IBT Staff Reporter

SAN FRANCISCO - Apple Inc is famous for relying on low-cost Asian manufacturers to both source and assemble its popular gadgets, but the consumer device giant recently started receiving a critical component in its iPad and iPhones from closer to home - Texas.

Europe's debt crisis threatens to throw a strengthening economy off track, but more monetary accommodation from the U.S. Federal Reserve is not the answer, a top Fed official known for his hawkish views on inflation said on Friday.

Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies' exposure to risky home loans in the run-up to the 2008 financial crisis.

This is fourth in TheWrap's series of studio report cards.

Stocks were little changed in volatile trading on Friday as a warning by Fitch it may cut ratings on some European nations offset gains in growth-related shares.

David Cross wants to see Alvin and the Chipmunks buried 6 feet underground.

On a Thursday night when ratings were down overall, Fox's The X Factor tied a Big Bang Theory repeat and Person of Interest on CBS. CBS took an overall victory, according to preliminary numbers.

Been wondering where you can hock that spare cow you have sitting around? Look no further than the Silver Dollar Pawn & Jewelry Center in Alexandria, La., the setting for the History Channel's spin-off of its most popular series, Pawn Stars.

The Palm Springs International Film Festival, which has already announced awards for a number of contenders deemed likely to land Oscar nominations, has now decided to honor an actor who's been inexplicably passed over by most voters so far.

The American Federation of Television and Radio Artists and the major record labels have reached a tentative agreement on a new, three-year sound recording contract, the union said Thursday.

By revealing the digital tricks behind the blue-skinned Na'vi, Fox is expecting to start seeing lots of green this holiday season.

Beehived Rehab chanteuse Amy Winehouse, who died in July, will be honored with a special tribute on the upcoming VH1 Divas Celebrate Soul.

Emily Post notwithstanding, there's probably no gracious way to projectile vomit in your host's living room. And it says something about the darkly funny antics of Carnage that said puking probably doesn't constitute the most socially awkward moment.

Funeral arrangements have been set for movie marketing pioneer Joseph Farrell and will be private, his publicist said Thursday.

Sorry, fans of inspirational home-renovation stories: Extreme Makeover: Home Edition is coming to an end.

After two wretched weekends at the box office, sequels to Sherlock Holmes, Alvin and the Chipmunks Mission: Impossible are riding in to rescue the domestic movie business.

It's nerve-wracking to act alongside George Clooney -- and he knows it.

Mandate Pictures has optioned The Young, The Hot, And The Bothered, a coming-of-age comedy from 25-year-old writer Leah Rachel, the studio said Thursday.

Cameron International Corp agreed a $250 million settlement with BP to help pay for costs associated with the Gulf of Mexico oil spill, raising hopes that deals between the British oil major and two other contractors could follow.

Fitch Ratings on Friday warned it may downgrade France and six other Eurozone countries as it believes that a comprehensive solution to the region's debt crisis is technically and politically beyond reach.

Gunshots were fired at the Chinese Consulate in Los Angeles on Thursday by a man identified by a security guard as a protester, and police said a suspect had been taken into custody.

Cox Communications, the privately held cable operator, said on Friday it has agreed to sell its advanced wireless spectrum to Verizon Communications in a $315 million deal.

Credit rating agency Fitch told the euro zone on Friday it thinks a comprehensive solution to the bloc's debt crisis is beyond reach, as it put an number of the bloc's economies including Italy on watch for potential downgrades.

Credit rating agency Fitch told the Eurozone on Friday it thinks a comprehensive solution to the bloc's debt crisis is beyond reach, as it put an number of the bloc's economies including Italy on watch for potential downgrades.

Russia won admission to the World Trade Organisation on Friday after 18 years of negotiations, finally gaining full integration into the global economy two decades after the Soviet Union collapsed.

Consumer prices were flat in November as Americans paid less for cars and gasoline, a further sign of a cooldown in inflation that could give the Federal Reserve more room to help a still weak economy.

Stocks extended losses on Friday, with the Dow industrials and the S&P 500 falling into negative territory after Fitch threatened to cut the ratings of several euro zone nations, reigniting worries about the region.

Shares of Cablevision Systems Corp fell more than 15 percent in early trading on Friday as investors sold off on uncertainty surrounding the sudden departure of the New York cable operator's well-regarded chief operating officer.

The methodical dissection in courtrooms across London this week of events at Rupert Murdoch's now-defunct News of the World tabloid has finally destroyed the company's long-held defense about phone-hacking and left son James more isolated than ever.