HEALTH CARE
Data breach affects 3,300 patients
Hackers may have accessed medical data, Social Security numbers, addresses, phone numbers, and insurance information for about 3,300 patients, Partners HealthCare said Thursday. The breach occurred when some employees were tricked into responding to phishing e-mails, which allowed unauthorized access to their e-mail accounts. Some of the e-mails contained private information. Partners discovered the problem in November and has since investigated, contacted the authorities, and taken steps to secure e-mail accounts. Affected by the breach were patients of Brigham and Women’s Hospital, Massachusetts General Hospital, North Shore Medical Center, Partners Continuing Care, and Newton-Wellesley Hospital. They were notified by mail on Thursday.
PRIYANKA DAYAL McCLUSKEY
HEALTH CARE
Hand sanitizers not fully proven, FDA says
WASHINGTON — Federal officials say more information is needed to establish the safety and effectiveness of hand sanitizers that hospitals, doctors’ offices, and nursing homes use to prevent infections. The Food and Drug Administration asked manufacturers to submit additional data about medical washes and sanitizers. It wants to know more about long-term effects on the skin from daily use, hormonal effects, and whether the products contribute to the spread of antibiotic-resistant bacteria. The companies have until 2018 to submit the data. Products that are not shown to be safe or effective would have to be reformulated or removed from the market.
ASSOCIATED PRESS
AUTOMOTIVE
GM to invest $5.4 billion in US plants to build new models
General Motors Co. will spend $5.4 billion on its US auto plants in the next three years as it prepares to build a series of new models. The investment includes $520 million for tooling and equipment at a plant near Lansing, Mich., that makes sport utility vehicles, $139.5 million for a new body shop and improved stamping facilities in Warren, Mich., and $124 million at a Pontiac, Mich., center that makes steel body panels. Details on the remaining $4.6 billion will be provided “over the next several months.” Thursday’s announcement brings to $16.8 billion GM’s investments in its US facilities since it exited a government-assisted bankruptcy in June 2009.
ASSOCIATED PRESS
PUBLIC POLICY
IRS acts to steer clear of politics
WASHINGTON — The IRS has taken ‘‘significant actions’’ to stop its agents from targeting political groups based on their names and policy positions, according to a report from the government watchdog that disclosed the inappropriate activity two years ago. The agency’s inspector general says the IRS is doing a better job of processing applications for tax-exempt status. The inspector general’s 2013 audit said agents had inappropriately singled out Tea Party movement and other conservative groups for extra scrutiny when they sought tax-exempt status.
ASSOCIATED PRESS
TECHNOLOGY
LinkedIn’s forecast disappoints
LinkedIn Corp. on Thursday forecast second-quarter revenue that would fall short of analysts’ estimates: $670 million to $675 million. Chief executive Jeff Weiner has been expanding the company, which runs a networking site for professionals, beyond its foundation as a portal for recruiters and job hunters, building tools that use the site’s user data for marketing. The company’s shares fell 20 percent in extended trading, after dropping 2 percent to close at $252. The stock had gained 9.7 percent this year. The site is expanding into professional education with an agreement this month to acquire Lynda.com Inc. for $1.5 billion.
BLOOMBERG NEWS
ECONOMY
Consumer spending rises 0.4% in March
WASHINGTON — US consumers boosted spending in March by the largest amount in four months, a hopeful sign for a key sector of the economy after a frigid winter. Spending increased 0.4 percent in March, the strongest gain since a similar increase in November, the Commerce Department reported. Spending fell in December and January before climbing a modest 0.2 percent in February. The rise came despite the fact income growth was flat in March, the poorest showing in more than a year and a reflection of the fact that job gains slowed sharply in the month. The latest results suggest consumer spending, which accounts for 70 percent of economic activity, could help boost an economy that barely grew in the first quarter.
ASSOCIATED PRESS
FINANCE
Fannie, Freddie not ready for a severe recession
WASHINGTON — The latest ‘‘stress tests’’ show that Fannie Mae and Freddie Mac, rescued by taxpayers during the 2008 financial crisis, would need as much as $157.3 billion in additional aid in a severe US and global recession, said the Federal Housing Finance Agency, which oversees the mortgage giants. Fannie and Freddie were required to submit to the tests under the 2010 law that overhauled financial regulation. Taxpayers provided $187 billion to rescue the government-sponsored companies after they incurred massive losses on risky mortgages. The gradual recovery of the housing market has made them profitable again, and they have fully repaid the government loans.
ASSOCIATED PRESS
PUBLISHING
NY Times Co. posts $14.3 million loss
NEW YORK — The New York Times Co. posted a first-quarter loss of $14.3 million, after reporting a profit in the same period a year earlier. The company, which added digital subscribers amid declines in print advertising, has been investing in video, mobile, and marketing messages designed to resemble news stories to offset declines in print advertising and circulation as more readers spend more time online. This month, the company said it would stop charging for its mobile app in May, acknowledging that its push to attract more young digital readers with a fee-based subscription was not working. Analysts have said the move will have little effect on the bottom line. Digital ad sales rose 11 percent.
WIRE SERVICES
TECHNOLOGY
Apps seen as a way to aid the elderly
NEW YORK — Apple, IBM, and the Japanese insurance and bank holding company Japan Post have formed a partnership to improve the lives of elderly people in Japan. The deal was announced in New York on Thursday. The program will provide iPads with apps designed to help seniors manage their day-to-day lives and keep in touch with family members. IBM will provide cloud-computing services and help to create apps.
ASSOCIATED PRESS
EARNINGS
Athenahealth stock surges after profit nearly doubles
WATERTOWN — Shares of athenahealth Inc. bounced back in aftermarket trading Thursday after the company reported first-quarter results. The maker of billing and medical practice management software said adjusted net income almost doubled. Its shares climbed 8.5 percent to $133.08 in after-hours trading. The shares fell 3.4 percent in Thursday’s regular session and are down 16 percent in 2015. Athenahealth said it lost $8.8 million, or 23 cents per share, in the first quarter, and it reported a similar loss a year ago. Excluding one-time items, however, the company said net income totaled 24 cents per share, up from 12 cents a year earlier. Revenue climbed 27 percent to $206.4 million. Zacks Investment Research says analysts expected net income of 13 cents per share and $204.6 million in revenue. Athenahealth maintained its full-year guidance, which calls for profit of $1.10 to $1.20 per share on $905 million to $925 million in revenue.
ASSOCIATED PRESS