Thursday, 24 April 2014

How to Get Other People to Wash Their Hands


You want the smartest life advice in the world? Don't ask A.J. Jacobs. Ask A.J. and his 122,000 Facebook friends. Esquire's editor-at-large sifts through the wisdom of the crowd to solve all your toughest questions about sex, manners, food and the issue of thick, lustrous arm hair. Send questions to @ajjacobs, or ask A.J. via his Facebook page.


THIS WEEK’S QUESTION


I've noticed that 30 percent of men don't bother washing their hands after using the restroom. I really don't want to touch that doorknob after these guys do. Is there an acceptable way to tell them to wash—something that won’t elicit a punch in the face? Or maybe there's a way of publicly shaming guys into washing their hands? —Michael, Akron, Ohio


Excellent question, Michael. And, given that I’m a lifelong germaphobe, one that’s close to both my heart and immune system. Thankfully, my Facebook followers have some excellent feedback for you.


For example, Gary Rudoren asks, “How long is Michael waiting around in men's rooms in order to determine his 30 percent number? Because the loitering feels like a bigger problem.”


Gary makes an interesting point, Michael. You probably should leave the clipboard at home. It’s kind of freaking the other guys out.


In dealing with non-washers, according to the Huddled Masses, you have a choice of three main strategies:


1. Let it go. Just touch the door. Embrace the microbes as if they were your tiny best friends. Claudia Azula Altucher puts it this way: “You just say the hell with it and you expose yourself to enough germs that you become largely immune, as humans have been doing for thousands of years.”

This is my wife’s attitude too, by the way. As a believer in what’s known as the “Hygiene Hypothesis,” she would be delighted to see our kids eat their mac and cheese off the floor of your average unlicensed Bangkok massage parlor. (I err on the opposite side.)


2. If you see something, say something. Maybe there’s a diplomatic way to confront the hygiene shirker. David Guzman suggests you ask him, “Guess the water is out?” Or else there’s this slightly more aggressive line from Owen Garratt: “Hey, I notice you didn’t wash your hands. How do you keep from pissing on them?”


To which the non-washer might reply, “Actually, I do piss on them, but contrary to popular belief, urine is quite sterile. In fact, it’s safe to drink, and has been consumed by people throughout history, including author J.D. Salinger, according to his daughter’s memoir.”


To which you might counter, “That’s true, but there are other microbes that migrate north from the sphincter area, and those are the ones that you have to worry about getting on your hands.”


And then he’d say, “Oh, I never thought about that. Thank you for the interesting biology lesson.”


Then you’d punch each other in the face with your fecal bacteria–covered hands.


3. Use technology. Several Facebook friends (including Deryck Dunn) made reference to the Far Side cartoon in which a bathroom scofflaw triggers a “Didn’t Wash Hands” alarm. While that system is being developed, consider these other ideas:


The foot-operated door opener offered by StepNpull. (Thanks to Mark Myles for that one.)


A well-placed Purell bottle. “As a nonconfrontational, passive-aggressive type o' gal,” says Shilah Cook, “I would suggest installing a dispenser of quick-drying hand sanitizer directly across from the restroom door.”


A video monitoring system now in use by some hospitals that tracks the percentage of hand washers, which is then broadcast on LED signs (via Kevin Hawley).


And Kristi A. Grinde suggests the strategy used by one hospital: Swab the hands of exiting bathroom patrons, let the germs grow in a petri dish, then take a photo of the results and use it as mandatory screen saver for all computers in your workplace.


The Verdict


My Huddled Masses gave me hope for the human race this week. I love each and every one of the technological fixes, even the totally creepy and invasive ones.


If a skosh of public humiliation will help save me and my kids from exposure to E. coli, then I say bring on the video cameras and other modern versions of stocks and pillories. (I think I might be a Puritan at heart.)


But short of that, Michael, there’s always this complex, high-tech solution: Just use a paper towel to grasp the door handle.



Is Drug Testing For Welfare Fair?



Audio for this story from Tell Me More will be available at approximately 3:00 p.m. ET.





Florida Gov. Rick Scott's plan to drug test state workers and welfare recipients ran into trouble in the courts. Law professor Pauline Kim and reporter Curt Anderson discuss the drug testing battle.



Argentina's Congress approves $5B Repsol indemnity


Argentina is hoping to have an easier time attracting international investors to exploit its oil and gas fields now that its Congress has approved a $5 billion payoff to Spain's Grupo Repsol for the controlling stake in the YPF oil company it seized.


The deal was approved early Thursday by a vote of 135-59 with 42 deputies abstaining after a marathon debate in Argentina's legislature.


Repsol had already agreed to the indemnity package, accepting less than half what it originally demanded for the 51 percent stake in YPF that President Cristina Fernandez nationalized two years ago. In exchange for the bonds, Repsol is dropping all legal action against YPF and other potential investors in the "Vaca Muerta" shale deposits that the company discovered under Repsol's leadership.



UPS blames winter weather for drop in 1Q profit


First-quarter revenue at UPS slumped 12 percent as winter storms increased costs for the shipping giant and cut into its revenue.


The Atlanta company said Thursday that the rough start to the year means that full-year earnings will come in at the low end of its earlier forecasts.


UPS Inc. reported net income of $911 million, or 98 cents per share, well short of the $1.08 that Wall Street was expecting and less than the $1.04 billion, or $1.08 per share, it earned a year earlier.


UPS said winter storms reduced operating profit by $200 million as costs rose.


Revenue increased by 2.6 percent to $13.78 billion, but that was still shy of the $13.91 billion that analysts had forecast, according to a FactSet survey.


Average daily shipments in the U.S. rose 4.2 percent, but at the same time, revenue per package fell at home and abroad as customers shifted toward lower-priced services.


UPS said that full-year earnings would be at the low end of its earlier forecast of between $5.05 and $5.30 per share. Analysts expect $5.18 per share.


Shares of UPS Inc. fell $1.31 to $97.93 before the opening bell Thursday. They are down 6 percent so far in 2014.



BC-Noon Oil


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STL issues summons for top Lebanese editors


BEIRUT: The Special Tribunal for Lebanon issued Thursday summons for the editors of Al-Akhbar newspaper and Al-Jadeed television, accusing them of contempt and obstructing justice by publishing the names of alleged witnesses.


Karma Mohamed Tahsin al-Khayat from Al-Jadeed as well as the station’s parent company NEW TV S.A.L. have been summoned “to appear before the STL on two counts of contempt and obstruction of justice,” the U.N.-backed said in a statement.


Ibrahim Mohamed Al-Amin from Al Akhbar and the newspaper’s parent company Akhbar Beirut S.A.L. have also been summoned for similar charges.



Southwest Airlines posts a record 1Q profit


Southwest Airlines Co. said Thursday that it made a record $152 million in the first quarter, more than doubling the $59 million it earned during the same time last year.


The strong profit during a time of year that is traditionally the slowest for airlines is good news for the Dallas-based carrier, which has been struggling to integrate AirTran into its system following its 2010 acquisition.


Southwest earned 22 cents per share, up from 8 cents per share in the same period last year. Excluding special items, the profit was 18 cents per share, beating the 16 cents expected by Wall Street analysts surveyed by FactSet.


Revenue climbed 2 percent to $4.17 billion — just shy of the $4.18 billion that analysts predicted.


The average one-way fare rose 3.1 percent to $156.96.


Spending on fuel dropped 9.8 percent from a year ago, offsetting a 7.8 percent increase in labor costs.


Chairman and CEO Gary Kelly said the company posted record earnings for any first quarter despite the weather-related cancelations of more than 7,500 flights. He estimated that winter storms reduced Southwest's operating profit by $50 million.


Kelly said the second quarter was "off to a great start" with strong bookings and revenue trends plus stable prices for jet fuel.


Shares added 8 cents to $24.16 in morning trading. They began the day up 28 percent so far this year.



3M 1Q results improve, but miss Street's view


3M's first-quarter net income rose 7 percent, led by sales growth in its health care business.


The maker of products from Post-it notes to industrial coatings and ceramics said Thursday that it earned $1.21 billion, or $1.79 per share, for the three months through March 31. A year earlier it earned $1.13 billion, or $1.61 per share.


Earnings were a penny shy of analysts' expectations, according to FactSet.


Shares of 3M fell 2.4 percent to $135.63 before the market open.


Revenue increased 3 percent, to $7.83 billion from $7.63 billion, but missed the Wall Street forecast of $7.97 billion.


Fluctuations in currency values lowered revenue by 2 percent. 3M Co. gets a considerable amount of revenue from outside the U.S., making it susceptible to currency swings.


Sales in the health care unit rose nearly 5 percent and were also higher for the industrial, safety and graphics, and electronics and energy divisions. Sales dipped in the consumer business, which ranges from stationery and office supplies to home care products.


When stripping out the effect of changing foreign exchange, sales growth was strongest in Asia and 3M's Latin America/Canada division.


The company kept its profit forecast for the year of $7.30 to $7.55 per share.



Smart Spending: Get your groove on, on a budget


As the air gets warmer and spring blossoms, the season of music festivals is upon us. From Bonnaroo Music & Arts Festival in Tennessee in June to Lollapalooza in Chicago in August, music lovers across the country will soon begin to flocking to festivals, which can draw hundreds of thousands of fans.


It's easy to get caught up in the excitement and spend a bundle, on everything from tickets to accommodations to bottles of water. But with a little foresight, it's easy to cut down on excess spending and enjoy the music and excitement without breaking the bank.


BEFORE YOU GO: Tickets are usually pricey, but If you plan enough in advance, you can at least shave off a little money and buy with early-bird discounts. For cheaper rates, consider if you want to buy a day pass or two instead of a full festival pass.


Camping is the cheapest lodging option of course. But if that is not an option, or if you prefer to stay at a hotel, book your hotel first, before your airfare, recommends Andrew Young, editorial director, North America of travel site Travelzoo. The cheapest hotel rooms book up quickly, and flights can be more flexible.


Also make sure to check for a secondary airport in the region of the festival that might have cheaper fares. And if you have a day or two to spare for your vacation, come a day early and leave a day late, when airfare will likely be cheaper, Young says.


The more information you have, the more likely you are to make smart spending choices. Download the festival's own app as well as apps like Festival Ready, which includes navigation and weather forecasts. Yelp and travel apps like Travelzoo or Expedia can also help you find your way around or get last-minute discounts on spots around town.


Carpooling is one of the best ways to save, Young says, and there are even some hidden benefits when festivals seek to reward carpoolers. At Coachella earlier this month, for example, carpoolers with four or more people in the car could print out a sign for their dashboard that said "Carpoolchella," and were entered into a contest that could result in winning VIP tickets to Coachella for life and other prizes. Check with the festival you're attending to see if it does anything similar.


AT THE FESTIVAL: If you're committed to saving cash, consider volunteering. That has the obvious advantage of getting you into the festival free, but make sure you consider the drawbacks, Young says.


"Those lists often fill up quick, and depending on what's involved, you may see the festival from a distance, but you may get a little bit of off time," he says. "Whether you volunteer depends on what your willingness is to work during the festival."


The biggest money drain can be things that you could have brought if you'd just prepared in advance. Water is a big one. It can cost several dollars a bottle, and when you're out all day in the scorching heat, that can add up. Bring your own water, or if the festival does not allow that, bring a water bottle or CamelBak. Most festivals are required to offer free drinkable water, though it might be well water that doesn't taste the greatest.


Bringing snacks if the festival allows that can save a lot of dough, too. And make sure you have essentials like sunscreen and a hat, so you don't have to buy them at the festival at a markup. Young recommends buddying up with fellow festivalgoers and dividing up what to bring, so you don't end up with seven bottles of sunscreen but no Band-Aids.



Obama: Japan's Administration Of Disputed Islands Shouldn't Change



President Obama speaks as he attends a joint news conference with Japan's Prime Minister Shinzo Abe at the Akasaka State Guest House in Tokyo, on Thursday. Obama reinforced the U.S.-Japan security commitment.i i


hide captionPresident Obama speaks as he attends a joint news conference with Japan's Prime Minister Shinzo Abe at the Akasaka State Guest House in Tokyo, on Thursday. Obama reinforced the U.S.-Japan security commitment.



Junko Kimura-Matsumoto/AP

President Obama speaks as he attends a joint news conference with Japan's Prime Minister Shinzo Abe at the Akasaka State Guest House in Tokyo, on Thursday. Obama reinforced the U.S.-Japan security commitment.



President Obama speaks as he attends a joint news conference with Japan's Prime Minister Shinzo Abe at the Akasaka State Guest House in Tokyo, on Thursday. Obama reinforced the U.S.-Japan security commitment.


Junko Kimura-Matsumoto/AP


President Obama on Thursday said the U.S. believes that Japan's administration of the Senkaku islands, which China also claims, should not change "unilaterally," as he assured Tokyo that U.S. security guarantees "covers all territories administered by Japan."


Obama, on the first stop in a week-long swing through the Asia-Pacific region, spoke alongside Japanese Prime Minister Shinzo Abe. As The New York Times notes, the president issued a "carefully calibrated statement" that "stopped short of siding with Japan in the dispute over who has sovereignty over the islands," which Beijing calls Diaoyu.


"Historically, [the islands] have been administered by Japan, and we do not believe that they should be subject to change unilaterally," Obama said, according to the Times. "What is a consistent part of the alliance is that the treaty covers all territories administered by Japan."


"[The] U.S.-Japan alliance is the foundation for not only our security in the Asia Pacific region but also for the region as a whole," the president said after a meeting between the two leaders.


"And we have continued to strengthen it. We are looking at a whole range of issues that are challenging at this time, including the threats posed by North Korea and the nuclearization that's been taking place in that country," Obama said.


Abe, who spoke first, said the U.S.-Japan alliance "is indispensable and irreplaceable as the foundation for a peaceful and prosperous Asia-Pacific region.


"[Together] with the United States, Japan would like to realize our leading role of the alliance in ensuring a peaceful and prosperous Asia Pacific," Abe said.


However, the Times says Obama's message "was partly vitiated by the failure to conclude a trade deal with Japan. Despite frantic, round-the-clock talks, negotiators failed to close the gaps on issues like access to Japan's beef and pork markets — further bogging down the Trans-Pacific Partnership, a regional trade pact that is a central pillar of Mr. Obama's Asian strategy.




"With little to announce on the trade front, Mr. Obama and Mr. Abe kept the focus on managing rising tensions in the East China Sea, where China last year imposed an air defense identification zone as a way of asserting its sovereignty over those waters."





Verizon 1Q profit surges on Vodafone-related gains


Verizon's $130 billion deal to take over of all of Verizon Wireless is helping lift its profit.


The largest U.S. cellphone carrier on Thursday posted a 23 percent profit increase in its first quarter, during which it completed the acquisition of the 45 percent stake in its wireless division from British cellphone carrier Vodafone Group PLC.


Verizon is reaping the benefits of higher profits and full access to Verizon Wireless' cash flows now that the deal has closed, said Verizon CFO Francis Shammo on a conference call with investors.


Verizon Communications Inc. said its first-quarter net income rose to $5.99 billion, or $1.15 per share, from $4.86 billion, or 68 cents per share, in the January-March quarter of 2013.


Excluding one-time items, profit came to 84 cents per share in the most recent quarter. Analysts' average estimate was 86 cents per share, according to FactSet.


Revenue rose 5 percent to $30.82 billion from $29.42 billion. Wall Street projected $30.66 billion.


The recent quarter's results included about five weeks of contributions from the Vodafone acquisition.


Total revenue at Verizon's wireless business increased 7 percent to $20.9 billion. The company added a net 549,000 new devices to its network during the recent quarter. Of that, 539,000 were connections that involved monthly service contracts — the high-value, long-term customers.


At the end of the first quarter, Verizon had 103.3 million devices on its network, including 97.3 million involving monthly service contracts, up 4 percent from the year before.


Meanwhile, revenue at the company's arm that provides landlines along with its FIOS internet and TV services rose 6 percent to $3.8 billion, boosted by higher demand for FIOS.


The company added a net 98,000 new FIOS Internet connections and a net 57,000 new FIOS video connections during the first quarter.


As of the end of the period, Verizon had 6.2 million Internet subscribers, up 10 percent from a year ago, and 5.3 million video connections, which rose 9 percent.


Shares of New York-based Verizon fell 73 cents to $46.70 in morning trading.



Canada moves ahead of U.S. in phasing out older tank cars for shipping crude oil


In response to a deadly train derailment last summer, the Canadian government Wednesday ordered the country’s railroads to phase out tens of thousands of older, puncture-prone tank cars from crude oil transportation within three years.


Though Transport Canada and its U.S. equivalent, the Department of Transportation, have been working together to address widespread concerns about the safety of moving large quantities of crude oil and ethanol in trains, the announcement puts Canada a step ahead.


Both countries historically have harmonized their regulation of rail transportation because of the seamless nature of North America’s rail system. Canada’s two largest railroads have significant operations in the United States.


Both governments have been working on new rules since last summer’s disaster in Lac-Megantic, Quebec, where 47 people died in a fire ignited by Bakken crude oil spilled from a derailed train. The cargo originated in North Dakota, and had the train reached its destination in New Brunswick, it would have crossed the border three times.


Large oil spills and fires from derailments late last year in Alabama and North Dakota underscored that the problem isn’t confined to one side of the border.


The general purpose model DOT-111 tank cars on those trains have long been considered by the National Transportation Safety Board to be vulnerable in derailments, and the agency had recommended improvements after multiple accidents over the years.


In the second day of a two-day hearing on rail safety in Washington, NTSB members expressed their impatience with the two federal agencies tasked with developing the new tank car regulations _ the Pipeline and Hazardous Materials Safety Administration and the Federal Railroad Administration.


The railroad industry originally petitioned the Transportation Department for the new rules three years ago.


Board member Robert Sumwalt said he feared that the regulation would get tangled up in additional reviews that could take until the end of the year. In the meantime, he said, U.S. communities might get left behind their Canadian counterparts in increased safety.


Earlier Wednesday, emergency response officials testified that most fire departments lacked the resources and training to deal with a rail disaster of the size seen recently.


“When is DOT going to step up to the plate?” Sumwalt asked.


Magdy El-Sibaie, associate administrator of the Pipeline and Hazardous Materials Safety Administration, said the agency is working “around the clock” to finish the new rules.


“If it was up to me only, it would be yesterday,” he testified.


Transport Canada didn’t just require the retirement or retrofit of older tank cars. It also banned 5,000 DOT-111 rail cars made of inferior steel from carrying crude oil and ethanol within 30 days. Such cars could continue to haul those commodities in the U.S.


Canada also required railroads to develop emergency response assistance plans for communities through which they ship hazardous goods. Such efforts are generally voluntary in the U.S.


“I am committed to making our country a model of world class safety,” Canadian Transport Minister Lisa Raitt said in a statement. “The measures I am announcing today improve the safety of the railway and transportation of dangerous goods systems from coast to coast to coast.”


U.S. Transportation Secretary Anthony Foxx was scheduled Thursday to visit Casselton, N.D., the site of a large crude oil spill and fire from a December train derailment. His office did not respond to requests for comment on Raitt's announcement.


Kevin Thompson, a spokesman for the Federal Railroad Administration, applauded the Canadian efforts and said the two countries would work together to improve safety, “including the possibility of an even more advanced tank car than is currently in use.”


“Our countries have different processes,” he said, “but we have the same goal: the safe transport of goods and people on the rails.”


The trade group for the largest U.S. railroads backed Raitt’s move. The Association of American Railroads asked the Transportation Department for tougher tank car regulations three years ago. But it improved the standards on its own rather than wait. Transport Canada on Wednesday embraced the 2011 industry standard, called CPC-1232, but the railroad association has recently called for the adoption of an even more robust tank car design.


On Tuesday, Robert Fronczak, the association’s assistant vice president for hazardous materials, told the NTSB that the CPC-1232 cars, while an improvment, were still not adequate for crude oil service.


In a statement Wednesday, Ed Hamberger, the association’s president and CEO, called Canada’s timeline “aggressive” and said, “We are confident that the industry will do all it can to meet it.”



Khodorkovsky criticizes Putin at Kiev forum


Mikhail Khodorkovsky, once Russia's most famous prisoner, has harshly criticized Russian President Vladimir Putin over the annexation of Crimea and Russian pressure against Ukraine.


Khodorkovsky, who spent 10 years in prison in a case widely seen as political revenge by Putin, opened a conference in Kiev devoted to fostering ties between Ukraine and Russia. He said Thursday that Putin was being petty and vengeful against a democratic uprising and that he and many other Russians are opposed to Putin's policies on Ukraine.


He also said "no dictator, however powerful he is, can turn us into enemies."


Participants at the conference included the most prominent Kremlin critics and thinkers. Khodorkovsky also suggested that major changes await Russia "and the wildest dreams today become reality tomorrow."



Police union chief wants more Miami cops at Ultra


The head of Miami's police union says the Ultra Music Festival should replace private security guards with city police officers.


In a proposal sent Wednesday to city commissioners, Miami Fraternal Order of Police President Javier Ortiz said security guards lack the training, experience and authority to handle crowds at the annual festival.


A guard was seriously injured after being trampled by gate-crashers at Ultra in March. City officials are considering whether to halt the three-day festival.


Ortiz also says concert-goers would be subject to pat-downs by officers, and he would prohibit duffel bags, cameras, computers, drugs, weapons and outside food and beverages.


Ultra recently hired the outgoing Miami Beach police chief as its new security director. An internal review of the festival's security is pending.



China set to punish web giant Sina for pornography


China plans to revoke two crucial publication licenses for Sina.com, which might partially ban the web giant's operations, because obscene content was found during an anti-pornography crackdown, state media said Thursday.


Sina apologized for "the suspected problem" of pornographic content on its literature and video sites. It said in a statement on its website that it felt "sorry and ashamed" for lax monitoring and that it had moved quickly to rectify the problem.


Citing a statement from the National Office Against Pornographic and Illegal Publications, the official Xinhua News Agency said authorities had found 20 articles and four videos containing pornographic and lewd content following public tip-offs. Some people are being investigated by police as a result, it said.


"Some of these articles were as long as 500-plus chapters and clocked millions of clicks... imperiling social morals and seriously harming minors' physical and mental health," Xinhua quoted the statement as saying.


It said the state broadcasting authority had therefore decided to revoke Sina's licenses on Internet publishing and online audiovisual broadcasting and impose "a large number of fines." Calls to the State Administration of Press, Publication, Radio, Film and Television rang unanswered Thursday evening.


China's Communist authorities heavily police the Internet for content deemed obscene or politically subversive. Twitter, Facebook, and other Western social media sites are blocked.


In the government's latest campaign against online pornography, the State Internet Information Office had shut down 110 websites and some 3,300 accounts on China-based social networking sites as of the past weekend, according to Xinhua.


Sina Corp., which fell 7.5 percent in early trading on Nasdaq, offers entertainment, games and other content on the Internet and mobile platforms and operates Sina Weibo, the country's most popular microblog service.


Mark Natkin, managing director of Marbridge Consulting, a Beijing-based internet and mobile research company, said he didn't think the revoking of Sina's licenses would be permanent.


"Very frequently things of this nature are very campaign-based and as such temporary," he said. "There's some window given to the company to clean up."



American Airlines swings to $480M 1Q profit


American Airlines is making money again and beating expectations after its merger with US Airways.


The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.


The profit works out to 65 cents per share, easily topping analyst projections for 48 cents per share.


Revenue rose 5.6 percent to $10 billion, just below analyst forecasts of $10.02 billion.


American Airlines Group Inc., formed by the December merger, is the largest airline in the world.


Shares of the Fort Worth, Texas, carrier are higher in premarket trading.



Mufti, Iranian envoy urge unity against takfiris


BEIRUT: Iranian Ambassador to Lebanon Ghazanfar Roknabadi and Grand Mufti Mohammad Rashid Qabbani stressed the need for religious unity against takfiris in the region, a statement from Qabbani’s office said after the two held a meeting.


Both the mufti and the envoy agreed on the need to preserve unity between various Muslim sects and other religions especially as the country is witnessing plots concocted by “terrorist takfiri groups guided by the Zionist enemy.”


Roknabadi visited the mufti to hand him in an invitation to an upcoming event in Malaysia, titled "Defense Conference for the Aqsa Mosque and al-Quds.”


The event is set to take place in the presence of various Muslim scholars.


The ambassador also said his country believes that a “Lebanese president chosen by the entire Lebanese people is the most suitable choice.”


He said Iran supports stability and national unity in Lebanon and voiced confidence Lebanon would get over the presidential election phase with success.



Pirates pilfer fuel from Thai tanker off Malaysia


Pirates pilfered diesel fuel from a Thai tanker off Malaysia's east coast, making two attacks in a week and raising concerns of a rising threat to shipping, a maritime watchdog said Thursday.


The International Maritime Bureau said the tanker was sailing from Singapore to Cambodia when it was boarded by 16 pirates about 26 nautical miles off Aur island on the east coast of the peninsula late April 17.


The pirates, armed with swords and guns, damaged the ship's communication equipment, transferred part of the fuel cargo into a smaller unknown tanker and stole the ship and crews' belongings before fleeing, said Noel Choong, who heads the IMB's piracy reporting center in Kuala Lumpur.


A similar theft followed just five days later. The pirates stopped a Singapore tanker in the Malacca Strait off Malaysia's west coast and stole part of its diesel cargo worth $2.5 million.


"It is the same modus operandi and could be the work of the same syndicate targeting the same cargo that left from the same port," Choong said. "It's a concern that these two incidents happened in a short time. We hope the authorities can nip it before it gets worse."


He said the captain of the Thai ship sustained minor injuries. The ship continued its journey and reached Cambodia on April 20 but only reported the theft to the IMB on Wednesday, he said.


The IMB has warned ships to maintain a strict piracy watch.


Three Indonesian crew members of the Singapore tanker, including the captain and chief engineer, disappeared along with their belongings during the pirate attack. Authorities are investigating if they were abducted or were involved in the sea robbery.


Piracy, mainly low-level thefts, had been declining following maritime patrols by the three countries, but attacks appeared to have picked up last year in Malaysian and Indonesian waters.



Zimmer buying Biomet in deal valued at $13.35B


Orthopedic device maker Zimmer is buying privately-held Biomet for about $13.35 billion in a move aimed at helping expand its product offerings and services.


Even though it is the buyer, Zimmer shares rose more than 16 percent in premarket trading Thursday.


Zimmer Inc. will pay $10.35 billion in cash and issue shares of its common stock valued at $3 billion to Biomet Inc.'s equity holders. The companies said that the deal's total value also includes the assumption of an unspecified amount of debt.


"The transaction positions the combined company as a leader in the musculoskeletal industry with a broad portfolio of products, technologies and services, enabling us to help shape how solutions are developed and delivered," Zimmer President and CEO David Dvorak said in a statement.


Biomet President and CEO Jeffrey Binder said that the deal will prepare Biomet "to compete as a stronger entity in the medical device industry in the future."


Zimmer stockholders are expected to own about 84 percent of the combined company, with shareholders of Biomet targeted to own approximately 16 percent. The combined company will be based in Warsaw, Ind. and conduct business under a consolidated name.


Dvorak will serve as president and CEO of the combined company. Two of Biomet's principal stockholders will serve on the combined company's board.


Zimmer said the cash portion of the deal will be funded with existing cash on hand and proceeds from a newly committed $3 billion senior unsecured term loan and newly issued senior notes.


Zimmer Holdings Inc. anticipates annual savings of about $270 million by the third year after the transaction's closing. Approximately $135 million in savings is foreseen in the first year.


The deal is expected to close in 2015's first quarter.


Zimmer's stock gained $15.24, or 16.7 percent, to $106.69 in premarket trading about 45 minutes ahead of the opening bell.



Pa. township approves permits for airport drilling


Supervisors in a western Pennsylvania township have approved permits for a company to drill for natural gas at Pittsburgh International Airport with almost two dozen conditions.


Findley Township supervisors voted 2-1 to approve the conditional use permits but included noise and light disturbance limits, requirements for flaggers and safety vehicles at entrances to the site, a ban on injection wells and other caveats.


A proposal to require one well pad moved further away from a residential development was rejected.


Consol Energy Inc. hopes to start drilling this year. Allegheny county officials say the deal could generate more than $500 million in royalties over the next few decades.


After the vote, company president Nick DeIuliis vowed that the project would be a model of safe and responsible natural gas development.



F1 boss Bernie Ecclestone rejects bribery charges


Formula One boss Bernie Ecclestone rejected accusations of bribery as he went on trial Thursday in a case that could threaten his grip on the sport, telling a Munich court that he was blackmailed by a German banker who received a disputed $44 million payment.


Ecclestone said at the beginning of a four-hour personal statement read out in German by his lawyers that he was "grateful" to be able to give his side of the story — though he told judges that he would answer questions from the Munich state court through his lawyers, rather than personally.


The 83-year-old Ecclestone is charged with bribery and incitement to breach of trust, and could face up to 10 years in prison if convicted. The charges involve a $44 million payment to banker Gerhard Gribkowsky, who is serving an 8½-year sentence for taking the money. Ecclestone appeared in court in a dark three-piece suit and followed the proceedings closely with help from an interpreter whispering into his ear.


Prosecutors allege the payment was meant to facilitate the sale of Munich-based bank Bayern LB's stake in Formula One to a buyer of Ecclestone's liking. Gribkowsky was in charge of selling that 47 percent stake in F1 in 2005.


Ecclestone testified during Gribkowsky's trial in 2011 and Gribkowsky is expected to be the main witness during Ecclestone's trial, which is scheduled to last until Sept. 16.


Gribkowsky was found guilty of corruption, tax evasion and breach of trust in a trial led by the same judge who is hearing Ecclestone's case, Peter Noll.


The defense made clear that it will attack Gribkowsky's credibility, and Ecclestone said in his statement that the banker didn't tell the truth.


In Thursday's statement, Ecclestone reiterated testimony he gave at Gribkowsky's trial that he gave the banker the money because he was "blackmailed" and worried Gribkowsky would falsely accuse of him of being in charge of a trust fund set up for the Formula One boss's former wife and their children — possibly incurring a huge British tax bill.


Ecclestone said that "from today's point of view, it was not a rational decision" to pay Gribkowsky.


"I saw my life's work in danger" if Gribkowsky went to the British tax authorities, he said, adding that he wouldn't have been able to pay the resulting bill.


Ecclestone said he had turned over his entire stake in Formula One to his then-wife, Slavica, and their two daughters in 1997 following a series of operations and a health scare that left him worried his wife would face a 40 percent inheritance tax.


He said he ran the day-to-day business of Formula One but hasn't owned any stake in the lucrative series since 1997.


Ecclestone's lawyers also insisted anew that their client is innocent, saying in a written statement that "the alleged bribe has not occurred."


They argued that the indictment is based on statements by Gribkowsky that are "incorrect, misleading and incoherent" and said they would produce new documents at the trial to dispute Gribkowsky's assertions.


Ecclestone said he thought Gribkowsky wanted out of banking and had been interested in founding his own Formula One team.


Ecclestone has stepped down temporarily as a director of F1's holding company pending the outcome of the trial, though he continues to manage the sport's commercial operations on behalf of investment fund CVC Capital Partners, which has a controlling stake in the web of companies which run the commercial side of the sport.


Ecclestone, who built his powerbase in F1 starting in the 1970s, likely would be unable to remain in charge if convicted — even if he avoids a prison sentence.


The trial will continue May 2.



Associated Press writer Geir Moulson in Berlin contributed to this report.


Tokyo court starts Mt. Gox bankruptcy proceedings


Bankruptcy proceedings began Thursday for the Mt. Gox bitcoin exchange, a move that was widely expected after the Tokyo District Court decided earlier this month that the company would not be able to resurrect itself.


An administrator will try to sell its assets, but many creditors, including those who had bitcoins with the exchange, might not get their money back.


After Mt. Gox went offline in February, its CEO, Mark Karpeles, said tens of thousands of bitcoins worth several hundred million dollars were unaccounted for.


Under the bankruptcy proceedings, Karpeles' liability will be investigated, Mt. Gox said in a statement.


Mt. Gox has suggested the bitcoins were stolen. The company has not been able to confirm the bitcoin balances of its users, although they can look at a balance on a website that is no guarantee for a claim, it said.


Bitcoins, created in 2009, are used for transactions across borders without third parties such as banks and have become a popular investment.


Mt. Gox said in a statement that a meeting for creditors will be held in July, and a report of its outcome will be shared on its website for those who can't attend.



Miami Beach opposes Beckham's soccer stadium plan


Miami Beach officials and residents say building a Major League Soccer stadium at PortMiami would create a traffic nightmare.


The city held a town hall meeting Wednesday to discuss David Beckham's proposal to build a 25,000-seat stadium on Miami-Dade County land.


Miami Beach commissioners passed a symbolic vote earlier this month welcoming professional soccer to South Florida but opposing the stadium proposal. The Miami Herald (http://hrld.us/1tGclZ9 ) reports that residents echoed those sentiments, saying a stadium at the port would add to the heavy traffic already clogging the highway that connects Miami Beach with downtown Miami.


A traffic expert for the city of Miami Beach says a preliminary analysis of the stadium proposal shows that the number of vehicles per hour on the MacArthur Causeway would increase from 2,700 to 5,100.



U.N. urges Lebanon to complete election on time


BEIRUT: U.N. Special Coordinator for Lebanon Derek Plumbly urged lawmakers Thursday to complete the presidential election before the Constitutional deadline, a day after Parliament failed to elect a candidate.


“I should take the opportunity in light of yesterday’s events to stress the priority that we attach to the continuity of state institutions and in that sense to welcome the beginning of the presidential election process yesterday and to underline our concern that it be completed successfully within the timeframe set by law,” Plumbly said.


His comments came during a brief chat with reporters at the Grand Serail following a meeting with Prime Minister Tammam Salam.


MPs failed Wednesday to elect a new president in the first round of polls in Parliament with presidential hopeful Samir Geagea receiving 48 votes while 52 lawmakers opted to cast a blank ballot.


Speaker Nabih Berri scheduled April 30 for the second round of voting in which a nominee should receive 65 votes to win.


Plumbly also said he discussed with Salam the security plan aimed at restoring law and order in the country, saying he expressed appreciation for the measures.


The U.N. official said he stressed the “international community’s support for Lebanon’s security and the steps this government is taking.”


“Specifically, on the army, we had a meeting in Rome two weeks ago which was a preparatory one designed to reinforce international efforts to assist the Lebanese army,” he said.


The two also spoke about the Syrian refugee crisis in Lebanon, with over one million refugees.


“I emphasized our continued support for the government as it tries to address the very immediate challenges, our understanding of the size of the challenge facing Lebanon and the readiness of the United Nations to stand side by side with Lebanon including, of course, in providing assistance to host communities,” he said.



Dunkin' says bad weather hurt profit


Dunkin' Brands on Thursday reported a lower profit for its first quarter, citing severe weather for dampening its U.S. sales.


Its net income and sales missed Wall Street expectations and shares fell 3 percent to $47.59 in premarket trading.


The company, which also owns ice cream chain Baskin-Robbins, nevertheless stood by its outlook for the year.


At Dunkin' Donuts stores in the U.S., which account for nearly three-quarters of the company's sales, sales edged up 1.2 percent at established locations. The company said people spent more on average per visit, in part because they traded up to pricier options. But it noted that sales growth was hampered by bad weather.


McDonald's Corp. earlier this week also cited bad weather for a 1.7 percent decline in sales in the U.S. By contrast, Chipotle reported a 13.4 percent increase at locations open least a year during the period.


Sales fell 2.4 percent at established Dunkin' Donuts stores overseas. Sales at Baskin-Robbins stores in the U.S. edged up 0.5 percent, while international locations saw a 1.4 percent increase.


For the three months ended March 29, Dunkin' earned $22.96 million, or 21 cents per share. Not including one-time items, it said earned 33 cents per share, which was still below the 36 cents per share Wall Street expected.


A year ago, it earned $23.8 million, or 22 cents per share.


Revenue rose to $171.9 million, also short of the $172.4 million analysts expected, according to FactSet.


Dunkin' Brands Group Inc. said it still expect U.S. sales at established locations to increase 3 percent to 4 percent for the year. Adjusted earnings are expected to be $1.79 to $1.83 per share.



Mukhtar, prisoner flee after fight with police


TRIPOLI, Lebanon: A prisoner managed to escape in the confusion following a fight between a local mukhtar and police outside the Justice Palace in Tripoli Thursday. The mukhtar fled and is being pursued by authorities.


The scuffle between Mina Mukhtar Abdullah al-Baqqa and police broke out after Baqqa insisted on entering the Justice Palace through an entrance reserved for lawyers.


When Baqqa roughed up a police Captain in charge of the facility’s security, he was thrashed by policemen but managed to escape, a security source told The Daily Star.


The source said an inmate from the nearby Qibbeh jail who had just been brought to the Justice Palace in response to a court summons also managed to escape the police's grasp during the uproar.


North Lebanon Prosecutor Amr Hamzi issued a warrant for Baqqa’s arrest, a move that angered fellow mukhtars, including Tripoli Mayor Nassif Kaloush, who protested.


Hamzi, however, has insisted Baqqa hands himself in to court.



United loses $609M in 1Q; fares don't cover costs


United Airlines is the one U.S. carrier that can't seem to get its act together, losing $609 million during the first three months of this year.


The airline, in part, blamed "historic severe" winter weather for its loss. But by comparison, Delta Air Lines made $213 million in the quarter, despite dealing with the same nasty storms.


Chicago-based United is still struggling following its 2010 merger with Continental Airlines. In the first quarter, its cost for each mile passengers flew rose 1 percent, but its related revenue fell 2 percent.


United lost $1.66 per share, worse than the $1.26 per share it lost during the same period last year. Excluding special items, the loss was $1.33 per share, barely beating the $1.35 loss expected by Wall Street analysts.



Marlboro maker Altria 1Q profit falls


Altria's first-quarter profit dropped 15 percent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited lower expenses from a longstanding legal settlement.


The owner of the nation's biggest cigarette maker, Philip Morris USA, posted earnings Thursday of $1.17 billion, or 59 cents per share. That's down from $1.38 billion, or 69 cents a share, in the year-ago period.


Excluding one-time items, earnings were 57 cents per share, matching Wall Street expectations.


Altria Group Inc., based in Richmond, Va., said that revenue, excluding excise taxes, increased less than a percent to $4.01 billion. Analysts polled by FactSet expected $4.03 billion.


Cigarette shipments fell 2.5 percent to 29 billion cigarettes. Volumes of its premium Marlboro brand fell about 2 percent. Smokeless tobacco volumes grew about 6 percent.



Electric Boat, labor union agree to new contract


A labor union for 2,200 workers at submarine maker Electric Boat has agreed to a new, five-year contract through 2019 that includes annual pay raises of 3 percent or more.


The Day of New London reports (http://bit.ly/1f9oHoh ) that members of the Metal Trades Council approved the contract Tuesday on a vote of 1,307 to 277. The union includes machinists, electricians, painters, pipefitters and professional employees.


EB President Jeff Geiger says the contract provides stability and allows the company and workers to focus on making two submarines a year for the Navy with partner Newport News Shipbuilding in Virginia.


Electric Boat, a subsidiary of General Dynamics Corp. of Falls Church, Va., employs more than 12,000 people in Groton and North Kingstown, R.I.


The contract also includes pension increases for current workers.



German defense minister in Lebanon for talks


BEIRUT: German’s Defense Minister, Ursula von der Leyen, held talks with Lebanese officials Thursday to discuss her country’s support for the Lebanese Army and Syrian refugee crisis in Lebanon.


Von der Leyen met with President Michel Sleiman at Baabda Palace and the two discussed Germany's participation in the U.N. Force in Lebanon as well as assistance to the Lebanese Army via the International Support Group for Lebanon, which aims to preserve political and economic stability, Sleiman’s office said.


They discussed the situation in the region, particularly the conflict in Syria, and means to help Lebanon address the overwhelming number of Syrian refugees.


They also discussed the Middle East peace process.


Von der Leyen also met with Prime Minister Tammam Salam in his Mosaitbeh residence.


“It was a constructive meeting and important. I was moved by the prime minister's personality and the way he told us about the formation of a government that is stable and unifying,” Von der Leyen told reporters after the meeting.



Russia to lend a hand to Lebanese Army: Lavrov


BEIRUT: Russia will work to boost the capacities of the Lebanese Army, Foreign Minister Sergei Lavrov said Thursday, adding that his country respects the democratic process in Lebanon.


Russia will enhance military cooperation with Lebanon, mainly by reinforcing the defense capabilities of the Lebanese Army and security forces,” Lavrov said during a joint press conference with his Lebanese counterpart Gebran Bassil in Mosow.


“We will present our contributions to the international community in the plan to reinforce the Lebanese Army and the state institutions,” he said, in reference to the plan by the International Support Group for Lebanon.


Lavrov also said Russia would not interfere in the Lebanese presidential election.


“The presidential election is a Lebanese affair... Russia does not have any preferences concerning the presidential election,” he said. “We are looking forward to the presidential election."


"Electing a new president could unite the Lebanese society," he added.


He said that “Lebanon is a complicated country and the constitution should be respected by everyone,” adding that his country will coordinate with anyone elected as new head of state.


For his part, Bassil said that Russia can play a prominent role in contributing to political stability in Lebanon and the Middle East.


He also said that Lebanese and Russia should cooperate regarding Lebanon's oil resources and the Syrian refugees crisis. Lavrov proposed a “systematic solution” for the refugee issue rather than “temporary humanitarian assistance.”


Bassil, a former Energy Minister, said Russia should take part in oil and gas exploration in the seabed off Lebanon's coast.


The foreign minister left Beirut Wednesday heading to Moscow on a two-day official visit to hold talks with Russian officials on bilateral ties and Russia’s role in the region.



Aetna's 1Q profit jumps 36 pct, forecast climbs


Aetna says its first-quarter net income soared 36 percent, fueled by gains from a multi-billion-dollar acquisition. The health insurer raised its 2014 earnings forecast.


The Hartford, Conn., insurer earned $665.5 million, or $1.82 per share, in the January-March period. That's up from $490.1 million, or $1.48 per share, a year earlier.


Adjusted earnings totaled $1.98 per share, not counting charges. Analysts forecast earnings of $1.53 per share.


Revenue jumped 47 percent to $13.99 billion. Analysts expected about $13.6 billion in revenue.


Aetna closed its $6.9 billion acquisition of Medicare and Medicaid coverage provider Coventry Health Care last May.


The insurer says it now expects 2014 adjusted earnings to range between $6.35 and $6.55 per share. It had previously forecast at least $6.25 per share.


Analysts expect $6.31 per share.



Platini: No Champs League bans in 1st FFP cases


UEFA President Michel Platini says clubs won't be excluded from next season's Champions League for breaking "Financial Fair Play" rules.


Platini tells French daily Le Parisien "there will be some tough things ... but if you're expecting blood and tears, you'll be disappointed."


A UEFA panel is negotiating with clubs which breached rules designed to curb huge investments by owners and excessive spending on transfers and wages since 2011.


Platini is "not sure" if Qatar-owned Paris Saint-Germain's "innovative" sponsorship deal with Qatar Tourism Authority played by the rules.


He says UEFA will announce some sanctions in early-May, and more serious cases are judged in June.


Champions League expulsion is the toughest sanction UEFA reserves. First and lesser offenders likely face fines and limits on registering players for UEFA competitions.



Starwood rides economic recovery to strong 1Q


Starwood's first-quarter net income declined 36 percent compared with last year when it booked some big asset sales, but it easily beat Wall Street expectations for profit and revenue.


The owner of Sheraton and St. Regis hotels earned $137 million, or 72 cents a share, for the period ended March 31. That compares with $213 million, or $1.09 a share, a year ago.


Removing tax benefits and an impairment charge, earnings from continuing operations were 63 cents per share, 7 cents better than what analysts polled by FactSet had projected.


Revenue slipped 5 percent to $1.46 billion, but that still edged out Wall Street's expectations for revenue of $1.44 billion.


Worldwide revenue per available room, a key industry metric, rose 6.3 percent. North American activity surged on rising business travel during an economic recovery that appears to be gaining momentum. CEO Frits van Paasschen said activity also ramped up in China.


Van Paasschen said that the Stamford, Conn., company is concentrating on expanding its global footprint and adding hotels that will help broaden its base of high-end travelers that are more loyal to brands.


Starwood Hotels & Resorts Worldwide Inc. has almost 1,200 properties in 100 countries.


The lodging company anticipates full-year earnings of about $2.76 to $2.83 per share. It predicts second-quarter earnings of approximately 72 to 76 cents per share.


Analysts expect full-year earnings of $2.79 per share and second-quarter earnings of 76 cents per share.



Canon sees profit gain on weak yen, rising sales


Japanese camera and office equipment maker Canon Inc. on Thursday reported a hefty 16 percent gain in profit for the first fiscal quarter, largely on a favorable exchange rate, but such strong growth wasn't expected to hold up.


Canon's January-March net profit totaled 47.6 billion yen ($467 million) on quarterly sales of 868.3 billion yen ($8.5 billion), up 6 percent on year, as healthy laser printer and copier demand offset shrinking camera sales.


Like other Japanese exporters, Canon got a perk from the falling yen, which lifts the value of its overseas earnings. But Canon and others cannot expect the dollar's rise to continue at the same rate this year.


Canon said the dollar cost 97.84 yen last year, and that it will likely cost 100.61 yen this year.


Canon is projecting a 240 billion yen ($2.4 billion) profit for fiscal 2014, up 4 percent from the previous year, on 3.86 trillion yen ($37.8 billion) in sales, up 3 percent from the previous year.


"As for the outlook in the second quarter onward, there are signs of brightness among developed countries," Canon said. "The global economy, having bottomed out in 2013, is also expected to realize a moderate recovery."


Although camera sales have suffered lately with the arrival of smartphones with digital cameras, Japan saw a big rush to buy cameras ahead of a tax hike that kicked in April 1, the Tokyo-based manufacturer said.


Demand for inkjet printers also increased in Japan for the three-month period, Canon said.


A recovery in the U.S. and European economies was expected to help support Canon's results for the rest of the year. A drop in demand in Japan was likely for the second quarter after the rush to buy ahead of the tax rise, but that was also expected to recover later in the year, according to Canon.



Kahwagi in Tripoli, militia leader charged over clashes


TRIPOLI, Lebanon: Lebanese Army Chief Gen. Jean Kahwagi paid a visit to several military units stationed in Tripoli Thursday, weeks after a security plan largely succeeded in restoring law and order to the restive northern city.


Hours before Kahwagi arrived, a number of stun grenades exploded in several neighborhoods, including the Abu Ali roundabout, Zahreyeye, al-Tall and outside Shaheen Hospital.


Soldiers pursued the perpetrators, who fled on a motorcycle.


Kahwagi toured several neighborhoods in Tripoli, inspecting military units and holding talks with officers.


The Army-led security plan, which was launched on April 1 to end intermittent clashes in the city, has sparked controversy in Tripoli as some residents have protested raids and arrests, claiming the army is only targeting Sunnis.


The military has made dozens of arrests as per judicial warrants issued against several militia commanders and gunmen who were involved in the fighting between Alawite supporters of President Bashar Assad and Sunni residents sympathetic to the Syrian uprising.


Meanwhile, Military Prosecutor Saqr Saqr charged Suleiman al-Ali, a militia commander from Jabal Mohsen, along with 23 other people from the Alawite majority neighborhood with belonging to an armed group and taking part in the clashes.


Saqr also charged 25 suspects from Bab al-Tabbaneh of forming an armed group, carrying out terrorist attacks and damaging private and public properties.


Saqr has issued over 100 warrants for the arrest of suspects involved in the clashes and other security incidents in the northern Akkar region.



Warrants for two ISIS members over kill attempt


BEIRUT: Lebanon issued arrest warrants Thursday for two terrorist suspects accused of trying to kill Lebanese soldiers.


Military Investigative Judge Fadi Sawwan signed off on the warrants against Qossay Moussa, a Lebanese national who hails from the northern border region of Wadi Khaled, and Hussein Berri, a stateless citizen residing in Lebanon.


Sawwan accused the two men of belonging to the Islamic State of Iraq and Greater Syria (ISIS), a jihadist militant umbrella group with links to Al-Qaeda in Iraq.


The suspects were also accused of plotting terrorist acts and trying to kill Army soldiers in Wadi Khaled.



US-Japan trade talks suspended without agreement


Talks between the United States and Japan on a Pacific Rim trade pact have halted for now without any resolution in sight, spoiling plans for a showcase deal during President Barack Obama's visit to Tokyo.


Economy minister Akira Amari, Japan's top negotiator, said too many issues remained unresolved and further working-level talks will be needed to reach a market-opening pact as part of the Trans-Pacific Partnership.


Amari told reporters Thursday that no end was in sight. He described the negotiations as in a "tough situation."


The two sides had hoped to proclaim a broad agreement or at least significant progress during Obama's visit, which ends Friday.


A Japan-U.S. deal is seen as crucial for talks among the other 10 countries participating in the U.S.-led initiative to move ahead.



Treasury Secretary to visit Detroit on jobs push


U.S. Treasury Secretary Jacob Lew plans to visit Detroit to explore ways to promote job creation and economic growth.


Lew on Thursday plans to convene a meeting with foundation leaders to discuss ways the nonprofit sector can help. The focus will be creating and investing in programs that support economic development, promote education and workforce skills training, and increase access to capital.


On Friday, Lew plans to tour New Center Stamping, a Detroit business that received $3.7 million in funding from the Treasury Department's State Small Business Credit Initiative. He'll also meet with area business and community leaders to discuss bankrupt Detroit's economy.


An announcement about Lew's planned visit says he'll highlight the continued commitment of President Barack Obama's administration to the city's revitalization.



German business confidence rebounds in April


German business confidence has rebounded after dipping amid fears about the possible economic impact of the crisis in Ukraine.


The Ifo institute said Thursday that its closely watched monthly confidence survey increased to 111.2 points in April from 110.7 last month.


The rise was prompted by an improvement in companies' outlook for the next six months.


In March, the Ifo index slipped as uncertainty over the crisis in Ukraine and business ties with Russia weighed on companies' outlook.


Germany and other European countries have imposed limited sanctions on Russia over its annexation of Crimea but have yet to progress to wider economic sanctions.



Last year's deadbeats do best as stocks stall


Financial markets rarely stick to the script, and this year is no different.


Investments traditionally considered safe bets such as utilities, gold and government bonds were supposed to flop in 2014 as investors started to pour money into higher-risk, higher-growth stocks that would benefit from a pickup in the economy.


Instead, these safe investments are among the year's best performers. Utilities, for example, are up more than twice as much as the next-best sector in the Standard & Poor's 500 index.


The surprisingly strong returns from these so-called havens are happening for several reasons. In the U.S., a severe winter slowed the economy, and a slump in trendy technology stocks has undermined prices. From overseas, worries about China's economy are growing and chaos in Ukraine has increased global political tensions. Those drags on the market have left the Dow Jones industrial average down 0.5 percent and the Nasdaq composite off 1.2 percent for the year. The S&P 500, meanwhile, has eked out a gain of 1.5 percent.


Safe and steady assets have fared much better.


UTILITIES:


Power companies in the S&P 500 are up 11.4 percent this year, making them the best performers in the index by far. The next-best performer is up 5.2 percent, and that's energy stocks.


Investors buy utilities when they are worried about stock market volatility or the outlook for economic growth. Typically, utility stocks rise less than others when the overall market is climbing, but they fall less when prices are down. These stocks also pay big dividends, which are attractive to investors, particularly when bond yields are historically low, like they are now.


The dividend yield, a measure of a company's dividend compared with its stock price, is 3.6 percent for utility companies in the S&P 500. That compares with a dividend yield of 1.5 percent for technology companies and a yield of 2.71 percent for 10-year Treasury notes.


"The dividends will provide you with some support," says Phil Orlando, chief equity strategist at Federated Investors. "Those names will go down less than the names that don't pay dividends."


Exelon, a Chicago-based utility is up 31 percent this year and PSEG, a utility based in New Jersey, has gained 23 percent.


GOLD:


Gold has also been one of the year's best-performing financial assets, climbing 6.8 percent to $1,284 an ounce. The price of the metal is rebounding after a 2013 slump of 28 percent, its biggest decline in more than 30 years.


Investors have also been buying gold as a hedge against a weakening dollar. The U.S. currency has dropped against the euro and the Japanese yen this year as the Federal Reserve has reiterated its message that it will continue its efforts to support the economy with low interest rates.


"We still view gold as one of the best alternatives, if the base case of U.S. economic growth and continued equity price appreciation stumbles," says Mike McGlone, director of research at ETF Securities. "And so far, that is what has happened."


Demand for gold as a safe asset has also risen as tensions between Russia and the West have escalated over Ukraine. Russia annexed the Crimea region on March 21.


Another explanation for gold's gains is that investors' psychology on the metal has shifted this year, after being unrelentingly negative for most of 2013. The metal fell as low as $1,187 an ounce in December, having climbed as high as $1,900 an ounce in August 2011.


"One of the best things to happen to gold this year was that 2013 ended," McGlone says.


TREASURYS:


Many analysts expected Treasury prices to slump after the Fed announced in December that it would start winding down its massive monthly bond purchases. That program is aimed at stimulating the economy by holding down long-term borrowing rates for consumers and businesses.


But bond prices have climbed even as the Fed's buying has slowed. Barclays index of U.S. Treasurys that mature within seven to 10 years has climbed 2.8 percent since the start of 2014, and long-maturity Treasury bonds have risen even more. The bank's index of Treasurys with maturities of 20 years or more has surged 9.2 percent.


Prices got a lift when big investors like pension funds and insurance companies rebalanced their portfolios at the start of this year, booking some of their gains after stock prices had risen and buying bonds, says Kathy Jones, fixed income strategist at Charles Schwab.


While stocks had surged in 2013, bonds had declined, pushing up their yields. The 10-year Treasury yield stood at 1.76 percent at the start of 2013. It climbed to 2.97 percent by this January.


"If you think back to the beginning of the year, bond yields were up and stocks had just had a good year," Jones says. "That 3 percent level, or close to it, was pretty attractive."


Another reason for the strong performance of Treasurys is that inflation has remained tame. The latest reading of consumer prices showed that prices in March climbed just 1.5 percent from a year earlier, well below the 2 percent level that the Fed considers acceptable. Low inflation is good for bonds because it helps preserve the value of a bond's fixed payments to investors.



South Bend airport looks to go international


A regional airport in northern Indiana is looking to land some international flights.


The South Bend Tribune reports (http://bit.ly/1l25eGi ) officials with the South Bend Regional Airport announced plans Wednesday to become an international airport. Airport Executive Director Mike Daigle says the airport will begin a multi-million dollar project to add a general aviation facility and a federal inspection station. He says the airport will receive some federal money and state funds.


Airport officials say they already have been working to get the necessary approvals. Daigle says once the final plans are approved, the airport will begin accepting construction bids. He says construction could take six to nine months.


Daigle says after that, airport officials will renew talks with two airlines interested in routes to Mexico and the Bahamas.



Oil prices recoup earlier losses on Ukraine woes


The price of oil rebounded Thursday on worries about tensions in Ukraine.


U.S. crude for May delivery added 31 cents to close at $101.75 a barrel on the New York Mercantile Exchange. On Wednesday, it fell by about the same amount.


Brent crude, an international benchmark for oil, rose 22 cents to $109.33 on the ICE Futures exchange in London.


Oil prices fell overnight when a U.S. government report showed a bigger-than-expected rise in oil supplies.


The U.S. Energy Department's Energy Information Administration said oil supplies rose 3.5 million barrels in the week that ended April 18. That exceeded the expectations of analysts surveyed by Platts, who forecast an increase of 3.1 million barrels. At a record 397.7 million barrels, supplies are now 2.3 percent above year-earlier levels.


Ukraine is going through its biggest political crisis since the fall of the Soviet Union, sparked by months of anti-government protests and President Viktor Yanukovych's flight to Russia.


President Barack Obama, while visiting Tokyo, warned Moscow that the U.S. has another round of economic sanctions "teed up."


In other energy futures trading in New York:


— Wholesale gasoline was flat at $3.04 a gallon.


— Heating oil was little changed at $2.98 a gallon.


— Natural gas added 3 cents to $4.76 per 1,000 cubic feet.



Wednesday's Sports In Brief


BASEBALL


BOSTON (AP) — Yankees pitcher Michael Pineda was ejected for using pine tar less than two weeks after appearing to get away with using a foreign substance in another game against Boston, and the Red Sox beat New York 5-1 on Wednesday night.


The right-hander was thrown out in the second inning when plate umpire Gerry Davis found the substance on the right side of Pineda's neck after Red Sox manager John Farrell asked him to check. Pineda walked from the mound without protest.


Both Pineda and Davis said it was pine tar.


"When it's that obvious, something has got to be said," Farrell explained after the game. "Our awareness was heightened, given what we had seen in the past."


Yankees general manager Brian Cashman said Pineda and the organization were "embarrassed."


Girardi doesn't expect to be fined for pushing a television camera to keep it from showing Pineda walking in the tunnel from the team's dugout to the clubhouse.


CHICAGO (AP) — Fittingly, the Chicago Cubs marked Wrigley Field's 100th birthday with a loss — a dramatic, error-filled one, at that.


One out from victory, the Cubs allowed the Arizona Diamondbacks to rally for five runs in the ninth inning in a 7-5 loss Wednesday.


After an error by shortstop Starlin Castro, Martin Prado hit a two-run single off Pedro Strop (0-2), Miguel Montero had a tying single against James Russell and Aaron Hill followed with a two-run triple off Justin Grimm.


SUGAR LAND, Texas (AP) — Former NBA star Tracy McGrady signed to pitch for the Sugar Land Skeeters in the independent Atlantic League.


The 6-foot-8 right-hander officially reported to spring camp last week and made his first scrimmage game appearance against Alvin Community College on April 16. In an inning of work, McGrady allowed one run on three hits with no walks and no strikeouts.


MILWAUKEE (AP) — San Diego Padres starter Josh Johnson is scheduled to have elbow ligament-replacement surgery for the second time and will miss the entire season.


The right-hander, signed in November to an $8 million, one-year contract, was placed on the disabled list before the season began. He strained his elbow during spring training and the Padres initially thought he would be out about one month.


CHICAGO (AP) — Arizona Diamondbacks outfielder Mark Trumbo will be sidelined for an extended period of time because of a stress fracture in his left foot.


Manager Kirk Gibson said Trumbo will get a second opinion from Dr. Michael Lee in Arizona before a timetable for his return is determined.


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OBITUARY


HAVANA (AP) — Family members say Conrado Marrero, the oldest living former Major League Baseball player, died in Havana. He was just two days short of his 103rd birthday.


Grandson Rogelio Marrero confirmed the death Wednesday afternoon.


Marrero was a diminutive right-hander from Cuba who went by the nickname "Connie" when he pitched for the Washington Senators in the 1950s.


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SWIMMING


MESA, Ariz. (AP) — Michael Phelps is making a comeback after nearly two years out of the pool.


Having shed the 30 pounds he piled on since retiring after the 2012 London Olympics, Phelps will resume his career starting Thursday at the Arena Grand Prix. He will swim the 100-meter butterfly, an event in which he holds the world record. He dropped his plans to compete in the 100 freestyle the same day.


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PRO FOOTBALL


NEW YORK (AP) — As Super Bowl champions, the Seattle Seahawks get to kick off the NFL's regular season by hosting the Green Bay Packers on Sept. 4.


That Thursday game is the first of four prime-time games on opening weekend. Also at night will be a Sunday matchup of AFC champion Denver and Peyton Manning hosting his former team, Indianapolis; and a Monday night doubleheader with the New York Giants at Detroit, followed by San Diego at Arizona.


The NFL will play three games in London: Dolphins-Raiders on Sept. 28; Lions-Falcons on Oct. 26; and Cowboys-Jaguars on Nov. 9.


BUFFALO, N.Y. (AP) — The Jacobs family is involved in helping secure the Bills' future in Buffalo, and hasn't ruled out getting involved in buying the team.


Jeremy Jacobs Jr., the son of Boston Bruins owner Jeremy Sr., told The Buffalo News that the family has been engaged in discussions involving the franchise's future, but said it was too early to say whether it will make an attempt to buy the team.


PHOENIX (AP) — A judge sentenced Arizona Cardinals inside linebacker Daryl Washington to a year of supervised probation for assaulting a former girlfriend who is the mother of his daughter.


Now Washington, one of the team's top defensive players, will wait to see what punishment he may face from the NFL under its personal conduct policy.


RENTON, Wash. (AP) — Seattle Seahawks quarterback Russell Wilson announced that he and his wife Ashton are divorcing.


Wilson made the announcement in a statement released by the Seahawks. He says decisions like this are not easy and respectfully asks for "prayers and understanding and privacy during this difficult time."


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PRO BASKETBALL


NEW YORK (AP) — Goran Dragic was honored as the NBA's Most Improved Player after his career year helped lead the Suns to 23 more wins this season.


The 6-foot-3 guard from Slovenia came into the season with a career scoring average of 9.5 points in five years. He had 20.3 points and 5.9 assists per game as Phoenix went 48-34 and just missed the playoffs in the tough Western Conference. Dragic shot 50.5 percent from the field and 40.8 percent on 3-pointers.


INDIANAPOLIS (AP) — Pacers guard Lance Stephenson acknowledged that he and Evan Turner got into a practice "scuffle" last week before Game 1 against Atlanta but denied the two threw any punches.


Coach Frank Vogel and Indiana's players concurred with Stephenson's version of events, though the descriptions were different. Yahoo! Sports first reported that Turner had to be "dragged out of practice" last week after the argument and that fists were flying.


GREENBURGH, N.Y. (AP) — The coaching search is on in New York, and the best possible candidate already has been eliminated.


Phil Jackson won't be hiring himself to coach the Knicks.


Two days after firing Mike Woodson, Jackson reiterated Wednesday that he won't be returning to the bench, despite the fact that even fiancee Jeanie Buss told him he should.


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PRO HOCKEY


ST. PAUL, Minn. (AP) — The NHL cracked down hard on Matt Cooke, suspending the Minnesota Wild left wing for seven games Wednesday for his knee-to-knee hit that injured Colorado Avalanche defenseman Tyson Barrie.


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SOCCER


MADRID (AP) — Real Madrid hopes a narrow home win put it in position to reach the Champions League final for the first time since 2002.


In a matchup of teams acclaimed to be the best in Europe this season, Karim Benzema scored in the 19th minute to give the Los Blancos a 1-0 victory over defending champion Bayern Munich in the first leg of their semifinal.


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MOUNTAINEERING


KATMANDU, Nepal (AP) — With the Mount Everest climbing season increasingly in doubt, Nepalese tourism officials traveled to base camp Thursday to negotiate with Sherpas who want to walk off the job after an avalanche killed 16 of the mountain guides.


Friday's avalanche — the worst ever recorded on Everest — has exposed an undercurrent of resentment by Sherpas over their pay, treatment and benefits.


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GOLF


LOS ANGELES (AP) — Greg Norman and Joe Buck will call the U.S. Open when it moves to Fox next year.


The network signed a 12-year rights deal with the U.S. Golf Association in August to air the Open and its other championships. Fox said that two-time British Open champion Norman would join Buck on its lead golf announcing team.


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COLLEGE FOOTBALL


STATE COLLEGE, Pa. (AP) — With one Joe Paterno statue in storage, fans of the late Penn State football coach are commissioning a new one to be placed across from the university.


A State College, Pa., restaurant owner says he's interested in having the new statue put in front of his establishment.


Penn State spokeswoman Lisa Powers says the school isn't involved in the plan.


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TENNIS


BARCELONA, Spain (AP) — Second-seeded David Ferrer was ousted from the Barcelona Open by a Russian opponent for the second straight year and defending champion Rafael Nadal labored to victory.


Ferrer was unable to find his rhythm in losing 6-4, 6-2 to Teymuraz Gabashvili in his opening match while Nadal struggled past fellow Spanish player Albert Ramos 7-6 (2), 6-4.


Nadal eventually overcame his 103rd-ranked opponent to reach the third round, rebounding from a surprise loss to Ferrer in the Monte Carlo Masters quarterfinals.


STUTTGART, Germany (AP) — Alisa Kleybanova defeated third-seeded Petra Kvitova 6-2, 7-6 (3) to provide the first major upset at the Porsche Grand Prix.


MARRAKESH, Morocco (AP) — Top-seeded Daniela Hantuchova of Slovakia beat last year's runner-up Lourdes Dominguez Lino of Spain 7-5, 6-2 to reach the quarterfinals of the Grand Prix SAR.