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Reports: Facebook may buy solar drone company PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 04 March 2014 15:22

NEW YORK (AP) — Facebook is in talks to buy Titan Aerospace to step up its efforts to provide Internet access to remote parts of the world, according to reports in the technology blog Techcrunch and financial news outlet CNBC.

Both websites cited anonymous sources who were familiar with the deal and put a purchase price at $60 million.

Facebook spokesman Tucker Bounds said Tuesday that the company does not comment on rumors and speculation. Titan Aerospace representatives did not respond to requests for comment.

If Facebook does buy Titan Aerospace, the purchase could fit with the goals of CEO Mark Zuckerberg's Internet.org project. The Facebook-led partnership aims to connect the more than 5 billion of the world's 7 billion people who are not already online.

Google has a similar project called Project Loon.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
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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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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