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AP Business NewsBrief at 12:51 a.m. EDT
(AP Online Via Acquire Media NewsEdge) GE, Pittsburgh hospital establish imaging businessHARTFORD, Conn. (AP) _ General Electric Co., the international conglomerate with a stake in everything from jet engines to network television, is investing $20 million in technology that will allow doctors to share and transmit images of microscopic human tissue. The partnership with a Pittsburgh hospital marks GE's entrance into a $2 billion market and could help expand its GE Healthcare division.
IBM developing miniature pipes for chip coolingBOSTON (AP) _ Since a computer microprocessor is veined with electric circuitry, it might seem like a bad place to put water. But IBM Corp. researchers believe that sloshing water through hair-thin pipes inside chips will solve a vexing problem facing next-generation computers. That problem is heat.
United slashes staff, planes in cost-cutting moveCHICAGO (AP) _ United Airlines said Wednesday that it's cutting up to 1,100 more jobs, removing an additional 70 fuel-guzzling airplanes from its fleet and slashing domestic capacity as it tries to cope with spiraling fuel prices. The nation's No. 2 carrier said it plans to cut an additional 900 to 1,100 salaried, contract and management employees by the end of the year, in addition to 500 previously announced job reductions. The combined reductions mean the airline is cutting nearly 3 percent of its 55,000 workers worldwide.
Chrysler may be next to announce production cutsDETROIT (AP) _ With truck and sport utility vehicle sales tumbling and its U.S.-based competitors either closing factories or cutting production, Chrysler LLC may be the next automaker to announce further cuts. While workers are anxious and industry analysts say additional measures are inevitable, Chrysler says that moves announced late last year are sufficient for now to deal with the declining U.S. auto market.
Report: Verizon Wireless in talks to buy AlltelNEW YORK (AP) _ Verizon Wireless is in talks to buy Alltel Communications LLC, the country's fifth-largest wireless carrier by subscribers, for $27 billion, according to news reports. If consummated, an acquisition would be the biggest telecom deal since AT&T Inc. bought BellSouth Corp. at the end of 2006. Adding Alltel's 13.2 million subscribers to Verizon Wireless' 67.2 million would create the largest wireless carrier in the country, far ahead of AT&T Inc. with 71.4 million customers.
Paramount Vantage, Paramount combining operationsLOS ANGELES (AP) _ Paramount Pictures said Wednesday it will combine its marketing, distribution and production functions with indie label Paramount Vantage. Rob Moore, vice chairman of Paramount Pictures, said in a statement provided Wednesday that the combination of the two Los Angeles-based units of Viacom Inc. will be more efficient.
Friedman resigns as CEO of HarperCollinsNEW YORK (AP) _ HarperCollins President Brian Murray is taking over the duties of chief executive after Jane Friedman's resignation as CEO. The publishing company says Friedman resigned Wednesday, and Murray's appointment is effective immediately.
Stocks wobble as financials weigh on sentimentNEW YORK (AP) _ Wall Street ended a wobbly session with a mixed performance Wednesday as concerns about the financial sector eroded enthusiasm over a decline in oil prices and a report that signaled modest growth in the service economy. The worries about financial companies flared after Moody's Investors Service warned it might downgrade the ratings on bond insurers Ambac Assurance Corp. and MBIA Insurance Corp.
US air travel options shrink amid carrier strifeCHICAGO (AP) _ First it was soaring ticket prices and vanishing bargain fares, then new baggage fees. Now air travelers are facing dwindling choices for when they can fly and where _ even to such popular tourist destinations as Las Vegas and Orlando. The squeeze, a byproduct of record oil prices that are pushing airlines toward financial disaster, accelerated Wednesday when United Airlines announced plans to take 70 more jets out of service and cut domestic capacity by 17 to 18 percent in 2008-09. Its discount unit Ted will be shut down and 1,100 additional jobs eliminated, with more to follow.
Productivity improves while wage pressures moderateWASHINGTON (AP) _ Worker productivity increased at a faster pace in the first three months of this year than previously estimated, wage pressures moderated and an important measure of business activity showed the service sector skirted recession in May. The Labor Department reported Wednesday that productivity rose at an annual rate of 2.6 percent from January through March. That was faster than the government's first estimate of 2.2 percent a month ago.
Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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