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Business briefs

Citigroup in talks to repay

$45B bailout to Treasury

Citigroup Inc. is in a position to repay TARP, bank chairman Dick Parsons told cable television network CNBC Wednesday. Parsons told CNBC Citigroup was in talks with regulators about repaying its $45-billion bailout from the U.S. Treasury's Troubled Asset Relief Program. "There is an active discussion we have to have with regulators," Parsons said. Citi spokesman Jon Diat declined to comment. Reuters reported Monday that Citigroup and the U.S. government were disagreeing over how much the bank should raise to repay taxpayers, according to people briefed on the matter, who said talks could take weeks.

EBay exec says confidential

Craigslist data used

Employees of Internet auction site eBay shared confidential information gained from Craigslist with other employees developing eBay's own online classified ads business, an eBay executive and lawyer said Wednesday. Brian Levey, testifying in a trial over eBay's claims that Craigslist unfairly devalued eBay's 28 percent stake in the company, said information eBay gained as an investor in and board member of Craigslist was forwarded to eBay employees developing eBay's Kijiji domestic classified ads business. Craigslist contends in its own lawsuit that eBay used its stake in Craigslist to gain information for its own use.

AT&T to iPhone users:

Cut video watching

IPhone users who jam the airwaves by watching video on their devices will be put on tighter leashes, an AT&T Inc. executive said Wednesday. The carrier has had trouble keeping up with wireless data usage, leading to dropped connections and waits for users trying to run programs on their devices. AT&T is upgrading its network to cope, but its head of consumer services, Ralph de la Vega, told investors at a UBS conference in New York that it will also give high-bandwidth users incentives to "reduce or modify their usage."

Investors shrug off

debt worries, stocks rise

Stocks turned higher late Wednesday after trading erratically, and the Dow Jones industrials closed up 51 points. Investors have been cautious about government debt levels in Spain, Greece and other countries. The Dow rose 51.08, or 0.5 percent, to 10,337.05. The Standard & Poor's 500 index rose 4.01, or 0.4 percent, to 1,095.95. The Nasdaq composite index rose 10.74, or 0.5 percent, to 2,183.73.

Riverhead to pay tribute

to business leaders

The Riverhead Chamber of Commerce has named the recipients of its annual "Oscars of the Riverhead Business Community." The winners will receive their commendations Jan. 21 at the chamber's annual awards party. Honorees include: Persons of the Year: Edward Romaine, Suffolk County legislator; and Christine Kempner, Riverhead Town community development director. Business of the Year: Peconic Bay Medical Center. Director of the Year: Linda Dieterich, attorney. Gold Key Award: Bob Lanieri, director of Food Services, Atlantis Marine World. Agricultural Achievement award: Lyle Wells, owner of Wells Homestead Acres. Lifetime Community Volunteer award: Judy Young, volunteer at Peconic Bay Medical Center. Chamber Partners of the Year: Calverton Links, Great Rock Golf Club, Long Island National Golf Club. Tickets to the awards party are $50 per person; call 631-727-7600.- Joseph Mallia

Staff and wire reports

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