Are Steve Jobs' iPhone 4 antenna woes over, or did he ignite a new PR crisis while trying to douse an old one? On Friday, Jobs announced during a hastily-called news conference that Apple would provide free protective cases, or full refunds, to unsatisfied iPhone 4 owners. He hoped that would defuse the criticism that Apple had ignored complaints about problems affecting the smartphone's antenna reception. But Jobs woke up on Monday to a renewed chorus of criticism for claiming that competing smartphones also are given to similar reception glitches. Over the weekend, both Research in Motion and Nokia disputed Jobs' contention, saying that their products do not suffer from similar antenna and signal reception issues. And On Monday, executives from HTC and Samsung similarly rejected Jobs' claim. (While Jobs did not mention Motorola by name, the company's co-CEO also said his company's devices don't encounter the same antenna problems.) Post-mortems on Jobs' presentation also took note … [Read more...] about CBS News Logo Are Steve Jobs’ iPhone 4 Antenna Woes Over?
NEW YORK - A strong start to the year from Best Buy (BBY) was overshadowed by a lengthening string of declining quarterly sales and a pessimistic outlook that added to a chorus of woes from the retail sector. The chain's shares dropped nearly 4 percent before the market opened Tuesday. Last week, Target Corp. reported slowing quarterly sales and said that it could see more of the same in the current quarter. That would reverse almost two straight years of increases. Others are seeing the same atrophying sales. Before Target, Macy's Inc., J.C. Penney Co., Nordstrom Inc. and Kohl's Corp. all posted first-quarter sales declines as pressure increases from off-priced stores like T.J. Maxx and also online competition, namely Amazon.com. For the three months ended April, the consumer electronics retailer earned $229 million, or 70 cents per share. A year earlier the Richfield, Minnesota, company earned $129 million, or 36 cents per share. Earnings, adjusted for one-time gains and costs, came … [Read more...] about Best Buy adds to chorus of woes in retail
When the Olympic torch is lit in Rio de Janeiro in August, many Brazilians won't feel like celebrating, given the country's ongoing recession and a corruption scandal that has led to the impeachment of President Dilma Roussef. On top of those woes, there is the Zika virus outbreak, long-neglected pollution problems and a crime wave in Rio. Indeed, arguably no host city in modern Olympic history has faced greater challenges in staging the world's large sporting event. And while Brazil's sports minister recently was quoted saying that the 350,000 visitors expected to travel to Latin America's largest country to attend the games "will have a great experience," skeptics abound. "It's a real irony. In most instances, countries really host these kinds of events at a moment at which they're trying to point to the accomplishments that they have achieved," said James P. Moore Jr., director of the business, society and public policy initiative at Georgetown's McDonough School of Business. Brazil … [Read more...] about Brazil’s woes reach Olympian proportions
The political fortunes of President Donald Trump and the stock market are inextricably linked. And, clearly, both are currently experiencing setbacks as the catalyst for the post-election rally to record highs -- a market-friendly legislative agenda including tax cuts, deregulation and infrastructure spending -- come under threat. Stocks were hit with their largest decline since last September as the Trump administration battles a deepening crisis involving alleged ties between his campaign and Russia and Mr. Trump's decision to fire FBI director James Comey. The U.S. Justice Department on Wednesday named former FBI chief Robert Mueller to look into the matter. Reuters reports that the Trump's campaign had at least 18 undisclosed contacts with Russia. As the president's woes deepen, so too does the threat to Wall Street, with bank stocks in particular looking vulnerable. There is some irony in all this. Before November, the conventional wisdom up and down the Street was that a … [Read more...] about As Trump’s woes deepen, Wall Street pulls in its horns
Programming note: I'll be hosting a live chat today at noon, so please stop by with your questions. This will probably go down as The Year of the Injury for the Twins, but they certainly aren't alone. Dan Szymborski posted some research on ESPN.com (requires insider access), that shows how many days each team's players have spent on the disabled list. Believe it or not, the Twins actually rank in the middle of the pack. Here's a look at the MLB rankings for DL Days missed, according to Szymborski's research: 1. Texas -- 652 Of course, it's one thing for the Twins to lose Joe Mauer to the DL and another for the Brewers to lose Jonathan Lucroy. (Point being DL Days missed isn't an apples-to-apples comparison). Szymborski, who writes for Baseball Think Factory, uses a formula called ZIPS-projected WARP to analyze how many wins each team would have if they were healthy. Szymborski estimates that the Twins would have five more wins, while the White Sox would have four fewer wins if you … [Read more...] about Comparing the Twins’ injury woes with the rest of MLB