Dollars & Sense

ESPN will stop broadcasting in 3-D

Updated: 2013-06-13T03:19:24Z

3-D demise

ESPN said it will stop broadcasting in 3-D by the end of the year, dealing a major blow to a technology that was launched with great fanfare but has been limping along for years.

The sports network said there were too few viewers to make 3-D broadcasts worth it.

401(k) fees

Average fees paid by mutual fund investors in 401(k) retirement savings plans declined last year, according to the Investment Company Institute.

Costs for investing in equity funds offered in 401(k)s averaged 63 basis points in 2012, down from 65 basis points the prior year, the Washington-based trade group said. The average bond fund expense ratio dropped to 50 basis points, compared with 52 basis points in 2011, ICI said. A basis point is equivalent to 0.01 percentage points.

The proliferation of lower-fee products and more cost-conscious plan sponsors have contributed to the trend of declining expenses for funds in 401(k)s over the past 15 years.

Facebook hashtags

Facebook is introducing hashtags, the number signs used on Twitter, Instagram and other services to identify topics being discussed and allow users to search for them.

Facebook said people will be able to click a hashtag to see a feed of discussions that other users are having about a particular topic.

Reverse mortgages

The House has approved a bill giving the Federal Housing Administration the power to make quick fixes to its financially troubled reverse mortgage program.

The measure lets the agency make changes to the program using mortgage letters rather than its usual rulemaking process that can take months or even years.

The FHA is struggling with $5 billion in reverse mortgage losses this year. Reverse mortgages allow people over 62 to borrow against their home equity, stay in their home and use the money for living expenses.

Mortgage activity

Mortgage applications in the U.S. rose for the first time in five weeks as purchases and refinancing rebounded.

The Mortgage Bankers Association index climbed 5 percent in the week ending June 7 from the prior week, the Washington-based trade group said. The refinance index also advanced 5 percent, while the purchases gauge was up 4.7 percent.

Warfarin recalled

Zydus Pharmaceuticals is recalling a single lot of the drug warfarin after receiving a complaint that some of the tablets are too large.

Warfarin is a blood thinner widely used to prevent blood clots in patients with irregular heartbeats, heart valves or a history of heart attacks. Anyone with the product should stop selling or using it immediately and call 800-967-5952 to arrange its return to the manufacturer.

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