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Berkshire Hathaway offers to buy ResCap unit

June 12, 2012 4:50 am | by The Associated Press | News | Comments

Warren Buffett's Berkshire Hathaway Inc. is offering to buy the mortgage division and loan portfolio of Residential Capital LLC.Residential Capital, also known as ResCap, is a subsidiary of Ally Financial Inc., the former auto lending arm of General Motors. ResCap filed for bankruptcy...

Verizon to Ditch Phone Plans, Go with Shared Plans

June 12, 2012 4:50 am | by PETER SVENSSON, AP Technology Writer | News | Comments

Verizon Wireless, the largest U.S. cellphone company, is dropping nearly all of its phone plans in favor of pricing schemes that allow consumers to share data usage among up to 10 phones and other devices.It's the biggest revamp in wireless pricing in years, and one that's likely to be copied...

Factory Raids Reveal Child Labor Persists in India

June 12, 2012 3:50 am | by KATY DAIGLE, Associated Press | News | Comments

Police raids on factories in the Indian capital have found children hard at work despite laws against child labor.Police rounded up 26 children Tuesday from three textiles factories and one that manufactures chemicals. Five men were arrested on charges of employing the children.The kids were...


Airlines, ticket firms battle over booking system

June 12, 2012 3:50 am | by JOE McDONALD - AP Business Writers - Associated Press | News | Comments

A guaranteed aisle seat, special meals, access to the VIP lounge — and tickets to a musical?Airlines want to raise new revenues by selling such extras alongside tickets and are locked in a battle with three companies that dominate the bookings industry over the introduction of a new global...

TomTom shares surge on Apple deal

June 12, 2012 2:50 am | by The Associated Press | News | Comments

Shares in Dutch navigation device maker TomTom NV have surged on news that the company will supply map data to Apple Inc.They rose 12 percent to €3.653 ($4.56) in Amsterdam on Tuesday. TomTom said it struck a deal to supply the U.S. hardware giant with "maps and related information" and it...

New Internet Suffix Bids Include '.lol,' 'bank.'

June 11, 2012 11:50 pm | by ANICK JESDANUN - AP Technology Writer - Associated Press | News | Comments

If Google has its way, you won't need "" to do your searches. You can simply go to ".Google."New York City wants Internet addresses ending in ".nyc," while several companies and groups are looking to create ".doctor," ''.music" and ".bank." Google Inc. is also seeking ".YouTube" and...

Facebook Slowdown Hits Zynga Shares Hard

June 11, 2012 6:50 pm | by The Associated Press | News | Comments

Shares of social game maker Zynga Inc. took a beating again Monday after a report said that Facebook's growth appears to be slowing, especially in the U.S. Zynga gets most of its revenue from games played on Facebook.THE SPARK: The Wall Street Journal said unique U.S. visitors to Facebook rose...

NetJets to spend up to $9.6B on new planes

June 11, 2012 4:50 pm | by The Associated Press | News | Comments

NetJets, which sells partial ownership interests in business jets, said Monday that it plans to spend up to $9.6 billion on as many as 425 new planes from Cessna and Bombardier.CEO Jordan Hansell said the orders reflect that NetJets, which is owned by Warren Buffett's Berkshire Hathaway Inc.,...


Baldwin: Used celebrity to market oil cleaners

June 11, 2012 4:50 pm | by MICHAEL KUNZELMAN - Associated Press - Associated Press | News | Comments

Stephen Baldwin testified Monday that no one asked him to invest any capital or join Kevin Costner in lobbying BP to use oil cleanup devices that the two actors were touting in the aftermath of the 2010 spill in the Gulf of Mexico.But Baldwin said he used his celebrity to market and promote the...

Facebook stock down slightly

June 11, 2012 3:50 pm | by The Associated Press | News | Comments

Facebook's stock is down again despite a boost after Apple announced tighter integration with the social network on new mobile devices and Mac computers.Shares of Facebook Inc. lost 10 cents, or 0.4 percent, to close at $27 on Monday.The stock is down about 29 percent from its initial public...

Big US insurers to keep parts of health care law

June 11, 2012 3:50 pm | by TOM MURPHY - AP Business Writer - Associated Press | News | Comments

Some of the nation's biggest health insurers will keep some popular parts of President Barack Obama's health care overhaul even if the law fails to survive Supreme Court scrutiny.UnitedHealth Group, Humana and Aetna all said Monday that they will continue to cover preventive care such as...

Greenlight Capital buys stake in Seagate

June 11, 2012 2:50 pm | by The Associated Press | News | Comments

Seagate Technology PLC's shares rose more than 2 percent after hours on Monday after a regulatory filing showed that investor David Einhorn, through his firm Greenlight Capital Inc., increased his stake in the hard-disk drive maker.Greenlight now owns 23.1 million shares, or 5.4 percent of...

New Apple Mobile Software Gets Maps, Siri Updates

June 11, 2012 2:50 pm | by MICHAEL LIEDTKE - AP Technology Writer - Associated Press | News | Comments

Most of Apple's mobile devices will get a new operating system this fall, including a different mapping service and a built-in bond with Facebook.The company says its iOS 6 software will sport more than 200 new features, though some won't be available on all devices. It will be a free upgrade...

J & J gets FTC clearance to buy Synthes

June 11, 2012 2:50 pm | by The Associated Press | News | Comments

Johnson & Johnson will have to sell its system for surgically treating serious wrist fractures to win federal clearance of its pending $21.3 billion acquisition of Synthes Inc.The New Brunswick, N.J., health care giant agreed to buy the Swiss orthopedic device maker last year in its biggest...

Juniper Networks to repurchase up to $1B in stock

June 11, 2012 1:50 pm | by The Associated Press | News | Comments

Data network equipment maker Juniper Networks Inc. announced Monday that it may buy back up to $1 billion of its own stock.The company, based in Sunnyvale, Calif., said this repurchase authorization is in addition to an existing $1 billion stock repurchase program approved in 2010. There is...


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