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IBM backs full-year profit forecast

May 13, 2009 2:53 pm | by The Associated Press | News | Comments

NEW YORK (AP) — IBM Corp. is again backing its forecast for profit of $9.20 per share this year.The Armonk, N.Y.-based technology company is standing by its bullish forecast because it says it's making better profit margins in its services and software divisions as it continues to cut costs...

Chinese imports could bring GM political troubles

May 13, 2009 2:43 pm | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

DETROIT (AP) — As thousands of General Motors workers await word on more U.S. plant closures, reports that the company plans to import Chinese-made vehicles to the U.S. have created a political problem for the automaker and the White House.The reports, which GM will neither confirm nor deny, could...

Gates: weapons projects cuts were 'no brainers'

May 13, 2009 2:33 pm | by DONNA BORAK - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — Defense Secretary Robert Gates on Wednesday said his decisions to scrap multibillion-dollar defense projects, like a new White House helicopter, were "no brainers."But some lawmakers expressed concerns over certain planned cuts and about the secrecy surrounding them.Gates told the...

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Bed Bath & Beyond chief earns $8.5M in 2008

May 13, 2009 2:02 pm | by ASHLEY M. HEHER - AP Retail Writer - Associated Press | News | Comments

CHICAGO (AP) — Bed Bath & Beyond Inc. CEO Steven Temares received compensation the company valued at $8.5 million during the past fiscal year, an increase of 32 percent as the company's sales inched up slightly but profit fell and its largest competitor liquidated, according to a regulatory...

Investors jump into Treasurys as retail sales fall

May 13, 2009 1:52 pm | by The Associated Press | News | Comments

NEW YORK (AP) — Unexpected weakness at the nation's retailers fanned concerns about the health of the economy and boosted demand for the safety of government debt Wednesday.Treasury prices jumped as stock market investors worried that the optimism that fed a two-month surge in stocks off of 12-year...

Trustee: Madoff firm was family's piggy bank

May 13, 2009 1:25 pm | by TOM HAYS - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — The credit card bill is a 30-page study in conspicuous consumption.A quick scan shows a restaurant charge of more than $2,800, $2,000 in spending at a Parisian boutique and $441 at a gourmet bagel shop. There was $8,400 for one night at a hotel in Santa Monica and another $5,000 at...

Meltdown 101: How are food prices set?

May 13, 2009 1:05 pm | by EMILY FREDRIX - AP Food Industry Writer - Associated Press | News | Comments

In a sour economy, you can pad your budget by cutting out cable, trips to restaurants and vacations. But you can't cut out food.Americans spend about 12.5 percent of their budgets on food each year, according to the Bureau of Labor Statistics. That means many families' finances are at the mercy of...

Denbury to sell 60 pct of Barnett Shale assets

May 13, 2009 1:00 pm | by The Associated Press | News | Comments

DALLAS (AP) — Oil and gas developer Denbury Resources Inc. said Wednesday it had agreed to sell 60 percent of its Barnett Shale natural gas assets to Talon Oil & Gas LLC for $270 million.Denbury said selling the properties in northern Texas will allow it to focus on its core oil operations, which...

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High-Speed 3G Connectivity

May 13, 2009 12:58 pm | Digi International | Product Releases | Comments

Digi International introduces the Digi Connect WAN 3G IA, a third generation (3G) Wireless WAN router for secure primary and backup connectivity to remote devices in severe environments.  

Retail sales dip raises worries about recovery

May 13, 2009 12:45 pm | by MARTIN CRUTSINGER - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — Retail sales fell in April for a second straight month, dashing hopes that consumer spending was starting to revive and would help end the recession.Economists said families who are worried about layoffs and unpaid job furloughs are saving more and spending less, delaying the...

Whole Foods 2Q profit falls 32 percent

May 13, 2009 12:40 pm | by SARAH SKIDMORE - AP Retail Writer - Associated Press | News | Comments

PORTLAND, Ore. (AP) — Whole Foods Market Inc. said Wednesday that its quarterly profit fell 32 percent as shoppers spent conservatively during the recession, but the results narrowly beat Wall Street expectations.Shares of the organic and natural foods grocer jumped 5.1 percent on the news, rising...

ArcelorMittal laying off nearly 1,000 at Ind. mill

May 13, 2009 12:29 pm | by The Associated Press | News | Comments

EAST CHICAGO, Ind. (AP) — The world's largest steel maker, ArcelorMittal, will indefinitely lay off nearly 1,000 workers at a northwestern Indiana plant this summer as part of a temporary shutdown of the mill's iron-producing operations.Luxembourg-based ArcelorMittal blamed the "extraordinary...

Fixed-Frequency Operation

May 13, 2009 12:29 pm | Lambda Americas | Product Releases | Comments

TDK-Lambda has expanded its range of point-of-load (POL) DC-DC converters with the launch of the iBD series of 7-Amp non-isolated, single- inline-package (SIP), thru-hole mounted devices.

Flex & Dome Types

May 13, 2009 12:18 pm | Interpower Corp. | Product Releases | Comments

Interpower Corporation announces new flex and dome types of metric strain reliefs. 

Conoco CEO: Industry needs to get its message out

May 13, 2009 12:14 pm | by JOHN PORRETTO - AP Energy Writer - Associated Press | News | Comments

HOUSTON (AP) — The U.S. oil and gas industry, facing greater regulation and heavier taxes at home, must do a better job of explaining its vital role in the global economy's future, the chief of the nation's third-largest oil company said Wednesday.Jim Mulva, speaking at ConocoPhillips' annual...

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