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NEW YORK

Task force to talk with GM, Delphi officials

Officials from Delphi Corp. and its former parent General Motors Corp. will meet with representatives from President Barack Obama’s auto task force on Monday for talks that could get the struggling auto supplier out of bankruptcy protection.

The talks also will involve Delphi’s lenders and creditors.

U.S. Bankruptcy Judge Robert Drain on Thursday approved a timetable for the parties to reach some kind of deal, setting a deadline of April 17 for Troy, Mich.-based Delphi to submit its plan.

NEW YORK

Rite Aid loss doubles during fourth quarter

After Rite Aid Corp.’s loss doubled in its fiscal fourth quarter, the drugstore operator is planning to close as many as 117 stores over the next year as it tries to cut costs.

About 70 of the stores slated for closure used to be part of the Brooks Eckerd chain. Rite Aid bought 1,850 of those stores in June 2007 for $2.36 billion, but they have not done as well as Rite Aid’s older stores, a trend continued in March.

Rite Aid had 4,901 stores in 31 states at the end of February. The retailer plans 20 store openings and 55 relocations in fiscal 2010, which ends Feb. 28. Rite Aid closed 200 stores in fiscal 2008, cutting its store count by 158. Twenty-eight of them were in Southern Nevada.

The Camp Hill, Pa.-based drug retailer said its quarterly net loss widened to $2.29 billion, or $2.67 a share, from $952.2 million, or $1.20 a share, a year earlier.

Revenue fell 1.6 percent, to $6.71 billion from $6.82 billion, as the retailer closed stores.

TORONTO

Research in Motion profits rise, top outlook

Shares of BlackBerry maker Research in Motion Ltd. said its profit jumped in its fiscal fourth quarter, surpassing analysts’ expectations.

The company said it earned $518.3 million, or 90 cents per share, for the quarter ended Feb. 28. That was up 26 percent from the year- earlier period.

Analysts polled by Thomson Reuters had expected a profit of 84 cents per share.

Sales rose 84 percent, to $3.46 billion from $1.88 billion.

Waterloo, Ontario-based RIM said it added roughly 3.9 million BlackBerry subscriber accounts during the quarter, bringing the total to 25 million.

WASHINGTON

Payday loan industry lobbies for survival

The payday loan industry, threatened by Congress with extinction, has deployed well-connected lobbyists and hefty sums of campaign cash to key lawmakers to save itself.

The strategy has paid off.

Now a top Democrat who once tried to ban the practice is instead pushing to regulate it — a result, he says, of the industry’s lobbying clout.

The lawmaker, Rep. Luis Gutierrez, D-Ill., says his bill does have crucial protections for borrowers and represents the best deal he can manage in the face of the industry’s aggressive lobbying. Consumer groups are condemning the bill as a loophole-riddled gift to the industry.

Payday loans are small, very short-term loans with extremely high interest rates that are effectively advances on a borrower’s next paycheck. Finance charges typically amount to annual interest rates in the triple digits, around 400 percent, and can go as high as double that.

WASHINGTON

Ex-chief says he didn’t mismanage insurer AIG

The man who built insurance giant American International Group Inc. from a startup to a global behemoth said he didn’t mismanage the company — but the government did.

Following weeks of public and congressional outrage over largest corporate failure in U.S. history, Maurice “Hank” Greenberg, AIG’s chief executive until March 2005, said taxpayers got a raw deal in the largest bailout of the financial crisis.

In his first testimony since the government stepped in with the first of four bailouts for AIG, Greenberg told the House Oversight and Government Reform Committee on Thursday that his leadership team had “nothing to do” with failures that so far have cost taxpayers more than $182 billion.

But he spread blame across virtually every other party involved in the company and its rescue — including subsequent management, federal regulators and ratings agencies.

NEW YORK

Intel, GE will invest in health care gadgets

Intel Corp. and General Electric Co. are jointly investing $250 million over the next five years to develop personalized home health care devices.

The companies envision products that will cut health care costs and help aging baby boomers and people with chronic illnesses remain in their homes by allowing doctors to monitor patients remotely.

Announcing the agreement Thursday, Intel Chief Executive Paul Otellini and GE CEO Jeffrey Immelt said their cooperation will help them jump quickly into a market they estimate will grow to $7.7 billion by 2012, from $3 billion this year.

PITTSBURGH

Plant’s $1 billion redo put off by U.S. Steel

United States Steel Corp. said Thursday it is delaying indefinitely a $1 billion upgrade of a coke plant near Pittsburgh to cut costs as the global economic downturn saps demand for steel.

The Pittsburgh-based company has said the project at the Clairton plant was expected to create more than 600 construction jobs and ensure thousands of existing jobs.

The improvements were meant to reduce environmental emissions at the plant, the country’s largest production facility for coke — coal that’s baked and used as a fuel in steel making.

NEW YORK

Treasury prices decline as stocks head higher

Treasury prices fell Thursday as stocks extended their rally.

The benchmark 10-year Treasury note fell 0.91 points to 99.91. Its yield rose to 2.75 percent from 2.65 percent late Wednesday.

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Business
Bellagio Conservatory transformed to celebrate Year of the Pig
The Bellagio Conservatory Team transformed the 14,000 square foot conservatory to commemorate Chinese New Year, the holiday that marks the end of the coldest days of winter. (Rachel Aston/Las Vegas Review-Journal)
CES 2019: Intro uses sound to connect people
Intro, a startup that is part of the Future Worlds Accelerator in the UK, has an app that uses ultrasonic sound to find people and companies nearby.
CES 2019 Video: CES wraps up another year
Time-lapse video of the action at CES 2019 in Las Vegas. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Create your own beauty products
Beauty Mix by BeautyByMe is a product that lets you create your own cosmetics and beauty products. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Picobrew’s home brew machine
Picobrew brings automation to homebrewing. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Surviving CES
What it's like to spend four days working the mammoth tech convention. (Jason Bracelin/Las Vegas Review-Journal)
Haier’s smart home
Haier presented smart home technology at CES 2019.
CES 2019 VIDEO: Foldimate makes laundry day easy
Foldimate has created a machine that will fold your laundry for you. Just feed it anything you need folded and it will do the rest. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Opte device corrects skin spots
Opte from Proctor and Gamble is a device for correcting spots and freckles from skin. It analyzes the area for spots and then covers them with a serum of matching skin tone. (Mat Luschek/Las Vegas Review-Journal)
Circa hotel-casino in downtown Las Vegas unveiled
Derek Stevens reveals Circa hotel-casino in downtown Las Vegas. He plans open by the end of 2020. (K.M Cannon/Las Vegas Review-Journal)
Circa, new casino coming to Fremont Street
Casino owner Derek Stevens announces his new property Circa, coming to Fremont Street in downtown Las Vegas in late 2020. (Michael Quine/Las Vegas Review-Journal)
Dreenk My Oeno makes wine suggestions
At CES 2019 in Las Vegas, the Dreenk My Oeno tells you all about wine.
Polaroid One Step Plus camera unveiled at CES 2019
Polaroid has moved into the digital age with its One Step Plus camera with Bluetooth. With the connected app, it turns your smartphone into a remote for the camera, along with filters and features.
Amazon is everywhere at CES 2019 in Las Vegas
Seemingly everything works with Amazon Alexa
LG Smart Mirror helps you dress snazzy
LG’s Smart Mirror is less of a mirror but more of an assistant to help get you looking snazzy. It takes your image and recommends clothes for you or matches existing clothes with new clothes, which can be purchased right from the mirror. (Mat Luschek/Las Vegas Review-Journal)
Underwater robots make waves at CES 2019 in Las Vegas
Robosea is a company dedicated to underwater robotics. They produce consumer robots for underwater filming as well as commercial products which can be used for underwater research. (Mat Luschek/Las Vegas Review-Journal)
CES 2019 - Victrola record players spin in Las Vegas
A new spin on an old favorite, Victrola record players are meeting a demand for retro products. The brand is also making furnitures with built-in speakers.
CES 2019: Slamtec robots ready to serve
Slamtec is a robotics company out of China whose goal is to provide solutions for laser localization mapping and navigation. They have created two autonomous robots that can be used in areas such as bars, restaurants and malls. (Mat Luschek/Las Vegas Review-Journal)
Mixologiq drink maker appears at CES 2019 in Las Vegas.
This is the Mixologiq drink maker.
CES 2019: Veritable smart garden
Let’s face it; not all of us have green thumbs. And herbs are particularly difficult to grow, considering their constant need for sunshine. Enter the Veritable smart garden from Exky, which does it all for you. (Heidi Knapp Rinella/Las Vegas Review-Journal)
Bonnie Springs Ranch near Las Vegas being sold to developer
Bonnie Springs Ranch near Las Vegas is being sold to a developer, set to close in March. Bonnie Springs, west of Las Vegas off State Route 159 — next to Spring Mountain Ranch State Park — spans more than 60 acres and was on the market for $31 million. The developer and his project partner are under contract to buy the ranch and plan to chop it up mostly into custom-home lots. The plans includes a 25-room motel, a restaurant and a 5,400-square-foot event barn.
Bone-conduction headphones form Aftershokz
Aftershokz offers bone-conduction headphones - headphones that don’t go in the ear.
CES Happy Hour party at Hangover Suite at Caesars Palace
Conventioneers mingled during the Hardware Massive CES 2019 Happy Hour Bash at The Hangover Suite at Caesars Palace in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Autonomous Cars and Futuristic Aircraft Rule CES
Day two of CES was dominated by autonomous cars and futuristic aircraft in the North Hall of the Las Vegas Convention Center.
TekNekSavr fights neck problems caused by smart phones
Atiya Syverson invented the TekNekSavr to help fight neck and head problems caused by strains while typing on smart phones. (Mat Luschek/Las Vegas Review-Journal)
New eyeglasses know if you fall and call for help
The French company Abeye has created eye glasses that will detect if the wearer falls and call for help. (Mat Luschek/Las Vegas Review-Journal)
Company that creates vibrator-like device claims genders bias against CES
Lora DiCarlo is a women-run start-up that creates a vibrator-like device designed for female pleasure called the Osé. This year they were awarded the CES Innovation Award in the Robotics and Drone Category, but a month later the Consumer Technology Association, which runs CES, rescinded the award and their booth. Haddock and her team believe it is a reflection of gender bias and sexism in an industry with a long history of male domination.
CES-Wagz has new pet products
Wagz has three new products to help create better lives for your pets in a digital world. One is a collar with LTE tracking and an HD camera. Also a smart pet door that only lets your pet in and out. Lastly, a device to humanely keep Fluffy out of certain areas of your home. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Varram lats you play with your pet remotely
Varram’s pet robot is designed to let you remotely interact with your real pet. (Mat Luschek/Las Vegas Review-Journal)
CES-Formlabs releases new products
Formlabs, a company that produces 3D printers for professionals, has released two new products that can be printed on their hardware. One is a material to print dentures, and the other is an elastic-like material that can be used for printing various flexible pieces. (Mat Luschek/Las Vegas Review-Journal)
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