FX Summary - Jan 15
The dollar regained its footing by the New York afternoon following earlier selling against the euro, sterling and yen. A sluggish retail sales report for December was the catalyst for the greenback’s drop to multi-year lows versus
Apple's New MacBook Air: All the Details
Apple Chief Steve Jobs unveiled the company's latest addition to its Mac family on Tuesday with the new MacBook Air Computer, calling it the world's thinnest notebook. Speaking at the Macworld Expo in San Francisco, Jobs confirmed persistent rumors of an ultra-thin and lightweight laptop. The computer has an Intel Corp. processor that is smaller than the chips in other systems, weighs 3 pounds and has 2 Gigabytes of memory, he said.
Oil falls $2 on Slowing Retail, OPEC Comments
Oil prices fell more than $2 a barrel below $92 on Tuesday after the U.S. government reported a decline in retail sales and Saudi Arabia's oil minister said the Organization of Petroleum Exporting Countries could increase output.
Dollar falls on weak retail sales
The dollar extended its declines against the euro and yen on Tuesday after data showed U.S. retail sales for December were below market expectations.
Mum's the Word at Apple's Macworld Opening
Ahead of Apple's CEO Steve Jobs keynote speech at San Francisco's Moscone Convention Center at the 24th annual Macworld convention, speculation on about what the next Apple -gee-wiz product persists. With nearly 50,000 attendees and 390 exhibitors, Macworld is a buzz prior to Steve Jobs' product announcements, from Apple including new gadgets and software for Apple devices. The only possible hint is a banner throughout the convention center with the cryptic line, There'...
Mac Mystery: The Smallest Mac Book Ever?
Apple Chief Executive Steve Jobs takes the stage today at the Macworld Expo in San Francisco where many are expecting him to unveil the company's smallest notebook computer ever.
Clearwire plans to offer Google applications
Wireless service provider Clearwire Corp said on Tuesday that it would offer its customers applications such as e-mail and calendar from Web search leader Google Inc.
GM, Toyota Battle Turns Electric
Toyota Motor Corp on Monday threw down the gauntlet to GM in a race for the next green car.
BlackBerry poised to hit China
TCL Corp 000100.SZ began sending BlackBerry handsets to partner China Mobile in 2007's fourth quarter, suggesting the launch of the popular email device in China is just around the corner.
Citigroup's Record Loss Forces $18 Bln Writedown
Citigroup Inc., the nation's largest bank by assets, reported the company's biggest quarterly loss and slashed dividends on Tuesday as loan defaults in recent quarters forced it to write down the value of subprime-mortgage investments by $18 billion.
Toshiba cuts HD player prices in Blu-ray fight
Consumer electronics maker Toshiba Corp said on Monday it is slashing prices of its HD DVD format players by between 40 to 50 percent as major Hollywood studios move to embrace Sony Corp's Blu-ray format high definition DVDs.
Retailers brace for consumer slowdown in 2008
Dream Big is the theme of the National Retail Federation's annual conference taking place this week and that is likely to be what many U.S. retailers will do to survive 2008 -- dream big of greener pastures.
Copper Rises on Weak Dollar
Copper Futures rose on Monday after the dollar slipped, which also drove investments into other commodities such as gold and oil.
MySpace Tightens Safety Measures
Under growing pressure from law enforcers and parents, MySpace agreed Monday to implement several security measures to protect young users from sexual predators and bullies.
Google, Others, Approved to Bid for Wireless Spectrum
Google, along with a set of other companies, was cleared by federal regulators to bid for a highly desired chunk of wireless spectrum on January 24.
Citigroup to Get $10 bln infusion, $20 bln Write-Down: Report
Citigroup will announce at least a $10 billion injection and a write-down of as much as $20 billion in mortgage-related investments when it announces its fourth quarter earnings tomorrow, the Wall Street Journal reported Monday.
Apple Shares Up More than 3 Pct Ahead of Macworld
Shares of Apple rose more than 3 percent on Monday ahead of eager anticipation for tomorrow's Macworld expo in San Francisco, which will likely bring with it new product announcements that could push the company's outlook even higher than last year's strong effort.
Sprint Set to Lay Off Employees: Report
Sprint Nextel Corp. plans to lay off several thousand employees, according to a media report Monday.
IBM's Strong 4Q Results Boost Tech Sector
International Business Machines Corp. (IBM) posted strong results for its fourth fiscal quarter on Monday, beating analysts expectations on good results from its international divisions and boosting the overall tech sector.
Oil Climbs Over $1 on Crude Supply Fears, Dollar Decline
Crude oil rose over $1 on Monday after the dollar dropped against the euro, and strained relations between the U.S. and Iran raised worries about crude supply.
Gold Hits New Record Above $900, Dollar Falls
Gold futures rose to a new record on Monday, closing above $900 an ounce for the first time following a dip in the dollar, which increased demand for the precious metal as an investment alternative.
Dollar Falls as Investors Await Bank Results, Fed Rate Cut
The dollar fell near its all-time low on Monday on speculation poor results from major U.S. banks this week will prompt the Federal Reserve to cut interest rates.
Netflix Prepares for Apple Rental Attack
Ahead of Macworld Expo tomorrow where Apple, Inc. is anticipated to announce its own movie-rental business, online rental service Netflix Inc. said Monday its subscribers will be able to stream as many movies and television shows as they want online for no additional charge.
Gold hits record above $910
Gold surged to a historic high above $910 an ounce, as investors rushed to buy the metal on further weakness in the dollar and expectations of a sharp cut in U.S. interest rates.
U.S. Stocks Jump on Strong IBM Results
U.S. stocks rallied on Monday after IBM Corp. reported better-than-estimated preliminary fourth quarter earnings, boosting technology shares and pushing the Dow Jones Industrial Average to a gain of more than 100 points. Shares of IBM, the world's biggest computer-services provider, rose the most in five years.
Big Losses Expected at Major U.S. Banks This Week
A pair of the largest U.S. banks are expected to report big losses this week, including write-downs worth tens of billions of dollars due in part to the ongoing global credit crisis, triggered by bad bets in mortgage-related investments.
E-books read well, but readers prefer paper
The number of people subscribing to newspapers may be shrinking as they flock to the Internet, but electronic book readers won't shred the market for ink, paper, glue and binding anytime soon.
Bush stops in Saudi Arabia for talks
Iran, Mideast peace and democracy in the region topped the agenda for President Bush during talks Monday with ally Saudi Arabia. Bush's first visit to the kingdom came as his administration notified Congress of its intent to sell $20 billion in weapons, including precision-guided bombs, to the Saudis. The announcement was timed to coincide with the president's arrival in the Saudi capital.
Apple, China Mobile call off iPhone launch talks
Apple Inc and China Mobile have called off talks to launch the U.S. firm's popular iPhones in China, dashing investor speculation that the device will hit store shelves soon and sending China Mobile shares down.
Bush says Iran threat to world security
U.S. President George W. Bush accused Iran on Sunday of threatening security around the world by backing militants and urged his Gulf Arab allies to confront this danger before it is too late.