Americans are buying record numbers of hybrid and electric cars as gas prices climb and new models arrive in showrooms, giving the vehicles their greatest share yet of the U.S. auto market.
Consumers bought a record 52,000 gas-electric hybrids and all-electric cars in March, up from 34,000 during the same month last year.
The two categories combined made up 3.64 percent of total U.S. sales, their highest monthly market share ever, according to Ward’s AutoInfoBank. The previous high was 3.56 percent in July 2009, during the Cash for Clunkers program.
And while their share of the market remains small, it’s a big leap from the start of the year, when hybrids and electrics made up 2.38 percent of new car sales.
Buyers were drawn by new models like the Toyota Prius C subcompact, the Prius V wagon and Camry hybrid. Gas prices near or above $4 per gallon added to the cars’ attraction.
Stronger sales of the Chevrolet Volt and the Nissan Leaf were a positive sign for electric car makers. The two have struggled to gain acceptance from buyers worried about how far they can drive on a battery charge.
Another concern: Volt maker General Motors Co. had to change the car’s charging system because its batteries caught fire after government crash tests.
GM sold just 7,671 Volts last year, below its goal of 10,000. But in March, it set a new monthly record of 2,289 for the Volt, an electric car with a small backup gas engine personal loan for poor credit. Sales of the all-electric Leaf nearly doubled to 579.
Gas prices helped sales. The nationwide average for a gallon of gas jumped 19 cents in March, from $3.73 to $3.92, and it crossed the $4 mark in California even earlier. The $4 mark was a significant psychological milestone, said Paul Lacy, who forecasts sales trends for consulting firm IHS Automotive.
Lacy expects hybrids and electrics to make up about 4 percent of U.S. sales this year, although sales could drop if gas prices fall or if buyers get more accustomed to higher prices.
Lacy predicts hybrids and electrics will double their market share to 8.5 percent by 2017, in part because there will be more options on the market. Last month, 35 hybrids and electrics were on sale, double the number from 2008.
The proliferation of models will also bring down costs. Hybrids cost around $2,000 to $4,000 more than their gas counterparts, which can make them less attractive. Edmunds.com estimates it takes 11 years’ worth of gas savings to recoup the $4,595 premium on the Honda Civic hybrid, or 5.2 years to make back the $3,400 premium on the Toyota Camry hybrid.
Toyota Motor Co.’s Prius hybrid cars were the runaway best-sellers last month. They made up 57 percent of all hybrids and electrics sold.
Iran is signaling a possible compromise offer heading into critical talks with world powers deeply suspicious of its nuclear program: offering to scale back uranium enrichment but not abandon the ability to make nuclear fuel.
The proposal _ floated by the country’s nuclear chief as part of the early parrying in various capitals before negotiations get under way Friday _ suggested that sanctions-battered Iran is ready to bargain. But this gambit, at least, appeared to fall short of Western demands that Iran hand over its most potent nuclear material.
Still, the public jockeying ahead of the talks pointed to an attempt to ease a standoff that has rattled nerves and spooked markets with seesaw oil prices and threats of Israeli military strikes. The talks involving Iran and the five permanent U.N. Security Council nations plus Germany, to be held in Istanbul, are the first direct negotiations on Tehran’s nuclear program since a swift collapse more than 14 months ago.
Despite far-reaching complexities, the dispute effectively boils down to one issue: Iran’s stated refusal to close down its uranium enrichment labs.
For Iran, uranium enrichment is a proud symbol of its scientific advances and technological self-sufficiency. Iran’s president, Mahmoud Ahmadinejad, called the nuclear program on Sunday “a locomotive” for other showcase projects such as Iran’s space effort.
The U.S. and its allies contend that the same sites that make fuel for reactors could also eventually churn out weapons-grade material. Iran has repeatedly insisted that its nuclear program is for peaceful purposes only.
The ideas put forth late Sunday by the nuclear chief, Fereidoun Abbasi, are an attempt to at least acknowledge this huge divide.
Abbasi said Tehran could eventually stop its production of the 20 percent enriched uranium needed for a research reactor, used for medical research and treatments. But, he added, Iran would continue enriching uranium to lower levels of about 3.5 percent for power generation.
The framework addresses one key Western concern. The U.S. and others worry the higher-enriched uranium could be turned into warhead strength _ more than 90 percent enriched _ in a matter of months.
Yet Abbasi also directly snubbed a demand backed by the U.S. and some other countries. They want Iran’s stockpile of 20 percent-enriched uranium to be transferred out of the country. Abbasi indicated that it would remain in Iran.
“Such a stockpile could enable Iran to make a bomb in the future, should it decide to do so,” said Meir Javedanfar, an Iranian-born political analyst now based in Israel.
“Unless an agreement is reached whereby this stockpile is transferred abroad for conversion into nuclear fuel or, at the very minimum, placed under international supervision in an another country, it will be very difficult for the (world powers) to accept Iran’s current offer,” he said.
Last week, U.S. Secretary of State Hillary Rodham Clinton said it was up to Iran to show that its claim of rejecting nuclear weapons is “not an abstract belief but it is a government policy.”
“And that government policy can be demonstrated in a number of ways, by ending the enrichment of highly enriched uranium to 20 percent, by shipping out such highly enriched uranium out of the country, by opening up to constant inspections and verifications,” she said at a conference in Istanbul to seek ways to aid opposition forces in Syria _ Iran’s main Arab ally.
Clinton will not be attending Friday’s conference on Iran. The State Department’s third-ranking diplomat, Under Secretary of State for Political Affairs Wendy Sherman, will lead the U payday loan companies.S. delegation.
Abbasi also insisted that Iran will never close down its new underground enrichment facilities south of Tehran, saying it would be “illogical” for the West to raise such a demand.
It’s unclear, however, whether Abbasi was conveying a real negotiating position or simply testing the waters.
The proposal came from an unconventional venue, airing just before midnight on a state-run TV channel for Iranians and other Farsi-speakers abroad. Iran has used its array of government-controlled media, such as its Arabic-language Al-Alam channel, to make regional and international policy statements.
Abbasi said production of uranium enriched up to 20 percent is not part of the nation’s long-term program _ beyond amounts needed for its research reactor in Tehran _ and insisted that Iran “doesn’t need” to enrich beyond the 20 percent levels.
“The job is being carried out based on need,” he said. “When the need is met, we will decrease production and it is even possible to completely reverse to only 3.5 percent” enrichment levels.
Meanwhile, Foreign Minister Ali Akbar Salehi was quoted on the Iranian parliament’s website Monday as saying he hopes for some progress in the talks. But he warned that Iran would not accept preconditions _ an apparent reference to last year’s impasse.
The U.S. and its allies have sought to press Iran to suspend uranium enrichment in exchange for receiving reactor-ready fuel from abroad. Iran has pushed back by refusing to curtail enrichment, which is permitted under the U.N. treaty overseeing the spread of nuclear technology.
“We will honestly try to have the two sides conclude with a win-win situation in which Iran achieves its rights while removing concerns of five-plus-one group,” Salehi said, using the name often used for the five permanent Security Council members and Germany. “But imposing any conditions before the talks would be meaningless.”
Abbasi’s remarks also could be a bid to tone down the rhetoric.
Last week, Iranian lawmaker Gholam Reza Mesbahi Moghadam claimed Tehran has the know-how and the capability to produce a nuclear weapon, but would never do so. Iran’s supreme leader, Ayatollah Ali Khamenei, also has said that Iran does not seek nuclear arms and described them as against the tenets of Islam.
“The Iranians themselves have said, at the level of the supreme leader, that they don’t have any weapons intention,” U.S. State Department spokeswoman Victoria Nuland said Monday. “Well, if that is in fact the case, then it ought be relatively straightforward for them to demonstrate that to the international community’s satisfaction, and that’s what we’re talking about when we see them.”
After a protracted flap over the venue for the talks, Iranian state TV reported Sunday that both sides had agreed on Istanbul. It said a second round would be held in Baghdad, and that its timing would be decided during the meeting in Turkey. This suggested that Iran views the process as a potential slow, step-by-step series of talks.
The venue still has to be formally confirmed by the European Union’s foreign affairs chief Catherine Ashton. But a diplomat familiar with the preparations for the talks confirmed to The Associated Press on Monday that Istanbul had been chosen for the first round.
The diplomat demanded anonymity because he was not authorized to disclose the information ahead of the formal announcement.
New Zealand authorities have filed charges against the owners of a cargo ship that ran aground on a reef here six months ago, creating what authorities describe as the country’s worst maritime environmental disaster.
Maritime New Zealand on Thursday charged Daina Shipping with discharging harmful substances from the vessel Rena. The charge carries a maximum fine of 600,000 New Zealand dollars ($489,000) plus another 10,000 New Zealand dollars ($8,100) for each day the offending continues.
The Rena ran aground Oct. 5 on the Astrolabe reef near Tauranga, spilling 400 tons of fuel oil.
Daina Shipping, incorporated in Liberia, is one of 80 subsidiaries of Greek shipping giant Costamare. Costamare reported 2011 profits of $88 million on revenues of $382 million.
Hamburg, Europe
Anonymous and other "hacktivist" groups rose to new prominence in the cybercrime universe last year, and a new report shows that they made some serious mischief.
Verizon’s (, Fortune 500) annual Data Breach Investigations Report, released Thursday, found that hacktivist groups were responsible for 58% of all data stolen last year. The telecom giant compiled data breach information from its customers and from law enforcement agencies in five countries.
The hacktivists’ success is partially due to the sharp rise in the number of attacks Anonymous and its peers launched last year. Verizon, which has been tracking hacktivist activity since 2004, said that last year’s collection of hacktivist breaches exceeded the total from all previous years combined.
That trend is "probably the biggest and single most important change" in this year’s report, said Bryan Sartin, head of Verizon’s data breach investigations team.
When online hacktivism first started in the 1990s, most of what the attackers accomplished were website defacements and denial of service attacks — annoyances more than serious problems.
How they hack you
But last year, Verizon began to notice what it calls a "major shift" in hacktivist activity. In addition to their usual methods, Anonymous and its cohorts were starting to launch data breach attempts against their targets, in what became a new "core tactic" for the groups.
"2011 saw a merger between those classic misdeeds and a new ‘oh by the way, we’re gonna steal all your data too’ twist," Verizon said in its report. "This re-imagined and re-invigorated specter of ‘hacktivism’ rose to haunt organizations around the world."
Here’s a startling twist: Verizon found that in many cases the denial of service attacks served as diversions. The hacktivists would often publicly announce a big attack, and the target would dedicate all of its resources to stopping that. While that was happening, hacktivists would go in unnoticed and steal some company data.
"It’s the old bait-and-switch," said Sartin. "That concept, as basic as it seems, is a level of ingenuity we’ve never seen before."
In all, hacktivist groups stole more than 100 million records last year, almost twice the amount of data captured by financially motivated cybercriminals payday loans with no fax.
Still, just 2% of all attacks could be attributed to Anonymous and its peers. The vast majority of online data thieves remain professional criminals looking to steal information that can lead to money.
The cost of cybercrime
So why did hacktivists manage to grab so much more data than the pros?
Those big-time cybercriminals — typically organized crime rings — are usually surgical in their attacks. They take a "rinse and repeat" approach, stealing small chunks of data on a massive scale.
Hacktivists, on the other hand, go after big organizations, since their goal is to get the public to notice them. Some prime targets of Anonymous and other hacktivists last year included News Corp. (), Sony (), PBS, the Federal Bureau of Investigation, Central Intelligence Agency, Department of Justice, and a multitude of security firms.
The "good" news is that most of what hacktivists stole was relatively benign data. Customer lists of names, usernames and e-mail addresses were the most commonly grabbed data. Hackers were rarely able to capture — or perhaps didn’t go after — more sensitive data like credit card information or passwords.
But it wasn’t all "protest and lulz," Verizon said. Sartin now thinks that hacktivists are a more significant threat than previously believed.
Fighting the cyber Mafia
"The numbers suggest clearly that people need to reevaluate how they view the capabilities of hacktivists," he said. "The tools, tactics and methods of advanced persistent threats and hacktivists are largely the same."
Traditional cybercriminals are also upping their game.
Cybercriminals last year went after end-user devices like ATMs, laptops and smartphones much more often than they did in previous years. Those devices accounted for 60% of all attacked targets, and Sartin said he wouldn’t be surprised if smartphones make up the majority in 2012.
In all, Verizon said it and its partners recorded 855 data breaches, encompassing 174 million compromised records. That represented the second-highest total since Verizon’s report was first issued in 2004.
Thailand kept its key interest rate unchanged, pausing after two reductions as it raised its forecast for economic growth this year and predicted inflation pressure may increase. Stocks and the baht rose.
The Bank of Thailand held its benchmark one-day bond repurchase rate at 3 percent, it said in Bangkok today, a decision predicted by 19 of 21 economists in a Bloomberg News survey. The other two forecast a 0.25 percentage-point cut.
Central banks from Australia to South Korea refrained from cutting rates this month as higher energy costs boosted inflation risks, reducing the scope for monetary stimulus to counter a Chinese slowdown and Europe
U.S. stocks rose slightly Monday in a ho-hum opening after their best week of the year.
The Dow Jones industrial average spent most of the morning in the red, then climbed to 13,247, up 15 points. The Standard & Poor’s 500 and Nasdaq composite fell in the early minutes of trading but then rose. The S&P 500 was up five points to 1,410, and the Nasdaq was up 18 to 3,074.
Last week, the Dow and S&P 500 rose 2.4 percent apiece, their best showing of the year. For the first time, the Dow closed above 13,000 and the Nasdaq above 3,000 on the same day.
In the absence of any major economic news, the markets latched on to announcements from a few well-known companies.
Apple rose about 2 percent to $595.88 after announcing that it would pay a shareholder dividend and buy back $10 billion of its stock over three years. The stock hit an all-time high of $600.01 last week.
The dividend is expected to expand the company’s shareholder reach because value-oriented mutual funds that focus on dividends will buy it. Apple’s stock has already risen from $405 this year, partly in anticipation of the dividend.
UPS rose 4 percent after announcing it would buy TNT Express, the second-largest express mail company in Europe, further cementing UPS’ status as the world’s largest delivery company.
Citigroup rose 4 percent after announcing it had sold its share in a Shanghai bank for $668 million. The move should help the bank establish its own businesses in China. The bank is slimming down to try to shake off the vestiges of the financial crisis.
Sprint Nextel fell 5 percent after a Sanford C. Bernstein analyst downgraded the stock to underperform and predicted that future incarnations of the iPhone will not work too well with the Sprint network. The analyst, Craig Moffett, also expressed concern about the company’s heavy debt burden.
There was little in the way of major economic indicators. The National Association of Home Builders index of builder confidence came in unchanged from the previous month.
“There’s not really a lot to say,” said Stephen Carl, head equity trader at Williams Capital Group. “I guess we could just toss a coin in the air and see which way it goes.”
Prices for U.S. Treasury debt slid for the ninth day in a row, and the yield on the 10-year Treasury note hit 2.32 percent, the highest since October. Investors feeling more confident in the economy are putting their money in riskier assets like stocks.
European markets were mixed. The main stock indexes fell less than 1 percent in France, Britain and Germany. Stocks rose 1.7 percent in Greece and 0.7 percent in Spain.
Though Greece’s debt crisis has faded from the spotlight, Greece remains in deep recession, and uncertainty lingers. Unions throughout Europe are protesting cuts in benefits, making it difficult for governments to rein in their spending.
Leadership questions are also bubbling up, with the Greek finance minister stepping down to run the majority Socialist party and France gearing up for presidential elections.
At a conference Sunday in Beijing, International Monetary Fund chief Christine Lagarde said that European leaders need to stay vigilant about debt.
“The world economy has stepped back from the brink, and we have causes to be a little bit more optimistic,” she said. “But optimism should not give us a sense of comfort and certainly should not lull us into a false sense of security.”
The price of oil continued to rise, climbing to $107.70, up 63 cents. The average price for a gallon of regular gasoline rose a penny over the weekend to $3.84 and is up 30 cents in a month, pushed higher by tension in Europe over Iran’s nuclear program..
Increased domestic sales helped Synergetics USA Inc. raise profits in the second quarter of fiscal 2012, which ended on January 31.
The O’Fallon, Mo.-based maker of equipment for eye and brain surgeries reported a net income of about $1.9 million, or 7 cents a share, compared to $1 cashadvance.3 million, or 5 cents a share, a year ago. Sales rose 14 percent to $15.1 million.
Efforts to find a diplomatic solution to Iran’s disputed nuclear program appeared to get a boost Tuesday when world powers agreed to a new round of talks with Tehran, and Iran gave permission for inspectors to visit a site suspected of secret atomic work.
The two developments appeared to counter somewhat the crisis atmosphere over Iran’s nuclear program, the focus of talks in Washington between President Barack Obama and Israel’s visiting prime minister.
EU foreign policy chief Catherine Ashton said the five permanent members of the U.N. Security Council and Germany agreed to a new round of nuclear talks with Iran more than a year after they ended in failure. Previous talks have not achieved what the powers want _ an end to uranium enrichment on Iranian soil.
The U.S. and its allies say Iran is on a path that could eventually lead to the production of a nuclear weapon. Iran denies that, insisting that its program is for energy production and other peaceful purposes.
Ashton said in a statement that the EU hopes Iran “will now enter into a sustained process of constructive dialogue which will deliver real progress in resolving the international community’s long-standing concerns on its nuclear program.”
The time and venue of the new talks have not been set.
In Washington, National Security Council spokesman Tommy Vietor said Iran must comply with U.N. Security Council resolutions and stop uranium enrichment. “We still believe diplomacy coupled with strong pressure can achieve the long-term solution we seek,” he said in a statement.
Britain’s foreign secretary, William Hague, said in a statement that the onus would “be on Iran to convince the international community that its nuclear program is exclusively peaceful.”
German Foreign Minister Guido Westerwelle called for a diplomatic solution. “A nuclear-armed Iran must be prevented,” he said.
Ashton was responding to a February letter from Iranian nuclear negotiator Saeed Jalili, in which he proposed new discussions.
This week Obama warned the U.S. would use military action to protect its interests if necessary, while appealing for time for sanctions against Iran to show their affects. In his public statements during a visit to Washington, Israeli Prime Minister Benjamin Netanyahu thanked Obama for his support but did little to counter concerns that Israel might go ahead on its own with an attack on Iran. Israel considers Iran an existential threat because of its nuclear program and its references to destruction of the Jewish state low fee payday advance.
The U.N.’s International Atomic Energy Agency last year published a report that included what it said was evidence of Iranian activity that could be linked to weapons development. The head of the IAEA, Yukiya Amano, said Monday that his organization has “serious concerns” that Iran may be hiding secret atomic weapons work, singling out the Parchin military complex southeast of Tehran.
On Tuesday, Iran appeared to respond partially to those concerns, granting long-sought permission to IAEA inspectors to visit the Parchin compound. Iran describes the site as a military base, not a nuclear facility.
The semi-official ISNA news agency stated a key condition: such a visit would require an agreement between the two sides on guidelines.
“Given that Parchin is a military site, access to this facility is a time-consuming process, and it can’t be visited repeatedly,” ISNA quoted the Iranian statement as saying. It added that following repeated IAEA demands, “permission will be granted for access once more.”
Inspecting Parchin was a key request by senior IAEA teams that visited Tehran in January and February. Iran rebuffed those demands at the time, as well as attempts by the nuclear agency’s team to question Iranian officials and secure other information linked to the allegations of secret weapons work.
The Parchin complex has been often mentioned in the West as a suspected base for secret nuclear experiments _ a claim Iran consistently denies. IAEA inspectors visited the site in 2005, but only one of four areas on the grounds, reporting no unusual activities.
Last year, IAEA’s report said there were indications Tehran has conducted high-explosives testing to set off a nuclear charge at Parchin. Iran denied the atomic activity and insisted that any decision to open the site rests with the armed forces.
“We have our credible information that indicates that Iran engaged in activities relevant to the development of nuclear explosive devices,” Amano said told reporters Monday outside a 35-nation IAEA board meeting in Vienna, describing his sources as “old information and new information.”
Tehran has dismissed the charge, saying it was based on “fabricated documents” provided by a “few arrogant countries,” a phrase Iranian authorities often use to refer to the U.S. and its allies.
Japan
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