Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

On Wednesday, the S&P 500 rose 12.97 points, or 0.7%, to end at 1,946.72. The Dow gained 91.26 points, or 0.6%, to 16,651.80. The NASDAQ composite climbed 44.87 points, or 1%, to 4,434.13.

Benchmark U.S. crude rose 22 cents to $97.59 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for many international crudes used by U.S. refineries, rose $1.26 to $104.28 in London. Wholesale gasoline gained 2 cents to $2.754 a gallon. Heating oil rose 5.7 cents to $2.902 a gallon. Natural gas slumped 14.3 cents to $3.831 per 1,000 cubic feet.

CLARION SELLS MEXICAN INTEREST FOR $600 MILLION
NEW YORK—Clarion Partners, has sold its 50% interest in a portfolio of nine class A Mexican shopping centers totaling 3.17 million square feet to Frisa, the current joint venture partner. Frisa is a full-service real estate company that provides design, development and management services and holds one of the largest retails portfolios in Mexico. The portfolio, which is valued at approximately $600 million, is comprised of six fully stabilized and mature assets, which have a total average occupancy of 96.4% and three assets in the lease-up stage with an average occupancy of 77.9%. It includes properties in Mexico City suburbs, Acapulco, Ciudad Madero and Tampico.

CVS ENTERS SEATTLE MARKET
Woonsocket, R.I. – CVS/pharmacy launched its entrance into the Seattle market with the grand opening of a new location in the city of Renton, the first CVS/pharmacy in the state of Washington. In addition to the new store in Renton, the company will open two more Seattle-area stores in 2014 and will open its first store in the city of Seattle next summer. With its entrance into Seattle, CVS/pharmacy now has a presence in all 20 top drugstore markets in the U.S. The Renton store is one of the first tobacco-free CVS locations in the U.S.

MOST BACK-TO-SCHOOL SHOPPERS AREN’T BUYING COMPUTERS
Boise, Idaho – More than half of back-to-school shoppers will not purchase computers this year. According to the Crucial.com Back-to-School Shopping Report, which includes responses from 1,000 adults in the U.S., found that 57% of respondents do not plan to purchase laptops, desktops, tablets, or mobile devices for school this year, as a vast majority of consumers are increasingly concerned with becoming more frugal. The research showed U.S. consumers, and back-to-school shoppers in particular, are seeking ways to cut back where they can. Seventy-three percent of respondents said they were very concerned with saving money, a number that increased to 82% for back-to-school shoppers. In general, 82% of respondents said it was more important to save money than save time, and 81% said they would be most inclined to put money toward savings or paying off bills if given $1,000 to spend. Back-to-school shoppers cited several ways they save money, including clipping coupons (82%), do-it-yourself projects (57%), and buying generic brands (57%). In addition, 61% of back-to-school shoppers said they would try to fix a slow computer themselves to save money, rather than spend money on expensive repairs. Fifty-eight percent said they expected a computer to last at least five years.

CST BRANDS – 38 NEW STORES PLANNED
San Antonio – Motor fuel and convenience store operator CST Brands Inc. reported net income of $32 million in the second quarter of fiscal 2014, down 22% from $41 million in the second quarter of the prior fiscal year. Until May 1, 2013, CST was still a wholly owned subsidiary of Valero and, as such, second quarter 2013 results do not include all of the expenses associated with being a public company. CST currently expects to build 30 new stores in the U.S. and eight new stores in Canada during 2014. These new stores provide a much larger footprint, more product variety and enhanced offerings such as food service. Year to date, CST has opened 12 new stores in the U.S., and two stores in Canada. Operating revenues rose 3% to $3.3 billion, from $3.2 billion.

GAP LAUNCHES @GAPKIDS SOCIAL PROMO
San Francisco — Gap is launching the inaugural GapKids Class of 2014, a social media contest inviting parents to submit photos of their kids for the chance to be featured in a 2015 GapKids marketing campaign. This is Gap’s next generation of Casting Call, a marketing program that lasted six years. Everyone who enters will receive a socially sharable moving image video of their child that encapsulates the GapKids aesthetic. In addition to sharing social content, Gap has built a new @GapKids social network as a place for parents to explore content on Instagram, Twitter and Pinterest. As part of the submission process, Gap is asking parents to submit three charismatic photos of their child between now and Sept. 15. After a submission is processed, parents will be emailed a 15-second video of their child’s photos. Photos can be submitted through Instagram, Facebook, mobile phone or desktop. During the month of October, a panel of Gap judges in each global region will narrow down the field of submissions to 20 finalists – 10 babies/toddlers (five girls and five boys) for babyGap and 10 kids (five girls and five boys) for GapKids. Parents of regional finalists will receive a questionnaire to fill out for additional content needs. In November, the four winners of each region will be announced on the Gap digital channels. The winners will participate in a photoshoot taking place in their region and they will be featured in a Gap marketing campaign in early 2015.

CO-FOUNDER, BEN & JERRY’S TO KEYNOTE MARIJUANA BUSINESS CONFERENCE
Ben Cohen, Co-Founder of Ben & Jerry’s, will be the keynote speaker at Marijuana Business Daily‘s 3rd annual Conference — the largest and oldest trade show for the industry. Cohen will share his entrepreneurial wisdom and message of corporate social responsibility with the Conference’s more than 1,500 attendees. Plus, Cohen will serve as Guest Judge at the Conference’s brand new Marijuana Business Pitch Slam, a contest for cannabis entrepreneurs learning to polish investor pitch skills. (The Pitch Slam is an educational event, not intended as a solicitation of funds.)

STATE REGULATORS OKAY SALE OF TUCSON ELECTRIC POWER’S PARENT COMPANY
PHOENIX – The Arizona Corporation Commission yesterday unanimously approved the $4.3 billion sale of UNS Energy Corp. to Fortis Inc., a Canadian utility. The deal is expected to be finalized by the end of the month and not have any dramatic effect on ratepayers. However, Tucson Electric Power (TEP) customers will see small billing reductions – about a $1 month on average for residential customers and $200 for commercial users – under a provision of the merger deal that calls for $30 million in credits to be distributed among ratepayers over five years. Under other conditions of the merger, Fortis has committed to maintain or improve service quality, keep its current charitable commitments for at least five years, and in future rate cases filed through 2020, the company must show any proposed increases in bills are lower than they would have been without the acquisition.
UNS Energy Corporation: https://bit.ly/1Ae2WtY
Tucson Electric Power: https://bit.ly/1rrwhfe
Fortis Inc.: https://bit.ly/1pO0BkV
Arizona Corporation Commission: https://bit.ly/1q8H2kK

BUSINESSES SEEING INCREASE IN SALES ALONG STREETCAR ROUTE
TUCSON – The Sun Link Tucson Streetcar only has been carrying passengers just shy of three weeks, but businesses along the 3.9-mile route say they’re already seeing a increase in customers. “We normally close at six, but we’ve had a lot of people coming up to the door when we’re ready to leave. So, we come back in and take care of them,” said Mark Levkowitz of the downtown Chicago Music Store on East Congress Street. “So, we may consider changing our hours.” Operators of nearby Tucson Olive Central say people are getting off the streetcar to browse and buy.

ENTREPRENEURSHIP THE ANSWER FOR SOME WITH AUTISM
NEW YORK (AP) — Matt Cottle is one of a few known small business owners with autism, a brain disorder that affects a person’s ability to comprehend, communicate and interact socially. There are varying degrees of autism, but even autistic people with the greatest capabilities can find it impossible to get a job because they take longer to read or process information, or because they struggle to hold conversations. One in 68 people have some form of autism, according to government figures. There is a growing movement to help autistic adults find jobs, but for Cottle and his family, the answer was a business of his own.

AMAZON DEBUTS MOBILE PAYMENT APP AND CARD READER
NEW YORK (AP) — Amazon’s new credit-card processing device and mobile app is designed to help small business owners accept payments through their smartphones and tablets. Amazon Local Register places the largest U.S. e-commerce retailer in competition with Square and other established mobile payment processing systems such as PayPal Here and Intuit’s GoPayment. The service is designed to serve on-the-go small business owners who might otherwise only accept cash or checks, including massage therapists, food truck operators and artists who sell their work at outdoor fairs.

ATHENS OLYMPICS LEAVE MIXED LEGACY, 10-YEARS LATER
ATHENS, Greece (AP) — In an obscure corner of a park sits a forlorn reminder that, 10 years ago, Athens hosted the 2004 Summer Olympics: A crumbling miniature marble theatre. Once a symbol of pomp, the marble theatre is now an emblem of pointless waste in a venture that left a mixed legacy: a brand-new subway, airport and other vital infrastructure that significantly improved everyday life in a city of 4 million, set against scores of decrepit sports venues built in a mad rush to meet deadlines — with little thought for post-Olympic use. As Greece groans under a cruel economic depression, questions linger of whether the Athens Games were too ambitious an undertaking for a weak economy. While economists agree it would be unfair to blame the meltdown on the 17-day Games, the post-Olympic era is seen as a decade of lost opportunities — including failure to significantly boost the country’s sporting culture.

US RETAIL SALES FLAT IN JULY
WASHINGTON (AP) — The Commerce Department said Wednesday that seasonally adjusted U.S. retail sales were unchanged in July compared with the prior month. Total sales rose a statistically insignificant $161 million from $439.6 billion in June. The figures suggest that Americans are hesitant to spend, which could limit growth for the economy. Retail sales are closely watched because consumer spending accounts for 70 per cent of economic activity.

DRUGMAKER NOT READY TO USE EBOLA DRUG IN AFRICA
WASHINGTON (AP) — A Canadian drugmaker working on an experimental drug for Ebola said Wednesday that it is not ready to make the treatment available in Africa, despite assurances by international health officials that it is ethical to use untested treatments to fight the deadly outbreak. Tekmira Pharmaceuticals Corp. said that the “regulatory framework” for giving its drug to patients in Africa is not clear, given that the drug’s safety and effectiveness has not been established. CEO Mark Murray said the company is continuing discussions with governments and international agencies trying to contain the outbreak, including the World Health Organization.

LIGHTER SENTENCES SOUGHT FOR SOME BUSINESS CRIMES
WASHINGTON (AP) — The federal panel that sets sentencing policy eased penalties this year for potentially tens of thousands of nonviolent drug offenders. Now, defense lawyers and prisoner advocates are pushing for similar treatment for a different category of defendants: swindlers, embezzlers, insider traders and other white-collar criminals. Lawyers who have long sought the changes say a window to act opened once the U.S. Sentencing Commission cleared a major priority from its agenda by cutting sentencing guideline ranges for drug crimes. The commission, which meets Thursday to vote on priorities for the coming year, already has expressed interest in examining punishments for white-collar crime. And the Justice Department, though not advocating wholesale changes, has said it welcomes a review.

CISCO TO LAY OFF UP TO 6,000 WORKERS
NEW YORK (AP) — Cisco said Wednesday that it will lay off up to 6,000 workers, or 8 per cent of its workforce, as part of a restructuring. The company, which makes routers, switches and software, said the layoffs will affect workers in operations around the world. The announcement was made during a conference call discussing its fiscal fourth-quarter earnings. The San Jose, California-based company on Wednesday reported a 1 per cent decline in profit, to $2.25 billion, as revenue dipped to $12.36 billion from $12.42 billion.

MACY’S 2Q PROFIT FALLS SHORT; SALES OUTLOOK CUT
NEW YORK (AP) — Macy’s Inc. on Wednesday reported a 4% profit increase in its fiscal second quarter as business rebounded from slow sales earlier in the year. But the department store chain cut its full-year outlook for a key sales measure, saying it couldn’t make up the sales shortfall from the first quarter, when winter storms kept shoppers at home. Like many retailers catering to the middle class, Macy’s is facing economic challenges. While the job market is improving and the housing market is rebounding, the gains are not strong enough to sustain big shopping sprees. Macy’s said Wednesday that it’s been pleased with the start to the back-to-school season, which typically begins mid-July and ends in mid-September. But Macy’s said it needs to continue to discount to bring shoppers in.

BURGER KING NIXES LOWER-CALORIE ‘SATISFRIES’
NEW YORK (AP) — Burger King is getting rid of its lower-calorie french fries at most restaurants after less than a year. The Miami-based chain said in a statement that it gave its franchisees the option to continue selling the french fries earlier this week. Only about 2,500 of the approximately 7,400 locations in the U.S. and Canada opted to continue selling them as a permanent item. The others have started phasing them out. The french fries, called “Satisfries,” were a big bet for Burger King when they were announced in September. But they weren’t as well received as Burger King had hoped.

GM SAYS CHINA VENTURE CONTACTED BY REGULATORS
General Motors Co.’s main China joint venture has joined automakers that say they have been contacted by Chinese anti-monopoly regulators as part of an investigation of the industry. Shanghai GM’s announcement follows government announcements that Audi and Chrysler will face unspecified penalties for violating the country’s anti-monopoly law. Mercedes Benz, Toyota’s Lexus luxury brand and Japanese parts suppliers also are under scrutiny. Regulators have launched a series of anti-monopoly probes of global automakers and technology suppliers, prompting suggestions Beijing is trying to force down prices.

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be. The U.S. stock market finished slightly lower on Wednesday, adding to its losses so far this year. A survey on hiring did little to ease uncertainty about the health of the economy.

Monday, the Dow Jones industrial average lost 34.04 points, or 0.2%, to close at 16,418.68. The Standard & Poor’s 500 index edged down 0.87 of a point to close at 1,877.17. The NASDAQ composite fell 1.77 points, or less than 0.1%, to 4,334.45. Benchmark U.S. crude for April delivery dropped $1.46 to $101.12 a barrel on the New York Mercantile Exchange.

TUCSON TRYING TO LAND 6,500 NEW JOBS WITH TESLA
TUCSON – The City of Tucson and TREO, the regional economic development agency, are trying to recruit Tesla Motors Inc. after Tesla announced last week that it plans a $5 bllion factory to make lithium ion batteries for Tesla’s Fremont, Calif assembly plant. Tucson Mayor Jonathan Rothschild says the 1,000 acres of land Tesla is wanting has been identified within the city boundaries and that the land has access to the Union Pacific mainline and the interstates. He also says the city has tax incentives to add to whatever incentives are offered by the Arizona Commerce Authority to lure Tesla to the state. When we contacted Tesla, we were told that Tesla Motors is considering sites in Nevada, Arizona, New Mexico and Texas for the massive battery factory that would employ around 6,500 people.  Tesla says it plans to directly invest $2 billion in the new plant, with the rest of the $5 billion coming from its partners. A company timeline shows Tesla wants to pick the site this year, build the facility in 2015, and begin production by 2017. Tesla said the factory would help lower its battery costs by around 30%.  Tesla’s shares rose nearly 3% to $259.90 in after-hours trading after the announcement. Tesla announced also on the same day its plans to raise $1.6 billion in a debt offering. The proceeds would help finance the new factory and the lower cost vehicle. Tesla Motors: https://bit.ly/1itICzy

CHIQUITA COMBINES WITH FYFFES TO BE TOP BANANA
LONDON (AP) — Chiquita has combined with Dublin-based Fyffes to become the world’s top banana company. The stock-for-stock transaction announced Monday creates a global banana and fresh produce company with $4.6 billion in annual revenues. The new company, ChiquitaFyffes, will have an operating presence in more than 70 countries and a workforce of approximately 32,000 people. It will become the largest company in the global banana market with sales of more than 160 million boxes annually. Chiquita Brands International is based in Charlotte, North Carolina, and has a big presence in the United States while Fyffes has a major presence in Europe.

McDONALD’S STRUGGLES WORSENED BY SNOW
NEW YORK (AP) — McDonald’s is fighting to hold onto customers in the U.S. — and all that snow didn’t help. The world’s biggest hamburger chain said Monday that sales fell 1.4 per cent in February at established U.S. locations. It blamed the harsh winter weather, but conceded that “challenging industry dynamics” also played a role. After years of outperforming its rivals, McDonald’s has been struggling to boost sales as people flock to places like Chipotle and Five Guys Burgers and Fries. Those chains have popped up quickly across the country by positioning themselves as a step up from traditional fast food in terms of quality, for a little extra money.

CHINA AUTO SALES RISE BUT LOCAL BRANDS WEAKEN
BEIJING (AP) — China’s auto sales rose 11.3 per cent in the first two months of this year but local brands suffered a decline, signalling intense competition in the world’s biggest auto market. Sales for the two-month period totalled 3.1 million vehicles, according to the China Association of Automobile Manufacturers. Sales by domestic auto brands declined 1 per cent to 1.2 million vehicles. Global automakers are spending heavily to develop models for Chinese tastes. That is squeezing fledgling domestic brands that lag in technology as buyers who used to see them as entry-level purchases demand better quality.

US NETWORK TO SCAN WORKERS WITH SECRET CLEARANCES
WASHINGTON (AP) — Stung by internal security lapses, U.S. intelligence officials plan to use a sweeping electronic system to continually monitor workers with secret clearances, current and former officials told The Associated Press. The system is intended to identify rogue agents, corrupt officials and leakers. Many of the nearly 4 million government employees who hold secret clearances would be scanned by the new system. An administration review of the government’s security clearance process due this month is expected to support the measure as part of a package of comprehensive changes. Workers with secret clearances are already required to undergo background checks of their finances and private lives before they are hired and again during periodic re-investigations.

AMERICAN DROPPED 14,000 FEB. FLIGHTS DUE TO STORMS
FORT WORTH, Texas (AP) — American Airlines and US Airways cancelled more than 14,000 flights last month — more than double the rate from a year earlier — as winter storms disrupted air travel. American Airlines Group Inc. said Monday that the cancellations hurt first-quarter profit, but it didn’t give a figure. Despite the cancellations, traffic rose 0.5%, as passengers flew 15.08 billion miles last month. American and US Airways boosted capacity by 0.8 per cent, so the average flight was a bit less crowded; 78.4 per cent full, down from 78.7 per cent a year earlier. All of the capacity increase was on international flying.

SBARRO AGAIN FILES FOR REORGANIZATION
NEW YORK (AP) — Sbarro said Monday that it is filing for bankruptcy reorganization, the struggling pizza chain’s second trip through the process in less than three years. The filing comes after the company shuttered 155 of its U.S. locations last month. Sbarro also filed for bankruptcy protection in April 2011 and emerged a few months later, saying that it significantly cut its debt and received a capital infusion. A new CEO then led a push to revitalize the chain’s image with new recipes and ovens. But the efforts apparently didn’t take hold. The company says its strategy of store closings and balance sheet restructuring will improve its profitability and reduce outstanding debt by more than 80 per cent.

NATURAL GAS INDUSTRY STRUGGLES TO KEEP PROMISES
HOUSTON (AP) — America’s plan to use more natural gas to run power plants, make chemicals, drive vehicles and heat homes may not go as smoothly as expected. There’s plenty of natural gas in the ground, everyone seems to agree. But the harsh weather this winter shows there are obstacles to producing it, and more pipelines have to be built. The bitter temperatures boosted demand for natural gas to heat homes and businesses. But wells in some places literally froze, making it difficult for some drillers to keep gas flowing. And the high demand clogged pipelines, so even when there was enough production, the gas couldn’t get where it needed to go. Shortages cropped up, and prices in some places soared to record levels.

SWISS: MONEY LAUNDERED FROM STANFORD PONZI SCHEME
GENEVA (AP) — The office of Switzerland’s attorney general says its criminal investigation into former Texas tycoon R. Allen Stanford’s massive Ponzi scheme has concluded that some of the victims’ money was laundered in Swiss accounts. The office says the years long investigation is complete and all of the assets remaining in Switzerland will be returned to fraud victims. The Stanford Group (Suisse) AG was fined 1 million Swiss francs ($1.1 million) and ordered to pay between 6 million and 9 million francs in claims. It has provided American authorities with banking documents and hearing transcripts for use in U.S. criminal proceedings. The U.S. Supreme Court ruled last month that Stanford’s victims can go forward with class-action lawsuits against those that allegedly aided the $7.2 billion fraud.

JAPANESE BITCOIN FILES US BANKRUPTCY CASE
DALLAS (AP) — The Mt. Gox bitcoin exchange that recently collapsed in Japan has filed for U.S. bankruptcy protection to shield itself from a lawsuit seeking to repay thousands of people whose digital currency is now missing. The U.S. filing made in Dallas late Sunday supplements a bankruptcy petition that Mt. Gox submitted in Japan at the end of last month. Mt. Gox was once the world’s largest exchange specializing in bitcoins, but now finds itself in a financial mess after losing about 850,000 bitcoins valued at $473 million, according to court documents. Although it’s based in Tokyo, Mt. Gox is opening a bankruptcy case in the U.S. in an attempt to delay a recent federal lawsuit filed in Illinois on behalf of all U.S. residents burned by the exchange’s abrupt demise.

TUCSON CONVENTION CENTER ARENA IMPROVEMENTS START MONDAY
TUCSON – The project will enhance the fan experience by improving the comfort, functionality, and appearance of the arena. Some of the renovations include upgrading the restrooms, revamping concession stands, developing a new entryway, improving the lighting and sound systems, and adding new seats with cup holders. The $7.8 million remodel is funded through the Rio Nuevo Multipurpose Facilities District and was approved by the Rio Nuevo Board on June 25, 2013. The renovations are scheduled to be complete in December 2014. Read the news release: https://1.usa.gov/NHvnO4

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

The Dow Jones industrial average lost 89.84 points, or 0.6%, to close at 16,040.56. The Standard & Poor’s 500 index fell 12.01 points, or 0.7%, to 1,828.75. The NASDAQ composite fell 34.83 points, or 0.8%, to 4,237.95. Benchmark U.S. crude for March delivery rose 88 cents to $103.31 a barrel in New York, after surging $2.13 on Tuesday.

SIGNET JEWELERS BUYING ZALE FOR ABOUT $900 MILLION
DALLAS (AP) — Signet Jewelers said Wednesday that it agreed to buy Zale Corp. for roughly $900 million to expand in North America.Bermuda-based Signet Jewelers Ltd. operates 1,400 stores in the U.S. under names such as Kay Jewelers and Jared The Galleria of Jewelry as well as 500 stores in the U.K. under the names H. Samuel and Ernest Jones. The company said it will pay $21 per share for Zale, a 41% premium to its $14.91 closing price Tuesday. Zale, based in Dallas, operates 1,680 stores in North America under Zales, Gordon’s and Peoples banners. The companies value the deal at $1.4 billion. Excluding the roughly Zale’s estimated $500 million in debt, the deal is worth about $900 million.

FACEBOOK BUYING MESSAGING APP ‘WHATS APP’ FOR UP TO $19 BILLION
NEW YORK (AP) — Facebook is buying mobile messaging service WhatsApp for up to $19 billion, by far the company’s largest acquisition. The world’s biggest social networking company said Thursday that it is paying $12 billion in Facebook stock and $4 billion in cash for WhatsApp. In addition, the app’s founders and employees will be granted $3 billion in restricted stock that will vest over four years after the deal closes. Facebook says it is keeping WhatsApp as a separate service, just as it did with Instagram, which it bought for about $715.3 million. WhatsApp has more than 450 million monthly active users. In comparison, Twitter had 241 million users at the end of 2014.

DOWNSIDE OF LOW INFLATION: A WEKAER GLOBAL ECONOMY
WASHINGTON (AP) — Since the Great Recession ended, Americans have struggled with high unemployment, static pay and a slow economy. One thing in their favor has been low inflation. But what the global economy could use right now is a dose of higher prices. Overall prices are barely budging because the economy is still weak. Low inflation keeps prices for goods and services low but it also slows growth. Last year, overall U.S. prices inched up just 1.1 per cent, according to the Federal Reserve’s preferred gauge. Inflation has stayed below the Fed’s 2 per cent target for two years. On Wednesday, the government said its producer price index, which tracks prices before they reach consumers, had risen just 1.2 per cent over the past 12 months.

AS GERMAN CAR SALES DROP, INDUSTRY BETS ON SHARING
BERLIN (AP) — Germans, once a nation of ardent automobile enthusiasts, are not buying cars as much as they used to. Instead, they’re sharing them. The country has become the world’s biggest user of one-way car sharing plans. The trend has been boosted by Germany’s powerful auto industry, which first ignored the car sharing phenomenon, but is now jumping on board. Some companies are betting big on the idea, not just for short trips within cities, but also for longer ones between them. New vehicle registrations fell below 3 million last year, continuing a two-decade decline. Meanwhile, the average age of buyers rose above 52 for the first time, compared with an average age of 46 in the mid-1990s.

FED MINUTES POINT TO CONTINUED PARING OF STIMULUS
WASHINGTON (AP) — Federal Reserve officials agreed at their January meeting that further gradual reductions in their stimulus would be appropriate as long as the economy keeps improving. According to the minutes of the meeting released Wednesday, officials weighed the need to stress to investors that the Fed’s key short-term interest rate would remain near zero. But officials couldn’t agree on how to modify their commitment to keep the rate there well-past the time the unemployment rate falls below 6.5 per cent. The rate is now 6.6%. Several participants argued that unless the Fed’s economic outlook changed, it should continue to reduce its bond purchases by $10 billion at each meeting this year.

FCC WON’T APPEAL RULING ON INTERNET NEUTRALITY
WASHINGTON (AP) — The Federal Communications Commission says it won’t appeal a court decision that struck down rules it designed to ensure that the transmission of all Internet content be treated equally. The agency says it will fashion new rules. The chairman of the FCC announced Wednesday that the agency will rewrite the anti-discrimination and anti-blocking rules following the ruling by a federal appeals court last month. The ruling said the FCC has the authority to regulate broadband providers’ treatment of Internet traffic but the agency failed to establish that its regulations don’t overreach. The court’s decision could affect the prices consumers pay to access entertainment, news and other online content.

SAFEWAY IN TALKS OVER POSSIBLE SALE OF COMPANY
NEW YORK (AP) — Safeway says it’s in talks to possibly put itself up for sale. The Pleasanton, Calif.-based supermarket operator says that discussions are ongoing but that it hasn’t yet reached an agreement. It also added that it isn’t certain that the talks will end in a deal. Safeway, which has more than 1,300 U.S. locations, says it’s postponing its investor conference that had been scheduled for early March. The company runs its namesake Safeway stores, along with Vons, Randall’s and other grocery chains.

VISA, MASTER CARD OFFER MORE PHONE PAYMENT OPTIONS
NEW YORK (AP) — Visa and MasterCard are introducing Internet-based technologies to make it easier for shoppers to buy things at stores without pulling out a credit card. The two technologies, announced separately on Wednesday, will give merchants and banks more options for incorporating so-called contact-less payment systems into their mobile apps. The customer uses the app to make purchases by tapping the phone to a store’s card reader. The technologies use a new feature in Google’s Android operating system. Before, card information had to be stored on a secured part of the phone. Now, it can be stored remotely instead. A retail or banking app on the phone then retrieves what’s needed to complete the transaction.

RODEO PARADE THURSDAY
TUCSON – Thursday February 20^th marks the 89th  annual Tucson Rodeo Parade. Organizers say there will be about 200 floats on display, and thousands of people are expected to watch the non-mechanized parade. The festivities begin at 9 a.m. at Park Avenue and Ajo Way, proceeding south on Park to Irvington Road. If you want a good viewing location, you should arrive early and bring a chair, plenty of water and sunscreen. The Rodeo Parade is the official kickoff for the Tucson Rodeo, also known as La Fiesta de los Vaqueros. Competition actually began last weekend and continues through Sunday at the Tucson Rodeo Grounds, 4823 S. 6th Ave. At approximately 8 a.m., Ajo Way between Sixth Avenue and Park Avenue, Park Avenue between Ajo Way and Irvington Road, and Irvington Road between Park Avenue and Sixth Avenue will be closed.  All streets should reopen sometime between noon and 1 p.m.  Access to the Veterans Administration Hospital will be provided on Veterans Boulevard at Sixth Avenue during the street closures for the parade.
Tucson Rodeo: https://bit.ly/1fdJZQH