Upbeat jobs data jolt interest rates
NEW YORK -- The biggest increase in jobs in three years pushed interest rates to their highest level since before the worst days of the credit crisis in 2008.
With the stock market closed for Good Friday, investors had a shortened day of trading in the bond market to react to the Labor Department's report that employers added the most jobs in March since before the recession began in December 2007.
Treasury prices fell after the report, sending their yields higher. Bond prices tend to fall as investors' confidence grows and demand for safe-haven investments wanes.
BB&T told to rehire dismissed worker
RALEIGH -- An administrative law judge has ordered bank owner BB&T Corp. to rehire a former company investigator who said she was fired after exposing a North Carolina development scheme.
Judge Jeffrey Tureck said that Amy Stroupe should be reinstated to her position with back pay. Stroupe said in an interview that she feels vindicated and hopes to return to her job.
BB&T spokeswoman Cynthia Williams said the company will appeal.
Stroupe said she called the FBI about the development scam because the Winston-Salem-based bank refused to take action. Investigators now say the village of Penland development was a Ponzi scheme.
GM, Hartford repay bailout funds
WASHINGTON -- The Treasury Department said automaker General Motors and insurer Hartford Financial Services have repaid billions of bailout dollars.
Treasury said GM repaid $1 billion of $6.7 billion in loans it received as part of a $50 billion rescue. Hartford repaid its entire $3.4 billion bailout.
The money came from a $700 billion bailout that Congress passed in October 2008 amid the worst financial crisis in generations.
Google acquires live video startup
SAN FRANCISCO -- Google is bringing in some extra help for its YouTube video service with the acquisition of another startup. The purchase of Episodic marks Google's fifth acquisition so far this year. Terms of the deal announced Friday weren't disclosed.
Episodic, based in San Francisco, provides a platform for streaming live video on the Web. YouTube recently has been showing more live video besides the more than 500 million clips that are continuously available on its site.
Sharp unveils new screens using 3-D
TOKYO -- Sharp's latest 3-D displays deliver bright, clear imagery without the cumbersome glasses usually required for such technology. Now the bad news: They work only on a 3-inch screen held one foot from the viewer's face.
Sharp demonstrated liquid crystal screens Friday for mobile devices that showed 3-D animation, touch-panel screens that switched from one 3-D photo to another and a display connected to a 3-D video camera.
The drawback until now has been the need for special glasses, which show different images to the right eye and the left eye. Sharp's 3-D technology doesn't require them because the displays are designed to shoot different images to each eye.
Facebook acquires photo sharing site
SAN FRANCISCO -- Facebook has acquired a startup called Divvyshot to create more ways for its 400 million users to share their photos online.
Terms of the deal announced Friday weren't disclosed.
Divvyshot, a year-old startup based in San Francisco, runs a service that makes it easier for more people to contribute to the same online photo album.
More than 3 billion photos already are uploaded each month to Facebook, one of the Internet's most popular hangouts.
Divvyshot said Friday that it is no longer accepting new accounts and will move all its users to Facebook within the next six weeks.