AP Business NewsBrief at 2:08 a.m. EST
(Associated Press Via Acquire Media NewsEdge) Review: BlackBerry Z10 is good stab at rebirthNEW YORK (AP) _ Are you ashamed to have a BlackBerry It's not exactly a status symbol any more, at least not in the U.S., after it got left in the dust by the iPhone. Now, there's a new BlackBerry that wants to get back into the cool club: the Z10. It's the first phone to run the new BlackBerry 10 operating system, and it is, at first blush, a very good stab at regaining at least some of the cachet of the BlackBerry.
Boeing sticks to production plans, battery for 787Boeing is sticking with plans to speed up production of its 787 and sees no reason to drop the troubled lithium-ion batteries at the center of the plane's problems, CEO Jim McNerney said Wednesday. A fire and emergency landing earlier this month, both involving the batteries, prompted regulators to ground Boeing's newest and highest-profile plane.
Deutsche Bank has steep Q4 loss of $2.91 billionFRANKFURT, Germany (AP) _ Deutsche Bank is reporting a large (EURO)2.15 billion ($2.91 billion) loss for the fourth quarter because of asset writedowns and lawsuit expenses. The bank wrote off the value of investments and businesses it owns as it reshapes its business to meeting new requirements for banks to hold bigger financial buffers against losses.
High-tech cargo airship being built in CaliforniaTUSTIN, Calif. (AP) _ The massive blimp-like aircraft flies but just barely, hovering only a dozen feet off a military hangar floor during flight testing south of Los Angeles. Still, the fact that the hulking 230-foot-long Aeroscraft could fly for just a few minutes represents a step forward in aviation, according to the engineers who developed it. The Department of Defense and NASA have invested $35 million in the prototype because of its potential to one day carry more cargo than any other aircraft to disaster zones and forward military bases.
Asia stocks fall on unexpected dip in US economyBANGKOK (AP) _ An unexpected contraction in the U.S. economy at the end of 2012 sent Asian stock markets into retreat Thursday. The U.S. economy shrank in the fourth quarter for the first time since mid-2009, hurt by big cuts in defense spending, falling exports and sluggish growth in company inventories, the government reported Wednesday. That put the brakes on a Wall Street rally that had pushed the Dow to near-record highs.
US economy shifted into reverse in late 2012WASHINGTON (AP) _ The U.S. economy shrank unexpectedly late last year, a reminder of the biggest threat it faces in 2013: sharp government spending cuts and prolonged political budget fights. A plunge in defense spending helped push the economy into negative territory for the first time since mid-2009. The contraction in the October-December quarter came in at an annual rate of 0.1 percent, according to a government estimate released Wednesday.
ANA sticks to forecast despite grounding of 787sTOKYO (AP) _ Japan's All Nippon Airways is sticking to its profit forecast despite flight cancellations caused by the worldwide grounding of Boeing 787 jets. ANA, which is currently the biggest customer for the Dreamliner with 17 of the jets in its fleet, said Thursday that 459 domestic and international flights were canceled this month because of the grounding, causing about 1.4 billion yen ($15.4 million) in lost revenue. It said it was unclear when the aircraft will be cleared by regulators to fly again.
NY Times says Chinese hacked paper's computersBEIJING (AP) _ Chinese hackers repeatedly penetrated The New York Times' computer systems over the past four months, stealing reporters' passwords and hunting for files on an investigation into the wealth amassed by the family of a top Chinese leader, the newspaper reported. Security experts hired to investigate and plug the breach found that the attacks used tactics similar to ones used in previous hacking incidents traced to China, the report said. It said the hackers routed the attacks through computers at U.S. universities, installed a strain of malicious software, or malware, associated with Chinese hackers and initiated the attacks from university computers previously used to attack U.S. military contractors.
Stocks drop as economy put brakes on stock rallyNEW YORK (AP) _ Worries about the economy have slowed a January stock rally. After a month of impressive gains that brought the Dow within 200 points of a record, the markets have paused this week. Stocks started the day lower Wednesday after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter. That decline extended after the Federal Reserve said that it would continue to try to boost growth through a bond-buying program designed to keep borrowing costs down.
Unemployment rates fall in most large US citiesWASHINGTON (AP) _ The Labor Department says unemployment rates fell in more than three-quarters of the largest U.S. cities in November compared with the same month a year ago, evidence modest hiring is benefiting most areas of the country. Rates fell in 290 of the nation's 372 largest metro areas. Rates rose in 68 cities and were unchanged in 14.
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