'Furious 7' film shows off sharp new Imax laser technology

LOS ANGELES — Deeper blacks, brighter whites, even bigger screens and better sound. When the high-speed action sequel "Furious 7" debuts this weekend, audiences at Hollywood's famous TCL Chinese Theatre will see every tire skid and fistfight in Imax's brand-new laser format.

Lasers are supposed to be able to heighten contrast. In laser-projected trailer footage of "Furious 7" shown exclusively to The Associated Press, details were noticeably crisper than images shown in a standard-sized auditorium with a regular digital projector. Deep blacks, one of the touted benefits of laser projection, stood out boldly, particularly in actress Michelle Rodriguez's eyes and hair, a suit worn by actor Jason Statham, Vin Diesel's tank top, black car paint and shadows in the grooves of tire treads.

"Furious 7" will mark the first time a film is being premiered in laser. Imax's first laser projector just started operating in Toronto's Scotiabank Theatre in December. The Chinese Theatre, one of the largest Imax theaters in the world, is one of more than a dozen locations that Imax expects to outfit with laser projection this year. Others include the AMC Loews Lincoln Square 13 in Manhattan and Empire Cinemas' Leicester Square in London. Tickets for laser-illuminated shows will be the same price as those shown in Imax's standard format.

Laser projection is more than contrast, though. The technology will allow more movies to be screened in giant theaters, says Imax Corp. CEO Rich Gelfond. Until now, digital projectors haven't been able to use all the real estate of the largest screens because industry-standard xenon bulbs weren't bright enough. And the high cost of Imax film prints, which show more brightly than digital files, meant that only about eight big-budget blockbusters a year could be shown on giant screens.

Lasers change all that. Screens should be able to extend to 140 feet wide and utilize more of the screen at the top and bottom, Gelfond says. The Chinese Theatre can now show Imax movies at a width of 96 feet, compared to 86 feet in the past, says theater president Alwyn Hight Kushner.

Larger screens means being able to fill bigger theaters with more seats and build even larger auditoriums from scratch, says Gelfond. He hopes the better visual experience and 12-channel audio that Imax is rolling out with the laser upgrade will drive more moviegoers to want to see films in Imax, which typically cost a few dollars more than standard movie tickets. The laser system is expected to boost gross profits by around $1 million this year, Gelfond told investors in October.

"I think over time, this will be the next big thing," Gelfond said in an interview Tuesday with The AP. "It's not going to change the world in a day. It's going to happen a pair of eyeballs at a time."

Imax joins a host of other companies shifting to lasers, such as projector maker Christie, which has its own offering and a partnership with Dolby Laboratories Inc. Barco Inc. supplies its own projectors and provides them for Imax. There are about 25 screens worldwide outfitted with laser projectors and about half are Barco's, according to Barco vice president of digital cinema, Patrick Lee. Dolby is set to announce a rollout in the next several months; Christie says it has a half-dozen laser projectors installed.

Imax plans to use lasers only on its biggest screens — 80-feet-wide and above — and at institutions such as the Smithsonian, which has ordered three for all its Imax theaters. Imax has contracts with over 71 theaters to install its laser system so far.

Art Seago, the CEO of family-owned Santikos Theatres, said customers felt they had a better experience after the Santikos Palladium IMAX in San Antonio installed a Barco laser system in December. Seago plans to convert all of the company's big screens to laser projection.

"They know there is something different without us telling them it's laser," he says. "We think it's the new standard for what a guest should expect."

One drawback of the format is its hefty cost. Today's digital projectors cost tens of thousands of dollars apiece. Barco's Lee says its laser offering costs about four to five times that, a figure echoed by Christie spokesman Dave Paolini. Gelfond says the Imax system will cost only 50 percent more at first, and decrease over time.

Because of the cost, it remains to be seen how far the laser rollout will spread, says Keith Watanabe, director of business development for Miami-based Cinema Equipment and Supplies.

"Everyone that begins to see films like this will prefer it," he says. "The question is, will people come up with the capital to make this investment a reality?"

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Follow AP Business Writer Ryan Nakashima at https://twitter.com/rnakashi

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GoDaddy shares debut with jump following high pricing

NEW YORK — GoDaddy shares are jumping in their market debut after the Web hosting company known for racy TV commercials priced its initial public offering above expectations.

The stock rose $6.15, or 31 percent, to $26.06 in morning trading, well above the IPO price of $20 per share. That marked an increase from the prior high estimate of $19 per share.

Overall, the Scottsdale, Arizona, company is offering 23 million shares and hopes to raise up to $460 million in the offering.

Underwriters have a 30-day option to buy up to 3 million more shares. The lead underwriters are Morgan Stanley & Co., J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

GoDaddy Inc. says it's the largest provider of Web domains and has about 13 million customers. It posted a net loss of $143.3 million in 2014, though its revenue grew 23 percent to $1.4 billion.

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Hot cars at the New York International Auto Show

NEW YORK — The New York International Auto Show opens this week with a mix of mainstream sedans and glitzier models from automakers across the globe.

With a nod to everyday car buyers, a handful of new midsize cars are being introduced, including the Malibu from Chevrolet and the Optima from Kia. Honda has kept its auto show offering under wraps, but the expectation is for a new Civic compact. The youth-oriented Scion brand is showing off its first-ever sedan.

Lovers of luxury and performance won't be disappointed. Among the introductions are the 2016 Lexus RX, the country's most popular luxury SUV, and the 570S, a high-performance sports car from Formula One racing company McLaren that's priced under $200,000.

Media days are on Wednesday and Thursday and the public is allowed in starting Friday through April 12. Here are highlights of some of the models to be introduced:

CADILLAC CT6: This is GM's latest effort to compete with the BMW 7-Series and the Mercedes S-Class in the big rear-drive luxury sedan category. Caddy's previous full-size model, the DTS, embodied old Detroit luxury — a spongy boat built for straight-line freeway driving. This time, though, GM says the flagship CT6 has an aluminum-intensive body with 11 different materials for strength, performance and efficiency. The car has a spacious interior, but the weight and agility of smaller cars. GM says it's lighter than the smaller BMW 5-Series. The CT6 is powered by a new 3-Liter twin-turbo V6 with 400 horsepower, plus two less-powerful engines from the previous generation. Safety features include night vision that helps identify people and large animals with heat signatures on a dashboard display. Pricing and gas mileage weren't announced.

LEXUS RX: Toyota's luxury brand revamps the top-selling luxury SUV in the U.S., the RX, for 2016, with a new aerodynamic look, an updated engine and a more spacious and luxurious interior. The sleeker outside makes the SUV quieter and more sure-footed at highway speeds, according to Lexus. The company says it upgraded the 3.5-Liter V6, pushing horsepower from 270 to 300. A new eight-speed automatic transmission boosts gas mileage. There's also the hybrid 450h. Lexus sold more than 107,000 of RXs last year, up 3.4 percent from a year ago. The new RX goes on sale sometime in the final three months of this year. Pricing and fuel economy were not announced. But the RX 350 now starts around $41,000.

JAGUAR XF: The sexy Jaguar XF sedan gets a makeover to look more like a coupe. Additional aluminum lightens the car by up to 265 pounds. The second generation of the car, which was shown in London last week with a high-wire journey across Canary Wharf, also gets a new supercharged V6 engine with 340 horsepower and 380 horsepower ratings. An updated suspension is designed to give the XF a more comfy ride, yet better handling than the current model. With an eight-speed automatic transmission, it can go from 0-60 mph in 5.1 seconds. Top speed is electronically limited to 155 mph. Pricing wasn't released, but the current model starts around $50,000. The XF goes on sale in the winter of 2015.

PORSCHE BOXSTER SPYDER: With the roar of 3.8-Liter, 375 horsepower flat six engine, Porsche introduced an open-top version of its latest Boxster model Tuesday night. Porsche says the Spyder is the fastest and most powerful Boxster ever. The car, with wide use of aluminum to make it lighter, can go from zero-to-60 in 3.8 seconds. That beats the 4.7 seconds of the Boxster GTS, currently at the top of the Boxster lineup. The sculpted mid-engine two-seat Spyder also has a top speed of 180 miles per hour. The Boxster Spyder starts at $82,100. Orders are being taken now in the U.S., Porsche's largest market. But it will take four to five months for delivery.

MCLAREN 570S: British supercar maker McLaren Automotive believes its ready to tackle the U.S. market with a decked-out luxury sports cars priced under $200,000. The 570S, a car that McLaren says will merge racing technology with day-to-day driving at a price around $190,000, goes on sale in November. McLaren, best known for Formula One race cars, says the 570S is critical to its long-term viability as a manufacturer. Even though it's cheap for a McLaren, the 570S is no slouch. The mid-engine, rear-drive 570S has a carbon fiber chassis and a 562 horsepower, 3.8-Liter turbocharged V8. It can go from zero to 62 mph in 3.2 seconds and has a top speed of 204 mph. Just what you need for the daily commute.

SCION iM, iA: Toyota is looking to a new sporty hatchback and a low-cost sedan to revive flagging sales of its youth-oriented Scion brand. The brand was started in 2003 to lure people 18 to 34 to the aging Toyota family. But the average age of the head of a Scion-owning household is 51. Brand chief Doug Murtha says many Scion buyers are parents of millennials. The hatchback iM, priced under $20,000, is aimed at those who want a sporty car that can haul things. The iA sedan, to cost around $16,000, looks more like a coupe but has enough room to tote people. The iA's 1.5-liter engine can get up to 42 miles per gallon on the highway. The sportier hatchback, with a 1.8-liter engine, gets up to 37 mpg. Both cars hit showrooms in September.

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US stock indexes extend slide in morning trading

Major U.S. stock indexes veered lower in morning trading Wednesday, as investors considered what a pair of disappointing economic reports on manufacturing and jobs could mean for corporate profits. Health care stocks were among the biggest decliners. Oil prices surged.

KEEPING SCORE: The Dow Jones industrial average fell 64 points, or 0.4 percent, to 17,711 as of 11:19 a.m. Eastern. The Standard & Poor's 500 index lost six points, or 0.3 percent, to 2,061. The Nasdaq composite shed 23 points, or 0.5 percent, to 4,876.

THE QUOTE: "We're seeing a bit of a pullback here the last couple of days," said James Liu, global market strategist for J.P. Morgan Asset Management. "The concerns right now are obviously around global growth and this morning around U.S. economic growth."

HIRING SLOWS: Payroll processor ADP said that U.S. companies added a seasonally adjusted 189,000 jobs last month. That was below market expectations for an increase of around 250,000. Though ADP's survey doesn't always tally with official numbers, the figures may prompt some analysts to reduce forecasts for the government's next monthly jobs tally, due out Friday.

MANUFACTURING MALAISE: The Institute for Supply Management said its U.S. manufacturing index slipped in March, the fifth monthly decline in a row. The slowdown comes as factory orders have been growing more slowly.

SECTOR MONITOR: Seven of the 10 sectors in the S&P 500 fell, with health care stocks leading the decline. The sector was down 1.2 percent. Energy stocks rose the most. NRG Energy notched the biggest drop among stocks in the S&P 500, falling $1.37, or 5.4 percent, to $23.82.

PUMPING THE BRAKES: Shares in Ford Motor and General Motors fell after the automakers reported a drop in U.S. sales in March. Ford shed 18 cents, or 1.1 percent, to $15.96. GM lost 53 cents, or 1.4 percent, to $36.96.

BAD QUARTER: Supply-chain services company UTI Worldwide slumped 17 percent after the company reported a wider fourth-quarter loss and cut its guidance. The stock fell $2.09 to $10.20.

ASSET PLAY: Sears Holdings climbed 5 percent on news the department store operator entered deal with shopping mall owner General Growth Properties to help extract more value from real estate holdings. Sears gained $2.09 to $43.47.

EUROPEAN MARKETS: European shares rebounded from early losses as a monthly survey showed factory output at a 10-month high in March. Germany's DAX rose 0.2 percent, while France's CAC-40 rose 0.7 percent. Britain's FTSE 100 gained 0.7 percent.

ASIA'S DAY: Markets in Asia were mixed. Japan's Nikkei 225 stock index slipped 0.9 percent, while South Korea's Kospi lost 0.6 percent. Australia's S&P ASX/200 fell 0.5 percent. But Hong Kong's Hang Seng index rose 0.7 percent and the Shanghai Composite Index added 1.7 percent on speculation authorities will do more to ease credit.

ENERGY: Benchmark U.S. crude rose $1.65 to $49.25 a barrel on the New York Mercantile Exchange.

BONDS: U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.87 percent from 1.93 percent late Tuesday.

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Cisneros Media Distribution aims for co-prods, format sales

Miami-based Cisneros Media Distribution (CMD), the content distribution arm of Venezuelan media giant Cisneros Group, is pushing for more co-productions and format sales in the international marketplace. Spearheaded by Marcello Coltro, executive VP of Content Distribution, the new strategy forms part of the company's bid to consolidate its pay TV, content sales and production divisions, said Coltro who joined CMD in October.

Six new productions have been in development since January with some potential partners lined up. Among other titles, CMD will be seeking co-producers at Mip TV for "Vivir a Prueba, a 60-episode police thriller, and "Amores Magicos" a 60-episode series with elements of romance, magic and suspense.

Cisneros owns major studios in Venezuela and Miami as well as a smaller one in Mexico where web series are mainly produced. In Miami, its 114,000-sq. ft. studio, one of the largest privately owned studios in Florida, produces shows for Univision where it has a minority stake, but is open to producing for other clients, said Coltro. Furthermore, its Venezuelan studio boasts the capacity to produce broadcast quality productions and offers competitive pricing, he added.

CMD is also looking to partner with local Brazilian producers and be active in the growth of that market, said Coltro. "Brazil's TV market is worth $19 billion, the largest in Latin America," he said.

Key to the company's further growth is the reformatting of its telenovelas, with the total number of episodes nearly halved to around 100, storylines resolving during the course of the show rather than at the end, shorter scenes, and more social media interactivity. As a prime example of this new format is a comedic telenovela revolving around a chef whose recipes are posted online, with segments on YouTube and other sites. Cisneros is seeking co-producers on the still untitled show, which starts production the third quarter of this year.

Leading its Mip TV line-up of telenovelas, reality series, sports and variety shows are new telenovelas "Amor Secreto" and "Voltea," and 65-episode drug trafficking drama series "Ruta 35, La Valvula de Escape."

© 2015 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC

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Survey: US businesses add 189k jobs in March

WASHINGTON — U.S. businesses slowed their pace of hiring in March, a private survey found. The slowdown raises questions about how much of an impact falling oil prices, a stronger dollar and harsh winter weather have had on dampening economic growth.

Companies added a seasonally adjusted 189,000 jobs last month, payroll processor ADP said Wednesday. That's the first month of gains under 200,000 jobs in 13 months, and it's a decline from 214,000 jobs added in February.

"Job growth took a step back in March," said Mark Zandi, chief economist of Moody's Analytics, which analyzed the survey data.

Falling oil prices would generally lead to greater consumer spending that fosters hiring. But so far, the ADP survey indicates that steady decline to below $50 a barrel — a more than 50 percent decline since June— has led to closed oil rigs, layoffs and fewer orders for pipeline and machinery. That has been coupled with the dollar rising in value against the euro and other currencies, making manufacturers products less competitively priced abroad and crushing multinationals.

The slowdown in hiring was largely concentrated among firms with more than 1,000 employees that would likely have a global footprint.

They added just 12,000 jobs last month, compared to 43,000 in February.

The construction, financial and trade and transportation sectors all reported adding jobs at a slower pace in March than February.

Manufacturers shed 1,000 jobs in March, which likely reflects the twin drags of falling oil prices and a stronger dollar.

The figures come just before Friday's government report, which economists forecast will show an increase of 250,000 jobs.

The ADP numbers cover only private businesses and sometimes diverge from the government's more comprehensive report, which includes government agencies.

Several economists say that the ADP survey can be an unreliable indicator of the government jobs report.

"ADP is far from infallible," said Jim O'Sullivan, chief U.S. economist at High Frequency economics.

Few economists responded to the March setback by changing their yearly forecasts, including Moody's Analytics' Zandi. He still expects consumer spending to rebound and the economy to add jobs at an average monthly pace of 250,000, or 3 million for the year. This would represent a solid improvement in the job market, although it would be less spectacular than the past four months when monthly gains averaged 321, 500 jobs.

A burst of hiring in the past year has lifted the number of Americans earning paychecks. Still, average hourly wages have risen at a sluggish 2 percent pace, possibly making many Americans hesitant to spend their savings from cheaper oil and gasoline.

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Labor group says agreement reached on gas pipeline

BOSTON — A group representing unionized construction workers says it has signed an agreement with the company that plans a $5 billion underground natural gas pipeline through southern New England.

The Massachusetts Building Trade Council announced Wednesday that a Memorandum of Understanding with Kinder Morgan requires the firm to use union labor at all construction sites in Massachusetts. The council said the project will create thousands of jobs.

The proposed pipeline would follow a route from New York into western Massachusetts for 63 miles, then turn north and continue for 70 miles in southern New Hampshire before re-entering Massachusetts and ending in Dracut.

Supporters of the pipeline say it will expand natural gas supplies in the region. Critics say the project could cause environmental harm and slow investment in renewable energy sources.

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US construction spending falls for second month in February

WASHINGTON — U.S. construction spending slipped for the second month in February, pulled down by a drop in single-family home building.

Construction spending fell 0.1 percent in February after a revised 1.7 percent drop in January, the Commerce Department reported Wednesday.

The result in part reflects bitter winter weather that constrained construction in many parts of the country during the month. Economists are hopeful for a rebound in the spring and summer as the economy strengthens.

Last month, the government said that the pace of housing starts plummeted 17 percent in February from January's rate. Home construction slid 56.5 percent in the Northeast and 37 percent in the Midwest, the two regions that endured the brunt of the winter storms.

In Wednesday's report, private spending on construction of single-family homes declined 1.4 percent, while spending on apartments was up 4.1 percent. Nonresidential construction spending rose 0.5 percent, led by a 5.5 percent jump in hotel construction and a 6.8 percent surge in factory construction.

Total private construction spending, which rose 0.2 percent, was offset by a 0.8 percent retreat in public construction spending. State and local governments cut spending by 1.6 percent. They account for more than 90 percent of government spending on construction. The federal government increased construction spending by 9 percent.

Overall construction spending was up 2.1 percent from February 2014.

The economy added 338,000 construction jobs last year, the most since 2005. Still, damage from the collapse of the housing market lingers: The United States has nearly 1.4 million fewer construction jobs than it had in 2006.

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US manufacturing slows as orders and hiring weaken

WASHINGTON — U.S. factories expanded last month at a weaker pace, with orders growing more slowly and hiring essentially flat.

The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its manufacturing index slipped to 51.5 in March from 52.9 in February.

It was the fifth straight drop. Still, any reading above 50 signals expansion.

U.S. manufacturers have faced a drag in recent months from falling oil prices, a rising dollar, winter storms and a since-resolved shutdown of West Coast ports that has created a backlog of shipments.

Some drilling rigs have stopped as oil prices have fallen more than 50 percent since June to below $50 a barrel, curbing demand for pipelines and machinery from factories. Simultaneously, the dollar has risen in value against the euro and other currencies, making American-made goods more expensive abroad and cutting into exports.

Demand for exports has been contracting — rather than expanding — for the past three months, according to the survey.

A "stronger dollar and soft overseas demand are still an obstacle for export-orientated producers," said Paul Ashworth, chief U.S. economist at Capital Economics, who added that the slowdown wasn't "alarming" because non-manufacturing companies still appear to be faring well.

Still, there is the expectation that manufacturing will rebound as the impact of the winter weather and port shutdowns fade. Production improved slightly between February and March, a sign that growth may accelerate in the spring.

"We're well positioned for the distinct possibility of an uptick, an upswing, in momentum as we go forward, not unlike last year when started with a particularly harsh winter," said Bradley Holcomb, chairman of the ISM's manufacturing business survey committee.

One paper products manufacturer said in the survey that business is starting to improve as it's "thawing out of this crazy winter."

Out of 18 manufacturing industries, 10 reported growth and seven reported an outright decline in March. Among the sectors that declined are apparel, textiles, petroleum and coal, electrical equipment, plastics and rubber products and furniture.

"In balance, we're still positive," said Holcomb, adding that "every (sector) gets weighted relative to their contribution" to gross domestic product.

Multiple other reports show that manufacturing has downshifted in recent months.

Orders for long-lasting goods dropped in February, the third decline in four months, the Commerce Department reported last week.

Falling demand for commercial aircraft, autos and machinery caused durable goods orders to drop 1.4 percent in February.

Factory output also tumbled in February, the Federal Reserve reported this month. The 0.2 percent decline was led by drops in the production of autos, machinery, appliances and primary metals such as steel.

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McDonald's revamps grilled chicken to cut ingredients

NEW YORK — McDonald's says it's simplifying its grilled chicken recipe to remove ingredients people might not recognize, marking the latest sign the company is rethinking its menu to keep up with changing tastes.

The company says it expects the new "Artisan Grilled Chicken" to be in its more than 14,300 U.S. stores by the end of next week, in products including a new sandwich, as well as existing sandwiches, wraps and salads.

It says the biggest change is the removal of sodium phosphates, which it said was used to keep the chicken moist, in favor of vegetable starch. The new recipe also does not use maltodextrin, which McDonald's said is generally used as a sugar to increase browning or as a carrier for seasoning.

Jessica Foust, director of culinary innovation at McDonald's, said the changes were made because customers said they want "simple, clean ingredients" they are familiar with.

"Maltodextrin is just not something they have in their pantries," Foust said.

The change comes as McDonald's fights to hold onto customers amid the growing popularity of places like Chipotle that position themselves as more wholesome alternatives to traditional fast-food.

Already, that "clean label" trend has prompted numerous restaurant chains and packaged food makers to reformulate products, even while standing by the safety and quality of their previous recipes. Subway also introduced a new grilled chicken recipe earlier this year that it said had no artificial flavors or preservatives. And Panera Bread has said it plans to purge artificial colors, flavors and preservatives from its food by 2016.

As ingredient quality becomes a more powerful marketing advantage, executives at McDonald's have also been trying to freshen up the company's image and shake perceptions that it serves junk food. TV ads and signs in stores, for instance, are playing up the fact that Egg McMuffins are made with freshly cracked eggs. And last month, McDonald's announced it would start asking suppliers to curb the use of antibiotics in raising chickens.

As for the new grilled chicken recipe, McDonald's said it will now be cooked with a blend of olive oil and canola oil, instead of liquid margarine. And Foust said she thinks customers will notice that it has "more of a lemon herb type flavor."

"It's a very real chicken experience — something closer to what you make in your own home," she said.

Roger Clemens, an adjunct professor of pharmaceutical sciences at the University of Southern California's School of Pharmacy and a former president of the Institute of Food Technologists, said sodium phosphates could be used to help chicken keep its moisture and texture when it's being frozen and shipped.

"If you're going to cook a fresh chicken, it's not a big concern. But if you're going to ship a chicken, there's a change in structure," he said.

Maltodextrin, meanwhile, might be used as a coating on chicken to distribute seasonings evenly, he said.

On its website, McDonald's lists ingredients for its new "Artisan Grilled Chicken" including salt, vegetable starch, sugar, garlic powder, lemon juice concentrate, honey and onion powder. Terri Hickey, a McDonald's representative, said the new chicken will have 12 ingredients, compared with 18 ingredients for the previous grilled chicken recipe.

Mike Andres, who took over as president of McDonald's USA last year amid ongoing sales struggles, had said in December the company was looking at shrinking its ingredients lists.

Whether the new grilled chicken recipe helps change perceptions about the food at McDonald's remains to be seen. The change comes after McDonald's Corp. saw sales and customer visits at established U.S. restaurants slip two years in a row. In January, the company named Steve Easterbrook, its chief brand officer, to take over as CEO for Don Thompson. That change took effect in March, right before a "Turnaround Summit" for U.S. franchisees.

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Follow Candice Choi at www.twitter.com/candicechoi

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