On the way: President Barack Obama is expected to announce an executive order directing the government and companies to share more information about cybersecurity threats in response to attacks like that on Sony Entertainment, Reuters reports. The announcement could come as early as tonight or Friday, when Obama speaks at a daylong conference on cybersecurity at Stanford University in the heart of Silicon Valley, according to three participants in the conference. Read the full story.
The big deal: Expedia is buying rival online travel site Orbitz for roughly $1.33 billion, adding to the stable of brands it has snapped up recently in order to extend its reach and keep pace in the fiercely competitive travel-booking industry. The Associated Press reports Expedia’s acquisition of Orbitz is its second major deal in the past month as the industry continues to consolidate. Expedia announced the $280 million acquisition of another rival, Travelocity, in late January. It also follows the company’s July announcement that it was buying Wotif.com for $658 million. Read the full story.
Sluggish sales: Retail sales fell sharply in January on lower gasoline prices and a drop-off in auto sales. Sales declined 0.8% after sliding 0.9% the previous month, substantially more than the 0.4% economists expected, the Commerce Department says in a report released today. Excluding volatile autos, sales fell 0.9%. Economists expected a 0.5% decrease. “Core” sales, which exclude autos and gasoline, rose 0.2%. Economists expected a 0.4% increase. Gasoline prices are down about 40% since June, leaving consumers a windfall that has helped support consumer spending despite sluggish wage growth. Still, several recent surveys have shown Americans are banking a surprisingly large share of their pump savings or using it to pay down debt. USA Today has the full story.
