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Last Update on February 09, 2016 08:31 GMT

FEDERAL RESERVE-YELLEN

WASHINGTON (AP) -- Things looked so clear back when the Federal Reserve raised its benchmark interest rate from record lows, and it signaled the likelihood of four more hikes in 2016.

Panicky financial markets, global weakness and slumps in key U.S. economic sectors have since clouded the outlook.

So are there more hikes ahead? Chair Janet Yellen is expected to address Congress this week and outline the Fed's outlook. It's unclear how much she'll say about the likely timetable for rate increases.

STREAMING TV CRUNCH

NEW YORK (AP) -- The Golden Age of Online Television may be in peril.

Streaming TV has gotten popular through online services such as Netflix and Hulu. But some television companies are now balking at giving them timely access to shows and are considering holding back certain shows.

The big worry: Making streaming TV too pleasant might encourage viewers to cut back or drop their cable service. Cable and satellite companies now pay TV networks billions of dollars a year to carry their channels. In turn, TV production companies make a lot from licensing fees paid by the networks.

AIRPLANES-POLLUTION

WASHINGTON (AP) -- A U.N. panel says it is proposing greenhouse gas emissions standards for planes that fly internationally beginning in 2020 for new aircraft designs and three years later for designs already in production.

The International Civil Aviation Organization said the agreement reached by 170 international experts sets a cutoff date of 2028 for the manufacture of planes that don't comply with the standards.

Environmental groups quickly condemned the new standards, which they said were not stringent enough to meaningfully reduce pollution or slow climate change.

Aviation accounts for about 5 percent of global greenhouse emissions.

The action comes two months after U.N. climate negotiators in Paris left the aviation industry out of their landmark global agreement to combat global warming.

DRONES-MILESTONE

WASHINGTON (AP) -- The Federal Aviation Administration says there are now more registered drone operators in the U.S. than there are licensed pilots.

FAA Administrator Michael Huerta told a legal forum on Monday that the agency passed the milestone last week when it topped 325,000 registered drone owners. There are 320,000 licensed pilots of manned aircraft.

Huerta said the number of small unmanned aircraft is even larger because drone operators often own more than one drone.

FAA officials launched a drone registration program just before Christmas, saying it would help them track down operators who violate regulations and also help to create a culture of accountability.

Huerta said the speed with which registration has taken off is proof that government and industry can work together.

CHIPOTLE-LATE OPENING

NEW YORK (AP) -- Chipotle kept all its U.S. locations shuttered early Monday as executives went over new food safety procedures.

The presentation for workers comes after Chipotle has been slammed by a series of food scares. Co-CEO Monty Moran noted two of the four incidents were the result of norovirus, which is typically caused by sick workers. He urged workers to stay home if they feel ill.

Chipotle Mexican Grill Inc. postponed opening its restaurants for four hours to 3 p.m. local time Monday.

GAS PRICES-CALIFORNIA

SACRAMENTO, Calif. (AP) -- Gouging by oil companies could be one reason California drivers pay about 76 cents more for a gallon of regular gas than motorists elsewhere in the nation, a state government panel was told Monday.

Fuel experts and consumer advocates also told the Petroleum Market Advisory Committee in Sacramento that a high state gas tax and more rigorous regulations have kept prices relatively high as oil prices have plunged across the nation in recent months.

Drivers in California pay more partly because of stiffer fuel blend standards to meet the state's unique air-quality rules, speakers said at the hearing.

The panel, appointed by the California Energy Commission, is studying whether changes in state policies and laws could rein in the prices.

MAZDA RECALL

DETROIT (AP) -- Mazda is recalling some SUVs because the fuel filler pipe can rupture in a rear crash and cause a gas leak and possible fire.

The recall covers nearly 237,000 CX-5 SUVs from the 2014 and 2015 model years.

The problem was discovered in crash testing when the pipe ruptured and spilled fuel that exceeded limits set by crash test standards. Mazda says it has no reports of any fires or injuries.

Dealers will remove a bolt on the left side of the pipe, redirecting the rear crash impact to prevent pipe ruptures, according to documents filed by Canadian safety regulators.

HONDA-CIVIC RECALL

DETROIT (AP) -- Honda is recalling about 45,000 newly redesigned Civic compact cars in the U.S. and Canada because the engines can fail and stall while being driven.

The recall affects 2016 Civics equipped with 2-liter four-cylinder engines.

Documents filed by Canadian safety regulators say that a circular clip around the pistons may be missing or was improperly installed at the factory. That can cause a pin on the piston to rub against the engine block and possibly cause engine failure or a fire.

It was unclear if any crashes, fires or injuries had happened.

Dealers will inspect the piston clips and fix them if necessary. In the U.S., dealers can't sell the affected cars until they are repaired.

The recall covers about 34,000 Civics in the U.S. and roughly 11,000 in Canada.

GAP SALES

NEW YORK (AP) -- Gap Inc. reported slumping sales at all three brands for the crucial fourth-quarter, which covers the holiday season.

The company, which operates Gap, Old Navy and Banana Republic stores, said Monday that a key revenue measure, sales at established stores, fell 7 percent in the November-January period.

The figure fell 3 percent for the Gap brand, 14 percent for Banana Republic and 8 percent at Old Navy, which until a few months ago had been a bright spot.

Gap is slated to report full-year results on Feb. 25.

 
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