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Workers escape large garage collapse in California

LOS ANGELES -- A portion of a parking garage being built to house buses in downtown Los Angeles collapsed on Friday, just minutes after nearly 200 construction workers were alerted that something was wrong and fled to safety, officials said.

A section of the structure measuring about 50 by 75 feet came crashing down just before 9 a.m. in the heavily congested area.

Minutes earlier, 180 people had been working on the structure, said Metropolitan Transportation Authority spokesman Marc Littman.

"Workers were pouring concrete in the upper parking deck of the northeast corner of the building," Littman said. "During construction we had pour watchers from below notice something was amiss. They immediately alerted workers to clear the area."

A few minutes later, the structure's second story, where 10 people had been working, collapsed onto the first level.

A Los Angeles Fire Department search and rescue team found no one trapped amid the rubble.

"Fortunately we have heard that all workers have been accounted for," Fire Department spokesman Erik Scott said.

Littman said construction was halted while investigators try to determine what caused the collapse.

"No work will be resumed until a thorough investigation is conducted by Metro, the contractor and the design firm," he said.

He noted that concrete had previously been poured without any problems as several other sections of the sprawling structure were built.

Traffic was briefly snarled when the building fell.

The garage is part of a complex that will include a bus yard housing as many as 200 transit vehicles. It will also accommodate 500 employees.

"This is where you store buses, work on buses, clean buses and dispatch buses to various locations," Littman said.

The construction site is adjacent to the west side of the Los Angeles River, near county jails and a transit plaza.

The project, which stretches across three blocks, has been under construction since 2012. It's due to be completed in January.

GM's Opel unit to pull out of China

BERLIN -- General Motors Co.'s Opel unit will end its small presence in the Chinese market — a decision its chief executive describes as long-overdue.

GM's struggling European subsidiary said Friday its sales in China will end next January. The company says 22 Opel dealers in China last year sold 4,365 vehicles — a tiny fraction of the 810,000 sold by GM's Buick brand.

Opel CEO Karl-Thomas Neumann says "it would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network."

Opel also plans to invest 245 million euros ($337 million) in its main German plant, Ruesselsheim. It plans to build an additional Opel model there as well as a future model to be sold as a Buick in the U.S.

Pilots at American Eagle reject contract offer

DALLAS -- Pilots at regional airline American Eagle are rejecting a contract proposal that they say freezes their pay and cuts health-insurance benefits.

About 70 percent of the pilots voting turned down the offer, the Air Line Pilots Association said Friday.

Eagle's parent company also owns American Airlines, and it has threatened to farm out Eagle's planes to other regional carriers.

Regionals operate smaller planes that often fly on secondary routes and connect passengers to big hub airports that are served by so-called mainline airlines such as American, United and Delta.

Regional airlines are reporting a shortage of pilots. The union says the airlines need to raise pay to attract more pilots.

Jobs picture brightens in Louisiana in February

Louisiana's unemployment rate fell to 4.5 percent in February, hitting the lowest level since July 2008.

The number of people who told surveyors they had a job hit a new record for the fifth month in a row, approaching 2 million.

A separate survey shows payrolls were grew slightly from January to February, but remained below the record levels of late 2013. Both sets of figures — adjusted to cancel out normal seasonal changes — were released Friday by the U.S. Department of Labor.

Louisiana's unemployment rate was 4.9 percent in January and 6.4 percent in February 2013.

Total unemployed Louisianans fell below 100,000 — for the first time since August 2008 — hitting 95,000 in February. That's down from almost 103,000 in January and 134,000 in February 2013.

Rhode Island again had the worst jobless rate among the states at 9 percent, while North Dakota was again lowest at 2.6 percent. Unemployment rates fell in 29 states, were flat in 11 states and rose in 10. The Labor Department said Friday that payroll employment rose in 33 states and fell in 17 states.

The national unemployment rate rose to 6.7 percent in February from 6.6 percent in January. It was also below the 7.7 percent level of February 2013.

The unemployment rate is calculated by a survey that asks how many people are looking for a job. A second survey each month asks employers how many people are on their payrolls, a measure many economists use as their top labor market indicator.

Louisiana's nonfarm payrolls rose to 1.96 million people in February, up 2,000 from January and 10,000 higher than a year ago. However that's down almost 10,000 than the record-high level seen in October. Louisiana has seen three years of strong payroll growth, with payrolls rising more than 4 percent during that time, outstripping the number of jobs lost during the recession.

Payrolls rose in economic sectors including financial activities, professional and business services, education and health services, and leisure and hospitality. They fell in trade, transportation and utilities; construction and manufacturing. Government payrolls were flat.

The broadest measure of those who are unemployed averaged 12.7 percent in Louisiana during 2013, the most recent figures available. That rate includes not only those counted as jobless in the standard survey, but also people who are looking for work only sporadically, have given up looking, or are working part time because they can't find a full-time job.

Nationwide, that broad measure averaged 13.8 percent during the same time.

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Online:

State unemployment report: http://1.usa.gov/104hKGL

Fandango, Credit Karma in security-flaw settlement

The Federal Trade Commission says the mobile apps of movie ticket seller Fandango and credit report provider Credit Karma may have exposed millions of users' sensitive personal information, including credit card data and social security numbers.

The FTC said Friday that the companies failed to properly secure their apps for several years, potentially exposing information users sent or received through the apps.

Fandango and Credit Karma fixed the security issue last year. The companies say they are not aware of any individual's information being stolen. The FTC says that would be difficult to trace.

Fandango, owned by cable provider Comcast Corp., and Credit Karma agreed to settle the FTC's charges.

SC unemployment drops to 5.7 percent in February

COLUMBIA, S.C. -- South Carolina's unemployment rate fell to 5.7 percent in February, marking the steepest one-month drop recorded since officials started keeping track of employment numbers almost 40 years ago.

The Department of Employment and Workforce said Friday that the drop, down from 6.4 percent the previous month, also marked the ninth straight month that unemployment has dropped in South Carolina.

Nationally, the unemployment rate was 6.7 percent in February, something officials attributed to more people entering the job market to look for work.

Officials said it was the first time in 16 years that the South Carolina unemployment rate has been a full point below the national rate.

"South Carolina's economy continues to grow. Businesses are confident and have hired more South Carolinians than ever before," said Cheryl Stanton, the executive director of the Department of Employment and Workforce.

The department said employment in the state reached 2,039,455, the highest number ever recorded. The number of unemployed dropped by almost 14,000.

There are now about 124,000 people unemployed in South Carolina, which has a population of almost 4.8 million, according to new U.S. Census Bureau figures released this week.

The financial activities, government and manufacturing sectors went up last month by about 1,600 jobs. Jobs in trade, education and health services and hospitality sectors were down by 5,300.

But while jobs in hospitality were down on a monthly basis, there were 7,700 more people working in the industry in South Carolina than a year ago. That increase led all job sectors during the past year. Tourism is an $18 billion industry in South Carolina.

There were also 5,900 more people working in trade transportation and utilities and 4,700 more working in manufacturing last month than in February of 2013.

Israeli soldiers toss grenade at Lebanese shepherds

BEIRUT: An Israeli military unit tossed a stun grenade in the direction of two Lebanese shepherds in the Wazzani border area, the Lebanese Army said.

In a statement, the Army said no casualties were reported in the incident which occurred at 8:05 a.m.

Army units promptly dispatched patrols along the border region in coordination with the U.N. Interim Force in Lebanon.

Maronite figures meet Rai in Bkirki

BEIRUT: Three Maronite political figures Friday met with Cardinal Beshara Rai in Bkirki, the seat of the Maronite Church.

Head of the Free Patriotic Movement MP Michel Aoun, head of the Kataeb party former President Amine Gemayel and MP Suleiman Franjieh, head of the Marada Movement, met with Rai.

Media reports said Lebanese Forces leader Samir Geagea did not attend the meeting for security reasons.

The meeting comes days after Lebanon entered the two-month constitutional period for Parliament to elect a new president, during which the speaker is expected to convene the Parliament to nominate a candidate for the post.

President Michel Sleiman's six-year term ends on May 25.

A committee of lawmakers from Speaker Nabih Berri’s parliamentary bloc have so far held consultations with Geagea, Aoun and Gemayel over the spring election. The committee is expected to hold talks with the various political factions.

Rai has urged Berri to hold a legislative session as soon as possible so that MPs can begin voting on a new president.

Speaking after his meeting with the committee, Geagea told reporters that Berri would schedule a legislative session in accordance with the results of the committee meetings.

Business events scheduled for the coming month

TUESDAY, April 1

WASHINGTON — Institute for Supply Management releases its manufacturing index for March, 10 a.m.; Commerce Department releases construction spending for February, 10 a.m.; General Motors CEO Mary Barra testifies about auto recalls during a hearing before a House Energy and Commerce subcommittee.

DETROIT — Automakers release vehicle sales for March.

BERLIN — Germany's Federal Labor Agency releases March unemployment figures for Europe's biggest economy.

BRUSSELS — Unemployment is expected to remain near a record high for the eurozone when the Eurostat agency releases its latest estimates on Tuesday.

TOKYO — Japan economic outlook from BOJ. Coincides with sales tax hike.

WEDNESDAY, April 2

WASHINGTON — Commerce Department releases factory orders for February, 10 a.m.; Senate Judiciary Committee hearing on the proposed Comcast-Time Warner Cable merger.

Monsanto Co. reports quarterly financial results before the market opens.

THURSDAY, April 3

WASHINGTON — Labor Department releases weekly jobless claims, 8:30 a.m.; Commerce Department releases international trade data for February, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.; Institute for Supply Management releases its service sector index for March, 10 a.m.

FRANKFURT, Germany — European Central Bank's governing council meets to set monetary policy for the Eurozone.

FRIDAY, April 4

WASHINGTON — Labor Department releases employment data for March, 8:30 a.m.

BERLIN — Germany's Economy Ministry releases February industrial orders figures for Europe's biggest economy.

Monday, April 7

WASHINGTON — Federal Reserve releases consumer credit data for February, 3 p.m.

BERLIN — Germany's Economy Ministry releases February industrial production figures for Europe's biggest economy.

TUESDAY, April 8

WASHINGTON — Labor Department releases job openings and labor turnover survey for February, 10 a.m.

TOKYO — BOJ monetary policy statement, could involve added stimulus following April 1 tax hike.

WEDNESDAY, April 9

WASHINGTON — Commerce Department releases wholesale trade inventories for February, 10 a.m.; Federal Reserve releases minutes from March interest-rate meeting.

BERLIN — Germany's Federal Statistical Office releases export and import data for February.

THURSDAY, April 10

WASHINGTON — Labor Department releases weekly jobless claims, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.; Treasury releases federal budget for March, 2 p.m.

NEW YORK — Selected chain retailers release March sales comparisons.

FRIDAY, April 11

WASHINGTON — Labor Department releases the Producer Price Index for March, 8:30 a.m.

MONDAY, April 14

WASHINGTON — Commerce Department releases retail sales data for March, 8:30 a.m.; Commerce Department releases business inventories for February, 10 a.m.

TUESDAY, April 15

WASHINGTON — Labor Department releases Consumer Price Index for March, 8:30 a.m.; Treasury releases international money flows data for February, 9 a.m.; National Association of Home Builders releases housing market index for April, 10 a.m.

BERLIN — Germany's ZEW institute releases its monthly index of investor confidence in Europe's biggest economy.

GENEVA — Swiss drugmaker Roche reports first-quarter results.

GENEVA — Swiss food and drink giant Nestle reports first quarter results.

PARIS — French dairy and bottled water company Danone reports its first-quarter sales figures.

WEDNESDAY, April 16

WASHINGTON —Commerce Department releases housing starts for March, 8:30 a.m.; Federal Reserve releases industrial production for March, 9:15 a.m.; Federal Reserve releases Beige Book, 2 p.m.

GENEVA —Credit Suisse, the second-largest bank in Switzerland behind UBS, reports its first quarter results.

THURSDAY, April 17

WASHINGTON — Labor Department releases weekly jobless claims, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.;

FRIDAY, April 18

WASHINGTON — Conference Board releases leading indicators for March, 10 a.m.

U.S. stock market is closed for Good Friday.

MONDAY, April 21

TUESDAY, April 22

WASHINGTON — National Association of Realtors releases existing home sales for March, 10 a.m.

WEDNESDAY, April 23

WASHINGTON — Commerce Department releases new home sales for March, 10 a.m.

PARIS — Michelin reports first quarter sales.

STOCKHOLM — Wireless equipment maker Ericsson presents first-quarter results.

THURSDAY, April 24

WASHINGTON — Commerce Department releases durable goods for March, 8:30 a.m.; Labor Department releases weekly jobless claims, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.

BERLIN — Germany's Ifo institute releases its monthly business confidence index, a key indicator for Europe's biggest economy.

GENEVA — Swiss drugmaker Novartis reports first quarter results.

PARIS — French beverage company Pernod Ricard reports its quarterly sales figures.

PARIS — Renault reports first quarter sales.

MUNICH — Formula One boss Bernie Ecclestone goes on trial on charges of bribery and incitement to breach of trust connected with a $45 million payment to a German banker.

FRIDAY, April 25

STOCKHOLM — Electrolux presents first-quarter results.

STOCKHOLM — Truck maker AB Volvo presents first-quarter results.

MONDAY, April 28

WASHINGTON — National Association of Realtors releases pending home sales index for March, 10 a.m.

FRANKFURT, Germany — Drug and chemical company Bayer AG reports first-quarter earnings figures.

PARIS — French utility GDF-Suez reports its first-quarter earnings.

TUESDAY, April 29

WASHINGTON — Standard & Poor's releases S&P/Case-Shiller index of home prices for February, 9 a.m.; The Conference Board releases the Consumer Confidence Index for April, 10 a.m.; Federal Reserve policymakers meet to set interest rates.

FRANKFURT, Germany — Deutsche Bank AG, Germany's biggest bank, reports first-quarter earnings figures.

FRANKFURT, Germany — Automaker Volkswagen AG reports first-quarter earnings figures.

PARIS — Sanofi reports first quarter results.

WEDNESDAY, April 30

WASHINGTON — Commerce Department releases first-quarter gross domestic product, 8:30 a.m.; Labor Department releases the first-quarter employment cost index, 8:30 a.m.; Federal Reserve policymakers meet to set interest rates.

BERLIN — Germany's Federal Labor Agency releases April unemployment figures for Europe's biggest economy.

FRANKFURT, Germany — Automaker Daimler AG reports first-quarter earnings figures.

TOKYO — BOJ policy statement.

Information on GM's recall of small cars

General Motors announced last month that it is recalling 1.6 million compact cars worldwide to fix faulty ignition switches.

THE ISSUE: At least 12 people have been killed in crashes linked to the defective switches, which can move from the "run" position to "accessory" or "off," shutting down the engine without warning. That can knock out power-assisted steering and brakes and cause drivers to lose control. It also can disable the air bags.

RECALLED VEHICLES: 2005-2007 Chevrolet Cobalt and Pontiac G5; 2003-2007 Saturn Ion; 2006-2007 Chevrolet HHR; 2005-2006 Pontiac Pursuit (Canada); 2006-2007 Pontiac Solstice; and 2007 Saturn Sky.

WHAT OWNERS SHOULD DO: GM dealers will replace the ignition switches for free. The company will contact owners when the switches are available, likely in April. After that, owners can make service appointments to have their switches replaced. GM says the cars are safe to drive as long as owners remove everything from their key chains except the key. But owners who don't want to drive the cars can request loaner cars from dealers until the repair is made.

BMW plans $1 billion expansion in South Carolina

GREER, S.C. -- BMW is celebrating its 20th anniversary of building cars in the United States by investing $1 billion in its plant in South Carolina to build two of its new X-series vehicles at the facility that ushered in a wave of foreign automakers building Southern plants.

The German automaker announced Friday it will create another line at the plant, producing the X7, a larger SUV with three rows of seats similar to a Cadillac Escalade. The company will also make the X4, a sportier version of the X3 coupe and plans to build a plug-in hybrid version of its smaller X5 SUV.

The $1 billion will be spent through 2016 at the plant in Greer, just down Interstate 85 from Spartanburg. BWM says it will hire 800 additional workers, bringing total employment at the plant to 8,800 people. The Greer plant will make 450,000 vehicles a year by 2016, becoming the largest of the company's 28 plants around the world.

Almost 300,000 BMWs were made in South Carolina last year, and more than 2.6 million vehicles have rolled off the plant's assembly lines in the past two decades.

BMW first started making cars in South Carolina in 1994 after months of courtship from around the country and has become as much of a part of the state's modern cultural landscape as the Shag and barbecue. The company said access to interstates, rail lines and the Atlantic Ocean were the state's biggest draws. About 70 percent of the vehicles made at the Greer plant are exported, most on ships out of the port in Charleston.

Mercedes-Benz followed with a plant in Alabama a year later, and in the past two decades, Nissan, Toyota and Volkswagen have all followed with plants built in rural Southern locations not far from decent-sized cities.

The foreign automakers also benefited from cheaper, non-unionized labor. Earlier this year, workers at the Volkswagen plant near Chattanooga, Tenn., refused a vote to organize, even with management's blessing.

BMW planned a huge ceremony Friday, with BMW Group Chairman Norbert Reithofer joining Gov. Nikki Haley and U.S. Secretary of Commerce Penny Pritzker at the Greer plant.

SD sand not suitable for oil field fracking in ND

PIERRE, S.D. -- A state study that took more than a year to complete has concluded that sand from western South Dakota is not suitable for use in the oil and gas industry.

South Dakota's Department of Environment and Natural Resources studied whether sand found mainly in the Black Hills was suitable for hydraulic fracturing. The method known as fracking involves pumping water, sand and chemicals underground to break up shale rock and allow oil to flow.

Fracking is used extensively in the booming western North Dakota oil fields, and officials wanted to know whether eastern South Dakota might benefit. The 16-month study found that the sand did not meet specifications recommended by the American Petroleum Institute.

Deficiencies found in the 256 samples that were studied included not being comprised of greater than 99 percent quartz, being too coarse or too finely grained, having grains that are not the correct shape or having grains that are tightly cemented together.

"DENR undertook this study at the request of the 2012 Legislative Oil and Gas Summer Study Committee that was looking for ways to benefit from the North Dakota oil boom," Department Secretary Steve Pirner said in a statement Thursday. "While the study did not produce the desired results, DENR's geologists gained a better understanding of sand resources in western South Dakota and that may prove useful in the future."

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Online:

Study results: http://bit.ly/1dAIQ5V

Stocks rise as consumer spending inches higher

NEW YORK -- Stocks are higher at midday, shaking off a two-day slump, as traders are encouraged by an increase in consumer spending last month.

Tech stocks turned higher with help from Microsoft. CBS Outdoor rose 7 percent on its first day of trading. The billboard company is splitting off from CBS.

The Standard & Poor's 500 index rose 14 points, or 0.8 percent, to 1,863 at midday Friday.

The Dow Jones industrial average rose 111 points, or 0.7 percent, to 16,373. The Nasdaq composite rose 38 points, or 0.9 percent, to 4,190.

The Commerce Department reported that consumer spending rose 0.3 percent last month. Income increased at the same pace.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.69 percent.

Afghanistan Getting New Leader, But Don't Expect Karzai To Disappear

Afghanistan could pick a leader to replace Hamid Karzai next week, but Taliban members are ramping up attacks. Al Jazeera's Abderrahim Foukara talks about the elections and the future of Afghanistan.

Russia says it has retaliated for West's sanctions

MOSCOW -- Russia says it has responded against Western sanctions over Ukraine but hasn't made any new names public.

Russian Foreign Ministry Alexander Lukashevich said Friday that some Western nations have followed the U.S. example and expanded their sanctions against Russia, adding that Moscow has taken "retaliatory measures, which are largely tit-for-tat." He wouldn't elaborate on who the new targets were.

The United States, the European Union and Canada have slapped Russia with travel bans and asset freezes targeting its officials and lawmakers over the annexation of Crimea. The U.S. and Canadian sanctions included businessmen close to Putin and a Russian bank, while the EU so far has limited its sanctions to officials and lawmakers.

Russia has responded by slapping travel bans on nine U.S. and 13 Canadian official and lawmakers, but so far hasn't retaliated against the EU.

Dakota Wesleyan plans $10 million wellness center

MITCHELL, S.D. -- Dakota Wesleyan University plans to break ground this fall on a two-story, 90,000-square-foot health and wellness center on the south side of the Mitchell campus.

The university has raised $10 million to build the facility and plans to raise another $5 million to renovate the existing Christen Family Wellness Center and pay for operating expenses, The Daily Republic reported (http://bit.ly/1g704Cy).

The new facility will include a 200-meter indoor track surrounding three multipurpose courts, 7,000 square feet of space for exercise equipment and fitness training, a wrestling room, locker rooms, additional space for strength and conditioning, and classrooms for seminars and leadership training.

Athletic Director Curt Hart said many fellow schools in the Great Plains Athletic Conference have modern athletic training facilities, and the new center will boost Dakota Wesleyan's sports programs.

"Everywhere we go, our student-athletes see the facilities they have," he said of other GPAC schools. "It's hard sometimes to recruit without being able to have that facility to show them."

President Amy Novak said the project has been a priority since she was named the school's leader nearly a year ago. It should be finished by January 2016.

"I've watched our student athletes in pretty confined spaces make workouts possible," she said. "It's exciting to be able to give this to them and to the community."

The new health and wellness center will be open to the general public on a membership basis, Novak said.

Arizona man sentenced in Pa. financial fraud case

PHILADELPHIA -- An Arizona man has been sentenced to more than 18 years in prison in a financial scheme that prosecutors said defrauded hundreds of people out of more than $26 million.

Sixty-seven-year-old Andrew Bogdanoff of Scottsdale, Ariz., pleaded guilty last year in U.S. District Court in Philadelphia to mail and wire fraud, money laundering and other counts.

He was sentenced Friday to 18 years and four months and ordered to pay $26 million in restitution and more than $962,000 to the Internal Revenue Service.

Prosecutors said Bogdanoff's Remington Financial Group bilked hundreds of people out of money they put forward for commercial ventures between 2005 and 2011.

The Philadelphia Inquirer (http://bit.ly/1iGO8vR ) reports that Bogdanoff told U.S. District Judge William Yohn on Thursday that "greed and arrogance took over my life."

Cardinals close deal to buy Triple-A Memphis team

ST. LOUIS -- The St. Louis Cardinals now own their top minor-league team.

The Cardinals on Friday closed on the purchase of the Triple-A Memphis Redbirds. As part of the deal, the city of Memphis, Tenn., acquires AutoZone Park and will lease the stadium to the Cardinals. Both are buying from Fundamental Advisors LP, the sole bondholder of the Memphis Redbirds Baseball Foundation.

Financial terms were not disclosed. Plans for the purchase were first announced late last year.

The Cardinals say the purchase agreement includes a significant investment in AutoZone Park, but did not elaborate.

The Memphis franchise has had financial struggles in recent years. The team drew more than 800,000 fans when the stadium opened in 2000, but has drawn fewer than 500,000 in recent seasons.

CBS Outdoor climbs in 1st day on NYSE

NEW YORK -- CBS Outdoor's stock is surging Friday in its debut on the New York Stock Exchange.

Shares of the outdoor advertising subsidiary of CBS Corp. gained $2.02, or 7.2 percent, to $30.02 in morning trading after peaking at $30.47 earlier in the day.

CBS Outdoor Americas Inc.'s initial public offering includes 20 million shares priced at $28 per share. That's at the high end of the expected range of $26 to $28 per share.

The New York company raised $560 million in the IPO.

At the IPO price, CBS Outdoor's market value would be approximately $3.36 billion. There would be 120 million shares outstanding after the offering. The New York-based company is giving the underwriters a 30-day option to buy an additional 3 million shares if demand is strong.

CBS Outdoor said in a regulatory filing that it had approximately 330,000 displays available for advertising in the U.S. and about 26,200 displays across Canada and Latin America as of 2013's end. Its customers include Apple Inc. and McDonald's Corp.

The company is trying to keep pace with the times, converting traditional billboard displays to digital ones. At the end of last year the company had 373 digital billboards in the U.S.

CBS Outdoor said in its filing that digital billboards produce about three to four times more revenue per display than traditional billboards, on average. The company is ramping up its efforts to convert more of its traditional billboards to digital billboards as conversion costs decline.

Once the offering is complete, CBS will own more than 80 percent of CBS Outdoor. CBS plans to divest its shares of CBS Outdoor through a split-off later this year. Once that happens, CBS Outdoor said it plans to convert to a real estate investment trust. CBS announced REIT conversion plans for the subsidiary in January 2013.

REITs return 90 percent of their profits to shareholders and don't have to pay taxes on those profits.

CBS Outdoor said it plans to use the offering's proceeds in part for the cash portion of the distribution to shareholders required in its REIT conversion.

In 2013, CBS Outdoor reported $1.29 billion in revenue. That's up slightly from $1.28 billion in the previous year.

CBS Outdoor is trading under the "CBSO" ticker symbol. The offering is targeted to close on April 2.

Maria Bartiromo launches Fox Sunday show

NEW YORK -- Political junkies have plenty of choices on Sunday-morning television. That's not the case for those who follow business, a niche that Maria Bartiromo hopes to fill starting this weekend on Fox News Channel.

The former CNBC personality debuts her one-hour program, "Sunday Morning Futures," at 10 a.m. EDT. It will feature interviews with business leaders and round-table discussions, with an emphasis on anticipating the financial stories of the upcoming week.

"You turn on the television Sunday morning and you see all of these politicos talking their talking points, but very rarely do you ever see anybody connecting the dots — it's about the economy, it's about job creation, it's about business," she said. "What I hope to do is get business people into the conversation on Sunday morning."

Original business programming is scarce on Sundays, even on networks that cater to that audience. CNBC and Fox Business Network both air infomercials for most of the daytime hours.

The Sunday Fox News slot was an important enticement for Bartiromo to make the jump to Fox, where she also hosts a two-hour weekday morning show on the business network. For two decades, Bartiromo was one of the main attractions at CNBC, the "Money Honey" whose breathless reporting from the floor of the New York Stock Exchange defined a go-go era.

On its face, the move to Fox Business lowers her visibility since FBN has struggled to establish itself as a competitor. Bartiromo's "Opening Bell" has averaged 54,000 viewers a day since she joined last month, compared with the 191,000 viewers that CNBC gets in the same time slot, the Nielsen company said.

A Sunday show on the Fox News Channel, meanwhile, offers a chance to reach a much larger audience. Fox is averaging 1.1 million viewers each week for the news and medical shows that "Sunday Morning Futures" will be displacing, more than the combined viewership for a CNN show with Fareed Zakaria and an MSNBC program with Melissa Harris-Perry in the same time slot.

Bartiromo said she had considered another deal at CNBC when her contract came due but decided to look around, too. She concluded her job at CNBC wouldn't change much, and she was looking to do some things differently. She was ready for a move.

"They have gotten so chatty, with so much personality, that they left some of the content on the cutting room floor — business information," she said.

Bartiromo said she believes CNBC's fast pace is no longer in tune with the times.

"I just felt this pressure to do five-minute interviews and this pressure to have five people on at once and I just got tired of it," she said. "I felt like I needed something with a little more substance and perspective and felt it was going to be hard to do that where I was because the structure is the structure and the machine keeps on going."

CNBC spokesman Brian Steel declined to comment.

Bartiromo said it's telling that many Wall Street firms are concentrating more on long-term wealth management strategies. "People don't care about buying XYZ (stock) at 10 o'clock and selling it at 10:01," she said. "It's not what they're looking to do."

Instead, she's looking to do longer interviews with, she hopes, a longer-term perspective. Among her interview subjects since she's joined Fox Business have been Blackstone Group Chairman and CEO Stephen Schwarzman, Morgan Stanley CEO James Gorman, AIG CEO Bob Benmosche, Starbucks CEO Howard Schultz and eBay CEO John Donahoe.

Former Treasury Secretary Larry Summers, Merck CEO Kenneth Frazier and Cleveland Clinic chief executive Dr. Toby Cosgrove are scheduled to be on Bartiromo's first show.

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David Bauder can be reached at dbauder@ap.org or on Twitter@dbauder. His work can be found at http://bit.ly/1jn2ReL

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Online:

http://fxn.ws/1hE2XvM

BlackBerry revenue falls below a $1 billion

BlackBerry reported a dive in profit and revenue as the company transitions itself from a smartphone company to a software business.

The Canadian company said it lost $423 million, or 80 cents per share, on revenue of $976 million — down from $2.7 billion in revenue the fourth quarter last year. Analysts polled by FactSet expected a loss of 56 cents per share on revenue of $1.1 billion.

Adjusted for one-time items, however, losses were only 8 cents, and shares spiked 7 percent.

It is the second quarterly results under John Chen, its chief executive, who is deemphasizing the hardware business after last year's launch of the BlackBerry 10 phones failed to spark a turnaround. The BlackBerry has been hammered by competition from the iPhone as well as Android-based rivals.

Unemployment rates fall in 29 US states last month

By CHRISTOPHER S. RUGABER The Associated Press

WASHINGTON -- Unemployment rates fell in most states in February and two-thirds of the states reported job gains, evidence that most of the country is benefiting from slow but steady improvement in the job market.

Unemployment rates dropped in 29 states, rose in 10 and were unchanged in the remaining 11, the Labor Department said Friday. Meanwhile, hiring rose in 33 states and fell in 17.

The rate declines occurred even though unemployment rose nationwide last month, to 6.7 percent from 6.6 percent in January. That increase occurred partly for a good reason: more Americans began looking for work, though most weren't immediately hired. But the fact that they started looking suggests they were optimistic about their prospects.

Employers added 175,000 jobs nationwide in February, close to the average monthly gains of the past two years. Those gains followed two meager months of hiring. Employers added only 129,000 jobs in January and just 84,000 in December. Harsh winter weather likely dragged on job gains in those months.

The biggest drop in unemployment occurred in South Carolina, where the rate fell to 5.7 percent from 6.4 percent. Ohio reported the next biggest decline, to 6.5 percent from 6.9 percent.

South Carolina actually lost jobs last month, so the big drop in its unemployment rate partly occurred because many of the unemployed stopped looking for work. The number of unemployed people in the state fell sharply. The government doesn't count those out of work as unemployed unless they are actively searching.

Another factor: The unemployment rate and job counts come from different surveys that can produce disparate results. The number of jobs in each state is calculated from a survey of employers, while the unemployment rate stems from a separate survey of households. The number of people in South Carolina who said they had jobs rose, even though the survey of employers found fewer overall positions.

Rhode Island reported the highest unemployment rate, at 9 percent, followed by Illinois at 8.7 percent and California with 8 percent.

North Dakota had the lowest rate, 2.6 percent, followed by South Dakota and Nebraska at 3.6 percent each.

Stocks start higher on Wall Street

NEW YORK -- Stocks are moving higher in early trading as investors are encouraged by more evidence that Americans are spending more.

BlackBerry rose 5 percent after the company reported results that were better than investors were expecting as a new CEO cut expenses.

The Standard & Poor's 500 index rose 12 points, or 0.7 percent, to 1,861. The Dow Jones industrial average rose 111 points, or 0.7 percent, to 16,373. The Nasdaq composite rose 35 points, or 0.9 percent, to 4,187.

The Commerce Department reported that consumer spending rose 0.3 percent last month. Income increased at the same pace.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.69 percent.

Morocco bans daring online news website

RABAT, Morocco -- Morocco's Internet regulatory authority has banned a taboo-breaking news website, its editor said Friday as he threatened to go on a hunger strike to reopen it.

Ali Anouzla is out on bail after a month in prison on terrorism charges after his website wrote about an al-Qaida video that criticized Morocco. While in prison he asked that the website be temporarily shut down, but now authorities have refused to reopen it.

Anouzla is known for his secular outlook and many see the supporting terrorism charges as punishment for his criticism of King Mohammed VI. The charges against Anouzla carry up to a 20-year jail sentence and the next session in his trial is May 20.

Morocco, a popular tourist destination, is more stable and open than its North African neighbors but it still ranks low on media freedom indexes. In the past few years, however, there has been an explosion in online journalism, with Anouzla's Lakome.com website seen as the most daring in Morocco's docile media landscape.

News Summary: Government missed Cobalt clues

WHAT HAPPENED: General Motors recalled 1.6 million small cars for defective ignition switches that can cause the cars to stall without warning. GM links 12 deaths to the defect.

GOVERNMENT'S ROLE: The National Highway Traffic Safety Administration never opened an investigation, which could have prompted an earlier recall of the Chevrolet Cobalt and other small cars. It said it couldn't establish a trend. But a review by The Associated Press shows more stalling complaints for the Cobalt than for most other small cars.

WHAT'S NEXT: The heads of GM and NHTSA testify before House and Senate subcommittees next week.

Feds close investigation of Tesla battery fires

DETROIT -- The U.S. government's auto safety watchdog has closed an investigation into Tesla electric car battery fires after the company agreed to install more shields beneath the cars.

Tesla says the shields will prevent roadway debris from damaging batteries and possibly causing fires.

The company will retrofit Model S cars sold in the U.S. with the new shields. It sold about 22,000 through February.

The National Highway Traffic Safety Administration says the shields and raising the ride height should reduce underbody damage and fire risk. Tesla says the action is not a recall.

The company says it will add an aluminum bar, a titanium plate and another piece of aluminum. The shields are designed to ward off the type of debris that caused fires in two cars last year.

BMW plans major expansion announcement at SC plant

GREER, S.C. -- BMW officials are preparing to announce an expansion of its South Carolina plant.

BMW Group Chairman Norbert Reithofer is joining Gov. Nikki Haley and U.S. Secretary of Commerce Penny Pritzker at the automaker's plant in Greer for the Friday afternoon announcement.

The plant currently makes BMW's X-series vehicles, which are a mix of an SUV and a coupe. Workers have made more than 2 million vehicles since the plant opened 20 years ago.

BMW has about 8,000 workers at the Greer plant. An estimated 30,000 additional workers in South Carolina have jobs at plants that support or provide parts to the German automaker.

McDonald's offers free coffee for breakfasters

NEW YORK -- McDonald's is giving away free coffee to its customers for a limited time as competition for the breakfast crowd intensifies.

The world's biggest hamburger chain announced Friday that participating U.S. locations will offer free small McCafe coffees during breakfast hours from March 31 through April 13.

The announcement comes as Taco Bell rolls out ads to promote its new breakfast menu, which includes a waffle taco. The ads star everyday men that happen to be named Ronald McDonald.

Chains like McDonald's, Taco Bell and Starbucks — which recently revamped its sandwiches — are all fighting for a piece of the breakfast market because people are increasingly buying breakfast on the go.

McDonald's Corp.'s McCafe product line, which also includes iced coffees and other drinks, debuted in the U.S. in 2009.

Cozza named to head North Carolina Ports

WILMINGTON, N.C. -- The North Carolina Ports Authority has a new executive director.

The authority's board of directors on Thursday selected Paul Cozza for the post.

Cozza previously served in several roles for Maersk Line Limited and worked for more than 10 years with CSX Corporation/Sea-Land Service Inc.

He replaces Jeff Miles, who served as interim director since January 2013.

Cozza was chosen following an eight-month search.

New Zealand announces energy company sale

WELLINGTON, New Zealand -- New Zealand is closing the books on a contentious, multibillion dollar program of asset sales.

The government announced on Friday it would sell a minority stake in power company Genesis Energy for 736 million New Zealand dollars ($638 million). The company will list on the New Zealand stock market on April 17.

Including Genesis, New Zealand has sold 49 percent stakes in three power companies and a 20 percent stake in Air New Zealand over the past year, raising a total NZ$4.7 billion ($4.1 billion).

The government says the money has helped pay for schools and hospitals and reduced debt. Opponents say it's ideologically driven and unnecessary.

More than two-thirds of people who voted in a referendum last year said they opposed the sales.

Leeds United players agree on pay proposal

LEEDS, England -- Leeds United players have agreed to defer part of their wages for March as the second-division club is trying to avoid entering administration.

Professional Footballers' Association chief executive Gordon Taylor said the players have accepted receiving only a proportion of their wages while the rest of the staff have received their full salaries.

On Monday, Cagliari president Massimo Cellino was blocked from taking over Leeds because of his recent conviction for tax evasion. He has appealed the decision and remains in talks with Leeds' owners, GFH Capital.

Cellino has already paid more than 2 million pounds ($3.3 million) into the northern club, which won the English topflight title in 1992 and reached the Champions League semifinals in 2001 before falling into financial difficulties.

BlackBerry revenue falls below a $1 billion

TORONTO -- BlackBerry reported a steep drove in profit and revenue as the company struggles to tranistition itself from a smartphone company to a software business.

The Canadian company said it lost $423 million, or 80 cents per share, on revenue of $976 million — down from $2.7 billion in revenue the fourth quarter last year. Analysts expected a loss of 56 cents per share on revenue of $1.1 billion.

It's the first time the company has reported less than $1 billion in revenue since late in 2007.

It is the second quarterly results under CEO John Chen, who is deemphasizing the hardware business after last year's launch of the BlackBerry 10 failed to spark a turnaround. The BlackBerry has been hammered by competition from the iPhone as well as Android-based rivals.

Policeman fatally shot in Lebanon's Tripoli

TRIPOLI, Lebanon: A policeman was shot and killed by masked gunmen in Tripoli Friday, a day after an influential cleric called for Sunni youth to rise up and “defend their rights.”

Tripoli has been plagued by a series of Syria-linked clashes, with militant groups increasingly targeting the Army and security forces, which have been tasked with keeping the peace in the restive northern city.

Internal Security Forces Adjutant Butros al-Bayea was killed instantly by multiple bullets to the head, neck and chest after assailants opened fire on his Range Rover while traveling along the Majdlaya highway that links Tripoli to Zghorta, security sources said.

The vehicle crashed down into the nearby Abu Ali River.

The deadly attack came only one day after assailants shot to death a Lebanese Army officer in Tripoli. Masked gunmen on a motorcycle shot Warrant Officer Fadi Ali Jbeili in the back from close range Thursday. He was rushed to hospital where he died soon after.

Less than an hour later, gunmen fired an AK-47 round toward police Cpl. Samer Dandashi, but missed their target, the security sources said.

Separately, a man from the Al-Khazma family was severely wounded when an unknown assailant stabbed him repeatedly in the Al-Tal neighborhood. He was transferred to the Islamic Hospital.

Tensions ran high Friday hours after Tripoli-based Dai al-Islam al-Shahal, the founder of the Salafist Movement in north Lebanon, released a recording, urging Sunnis to rise to the occasion and defend their rights.

"I call on Sunni youth to prepare [themselves] because the time has come," he said.

"Tomorrow [Friday] is the day to turn the page and open a new one to make them understand that we are an umma [Islamic nation] that defends its rights ... so let’s go, Sunni youth, victory is upon us,” Shahal added.

The past few days have been marked by sporadic sniper fire and isolated attacks, capping off over a week of clashes between supporters and opponents of Syrian President Bashar Assad which killed at least 30 people.

Tripoli has been the scene of at least 20 rounds of armed clashes linked to the three-year-old crisis in neighboring Syria. The fighting has pitted Sunni gunmen in Bab al-Tabbaneh, who support Syrian rebels, against the Alawite minority in Jabal Mohsen, which enjoys close ties with the Syrian regime.

The attacks against the Army and the police officer coincide with Cabinet’s directions to the Lebanese Army and security forces to seize stockpiled arms and crack down on gunmen in the Bekaa Valley and Tripoli as part of a plan to end the violence.

Meanwhile, relatives of men killed in Syria held a protest and blocked the road leading to the border town of Abboudiyeh, demanding the repatriation of bodies.

The protesters claimed that some 50 Lebanese who fought alongside rebel groups against regime forces were killed in fierce battles for the historic citadel known as Krak des Chevaliers in Homs.

On March 20, the Syrian army retook the famed crusader castle, which was used by rebels as a hideout.

House Intelligence Chair Mike Rogers Won't Seek Re-Election

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hide captionRep. Mike Rogers, R-Mich., during an appearance last year on CBS News' Face the Nation. The chairman of the House Intelligence Committee says he won't seek re-election in November.

Chris Usher/AP

Rep. Mike Rogers, R-Mich., during an appearance last year on CBS News' Face the Nation. The chairman of the House Intelligence Committee says he won't seek re-election in November.

Chris Usher/AP

House Intelligence Committee Chairman Mike Rogers, R-Mich., confirmed Friday that he will not seek re-election in November and is going to host a talk show on the Cumulus radio network starting next year.

He made the announcement, which was the subject of rumors Thursday night, on WJR radio, a Detroit news/talk station that is one of the Cumulus network's 525 stations in 110 cities across the nation.

The congressman, now serving his seventh term, has been a frequent face on Sunday morning talk shows in recent years and a go-to source for comment on national security issues.

According to the Detroit Free Press , the 50-year-old Rogers said Friday that his radio show will focus on conservative and national security issues. He made the case that the conservative voice "is missing" in the news media.

During his career in Congress, Rogers has been viewed as a strong supporter of House Speaker John Boehner, R-Ohio.

Boehner picked Rogers to be the Intelligence Committee's chairman in 2010, over Rep. Mac Thornberry of Texas, who remains the committee's second-ranking Republican.

Politico offers this background on Rogers:

"Rogers joined the FBI in 1989 as a special agent in the Chicago office, focusing on public corruption and organized crime, among other issues. In 1995, he was elected to the Michigan Senate, rising to majority floor leader in 1999.

"In 2000, Rogers won election to Congress. His southeastern Michigan district voted for Republican Mitt Romney in the 2012 presidential race following redistricting, but Barack Obama carried it in 2008.

"Rogers has been a frequent Obama critic during many appearances on Sunday morning talk shows, although he was briefly floated as a potential CIA director nominee following President Obama's 2012 reelection victory.

"He has been a harsh critic of former NSA contractor Edward Snowden, suggesting — without offering additional proof — that Snowden was working with foreign intelligence agencies."

$10 million upgrade planned for Jennings hospital

JENNINGS, La. -- Jennings American Legion Hospital is moving forward on plans for a $10 million facility upgrade.

CEO Dana Williams said Thursday the State Bond Commission has approved $10 million in hospital revenue bonds for Jefferson Davis Hospital Service District 1.

Williams tells the American Press (http://bit.ly/1eOXZNb ) the three-phase project will focus on improvements and upgrades to the operating and emergency rooms and entrance areas.

The project will include an upgrade and revitalization of the operating room area to include new operating rooms and a new patient holding area with support services.

Williams says patient registration, including outpatient admissions and information, will be moved to the front lobby. The move will allow the emergency room entrance to be strictly used for emergencies.

Mass. pot companies to undergo additional scrutiny

BOSTON -- Companies given provisional approval to run medical marijuana dispensaries in Massachusetts are being subjected to additional scrutiny by state health officials.

The Public Health Department has notified companies approved for provisional licenses they will be subjected to extensive additional background checks on anyone "who will have any involvement" with the proposed dispensaries, including volunteers, consultants, advisory board members, staff members, and all corporate and individual investors.

Previously, the agency had said it would review only those who contributed 5 percent or more toward the operations, as well as the board of directors and members of the executive management team and corporation.

The Boston Globe (http://b.globe.com/1i1aMNs ) reports that letters about the background checks were sent March 14.

The selection process has come under intense scrutiny and three rejected companies have filed lawsuits.

State moves wage reporting for unemployment online

BATON ROUGE, La. -- All Louisiana employers now are required to file quarterly unemployment wage and tax reports electronically with the Louisiana Workforce Commission, a change the state says most businesses already have made.

So far, 90 percent of the state's roughly 100,000 employers have switched successfully to e-filing.

In 2008, the Legislature voted to require all employers to e-file unemployment wage and tax reports, and established penalties for employers who don't comply. Paper forms and reports will no longer be accepted by the LWC, and are no longer available for download on the LWC's website.

Wage and tax reports for the first quarter of 2014 are due by April 30.

For more information about online wage and tax reporting services, visit http://bit.ly/1rJYP5u and select the link under Businesses for "File Wages and Taxes."

Japan Fukushima nuclear worker dies in mudslide

TOKYO -- A worker died Friday at the Japanese nuclear plant devastated by the 2011 tsunami after getting buried in a mudslide, in the first death from an accident during efforts to control and decommission the facility.

The man, who had been working near a storage area at the Fukushima Dai-ichi plant, was dug out and rushed to a hospital, but he was unconscious and his heart had stopped beating.

Three hours after the mudslide swallowed him, the man, who was in his 50s, was pronounced dead at the hospital, according to Tokyo Electric Power Co., the utility that operates the plant.

"Some danger is always involved," company spokesman Masayuki Ono told reporters. "We are deeply sorry."

Three reactors went into meltdown and exploded after the March 11, 2011, tsunami damaged the plant's cooling system.

Thousands of workers, wearing masks and suits to guard against radiation, are working on the cleanup and decommissioning, which is expected to take decades.

Workers have collapsed from heat and ailments, but this was the first fatal accident involving a plant employee since two workers went missing after the tsunami hit the plant. Those workers were later found dead.

The worker who died Friday had been carrying out what is similar to regular construction work in a hole in the ground when mud and pieces of concrete collapsed on him, TEPCO said.

The specific cause of death was still under investigation, and the man's name was not disclosed, it said.

The worker was employed at one of the layers of subcontractor companies that supply labor to TEPCO. Workers' exposure to radiation is monitored, and they must quit when they reach the annual limit.

TEPCO said the worker was the seventh to die over the last three years. It said three died from heart attacks and one from leukemia, but that none of the deaths has been related to radiation exposure.

Report: Detroit landlords get aid, ignore taxes

DETROIT -- A newspaper report says about one in four Detroit landlords paid to rent to poor families through a state program collectively owe the city at least $5 million in back taxes.

The Detroit News reports (http://bit.ly/1gxgj0D ) Friday its investigation looked at payments through the state's Housing Choice Voucher program. Federal and state guidelines for the rental assistance known as Section 8 don't require that all landlords pay.

Experts said the 26 percent delinquency rate among landlords is another example of dysfunction in Detroit, which struggles with tax collection. In comparison, records show 6 percent of Wayne County landlords receiving the subsidy owed taxes.

The state says it doesn't' check for tax debt because there's no federal requirement. The program is funded by the U.S. Department of Housing and Urban Development.

Natchez Regional granted $1.5M line of credit

NATCHEZ, Miss. -- The Adams County Board of Supervisors has ratified an agreement that will extend a $1.5 million line of credit to Natchez Regional Medical Center through the end of April.

The agreement came Thursday after the supervisors met with the county-owned hospital's attorney, Walter Brown.

Supervisors' attorney Scott Slover says the line of credit with United Mississippi Bank has actually been in existence since 2008, but has been reduced from $3 million to the current $1.5 million.

The Natchez Democrat reports (http://bit.ly/1jCcp9Q ) the line of credit has been used to finance the hospital's patient accounts receivable.

The hospital filed a petition for Chapter 9 bankruptcy in federal court Wednesday, a move hospital administrators said was necessary to keep the doors open as the hospital's financial obligations exceed its assets.

Philippines signs contract to buy 12 fighter jets

MANILA, Philippines -- The Philippines has signed contracts worth $527 million to buy 12 fighter jets from South Korea and four combat utility helicopters from Canada to boost the capability of its air force, one of the weakest in Southeast Asia.

Armed Forces chief Gen. Emmanuel Bautista signed a contract with Korean Aerospace Industries on Friday for 12 FA-50 fighters worth 18.9 billion pesos ($420.4 million) and another contract with Canadian Commercial Corp. for four Bell 412 combat utility helicopters worth 4.8 billion pesos ($106.8 million). Deliveries will start next year.

The fighter jets contract is the biggest deal so far signed under the military's long-delayed modernization program.

The signings come amid tensions with China in the South China Sea.

Intesa SanPaolo bank posts big loss, sells assets

MILAN -- Italian bank Intesa SanPaolo said Friday it will sell its entire portfolio of non-core businesses, including shares in strategic Italian companies Alitalia and Telecom Italia, under a plan to increase earnings.

The move comes as Italy's second-largest bank by assets took a huge write-down to clean up its books for a rigorous stress test, posting a 5.2 billion-euro ($7 billion) fourth-quarter loss.

The bank took a write-down of 5.2 billion euros in the quarter, which widened the quarterly loss from 83 million euros last year. For the year, the bank said Friday its losses were 4.55 billion euros, compared with earnings of 1.6 billion euros last year.

The balance sheet cleanup, which included increasing its provisioning for bad loans by half to 7.1 billion euros, comes as the European Central Bank starts a review of the region's banks to identify weak spots in their finances and, if needed, request fixes.

Intesa SanPaolo previously took a write-down of 10 billion euros in 2011.

The bank said it plans to sell non-core shares with a 2013 book value of 1.9 billion euros as part of a new plan aimed at increasing earnings to 4.5 billion euros by 2017. Intesa this year sold off its shares in Generali insurance, Pirelli and others for a capital gain of 320 million euros.

Intesa said it will focus on fee-intensive businesses in light of low interest rates, and will pay out a total of 10 billion euros in dividends over the next four years. For 2013, the bank said it will pay out 822 million euros in dividends, or .05 euros a share. That will rise to 1 billion euros for 2014 and to 4 billion euros by 2017.

Greece: austerity bill angers neighborhood stores

ATHENS, Greece -- Associations representing bakers, pharmacies, booksellers and milk producers have expressed angry opposition to a new austerity bill in Greece, a proposed overhaul of trading rules they fear will wipe out independent stores.

The government is due to submit the draft legislation to parliament Friday to scrap dozens of commercial regulations it says are overly protective of independent stores and stifle competition.

The measures, to be voted Sunday, would liberalize retail sectors, and include plans to grant supermarkets permission to set up in-store pharmacies, allow a longer shelf-life for milk and scrap price limits on books set by Greek publishers.

Unions also oppose the plans, and have called for weekend protests and a general strike on April 9, while most pharmacies across the country closed indefinitely in protest this week.

Machnouk denies Beirut airport prison claim

BEIRUT: Interior Minister Nouhad Machnouk denied Friday a newspaper claim that an Arab woman was detained and held at a Hezbollah-controlled prison on the lower floors of Beirut airport.

A statement by the Interior Ministry said the results of an investigation ordered by Machnouk revealed that “the report published in the paper is baseless.”

The statement said Machouk had ordered security agencies, including General Security and Internal Security Forces, to launch an immediate probe after pan-Arab newspaper Asharq al-Awsat alleged that Hezbollah maintained a prison two stories below the airport facility in which its members detained, interrogated and tortured people.

The report quotes an unnamed woman who lives in Jeddah as saying that she was held for three days in the underground prison and interrogated by people who introduced themselves as Hezbollah’s special security.

The Endorsement: Why F1 Racing Rules

It may have been because I was very drunk on G.H. Mumm, but when Fernando Alonso’s Ferrari came screaming around the bend and my one-year-old daughter’s head almost exploded, I fell deeply in love with Formula 1.

I was in Australia to tour my book this month, and also because my wife is a powerful sport’s agent whose snowboard client, Torah Bright, was racing in the Melbourne Grand Prix celebrity event. My wife was busy with press and things, so I took our one-year-old daughter onto the Sky Deck and thought, “Ho hum.” Motorsports had never been my thing. Too exhaust-ridden. Too greasy. Too middle America. I grabbed a flute of champagne, and then another, and just as I was finishing my third, Fernando Alonso’s Ferrari entered my life and Formula 1 entered my heart.

This was the inaugural race of the 2014 season, taking place on a grey but beautiful Melbourne day. There was a threat of rain—which I soon discovered is great for the sport, because it ratchets up the intensity by increasing the possibility of a wet track. The people love their crashes. They sip champagne but want blood. But the clouds never spat and the weather stayed a perfectly humid 78 degrees.

The cars lined up, in position, at the start of the race and when the horn sounded they launched like rocket ships. They launched and swerved wildly trying to get into the best position while warming their tires. This race, being the inaugural with the new cars, began poorly as a Marussia’s second car piloted by Jules Bianchi failed to move. Marussia had lost its first car moments earlier when Max Chilton’s also failed to move for the parade lap.

C’est la vie, as they say, and the second start went off without a hitch…until the first turn, where Japanese gentleman Kamui Kobayashi didn’t actually turn andtook two cars with him into the gravel. The people moaned, but in their hearts they celebrated, for no gossip is as titillating as who-made-who-crash gossip. Kobayashi, being a Japanese gentleman, took to Twitter and accepted full blame, though it would later be reveled that his breaks failed.

There were more crashes over the course of the race, but mostly there was just hot, hot action: screaming cars, furious pit crews, crew chiefs wringing their hands in agony. It was a delirious spectacle and hard to fathom how the drivers don’t lose control at every tick. Seeing it in person is the realization that some people are simply better than others. Some people have reflexes so razor sharp that they can make split second decisions while skimming the surface of the earth at a blistering rate of speed.

It was the fastest two hours of my life, both literally and figuratively, and when Nico Rosberg crossed the finish line in his Mercedes I let out a cheer. Huzzah! He is a handsome German without a flaw on his face, and his girlfriend—soon to be wife—is a true smoker. Formula 1 is perfect.

And yet, but in America seems to care. NASCAR has our nation’s motorsport heart, and as I watched my one-year-old daughter’s face contort in agony and then cheer along with me in the end, I pondered the differences and wondered why.

The F1 track is not NASCAR-round. Instead it meanders through a lovely parks or city streets. The cars are not Ford Fusions or Chevy Impalas. They are Ferraris and Mercedes and Lotuses and McLarens. The sponsors are oil and gas conglomerates and banking interests. The drivers are not named Dale. They are named things like "Jensen Button."

And is it as simple as that? Is F1 for the one percent and NASCAR for the other ninety-nine? Nonsense! Adrenaline and fine action know no trendy socioeconomic constructs. Certainly it is swathed in finer apparel, but underneath it all beats a heart made of fire, air, gasoline and high-as-the-sky top speeds. It is so much better than NASCAR that if the ninety-nine prefer it, maybe they deserve their lowly station.

Esquire, the U.K. version, has a car in the race. Two cars, in fact, as they are partner in the Williams Martini team. Both Felipe Massa, who was taken out by Kobayashi, and Valtteri Bottas, who slapped the wall, lost a tire and drove one lap on his bare rim, have the signature script on their fender, or whatever that part of a rocket ship is called, and it looks perfect as it screams ‘round and ‘round and ‘round. It even looks perfect when crashed into gravel or limping. It looks like caviar, fine wine. It looks like the good life.

The 2014 Petronas Malaysia Grand Prix runs today through Sunday, March 30.

Strain: Exxon's bad fuel totals 5M gallons

BATON ROUGE, La. -- More than five million gallons of gasoline shipped from the ExxonMobil Baton Rouge terminal in mid-March was tainted by something that's causing the intake and valve systems of vehicles to gum up, a state official said.

Mike Strain, Louisiana's Commissioner of Agriculture and Forestry, said he's been speaking with Exxon officials since late Wednesday about the bad fuel. He told The Advocate (http://bit.ly/1jAvZTS) Thursday that the problem is contained to two batches of gasoline — a total of 120,000 barrels — shipped between March 12 and March 15. One barrel contains 42 gallons of gas..

"What we think is something got in the fuel that shouldn't have gotten in," Strain said.

Agents from the Department of Agriculture and Forestry's weights and measures division are testing gasoline from several Baton Rouge gas stations for a variety of things, from sulphur content to octane to flash point in an attempt to find out what the substance is.

ExxonMobil said it is working with Exxon-branded stations and other wholesale fuel customers to ensure a continued supply of fuel for motorists.

"We are taking this matter seriously and are investigating the issue to determine the cause," the company said in a brief statement, adding, "We are working in close cooperation and communication with regulatory and local officials."

The company also directed anyone with questions about fuel purchased in the Baton Rouge area to call the ExxonMobil North America Customer Care center at 855-300-2659.

The president of a Baton Rouge automotive shop said Thursday he's seen "40 or 50" cases in the past week of motorists getting bad fuel.

Louis Altazan of AGCO Automotive, a maintenance and repair business, said drivers have come in with complaints about their vehicles not starting right in the morning. Altazan said complaints have come from people who bought gas at a number of different stations, as far away as New Orleans and Slidell.

Exxon makes gasoline for a number of other companies at its Baton Rouge refinery, not just for stations that carry its brand name — blending the fuel to the specifications of a gasoline distributor, Altazan said.

"It's a cocktail," he said.

Altazan said he thinks the problem may have to do with some incompatibility in the chemicals in the gasoline.

Department of Energy pulls BlueFire funding

FULTON, Miss. -- The U.S. Department of Energy has withdrawn its support for a biofuels company's $300 million cellulose plant in Fulton, Miss.

BlueFire Renewables officials tell the Northeast Mississippi Daily Journal (http://bit.ly/1heLdL9 ) they are appealing the decision.

The company expected to begin construction by August to meet a 2015 completion date.

The funding represented an $88 million investment in the plant, which will be designed to produce approximately 19 million gallons of ethanol per year and employ between 70 and 80 people.

The plant's remaining funds come from a number of private sources and business partnerships.

The news stems from a Dec. 23, 2013, filing of Form 8-K with U.S. Securities and Exchange Commission, in which the company states that it received notification that it was losing its funding through the DOE because of its "inability to comply with certain deadlines related to providing certain information to the DOE with respect to (BlueFire Renewables) future financing arrangements for the Fulton Project."

Form 8-K is a common form used to notify investors of important events and changes in the company's structure or funding.

"(BlueFire Renewables) shall exhaust all options available to it in order to reverse the DOE's decision," the company's statement reads, although it also states that they "cannot make any assurances that the DOE's decision will be reversed on appeal or that such an appeal will be heard at all."

The form states that if the appeal is denied, BlueFire Renewables will devise a new strategy and seek other avenues for funding the Fulton project.

Since it was first announced in 2009, BlueFire Renewables' planned Fulton cellulose plant has gone through a series of delays, leading many to speculate that the project may be floundering.

Officials have said ethanol production — which involves fermenting raw materials for their sugar to create an alcohol that can replace petroleum-based fuels — is still a relatively new technology, so the construction of a large ethanol refinery might be expected to take longer than those involving established technologies.

The site is basically ready for construction, and has been since 2011.

The company continues to invest money in the Fulton project, including the partial funding of recent prep work for the site, plus work at the port that will be utilized by the plant once it's up and running.

BlueFire also pays the county a monthly lease on the site. This "long-term lease" will continue through 2015.