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Silicon Valley economy back at dot-com era levels PDF  | Print |  E-mail
Written by MARTHA MENDOZA, AP National Writer   
Tuesday, 04 February 2014 15:06

SAN JOSE, Calif. (AP) — A new report shows Silicon Valley is booming with higher jobs and income. But soaring housing costs are driving a larger wedge between the region's rich and poor.

The region added nearly 47,000 jobs in 2013, up 3 percent over the previous year. Forty-five percent of households now earn more than $100,000.

However, Silicon Valley Community Foundation president Emmett Carson says not everyone is benefiting.

He sees a growing divide between rich and poor that is driven by an overwhelming demand for housing. Last year, the region gained more than 33,000 new residents but only 6,500 new homes.


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 This material may not be published, broadcast, rewritten or redistributed.

 
U.S. probing Honda Accords for air bag problem PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 04 February 2014 10:54

DETROIT (AP) — U.S. safety regulators are investigating complaints that the side air bags on some Honda Accords can inflate when the front doors are closed.

The probe covers about 363,000 of the popular midsize cars from the 2008 model year.

The National Highway Traffic Safety Administration says 28 drivers have complained about the problem. Two people reported injuries.

Investigators will determine how often the problem happens and whether a recall is needed.

Honda says in a statement that it will cooperate with NHTSA on the probe and will continue its own review.

In many of the complaints, owners reported having to pay thousands of dollars to fix the problem. One owner reported in July that the side air bags inflated when his son closed the passenger door, causing a scrape on his right forearm.

"This is clearly a safety issue," the owner said in the complaint.


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 This material may not be published, broadcast, rewritten or redistributed.

Last Updated on Tuesday, 04 February 2014 10:56
 
Nadella to head Microsoft; Gates leaves chair role PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 04 February 2014 10:56

REDMOND, Wash. (AP) — Microsoft has named Satya Nadella, an executive in charge of the company's small, but growing business of delivering software and services over the Internet its new CEO. Company founder Bill Gates is also leaving the chairman role for a new role as technology adviser.

The software company announced Tuesday that Nadella will replace Steve Ballmer, who said in August that he would leave the company within 12 months. Nadella will become only the third leader in the software giant's 38-year history, after founder Bill Gates and Ballmer. Board member John Thompson will serve as Microsoft's new chairman.

Microsoft shares edged up in premarket trading.

Nadella, who is 46 and has worked at Microsoft for 22 years, has been an executive in some of the company's fastest-growing and most profitable businesses, including its Office and server and tools business.

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Cable merger future-proofs against Internet's rise PDF  | Print |  E-mail
Written by RYAN NAKASHIMA, AP Business Writer   
Tuesday, 04 February 2014 10:53

LOS ANGELES (AP) — When you buy a TV, sales clerks often pitch you on "future proofing" your set. Turns out, buying a cable TV company relies largely on the same principle.

Charter Communications Inc.'s $38 billion bid to take over the much-larger Time Warner Cable Inc. is an attempt to future-proof its business by getting its foot in the door of millions more homes wired for Internet service.

As people use more mobile devices, watch more online video and connect everything from thermostats to refrigerators to the Internet, delivering those Internet services will become increasingly valuable.

Gone are the days when one's primary reason for hooking up cable was for TV. Now, it's the Internet, which enables countless online services known collectively as the cloud — everything from movies on Netflix to backup files on Dropbox.

"Broadband is the gatekeeper to the cloud," says Tony Wible, an analyst with Janney Capital Markets. "There's insatiable demand for broadband."

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