Personal Finance

Ticketmaster agrees to settle lawsuit

Ticketmaster settles

Ticketmaster has agreed to settle claims for up to $23 million in a lawsuit affecting more than a million people who after buying a ticket online were enrolled in a rewards program that cost $9 a month but never gave them any benefits.

Plaintiffs attorney Adam Gutride said affected customers will be told Friday how to file a claim. Each customer can get up to $30.

About 1.12 million people signed up for the rewards program after buying a ticket at Ticketmaster.com. The plaintiffs argued that they didn't know about the fees, which were charged to the credit or debit card used to buy the ticket.

Cuts in Canada

Aluminum smelter and parts maker Alcoa said it will close two production lines at a plant in Canada and cut about 500 jobs there because of lower aluminum prices.

A planned upgrade for the facility in Quebec is being pushed back three years to 2019, the company said. Alcoa has seen strong demand for aluminum, but prices have fallen. Those lower prices were a factor when Alcoa reported lower-than-expected first-quarter revenue last month.

Dropping a notch

Warren Buffett's Berkshire Hathaway saw its credit grade lowered one level by Standard Poor’s after the ratings firm revised its criteria for evaluating insurance holding companies.

Berkshire was cut to AA from AA+, S said. The ratings firm said its outlook on all of Berkshire’s ratings is negative.

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