The search giant agreed to strict privacy rules to protect user names, e-mail addresses, contacts and location and tracking data emitted by customers’ cellphones and laptops.
When Buzz launched a year ago, some user contacts were made visible to others. Now Google will submit to audits of its privacy practices every two years.
In a shift in strategy to counter the rise of Facebook and Twitter, Google is offering a social aspect to Web searches, allowing users to recommend search results to others. The effort, called “plus one,” would require users to create a public profile.
Business
Amazon.com will offer a service for people to store music and video online and access it from multiple devices.
NVR chief executive Paul Saville landed $31 million, among the largest executive compensation payouts in 2010.
Paul Allen’s memoir details a difficult relationship with Microsoft co-founder Bill Gates. “Idea Man: A Memoir by the Co-founder of Microsoft” was penned without Gates’s support.
Google has partnered with MasterCard and Citigroup to adapt technology in Android devices for mobile payments. Shoppers can wave their phones past a gizmo to pay.
Harry & David, a fruit retailer, filed for Chapter 11 bankruptcy protection with $100 million in debtor-in-possession financing from UBS and Ally Bank and $55 million from others. Poor holiday results reduced the company’s access to credit.
American Airlines is suspending until April 26 two of six daily flights to Japan because of a slump in traffic since the earthquake and tsunami.
United Auto Workers membership rose 6 percent, to 376,612, last year as automakers began hiring. It was the union’s first gain in six years.
Toyota told its U.S. car dealers to stop ordering 233 replacement parts made in Japan because the company is worried about running out of them.
Honda said it will temporarily cut production at its North American auto factories because of parts shortages.
Aflac’s talent search for its next spokesduck yielded 1,000 inquiries. “We’re calling it America’s best job,” said Michael Zuna, chief marketing officer. Comedian Gilbert Gottfried, who gave voice to the duck for a decade, was fired after making insensitive remarks on Twitter about the disaster in Japan.
Google announced that Kansas City, Kan., won the company’s contest to build a one-gigabit-per-second network in a U.S. city — with connections more than 100 times as fast as the U.S. average.
Nokia escalated its allegations against Apple, saying its rival violated patents “in virtually all of its products.”
Ally, former finance arm of General Motors, said it is preparing an IPO as it seeks to repay billions in government aid received during the financial crisis. The IPO could raise up to $100 million.
Former Galleon Group portfolio manager Adam Smith testified that the firm used insider tips as an “edge” in a strategy to make money when company revenue figures differed from the Wall Street consensus. Jurors in the criminal trial of Raj Rajaratnam also heard that he had a pipeline to nonpublic information about Goldman Sachs.
Families of those killed in the Deepwater Horizon blast are reaching settlements of $8 million to $9 million.
AMC’s “Mad Men”will not return this summer as expected. Contract talks will delay the fifth season until early 2012.
Deals
Nasdaq and ICE made an aggressive counter bid to buy NYSE Euronext; the offer tops the deal agreed upon with Deutsche Borse.
EBay agreed to buy GSI Commerce in a $2.4 billion deal to bolster eBay’s position against rival Amazon.com.
Berkshire Hathaway’s proposed $9 billion acquisition of Lubrizol will trigger millions of dollars in payments for the specialty chemical company’s top executives. Lubrizol chief executive James Hambrick could receive $97.3 million, based on his stock-based compensation package.
Warner Bros. is in advanced negotiations to acquire the popular movie ratings Web site Flixster for $90 million, signaling a big push into social networking by the network.
GE agreed to pay $3.2 billion for a controlling stake in French equipment developer Converteam as it continues to position itself as a major player in what’s expected to be a 20-year boom in oil and natural gas demand.
Earnings
Lennar, the homebuilder, posted a $27.4 million profit in the first quarter, beating a prior-year loss of $6.5 million.
Economy
Jobs report showed signs of strength as the U.S. economy added 216,000 jobs in March; the unemployment rate fell to 8.8 percent, a two-year low.
Americans increased spending 0.7 percent — more than forecast — in February as incomes climbed.
U.S. consumer confidence dropped more than forecast in March as fuel costs surged to a two-year high.
New-car sales were up in March, and Ford’s sales beat General Motors’ for the first time in more than a year.
Washington
Congress and the White House worked on a compromise spending bill — with $33 billion in cuts to the budget — to avert a partial federal shutdown April 8.
President Obama proposed steps to cut U.S. dependence on oil, including subsidies for cars that run on natural gas.
The Supreme Court will take up a sex discrimination class-action case against Wal-Mart that may involve as many as 1.5 million women seeking back pay that could total billions of dollars.
Federal regulators proposed mortgage lending rules that would force lenders to do a better job of ensuring the quality of loans.
Ohio’s legislature voted to limit public workers’ collective-bargaining rights. Gov. John Kasich (R) is expected to sign it.
Federal Reserve chief Ben Bernanke told lawmakers that, having received an “extraordinary volume” of comments, the Fed would miss the April deadline for a rule capping debit-card “swipe fees.”
An FDA chemist was charged by the SEC with insider trading; he allegedly made as much as $3.6 million using confidential data about drug approvals.
Transitions
David Sokol, one of Warren Buffett’s top managers and a possible successor at Berkshire Hathaway, resigned after helping to negotiate the acquisition of a company whose shares he had purchased. Sokol, 54, bought about 96,000 Lubrizol shares before recommending the company as a takeover target, Buffett said. (Buffett is a director of The Washington Post Co.) Buffett said that he did not ask for the resignation and that Sokol’s stock purchases were not unlawful.
Jack Dorsey, former Twitter CEO, will return as product chief and executive chairman.
James Murdoch was named News Corp.’s deputy chief operating officer — the No. 3 job — possibly positioning him to one day take over the company.
Robert C. Ryan, the Federal Housing Administration’s chief risk officer, was tapped as the agency’s acting commissioner. Outgoing FHA Commissioner David H. Stevens is leaving the agency to head the Mortgage Bankers Association.
UP: 3.6 percent in Washington home prices
Region’s gain bucked the trend as home prices in 20 metro markets fell an average of 3.1 percent from a year ago in January, according to the S&P/Case-Shiller index.
The Washington Post and news services
When Buzz launched a year ago, some user contacts were made visible to others. Now Google will submit to audits of its privacy practices every two years.
In a shift in strategy to counter the rise of Facebook and Twitter, Google is offering a social aspect to Web searches, allowing users to recommend search results to others. The effort, called “plus one,” would require users to create a public profile.
Business
Amazon.com will offer a service for people to store music and video online and access it from multiple devices.
NVR chief executive Paul Saville landed $31 million, among the largest executive compensation payouts in 2010.
Paul Allen’s memoir details a difficult relationship with Microsoft co-founder Bill Gates. “Idea Man: A Memoir by the Co-founder of Microsoft” was penned without Gates’s support.
Google has partnered with MasterCard and Citigroup to adapt technology in Android devices for mobile payments. Shoppers can wave their phones past a gizmo to pay.
Harry & David, a fruit retailer, filed for Chapter 11 bankruptcy protection with $100 million in debtor-in-possession financing from UBS and Ally Bank and $55 million from others. Poor holiday results reduced the company’s access to credit.
American Airlines is suspending until April 26 two of six daily flights to Japan because of a slump in traffic since the earthquake and tsunami.
United Auto Workers membership rose 6 percent, to 376,612, last year as automakers began hiring. It was the union’s first gain in six years.
Toyota told its U.S. car dealers to stop ordering 233 replacement parts made in Japan because the company is worried about running out of them.
Honda said it will temporarily cut production at its North American auto factories because of parts shortages.
Aflac’s talent search for its next spokesduck yielded 1,000 inquiries. “We’re calling it America’s best job,” said Michael Zuna, chief marketing officer. Comedian Gilbert Gottfried, who gave voice to the duck for a decade, was fired after making insensitive remarks on Twitter about the disaster in Japan.
Google announced that Kansas City, Kan., won the company’s contest to build a one-gigabit-per-second network in a U.S. city — with connections more than 100 times as fast as the U.S. average.
Nokia escalated its allegations against Apple, saying its rival violated patents “in virtually all of its products.”
Ally, former finance arm of General Motors, said it is preparing an IPO as it seeks to repay billions in government aid received during the financial crisis. The IPO could raise up to $100 million.
Former Galleon Group portfolio manager Adam Smith testified that the firm used insider tips as an “edge” in a strategy to make money when company revenue figures differed from the Wall Street consensus. Jurors in the criminal trial of Raj Rajaratnam also heard that he had a pipeline to nonpublic information about Goldman Sachs.
Families of those killed in the Deepwater Horizon blast are reaching settlements of $8 million to $9 million.
AMC’s “Mad Men”will not return this summer as expected. Contract talks will delay the fifth season until early 2012.
Deals
Nasdaq and ICE made an aggressive counter bid to buy NYSE Euronext; the offer tops the deal agreed upon with Deutsche Borse.
EBay agreed to buy GSI Commerce in a $2.4 billion deal to bolster eBay’s position against rival Amazon.com.
Berkshire Hathaway’s proposed $9 billion acquisition of Lubrizol will trigger millions of dollars in payments for the specialty chemical company’s top executives. Lubrizol chief executive James Hambrick could receive $97.3 million, based on his stock-based compensation package.
Warner Bros. is in advanced negotiations to acquire the popular movie ratings Web site Flixster for $90 million, signaling a big push into social networking by the network.
GE agreed to pay $3.2 billion for a controlling stake in French equipment developer Converteam as it continues to position itself as a major player in what’s expected to be a 20-year boom in oil and natural gas demand.
Earnings
Lennar, the homebuilder, posted a $27.4 million profit in the first quarter, beating a prior-year loss of $6.5 million.
Economy
Jobs report showed signs of strength as the U.S. economy added 216,000 jobs in March; the unemployment rate fell to 8.8 percent, a two-year low.
Americans increased spending 0.7 percent — more than forecast — in February as incomes climbed.
U.S. consumer confidence dropped more than forecast in March as fuel costs surged to a two-year high.
New-car sales were up in March, and Ford’s sales beat General Motors’ for the first time in more than a year.
Washington
Congress and the White House worked on a compromise spending bill — with $33 billion in cuts to the budget — to avert a partial federal shutdown April 8.
President Obama proposed steps to cut U.S. dependence on oil, including subsidies for cars that run on natural gas.
The Supreme Court will take up a sex discrimination class-action case against Wal-Mart that may involve as many as 1.5 million women seeking back pay that could total billions of dollars.
Federal regulators proposed mortgage lending rules that would force lenders to do a better job of ensuring the quality of loans.
Ohio’s legislature voted to limit public workers’ collective-bargaining rights. Gov. John Kasich (R) is expected to sign it.
Federal Reserve chief Ben Bernanke told lawmakers that, having received an “extraordinary volume” of comments, the Fed would miss the April deadline for a rule capping debit-card “swipe fees.”
An FDA chemist was charged by the SEC with insider trading; he allegedly made as much as $3.6 million using confidential data about drug approvals.
Transitions
David Sokol, one of Warren Buffett’s top managers and a possible successor at Berkshire Hathaway, resigned after helping to negotiate the acquisition of a company whose shares he had purchased. Sokol, 54, bought about 96,000 Lubrizol shares before recommending the company as a takeover target, Buffett said. (Buffett is a director of The Washington Post Co.) Buffett said that he did not ask for the resignation and that Sokol’s stock purchases were not unlawful.
Jack Dorsey, former Twitter CEO, will return as product chief and executive chairman.
James Murdoch was named News Corp.’s deputy chief operating officer — the No. 3 job — possibly positioning him to one day take over the company.
Robert C. Ryan, the Federal Housing Administration’s chief risk officer, was tapped as the agency’s acting commissioner. Outgoing FHA Commissioner David H. Stevens is leaving the agency to head the Mortgage Bankers Association.
UP: 3.6 percent in Washington home prices
Region’s gain bucked the trend as home prices in 20 metro markets fell an average of 3.1 percent from a year ago in January, according to the S&P/Case-Shiller index.
The Washington Post and news services
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