CNN Money: Top business headlines for Jan. 14

    7:01 AM, Jan 14, 2014   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Tuesday, January 14.

    Bonanza Creek to spend $80M in South Arkansas
    Bonanza Creek of Denver announced last week that it would invest $80 million through 2014 to drill around 50 natural gas wells in south Arkansas. According to a release, the wells will be drilled in the McKamie Patton and Dorcheat-Macedonia fields, which are located in Columbia and Lafayette counties. Infrastructure projects and saltwater disposal wells will account for an additional $4.5 million of planned capital. "Favorable results from testing multiple horizons and extended reach laterals in Wattenberg and five-acre spacing in Arkansas have been incorporated into the 2014 capital program," CEO Michael Starzer said in a release. "Bonanza Creek is well positioned to execute the next phase of development demonstrating the company's high growth and value creation trajectory for our owners."

    Snapchat: Sorry for snap spam
    Snapchat has issued another mea culpa to users of the popular messaging service. Venice Beach, Calif.-based Snapchat on Monday said it had received complaints over the weekend of a jump in Snap Spam on its service, which allows people to send disappearing photo and video messages. "We want to apologize for any unwanted Snaps and let you know our team is working on resolving the issue," said Snapchat in a company blog post. Last week, Snapchat issued updates to its service to address privacy concerns and apologized for a recent data breach. Snapchat's app had a known vulnerability that allowed hackers to obtain a reported 4.6 million user names and phone numbers, posted to an online database. Hackers had discovered a privacy hole in its Find Friends feature, which allows people to upload contact lists to Snapchat, including phone numbers.

    Disney CEO Iger: Frozen has restored our mojo
    When Walt Disney CEO and Chairman Bob Iger showed up at the premiere of film Frozen on Nov. 27, he was already sure that the animated musical about two sisters was something special, a return to the magical essence that made Disney, well, Disney. By the time he got to the credits, he had choked up. "I was glad I was wearing [3-D] glasses," he says. "It was my proudest moment as the CEO of the Walt Disney Company." Frozen is melting Iger's heart not just because of the cold, hard, cash it's generating -- it has grossed $669 million so far, and it hasn't even opened in China or Japan -- but also because the success of the film, the third in a row for the studio after years of disappointment, appears to show that Disney Animation Studios is finally, finally back in the groove. "I realized, 'My goodness, Disney Animation is where it rightfully belongs,'" he says. "The exhilaration was profound. It's not about the bottom line. The bottom line is for the quarter. This is for something bigger and longer."

    Holy hog! Harley-Davidson donated by Pope Francis
    A Harley-Davidson motorcycle given to Pope Francis is expected to fetch more than $20,000 for charity when it goes on auction in Paris next month, according to a report. The 2013 Dyna Super Glide that given to Francis by the motorcycle manufacturer last June to mark its 110-year anniversary will pull in about €15,000, or about $25,000, when it goes on auction in Paris on Feb. 2, the Independent reported. Bonhams auction house said it will sell the holy hog at the Grand Palais as part of its Les Grandes Marques du Monde sale. The 77-year-old pope showed no interest in ever riding the 1,585cc machine and quickly donated it to the Roman Catholic charity Caritas Roma, which gave it to Bonhams to sell.



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