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[January 08, 2013]
AP Business NewsBrief at 6:06 p.m. EST
(Associated Press Via Acquire Media NewsEdge) Dish Network makes $5.15B bid for ClearwireNEW YORK (AP) _ Wireless network operator Clearwire, which agreed to sell itself to Sprint in December, says satellite TV provider Dish Network Corp. is offering to buy the company for $3.30 per share, or $5.15 billion. Clearwire Corp. says it will discuss the unsolicited offer with Dish. Under the deal, Dish Network would buy about 24 percent of Clearwire's spectrum assets for $2.2 billion, and Clearwire would build and manage a wireless network for Dish. Dish would also provide up to $800 million in additional financing to the struggling Clearwire.
AMR board to study merger optionDALLAS (AP) _ Directors of American Airlines' parent company likely won't make a decision when they meet Wednesday to consider a possible merger with US Airways, even as momentum for a deal is building. Investors have been bidding up US Airways' stock price, and leaders of the two pilot unions agree on how to combine contracts, two developments that analysts say strengthen the case for a tie-up.
Alcoa earnings as expected, revenue tops forecastsNEW YORK (AP) _ Alcoa Inc. said Tuesday that fourth-quarter earnings met Wall Street's expectations, and it sees slightly higher demand for aluminum this year. Net income was $242 million, or 21 cents per share. That includes one-time gains like income from selling a hydroelectric project.
US stocks fall ahead of earnings season kickoffU.S. stocks closed lower Tuesday as traders awaited the start of the corporate earnings season. The Dow Jones industrial average dropped 55.44 points, or 0.4 percent, to 13,328.85. The Standard & Poor's 500 index fell 4.74, or 0.3 percent, to 1,457.15. The Nasdaq composite index shed 7.01, or 0.2 percent, to 3,091.81.
US consumer debt rises on more car, school loansWASHINGTON (AP) _ U.S. consumers took on more debt in November to buy cars and attend school, but stayed cautious with their credit cards. The Federal Reserve said Tuesday that consumers increased their borrowing in November by $16 billion from October to a seasonally adjusted record of $2.77 trillion.
Target unveils year-round online price matchNEW YORK (AP) _ Target Corp. is pledging to match prices of select online rivals year-round, a move that underscores how physical and online retailing are being meshed together. Matching online prices is rare but expected to become more common as shoppers move increasingly online. Target, the nation's second largest discounter behind Wal-Mart Stores Inc., said it will match prices that customers find on identical products at top online retailers, all the time. The online list includes Amazon.com as well as the websites of Wal-Mart, Best Buy, Toys R Us and Babies R Us.
Smart TVs get smarter, by just a little bitLAS VEGAS (AP) _ In the not-so-distant future, couch potatoes will be waving, pointing, swiping and tapping to make their TVs react, kind of like what Tom Cruise did in the 2002 movie "Minority Report." That's the vision of TV manufacturers as they show off "smart TVs" at the International CES in Las Vegas. The sets will recognize who's watching and will try to guess what viewers want to see. They'll respond to more natural speech and will connect with your smartphone in a single touch.
TV-over-Internet service expands despite lawsuitsNEW YORK (AP) _ The Barry Diller-backed Internet company that challenged cable and satellite TV services by offering inexpensive live television online plans to expand beyond New York City this spring. In the wake of a federal court ruling that tentatively endorsed its legality, Aereo will bring its $8-a-month service to Boston, Chicago, Philadelphia, Washington and 18 other markets in the U.S., as well as to New York's suburbs. For the past year, the service had been limited to New York City residents as the company fine-tuned its technology and awaited guidance on whether its unlicensed use of free, over-the-air broadcasts amounted to a copyright violation.
Google exec gets look at NKoreans using InternetPYONGYANG, North Korea (AP) _ Students at North Korea's premier university showed Google's executive chairman Tuesday how they look for information online: they Google it. But surfing the Internet that way is the privilege of only a very few in North Korea, whose authoritarian government imposes strict limits on access to the World Wide Web.
Lampert faces tough road as Sears CEONEW YORK (AP) _ Shares of Sears Holdings Corp. fell Tuesday, a day after the retailer announced that chairman and hedge fund billionaire Edward Lampert will take over the role of CEO. The investor queasiness came even as the Hoffman Estates, Ill.-based company offered an update on holiday sales that showed some improvements at its Sears stores. Overall, the company still faces a long, uphill battle to turn itself around.
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