AP Business NewsBrief at 1:47 p.m. EST
(Associated Press Via Acquire Media NewsEdge) US stocks slip ahead of earnings season kickoffU.S. stocks fell Tuesday as traders awaited the start of the corporate earnings season. The Dow Jones industrial average was down 78 points at 13,306 as of 12:40 p.m. Eastern time. The Standard & Poor's 500 index fell nine to 1,453. The Nasdaq composite index fell 20 to 3,078.
Lampert faces tough road as Sears CEONEW YORK (AP) _ Shares of Sears Holdings Corp. fell Tuesday, a day after the retailer announced that chairman and hedge fund billionaire Edward Lampert will take over the role of CEO. The investor queasiness came even as the Hoffman Estates, Ill.-based company offered an update on holiday sales that showed some improvements at its Sears stores. Overall, the company still faces a long, uphill battle to turn itself around.
Gadget Watch: Pen makes old monitors touch-readyLAS VEGAS (AP) _ Many people who have tried Microsoft's new Windows 8 operating system without a touch screen have hated it because of the inability to use touch and swipe commands to get things going. Now, a company has made a digital pen to allow people to use Windows 8 on their old monitors for less than the cost of buying a new touch-enabled computer. The device was unveiled this week at the International CES, an annual showcase in Las Vegas for the latest smartphones, tablet computers and other consumer-electronic devices.
Target unveils year-round online price matchNEW YORK (AP) _ Target Corp. is pledging to match prices of select online rivals year-round, a move that underscores how physical and online retailing are being meshed together. Matching online prices is rare but expected to become more common as shoppers move increasingly online. Target, the nation's second largest discounter behind Wal-Mart Stores Inc., said it will match prices that customers find on identical products at top online retailers, all the time. The online list includes Amazon.com as well as the websites of Wal-Mart, Best Buy, Toys R Us and Babies R Us.
Mass. women at trial: Pregnancy drug caused cancerBOSTON (AP) _ Eli Lilly and Co. failed to test a drug's effect on fetuses before promoting it as a way to prevent miscarriages, a lawyer charged Tuesday in opening statements in a trial over whether four sisters' breast cancer was caused by medication their mother took during pregnancy. A lawyer for Eli Lilly told the jury there is no evidence the synthetic estrogen known as DES causes breast cancer in the daughters of women who took it. No medical records show the mother of the four women in the Boston case took DES, he said, or that if she did take it, that it was made by Eli Lilly.
TV-over-Internet service expands despite lawsuitsNEW YORK (AP) _ The Barry Diller-backed Internet company that challenged cable and satellite TV services by offering inexpensive live television online plans to expand beyond New York City this spring. In the wake of a federal court ruling that tentatively endorsed its legality, Aereo will bring its $8-a-month service to Boston, Chicago, Philadelphia, Washington and 18 other markets in the U.S., as well as to New York's suburbs. For the past year, the service had been limited to New York City residents as the company fine-tuned its technology and awaited guidance on whether its unlicensed use of free, over-the-air broadcasts amounted to a copyright violation.
Google exec gets look at NKoreans using InternetPYONGYANG, North Korea (AP) _ Students at North Korea's premier university showed Google's executive chairman Tuesday how they look for information online: they Google it. But surfing the Internet that way is the privilege of only a very few in North Korea, whose authoritarian government imposes strict limits on access to the World Wide Web.
Anheuser-Busch debuts beer with Super Bowl adST. LOUIS (AP) _ Anheuser-Busch InBev said Tuesday that is introducing a new specialty beer _ an amber lager with a higher alcohol content _ and will promote its new brew with a Super Bowl ad. The maker of Budweiser, Bud Light and other brews will launch Budweiser Black Crown with a 30-second ad on Feb. 3 during Super Bowl 47, though the beer will be available in stores nationwide starting Jan. 21. It will be sold in 12-ounce glass bottles in six- and 12-packs, and in 22-ounce single bottles.
Hollywood offers free movies to boost UltraVioletLAS VEGAS (AP) _ In a bid to jumpstart its fledgling online movie system, Hollywood studios are resorting to a time-honored tactic: They're giving stuff away. An industry consortium called the Digital Entertainment Group said Tuesday that it will include 10 free movies from six major studios every time a consumer buys certain models of Internet-connected TVs. Buyers of certain Blu-ray players will get five free movies.
Qatar aiding Egypt with extra $2.5 billionCAIRO (AP) _ Qatar announced Tuesday it was doubling its financial aid to the Egyptian government with a new injection of $2.5 billion, underlining its role in propping up Cairo's foreign currency reserves and highlighting its strong ties with the Muslim Brotherhood leadership. The help from Qatar has been crucial to the government of President Mohammed Morsi, who hails from the Brotherhood. Qatar has assisted Egypt with $2.5 billion in deposits since August, after Morsi won in the country's first free presidential election.
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