Samsung's quarterly earnings drop 27%

Samsung Electronics Co. said its quarterly earnings dropped 27 percent in the fourth quarter, but its results beat forecasts. The world's top smartphone maker reported that its October-December earnings were 5.3 trillion won ($4.9 billion), compared with 7.3 trillion won a year earlier. Samsung's quarterly net income has dropped over a year earlier for four straight quarters. Sales fell 11 percent to 52.7 trillion won from a year earlier while operating profit slumped 36 percent to 5.3 trillion won.

Orbitz, Hyatt team up to sell package deals

Orbitz Worldwide and Hyatt Hotels have jointly created a new website to sell vacation packages at Hyatt resorts around the world, the companies said. The website,, uses Orbitz technology and allows consumers to search for and book combinations of flights, car rentals and hotel rooms at more than 500 Hyatt properties. HyattTravel will join several other travel booking sites powered by Orbitz, including Cheaptickets, ebookers, and RatesToGo.

Apple releases update to its iOS system

Apple has rolled out its latest iOS update, aimed at fixing bugs and improving performance. The update, iOS 8.1.3, was made available Tuesday. It fixes an issue that prevented some users from entering their Apple ID passwords for Messages and FaceTime, addresses a problem that caused Spotlight to stop displaying app results, fixes a bug that prevented multitasking gestures from working on iPads and adds new configuration options for educational standardized testing.

TracFone to pay $40M to settle with FTC

The nation's largest prepaid mobile provider, TracFone Wireless, will pay $40 million to settle government claims that it misled millions of smartphone customers with promises of unlimited data service. The Federal Trade Commission said that TracFone's advertising promised unlimited data, but the company then drastically slowed down consumers' data speeds when they had used a certain amount of data.