American flights delayed by iPad app glitch
More than 50 American Airlines flights across the country were delayed because of a glitch in an iPad app that allows pilots to view flight plans. American Airlines, based in Fort Worth, Texas, said the problem was caused by an iPad app that provides navigational charts for pilots. Most major airlines are converting from stacks of paper maps — included those pilots carry in a 35-pound kitbag — to digital maps displayed on iPads or other tablets. Because of the malfunctioning app, pilots could not view their navigational charts, forcing the carrier to delay 24 flights Tuesday and 30 flights Wednesday morning, American Airlines spokesman Casey Norton said.
Pending home sales rose 1.1% last month
More Americans signed contracts to buy homes in March, the third straight month of gains as housing heats up with the start of the spring buying season. The National Association of Realtors said its seasonally adjusted pending home sales index rose 1.1 percent to 108.6 last month. The index has climbed 11.1 percent over the past 12 months after having dipped in 2014. The number of signed contracts are at their highest level since June 2013. Pending sales improved in the South and West. But the number of signed contracts fell in the Northeast and Midwest, two areas that many economists expected to show rebounds after a harsh winter hurt sales at the beginning of 2015. The overall figures suggest strengthening demand from would-be buyers, even though there are relatively few new listings on the market and sales prices are rising at a faster rate than wages.
Compensation up 69% for Yahoo's Mayer
The value of Yahoo CEO Marissa Mayer's pay package surged last year, mostly due to gains in the Internet company's stock price that came despite concerns about the overall health of Yahoo's business. According to a regulatory filing, Mayer's 2014 compensation increased 69 percent to $42.1 million. Her salary was unchanged at $1 million, but the value of her stock and option awards jumped. The company said a large part of the increase came from options that were part of Mayer's recruitment package. Those awards were worth $15 million when they were approved, but Yahoo says their value has risen to about $40 million.
Bernanke hired as senior adviser at Pimco
Former Federal Reserve Chairman Ben Bernanke will serve as a senior adviser at global investment firm Pacific Investment Management Co. Bernanke served two terms as Federal Reserve Chairman, from 2006 through 2014. He oversaw the federal government's response to the 2008 financial crisis. Earlier in April, Bernanke joined hedge fund Citadel LLC as a senior adviser. Pimco, based in Newport Beach, Calif., said Bernanke will contribute his economic insights and engage with clients.
Big expectations for Microsoft Windows 10
Microsoft expects its newest operating system, Windows 10, to be running on 1 billion computers within two to three years. The figure, which includes desktops, laptops, tablets and smartphones, was repeatedly touted at Microsoft's annual conference for application developers. Microsoft has struggled to get companies to make apps for Windows mobile devices, part of a self-perpetuating cycle that makes Windows smartphones less attractive to consumers. But Microsoft announced several developer tools Wednesday that could bring thousands of new apps its way when Windows 10 launches this summer.
UAW says it has most VW plant workers
The United Auto Workers union has 816 members at the Volkswagen plant in Tennessee, or about 55 percent of the total blue-collar workforce, according the union's latest disclosure with the U.S. Department of Labor. The filing comes as the UAW works toward gaining collective bargaining rights at its first foreign-owned plant in the South. And the union's case for recognition could be bolstered by a leadership shake-up at the German automaker that has left a former union chief, Berthold Huber, as the interim chairman of the world's No. 2 automaker. The UAW last year narrowly lost a union vote at the Chattanooga plant.
Yelp shares sink after forecast disappoints
Yelp Inc., the operator of consumer review website Yelp.com, forecast second-quarter revenue below analysts' expectations, sending its shares down about 15 percent in extended trading. The company also reported on first-quarter revenue below the average analyst estimate as it added fewer-than-expected local advertising accounts. Yelp's local advertising accounts rose about 43 percent to 90,200 in the first quarter. Analysts were expecting 91,900 accounts, according to market research firm FactSet StreetAccount.