Verizon and union officials representing about 39,000 striking landline and cable workers agreed to restart negotiations on Tuesday, according to the U.S. Department of Labor.
Secretary of Labor Thomas Perez said he met with both sides on Sunday in Washington.
“The parties had an open, frank and constructive dialogue about finding a comprehensive way forward to resolve disputed issues and get people back to work,” Perez said.
The two striking unions — the Communications Workers of America and the International Brotherhood of Electrical Workers — represent installers, customer service employees, repairmen and other service workers in nine eastern states and the District for Verizon’s wireline business, which provides fixed-line phone services and FiOS Internet service.
Workers walked off the job April 13. They had been working without a contract since August.
The unions say that they’re striking because Verizon wants to freeze pensions, make layoffs easier and rely more on contract workers.
The telecom giant says health-care issues need to be addressed for retirees and workers as medical costs have grown.
— Associated Press
A Ukrainian hacker pleaded guilty Monday to his role in an international scheme that used stolen unpublished news releases to make $30 million in profits.
Vadym Iermolovych, 28, entered the plea in Newark, N.J., to a complaint charging him with aggravated identity theft and conspiracy to commit wire fraud and computer hacking. The Kiev man is to be sentenced Aug. 22.
Iermolovych was among several people arrested in August in the United States and Ukraine. The Securities and Exchange Commission charged them and 23 other people and companies in the United States and Europe.
The U.S. attorney’s office said that from 2010 to 2015, the group gained access to more than 150,000 press releases that were about to be issued by Marketwired, PR Newswire in New York and Business Wire of San Francisco. The press releases contained earnings figures and other corporate information.
The defendants then used roughly 800 of those news releases to make trades before the information came out, exploiting a time gap ranging from hours to three days, prosecutors said.
— Associated Press
● Airlines canceled and delayed fewer flights in March and consumer complaints were down. The Department of Transportation said 81.5 percent of flights on the main airlines arrived on time during March, up from 78.7 percent in March 2015. Hawaiian Airlines was the best performer, while Spirit Airlines finished last. About 1 percent of flights were canceled in March, up 2.2 percent from a year earlier. The agency said it received 1,055 consumer complaints about U.S. airlines, down from 1,378 in March 2015.
● Quaker Oats announced a voluntary recall of a small quantity of its Quaker Quinoa Granola Bars distributed in the United States because of the possible risk of Listeria contamination. The company said in a statement that there have been no reported illnesses to date. The recall covers Quaker’s Quinoa Granola Bars Chocolate Nut Medley and Quinoa Granola Bars Yogurt, Fruit & Nut.
● Safra A. Catz became the highest-paid U.S. female executive in fiscal 2015 when she was named co-chief executive of Oracle. Catz was awarded a $56.9 million pay package last year, placing her first among women on the Bloomberg Pay Index, a ranking of the 200 best-paid executives at companies that trade on U.S. exchanges. Alphabet Chief Financial Officer Ruth Porat emerged as the No. 2 woman with $41.1 million in awarded compensation after leaving Morgan Stanley, where she held the same role. General Motors chief executive Mary Barra, the first female CEO of a major automaker, came in third with $36.3 million awarded pay.
● Gannett, escalating its bid for Tribune Publishing, raised its all-cash offer for the owner of the Baltimore Sun, Chicago Tribune and Los Angeles Times to about $864 million. The new bid is 22 percent more than what Gannett offered April 25, two weeks after unsuccessfully making a private bid. The total value of the deal includes about $385 million of debt outstanding as of March 27, Virginia-based Gannett, publisher of USA Today, said in a statement. Tribune said it is reviewing the new proposal.
— From news services
● 8:30 a.m.: Labor Department releases Consumer Price Index for April.
● 8:30 a.m.: Commerce Department releases housing starts for April.
● 9:15 a.m.: Federal Reserve releases industrial production for April.
● Earnings: Home Depot.
— From news services