AP Business NewsBrief at 3:52 p.m. EST
(Associated Press Via Acquire Media NewsEdge) Mayor: NYC soda decision just 'temporary setback'NEW YORK (AP) _ Eateries from corner delis to movie concession stands have gotten a last-minute reprieve from the nation's first ban on big sugary drinks. But Mayor Michael Bloomberg is urging them to shrink their cups and bottles anyway. After a judge struck down the 16-ounce size limit for sodas and some other sweet drinks as arbitrary and outside city health regulators' purview, Bloomberg defended it Tuesday as a groundbreaking anti-obesity effort that would prevail on appeal and is already beginning to change attitudes and actual practices.
Leap jumps to capture next step in motion controlAUSTIN, Texas (AP) _ In a bustling tent set up in a parking lot here at the South By Southwest Interactive Festival, people are pointing their hands and gesturing with chopsticks as they guide various actions on a dozen computer screens. Some of the sharpest minds in technology have gathered in Austin, Texas, to ponder the ever-connected nature of the modern world. A big theme this year focuses on how to create more seamless interactions between people and technology, finding ways to control devices that go beyond mice, trackpads and touchscreens.
FCC approves T-Mobile-MetroPCS dealNEW YORK (AP) _ The Federal Communications Commission on Tuesday approved the merger of T-Mobile USA and MetroPCS Communications Inc., the No. 4 and No. 5 cellphone carriers in the country. The Justice Department cleared the merger last week, meaning that the last hurdle will be a vote by MetroPCS shareholders, who convene in a month. Regulatory approval of the deal was expected. The FCC applied no significant conditions to its approval.
Stocks waver after seven straight gainsNEW YORK (AP) _ Stocks wavered on Wall Street Tuesday, threatening to halt a seven-day rally. The Dow Jones industrial average one point, or 0.01 percent, to 14,448 as of 3:31 p.m. EDT. The index wavered between small gains and losses for most of the day.
Oil rises for 4th day, eyes on supply reportsThe price of oil rose for a fourth straight day Tuesday as traders awaited the latest reports on U.S. oil supplies and retail sales. Benchmark oil for April delivery gained 48 cents to finish at $92.54 per barrel in New York. .
Drugmakers, Interpol ramp up fight against fakesMore than two dozen of the world's largest pharmaceutical companies have agreed to provide funding and other support to Interpol's battle against counterfeit prescription drugs, the international police agency said Tuesday. Interpol's newly created Pharmaceutical Crime Program aims to help health agencies, police and customs bureaus in countries around the globe stem the supply of bogus brand-name and generic medicines, as well as identify and dismantle the organized crime rings distributing them.
Cash continues to surge into mutual fundsBOSTON (AP) _ The newfound confidence that investors showed at the start of the year held up through February. Stock mutual funds continued to attract cash, although at a slower pace than in January. Bond funds also drew new money, putting the industry on track to potentially set a quarterly record for overall fund flows.
GOP budget takes aim again at Obamacare, MedicaidWASHINGTON (AP) _ House Republicans unveiled their latest budget outline on Tuesday, sticking to their plans to try to repeal so-called Obamacare, cut domestic programs ranging from Medicaid to college grants and require future Medicare patients to bear more of the program's cost. The GOP plan came as President Barack Obama traveled to Capitol Hill to meet with Senate Democrats on the budget and a broad range of other proposals that are part of his second-term agenda. The president has launched a new outreach to rank-and-file Republicans, and his Hill visit is one of several planned with lawmakers of both parties this week.
FDA head says menu labeling 'thorny' issueWASHINGTON (AP) _ Diners will have to wait a little longer to find calorie counts on most restaurant chain menus, in supermarkets and on vending machines. Writing a new menu labeling law "has gotten extremely thorny," says the head of the Food and Drug Administration, as the agency tries to figure out who should be covered by it.
Pentagon forming cyber teams to prevent attacksWASHINGTON (AP) _ The Defense Department is establishing a series of cyber teams charged with carrying out offensive operations to combat the threat of an electronic assault on the United States that could cause major damage and disruption to the country's vital infrastructure, a senior military official said Tuesday. Gen. Keith Alexander, the top officer at U.S. Cyber Command, warned during testimony that the potential for an attack against the nation's electric grid and other essential systems is real and more aggressive steps need to be taken by the federal government and the private sector in order to improve digital defenses.
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