Business Highlights
Phone encryption a 'vicious guard dog' in crime probes
WASHINGTON (AP) — FBI Director James Comey likened Apple's built-in iPhone security to a "vicious guard dog" on Tuesday as the U.S. Congress heard arguments over who can unlock smartphones belonging to criminal suspects — a high-stakes conflict between privacy and national security that has divided federal courts.
The hearing provides an extraordinary public forum for the Justice Department and Apple Inc. to stake out competing positions in a policy debate that both sides believe could have sweeping ramifications.
Whitfield Diffie, a former chief security officer of Sun Microsystems, and Martin Hellman, a professor emeritus of electrical engineering at Stanford University, introduced the ideas of public-key cryptography and digital signatures back in 1976.
An Associated Press survey this month of economists found that a majority thinks the United States remains resilient enough to defy a global slump and the sinking stock markets.
NEW YORK (AP) — Stocks roared to their best day in more than a month Tuesday as investors hit the "buy" button following some encouraging signs of strength in the U.S. economy.
WASHINGTON (AP) — Factory activity in the United States and China — the world's top two economies — slowed in February, reflecting and contributing to worldwide economic weakness.
WASHINGTON (AP) — U.S. construction spending increased in January by the largest amount in eight months as weakness in homebuilding was offset by a solid rebound in nonresidential activity.
Economists are optimistic that construction will continue to show solid gains this year, helping to boost overall economic growth.
DETROIT (AP) — Automakers posted big U.S. sales gains last month as consumers — giddy from Super Bowl ads — returned to showrooms after a snowy January.
Industry analysts had expected February sales to bounce back after a slight decline in Ja