January 15, 2011 in Business



News Corp. delays iPad paper launch

NEW YORK – News Corp. is pushing back the launch of the world’s first iPad-only newspaper.

The company declined to comment on why. But a person familiar with the matter, who spoke on condition of anonymity because the person was not authorized to disclose details, said Friday that News Corp. and iPad maker Apple Inc. have decided to delay the launch while they work on the technology involved in providing subscriptions.

This person said the holdup will be weeks and not months.

A formal announcement about the new publication, called The Daily, had been slated for Wednesday. News Corp. Chairman Rupert Murdoch and Apple CEO Steve Jobs were scheduled to attend a launch event at the San Francisco Museum of Modern Art.

Associated Press

Jobless benefits applications rose

WASHINGTON – More people applied for unemployment benefits last week after retailers shed temporary holiday employees.

The Labor Department says the number of people seeking benefits jumped by 35,000 to a seasonally adjusted 445,000 for the week ending Jan. 8. It was the highest level since late October.

The increase comes after applications had fallen to their lowest levels in two years over the winter holidays. Applications usually rise in early January once the holiday season ends.

Fewer than 425,000 people applying for jobless benefits is consistent with modest job growth. The number of people seeking benefits has fallen steeply since reaching 651,000 in March 2009. Still, economists say applications will have to fall to 375,000 or below to signal a sustained decline in the unemployment rate.

Associated Press

Industrial output up in December

Activity at the nation’s factories, mines and utilities rose 0.8 percent in December, the largest increase in five months. Industrial production increased every month last year except for one.

Good momentum: Rising production at industrial companies gives the economy solid momentum heading into the new year. Economists predict the economy will grow more strongly this year and that companies will slowly boost hiring.

Stronger demand: Americans are spending more, and people in other countries are buying more U.S.-made goods shipped overseas. That’s boosting factory production.

Associated Press

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