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Tuesday
Feb012011

Dow Jones Closes Above 12,000; First Time Since June '08

Photo Courtesy - Getty Images(NEW YORK) -- The Dow Jones industrial average closed above the 12,000 mark on Tuesday for the first time since June 2008. The big board showed 12,040.16 at the closing bell.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Most Mobile Ad Dollars Wasted, Survey Says

Photo Courtesy - Apple(NEW YORK) -- The majority of mobile ad dollars are wasted, according to findings from a new survey.

The survey conducted by Pontiflex and Harris Interactive found nearly half of mobile app users have accidentally clicked on ads more often than they intentionally clicked on ads.

That means most advertisers are wasting their cash since most pay on a cost-per-click basis.

According to survey results, 61 percent of 18 to 34 year-olds (the most active age group utilizing mobile apps) accidentally click on mobile apps.

The results also show that 71 percent of app users prefer ads that keep them within the contents of the app, rather than taking them to another page.

The December survey results are based off of the experiences of more than 4,000 application users.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Survey Shows Online Privacy is a Concern for Some Americans

Photo Courtesy - Getty(NEW YORK) -- Nearly 35 percent of Americans are concerned the government is watching their online activity, according to a survey administered by YouGov and distributed by Opera Software.

According to the results, online privacy was more of a concern than declaring bankruptcy.

However, despite the concern, about 61 percent of Americans use safe passwords and only 47 percent regularly delete their computer's browsing history.

A similar survey was also conducted in Russia and Japan with similar results. Online privacy was a top concern in those countries as well.

YouGov surveyed over 1,000 people in three different countries between Jan. 19 and Jan. 24.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Google: View the World's Art Without Leaving Home

Photo Courtesy - ABC News (NEW YORK) -- Next time you want to get yourself some culture, you won't need to battle the crowds at a museum. You won't even need to leave the house.

Google Tuesday announced its Art Project, which lets users tour 17 of the world's top art museums -- virtually.

Using Google's Street View technology, art lovers can digitally roam the halls of New York's Metropolitan Museum of Art, the Tate Britain of London, the Uffizi Gallery in Florence, and many other of the art world's great art houses.

Panoramic views let users explore the museums without buying a plane ticket to Europe or the United States, and high-resolution images of more than 1,000 masterpieces make it possible to zoom in to study the details.

"The last 20 years have transformed and democratized the world of art -- with better access to museums in many countries and a proliferation of public artworks. We're delighted to have been able to collaborate with leading art museums around the world to create this state-of-the-art technology," said Nelson Mattos, Google's vice president of engineering, in a statement. "We hope it will inspire ever more people, wherever they live, to access and explore art -- in new and amazing levels of detail."

The project also lets its virtual visitors curate their own online collections of art. With the "create an artwork collection feature," visitors can save their favorite pieces of art, add their own comments and share the collections with family and friends.

At the moment, the Louvre in Paris is not listed among the partners, so there's no studying the Mona Lisa's famous smile. But other notable works of art include Botticelli's "Birth of Venus" and Vincent Van Gogh's "Starry Night." Google Art Project includes 486 artists from around the world.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Construction Spending Hits Decade Low

Photo Courtesy - Getty Images(WASHINGTON) -- Construction spending in December fell to its lowest level in a decade, according to figures released by the Department of Commerce Tuesday.

The spending fell 2.5 percent in December while annual construction spending in the U.S. fell to $814 billion, the lowest level since July 2000.

Home building is expected to make a slow rebound amid foreclosures and unemployment. Spending on private construction fell 2.2 percent from November to December as homebuilding outlays dropped 4.1 percent.

Weather may also have played a factor in the December decline in home construction as December was one of the snowiest months on record.
 
Copyright 2011 ABC News Radio

Tuesday
Feb012011

Manufacturing Industry Expands at Fastest Rate in Seven Years

Photo Courtesy - Getty Images(TEMPE, Ariz.) -- The manufacturing industry grew at its fastest rate in seven years, according to new figures from the Institute for Supply Management.

A report Tuesday from the ISM said that activity in factories registered a 60.8 percent on their index, up from 58.5 in December. The number represents an 18th consecutive month of expansion and the highest index rating for the sector since May 2004.

The ISM says that the manufacturing expansion was bolstered by a spike in new orders and continued strong production.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Pfizer Announces Fourth-Quarter Earnings, Planning Cuts to Research

Photo Courtesy - Getty Images(NEW YORK) -  Drugmaker Pfizer announced fourth-quarter earnings Tuesday and said it plans to cut research in order to maintain per share earnings for 2012.

Fourth-quarter sales in 2010 met expectations with revenues of $17.6 billion. Total revenue for the year ended at $67.8 billion. The company, however, lowered its 2012 sales forecast by three percent, or approximately $2 billion, but promised to maintain 2012 earnings per share forecasts with further cuts to research.

Pfizer plans to cut its research and development budget by roughly $2 billion dollars, down to approximately $6.5 billion from $8.5 billion.

Cuts will include closing a research laboratory in Sandwich, U.K., that employs close to 2,400 people. According to the BBC, the site performs research and development on allergy and respiratory drugs.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

Toyota 'Encouraged' By January Sales Rebound 

Photo Courtesy - Getty Images(TORRANCE, Calif.) -- Toyota Motor Sales has reported a January rebound that ended with a 17.3 percent increase in sales over the same month last year.

January sales in the United States reached 115,856 units overall, according to a press release. The Toyota Division saw a 23.7 percent increase in sales while sales in the Lexus Division actually saw a decrease, down 17.1 percent from January of 2010.

"We are encouraged by last month’s results, which show continued strength in both the passenger and light truck segments,” said Bob Carter, Toyota Division group vice president and general manager of Toyota Motor Sales, USA. "Loyalty and conquest rates have returned to historical levels and we believe our ‘#1 for a Reason’ advertising campaign, launching this month, will help build on our early sales momentum.”

Sales in the passenger car division were led by the Toyota Corolla which recorded 20,581 sales in January, an increase of 20.2 percent from the previous year.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

General Motors Sales Up 23% In January

Photo Courtesy - Getty Images(DETROIT) -- General Motors reported a 23 percent jump in sales for the month of January, citing a solid increase in retail sales across its core four brands.

Sales of GM cars, trucks and crossovers all rose 34 percent or more in January.

The news signaled a strong start to the new year for General Motors.

“Our results were driven by gains across the board in all segments, with our newest models leading the way,” said Don Johnson, vice president, U.S. Sales Operations.

Chevrolet showed a 19 percent increase in sales over last January, Buick logged a 32 percent jump, and GMC totaled 30 percent higher sales. Cadillac was the automaker’s strongest brand; GM said its sales rose 49 percent.

Copyright 2011 ABC News Radio

Tuesday
Feb012011

BP Reports Loss of $4.9 Billion in 2010

Photo Courtesy - Jim Watson/AFP/ Getty Images(LONDON) -- BP, the oil company behind the oil spill in the Gulf of Mexico last year, reported on Tuesday an annual loss of $4.9 billion in 2010.

The loss includes a total pre-tax charge of $40.9 billion in connection to the oil spill.  BP said it will also resume paying dividends which were suspended after the Deepwater Horizon rig exploded back in June of last year.  Shareholders will receive seven cents a share for the fourth quarter of 2010.

"2010 will rightly be remembered for the tragic accident and oil spill in the Gulf of Mexico and it is clear that as a result BP is a company in transition.  I am determined that we will emerge from this episode as a company that is safer, stronger, more sustainable, more trusted and also more valuable," BP group chief executive Bob Dudley said.

Additionally, BP announced Tuesday plans to sell two of its refineries in the U.S. -- one in Carson, California and another in Texas City, Texas, where 15 people were killed in an explosion in March of 2005.

"2011 will be a year of recovery and consolidation as we implement the changes we have identified to reduce operational risk and meet our commitments arising from the spill.  But it will also be a year in which we have the opportunity to reset the company, adjusting the shape of our business, and focus on growing value for shareholders," Dudley said.

Copyright 2011 ABC News Radio







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