Wells Fargo Web problems attributed to cyberattack, and other business news

2013-04-05T00:00:00Z Wells Fargo Web problems attributed to cyberattack, and other business newsFrom Wire Reports From Wire Reports Arizona Daily Star
April 05, 2013 12:00 am  • 

CONSUMER TECH

Wells Fargo Web problems attributed to cyberattack

Wells Fargo reported website problems Thursday, attributing them to a cyberattack that created a " traffic jam."

Wells, on Facebook, told customers to keep trying to log on to its website "as the disruption is usually intermittent."

The assault came just a week after the bank reported March 26 that its website was running slowly as a result of abnormally high traffic, which the bank also suspected was part of a cyberattack.

Facebook unveils 'Home' for Androids

With its new "Home" on Android gadgets, Facebook aims to put its social network right on the mobile home screen, rather than requiring users to check apps.

If users choose to download Facebook's Home software beginning April 12, the social network will become the hub of their Android smartphones. An HTC phone that comes preloaded with Home will also be available starting that day, with carrier AT&T.

Best Buy will feature Samsung-product kiosks

Best Buy announced plans to create store-within-store kiosks for Samsung products - a vote of confidence from a major consumer electronics retailer that the brick-and-mortar format is still an important way to sell products.

Best Buy shares rose more than 16 percent. The Minneapolis-based company has battled the "showrooming" effect as more people browse in stores and then buy items cheaper online.

NATION

Export goal elusive; jobless claims increase

WASHINGTON - In economic reports released Thursday:

• Suddenly, outsourcing is on the way out and insourcing on the way in as the U.S. trudges unevenly toward President Obama's goal of doubling exports around the world by the start of 2015.

So far, export levels are about halfway to his mark, which Obama set in his January 2010 State of the Union address.

• Mortgage buyer Freddie Mac said the average rate for the 30-year fixed mortgage loan edged down to 3.54 percent from 3.57 percent last week. That's near November's 3.31 percent, which was the lowest in records dating to 1971.

• Weekly applications for unemployment aid increased this week to a seasonally adjusted 385,000, up by 28,000, the Labor Department said. That's the highest level since November. The gain pushed the four-week average, a less volatile measure, to 354,250. A Labor Department spokesman says the figures may have been affected by the Easter holiday.

Deal could cut sentence for former Enron CEO

HOUSTON - A possible agreement that could reduce the prison sentence of former Enron Corp. CEO Jeffrey Skilling for his role in the collapse of the once mighty energy giant is being discussed, the Justice Department says.

The possibility of a sentencing agreement in the case was made public this week in a notice to victims of Enron's collapse. The notice did not specify how Skilling's sentence could be impacted. He has been in prison since 2006.

WORLD

Japan revamps policy to boost economy

TOKYO - Japan is taking aggressive action to lift consumer prices, encourage borrowing and help pull the world's third-largest economy out of a long slump.

Like the U.S. Federal Reserve, Japan's central bank plans to flood its financial system with more money - its most far-reaching step to date to get consumers and companies to borrow and spend.

The Bank of Japan's action will also drive down the value of the yen. A cheaper currency will make Japanese goods - from Toyota cars to Sony TVs - less costly overseas. And it will make U.S. and other exports more expensive in Japan.

Associated Press; McClatchy Newspapers

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