NEW YORK (AP) — Devon Lawrence neatly stacked bricks on the gas burner of his kitchen stove and turned up the blue flame, creating a sort of radiator that warmed the ice-cold room.
His two-story house in the Far Rockaway section of Queens hasn’t had working heat since Superstorm Sandy’s floodwaters destroyed the oil burner in the basement. Now mold is growing upstairs because the house has been cold and damp for so long.
Lawrence wakes early every morning to heat the bricks and light a kerosene space heater while his 75-year-old mother sits in bed in a hat and gloves.
Pfizer 4Q net jumps on sale of nutrition business
Drugmaker Pfizer Inc.’s fourth-quarter results easily beat Wall Street expectations, driving up its stock, as profit more than quadrupled, due to tighter spending and a $4.8 billion gain from selling its nutrition business.
Those boosts offset competition from generic drugs hurting sales of Lipitor and other medicines.
The world’s biggest drugmaker said Tuesday that its net income was $6.32 billion, or 85 cents per share, up from $1.44 billion, or 19 cents per share, a year earlier.
Judge OKs $4 billion BP oil spill criminal settlement
NEW ORLEANS (AP) — BP PLC closed the book on the Justice Department’s criminal probe of its role in the Deepwater Horizon disaster and Gulf oil spill on Tuesday, when a federal judge agreed to let the London-based oil giant plead guilty to manslaughter charges for the deaths of 11 rig workers and pay a record $4 billion in penalties.
What the plea deal doesn’t resolve, though, is the federal government’s civil claims against BP. The company could pay billions more for environmental damage from its 2010 spill.
The judge noted that the company already has racked up more than $24 billion in spill-related expenses and has estimated it will pay a total of $42 billion to fully resolve its liability for the disaster in the Gulf of Mexico.
Microsoft retools Office for touch screen, Web use
SAN FRANCISCO (AP) — Microsoft is selling a retooled version of its Office software to consumers as an online subscription service for the first time in an attempt to extend one of the company’s key franchises beyond personal computers.
Tuesday’s release comes six months after Microsoft previewed the new-look Office, which includes popular word processing, spreadsheets and email programs.
The revamped Office boasts touchscreen controls, just like the redesigned version of the Windows operating system that Microsoft Corp. released three months ago. The company, which is based in Redmond, Wash., is trying to ensure that its products retain their appeal at a time when people increasingly rely on smartphones and tablet computers instead of PCs.
By The Associated Press(equals)
The Dow Jones industrial average rose 72.49 points to close at 13,954.42. The Standard and Poor’s 500 rose 7.66 points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.
Benchmark oil for March delivery rose $1.13, or 1.2 percent, to close at $97.57 on the New York Mercantile Exchange. Brent crude, used to price international varieties of oil, rose 88 cents to end at $114.36 a barrel on the ICE Futures exchange in London.
Wholesale gasoline rose 4 cents to finish at $2.97 per gallon. Natural gas lost 6 cents to end at $3.23 per 1,000 cubic feet. Heating oil gained 5 cents to finish at $3.11 a gallon.