RIM shares dive as fee changes catch market off guard

Shares of BlackBerry maker Research In Motion Ltd plunged more than 20 percent on Friday on fears that a new fee structure for its high-margin services segment could put pressure on the business that has set the company apart from its competitors.It was the stock's biggest, single-day, percentage price drop since September 2008. But shares were still nearly 80 percent above the year's low, which was...

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TSX ends flat as RIM buckles, gold miners bounce

Canada's main stock index ended little changed on Friday as gold miners gained on safe-haven buying amid U.S. budget uncertainty, while BlackBerry maker Research In Motion Ltd plunged more than 20 percent.The index's materials sector, which includes miners, rose 0.4 percent. Even though the price of gold was near its lowest level in four months, the gold-mining sub-sector added 0.9 percent as investors...

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First photos of BlackBerry 10 ‘N-Series’ QWERTY smartphone leak

As Research In Motion (RIMM) begins its attempt to mount a comeback for the ages in 2013, it will place its early hopes on two high-end smartphones. The first is the BlackBerry Z10, and we’ve already seen it in a number of leaks. The second is a QWERTY-equipped touchscreen phone similar to the current BlackBerry Bold 9900, and it has just been pictured for the first time in photos published by Chinese...

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Fifth-gen iPad reportedly due in March along with Retina iPad mini

Rumors that a second-generation iPad mini with a Retina display is set to launch ahead of Apple’s typical annual schedule next year have been swirling, and now it appears Apple’s (AAPL) full-size iPad may be sticking to its new semiannual release schedule. According to a report from Japanese blog Makotakra that cites an anonymous “inside source,” Apple plans to launch a new thinner, lighter 9.7-inch...

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Find room for God in fast-paced world, pope says on Christmas eve

Pope Benedict, leading the world's Roman Catholics into Christmas, on Monday urged people to find room for God in their fast-paced lives filled with the latest technological gadgets. The 85-year-old pope, marking the eighth Christmas season of his pontificate, celebrated a solemn Christmas Eve mass in St Peter's Basilica, during which he appealed for a solution to the Arab-Israeli conflict and an...

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Future of state estate taxes hangs on U.S. "fiscal cliff"

Falling off the "fiscal cliff" is a bad thing, right?Not necessarily for some state governments that could begin collecting more in estate taxes on wealth left to heirs if the United States goes over the "cliff," allowing sharp tax increases and federal spending cuts to take effect in January.In an example of federal and state tax law interaction that gets little notice on Capitol Hill, 30 states...

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Stranded by winter storm? Tips for fliers

A massive winter storm is disrupting travel plans for tens of thousands of fliers trying to get home after Christmas. Snow, thunderstorms, sleet, tornados and high winds have grounded planes in the nation's midsection and are expected to slow operations on the East Coast.Delays racked up from Dallas to Indianapolis to Chicago. By 3 p.m. EST Wednesday, more than 1,100 flights nationwide had been scrapped,...

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Retailers pull stocks lower on poor holiday sales

For the stock market, this week hasn't been the most wonderful time of the year.U.S. stocks fell Wednesday for the third trading day in a row. Disappointing holiday sales weighed heavy on retail companies, and the unwelcome "fiscal cliff" package of higher taxes and lower government spending loomed nearer.The Dow Jones industrial average slipped 24.49 points to 13,114.59. The Standard & Poor's...

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Fees undermine fliers' ability to compare fares

For many passengers, air travel is only about finding the cheapest fare.But as airlines offer a proliferating list of add-on services, from early boarding to premium seating and baggage fees, the ability to comparison-shop for the lowest total fare is eroding.Global distribution systems that supply flight and fare data to travel agents and online ticketing services like Orbitz and Expedia, accounting...

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U.S. retailers scramble after lackluster holiday sales

The 2012 holiday season may have been the worst for retailers since the 2008 financial crisis, with sales growth far below expectations, forcing many to offer massive post-Christmas discounts in hopes of shedding excess inventory.While chains like Wal-Mart Stores Inc and Gap Inc are thought to have done well, analysts expect much less from the likes of book seller Barnes & Noble Inc and department...

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Catholic Church urges Irish to oppose abortion law

The head of Ireland's Catholic Church urged followers in his Christmas Day message to lobby against government plans to legalize abortion.Ireland, the only EU member state that currently outlaws the procedure, is preparing legislation that would allow limited access to abortion after the European Court of Human Rights criticized the current regime.The death last month of an Indian woman who was denied...

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Lawmakers play waiting game with 'fiscal cliff' deadline in sight

With only a week left before a deadline for the United States to go over a "fiscal cliff," lawmakers played a waiting game on Monday in the hope that someone will produce a plan to avoid harsh budget cuts and higher taxes for most Americans from New Year's Day.Though Republicans and Democrats have spent the better part of a year describing a plunge off the cliff as a looming catastrophe, the nation's...

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Venezuela's Chavez improving after surgery: officials

 Venezuelan President Hugo Chavez is improving after a cancer operation in Cuba and has started exercising, officials said on Monday, amid doubts over whether the former soldier is in good enough health to continue governing.Vice President Nicolas Maduro said he had spoken by phone with Chavez, who was walking and doing exercises as part of his treatment."We've gotten the best present we could...

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Japan approves Novo's new combination insulin Ryzodeg

 Danish drugmaker Novo Nordisk said on Tuesday Japan's health regulator had approved its new combination insulin, that it plans to market as Ryzodeg, for the treatment of diabetes.Ryzodeg is a combination of Novo's new ultra long-acting insulin degludec, or Tresiba, which Japan became the first country to approve in September, and its rapid-acting insulin Novorapid.Tresiba, Novo's biggest new...

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UCB gets Japan clearance for two new drugs

Belgian pharmaceutical company UCB has secured two regulatory clearances in Japan, further cementing its worldwide shift to a new generation of drugs.The company said in a statement on Tuesday that the Japanese Ministry of Health, Labour and Welfare had approved UCB's Neupro patch to treat Parkinson's disease and moderate-to-severe Restleg Legs Syndrome in adults.Otsuka Pharmaceutical has the exclusive...

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Judge asks Hostess to mediate with union

Twinkies won't die that easily after all. Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won't go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week. The bankruptcy judge hearing the case said Monday that the...

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Just Explain It: What is the Strategic Petroleum Reserve?

Eliminating America's dependency on foreign oil has been a policy goal for at least the last two U.S. Presidents. According to the International Energy Agency, by 2020, the U.S. will overtake Saudi Arabia as the world's number one oil producer. However, there's still some work to do. The United States Energy Information Administration reported that 45% of the petroleum consumed by the U.S. in 2011...

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Apple to produce line of Macs in the US next year

Apple CEO Tim Cook says the company will move production of one of its existing lines of Mac computers from China to the United States next year. Industry watchers said the announcement is both a cunning public-relations move and a harbinger of more manufacturing jobs moving back to the U.S. as wages rise in China. Cook made the comments in part of an interview taped for NBC's "Rock Center," but aired...

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US economy adds 146K jobs, rate falls to 7.7 pct.

The pace of U.S. hiring remained steady in November despite disruptions from Superstorm Sandy and employers' concerns about impending tax increases from the year-end "fiscal cliff." Companies added 146,000 jobs, and the unemployment rate fell to 7.7 percent — the lowest in nearly four years — from 7.9 percent in October. The rate declined mainly because more people stopped looking for work and weren't...

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Just Explain It: Why the Fiscal Cliff May Trigger a Recession

Lawmakers in Washington appear to be making little to no progress in avoiding the impending so-called fiscal cliff. House Speaker John Boehner, R-Ohio, said Friday the negotiations are "almost nowhere." On Thursday Boehner rejected a proposal from the Obama administration saying that the Democrats need to "get serious about real spending cuts." President Obama's offer continues to call for higher...

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Legendary Indian sitarist, composer Ravi Shankar dead at 92

Sitarist and composer Ravi Shankar, who helped introduce the sitar to the Western world through his collaborations with The Beatles, died in Southern California on Tuesday, his family said. He was 92. Shankar, a three-time Grammy winner with legendary appearances at the 1967 Monterey Festival and at Woodstock, had been in fragile health for several years and last Thursday underwent surgery, his family...

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McAfee arrives in U.S. from Guatemala

Computer software pioneer John McAfee, who is wanted for questioning in Belize over the murder of a fellow American, arrived in Miami on Wednesday evening after he was deported by Guatemala, according to fellow passengers on an American Airlines flight. After landing, McAfee, 67, was escorted from the plane by airport security officers, passengers said. Shortly afterward, he tweeted, "I am in South...

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Mick Jagger love letters fetch $300,000 at auction

A collection of love letters written by Rolling Stones frontman Mick Jagger to American singer Marsha Hunt, believed to be the inspiration for the band's hit single "Brown Sugar", sold at Sotheby's on Wednesday for 187,250 pounds ($301,000). The 10 letters, dating from the summer of 1969, had been expected to fetch 70-100,000 pounds, according to the auctioneer. "The passage of time has given these...

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Singer-songwriter Carole King to receive U.S. Gershwin prize

American singer-songwriter Carole King will be awarded the Library of Congress Gershwin Prize for Popular Song, the U.S. national library said on Thursday. The multiple Grammy Award winner co-wrote her first No. 1 hit at age 17 with then-husband Gerry Goffin and was the first female solo artist to sell more than 10 million copies of a single album, with her 1971 release "Tapestry." The prize honors...

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