcement, except in a veiled reference to what it called "last summer's revelations."
SYMANTEC-PERSONNEL
Symantec says it terminated CEO Steve Bennett
NEW YORK (AP) — Security software maker Symantec says it terminated President and CEO Steve Bennett's employment and named director Michael Brown as his temporary replacement.
Bennett had been president and CEO of the company since July 2012, and Symantec says he resigned from the board of directors after his termination. The Mountain View, Calif., company did not cite a precise reason for Bennett's ouster.
"This considered decision was the result of an ongoing deliberative process, and not precipitated by any event or impropriety," Symantec Chairman Dan Schulman said in a press release.
Brown has been with the company since July 2005, and he is a former chairman and CEO of Quantum Corp.
Symantec Corp. shares fell $1.58, or 7.5 percent, to $19.33 in aftermarket trading.
CALIFORNIA WINDSTORM-PENALTY
$24.5M penalty proposed for Edison over windstorm
LOS ANGELES (AP) — California regulators have proposed a $24.5 million penalty for Southern California Edison after a 2011 windstorm that left more than 400,000 without power and an incident in which three people were electrocuted.
The proposed penalty the staff of the California Public Utilities Commission announced Thursday goes to a public comment period before the commission's board votes on it.
The commission says the utility has agreed to pay the proposed penalty. Phone and email messages left for Edison officials were not immediately returned.
The CPUC says Edison gave inaccurate information on power restoration and violated safety standards during the 2011 windstorm that left 440,000 customers without power. In a separate incident, the utility was blamed for a conductor that fell to the ground and killed a man, his wife and their son.
COAL ASH SPILL-NORTH CAROLINA
Regulators say Duke pumped coal ash into NC river
CHARLOTTE, N.C. (AP) — North Carolina regulators say Duke Energy illegally pumped 61 million gallons of contaminated coal ash into the Cape Fear River, marking the eighth time in less than a month the nation's largest electricity company has been cited for environmental violations.
State Department of Environment and Natural Resources spokesman Jamie Kritzer said Thursday that Duke violated the terms of its wastewater permit for its Cape Fear Plant. The agency issued Duke a notice of violation, which could result in hefty fines.
State officials also said Thursday that there is a crack in the earthen dike holding back the coal ash, though it does not appear to be in danger of collapse.
A Feb. 2 collapse at a Duke dump in Eden coated 70 miles of the Dan River with toxic sludge.
FOOTBALL HELMET LAWSUIT
LA jury: Helmet maker not liable for player injury
LOS ANGELES (AP) — A Los Angeles jury has decided helmet maker Riddell Inc. isn't liable for the severe brain injury of a high school football player who suffered a helmet-to-helmet hit during a game.
The Los Angeles Times reports the jury deliberated for less than 30 minutes before deciding that the Riddell Revolution helmet he was wearing could not have been expected to prevent Edward Acuna's injury. He was left partially paralyzed and brain damaged.
Acuna was 17 when was hit on the field while playing for Garey High in Pomona four years ago.
His attorneys argued that the technology exists to make better helmets that might have helped him.
Illinois-based Riddell is also being sued by four NFL players who claim the company helped the league hide information about brain injuries.
BOOKS-BOB WOODWARD
No new Bob Woodward book coming this fall
NEW YORK (AP) — A publishing fixture will be missing from this fall's election season: A new Bob Woodward book.
Simon & Schuster spokeswoman Julia Prosser said Thursday no new Woodward book is expected this year. Woodward's best-selling, insider White House accounts had appeared regularly for more than a decade in even-numbered years — major election years. Prosser says Woodward is writing a new book but declines to offer details.
Woodward will be involved in a book project this summer. To mark the 40th anniversary of President Richard Nixon's resignation, he and former Washington Post colleague Carl Bernstein co-wrote an afterword for a reissue of their classic "All the President's Men," based on their Pulitzer Prize-winning reporting of the Watergate scandal.
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