BofA online and phone service disrupted

Bank of America Corp. scrambled to restore service late Friday to its enormous customer base — 40 million households — which spent most of the day without access to online, mobile and telephone banking services.

As one prominent consultant called the outage "inexcusable," the bank declined to comment on the causes of the shutdown. A spokesman referred reporters to a bank tweet late Friday saying it was "still working on our technical issue."

It remained unclear whether the bank had fallen victim to another of the hacker attacks that have targeted electronic channels at big banks sporadically since September. The shutdown came as Chief Executive Brian Moynihan has been overhauling operations to better cater to customers' needs.

Mark Pepitone, a spokesman for Bank of America's technology operations, said late Friday that "the situation is improving considerably" for the online, mobile and call-in operations.

"Some customers are now able to access those channels," he said. "They're getting through."

The bank's ATMs were functioning normally, he said.

BofA has invested $500 million in mobile and online banking since 2008, a period in which branch transactions have dropped 35%. Moynihan says Internet banking is more convenient for customers as well as cheaper to operate.

Bank of America was closing in on 12 million mobile customers at the end of 2012, Moynihan boasted to a financial services conference in December. "We average about 8,000 to 10,000 users a day," he said. "By the time I get done talking, 300 more people will have signed up."

Given that strategy, not having backup systems in place for electronic banking and call centers "is absolutely inexcusable," said economist and bank consultant G. Michael Moebs in Lake Bluff, Ill.

"Moynihan is too good for this. He's from the trenches," Moebs said. "Somebody's head is going to roll for this one."

The outage follows cyber attacks by a shadowy hacker group in the Middle East in September that disrupted the electronic operations at the nation's largest banks: BofA, Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc., U.S. Bancorp and PNC Financial Services.

Those were simple denial-of-service attacks, in which a website is deluged by automated requests for service until it breaks down. But at least one other recent case involved hackers breaching bank security systems and making off with customers' funds.

Federal prosecutors last month charged a Russian, a Latvian and a Romanian with creating a computer virus that infected more than 40,000 U.S. computers in an effort to steal customers' bank-account data and other information.

The so-called Gozi virus led to the theft of unspecified millions of dollars, said U.S. Atty. Preet Bharara in Manhattan.

Customers who tried to sign on to BofA online and mobile services on Friday were greeted with a text message advising them to go to ATMs or branches.

"Our site is temporarily unavailable," it said. "We know your banking is important and appreciate your patience."

Calls to BofA's telephone banking service went unanswered as well.

At sitedown.co, an online tracker of outages at business websites, scores of customers were reporting problems. Some took potshots at the Charlotte, N.C.-based bank.

"Epic, all-points BofA outage," said one.

"Enhancing our experience?" asked another.

"I better not get charged a late fee on my mortgage," griped a third.

scott.reckard@latimes.com

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Hackers target Twitter, access about 250,000 user accounts

SAN FRANCISCO (Reuters) – Anonymous hackers have targeted Twitter this week and gained access to roughly 250,000 user accounts though only “limited information” such as email addresses was compromised, the microblog said on Friday.

Twitter has already reset passwords for affected users, and will notify them soon, it said in a blog post. The cyberattacks come days after the New York Times and the Wall Street Journal revealed they had been the target of a well-coordinated hacking effort.

“This attack was not the work of amateurs, and we do not believe it was an isolated incident,” Twitter said. “The attackers were extremely sophisticated, and we believe other companies and organizations have also been recently similarly attacked.”

(Reporting by Alexei Oreskovic; Editing by Gary Hill)

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Washington, Cheadle win early NAACP Image Awards

LOS ANGELES (AP) — Kerry Washington was a triple threat at the NAACP Image Awards.

The star of ABC's "Scandal" picked up a trio of trophies at the 44th annual ceremony: outstanding actress in a drama series for "Scandal," supporting actress in a motion picture for "Django Unchained" and the President's Award, which is given in recognition of special achievement and exceptional public service.

"This award does not belong to me," said Washington, who plays a slave separated from her husband in "Django Unchained," as she picked up her first trophy of the night for her role in the film. "It belongs to our ancestors. We shot this film on a slave plantation, and they were with us along every step of the way."

Denzel Washington was honored as outstanding actor in a motion picture for "Flight," while Viola Davis won as outstanding actress in a motion picture for "Won't Back Down."

Don Cheadle was awarded the outstanding actor in a comedy series trophy for his role as a slick management consultant in Showtime's "House of Lies."

"This doesn't belong just to me, but I am taking it home tonight," he joked.

Other early winners at the ceremony hosted by talk show host Steve Harvey included Lance Gross as outstanding supporting actor in a comedy series for "Tyler Perry's House of Payne" and Loretta Devine as supporting actress in a drama series for "Grey's Anatomy."

The Image Awards are presented annually by the National Association for the Advancement of Colored People, and the group's members select the winners.

___

Follow AP Entertainment Writer Derrik J. Lang at http://www.twitter.com/derrikjlang .

___

Online:

http://www.naacpimageawards.net

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Birth Control Rule Altered to Allay Religious Objections

WASHINGTON — The Obama administration on Friday proposed yet another compromise to address strenuous objections from religious organizations about a policy requiring health insurance plans to provide free contraceptives, but the change did not end the political furor or legal fight over the issue.

The proposal could expand the number of groups that do not need to pay directly for birth control coverage, encompassing not only churches and other religious organizations, but also some religiously affiliated hospitals, universities and social service agencies. Health insurance companies would pay for the coverage.

The latest proposed change is the third in the last 15 months, all announced on Fridays, as President Obama has struggled to balance women’s rights, health care and religious liberty. Legal experts said the fight could end up in the Supreme Court.

Kathleen Sebelius, the secretary of health and human services, said the proposal would guarantee free coverage of birth control “while respecting religious concerns.”

But Kyle Duncan, the general counsel of the Becket Fund for Religious Liberty in Washington, which is representing employers in eight lawsuits, said the litigation would continue. “Today’s proposed rule does nothing to protect the religious freedom of millions of Americans,” Mr. Duncan said.

Religious groups dissatisfied with the new proposal want a broader, more explicit exemption for religious organizations and protection for secular businesses owned by people with religious objections to contraceptive coverage.

The tortured history of the rule has played out in several chapters. The Obama administration first issued standards requiring insurers to cover contraceptives for women in August 2011, less than a month after receiving recommendations to that effect from the National Academy of Sciences. In January 2012, the administration rejected a broad exemption sought by the Roman Catholic Church for insurance provided by Catholic hospitals, colleges and charities. After a firestorm of criticism from Catholic bishops and Republican lawmakers, the administration offered a possible compromise that February. But it left many questions unanswered and did not say how coverage would be provided for self-insured religious organizations.

Under the new proposal, churches and nonprofit religious organizations that object to providing birth control coverage on religious grounds would not have to pay for it.

Female employees could get free contraceptive coverage through a separate plan that would be provided by a health insurer. Institutions objecting to the coverage would not pay for the contraceptives.

Chiquita Brooks-LaSure, who helped develop the proposal as deputy director of the federal office that regulates health insurance, said: “Under the proposed rule, insurance companies — not churches or other religious organizations — will cover contraceptive services. No nonprofit religious institution will be forced to pay for or provide contraceptive coverage, and churches and houses of worship are specifically exempt.”

Moreover, she said, “Nonprofit religious organizations like universities, hospitals or charities with religious objections won’t have to arrange, contract or pay for coverage of these services for their employees or students.”

But some of the lawsuits objecting to the plan have been filed by businesses owned by people who say they have religious reasons for not wanting to provide contraceptive coverage. Under the proposed rule, “for-profit secular employers” would have to provide birth control coverage to employees, even if the business owners had a religious objection to the idea.

Insurers said they were studying the proposal, but had questions about how it would work. Many insurers asked where they would get the money to pay for birth control pills if — as the proposed rule says — they cannot “impose any premium, fee or other charge” for the coverage. The 2010 health care law generally requires employers to provide women with coverage at no cost for “preventive care and screenings,” which the administration says must include contraceptives for women under most health plans.

The administration says employers must cover sterilization and the full range of contraceptive methods approved by the Food and Drug Administration, including emergency contraceptive pills, like those known as ella and Plan B One-Step. Employers that do not provide such coverage will be subject to financial penalties.

The proposed rule is somewhat ambiguous about exactly who would pay the cost of contraceptive coverage.

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Dow Jones index closes above 14,000

Americans are doing something they haven't done in years — they're buying stocks.

Individual investors are pouring money into the stock market this year. They've been drawn by the powerful rally in share prices and are desperate for better returns than the minuscule yields available from bonds and bank accounts.

This renewed enthusiasm helped the Dow Jones industrial average achieve a milestone Friday, surging above 14,000 points for the first time since the financial crisis struck.

The world's best-known stock index has more than doubled from its crisis-era low and is nearing an even more impressive mark — a new all-time high. After closing at 14,009.79 points on Friday, the Dow is less than 155 points from its October 2007 peak.

"We've come a long way," said Seth Masters, chief investment officer at Bernstein Wealth Management Group in New York. "There was a great financial crisis five years ago and there was a lot of repair that had to happen in the corporate world and for consumers."

The surge in the Dow is part of a broader rebound in stock markets around the world, many of which are up 6% or more this year.

The rally is a measure of the recovery from the debilitating financial crisis that lashed the economy. And the improved optimism among investors stands in sharp contrast to the anxiety that pervaded financial centers and world capitals during the crisis.

Investors at the time feared a cataclysmic meltdown after the historic collapse of Lehman Bros. and the seizing up of capital markets throughout the world. The Federal Reserve took a series of emergency measures, including dramatically lowering interest rates and introducing unprecedented stimulus programs to revive growth.

Now investors are hoping that the gruelingly slow convalescence in the U.S. economy and job market will quicken as the year progresses.

"Investors are perceiving that the economy is doing better — that the worst days are behind us," said Paul Zemsky, chief investment officer of multi-asset strategies at ING Investment Management in New York.

On Friday, the Labor Department reported that the U.S. economy added 157,000 jobs in January. The report pushed stocks higher, sending the Dow up nearly 150 points.

That was fewer jobs than economists predicted, but the report also showed that employment growth was faster than thought in 2012, with 127,000 more jobs added in November and December than the government's previous estimates.

Small investors' renewed interest in stocks has been driven by their search for an alternative to the maddeningly low interest rates on fixed-income investments.

Joe Mills had long invested in stock mutual funds in his 401(k) retirement account. But he was earning next to nothing in a money-market mutual fund, so he bought his very first stock in August 2011.

He now has stakes in four companies, including Apple Inc. and Procter & Gamble.

"I feel like the risk of having zero return [in bonds] over the next 20 years is greater than the risk of selecting some stocks," said Mills, a 44-year-old structural engineer from Beckley, W.Va.

The rush into stocks is a mixed blessing, experts say.

Stocks have offered the best returns historically, and aging baby boomers deeply behind in retirement savings need all the help they can get.

But their renewed interest underscores how many people missed the rally for fear of getting scorched by another bear market.

"People by and large over the last five or six years have been deeply seared by the experience of 2008 and the ups and downs in stocks since then," said Masters of Bernstein Wealth Management. "There has actually been a bull market since March 2009, but they really don't feel at all like they've been in a bull market."

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Hagel hearing reopens Senate wounds

WASHINGTON — Chuck Hagel, who was twice wounded as an enlisted soldier in Vietnam, came under withering attack Thursday as he battled former Republican colleagues in the Senate who sharply questioned whether he should be secretary of Defense.

In a daylong confirmation hearing notable for its raw emotion, Hagel was challenged to explain — and often to retract — earlier comments critical of Israel, his onetime skepticism of the nuclear threat from Iran, and perhaps most memorably, whether he could name a single "dumb" action the Senate had taken under pressure from the pro-Israel lobby.

Hagel, who appeared beleaguered at times, said he could not.

The spectacle often seemed more about Republicans publicly settling scores with the 66-year-old Nebraskan, who spent two terms in the Senate and retired in 2009. He grew increasingly estranged from his GOP colleagues after he began to criticize the war in Iraq, expressed doubts about use of force against Iran and lent support to Barack Obama in the 2008 presidential election.

Hagel sometimes stumbled answering the rapid-fire questions, at one point misstating — later correcting himself — the White House policy on preventing Iran from obtaining nuclear weapons.

He still appears likely to win confirmation by the full Senate, which has a Democratic majority.

If confirmed, Hagel would be the first Vietnam combat veteran to lead the Pentagon. The former Army sergeant, who spent 1967-68 fighting in the Mekong Delta, would inherit a Defense Department facing potentially drastic budget cuts, the withdrawal of U.S. troops from the war in Afghanistan, a growing debate over targeted killings by drone aircraft, an emerging conflict with insurgent groups in North Africa, the integration of women into direct ground combat roles, and other tasks.

But on Thursday, the battle over his nomination reopened contentious national security debates from years past. At times the session seemed more an inquisition than a typical confirmation hearing.

In the most striking example, Sen. John McCain, the Arizona Republican who lost to Obama in 2008, ripped into Hagel for his critique of the Iraq war, displaying how the bond forged between the former colleagues by their military service in Vietnam had been torn apart by another war.

"The question is, were you right or were you wrong?" McCain demanded, pressing Hagel on why he opposed President George W. Bush's decision to send 20,000 additional troops to Iraq in the so-called surge.

"I'm not going to give you a yes-or-no answer. I think its far more complicated than that," Hagel responded calmly. He said he would await the "judgment of history."

Glaring at Hagel, McCain ended the exchange with a bitter rejoinder: "I think history has already made a judgment about the surge, sir, and you are on the wrong side of it."

Hagel faced tough questioning even from Democrats on the Senate Armed Services Committee who have announced they intend to vote for him.

Sen. Carl Levin (D-Mich.), the committee chairman, took issue with what he called Hagel's "troubling" statements about Israel, his calls for direct talks with the militant group Hamas and his advocating against isolating Iran.

"While there is value in communicating with our adversaries, the formulation used by Sen. Hagel seemed to imply a willingness to talk to Iran on some issues that

I believe most would view

as nonnegotiable," Levin said.

When the hearing began, Hagel said he stood by his record in public service even as he urged lawmakers to look beyond his now-controversial votes and statements. He noted that he had cast thousands of votes during his Senate career and given hundreds of interviews and speeches.

"As you all know, I am on the record on many issues," he said. "But no one individual vote, no one individual quote, no one individual statement defines me, my beliefs, or my record."

Since his nomination last month, Hagel has clarified or apologized for several controversial statements. He also sought to rebut critics who warned he may not push hard enough to prevent Iran from obtaining nuclear weapons.

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Online bingo shows its worth at Rank

LONDON (Reuters) – It may lack the noisy camaraderie of a trip to the bingo hall, but the online version of the numbers game has proved more profitable for Britain‘s Rank Group than the original.

The merits of the online business were further emphasized when Rank said a snowy January had cost it 3 million pounds ($ 4.7 million) in revenue as Britons opted not to venture out to its bingo halls and casinos.

Operating profit from online bingo was 11.4 million pounds, just beating the 11.1 million earned from the venues themselves.

The company, majority owned by Malaysia’s Guoco, reported a 4 percent decline in pretax profit to 31.3 million pounds in the six months to December, with its loss-making Blue Square betting business proving a drag.

Many parts of Britain have seen heavy snow over the last two weeks and there are fears that the bad weather will hit economic activity and push the country back into recession.

Pub groups Enterprise Inns and Mitchell & Butlers both said the recent cold snap had hit sales.

“Allowing for the slow start to the second half we remain confident in our prospects for the remainder of the year and in our longer-term growth strategy,” Rank Chief Executive Ian Burke said.

Rank’s main activities are in Britain where it runs 35 Grosvenor Casinos and more than 100 Mecca bingo clubs.

Profits growth in its online bingo business mirrors that in the gambling industry as a whole where online betting is the fastest growing part of the market, helped by the popularity of smart phones and tablets.

However, Rank has said it is reviewing the future of its own struggling online betting business Blue Square, a relative minnow in a crowded sector.

“We felt the losses were not losses we could continue to sustain,” said Burke.

Blue Square reported an operating loss of 4.8 million pounds in the six months and Rank has now cut its spending on marketing the business.

“There were 11 or 12 competitors advertising and that spending just wasn’t cutting through,” said Burke.

He declined to comment further on the future of the business pending completion of the review.

Rank is awaiting regulatory clearance for a planned 205 million pound deal to buy the casino business of Gala Coral.

A preliminary report by the Competition Commission said Rank could have to sell six casinos to get the deal approved.

($ 1 = 0.6332 British pounds)

(Editing by Louise Ireland and Brenda Goh)

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Appeals judges: Anti-paparazzi law appears legal

LOS ANGELES (AP) — An appeals panel says California's anti-paparazzi statute appears to be constitutional based on a brief filed by prosecutors.

A preliminary statement by three judges in Los Angeles requires a judge who dismissed charges aimed at a paparazzo who authorities say was driving recklessly to review his order. The judge may stick to his ruling, which would trigger a full appeal, or he could schedule further arguments on the case against freelance photographer Paul Raef.

Raef was the first person charged under the new law after a high-speed chase involving Justin Bieber last year.

Superior Court Judge Thomas Rubinson dismissed two charges in November, ruling the law is too broad and is unconstitutional.

Raef's attorney David S. Kestenbaum says he is asking Rubinson to stand by his ruling and allow a full appeal.

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Hip Implant’s Risks Inadequately Assessed, DePuy Report Found in 2010

A review conducted internally by Johnson & Johnson soon after it recalled a troubled hip implant found that the company had not adequately assessed the device’s potential risks before it was used in more than 90,000 patients, court testimony on Thursday showed.

The engineering report, which was done in 2010, also found that Johnson & Johnson’s orthopedic unit had used inadequate or incorrect standards in trying to assess some of those risks before first selling the implant in 2003. The device at issue — the Articular Surface Replacement, or A.S.R. — proved to be among the most flawed orthopedic devices sold in recent decades.

The report was introduced on Thursday in Los Angeles Superior Court, in the first A.S.R.-related lawsuit to go to trial against the DePuy Orthopaedics division of Johnson & Johnson. More than 10,000 similar lawsuits have been filed in the United States.

In videotaped testimony shown in court, Jimmy Smith, a compliance manager at DePuy, was asked about the report, and he said it indicated that company officials had not used appropriate engineering controls to try to anticipate the device’s problems.

“They did their job, but they could have done it better,” Mr. Smith said.

Separately, a DePuy engineer, Graham Isaac, testified on Thursday that before selling the A.S.R., the company only tested its performance on laboratory equipment at one angle of implantation.

Depending on the surgical technique and a patient’s build, orthopedic surgeons can implant the cup component of an artificial hip at a variety of angles. And because the A.S.R. had a design flaw, normal variance from the single angle at which DePuy had tested it made it more likely for the joint’s cup and ball components to strike each other, releasing metallic debris inside a patient.

DePuy conducted the post-mortem review of the A.S.R. in November 2010, just three months after it recalled the all-metal implant, but it never released the analysis. It also, apparently, did not conduct a similar review in response to the mounting number of complaints about the device that it received from doctors and others in 2008 and 2009.

Lorie Gawreluk, a spokeswoman for DePuy, said that she could not comment on any details of the lawsuit, but that the company believed that the evidence would show it acted appropriately. The trial’s proceedings were monitored over the Courtroom View Network.

The A.S.R. is projected to fail within five years in about 40 percent of patients who received the implant. That early failure rate, which is expected to grow over time, is many times higher than the failure rate for most hip replacements.

In the post-recall review in 2010, DePuy engineers examined the criteria and “controls,” or standards, that were used nearly a decade earlier when company officials tried to anticipate how the A.S.R. might perform. Because the version of the device that was sold in the United States was never clinically tested in patients, officials used the controls to assess the implant.

Among other things, DePuy officials failed to anticipate that the A.S.R. would have a high rate of wear as a patient moved, even though the control referenced in the device’s records demonstrated “that the product is more likely to experience contact between the head and rim” than competing implants.

In previously recorded testimony presented in court on Wednesday, DePuy’s president, Andrew Ekdahl, was shown an e-mail in which he was warned about the A.S.R.’s problems nearly three years before it was recalled.

Mr. Ekdahl and other DePuy executives have asserted that they acted properly and in a timely fashion to the device’s problems. The company spokeswoman, Ms. Gawreluk, said Mr. Ekdahl would not be made available for an interview.

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Are razor blade makers just ensuring a big cut?

We can put men on the moon. We can make computers small enough to carry around in our pockets. But we can't make a razor blade that stays sharp longer than a week?

It sounds trivial. But the utter lack of progress on the razor front raises fundamental questions about America's industrial might.

Has the sun set on the age of innovation in this country? Is it possible that American ingenuity has met its match in a relatively modest personal-hygiene product used by millions of consumers?

Or are the likes of Gillette and Schick, which account for about 90% of the replacement-blade market, conspiring to keep razor advances off the shelf to deliberately fleece customers and maintain multibillion-dollar revenue streams?

Either way you look at it, it's not a terribly flattering portrayal of U.S. business.

The global market for all shaving products is forecast to top $33 billion by 2015, according to Global Industry Analysts, a market researcher.

Procter & Gamble's Gillette, the market leader, estimates that about two-thirds of American guys age 15 and older shave with a razor, representing a U.S. market for razors and blades worth more than $2.4 billion a year. Worldwide, that market is more than $14 billion.

Schick says most men shave at least three times a week. Razor-Gator.com, a shaving-related website, figures that a man devotes roughly 3,300 hours of his life to shaving.

With those numbers in mind, you'd think teams of engineers would be busy improving the ways and means of a good shave. For example, water causes corrosion on blades, which contributes to making them dull. Isn't there an alloy, or a coating, to address that?

Moore's Law famously predicted that computer chips will double in processing power every couple of years or so. The result has been breakneck advances in the technology field. The first iPhone was introduced just six years ago, for instance, and we're already up to the iPhone 5.

Oh sure, Gillette and Schick keep adding more features. Gillette says its battery-operated Fusion ProGlide razor "delivers soothing micropulses." Schick says its Hydro Power Select boasts "three vibration settings, easy-to-read indicators and a one-touch control button, allowing men to interact with their razor in a new way."

Micropulses, vibration settings — this they can do. But they can't come up with a blade that stays sharp more than a few days?

"Sure they can," said Jeff Grant, president of Coating Services Group, a Lakeside company that makes scalpels for medical use and thus knows a thing or two about sharp edges. "They could make a ceramic blade that maybe costs $100 and lasts for years."

Well, that sounds good. An eight-pack of Gillette Mach3 Turbo shaving cartridges — one of the more popular razors — runs $24 at Walgreens. If you figure on changing the cartridge once a week, that would mean spending $156 each year on razor blades.

So, yeah, I'd spend $100 for a blade that lasts for two, three or more years.

And that, Grant told me, is exactly why we'll never be offered such a chance by Gillette or Schick.

"They'd sell you one blade and they'd be done," he said. "It's a business decision."

Susan Baba, a Gillette spokeswoman, told me she hadn't heard about any research into ceramic razor blades. But she said the company is dedicated to "figuring out the next stage of razors."

As for the longevity of current blades, Baba said you can't generalize. Some people make a blade last a few days, others can go months without changing cartridges.

"It all depends on the length of your hair, how often you shave, how many strokes you use," Baba said.

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