Austin-area gas prices drop 2 cents
Austin-area gas prices dropped 2 cents this week to an average of $3.29 per gallon, according to data from auto club AAA Texas.
It was the 10th consecutive week of price declines for the area. Those declines came after prices had climbed 40 cents in February, reaching an average of $3.61 per gallon on Feb. 21.
Experts say falling gas prices have in part been due to an increase in refinery production now that regularly scheduled refinery maintenance has been completed.
Statewide, the average price dropped 1 cent this week to $3.34 per gallon, AAA said. The national average rose 1 cent to $3.52 per gallon.
Bazaarvoice names new president
Austin-based software maker Bazaarvoice Inc. said Thursday that it has hired former Convio Inc. CEO Gene Austin as president.
Austin led Convio, which sells software for nonprofits, through an initial public offering and its acquisition by Blackbaud Inc. in 2012.
Bazaarvoice also said it has hired Marc Cannon, a Convio veteran and most recently vice president of services at Blackbaud, as executive vice president of client services.
Bazaarvoice manages online product ratings and reviews for major retailers.
Tech giant Intel picks COO Krzanich as next CEO
NEW YORK — Intel, one of the pillars of Silicon Valley, is following its traditions and promoting an insider to the job of CEO. The world’s largest chipmaker is tasking Chief Operating Officer Brian Krzanich with steering it through an industry shake-up that is seeing tablets and smartphones overshadow Intel’s base in personal computers.
Intel announced Thursday that Krzanich will replace Paul Otellini on May 16. Six months ago, Otellini, 62, announced his surprise decision to resign and will end a nearly 40-year career with Intel, including eight years as CEO.
Krzanich, who is 52 and spent his entire career at the company, comes out of a manufacturing organization where meticulous attention is required to churn out processors with billions of minute details.
Rate on 15-year loan at record 2.56 percent
WASHINGTON — The average U.S. rate on the 15-year fixed mortgage fell to a new record low last week, and the rate on the 30-year fixed loan declined. Cheaper mortgages have encouraged more home-buying and refinancing.
Mortgage buyer Freddie Mac said Thursday that the average rate for the 15-year fixed mortgage slipped to 2.56 percent. That’s the lowest on records dating to 1991. It fell from 2.61 percent last week, the previous record.
The rate on the 30-year loan declined to 3.35 percent from 3.40 percent last week. That’s near the average rate of 3.31 percent reached in November, the lowest on records dating back to 1971.
GM 1st quarter profit falls; pickups key to year
DETROIT — New cars were key for General Motors’ in the first quarter. New trucks will be the key to the rest of this year.
Two new Opels — the Mokka subcompact SUV and Adam small car — helped GM stanch its first-quarter losses in Europe, while the Cadillac XTS and Chevrolet Malibu sedans took China by storm. GM’s worldwide sales rose almost 4 percent in the first three months.
Now GM’s fortunes rest on the redesigned Chevrolet Silverado and GMC Sierra full-size pickups. The trucks, which were last updated in 2007, go on sale in a few weeks. GM hopes to cut into Ford’s lead in the pickup segment, which is red-hot due to a recovery in the housing and construction markets.