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Italy Cuts Another $5.58B From '12 Budget

Italy's technocratic government approved ?4.5 billion ($5.58 billion) in spending cuts for this year aimed at slashing the size of Italy's bloated public sector and delaying a new tax increase until after the first half of 2013.
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A pedestrian walks past the NASDAQ building in New York City

Top After-Market Nasdaq Movers (Xyratex, Celldex, Sequenom, Fifth Street Finance, Applied Micro Circuits, Informatica, Alexza, ValueVision, Amtech, Alaska Communications)

The top after-market Nasdaq gainers Thursday were Xyratex Ltd, Celldex Therapeutics Inc, Sequenom Inc, Fifth Street Finance Corp and Applied Micro Circuits Corporation.The top after-market Nasdaq losers were: Informatica Corporation, Alexza Pharmaceuticals Inc, ValueVision Media Inc, Amtech Systems Inc and Alaska Communications Systems Group Inc.
Apple working to fix app crashes

Apple Working To Fix Crashing App Store Updates

It's been a rough week for Apple's iOS team.In addition to Apple's first reports of a malicious program in their App Store, hundreds of newly-updated iOS apps have been crashing on launch and functionally unusable. The problem seems to have been traced to problems with the App Store's binary system and its FairPlay DRM. According to developer Marco Armet, apps that run perfectly for development teams are being corrupted when sent through the App store to consumers.
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Airlines Report June Rise In Passenger Traffic

Some airline companies appear to be faring much better in gaining passenger traffic thanks to a soaring demand for air travel and limited carrier choices -- a trend that has given U.S. airlines wide leeway to maintain overcrowded planes and shoddy customer service.
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Proxy Adviser Urges Defeat Of RIM Board Member

Investors in Research In Motion Ltd should not re-elect one-time lead director John Richardson to the board of the struggling BlackBerry maker at Tuesday's annual meeting, proxy advisory firm Glass Lewis said.
Euro currency

Foreign Troubles Dim US Earnings Forecasts

The European summit may have increased investor confidence, but weak consumer spending across Europe, along with the rise of the dollar against the euro, is slowing down the global economy, pushing many companies to trim their earnings forecasts.
Apple iGlasses Coming Soon? New Patent Reveals Rival To Google's Project Glass

Apple iGlasses Coming Soon? New Patent Reveals Rival To Google's Project Glass

Google Glasses are incredibly ambitious, but it appears that Google is no longer alone in exploring the avenue of wearable tech solutions. Apple was reportedly granted a patent on Tuesday in relation to peripheral treatment for head-mounted displays. Of all the companies to build a Project Glass rival, Google should worry most about Apple.
Bottles of Coca-Cola, which will be delivered to stores, are seen in a warehouse at the Swire Coca-Cola facility in Draper, Utah

Sugar Subsidies Face More Opposition On Capitol Hill

Government subsidies for sugar farmers are facing fresh opposition, despite the farmers' successful efforts to defeat a recent bid to eliminate the subsidies that opponents argue endangers public health, reduces employment and costs consumers and businesses billions of dollars.
Amazon Kindle Fire

Amazon Could Ship 17M Kindle Fires This Year

Amazon.com Inc. (Nasdaq: AMZN), the No. 1 e-retailer, could ship as many as 17 million of its Kindle Fire tablets this year, said Victor Anthony, analyst with Topeka Capital Markets.
File photo shows the headquarters of mortgage lender Freddie Mac in McLean

US Mortgage Rates Hit New Low Of 3.62%

U.S. 30-year fixed-rate mortgages fell to a record low of 3.62 percent, its 10th such weekly record low in the last 11 weeks, following weak economic data, mortgage financier Freddie Mac said Thursday.
7.85-inch iPad mini

Apple May Introduce ?iPad Jr? or ?iPad Mini?

Apple (Nasdaq: AAPL), the world's most valuable technology company, may introduce a smaller version of the iPad to compete with products from Google (Nasdaq: GOOG), the No. 1 search engine, and Amazon.com Inc. (Nasdaq: AMZN), the No. 1 e-retailer and Microsoft (Nasdaq: MSFT), reports said.
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Apple May Introduce ?iPad Jr? Versions

Apple (Nasdaq: AAPL), the world's most valuable technology company, may introduce a smaller version of the iPad to compete with products from Google (Nasdaq: GOOG), the No. 1 search engine, and Amazon.com Inc. (Nasdaq: AMZN), the No. 1 e-retailer, a report said.

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