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AP Business NewsBrief at 12:28 p.m. EDT(Associated Press Via Acquire Media NewsEdge) In nod to IBM, HP overhaul minimizes consumersSAN FRANCISCO (AP) _ Hewlett-Packard's decision to surrender in smartphones and tablet computers and possibly get rid of its personal computer business underscores how Apple has transformed consumer electronics in just four years. HP's new CEO Leo Apotheker is now trying to turn the Silicon Valley stalwart into a twin of East Coast archrival IBM Corp. In doing so, he is acknowledging that his company has failed to balance the demands of both the consumer and corporate markets. As a result, it needs to exit most of its consumer businesses, just as IBM did six years ago. Stocks fluctuate as global markets slideThe stock market went back into a lull Friday as investors waited for the next signals on the economy _ and whether it's headed for another recession. The major indexes were fluctuating in a narrow range after Thursday's 419-point plunge in the Dow Jones industrial average. But that doesn't mean investors are finished selling. There was little economic news Friday to influence trading. Thursday's plunge followed a stream of disappointing economic news that added to the belief in the market that the economy is falling into a recession. Stocks lower but selling pressure easesMILAN (AP) _ Global stocks fell again Friday as fears of a possible U.S. recession combined with ongoing worries over Europe's debt crisis, which is stoking acute fears over the continent's banking sector. However, smaller than anticipated losses on Wall Street helped European markets recoup a large chunk of their earlier losses by the close. Shell says it has closed leaking North Sea valveLONDON (AP) _ Royal Dutch Shell PLC said Friday it has closed a valve from which oil was spilling into the North Sea. The company said this was a "key step" in stopping the leak at its Gannet Alpha platform, the worst North Sea oil spill in more than a decade. Texas-based defense contractor hacked by AnonymousLONDON (AP) _ A Texas-based defense and aerospace firm says one of its top officials has had his email account broken into by the hacking group Anonymous. Vanguard Defense Industries' chief executive Michael Buscher says messages have been stolen from the private Gmail account of Richard T. Garcia, a former FBI agent who now works as the company's senior vice president. Texting, grand theft auto style; alarms pose riskSAN FRANCISCO (AP) _ Texting and driving don't go well together _ though not in the way you might think. Computer hackers can force some cars to unlock their doors and start their engines without a key by sending specially crafted messages to a car's anti-theft system. They can also snoop at where you've been by tapping the car's GPS system. Higher prices: the big trend for back-to-schoolNEW YORK (AP) _ Stores are trying everything they can think of to disguise the fact that you're going to pay more for clothes this fall. Some are using less fabric and calling it the new look. Others are adding cheap stitching and trumpeting it as a redesign. And the buttons on that blouse? Chances are you're not going to think it's worth paying several dollars more for the shirt just to have them. Reports: Bank of America to ax 10,000 or more jobsBank of America Corp. is cutting 3,500 employees this quarter and working on restructuring plans that will ax several thousand more jobs, The Wall Street Journal and The New York Times reported citing people familiar with the situation. The reports Friday said that the job cuts at the biggest U.S. bank by assets might exceed 10,000 or about 3.5 percent of its current work force. Unemployment in July rose in 28 states, fell in 9WASHINGTON (AP) _ Unemployment rates rose in July in more than half the states for the second straight month, evidence that job growth remains weak nationwide. The Labor Department said Friday that unemployment increased in 28 states, fell in nine and remained unchanged in 13. Those are nearly the same figures as in June, when unemployment rose in 28 states, fell in eight and was unchanged in 14. Icahn seeks seat on Clorox boardNEW YORK (AP) _ Billionaire investor Carl Icahn will seek to install himself and 10 other directors on Clorox' board after the consumer products maker twice rejected his offer to buy the company. In a filing with the SEC on Friday Icahn said he will nominate himself and 10 other directors to Clorox' 11-member board. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |