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[January 08, 2013]
AP Business NewsBrief at 9:13 p.m. EST
(Associated Press Via Acquire Media NewsEdge) AIG board weighing joining suit against USNEW YORK (AP) _ American International Group Inc. said Tuesday its board of directors will weigh whether to take part in a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the insurer. If AIG decides to join the complaint, which seeks $25 billion in damages, it would pit the company against the government that rescued it in 2008 from collapsing under the weight of huge losses on mortgage-backed securities and other toxic assets Dish Network makes $5.15B bid for ClearwireNEW YORK (AP) _ Satellite TV provider Dish Network is offering to buy wireless network operator Clearwire _ which agreed to sell itself to Sprint in December _ for $3.30 per share, or $5.15 billion. Clearwire Corp. said it will discuss the unsolicited offer with Dish. However Sprint, which owns 51 percent of Clearwire, said it would have to sign off on Dish's offer and that it does not intend to do so.
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. on Tuesday reported fourth-quarter earnings that met Wall Street's expectations, and the company said it expects slightly higher demand for aluminum this year. The sluggish global economy has weakened prices for aluminum used in everything from airplanes to soda cans.
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.
AP Exclusive: Richardson pressing NKorean test banPYONGYANG, North Korea (AP) _ Former New Mexico Gov. Bill Richardson said Wednesday that his delegation is pressing North Korea to put a moratorium on missile launches and nuclear tests and to allow more cell phones and an open Internet for its citizens. Richardson told The Associated Press in an exclusive interview in Pyongyang that the group is also asking for fair and humane treatment for an American citizen detained in North Korea.
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." 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.
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