Business news briefs staff And News Services Published May 15, 2013 05:33PM MDT U. of Phoenix sets leaders workshop The University of Phoenix will host a free “Transformational Leadership Workshop” Thursday evening, offering resources to strengthen an individual’s skills and information that can help organizations survive. The workshop, from 6 to 8:30 p.m., is at 5373 S. Green Street, Room 105, Salt Lake City. For information, go to www.phoenix.edu/startleading. Cisco’s 3Q profit takes big jump Cisco said its net income rose 14 percent in its third quarter, and report... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Eurozone’s recession now its lengthiest by Pan Pylas and Sarah Dilorenzo The Associated Press Published May 15, 2013 05:27PM MDT Paris • The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-2009. The European Union statistics office said Wednesday that nine of the 17 EU countries that use the euro are in recession, with France a notable addition to the list. Overall, the eurozone’s economy contracted for the sixth straight quarter, shrinking by 0.2 percent in the January-March period from the previous three months. Th... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Judge reinstates Wells Fargo fine tied to overdraft fees reuters Published May 15, 2013 05:20PM MDT A federal judge has again ordered Wells Fargo to pay $203 million to settle class-action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an award that had been thrown out last year. U.S. District Judge William Alsup reinstated a penalty he first imposed in August 2010, saying the fourth-largest U.S. bank violated a California law that protects consumers against fraudulent misrepresentations. “Wells Fargo was profiting off its most vulnerable cu... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Smartphones a growing avenue for hackers, users warned by Tony Winton The Associated Press Published May 15, 2013 05:20PM MDT Smartphones are increasingly popular not only with consumers, but also with thieves who see the devices as another way to tap into bank accounts and other sensitive information, experts say. Many consumers simply don’t realize how vulnerable their Androids, iPhones and other devices can be. An April study by the Federal Reserve Bank of Atlanta said threats are proliferating, ranging from “phishing” — where consumers click a phony email or text message and are tricked into handing over personal i... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recalls for Land of Nod dolls, Nissan models good Housekeeping Reports Published May 15, 2013 12:34PM 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.

Facebook ‘Home’ a high-profile disappointment by Brandon Bailey San Jose Mercury News Published May 15, 2013 10:41AM MDT MENLO PARK, Calif. • In just over a month since the launch of its eye-catching new Android app, Facebook’s latest effort to win the hearts of smartphone users has turned into a high-profile disappointment for a company that describes mobile computing as its top priority. After an initial surge of interest, the volume of consumers downloading the smartphone app called “Home” has fallen dramatically in recent weeks. Users have given a low rating to the app — which automatically shows Facebook upda... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Yahoo to woo younger users in effort to be cool again by Alexei Oreskovic Reuters Published May 15, 2013 10:16AM MDT SAN FRANCISCO • Yahoo plans to ramp up advertising and marketing efforts as it seeks to break its reliance on an “aging demographic” and become more relevant among young adults, the company’s finance chief said on Tuesday. The struggling Sunnyvale Web portal’s brand will be more visible on outdoor billboards and at sporting events, among other places, as it seeks to woo 18-to-34-year-olds and get the word out about new products, CFO Ken Goldman said at the J.P. Morgan Global Technology, Media an... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Live blog: Google I/O 2013 keynote Digital First Media Published May 15, 2013 10:01AM MDT The San Jose Mercury News' Troy Wolverton will blog live as Google's 2013 I/O developers conference gets underway in San Francisco on Wednesday at 10 a.m. with the keynote address. Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Macy’s first-quarter profit rises 20 percent on solid sales by Anne D’innocenzio The Associated Press Published May 15, 2013 10:01AM MDT New York • Macy’s Inc. reported a 20 percent increase in first-quarter profit even though cool temperatures and economic worries dampened some of its shoppers’ spending on spring clothes. The company, which also operates the upscale chain Bloomingdale’s, is also raising its dividend to 25 cents from the current 20 cents. It also announced an additional $1.5 billion in stock buybacks. Macy’s, which operates seven stores in Utah, is the first of the major retailers to report first-quarter results ... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Stock prices trade flat as manufacturing softens by Matthew Craft The Associated Press Published May 15, 2013 10:01AM MDT New York • A report of slowing manufacturing is getting the stock market off to weak start Wednesday. News that Europe’s economic slump dragged France into a recession also weighed on markets. A half-hour after the opening bell, the Dow Jones industrial average was down 30 points at 15,186, down 0.1 percent. The Standard & Poor’s 500 index fell two points to 1,648, also down 0.1 percent. Both the Dow and the S&P 500 closed at all-time highs on Tuesday. The Nasdaq composite rose three points to 3... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Salt Lake Chamber recognized for clean-energy initiatives by Vince Horiuchi The Salt Lake Tribune Published May 15, 2013 10:01AM MDT Salt Lake City residents know that during a bad day in January the muck in the air can be so bad, it’s almost like you can’t breathe. So, the Salt Lake Chamber of Commerce put a plan into action that recognizes area businesses that help clean up the putrid smog. The chamber was recognized as one of 10 in the U.S. by the Chambers for Innovation and Clean Energy for creating initiatives that help drive business development. The list of chambers are profiled in a new report, Local Chambers as Chang... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Restaurant empire gone, Kwon awaits prison by Dawn House The Salt Lake Tribune Published May 15, 2013 10:01AM MDT Gene Kwon, once one of the Wasatch Front’s most prominent restaurateurs, was in the Salt Lake County jail Tuesday awaiting a spot in prison, his business empire only a memory. Several years after he entangled friends and others in a trail of fraudulent loans, Kwon, 45, was sentenced last week to one to 15 years on his guilty pleas to one count of theft, three counts of securities fraud and a pattern of unlawful activity, all second-degree felonies. Third District Judge Judith Atherton ordered... 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 May 15, 2013 10:01AM MDT Jolie’s news boosts Myriad Gentics Shares of Utah-based cancer test developer Myriad Genetics rose 4 percent in the wake of reports that actress Angelina Jolie had a double mastectomy after learning she was at high risk for breast cancer. Myriad offers a test aimed at determining a woman’s risk of getting hereditary breast or ovarian cancer by looking for defective genes. Boeing resumes 787 deliveries Boeing restarted deliveries of 787s on Tuesday after a four-month halt while it dealt wi... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Dow, S&P 500 close at record highs, again the Associated Press Published May 15, 2013 10:01AM MDT New York • The stock market is back in record territory after an upturn in small-company stocks. A survey released Tuesday by the National Federation of Independent Business found that small business owners were slightly more optimistic in April. That helped send the Russell 2000 index of small company stocks up 1.3 percent, more than other market indexes. The Dow Jones industrial average rose 123 points to close at a record 15,215 Tuesday, a gain of 0.8 percent. It was the 18th straight Tuesday... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Patents that will keep you in stitches the Salt Lake Tribune Published May 15, 2013 10:01AM MDT Suture anchor having a suture engaging structure and inserter arrangement, patent No. 8,439,946, invented by M. Todd Miller of San Jose, Calif., Chad Wayne Lewis of Layton, and David Eloy Quinones Morales of Arroyo, Puerto Rico, assigned to Stryker Corp. of Kalamazoo, Mich. Suture anchor implantation instrumentation system, patent No. 8,439,947, invented by Bryan Patrick Howard of Logan, Ryan E. Yearsley of Eagle, Idaho, M. Todd Miller of Shrewsbury, Mass., Wayne K. Auge, II of Santa Fe, N.M., ... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

2 hotels to be built in downtown Salt Lake City by Jennifer Napier-pearce The Salt Lake Tribune Published May 15, 2013 10:01AM MDT Two new hotels in Salt Lake City will be erected south of EnergySolutions Arena, and although they won’t fulfill the need for a convention hotel, they are being touted as a welcome addition to downtown. U.S. Bank announced Tuesday it had closed on a $19.4 million construction loan for the project. Alex. Brown Realty, PEG Development and Blue Diamond Capital have partnered to develop the properties. The $65 million mixed-use development will include a 159-room extended-stay Hyatt House, a 175-r... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Salt Lake Postal Service customers savvy about mail technology the Salt Lake Tribune Published May 15, 2013 10:01AM MDT A lot of Utahns are perfectly happy to bypass the post office when they want to buy stamps or take other steps to use the mail. Almost 64 percent of all postal retail sales in the Salt Lake District of the Postal Service now take place other than a post office retail counter, according to the U.S. Postal Service. The Salt Lake District includes all of Utah and southern Idaho. The percentage puts the district at No. 1 in the U.S., ahead of Santa Ana, Calif.; Los Angeles; the Triboro district of N... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Big 4 cellphone carriers unite on anti-texting ads by Peter Svensson The Associated Press Published May 15, 2013 10:01AM MDT New York • The country’s four biggest cellphone companies are set to launch their first joint advertising campaign against texting while driving, uniting behind AT&T’s “It Can Wait” slogan to blanket TV and radio this summer. AT&T, Verizon Wireless, Sprint and T-Mobile will be joined by 200 other organizations backing the multimillion-dollar ad campaign. The campaign is unusual not just because it unites rivals, but because it represents companies warning against the dangers of their own produc... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Airlines ride record year for baggage fees to profits by Scott Mayerowitz The Associated Press Published May 15, 2013 10:01AM MDT New York • U.S. airlines collected more than $6 billion in baggage and reservation change fees from passengers last year — the highest amount since the fees became common five years ago. Passengers shouldn’t expect a break anytime soon. Those fees — along with extra charges for boarding early or picking prime seats — have helped return the industry to profitability. Airlines started charging for a first checked suitcase in 2008 and the fees have climbed since. Airlines typically charge $25 each... Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Utah’s largest medical malpractice insurer being sold by Kirsten Stewart The Salt Lake Tribune Published May 14, 2013 08:58PM MDT Utah’s largest medical malpractice insurer is being sold to a company in Minnesota in an estimated $142 million deal that will mean a windfall for its policyholders, thousands of doctors in Utah, Idaho, Wyoming and Montana. The acquisition of Utah Medical Insurance Association (UMIA) by Midwest Medical Insurance Company (MMIC) was cleared by regulators last week. The merger, announced in February, now needs only the approval of policyholders and it is expected to close at the end of June. UMIA w... Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.