Business Briefs for Feb. 1

Apple hires Browett to be retail chief

In its quest to spread its stores around the world, Apple is reaching over the Atlantic to snatch the CEO of a British electronics chain to head its retail operations.

Apple Inc. said Tuesday that Dixons Retail PLC's John Browett will become its top retail executive April 20. He will report directly to CEO Tim Cook.

Browett, 48, fills a job that opened when Ron Johnson left to become the CEO of J.C. Penney Co. in November. Johnson pioneered Apple's highly successful retail stores, known for their stark design and their Genius Bar, where Apple customers get technology advice and support.

Apple leads smartphone sales in fourth quarter

Samsung Electronics Co. was the only smartphone maker partnering with Google Inc. that found holiday cheer competing against Apple Inc.'s iPhone.

Apple led the smartphone market in the fourth quarter after unveiling the iPhone 4S in October. Of the 9.4 million devices activated by AT&T Inc., the second-largest U.S. wireless carrier, 7.6 million were iPhones. Verizon Wireless, the largest provider, said 56 percent of its 7.7 million smartphones were iPhones. Samsung was No. 2 in shipments.

Higher expenses cut into Amazon's net income

Amazon's fourth-quarter net income dropped sharply, weighed down by higher operating expenses even as revenue grew.

Seattle-based Amazon.com Inc. said Tuesday that its net income was $177 million in the three months that ended Dec. 31, down from $416 million a year earlier. Operating expenses, meanwhile, grew as the company invests in sales centers.

Dow, S&P post strong starts for 2012

In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor's 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997.

Investors were encouraged by modest but welcome improvement in the U.S. economy, including an 8.5 percent unemployment rate, the lowest in almost three years. Corporate profits — except Apple's — didn't wow anyone, but they were good enough.

Zoo official urges end to chimps as pitchmen

Steven Ross, an assistant director at the Lincoln Park Zoo, is renewing his call for CareerBuilder.com to stop using chimps in its Super Bowl commercials because people lose sight of them as endangered species and become less likely to help save them.

Ross has made this pitch every year the company featured chimps in commercials but now he's hoping a recent Duke University study supporting his argument might help turn public opinion against the commercials.

Andreessen firm raises $2.7B for investing

A venture-capital firm started by Silicon Valley entrepreneur Marc Andreessen has raised some $2.7 billion to invest in technology startups.

Additional fundraising announced Tuesday serves as further validation of the success Andreessen has enjoyed since he became a venture capitalist in mid-2009. Andreessen helped trigger the dot-com boom when he co-founded Web browser pioneer Netscape Communications in the mid-1990s.

W.R. Grace bankruptcy case advances

W.R. Grace & Co. won the second court approval the specialty chemical maker needs to exit bankruptcy almost 11 years after seeking court protection to deal with claims its asbestos products injured users.

Grace couldn't immediately say when it will end bankruptcy court oversight. The timing will depend partly on whether any creditors appeal the plan, the company said in the statement.

London home available for $158 million

A 16,000-square-foot home in the U.K.'s most expensive neighborhood is being offered for more than $158 million, according to the broker handling the sale.

The neo-classical house is at 6 Palace Green in Kensington, one of London's few private roads where no passing traffic can enter. Luxury-home prices in Kensington have gained about 110 percent since 2004.

Maine lobstermen's 2011 haul tops 100M pounds

Maine's fisheries commissioner says the state's lobstermen last year harvested more than 100 million pounds of lobster. It's the first time the lobster catch has topped the 100 million-pound mark.

Department of Marine Resources Commissioner Patrick Keliher said the numbers show that the lobster resource is healthy along the state's jagged coast. The previous record of 94.7 million pounds, worth more than $313 million, was set in 2010.