Modest gains...Postal Service losses...Snowstorm shutting down Northeast travel

Friday - 2/8/2013, 4:10pm EST

NEW YORK (AP) -- Stocks remain higher on Wall Street following a report showing that the U.S. trade deficit narrowed sharply in December. The market is also getting a boost from strong earnings reports from LinkedIn and Microchip Technology, a semiconductor maker.

WASHINGTON (AP) -- The U.S. Postal Service says it lost $1.3 billion in the first quarter of the new budget year. Officials say the agency saw continued growth in revenue from package delivery from October through December. And there was growth in political ad mailings thanks to the November elections. But that wasn't enough to offset business lost to email and other internet services.

BOSTON (AP) -- Most airlines have given up on flying into and out of New York and Boston and other airports in the Northeast, with snow falling across the region. It's the start of what forecasters say could be a historic blizzard. Residents have been stocking up on food and gassing up their cars, while airlines have scratched more than 4,200 flights through tomorrow. Massachusetts has banned all traffic from roads after 4 p.m.

SAN FRANCISCO (AP) -- Personal computer maker Hewlett-Packard is pledging to tighten standards for Chinese suppliers in an effort to reduce the use of low-paid student interns and other temporary workers. HP's new guidelines come a few months after Foxconn, a major manufacturer used by HP, acknowledged it has hired interns as young as 14.

NEW ORLEANS (AP) -- The maker of the device blamed for the power outage that interrupted the Super Bowl says a low "trip setting" on the equipment caused the partial blackout in the Superdome. S&C Electric says the outage would have been avoided if the operator of the relay had set the trip threshold higher. The equipment was owned and installed by Entergy New Orleans, the local electric utility company.


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