Bowing in 'pigeon' fight, France to offer tax cuts

PARIS — An official close to the French president says the government will cut capital gains taxes and streamline visas for foreign entrepreneurs, hoping to persuade investors that France is start-up friendly.

President Francois Hollande last year fought accusations of targeting business after proposing an increase on taxes on investments. In response, entrepreneurs calling themselves "pigeons" — France slang for someone who is being duped — launched an online opposition campaign.

The official, who spoke Monday on condition of anonymity because the new plan wasn't announced, said the average tax burden would be cut could by up to 65 percent for start-up investors and 85 percent for established businesses owners.

Experts say Hollande's initial plan meant an effective tax rate of 60 percent, compared with 15 percent on U.S. capital gains.

23.16 | 0 komentar | Read More

Court: State can block out of state use of FOIA

WASHINGTON — The Supreme Court ruled Monday that it's legal for a state to limit use of its Freedom of Information Act to its own residents.

The court unanimously upheld a federal appeals court decision validating Virginia's limitation of its FOIA law to state citizens and some media outlets.

In the case before the court, Rhode Island resident Mark J. McBurney and California resident Roger W. Hurlbert were suing Virginia for blocking them from getting public documents in Virginia that in-state citizens could have easily obtained. Virginia's FOIA law limits access to state citizens and some media outlets.

McBurney and Hurlbert, along with data and media companies, challenged the state FOIA law under the Constitution's Privileges and Immunities Clause — which prohibits states from discriminating against out-of-staters in favor of its own citizens — and the Commerce Clause, which prohibits discrimination against interstate commerce. Hurlbert owns Sage Information Services, which obtains public real estate assessments for private clients. McBurney, a former Virginia resident, wanted to get documents from a Virginia child welfare agency involving a child support petition from his divorce from his wife.

The two men say it is unconstitutional to not allow everyone access to the protections of a state's FOIA law, especially considering the growing commerce potential of public records. Especially affected are data miners, who are disadvantaged by their inability to get information directly from Virginia on their own.

"We hold, however, that petitioners' constitutional rights were not violated," Justice Samuel Alito said for the court. "By means other than the state FOIA, Virginia made available to petitioners most of the information they sought, and the Commonwealth's refusal to furnish the additional information did not abridge any constitutionally protected privilege or immunity. Nor did Virginia violate the dormant Commerce Clause."

The 4th U.S. Circuit Court of Appeals in Richmond had thrown the two men's case out before its appeal to the Supreme Court, but the 3rd Circuit Court of Appeals in Philadelphia struck down a similar citizens-only FOIA act in Delaware.

Other states like Tennessee, Alabama, Arkansas, Missouri, New Hampshire and New Jersey have some form of law limiting access to public records for noncitizens.

The case is McBurney v. Young, 12-17.

23.16 | 0 komentar | Read More

Obama to tap Charlotte mayor to run Transportation

WASHINGTON — President Barack Obama is nominating Charlotte, N.C., Mayor Anthony Foxx, a rising star in Democratic politics, to run the Transportation Department, a White House official said.

Obama will announce the nomination from the East Room of the White House Monday afternoon, according to the official, who requested anonymity because this person was not authorized to publicly discuss the matter ahead of the president's announcement.

Foxx will be the first black nominee among Obama's picks for open spots in his second-term Cabinet. The president has faced questions, including from the Congressional Black Caucus, about a lack of diversity in his first round of nominations after winning re-election.

If confirmed by the Senate, Foxx would take over a department that has been at the center of Washington's debate over the impact of the so-called sequester cuts. The automatic cuts resulted in furloughs for air traffic controllers that spurred delays at many airports.

Congress reached a deal last week to provide the Transportation Department flexibility that allowed it to end the air traffic controller furloughs.

The White House official said that as mayor, Foxx has experience in boosting transit infrastructure and using those projects to create jobs. He oversaw a program to create an electric tram service to Charlotte, an expansion of a light rail system and the opening of a third runway at the city's airport.

Foxx was first elected Charlotte mayor in 2009. He raised his national profile last year when Charlotte played host to the Democratic Party's convention.

Foxx would replace outgoing Secretary Ray LaHood, one of the few Republicans serving in the Democratic administration.

Obama is also close to announcing his picks for two other Cabinet-level posts. Longtime Obama fundraiser and hotel heiress Penny Pritzker is the leading candidate to run the Commerce Department, and White House international economic adviser Michael Froman is the top choice to be the next U.S. Trade Representative.

_

Follow Julie Pace at http://twitter.com/jpaceDC

23.16 | 0 komentar | Read More

Kodak to sell 2 businesses to U.K. pension plan

ROCHESTER, N.Y. — Eastman Kodak Co. has agreed to sell its personalized and document imaging businesses to its U.K. pension plan as part of an agreement that settles $2.8 billion of claims that the retirement fund had sought from the photography pioneer.

Eastman Kodak Co. said Monday that it is selling the businesses to the U.K. Kodak Pension Plan for $650 million. Kodak is working to emerge from Chapter 11 bankruptcy protection. It says it plans to use some of the proceeds to emerge from bankruptcy and to grow its commercial imaging business.

Founded in 1880, Kodak filed for bankruptcy protection at the beginning of 2012. Since then Kodak has sold off several businesses, such as its online photo service, and said it would shut others, including manufacturing digital cameras.

The company intends to focus on commercial and packaging printing. It sees home photo printers, high-speed commercial inkjet presses, software and packaging as the core of its business as it emerges from bankruptcy.

Kodak said it plans to file a draft of its Chapter 11 plan with the bankruptcy court on Tuesday.

23.16 | 0 komentar | Read More

Boston firm making ‘Where’s Waldo?’ chocolate bars

PRAIM Group, a food licensing, marketing and distribution company with offices in Boston and Los Angeles, said today it will create and distribute a line of all-natural chocolate bars featuring "Where's Waldo?"

The company said it will introduce four unique limited edition collectible designs that include two "everyday" and two "holiday" stock-keeping units. Prices will range from $1.99 to $2.49 a bar.

The packaging will feature "Where's Waldo?" scenes including "Land of Waldos" and "Cake Factory," officials said. Consumers can log onto www.PraimgGroup.com to find solutions to the limited edition collectible wrappers.

More than 58 million "Where's Waldo?" books have been sold worldwide since they were first published in 1987. The series is published in more than 38 countries and has been translated into over 30 languages.

23.16 | 0 komentar | Read More

FDA rejects 2 HIV drugs from Gilead Sciences

FOSTER CITY, Calif. — Gilead Sciences Inc. said Monday that the Food and Drug Administration rejected two marketing applications for HIV treatments, citing quality control problems at the company's manufacturing facilities.

The FDA informed the company in a letter that it cannot approve its HIV pills elvitegravir and cobicistat for use in managing the virus that causes AIDS.

The agency noted that in recent inspections regulators have found problems with documentations and quality testing at Gilead Sciences' facilities.

The company said in a news release it is working to address the issues raised by the agency. A message was left with the company seeking more details on the quality control problems.

Elvitegravir and cobicistat are already approved as ingredients in Gilead's four-in-one HIV pill Stribild, which was approved by FDA in August 2012 for adults who have not yet been treated with anti-HIV drugs.

Gilead asked the FDA to approve the drugs as stand-alone treatments in June. The company is also seeking approval in Europe.

Its shares fell 22 cents to $51.16 in morning trading Monday. Its shares peaked for the past year at $55.16 last Tuesday. They traded as low as $24.12 in early June 2012.

23.16 | 0 komentar | Read More

Chrysler profit falls 65 pct. on lower shipments

DETROIT — Chrysler's first-quarter profit tumbled 65 percent as shipments of cars and trucks fell while it prepared factories to launch several key new vehicles.

The Auburn Hills, Mich., company said Monday that it earned $166 million in the January-March quarter, compared with $473 million a year ago. Revenue fell 6 percent to $15.4 billion.

Chrysler, which is majority-owned by Italy's Fiat SpA, said worldwide vehicle shipments fell 6 percent during the quarter to 574,000. Chrysler, like other automakers, books revenue when it ships vehicles to dealerships.

The company attributed the decline mainly to the end of production of the aging Jeep Liberty midsize SUV at a factory in Toledo, Ohio, last year. That factory is being prepped to build the Liberty's replacement, the all-new Jeep Cherokee, starting in the second quarter. Chrysler shipped 31,000 fewer Liberty models than it did a year ago.

Also, factories that build the 2014 Grand Cherokee large SUV and the 2013 Ram Heavy Duty pickup truck were slowed by the changeover to the freshened models, the company said. And international shipments also were down due to the faltering economy in Europe and import restrictions in Latin America, Chrysler said.

Automakers frequently see shipments and sales drop as they retool factories for updated models, but CEO Sergio Marchionne clearly was frustrated with Chrysler Group LLC's transitions. Still, the company expects to recover in the second half of the year when dealers are fully stocked with new vehicles. Chrysler kept its guidance of $2.2 billion in net income, revenue between $72 billion and $75 billion and shipments of 2.6 million to 2.7 million vehicles.

Marchionne, who also is CEO of Fiat, told analysts Tuesday that the quarter's results were "not so glorious."

He said that Chrysler must flawlessly execute the Cherokee launch and work hard to meet full-year estimates. "There's not a guy in this house who thinks it's going to be a walk in the park," he said.

He said it was unfortunate that Chrysler reported a poor quarter just after Ford Motor Co. released strong earnings. Ford's first-quarter profit rose 15 percent to $1.6 billion as record earnings in North America tempered big losses in Europe. Ford's sales were up 10 percent worldwide.

"To be perfectly honest, I'm envious," Marchionne said.

The 2014 Grand Cherokee went on sale last month, while the 2013 Ram Heavy Duty trucks went on sale starting in January. Chrysler expects to begin selling the Cherokee sometime in the third quarter.

Fiat was given management control of Chrysler in 2009 when the troubled company nearly ran out of cash and had to be rescued by a U.S. government bailout. Now, with the economic troubles in Europe, Chrysler is providing a financial lifeline to Fiat, which owns 58.5 percent of Chrysler.

Fiat on Monday reported a loss of $108 million (83 million euros) for the first quarter because of weak sales in Europe and Chrysler's lower earnings.

Chrysler finished the first quarter with $11.9 billion in cash, compared with $11.6 billion at the end of 2012. Debt was down $100 million from the end of the year, at $12.5 billion.

During the first quarter of 2012, Chrysler posted its biggest profit since leaving bankruptcy protection in 2009.

The first-quarter profit decline came even though worldwide and U.S. sales were up 8 percent from a year earlier.

____

AP Auto Writer Dee-Ann Durbin contributed to this report.

23.16 | 0 komentar | Read More

Obama: Cuts means US could lose years of research

WASHINGTON — President Barack Obama says the U.S. could lose years of scientific research as a result of automatic spending cuts that have hit federal agencies.

He says instead of racing ahead to the next cutting edge, American scientists are wondering whether they'll be able to develop any new products at all.

He says the U.S. can't afford to stand still for two or three years.

With Obama's blessing, Congress has already acted to fix flight delays that emerged when air traffic controllers were furloughed due to the cuts. But Obama is still pushing a broader plan to replace all the cuts.

Obama spoke at the 150th anniversary of the National Academy of Sciences. He says as long as he's president, the U.S. will continue to invest in science and innovation.

23.16 | 0 komentar | Read More

Former Celtics center Jason Collins says he’s gay

Professional basketball center Jason Collins, who played in more than 30 games with the Boston Celtics this season, has come out as openly gay in the most recent issue of Sports Illustrated.

In the magazine's latest issue, Collins, 34, a 12-year veteran of the NBA, cited the 2011 NBA player lockout and the recent Boston Marathon bombings as some of the reasons why he decided to come out publicly.

"Some people insist they've never met a gay person. But Three Degrees of Jason Collins dictates that no NBA player can claim that anymore," Collins writes with Franz Lidz in Sports Illustrated. "Pro basketball is a family. And pretty much every family I know has a brother, sister or cousin who's gay. In the brotherhood of the NBA, I just happen to be the one who's out."

Advertising experts recently told the Herald that the first openly gay man in a major American team sport could reap millions of dollars in endorsements and speaking engagements.

The athlete who makes sports history by coming out will also likely be sought after by companies that want to appeal to the lesbian, gay, bisexual and transgender population, experts said.

Fellow Stanford University graduate U.S. Rep. Joe Kennedy (D-Brookline) was quick to show support today for Collins, who appeared with Kennedy during last year's campaign.

"For as long as I've known Jason Collins he has been defined by three things: his passion for the sport he loves, his unwavering integrity and the biggest heart you will ever find," said Kennedy in a statement. "Without question or hesitation, he gives everything he's got to those of us lucky enough to be in his life. I'm proud to stand with him today and proud to call him a friend."

23.16 | 0 komentar | Read More

EU aims to better protect bees from pesticides

BRUSSELS — The European Union plans to restrict the use of three pesticides to better protect dwindling bee populations.

The announcement Monday was cheered by environmentalists, disappointed chemical companies and came after the bloc's 27 nations failed to agree on a common stand.

EU Consumer Commissioner Tonio Borg said his agency will override the deadlock and move "in the coming weeks" to restrict three neonicotinoid pesticides on plants and cereals that attract bees. The measure takes effect Dec. 1 for two years unless decisive new information becomes available.

Beekeepers have reported an unusual decline in bees over the past decade, particularly in Western Europe, according to the European Food Safety Authority. It says bees are critically important to the environment, sustaining biodiversity by providing pollination for a wide range of crops and wild plants — including most of the food crops in Europe.

Borg said bees contribute over 22 billion euros ($29 billion) a year to European agriculture.

In all, 15 EU nations were for the restrictions, eight were against and four abstained. Borg said he still felt confident in moving ahead because "a majority of member states now support our proposal."

Environmentalists welcomed the move.

"Today's pesticide ban throws Europe's bees a vital lifeline," said Iain Keith of the Avaaz environmental group. "Europe is taking science seriously and must now put the full ban in place to give bees the breathing space they need."

But major chemical companies, which were against Borg's proposals, have questioned the scientific evidence for such a ban.

The head of the EU Parliament's environmental committee acknowledged that "precise data is still lacking" but applauded the consumer agency's action.

"We shall now try to understand how exactly neonicotinoids affect the behavior of bees," said Matthias Groote.

23.16 | 0 komentar | Read More