Gas prices near record but economy holds steady
The price of gas has risen to about 3.73 per gallon, the highest for this time of year, yet economists say the economy remains resilient. With 2 million new jobs last year and unemployment claims near a four year low, consumer spending is supported even as pump prices climb. If gas nears 4.00, sentiment and spending could soften.
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Facebook to mix brand ads with user updates ahead of IPO
Facebook unveils new advertising options allowing brands like Walmart and Starbucks to push deals into users news feeds. Ads may appear when friends interact with a brand and on mobile, as the company pursues major brand revenue before an expected spring IPO valuing the firm around 100 billion.
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Judge blocks graphic cigarette warning labels in packaging
A federal judge in Richmond blocked a government rule that would force U.S. tobacco makers to include large graphic images on cigarette packs to warn of smoking dangers. Judge Richard Leon ruled the mandate violates free speech and noted pending litigation. The FDA says public health interests outweigh corporate speech rights.
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James Murdoch resigns from News International post
James Murdoch steps down as executive chairman of News International amid the phone hacking scandal. He remains deputy chief operating officer of News Corp and shifts to a TV executive role, with Chase Carey expected to gain influence. Shares rise on the news as scrutiny continues.
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