Tue, January 04, 2011
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iPhone fails to ring in the new year

2011-01-04 02:59:02 GMT2011-01-04 10:59:02 (Beijing Time)  SINA.com

A glitch in the Apple iPhone has impacted the device's alarm system. Users across the globe complained the alarm stopped working on New Year's day and continued on Monday, despite Apple's reassurance the built-in clocks would be working by then. There were a few complaints of a similar problem with other Apple devices. The glitch, however, didn't alarm investors. The stock still closed at an all-time high.

In other tech news: Facebook is getting a $500 million cash infusion from a team including Goldman Sachs and Digital Sky Technologies, a Russian Internet group, according to the New York Times. The investment values Facebook at $50 billion and is the latest sign start-ups are looking to tap private equity instead of launching initial public offerings.

A disappointing showing for the comedy "Little Fockers" means the Hollywood box office began the new year the way it ended the old one - in a slump. Ticket sales have been down industrywide for eight straight weekends.

In Wall Street action, investors were encouraged by continued growth in the manufacturing sector. The Dow started the year with a near triple-digit gain. And the rest of the market was up more than one percent.

That sentiment also pushed oil prices higher. Crude spiked to more than $91 a barrel to its highest close in over two years.

In Europe: Greece's effort to stem the tide of illegal immigration by building a fence on its border with Turkey suffered a setback. The European Commission struck down a plan for the barrier.

As for the markets: no barriers for the bulls. Big gains in Germany and France. U.K. markets were closed for a holiday.

(Source, Reuters)

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