Business Tidbits

1 in 4 Consumers Had Error in a Credit Report From Major Agency

WASHINGTON (AP) – One in four consumers has had an error in a credit report issued by a major agency, according to a government study released Monday.

The Federal Trade Commission report also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products.

The study looked at reports for 1,001 consumers issued by the three major agencies — Equifax, Experian and TransUnion. The FTC hired researchers to help consumers identify potential errors. It closely matches the results of a yearlong investigation by The Columbus Dispatch. The Ohio newspaper’s report last year said thousands of consumers were denied loans because of errors on their credit reports.

The FTC says the findings underline the importance of consumers checking their credit reports.

Tug Boats to Reach Disabled Cruise Ship

HOUSTON (AP) – Passengers aboard a cruise vessel stranded in the Gulf of Mexico waited for two tugboats to arrive to tow them to Mexico by Wednesday, Carnival Cruise Lines said in a statement.

The Carnival Triumph has been floating aimlessly about 150 miles off the Yucatan Peninsula since a fire erupted in an engine room early Sunday, knocking out the ship’s propulsion system. No one was injured and the fire was extinguished. The ship has been operating on backup generator power since the incident, the statement said.

SBA Mills Leaving Obama Administration

WASHINGTON (AP) – Karen Mills is leaving her post as head of the Small Business Administration, opening yet another Cabinet-rank job for President Barack Obama to fill at the start of his second term.

Obama says Mills played a leading role supporting start-up businesses and entrepreneurs.

Boeing Wraps Up 787 Test Flights for Now

SEATTLE (AP)- Boeing conducted a second test flight of its 787 on Monday, as it looks for the cause of problems that have grounded the planes. It said no more tests are currently planned.

Flight-tracking service FlightAware showed that the plane flew from Boeing Field in Seattle, east over Washington State, and back.

Boeing won permission from the FAA last week to conduct test flights under special conditions, including that the planes fly over unpopulated areas.

Novo Nordisk Tumbles as Regulators Seek More Data On Potential Diabetes Drugs

Shares of Novo Nordisk tumbled Monday after the Danish drugmaker said U.S. regulators want to see a new study before they can finish their review of two diabetes treatments with a long-acting insulin.

The company said Sunday that the FDA requested information from a study that looks at cardiovascular health before it makes a decision on Tresiba and Ryzodeg, which both use the insulin degludec.

The company plans to provide the requested data, but probably will not be able to do so this year.

Greeks Snatch Urban Metal to Get Through Crisis

THESSALONIKI, Greece (AP) – When Greece adopted the euro, it poured billions into modernizing its infrastructure, building bridges, highways, and a brand new rail transit network.

Now, locked in recession and crushed by debt, Greeks are targeting many of those projects, gouging out the metal and selling it for scrap.

Police say they now arrest an average of four metal thieves every day, compared to a few cases every month before the crisis started in late 2009.

To Read The Full Story

Are you already a subscriber?
Click to log in!