BOSTON — The cost of a gallon of gas in Massachusetts has crept up by a penny since last week.
AAA Southern New England reports Monday that self-serve, regular is now selling for an average of $3.52 per gallon.
That's a penny below the national average and 11 cents lower that at the same time last year, but still 6 cents higher per gallon than a month ago.
AAA found self-serve, regular selling for as low as $3.41 to as high as $3.69 per gallon.
NEW YORK — Cisco says it plans to spend more than $1 billion over the next two years to build up its cloud computing network.
Cisco plans to use the money to expand its data centers for the new service to be called Cisco Cloud Services.
The move makes the San Jose, Calif.-based networking company the latest to enter an arena that caters to the growing number of companies that would rather rent computing space than build their own.
One of the biggest players in the market is Amazon.com. IBM Corp. said in January that it will invest $1.2B in its cloud computing operations.
Cisco says it will work with a set of partners to build up the network. The company already provides cloud-related services, including the online conference provider WebEx.
Mega-screen company Imax is moving forward with its laser technology, signing 63 laser projectors to be installed worldwide over the next several years, with the majority of the new systems ear marked for Greater China.
Imax has made significant inroads into China throughout the last few years, expanding its brand with a growing infrastructure. The Imax laser projectors, which are developed through a partnership with Kodak and Barco, total 43 on the mainland, with the country's largest exhib Wanda footing the bill for all but three.
In the U.S., Imax has inked a deal to install nine new laser projectors in theaters, including the TCL Chinese in Hollywood. The company previously announced agreements for laser systems at the Smithsonian.
"We're creating some incredible destinations around laser technology," Imax CEO Richard Gelond told Variety, adding that the high theater traffic at such iconic locations is what helps pay for the cost of installation, which varies on the number of lasers being used. (The larger the theater, the more lasers required.)
Gelfond said the Imax laser technology is distinguished primarily based on two business tracks: Firstly, the exclusive technology, partnering with Kodak and Barco, works with screens that are 80 feet or larger, as well as dome locations, creating stark differences in projected blacks on screen. Imax and its partners have spent roughly $40 million developing the technology.
"The system is designed to be very filmmaker friendly," Gelfond said.
Meanwhile, the sales side extends the laser systems to four continents (North America, Europe, Asia and Australia). Additionally, a recent signing in Qatar marks the company's first laser projector to be installed in the Middle East.
The first two laser projectors will be installed at commercial locations later this year.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
NEW YORK — Stocks are mostly higher in early trading on Wall Street, extending gains from the week before.
Apple rose 1 percent after The Wall Street Journal reported that the company was in talks with the giant cable provider Comcast about a video-streaming service.
The Dow Jones industrial average rose 36 points, or 0.2 percent, to 16,333 in the first few minutes of trading Monday.
The Standard & Poor's 500 index was little changed at 1,865. The Nasdaq composite edged down 23 points, or 0.5 percent, to 4,253.
Three stocks rose for every two that fell on the New York Stock Exchange.
European markets were mostly lower.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.77 percent from 2.74 percent.
WASHINGTON — The Supreme Court has rejected an appeal from a coal company fighting to reinstate a water pollution permit for a massive West Virginia strip mine.
The justices say they will not disturb a federal appeals court ruling that the Environmental Protection Agency acted within its authority in 2011 when it retroactively vetoed a permit issued four years earlier by the U.S. Army Corps of Engineers.
St. Louis-based Arch Coal Inc. and its Mingo Logan Coal Co. subsidiary challenged the appellate ruling concerning the mountaintop removal coal mine in West Virginia's Logan County.
The case now goes back to a federal district court in Washington.
The case is Mingo Logan Coal Co. v. EPA, 13-599.
BOSTON — A Massachusetts business group called for changes in the state's education system in light of a report released Monday that shows more than two-thirds of the state's employers report difficulty hiring appropriately skilled employees.
Bolstering the state's public schools is a critical step in producing more workers with the skills necessary to succeed in a technology-driven global economy, according to the report by the Massachusetts Business Alliance for Education.
A survey, part of which is included in the 120-page report, found that 69 percent of the 334 employers who responded said they experienced difficulty hiring employees with the appropriate skills, while 84 percent said school systems require moderate to major changes. The survey was conducted by MassINC Polling Group.
"We have grown complacent about public education and have failed to recognize the risk that without significant changes our schools will increasingly fall behind those of our global competitors," said Henry Dinger, chairman of the organization's board. "It is imperative that Massachusetts lead not just the nation, but the world in the educational achievement of our children, or we will suffer economic stagnation and decline."
Recent standardized test results suggest that the state's rate of improvement has slowed and in some cases stalled.
International comparisons from the Program for International Student Assessment show that Massachusetts is behind the world's top performing systems, as some nations, including Poland and Germany, are making faster progress and could surpass Massachusetts.
The MassINC Polling Group research found that 52 percent of businesses said the state's schools need moderate changes, while 32 percent said they needed major changes. Only 20 percent gave the K-12 school system an A or B in preparing students for the job market.
"As our survey data showed, if we are going to achieve our goals in science, technology, engineering and math fields, business and education must work together to address the needs of employers, students and teachers," board member J.D. Chesloff said.
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Online:
Report can be found at http://www.mbae.org/wp-content/uploads/2014/03/New-Opportunity-to-Lead.pdf
Netflix shares dropped more than 7% Monday, after a report that Apple and Comcast are in early talks about teaming up on a streaming-TV service that would be delivered over a dedicated segment of the MSO's broadband network.
Apple would deliver live and on-demand TV programming over a Comcast's last-mile broadband networks, with guaranteed bandwidth to ensure high-quality video delivery to an Apple set-top, the Wall Street Journal reported, citing anonymous sources.
Netflix last month struck a deal with Comcast, under which the Internet-streaming service is paying to directly interconnect to the cable giant's networks. Last Thursday, Netflix CEO Reed Hastings complained in a blog post that his company and other content providers shouldn't have to pay such "tolls" to Comcast or other ISPs and calling for a "strong" net neutrality that would provide free bandwidth to Netflix.
Netflix has said the deal with Comcast will not change its guidance on operating margins for the streaming service, which had 33.4 million U.S. subscribers at the end of 2013. But Hastings, in his blog post last week, said "in the short term Netflix will in cases reluctantly pay large ISPs to ensure a high-quality member experience." Comcast and AT&T responded to Hastings' post, arguing that higher bandwidth costs for Netflix's video delivery should be shouldered by Netflix.
On Monday, Netflix shares were down as much as 7.1% in morning trading, to $377.07 per share. That comes after Netflix's historically volatile stock surged fourfold in 2013 as investors remained bullish on the company's growth prospects.
Apple shares opened up 1% Monday, while Comcast's stock dipped slightly, amid a broader decline in the market.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
NEW YORK — U.S. stocks are falling in afternoon trading Monday as tensions with Russia escalate. Seven of 10 industry sectors in the Standard & Poor's 500 index fell, led by health care. Apple and Herbalife rose.
KEEPING SCORE: The Dow Jones industrial average dropped 57 points, or 0.4 percent, to 16,245 as of 1:17 p.m. Eastern time. The S&P 500 fell 12 points, or 0.6 percent, to 1,854. The Nasdaq composite lost 69 points, or 1.6 percent, to 4,207.
JITTERS IN EUROPE: Europe markets fell as Russia troops seized Ukrainian ships and military installations in the Crimean peninsula following Russia's annexation of the region last week. Germany's DAX fell 1.7 percent and France's CAC-40 1.4 percent. Britain's FTSE-100 fell 0.6 percent.
DRUG STOCKS SLUMP: A sell-off in drug makers continued. Pfizer fell 2.4 percent, the biggest loss in the Dow index. Drug stocks also slumped on Friday after U.S. lawmakers questioned the pricing of a Hepatitis C drug made by Gilead Sciences. Bioegen Idec fell $9.50, or 3 percent, to $309.03. Health care stocks have soared 28 percent over the last 12 months, the most of the 10 industries in the S&P 500.
APPLE UP: Apple rose $4.02, or 0.8 percent, to $536.89 after the Wall Street Journal reported that the company is in talks with cable giant Comcast to offer a streaming video service using Apple set-top boxes.
HERBALIFE SURGE: The embattled health supplements company rose $3.59, or 7 percent, to $53.13 after agreeing to back billionaire Carl Icahn's three nominees for its board. Icahn is a supporter of the company in its fight with another famed investor, William Ackman, who has accuses the company of operating a pyramid scheme.
CHINA WATCH: Asian markets rose on hopes that China would take more steps to stimulate its economy after a manufacturing index in the world's second largest economy signaled contraction in that sector. Hong Kong's Hang Seng index rose 1.9 percent and Japan's Nikkei gained 1.8 percent. "If China continues to slow, the Chinese government will offer additional stimulus," said Mike Meyer, Assistant Vice President at EverBank. "I think we have a floor there."
TREASURYS AND COMMODITIES: Bond prices rose. The yield on the 10-year Treasury note fell to 2.73 percent from 2.74 percent late Friday. Gold sank $24.30, or 1.8 percent, to $1,311.70 an ounce. The price of crude oil was basically unchanged at $99.55 a barrel.
NEW YORK — King Digital, the company behind the wildly mobile game "Candy Crush Saga," is scheduled to make its debut on the New York Stock Exchange this week.
The company could be valued as high as $7.6 billion if its initial public offering prices at $24 per share, the upper end of its expected range. That's nearly twice as much as its closest rival Zynga Inc., creator of "FarmVille."
Unlike Zynga, however, King is profitable and has less than a third of Zynga's employee base.
The company is offering 15.5 million shares. Existing shareholders are offering another 6.7 million. King expects proceeds of $326 million from the IPO.
King, based in Dublin, Ireland, generated revenue of $1.88 billion last year. That's more than 10 times its 2012 revenue of $164.4 million.
Several broadcast outlets broke into regularly scheduled programming around 10 a.m. eastern to relay the latest - and seemingly final - details on the missing Malaysia Airlines flight that has captivated so many around the world.
The details announced today may signal an end is coming to the story. The Malaysian Prime Minister Najib Razar declared the plane has crashed into a remote area of the Indian Ocean and that no one survived the crash.
CBS News, NBC News and ABC News both broke in to report details. For NBC News, Matt Lauer and Savannah Guthrie of "Today" anchored from New York, with Tom Costello in Washington, Kier Simmons in Kuala Lumpur, Bob Hager on set, and Bill Neely in Perth, Australia. For ABC News, Josh Elliott of "Good Morning America" anchored with correspondent David Kerley from New York, anchor and correspondent Bob Woodruff from Kuala Lumpur, correspondent David Wright from Perth, Australia, correspondent and digital journalist Gloria Riviera from Beijing, and contributor Steve Ganyard from Washington. D.C. Charlie Rose and Clarissa Ward
Charlie Rose and Clarissa Ward anchored a special report for CBS. Correspondent Holly Williams reported from Perth, Australia. Correspondent Seth Doane reported from Kuala Lumpur, Malaysia; and correspondent Bob Orr reported from Washington, D.C.
CNN continued to make the story its top topic of coverage, as it has since the flight went missing March 8. Anderson Cooper anchored coverage of the Malaysian Prime Minister's statement, while the network has Sara Sidner, Jim Clancy, and Saima Mohsin in Kuala Lampur; Kate Bolduan. Kyung Lah and Andrew Stevens based in Perth, Australia; Pauline Chou and David McKenzie in Beijing, China; and Richard Quest, Jim Scuitto, Martin Savidge, Rene Marsh, Evan Perez, Barbara Starr and Tom Foreman contributing from New York.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
