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Penney upgrades 1st-qtr outlook on stronger sales

April 22, 2009 11:07 am | by ANNE D'INNOCENZIO - AP Retail Writer - Associated Press | News | Comments

NEW YORK (AP) — J.C. Penney Co. raised its first-quarter earnings outlook Wednesday, saying business is stabilizing, but the department store chain forecast consumer spending will remain weak this year."(Business) is more predictable," Myron "Mike" Ullman III, Penney's chairman and CEO, told Wall...

Continental posts loss, AirTran makes profit in 1Q

April 22, 2009 11:01 am | by DAVID KOENIG - AP Airlines Writer - Associated Press | News | Comments

DALLAS (AP) — Continental Airlines Inc. posted a smaller loss than expected and AirTran reported a profit as falling fuel prices helped offset a sharp downturn in travel during the first quarter.The results at both airlines Wednesday beat Wall Street's expectations, although Continental's stock...

Congress to hold hearing on cable advertising

April 22, 2009 11:01 am | by The Associated Press | News | Comments

PHILADELPHIA (AP) — Cable operators will sit in the hot seat Thursday as Congress reviews their plans to roll out targeted advertising amid fears that consumer privacy could be infringed if the companies were to track and record viewing habits.The House subcommittee on Communications, Technology...

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Chicago Tribune makes latest job cuts

April 22, 2009 10:51 am | by The Associated Press | News | Comments

CHICAGO (AP) — The Chicago Tribune cut 53 jobs on Wednesday as part of a newsroom reorganization designed to help it weather an economic downturn that has forced its parent company to seek Chapter 11 protection from creditors.The latest cuts, announced by Editor Gerould Kern in a staff memo, leave...

Faster Bluetooth chips coming early next year

April 22, 2009 10:41 am | by The Associated Press | News | Comments

NEW YORK (AP) — The next version of the Bluetooth wireless technology is expected to transfer data 10 times faster than the current incarnation. Gadgets using it could be on the market by early next year.The consortium behind the technology, the Bluetooth Special Interest Group, said this week it...

Sources: Pentagon planning new cybercommand

April 22, 2009 10:20 am | by PAULINE JELINEK - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The Pentagon is planning to create a new military command to focus on cyberspace and protect its computer networks from cyberattacks, U.S. officials said Wednesday.The move comes as the White House is poised to release a broader study on the nation's cybersecurity. Officials in...

GM may skip $1B bond payment due to exchange offer

April 22, 2009 10:20 am | by The Associated Press | News | Comments

DETROIT (AP) — General Motors Corp. may miss a $1 billion bond payment due June 1 if it doesn't complete a debt-for-equity exchange by then, the company said Wednesday.The troubled auto giant plans to make the exchange offer soon to bondholders, perhaps as early as next week. GM has $28 billion in...

British singer Bragg blasts EU copyright extension

April 22, 2009 9:55 am | by AOIFE WHITE - AP Business Writer - Associated Press | News | Comments

STRASBOURG, France (AP) — British singer Billy Bragg blasted Wednesday a proposed European Union law to nearly double music copyright to 95 years, saying it would give a huge windfall to major recording labels.The European Parliament will vote Thursday on extending royalties for performers beyond...

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Colorado newspaper starts free '10-minute' edition

April 22, 2009 9:45 am | by The Associated Press | News | Comments

COLORADO SPRINGS, Colo. (AP) — The Gazette newspaper in Colorado Springs hopes to revive advertising sales with new small newspapers meant to be read in about 10 minutes.The newspaper says it will launch several editions of a newspaper called Ink, targeted to different neighborhoods. Executive...

Minnesota man's family sues over his death

April 22, 2009 9:29 am | by The Associated Press | News | Comments

MINNEAPOLIS (AP) — The family of a 78-year-old man whose death may be linked to the widespread peanut butter salmonella outbreak has sued an Ohio company in connection with his death.The family of Clifford Tousignant filed the lawsuit against Kanan Enterprises, owner of the King Nut peanut butter...

Online travel sites may deserve another look

April 22, 2009 9:24 am | by JOSHUA FREED - AP Airlines Writer - Associated Press | News | Comments

MINNEAPOLIS (AP) — Airline booking fees charged by Travelocity, Orbitz and Expedia are on vacation through May. That's giving travelers who had avoided those sites a reason to reconsider.The fees generally run around $7 per transaction — just enough to send many travelers to airline Web sites. But...

Tupperware shares climb after results

April 22, 2009 9:09 am | by The Associated Press | News | Comments

CHICAGO (AP) — Shares of Tupperware Brands Corp. climbed Wednesday, a day after the household products maker posted a better-than-expected first-quarter profit and forecast second-quarter and full-year results above Wall Street estimates.Shares of the Orlando, Fla.-based company rose $3.39, or 15.9...

GE exec says economic crisis resetting capitalism

April 22, 2009 9:09 am | by STEPHEN MANNING - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — The top executive of General Electric Co. said Wednesday he couldn't predict when the recession would end or how bad it will be, but said the global economic crisis has "fundamentally reset" the way companies do business and capitalism itself.Speaking at GE's annual shareholder...

Can Iraqis tweet their way to a state of normalcy?

April 22, 2009 9:04 am | by The Associated Press | News | Comments

BAGHDAD (AP) — "Breakfast time ... Lots of helicopters ... Met the president of Iraq ... Amazing palace."Tweet by tweet, the trip to Baghdad by Jack Dorsey unfolded on the Twitter network he co-founded.One of his stops Wednesday: A discussion at the U.S. Embassy with executives from other Web...

Report: Amazon's $359 Kindle 2 costs $185 to make

April 22, 2009 8:58 am | by The Associated Press | News | Comments

NEW YORK (AP) — If you aren't sure whether Amazon.com Inc.'s latest Kindle electronic reading device is worth its $359 price tag, an analysis by research firm iSuppli may shed some light.It broke down the device's components and determined that the gadget costs about $185 in parts and...

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