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.

Friday, the Dow Jones industrial average fell 149.76 points, or 0.9%, to 15,698.85. The NASDAQ composite lost 19.25 points, or 0.5%, to 4,103.88. The Standard & Poor’s 500 index shed 11.60 points, or 0.6%, to 1,782.59. Benchmark crude oil for March delivery fell 74 cents to close at $97.49 a barrel on the New York Mercantile Exchange.

US STOCKS END TOUGH JANUARY WITH ANOTHER DECLINE
NEW YORK (AP) — Stock investors were hit from all sides in January. Concerns about the global economy and U.S. company earnings, as well as turmoil in emerging markets, led the Dow Jones industrial average to its worst start since 2009. However, many investors remain hopeful that the problems will not spill over into the rest of 2014. They even see the downturn as healthy, given the U.S. market’s rapid rise last year. The Dow slid 5.3% in January while the Standard & Poor’s 500 index fell 3.6% and the NASDAQ composite declined 1.7%.

GOVERNMENT MAY BLOCK TAKE OVER OF JOS A. BANKS’
Jos. A. Bank raised doubts Sunday about whether the federal government will approve the takeover bid by rival clothier Men’s Wearhouse. Jos. A. Bank Clothiers said that Men’s Wearhouse had yet to explain why the Federal Trade Commission would approve the proposed combination because of antitrust concerns. “It is a very serious step for the FTC to issue a second request,” the letter said. “Our two companies’ stockholders should understand that second requests are issued in less than 2% of all transactions filed with the government and a high percentage of those transactions are never completed.” The two retailers have been dueling since October when Jos. A. Bank, based in Hampstead, Md., offered $2.3 billion for Men’s Wearhouse.

WALMART, AMAZON SHOW CHANGING SHOPPING HABITS
NEW YORK (AP) — The financial strains and shifting shopping habits of Americans have led to uneven fortunes for retailers. Traditional consumer companies like Walmart and Mattel have continued to struggle as Americans spend more cautiously in the uncertain economy. Meanwhile, Amazon.com has flourished as shoppers increasingly buy online rather than head to stores. The trend was evident during the pivotal holiday shopping season, a time roughly from November through December when many retailers can make up to 40 per cent of their annual revenue. Overall, government figures show that spending during October through December rose at the fastest clip in three years. But exactly where — and how — Americans spent their money during the final months of the year shifted. Fewer people were in and out of stores during the holiday season, but more were shopping online.

STATE DEPARTMENT DELIVERS TO OBAMA REASONS TO SAY “YES” TO KEYSTONE PIPELINE
WASHINGTON – President Barack Obama is running out of reasons to say no to Keystone XL, the proposed oil pipeline that’s long been looming over his environmental legacy. Five years after the pipeline’s backers first asked the Obama administration for approval, the project remains in limbo, stuck in a complex regulatory process that has enabled Obama to put off what will inevitably be a politically explosive decision. But the release Friday of a long-awaited government report removes a major excuse for delay, ramping up pressure on the president to make a call. The State Department’s report raised no significant environmental objections to the pipeline, marking a victory for proponents, who argue the project will create jobs and strengthen America’s energy security. Environmentalists disagree and insist approval would fly in the face of Obama’s vaunted promise to fight climate change, even as the report gives him political cover to approve it. They argue the report, which provides a detailed assessment of tar sands emissions, offers Obama more than enough justification to oppose the pipeline. Obama is not tipping his hand. But the White House pushed back on the notion that the pipeline is now headed for speedy approval. Only after various U.S. agencies and the public have a chance to weigh the report and other data will a decision be made, said White House spokesman Matt Lehrich.

CLINTON BACKS OBAMA ON IRAN SANCTIONS
WASHINGTON – Former Secretary of State Hillary Rodham Clinton is warning Congress that new unilateral sanctions against Iran could upend sensitive international negotiations over its nuclear development, imploring lawmakers to work with the Obama administration in presenting a unified front to Tehran. Echoing President Barack Obama’s deep concerns about another round of tough economic penalties, Clinton said any congressional action could undercut U.S. work with its allies as well as American influence with Russia and China in forcing Tehran to negotiate after years of inconclusive talks. “Now that serious negotiations are finally under way, we should do everything we can to test whether they can advance a permanent solution,” Clinton said. “As President Obama has said, we must give diplomacy a chance to succeed, while keeping all options on the table.” Clinton offered her assessment in a three-page letter to Sen. Carl Levin, D-Mich., the chairman of the Armed Services Committee. Levin’s office released the letter, dated Jan. 26, on Sunday. Levin and several other committee chairmen have expressed a willingness to hold off on sanctions to give diplomatic efforts a chance. However, 59 Republicans and Democrats back legislation to impose a new round of penalties on Iran, maintaining that crippling economic sanctions forced Tehran to make concessions.

BRANDS VIE TO STAND OUT AMID SUPER BOWL CHATTER
NEW YORK (AP) — If it’s on TV, it’s on Twitter, at least when it comes to blockbuster events such as the Super Bowl. Advertisers, in particular, are ready to capitalize.“What advertisers have realized is that Super Bowl advertising doesn’t just take place on TV, with your 30-second or 60-second spot that you paid millions of dollars for,” said Debra Aho Williamson, an analyst for research firm eMarketer. “You really need to have a broader presence.” Last year’s Super Bowl was interrupted by a 34-minute power outage — luckily, for one advertiser at least. Oreo seized on the opportunity and tweeted “you can still dunk in the dark.” It was retweeted and mentioned on Facebook thousands of times. Every brand wants to be this year’s Oreo. Brands are setting up social media “war rooms” so they can respond to memorable events as they happen — be it another blackout, a snow storm or a wardrobe malfunction — with clever, retweetable quips.

US CONSUMER SPENDING UP 0.4% IN DECEMBER
WASHINGTON (AP) — Americans increased their spending at a solid pace for the second straight month in December even though their income was flat. Consumer spending rose 0.4% in December, compared with November when spending had increased an even stronger 0.6%, the Commerce Department reported Friday. That was the best gain in five months. Income, however, showed no gain at all in December after a 0.2 per cent rise in November. Wages and salaries were basically flat last month, reflecting a sharp slowing in employment growth. For all of 2013, income growth was 2.8%, the weakest performance since 2009 when income fell 2.8% as the country struggled with a deep recession.

ARIZONA LAWMAKERS APPROVE $6.8 MILLION FOR CHILD PROTECTION
TUCSON – State lawmakers this past Thursday gave final approval to $6.8 million in additional funds for the state’s new child welfare agency. The measure requires a signature from Gov. Jan Brewer, who has advocated for the increased spending to fund the hiring of additional caseworkers. The legislation adds funding to the budget of the Division of Child Safety and Family Services, the new agency created earlier this month by the governor’s executive order. The agency will absorb much of what was in the troubled Child Protective Services division of the Department of Economic Security.

TUCSON POLICE OFFICERS GET NEW TRAUMA KITS
TUCSON – About 600 officers and sergeants in the Tucson Police Department (TPD) have been trained to use the new emergency kits, which aim to bridge the gap before medical help arrives from the Tucson Fire Department. The kits cost the department $39,000 and the department qualified for a military surplus program to help equip the kits with additional medical supplies for free, said Lt. Eric Kazmierczak of Operations Division South. The kits contain items such as special wound packing gauzes, a tourniquet, pressure dressings to treat severe wounds, a large bandage to cover abdominal wounds, and an airtight sticker that seals holes in the chest cavity.

TRAFFIC ALERT: UTILITY WORK ON AVIATION HIGHWAY THIS WEEKEND
TUCSON – The Arizona Department of Transportation (ADOT) will have intermittent closures on Barraza-Aviation Parkway (State Route 210), just west of Kino Parkway (milepost 2.08), from 6 a.m. to noon Sunday. Traffic will be stopped in 15 minute intervals during the work.

GOV. BREWER GETTING READY FOR NEXT YEAR’S SUPER BOWL
PHOENIX- Arizona Gov. Jan Brewer is in New York City for Super Bowl weekend and a ceremonial hand-off for next year’s big game in Glendale. Brewer’s spokesman Andrew Wilder says the governor is promoting Arizona (and its warm temperatures) on the trip and will meet tomorrow with New York Gov. Andrew Cuomo and New Jersey Gov. Chris Christie.

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 Thursday, the Dow Jones industrial average rose 109.82 points, or 0.7%, to 15,848.61. The NASDAQ composite jumped 71.69 points, or 1.8%, to 4,123.13. The Standard & Poor’s 500 index rose 19.99 points, or 1.1%, to 1,794.19.  Benchmark U.S. crude for March gained 87 cents to finish the day at $98.23 a barrel on the New York Mercantile Exchange.

SOLID GROWTH BRIGHTENS ECONOMIC OUTLOOK FOR 2014
WASHINGTON (AP) — Consumers will spend more. Government will cut less. Businesses will invest more. And more companies will hire. Add it all up, and you can see why expectations are rising that 2014 will be the best year for the U.S. economy since the recession ended 4 1/2 years ago. That’s why the Federal Reserve is pressing ahead with a plan to scale back its economic stimulus. The optimists got a boost Thursday from a government report that showed consumers fueled solid economic growth in the final quarter of 2013. The report lifted hopes that the economy will be able to withstand turmoil in emerging economies, a pullback in the Fed’s stimulus and mounting risks to the U.S. stock market over the next 12 months.

GOOGLE’S 4Q EARNINGS RISE 17% BUT AD RATES FALL
SAN FRANCISCO (AP) — Google’s fourth-quarter earnings rose 17% even though a long-running slump in its online ad prices deepened. The performance announced Thursday indicates that Google is still struggling to close the gap between the rates for ads shown on mobile devices and those on personal computers. Advertisers haven’t been willing to pay as much to reach prospective customers on the smaller screens of smartphones and tablets, but Google Inc. has been tweaking its digital marketing system so mobile and PC ad campaigns are bundled together. In doing so, Google Inc. is hoping advertisers eventually will recognize the advantages of reaching people on the go and gradually begin to pay higher prices for mobile marketing pitches.

BITING COLD PUTS A FREEZE ON RESTAURANT BUSINESS
TOLEDO, Ohio (AP) — The homemade matzo ball and beef barley soups are lost on customers walking into Rascals’ NY Deli — because there just aren’t very many of them. Across much of the eastern half of the country, bitter cold and snowstorms in recent weeks have put a chill on restaurants, bakeries and coffee shops, limiting the number of walk-in customers and shrinking tips. Some merchants report sales cut in half. And other businesses that rely on walk-ins and appointments are seeing a hit, including health care specialists and hair salons. They can expect to recoup some losses as people venture out in warmer weather, but for now, that’s cold comfort.

CHINA FACES OBSTACLES ON ROAD TO CONSUMER SOCIETY
BEIJING (AP) — Business should be picking up for Zhao Guoping, a Beijing shopkeeper, as Chinese leaders try to build a consumer society to replace a worn-out economic model based on trade and investment. But his financial struggle highlights the hurdles that ambitious effort faces. Squeezed by higher costs and weak sales to budget-minded shoppers, Zhao said the income from his neighborhood shop has fallen by half to 50,000 yuan ($6,000) a year. The reluctance of Zhao and his customers to open their wallets wider is one of a thicket of obstacles facing communist leaders as they try to rebalance China’s economy away from reliance on investment, a big share of which comes from the government and is losing its ability to boost growth. The government is walking a fine line, however, as an abrupt shift in the economy could hurt growth, with consequences not just for the country but the global economy. China’s economic importance was laid bare last week, when a report showing a drop in manufacturing activity caused turmoil on world markets.

TOYOTA TELLS DEALERS TO STOP SELLING 6 MODELS
DETROIT (AP) — Toyota has told North American dealers to stop selling six popular models with heated seats because the fabric doesn’t comply with U.S. safety codes and potentially could catch fire. The order affects 36,000 cars, trucks and minivans, about 13 per cent of the inventory on dealer lots in the U.S., spokesman John Hanson said. Also affected are additional vehicles in Canada, Mexico, Korea, Israel and other countries, but no total number was available. No fires or injuries have been reported, but Toyota can’t legally sell cars that don’t comply with U.S. safety codes, spokesman John Hanson said.

FROM MUPPETS TO PUPPIES, SUPER BOWL ADS GET CUTE
NEW YORK (AP) — Call it Cute Bowl. Adorable is the name of the game this year as Super Bowl advertisers try to grab your attention. That means lots of “cute” story lines, including a family that’s expecting a new baby and a horse that forms a long-lasting bond with a puppy. The saccharine spots are partly a result of more family-friendly brands like Cheerios and Heinz advertising this year. At the same time, fewer startups that tend to have more provocative commercials are in the advertising game this year.

AMAZON 4Q EARNINGS GROW BUT MISS EXPECTATIONS
SEATTLE (AP) — Amazon’s profit and revenue both grew in the latest quarter but its results fell below what Wall Street was expecting and shares of the world’s biggest online retailer tumbled. Amazon has long focused on spending the money it makes to grow its business and expand into new areas, from movie streaming to e-readers and even grocery delivery. Investors have largely forgiven thin profit margins and zeroed in on the company’s solid revenue growth and long-term prospects. It posted losses in two previous quarters due to rising operating costs.

MERCK JOINS COMPANIES ENDING CHIMPANZEE RESEARCH
TRENTON, N.J. (AP) — Drugmaker Merck & Co. is joining two dozen other pharmaceutical companies and contract laboratories in committing to not use chimpanzees for research. The growing trend could mean roughly 1,000 chimps in the U.S. used for research or warehoused for many years in laboratory cages could be “retired” to sanctuaries by around 2020. That’s according to Kathleen Conlee of the Humane Society of the United States, which seven years ago began urging companies to phase out all chimp research.

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.

Monday, the Dow Jones industrial average rose 73.47 points, or 0.5%, to 16,294.61. The Standard & Poor’s 500 index was up 9.67 points, or 0.5%, to 1,827.99. The NASDAQ composite rose 44.16 points, or 1.1%, to 4,148.90. Benchmark U.S. oil for February delivery dropped 41 cents to close at $98.91 a barrel on the New York Mercantile Exchange.

MEXICO’S OIL OUTPUT DIPS IN NOVEMBER

MEXICO CITY (Reuters) – Mexico’s Pemex produced 2.513 million barrels per day (bpd) of crude oil in November, down 1% from the previous month, the state-run oil monopoly said on Monday. Exports in November rose a slight 0.6% from October to 1.2 million bpd, according to data posted on Pemex’s website. Mexico’s crude output has fallen by about one quarter since hitting a peak of 3.4 million bpd in 2004. Mexican President Enrique Pena Nieto last week signed into law a radical reform of the country’s energy market, ending a 75-year oil and gas monopoly in the hope of attracting major investments to increase production.

TARGET STEPS UP BREACH INVESTIGATION WITH DOJ

NEW YORK (AP) — Target Corp. said the Department of Justice is investigating the security breach at the retailer that’s being called the second largest such incident in U.S. history. The DOJ declined to comment on whether it’s investigating Target, the nation’s second largest discounter. Target also said that it’s teaming up with the U.S. Secret Service in its own investigation. Target said the Secret Service has asked the company not to share many of the details of the probe. Target said earlier this week that data connected to about 40 million credit and debit card accounts was stolen in a period that began over the Thanksgiving weekend.

US CONSUMER SPENDING ROSE 0.5% IN NOVEMBER

WASHINGTON (AP) — Americans increased their spending in November by the most in five months, and their income edged up modestly. Consumer spending rose 0.5% from October, when spending had risen 0.4 per cent, the Commerce Department said Monday. It was the best showing since June. The gain was driven by a jump in spending on long-lasting durable goods such as autos. Consumer spending is closely followed because it accounts for about 70 per cent of economic activity. The strong November showing suggests solid economic growth this quarter.

JAPAN’S NIKKEI CLIMBS TO 6-YEAR HIGH AFTER WALL STREET RECORDS

TOKYO (Reuters) – Japan’s Nikkei share average climbed to a six-year high, edging closer to the 16,000-mark on Tuesday, driven by buying from long-only investors after U.S. Dow Jones and S&P 500 500 hit all-time highs. The Nikkei was up 0.8% at 15,990.20, hitting its highest level since December 2007. Driven by Tokyo’s massive fiscal and monetary stimulus, the Nikkei is up nearly 54% this year, on track for its best yearly performance since 1972.

MASS. DEAL WOULD CREATE MENINGITIS VICTIMS FUND

BOSTON (AP) — Attorneys for creditors of a Massachusetts pharmacy linked to a nationwide meningitis outbreak say they’ve reached a preliminary settlement that would set up a victim compensation fund worth more than $100 million. Attorney William Baldiga says the agreement was reached among creditors, the bankruptcy trustee and the owners and insurers of the New England Compounding Center. The deal needs approval from a bankruptcy judge. Since the contaminated steroids were discovered, 751 people in 20 states have developed fungal meningitis or other infections; 64 have died. Michigan, Tennessee and Indiana were hit the hardest. A federal investigation of the Framingham-based company is ongoing. The company’s owners say they deny liability or wrongdoing but want to play a major role in establishing the fund.

HEADPHONES, SPEAKERS TOP GIFT LISTS

ATLANTA (AP) — Headphones, speakers and other audio gear are topping the top holiday gift lists of many Americans. Audio equipment is among the top-selling electronics gifts this holiday season, accounting for 13% of the $8 billion in consumer electronics sales between Nov. 24 and Dec. 7, according to research firm NPD Group. Headphone sales rose 14%. Sales of sound bars, long, thin speakers that create surround sound, grew 80%. And wireless speaker sales nearly quadrupled. The trend is being driven in part by the economy. Audio gear, which can range from $10 for ear buds to thousands of dollars for a home theatre system, is being considered by some an affordable luxury during a still shaky economy. Americans also have spent the last several years buying tablets, smartphones and TVs. Now, many are looking for ways to squeeze better sound from those gadgets.

JOS. A BANK TURNS DOWN MEN’S WEARHOUSE OFFER

NEW YORK (AP) — Jos. A. Bank rejected a takeover offer from competitor Men’s Wearhouse, saying the $1.54 billion bid is too low. Men’s Wearhouse said Monday that it will “carefully consider all of our options to make this combination a reality.” That may include launching a proxy battle. Men’s Wearhouse said it could nominate director candidates at Jos. A. Bank’s next annual meeting. It’s the latest twist in the effort to combine the two companies. Putting the two together would create a men’s clothing powerhouse with more than 1,700 outlets.

HYUNDAI, KIA TO PAY UP TO $395 MILLION IN FUEL SETTLEMENT

Hyundai and its sister company Kia said Monday that they will pay up to $395 million to consumers as part of a proposed settlement over overstated gas mileage. The Environmental Protection Agency found inflated numbers on 13 Hyundai and Kia vehicles in November 2012. Hyundai and Kia acknowledged the problem, changed the fuel economy numbers and blamed a procedural error. Since then, Hyundai and Kia have been compensating owners with payments of around $88 annually, which is based on the amount the mileage was overstated and the average price of gasoline. Hyundai Motor Co. and Kia Motors are also offering an option of a lump-sum payment. The companies put a figure to it Monday

VEGAS CASINOS DRAW TOURISTS WITH HOLIDAY EXHIBITS

LAS VEGAS (AP) — Las Vegas has mostly shelved its attempt to rebrand itself as a family-friendly wonderland. But there’s one exception: the dreaded holiday season, when visitor numbers crater and room vacancies soar. In an attempt to lure tourists, Las Vegas casinos are staging increasingly elaborate holiday events. For example, the Bellagio has again transformed its conservatory into a faux winter wonderland featuring a 42-foot-tall Christmas tree, a life-sized candy house, a walk-through snow globe and topiary polar bears. The casino’s dancing water fountains are leaping to Christmas classics, and tourists are taking photos with a 250-pound chocolate Grinch.

BLACKSTONE’S LA QUINTA FILES CONFIDENTIALITY FOR IPO

(Reuters) – La Quinta Holdings Inc, a hotel chain backed by Blackstone Group LP, said on Monday it had confidentially filed with U.S. regulators for an initial public offering of its common stock. The company has filed with the U.S. Securities and Exchange Commission under the controversial Jumpstart Our Business Startups (JOBS) Act, which allows firms to submit registration documents to the SEC away from public eyes. Reuters reported earlier that Blackstone was seeking as much as $4.5 billion for the La Quinta chain in an auction that attracted interest from hospitality holding companies such as Choice Hotels International Inc. as well as private equity firms. With more than 830 hotels, La Quinta is one of the largest owners and operators of budget hotels in the United States. Blackstone took La Quinta private in 2006 in a $3.4 billion deal. The number of shares of common stock to be sold and the price range for the proposed offering have not yet been determined, the company said.