iPhone 5 Hit with (Another!) Bug
AppleJust when you thought the flap over the new mapping app from Apple Inc. (NASDAQ: AAPL) would be laid to rest, the company has taken another hit to its shining armor over a software…
All Work
Paul Ausick
U.S. Construction Spending Falls in August
The U.S. Census Bureau reported this morning that construction spending in August fell by 0.6% to an estimated seasonally adjusted annual rate of $837.1 billion from a revised estimate of $842 billion. Compared with…
Transocean Gets Reprieve in Brazil
Deepwater drilling company Transocean Ltd. (NYSE: RIG) said yesterday that Brazil’s Superior Court of Justice has granted a request from the country’s oil regulatory body partially to suspend the temporary injunction that would have…
ISM Manufacturing Index Rises in September
The Institute for Supply Management (ISM) reported this morning that its manufacturing survey rose to 51.5% in September, up 1.9% from August’s reading of 49.6%. The rise is the first in four months. A…
Advertising Spending to Rise in 2013
Advertising research firm ZenithOptimedia forecasts 2013 ad spending will grow by 4.6% in 2013, from an estimated $501.54 billion this year to $524.7 billion. Nearly 30% of the growth will come from the United…
U.S. Flash PMI at Three-Year Low
The U.S. Flash Manufacturing purchasing managers index (PMI) for September from Markit Economics is out today, and the reading of 51.1 is the lowest since September 2009. Any number above 50 indicates that the…
Honeywell Acquires Gas Processing Technology Firm
UOP LLC, a wholly-owned subsidiary of Honeywell International Inc. (NYSE: HON), today announced that it is acquiring a 70% stake in Thomas Russell Co., a technology and equipment company in the area of natural…
Nokia Has Mapping Software — Who Knew?
At today’s users’ conference in San Francisco, Oracle Corp. (NASDAQ: ORCL) and Nokia Corp. (NYSE: NOK) will announce a deal under which Oracle will use Nokia mapping, navigation and location technology. Oracle will use…
Xstrata Board OKs Glencore Offer — with Changes
The board of directors of mining company Xstrata has recommended that shareholders accept the most recent offer from commodities trading house Glencore International. The offer includes an exchange of 3.05 shares of Glencore stock…
U.S.-BP Spill Settlement Stalled
Settlement talks are at a standstill between the U.S. government and BP PLC (NYSE: BP) related to the April 2010 Gulf of Mexico disaster that killed 11 workers and dumped 5 million barrels of…
U.K. Still AAA at Fitch
Fitch Ratings today affirmed its AAA ratings on the U.K.’s foreign currency issuer default rating, local currency issuer default rating, and country ceiling. The currency ratings outlooks were maintained as negative. The agency seems…
24/7 Wall St. Closing Bell — September 28, 2012: Markets Sag as Quarter Ends (CAT, MCD, QCOM, APA, PFE, RIMM, NKE, ACN, AM, FINL, WAG, CALM, FGP, SURG, MDRX, ADTN, FB)
The three major U.S. stock indexes opened lower this morning following a weaker-than-expected report on U.S. personal income and inline personal consumption spending (more coverage here). U.S. markets followed Europe, where today’s data releases…
Chinese Yuan at Record High vs. Greenback
The Chinese yuan rose to its highest level against the dollar since the modern currency began trading in 1994. At its high point today, one U.S. dollar could buy 6.2838 yuan. A year ago…
Gold Miners Not Sharing in the Wealth
The price of gold has risen by about $200 an ounce since the end of June and has scored about half that gain since the first of September. The yellow metal is on its…
Walmart Prepares Application to Open Stores in India
That didn’t take long. Two weeks ago the government of India approved legislation that would permit non-Indian majority ownership of multi-brand retail operations. The new legislation has opened the door to foreign investment in…
Tepid September Retail Sales Forecast
Retail sales made a strong comeback in July and August, rising 2.5% and 3.3%, respectively, year-over-year from a very low 0.3% increase in June. According to research firm Retail Metrics, September looks to be…
Facebook, Twitter Finding a Home in China?
The conventional wisdom says that China has no (or very few) users of social media sites like Facebook Inc. (NASDAQ: FB) and Twitter. But that wisdom may be off the mark. Internet research firm…
Dish Network Seeks Internet TV Deals
Satellite TV provider Dish Network Corp. (NASDAQ: DISH) is reportedly in talks with Viacom Inc. (NASDAQ: VIAB), Scripps Networks Interactive Inc. (NYSE: SNI) and Univision to offer some of the networks’ cable channels over…
Apple CEO Admits Map App Is Lousy
AppleIn a letter to customers posted at the company’s website, Apple Inc. (NASDAQ: AAPL) CEO Tim Cook admits what most everyone already knows: At Apple, we strive to make world-class products that deliver the…
Groupon Shakes Up Management — Reuters
In an effort to fix its sagging European business, Groupon Inc. (NASDAQ: GRPN) has named a new head of its European, Middle East and Africa (EMEA) region, according to an exclusive report at Reuters.…