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An iPhone is seen at the Apple store in New York

Apple Tops the Smartphone Foodchain, Samsung on the Prowl

Nokia and Samsung has been demoted with Apple becoming the top smartphone vendor in the fierce global mobile device war. According to reports, Apple has sold over 20 million iPhones along with over 9 million iPads in the second quarter.

House Passes Two-Stage Debt Ceiling Plan

U.S. House Speaker John Boehner
The House of Representatives has passed a bill to raise the U.S. debt ceiling and cut federal spending, although Democrats have already vowed to defeat the measure ahead of an August 2 deadline.

Republicans pass Budget Deficit Plan

U.S. Deficit
The House of Representatives approved a Republican plan to cut the budget deficit on Friday that is doomed to defeat in the Senate but which could pave the way for a bipartisan compromise to avert a U.S. debt default.
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Growth anemic, debt row poses recession risk

The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly.
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How the iPhone 5 could save Sprint

With the iPhone 5 set to be released later this fall, there has been some rumors that Apple may be looking to release the phone on both the Sprint and T-mobile networks.
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Merck to slash jobs in cost-savings drive

Merck & Co Inc plans to cut another 12,000 to 13,000 jobs by late 2015 to wring out additional annual cost savings of up to $1.5 billion that can be plowed back into research and deal making.
Nintendo Pressured to Develop for Apple iPhone

Nintendo 3DS Cuts Price by More than 30 pct

The sluggish sales of Nintendo's new gaming device 3DS pushed the company to make a surprising move to slash the price by $80, or more than 30 percent, possibly losing money for each sale of the device.
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U.S. court will not reconsider Rambus rulings

A U.S. appeals court will not reconsider rulings that chip designer Rambus Inc was wrong to shred hundreds of boxes of documents relevant in two patent infringement lawsuits, according to court records.
Actor and comedian Jerry Lewis

Jerry Lewis tight-lipped on telethon role

Veteran entertainer Jerry Lewis on Thursday brushed aside questions about media reports that he was retiring as host of the annual U.S. telethon for muscular dystrophy, suggesting they were false.
Solar panels

After dismal second-quarter, solar outlook brightens

Solar investors should brace themselves for some downright dreadful second-quarter earnings reports in the coming weeks, though the rest of the year may provide some relief to battered solar stocks as panel prices stabilize and profit margins recover.
Flu vaccine

Scientists Close to Universal Flu Vaccine

Yearly flu shots could be a relic in less than a decade, as scientists say they are on the verge of developing a universal vaccine capable of treating all strains of seasonal influenza.
President Barack Obama

Pending Debt Ceiling Vote, Obama urges compromise

With four days left before the United States hits its debt limit, Republicans pressed ahead with a deficit plan that cannot pass Congress and President Barack Obama told lawmakers to stop wasting time and find a way "out of this mess."
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Pending Debt Ceiling Vote, America's Youth Have Most to Lose

With America edging closer to a default and a downgrade in credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.
Bush

Bush to Join Obama for 9/11 Anniversary Services

After initially declining President Barack Obama's May offer to accompany him at memorial services at Ground Zero, former President George W. Bush has changed his mind, saying he will stand side-by side with the commander-in-chief to commemorate the 10th anniversary of the Sept. 11 attacks.

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