Financial
Carry-on crackdown: United enforces bag size limit PDF  | Print |  E-mail
Written by SCOTT MAYEROWITZ, AP Airlines Writer   
Tuesday, 04 March 2014 15:16

NEW YORK (AP) — United Airlines is getting tough on passengers with oversized carry-on bags.

The Chicago-based airline has installed new bag-sizers at most airports. It also emailed its frequent fliers, reminding them of its rules on carry-on size. United says there is no change in policy — just a campaign to improve passenger awareness.

Some of United's new sizers are located prior to security checkpoints. As of Saturday, employees contracted by the airline are sending passengers whose bag exceeds the dimensions for carry-ons back to the ticket counter, where they check the bag and pay a $25 fee. Airlines have traditionally asked people with oversized bags to check them at the gate, but waived the $25 fee at that point.

Some travelers are suggesting this is part of a larger attempt by United to collect more fees. The airline says it's simply trying to speed up the boarding process.

The size limits on carry-on bags have been in place for years, but airlines have been inconsistent in enforcing them. Passengers are allowed one carry-on bag to fit in the overhead bin that needs to be 9 inches by 14 inches by 22 inches or smaller. They can also bring along one personal item such as a purse or laptop bag that fits under the seat in front of them.

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Gates back on top of Forbes' billionaire rankings PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 04 March 2014 07:44

NEW YORK (AP) — Microsoft co-founder Bill Gates is once again the world's richest person.

Forbes magazine announced its ranking of the world's billionaires Monday. Gates, who led the list for 15 of the past 20 years, won the spot back from Mexican telecom mogul Carlos Slim Helu, who had topped the list for the past four years. Gates' net worth is estimated at $76 billion; Slim Helu follows at $72 billion.

Spanish clothing magnate Amancio Ortega, known for the Zara retail chain, maintained his No. 3 spot and came out ahead of famed U.S. investor Warren Buffett, who ranked fourth. Larry Ellison of Oracle came in fifth.

Forbes says a record 1,645 billionaires made the list this year, with an average net worth of $4.7 billion. That's up from 1,426 billionaires last year with a net worth of $4.2 billion. Total net worth of this year's list was $6.4 trillion, up from $5.4 trillion last year.

The magazine said that 1,080 of the billionaires were self-made, 207 inherited their wealth and 352 inherited a portion but are still growing it.

Last Updated on Tuesday, 04 March 2014 07:45
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RadioShack closing 1,100 stores as troubles grow PDF  | Print |  E-mail
Written by CANDICE CHOI, AP Business Writers MICHELLE CHAPMAN, AP Business Writers   
Tuesday, 04 March 2014 15:14

NEW YORK (AP) — There will soon be about 1,100 fewer places to buy batteries.

RadioShack said Tuesday that it plans to close up to 1,100 stores, about a fifth of its U.S. locations. The news came as the retailer reported a wider quarterly loss after a disappointing holiday season. Its stock tumbled 16 percent in afternoon trading.

CEO Joseph Magnacca said the closings would leave RadioShack with more than 4,000 U.S. stores. The company didn't immediately identify which stores will close or how many jobs would be affected.

A call to the company, based in Fort Worth, Texas, was not returned.

The closings represent just the latest setback for RadioShack, which is fighting to update its image and compete with the rise of online and discount retailers.

Long known as a destination for batteries and obscure electronic parts, RadioShack has sought to remake itself as a specialist in wireless devices and accessories. But growth in the wireless business is slowing, as more people have smartphones and see fewer reasons to upgrade.

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Florida firm to pursue sunken gold in Ohio dispute PDF  | Print |  E-mail
Written by AMANDA LEE MYERS, Associated Press   
Tuesday, 04 March 2014 07:38

CINCINNATI (AP) — A Florida company has reached an agreement to recover the remaining gold from a ship that sank off the Carolina coast in 1857 and more recently has been embroiled in legal fights involving a fugitive treasure hunter, the firm announced Monday.

Tampa, Fla.-based Odyssey Marine Exploration can begin working to recover gold bars and coins from the SS Central America as soon as April, pending approval of the agreement from an Ohio judge.

In 1988, shipwreck enthusiast and Ohio native Tommy Thompson led an expedition that found the vessel, also known as the Ship of Gold. He took gold from the ship that later sold for between $50 million and $60 million.

The treasure became the subject of various lawsuits involving a group of Ohio investors who paid $12.7 million to fund Thompson's expedition but say they never saw any returns and workers who said they weren't properly paid for signing confidentiality agreements to keep the ship's location and other information secret.

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