Briefcase

Apple iPhone 4S sales off to roaring start

LOS ANGELES – Apple fans camped out overnight and queued up for hours to snag the iPhone 4S, which went on sale in brick-and-mortar stores slightly more than a week after the death of company co-founder Steve Jobs.

The latest iPhone model, which rolled out in seven countries, is poised to outstrip last year’s launch of the iPhone 4, which sold more than 1.7 million handsets in its first weekend.

The sales are being bolstered in part by Sprint, which became the third carrier to offer the iPhone.

Los Angeles Times

Consumer spending jumped in September

WASHINGTON – Higher purchases of autos, clothing and furniture in September fueled the biggest increase in U.S. retail sales in seven months, government data showed Friday.

Retail sales rose a seasonally adjusted 1.1 percent last month, the Commerce Department said.

Economists surveyed by MarketWatch expected an increase of 0.8 percent.

In a separate report, the Labor Department said U.S. import prices rose in September instead of falling as expected. And the price of imported consumer goods rose for the fourth straight month.

MarketWatch

Microsoft closes purchase of Skype

SEATTLE – Microsoft Corp. and Skype announced Friday that the software giant’s acquisition of the Internet phone company has closed.

Skype now becomes a new business division within Microsoft. Skype CEO Tony Bates assumes the title of president of the Skype Division, and will report directly to Microsoft CEO Steve Ballmer.

The release did not specify whether the current Internet voice and video-calling features that Skype offers for free will continue to be free. It also did not specify how Skype will continue to work on non-Microsoft platforms.

Seattle Times

Hulu owners withdraw video site from market

LOS ANGELES – The owners of Hulu have taken the pioneering online video site off the market after hoping to fetch $2 billion.

News Corp., the Walt Disney Co. and Providence Equity Partners issued a statement Thursday, saying they saw more value in retaining the popular 3-year-old service than in selling it off.

“Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu,” the owners said.

The free, ad-supported version of Hulu attracts more than 26 million visitors a month, according to measurement firm ComScore. This summer, the paid Hulu Plus service hit a milestone of 1 million subscribers and is now available on 120 million devices.

Los Angeles Times