Tuesday, January 06, 2009 - Posts

Tuesday, January 06, 2009 12:56 PM

Apple's Jobs has hormone imbalance, will stay CEO

Apple Inc. founder Steve Jobs, a survivor of pancreatic cancer whose gaunt appearance in the past year has alarmed the Mac and iPod lovers who look to him as an oracle, said Monday he has an easily treated hormone imbalance and will remain in charge of the company.

The news sent Apple stock up more than 4 percent on a down day for much of the market. But Jobs did not say whether the problem was related to the cancer.

At Apple, Jobs has presided over a decade of huge success. His mix of secrecy and high-design principles, seen in the rollouts of new Mac computers, the iPod music player and the iPhone, has become a trademark. [AP]

posted by isnaini (Comments Off)
Tuesday, January 06, 2009 12:44 PM

Chrysler sales drop 53 pct; others not much better

Chrysler LLC's December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008, dwarfing the steep declines at the other major automakers as consumers remained uncertain about the economy and their jobs.

Chrysler said Monday its December sales dropped 53 percent because of the recession and fewer fleet sales, while Toyota Motor Corp. reported a 37 percent slide and Honda Motor Co. said its sales tumbled 35 percent.

Ford Motor Co.'s U.S. sales fell 32 percent in December. General Motors Corp. and Nissan Motor Co. both posted 31 percent declines. [AP]

posted by isnaini (Comments Off)
Tuesday, January 06, 2009 12:41 PM

Construction spending shows gains but outlook grim

Construction spending fell less than expected in November as record activity on nonresidential projects helped offset another steep decline in housing. But the outlook remains bleak as credit is tight for builders trying to stay afloat amid a recession entering its second year.

Construction spending fell 0.6 percent in November, the Commerce Department reported Monday, less than half of the 1.3 percent decline economists had expected.

While housing took another sharp tumble, dropping 4.2 percent, this was partially offset by a surprisingly strong 0.7 percent rise in nonresidential activity.

But the pickup in nonresidential construction -- which includes office buildings, shopping centers and hotels -- was seen as a temporary blip.[AP]

posted by isnaini (Comments Off)