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[January 09, 2013]
AP Business NewsBrief at 10:16 a.m. EST
(Associated Press Via Acquire Media NewsEdge) Stocks open higher for first day in threeStocks are rising on Wall Street after U.S. corporate earnings reports got off to a strong start. The Dow Jones industrial average rose 49 points to 13,378 shortly after the opening bell Wednesday. The Dow is coming off of two days of losses.
AIG board weighs suing US over bailoutNEW YORK (AP) _ AIG is considering Wednesday whether the company should join a lawsuit against the government that spent $182 billion to save it from collapse. American International Group Inc. said 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 New York-based insurer.
Chinese buyer says solar firm MiaSole will expandBEIJING (AP) _ The Chinese company that bought MiaSole, a California producer of thin-film solar panels, says it can make the emerging technology successful where others have suffered huge losses. Hanergy Group's strong finances will help MiaSole invest in research and ride out a downturn in the global solar market, while its links to customers in China and abroad will help build sales, chairman Li Hejun said Wednesday. Hanergy says it is China's biggest privately owned renewable energy company, with interests in hydro, wind and solar power.
Gadget Watch: Electronic fork nags you on eatingLAS VEGAS (AP) _ If you've always wanted a fork that spies on your eating habits, you're in luck: A company has developed a utensil that records when you lift it to the mouth. The electronic fork is one of the gadgets getting attention this week at the International CES in Las Vegas, an annual showcase of the latest TVs, computers and other consumer-electronic devices.
Review: Aereo makes it tempting to cut cable TVNEW YORK (AP) _ Broadcast networks make many of their shows available on the Internet, but you usually have to wait at least a day after an episode airs on television. A subscription service called Aereo breaks those shackles and makes network programs available right away. That sounds too good to be true, and in a sense it is. First, it works only in New York City for now, though Aereo said Tuesday that it will expand to 22 more U.S. cities this spring. Its channel selection is limited to 29 over-the-air channels and Bloomberg TV. It doesn't include the other cable networks I frequently watch.
MGM China gets official OK for 2nd Macau casinoHONG KONG (AP) _ The Chinese arm of U.S. casino company MGM Resorts International won official approval Wednesday for its new Macau casino-resort, putting it a step closer to catching up with rivals in the world's most lucrative gambling market. Notice of MGM China's plan to build a $2.5 billion resort in the Cotai district was published Wednesday in Macau's official government gazette.
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.
UN rings alarm over conditions of domestic workersGENEVA (AP) _ At least 52.6 million people worldwide are employed as domestic workers, most of them women vulnerable to abuse and without adequate legal protection, the U.N. said Wednesday in its first snapshot of the often invisible workforce that cares for other people's families and households. The sum is roughly equivalent to all the workers employed in countries such as Mexico, Nigeria or Vietnam, said the U.N.'s International Labor Organization in Geneva. It completed the survey in conjunction with an international accord for equal treatment between domestic and general workers that will come into force in September.
Business leaders warn UK PM against leaving EULONDON (AP) _ Top U.K. executives warned Prime Minister David Cameron on Wednesday that he could damage Britain's economy by inadvertently taking the country out of the European Union. In a letter published in the Financial Times, Virgin Group's Richard Branson, London Stock Exchange head Chris Gibson-Smith, WPP chief executive Martin Sorrell and seven other business leaders challenged Cameron's plan to renegotiate the U.K.'s membership terms of the 27-country EU and put the matter to a referendum.
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.
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