Originally published on Mon March 25, 2013 2:06 pm
Goldman Sachs on Monday downgraded BlackBerry after a disappointing launch for the company's new smartphone, the Z10.
The Wall Street Journal reports that Goldman slashed its investment rating on the Canada-based company — formerly known as Research in Motion, or RIM — to neutral from buy, citing weak support for the new product.
Originally published on Mon March 25, 2013 10:33 am
Illustrations produced by an Indian ad agency showing scantily clad cartoon women bound, gagged and stuffed into the hatch of a Ford Figo have led both the car company and the ad agency's parent to issue apologies.
The images, according to FirstPost.Business, were "scam ads — ads that are created not to sell products and services, but to win awards at awards shows such as the Abby or at Cannes."
From 'Morning Edition': Soraya Sarhaddi Nelson reports
The deal we posted about Sunday evening — a $13 billion bailout by international creditors for the beleaguered banking system on Cyprus — is being met with skepticism on that Mediterranean island nation.
It's MORNING EDITION, from NPR News. I'm Renee Montagne.
DAVID GREENE, HOST:
And I'm David Greene.
The tiny Mediterranean island of Cyprus was on the brink of bankruptcy. But at the last minute, European finance ministers approved a multibillion-dollar bailout for the country. The deal will keep the island's banking system from collapsing, but the country is far from out of the woods.
NPR's Soraya Sarhaddi Nelson begins our coverage from Berlin.
Well, Passover begins tonight at sundown. Observant Jews will commemorate the mass exodus from Egypt and for the next eight days eat matzo, the dry flat cracker known as much for its bland taste as its symbolism. It's also fueled the entrepreneurial spirit of an Atlanta couple.
Susan Mittleman sampled their business venture, a venture that mixes matzo with granola.
SUSAN MITTLEMAN, BYLINE: Wayne Silverman has made maple-nut matzo granola in his kitchen for more than 40 years.
Cyprus has secured a $13 billion package of rescue loans in tense, last-ditch negotiations. Some in Cyprus question whether the European Union wanted Cyprus' recently discovered natural gas reserves or big bank deposits to go to German banks.
And our last word in business today is: highly illogical, captain.
Congress has rebuked the IRS for spending tens of thousands of dollars to film a "Star Trek" parody video.
(SOUNDBITE OF IRS VIDEO)
UNIDENTIFIED MAN: These are the voyagers of the Starship Enterprise Y. Its never-ending mission is to seek out new tax forms, to explore strange new regulations, to boldly go where no government employee has gone before.
RENEE MONTAGNE, HOST:
The video stars IRS workers and was shown at a conference in 2010.
NPR's business news starts with Apple doing some shopping.
Apple has been trying to go head-to-head with Google to provide better mapping services. Apple's latest effort to do that has a price tag of $20 million. That's how much it paid for a small startup company called WiFiSLAM, which maps indoor settings. Think shopping malls and airports. Apple confirmed the purchase to The Wall Street Journal, but wouldn't discuss its plans. Transcript provided by NPR, Copyright NPR.
Both housing and the stock market have been on the upswing in recent months. But a full recovery in the housing market would be more significant to the overall economy. That's because more Americans have something at stake in home values than in stock prices.
Despite the enormous destruction Hurricane Sandy caused to the Jersey Shore, realtors who specialize in the region say business has been steady. Plenty of home buyers and investors appear eager to jump into the market. Damaged homes and lots have been selling for discounted rates, while prices are inching up on houses that survived since there are simply fewer properties available.
In the New York City prison system, the outlook for juvenile offenders is bleak. They're falling through the cracks, being arrested repeatedly, and being re-released onto the same streets only to be picked up again.
The criminal justice system is failing these 16- and 17-year-olds, says Dora Schriro, the commissioners of the city's Department of Corrections.
Pittsburgh fans try to distract Wichita State's Ron Baker as he shoots a free throw during a second-round game in the NCAA college basketball tournament in Salt Lake City on Thursday. The distractions of the tournament are so great that worker productivity suffers.