AP Business NewsBrief at 8:06 a.m. EST
(Associated Press Via Acquire Media NewsEdge) FAA to review of Boeing 787, but calls plane safeWASHINGTON (AP) _ The government stepped in Friday to assure the public that Boeing's new 787 "Dreamliner" is safe to fly, even as it launched a comprehensive review to find out what caused a fire, a fuel leak and other worrisome incidents this week. Despite the incidents, Transportation Secretary Ray LaHood declared, "I believe this plane is safe, and I would have absolutely no reservations about boarding one of these planes and taking a flight." Administrator Michael Huerta of the Federal Aviation Administration said his agency has seen no data suggesting the plane isn't safe but wanted the review to find out why safety-related incidents were occurring.
Why Boeing's 787, the Dreamliner, is under reviewNEW YORK (AP) _ Boeing's 787 Dreamliner had a nightmare of a week, capped off Friday by the Federal Aviation Administration's decision to review everything about the new airplane, including its entire design and manufacturing process. Government officials were quick to say that the jet is safe _ nearly 50 of them are in the skies. However, a fire Monday and a subsequent spate of technical problems stirred serious concerns.
Washington state bank closes; first failure of '13WASHINGTON (AP) _ U.S. regulators on Friday closed a small lender in Washington state, making it the first bank failure of 2013 following 51 closures last year. The Federal Deposit Insurance Corp. seized Westside Community Bank, based in University Place, Wash., and Sunwest Bank, based in Irvine, Calif., agreed to assume all of the failed lender's deposits and buy essentially all of its assets.
Hostess to sell Wonder bread to maker of TastykakeNEW YORK (AP) _ Hostess has found a new home for its most popular breads, including the iconic Wonder bread. The bankrupt maker of Twinkies, Devil Dogs and other snack cakes said late Friday that it selected bids by rival bakery Flower Foods Inc. to buy six of its bread brands for $390 million. Flower Foods, based in Thomasville, Ga., is best known for Tastykakes but also makes breads including Nature's Own and Cobblestone Mill.
More money, time needed to remove Concordia wreckGIGLIO, Italy (AP) _ Officials say more time and money will be needed to safely remove the Costa Concordia cruise ship from the rocks off Tuscany where it capsized last year. On the eve of the first anniversary of the grounding, officials on Saturday stressed the unprecedented nature of the removal given the massive size of the ship _ 112,000 tons _ its precarious perch on the rocks off Giglio island's port and the delicate marine environment they are trying to preserve.
Stocks gain for second week, keeping S&P near highNEW YORK (AP) _ Stocks gained for a second straight week as company earnings reports started to come in, keeping the Standard and Poor's 500 index within a fraction of its highest level in five years. The S&P 500 was little changed Friday, and gained 5 points in the week to close at 1,472.05. The index is a fraction below its close of 1,472.12 Thursday, its highest level since December 2007.
Can Europe's markets climb through the slump NEW YORK (AP) _ The big worry a year ago was that Greece would collapse under its debts, upend Europe's markets and set off a global financial crisis. But the world's most dangerous bond market turned out to be one of the world's best bets last year: Greece's government bonds soared 97 percent as the debt crisis eased. Across Europe, many of the region's stock markets outpaced those in the U.S. "It has been a great investment opportunity, because a year ago at this time Europe was a big mess," said Geoffrey Pazzanese, who manages an international stock fund at Federated Investors.
Judge: Tully's Coffee to go to Dempsey's groupSEATTLE (AP) _ The auction for the beleaguered Tully's Coffee chain concluded Friday in federal bankruptcy court, with a judge approving the sale to an ownership group led by actor Patrick Dempsey. Dempsey _ dubbed "McDreamy" in the hospital drama "Grey's Anatomy" _ had claimed victory last week after bidding concluded, but a company that teamed up with Starbucks to make an offer for Tully's filed an objection.
Flu season puts businesses and employees in a bindWASHINGTON (AP) _ Nearly half the 70 employees at a Ford dealership in Clarksville, Ind., have been out sick at some point in the past month. It didn't have to be that way, the boss says. "If people had stayed home in the first place, a lot of times that spread wouldn't have happened," says Marty Book, a vice president at Carriage Ford. "But people really want to get out and do their jobs, and sometimes that's a detriment."
Microsoft may have exited gadget show prematurelyLAS VEGAS (AP) _ Microsoft may have relinquished its starring role in America's gaudiest gadget show a year too early. After 13 straight years in the spotlight, Microsoft's decision to scale back its presence at this week's International CES deprived the software maker of a prime opportunity to explain and promote a new generation of redesigned computers running its radically remade Windows operating system.
(c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
[ Back To Technology News's Homepage ]