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General Motors suspending dividend

Wed., July 16, 2008

General Motors Corp. said Tuesday it will lay off salaried workers, cut truck production, suspend its dividend and borrow $2 billion to $3 billion to weather a downturn in the U.S. market.

GM said the moves will raise $15 billion, including $10 billion from internal cost-cutting and $5 billion from selling some assets and borrowing against others.


Intel second-quarter profit jumps 25 percent

Intel Corp.’s second-quarter profit jumped 25 percent as booming sales of laptop chips helped the company cruise past Wall Street’s estimates.

Investors viewed the chip maker’s favorable results as a sign that global PC demand is healthy despite a sputtering U.S. economy. CEO Paul Otellini said demand for Intel’s chips remains strong globally. Three-quarters of Intel’s business is outside the U.S.


YouTube viewer identities private

In a nod to privacy complaints, Viacom Inc. won’t be told the identities of individuals who watch video clips on the popular video-sharing site YouTube.

Viacom and other copyright holders have agreed to let YouTube mask user IDs and Internet addresses when Google Inc.’s online video site hands over viewership records in a $1 billion lawsuit accusing YouTube of enabling copyright infringement.


Apple’s 3G iPhone unlocked already

A Brazilian company said Tuesday it has already found a way to unlock Apple’s new 3G iPhone, freeing users from having to sign up with exclusive carriers. says it is the first company to unlock the phone, which was released last week in 21 countries in North America, Asia, Europe and Oceania.

The iPhone is not expected to be sold in Brazil until later this year.

From wire reports


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