Today's Business Headlines
First an iPhone price cut left early buyers feeling foolish, and then came reports that some iPods were spitting sparks. Now the new iPhone 3G has been marred by bugs, spotty service, disappearing programs for the device and a veil of secrecy over software developers trying to broaden its appeal.
The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing impact of rebate checks wanes, plunging the country into another rut later this year.
Boeing Co. delivered a final contract offer to its union machinists Thursday that would boost pay by $34,000 on average over three years, the latest effort by the airplane maker to avoid a strike that could cost it millions of dollars a day.
Computer maker Dell Inc. said Thursday its fiscal second-quarter profit fell 17 percent, hurt in part by lower prices and restructuring charges. The earnings were short of Wall Street estimates, and Dell shares plunged.
Rising sales in Asia and Europe boosted Tiffany & Co.'s second-quarter profit on Thursday, signaling that strong international demand for jewelry is helping offset U.S. economic weakness.