NEWS-04
McCartney tries to get back his Beatles songs.>
prices. Last week both the Dow and S&P moved into positive territory for
the year. The Dow Jones gained three hundred and eighty-one points for the
week.>
On the CBS MoneyWatch, a hacking warning for drivers and Paul McCartney tries to get back his Beatles songs. Hena Daniels is at the New York Stock Exchange with that and more. Good morning, Hena.
HENA DANIELS: Good morning, Anne-Marie. Wall Street traders are hoping to continue the upward trend in stock prices. Last week both the Dow and S&P moved into positive territory for the year. The Dow Jones gained three hundred and eighty-one points for the week. The S&P 500 finished the week twenty-six points higher and the NASDAQ gained forty-six points.
The FBI and the National Highway Safety Administration have issued a warning that modern cars are increasingly vulnerable to hacking. The FBI issued a public service announcement last week. It cites demonstrations in which researchers took control of various car functions like braking and steering by remote control. The hacking attacks can occur via Wi-Fi when the car is moving slow or fast.
Paint manufacturer Sherwin-Williams is buying rival Valspar in deal worth 11.3 billion dollars. The deal will expand Sherwin-Williams` reach in Asia and in Europe. The combined company will employ about sixty thousand people. Sherwin-Williams will remain headquartered in Cleveland but there will be a significant presence in Minneapolis where Valspar is based.
Zootopia remained on top at the box office the third week in a row. The Disney animated film earned thirty-eight million dollars in ticket sales this weekend. The Divergent series Allegiant opened in second place with just over twenty-nine million in sales and Miracles from Heaven grabbed the third spot.
No dramatic announcements are expected at today`s Apple event. Apple is expected to introduce new additions to its iPhone and iPad devices. Analysts expect Apple to introduce an upgrade to its older four-inch iPhone 4S. Tomorrow, Apple will be in court over the FBI`s demand to unlock an iPhone connected to the San Bernardino shooting.
And Paul McCartney has begun the process of reclaiming the rights to many of the songs he and John Lennon wrote for the Beatles. Back in 1985 Michael Jackson outbid McCartney for the rights ending their friendship. But because of a U.S. copyright law, songs written before 1978 can be reclaimed by writers fifty-six years after their initial release. The first songs will be reclaimable starting in 2018. Anne-Marie.
ANNE-MARIE GREEN: I`m sure the catalog is very valuable but I suspect it`s probably more than just the money for Paul McCartney.
HENA DANIELS: I`m sure it is.
ANNE-MARIE GREEN: Yeah. Hena Daniels at the New York Stock Exchange. Thanks a lot, Hena.
Well, still to come, March Madness shocker. Wisconsin comes up big in a heart-stopping buzzer beater against Xavier.
(ANNOUNCEMENTS)
MAN: He scores. He scores. Wisconsin has won it.
ANNE-MARIE GREEN: Oh, it was a wild finish for Wisconsin last night. With just two seconds on the clock, the seventh-seeded Badgers got a quick three at the buzzer to put them over second seed Xavier and through to the Sweet 16. Bronson Koenig said that he was just channeling his inner Steph Curry when he sank the winning shot.
March Madness certainly lived up to its name this weekend filled with buzzer-beaters upsets, and plenty of overtime. North Iowa took Texas A&M to two TOs. They put up a fight but A&M got the win in the end. It looked like an upset in the making. Fourteenth-seeded Stephen F. Austin taking sixth seed Notre Dame to the wire. But with 1.4 seconds on the clock, Rex Pflueger`s tip put Notre Dame ahead. The Irish are through to the Sweet 16 for the third year in a row.
And the Madness continued right to the last place of a weekend. Eighth- seeded St. Joseph`s put up a fight against the first-seeded Oregon Ducks. The Hawks kept it close throughout the game, but as the seconds ticked off in the second half the Ducks came away with it.
The Sweet 16 matchups are set with all four. One seeds making it through the weekend unscathed. The Madness continues later on this week. The Sweet 16 tips off right here on CBS Thursday at seven ten.
(ANNOUNCEMENTS)
ANNE-MARIE GREEN: Here`s another look at this morning`s top stories.
President Obama meets with Cuban President Raul Castro today in Havana. The President and his family arrived in Cuba yesterday. Mister Obama is the first sitting U.S. President to visit the communist nation in eighty-eight years. The President is also expected to meet with dissidents and watch a baseball game.
And Donald Trump meets with top Republican leaders today in Washington amid growing reports of efforts to derail his candidacy. Later, Trump will address a major pro-Israel lobbying group, so will Ted Cruz, Hillary Clinton, and John Kasich.
END
(Copy: Content and programming Copyright MMXVI CBS Broadcasting Inc. ALL RIGHTS RESERVED. Copyright 2016 CQ-Roll Call, Inc. All materials herein are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of CQ-Roll Call. You may not alter or remove any trademark, copyright or other notice from copies of the content.)
