Italian fashion icons Dolce and Gabbana convicted of tax evasion by Colleen Barry The Associated Press Published Jun 19, 2013 02:12PM MDT MILAN • A Milan court has convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The pair were found guilty Wednesday of failing to declare euros 1 billion ($1.3 billion) in income to authorities. The court sentenced them both to one year and eight months in jail. Prosecutors argued that the pair had evaded taxes on income of 416 million euros each and 200 million euros through a Luxembourg-based company. The statute of limitations ran out on a charge of misrepresenting incom... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Dow falls as Fed suggests it’s closer to slowing bond purchases by Martin Crutsinger Ap Economics Writer Published Jun 19, 2013 01:34PM MDT Washington • The Federal Reserve signaled Wednesday that it’s moving closer to slowing its bond-buying program, which is intended to keep long-term interest rates at record lows. Chairman Ben Bernanke said the Fed could start scaling back its $85 billion in monthly bond purchases later this year if the economy continues to improve. He said the reductions would occur in “measured steps” and that the purchases could end by the middle of next year. Bernanke likened any reduction in the Fed’s bond p... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Savvy Consumer: For a thrifty summer, make plans, follow them good Housekeeping Reports Published Jun 19, 2013 01:08PM MDT In the summer, sunny days boost serotonin levels, which can make you feel sunnier, too. But be sure to make it a point to plan activities and commit to them. Otherwise, you risk getting caught up in your usual routine, instead of appreciating what makes the season special. “When you look at the months stretching before you, it seems like there’s more than enough time to do everything,” said Bernadette Noll, author of Slow Family Living. To ensure that not a single summer day is wasted — and th... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Federal Reserve suggests it’s closer to slowing bond purchases by Martin Crutsinger The Associated Press Published Jun 19, 2013 12:10PM MDT WASHINGTON • Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year if the economy continues to improve. The Fed’s bond purchases have helped keep long-term interest rates at record lows. Bernanke said the reductions would occur in “measured steps” and that the purchases could end by the middle of next year. By then, he said he thought unemployment would be around 7 percent. Bernanke l... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recalls for IKEA LYDA jumbo cups, 2012-2013 Jeep Wranglers the Salt Lake Tribune Published Jun 19, 2013 11:47AM MDT The following products and vehicles were recalled by the Consumer Product Safety Commission or the National Highway Traffic Safety Administration. Unless otherwise indicated, discontinue use of the products immediately and return them to the store where purchased for a refund. For more information about the products, call the manufacturer or CPSC’s toll-free hotline, 800-638-2772. Only some cars or trucks recalled are affected. Contact a dealer for your model to see if it is included in the reca... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Kolcraft recalls baby strollers due to wheel blowouts the Associated Press Published Jun 19, 2013 10:58AM MDT NEW YORK • Kolcraft is recalling more than 96,000 Jeep Liberty strollers after at least 18 people were injured by tire blowouts, the Consumer Product Safety Commission said Wednesday. The government watchdog group said there have been 39 reports of inner tube ruptures that have caused the wheel rim to break off and become a projectile. The incidents took place mostly when the tires were being inflated, causing cuts and bruises to arms, legs, torso and head or face. Two of the injured were childr... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Men’s Wearhouse ousts founder, pitchman George Zimmer by Anne D’innocenzio The Associated Press Published Jun 19, 2013 09:56AM MDT NEW YORK • Apparently, Men’s Wearhouse Inc. doesn’t like the way its founder looks anymore. In a terse release issued Wednesday, Men’s Wearhouse said it has fired the face of the company and its executive chairman, George Zimmer, who appeared in many of its TV commercials with the slogan “You’re going to like the way you look. I guarantee it.” In a statement issued to CNBC, Zimmer said that over the past several months he and the company’s board disagreed about the company’s direction and that t... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Stocks edge lower as investors wait on Fed update by Steve Rothwell The Associated Press Published Jun 19, 2013 09:55AM MDT NEW YORK • The stock market is waiting on the Fed. Major indexes drifted lower in afternoon trading Wednesday as traders wondered what the Federal Reserve will say about the U.S. economy and the central bank’s huge stimulus program this afternoon. The U.S. central bank will release its latest policy update at 2 p.m. Eastern Daylight Time and Bernanke will speak at a press conference thirty minutes later. Comments by Bernanke last month suggesting the central bank may soon ease that support unset... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

As sales slow, Utah’s Skullcandy retrenches by Vince Horiuchi The Salt Lake Tribune Published Jun 19, 2013 09:38AM MDT Park City-based audio accessories manufacturer Skullcandy announced Tuesday it is closing its San Clemente, Calif., office and restructuring its management team amid slowing sales and a fading stock. The company, which produces headphones for mobile devices and also sells active apparel, said it is moving its marketing, creative and business development and legal departments to its Park City headquarters from California, as well as certain sales and international personnel, according to a statem... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Inflation in the U.S. and Utah tame in May by Christopher S. Rugaber The Associated Press Published Jun 19, 2013 09:37AM MDT U.S. consumer prices rose slightly last month, as higher energy costs partly offset cheaper food. The small increase is further evidence that consumers are benefiting from mild inflation. The consumer price index ticked up a seasonally adjusted 0.1 percent in May from April, the Labor Department said, with a similar index for the Wasatch Front doing likewise. Over the past 12 months, prices have risen just 1.4 percent. Excluding volatile food and gas costs, core prices are up just 1.7 percent o... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Two Utah community banks set merger for 4Q by Paul Beebe The Salt Lake Tribune Published Jun 19, 2013 09:00AM MDT The holding companies of two Utah community banks have agreed to merge later this year, but the names of their respective branches won’t change. People’s Utah Bancorp, which owns Bank of American Fork, and Lewiston Bancorp, whose subsidiary is Lewiston State Bank, will combine in the fourth quarter, creating a single holding company with more than $1 billion in assets, the companies have announced. Terms weren’t disclosed. The boards of both companies have approved the deal, which still must be ... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Business Insight: Consumers now have way to take on abusive lenders by Dawn House The Salt Lake Tribune Published Jun 19, 2013 08:59AM MDT Robert Nathan Mayer, a professor in Family Consumer Studies at the University of Utah and co-author of Financial Justice, The People’s Campaign to Stop Lender Abuse, contends that an alliance of consumer, civil rights, labor and fair-lending advocates is effectively challenging Wall Street with the creation of the Consumer Financial Protection Bureau. What are some of the abuses the Consumer Financial Protection Bureau (CFBP) may prevent? Most people view the bureau as a response to the l... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Businessman, activist had life lived in full the Salt Lake Tribune Published Jun 18, 2013 09:56PM MDT Longtime Utah businessman and community activist Marvin L. Arent, who died last week at the age of 95, loved to talk about life, and about the love of his life. Arent and wife Lynn founded Arent’s Doorway to Fashion, a women’s clothing and fur store that operated for decades on South Temple in downtown Salt Lake City. Marvin Arent was a member of the Rotary Club of Salt Lake City for 47 years, where he served as treasurer. He was named a Paul Harris Fellow and a Richard L. Evans Fellow in recogn... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Lower fees, new options in store for Utah’s college savings plan by Jennifer Napier-pearce The Salt Lake Tribune Published Jun 18, 2013 09:56PM MDT Utah’s official 529 college savings plan is announcing new investment choices and lower fees effective June 21. The Utah Educational Savings Plan (UESP) is dropping its annual administrative asset fees on age-based and five of six static investments by an average of 10 percent to between 0.14 and 0.18 percent. (Fees for customized investment options will remain at 0.20 percent and the Public Treasurers’ Investment Fund option will stay fee-free). The nonprofit, which manages more than $5.9 bill... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Chrysler concedes, agrees to recall of Jeeps at risk of fire combined News Services Published Jun 18, 2013 09:56PM MDT Detroit • Facing a deadline and a potential public-relations nightmare, Chrysler on Tuesday resolved differences with safety regulators and will recall 2.7 million older-model Jeeps, reversing a defiant stance over autos that may be linked to 51 deaths in fiery rear-end collisions. In deciding on the recall, Chrysler sidestepped a showdown with the federal government that could have led to public hearings with witnesses providing details on fuel tanks at risk of a fire when they rupture. The di... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The best camera apps for the wannabe Ansel Adams by Scott Sherman and Vince Horiuchi The Salt Lake Tribune Published Jun 18, 2013 07:23PM MDT “Say cheese!” Or not. In the world of digital photography, you don’t have to flash a smile. Instead, just digitally paint a grin on your face afterward. Struggling for hours to get just the right shot under the optimum lighting conditions is so analog. Today, digital photography allows any wannabe Ansel Adams to create a photographic masterpiece in homage to the 20th century landscape marvel. And with a good smartphone camera and the right camera app, the tools are in everyone’s hands. In the pa... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Business news briefs staff And News Services Published Jun 18, 2013 06:45PM MDT Deloitte fined $10M over misconduct Deloitte has agreed to a $10 million fine and a one-year ban from advising banks chartered in New York as part of a settlement with state officials. The move stemmed from what state authorities called “misconduct, violations of law, and lack of autonomy” during Deloitte’s work for Standard Chartered, a British bank accused of illicitly transferring billions of dollars on behalf of Iran. Obama says change likely at the Fed President Barack Obama has given ... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Radio spots highlight Utah lawyers’ contributions by Jennifer Napier-pearce The Salt Lake Tribune Published Jun 18, 2013 01:22PM MDT Lawyers in the Beehive State are trying to polish up their image. The Utah State Bar has launched a public information campaign to let people know about the productive role attorneys play in the community. And they’ve taken to the airwaves, producing four 60-second radio spots being played on KSL, KODJ, ESPN, KSFI, KUBL, KZNS and KONY in St. George. Bar president Lori Nelson said in a statement that the state’s 10,000 lawyers and judges perform a vital role in society, from instilling justice to... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Dunkin Donuts ushers in Utah’s summer of gooey concoctions staff And News Services Published Jun 18, 2013 12:36PM MDT In anticipation of the opening later this month of the first of 23 planned Dunkin’ Donuts restaurants in Utah, it’s time to note that doughtnuts are going wild this summer. Each year about now the makers of the confectionary concoctions go outside the box, as it were, but rarely to this gooey, gloppy degree. Dunkin’ and one other familiar brand, IHOP, are linking their names with combinations that must be making nutritionists gasp and gluttons gush. Krispy Kreme also is in on the game, but not o... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Few women in Utah corporate boardrooms by Jennifer Napier-pearce The Salt Lake Tribune Published Jun 18, 2013 12:33PM MDT Mary Beckerle began her career in a lab studying cell movement. She worked up through the ranks of academia and research and eventually made her way to the boardroom. She now serves as chief executive of the Huntsman Cancer Institute and as a director for a number of associations including Huntsman Corp., where she’s been a board member since 2011. Beckerle credits her fellow board members for “being broad thinkers” and making her “feel very comfortable.” But the fact is, she’s the only woman on... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.