TODAY'S PAPER
65° Good Afternoon
65° Good Afternoon
Business

Biz Buzz

 

 

LONG ISLAND

 

 

 

AG cites gas price gouging

 

A Farmingdale gas station has been cited for price gouging during Tropical Storm Irene, the New York attorney general's office announced Wednesday. Attorney General Eric Schneiderman said a review of gas pricing practices found "unconscionably excessive" prices at the Farmingdale station and at a station in Yonkers. His office received complaints about both; neither admitted wrongdoing as part of the settlements. Investigators say JW Station Corp. in Farmingdale raised its price for unleaded gasoline from $4.05 per gallon to $4.89 for two days during the storm. It will pay $3,000 in civil penalties and costs. Parmod Food Mart Inc. of Yonkers raised its price from $3.82 to $4.79 and will pay $7,500. -- AP

 

 

Hauppauge Digital sales slip

 

Hauppauge Digital Inc. says two factors -- Europe's financial crisis, and the worldwide decline in sales of personal computers -- have resulted in a difficult year in which its sales declined 25 percent and its losses tripled. The company, with about 150 employees worldwide, makes products that allow users to watch and record live TV on personal computers, and to stream live TV to iPhones, iPods and Android smartphones. Sales of Hauppauge's TV video recorders, which can also record gaming on Xbox and PS3 consoles, increased to $17.69 million this year, from $8.26 million last year. But that was more than offset by a fall in sales of TV tuners to $23.2 million from $46.5 million last year, the company said in its annual report, filed Tuesday. It had a $5.89- million loss for the year ended Sept. 30, compared to a $1.84-million loss in 2010. -- Joseph Mallia

 

 

NATION

 

 

 

Google+social net gains steam

 

Google Inc. is adding 625,000 new users a day to the Google+ social-networking service, which may total 400 million members by the end of next year, according to independent analysis of its growth. The site's popularity has accelerated in recent weeks, with almost a quarter of its total user base joining in December alone, said Paul B. Allen, the founder of Ancestry.com Inc., who tracks the numbers as Google+'s "unofficial statistician." Google aims to challenge the social-networking supremacy of Facebook Inc., a site with 800 million members. -- Bloomberg News

Big Morgan job cuts looming

Of the 1,600 job cuts announced earlier this month by Morgan Stanley, 580 will be at its home base in New York. Morgan Stanley disclosed in a filing with the Labor Department Wednesday that the cuts will be made at four New York locations: 1221 Avenue of the Americas, 1 New York Plaza, 1585 Broadway and 750 Seventh Ave. The firm had more than 62,000 employees as of Sept. 30. -- AP

 

 

NY Times makes email gaffe

 

It's easy to send out an email by mistake -- even for a company that's in the business of communication. The New York Times thought it was sending an email to a few hundred people who had recently canceled subscriptions, offering them a 50 percent discount for 16 weeks to lure them back. Instead, Wednesday's offer went to 8.6 million email addresses of people who had given them to the Times. That was the first mistake. The second came when the Times tweeted this: "If you received an email today about canceling your NYT subscription, ignore it. It's not from us." But the Times did send the original email, Times spokeswoman Eileen Murphy said. Murphy said the newspaper stopped giving out discounts to people who received the email in error by early afternoon. -- AP

 

 

U2 rocks as top touring band

 

Perennially popular Irish rockers U2 were again the top touring band in the world in 2011, repeating their globe-topping haul from 2009, according to trade magazine Pollstar. The band brought in $231.9 million in 34 shows, narrowly beating out British boy band Take That, which took in $224 million after reuniting with its popular front man, Robbie Williams. -- AP

Comments

We're revamping our Comments section. Learn more and share your input.

More news