Mon, September 13, 2010
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Nokia taps new CEO

2010-09-13 09:39:01 GMT2010-09-13 17:39:01 (Beijing Time)  SINA.com

Cell phone giant Nokia taps U.S. executive for top spot. President Obama names new Economic Adviser Chairman.

Nokia ramps up its plans to rival Apple. The world's top cellphone maker tapped Microsoft executive Stephen Elop to replace its embattled chief executive amid slow sales.

Google's Android software will become the world's second most popular operating system for cell phones, according to a report by research firm Gartner.

That would put it ahead of offerings from Microsoft, Research In Motion and Apple, and behind Nokia.

U.S. government-owned General Motors says its new CEO Dan Akerson will receive a $1.7 million cash salary plus $5.3 million of stock per year.

The White House formally announces long-time economic adviser Austan Goolsbee to the Chairman post of the White House Council of Economic Advisers.

He replaces outgoing Christina Romer who announced her return to academia. Obama, in a White House press conference Friday, said Republicans are holding the economic recovery hostage.

On Wall Street: trading was choppy. Alec Young, Equity Strategist at Standard & Poor's:

SOUNDBITE: ALEC YOUNG, EQUITY STRATEGIST, STANDARD & POOR'S (ENGLISH) SAYING:

"There's still a fair amount of uncertainty as to the strength of the recovery globally so that has some people skeptical on the recent rebound we've seen in equities and I think that's keeping a little money on the sidelines as well."

Technology shares were under some pressure after chipmakers warned consumers are not spending as much on computers.

The Dow and S&P gained half a percent with a slight gain for the Nasdaq.

For the week: small gains for the major averages.

In overseas trading: a mixed session.

Crude oil jumped 3 percent to close above $76 dollars a barrel after a supply outage in the U.S.

Video game junkies may be taking a break from the couch. U.S. retail sales of video game software and equipment fell 10 percent in August, according to research group NPD. The industry continues a months-long slump.

(Reuters)

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