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Thursday Afternoon Business Brief

May 8, 2014, 2:28 PM

Thursday Afternoon Business Brief

NEW YORK (AP) - The major stock indexes are mostly in positive territory in afternoon trading on Wall Street, though they're retreating from their highs of the day. Traders are considering a fresh batch of corporate earnings reports and a decrease in unemployment claims. Some of the big losers in a recent sell-off in Internet names are bouncing back today, including LinkedIn and Twitter.

  • Snapchat has agreed to settle with the Federal Trade Commission over charges that it deceived customers about the disappearing nature of messages sent through its service. The popular mobile messaging app lets people send photos, videos and messages that disappear in a few seconds. But the FTC says Snapchat misled users about its data collection methods and failed to tell users that others could save their messages without their knowledge.
     
  • Eight senators are calling on the Food and Drug Administration to examine new research suggesting that some electronic cigarettes can produce dangerous carcinogens similar to those from traditional cigarettes. The lawmakers want regulators to protect e- cigarette users and people nearby from cancer-causing vapors apparently produced by high-powered nicotine devices. Two studies first reported by the New York Times suggest the devices known as tank systems get hot enough to produce toxic chemicals like formaldehyde.
     
  • Airlines are asking Congress to roll back a federal rule making them tell passengers up-front the full cost of airfare, including government taxes and fees. A bill in Congress would let airlines to return to their old way of doing things, which is to emphasize in ads the base airfare and reveal the full price separately. Airlines say they should be able to able to advertise their fares the same way hotels, car rental agencies and other businesses do.
     
  • Dish says it plans to launch its Internet-delivered TV service by year's end on mobile devices, game consoles and smart TVs for about $20 to $30 a month. It will contain live sports, entertainment and children's programming. That's a lot less than the typical pay TV package that Dish Network sells to its 14 million satellite TV subscribers, but it will have far fewer channels.  Dish Chairman Charlie Ergen says the aim is to make a TV product appeal to young adults who love sports and have kids but won't pay $100 a month for TV.

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