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Latest financial news - CNNMoney.com
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From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
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Can iPhones go corporate?
Don't believe the hype. The iPhone still has some real shortcomings, especially as a business tool. So if you tell your IT manager you want to ditch your BlackBerry, expect him to hand you this list of iPhone shortcomings:
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Alcoa to cut global workforce by 13%
Aluminum producer Alcoa Inc. said Tuesday it will slash its global workforce by 13%, or 13,500 jobs, by the end of the year as a way to remain competitive during the global economic recession.
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A gadget to track every calorie you burn
After falling in love with the Nintendo Wii's physically demanding sports games, serial entrepreneur James Park, 32, started to ponder other ways to combine video games and fitness. The result: a $99 lipstick-size gadget that clips on to your clothes and uses a motion sensor to track everything from steps taken to sleep patterns and calories burned.
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Millionaires? More like $700,000-aires
While it may be hard to feel sympathy for America's millionaires, they're feeling the economic crunch, too - nearly a third of their assets have disappeared in the downturn, according to a consulting firm's report released Tuesday.
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Fed predicts economy will get worse
The U.S. economy is likely to deteriorate further this year and unemployment will rise into 2010, according to the latest forecasts from the staff of the Federal Reserve.
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Enron's Skilling to be resentenced
Read full story for latest details.
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Wilbur Ross: I will buy a bank
Billionaire investor Wilbur Ross, known for his investments in distressed companies in the steel, automotive industries, said it is only a matter of time before his firm acquires a bank.
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Dollar rises on weak European data
The dollar continued its rise against the euro Tuesday as negative economic reports punished the European currency.
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TARP expenses total $26.6 million
Read full story for latest details.
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Apple changes iTunes pricing
Apple unveiled a change in the pricing structure for its iTunes music downloads Tuesday, ending the 99-cents-a-song pricing that has helped iTunes dominate the industry.
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