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U.S. deficit falls to $680 billion

U.S. deficit falls to $680 billion

Jan 13, 2014

The US government has run a budget deficit below one trillion dollars for the first time in five years. Reports state that the deficit for 2013 amounted to $680.3 billion, when compared to $1.09 trillion in 2012. The latest deficit figure is the fifth-largest of all time but considered to be the smallest imbalance since 2008, when the government ran a $458.6...

Citigroup’s 4th quarter earnings disappoints investors

Citigroup’s 4th quarter earnings disappoints investors

Jan 5, 2014

Citigroup, the third largest bank in the US by assets, reported its results for the fourth quarter of 2013 and the full year earlier this month. Analysts and investors weren’t particularly pleased with the data as it failed to meet Wall Street’s expectations. Though the bank earned $2.7 billion or eighty-five cents a share in the last quarter, analysts had...

Apple to refund millions for kids’ in-app purchases

Apple to refund millions for kids’ in-app purchases

Dec 27, 2013

Apple Inc. has agreed to fully refund customers to settle a longstanding complaint from the US Federal Trade Commission (FTC) over ‘in-app’ purchases. The company is required to pay a minimum of $32.5 million in the wake of this issue. FTC framed Apple for charging its customers millions of dollars over the in-app purchases made by their kids without parental...

850,000 may have $90 less in food stamps

850,000 may have $90 less in food stamps

Dec 18, 2013

Lawmakers across the US are currently laying out the details on a finalized 2013 Farm Bill which plans to reduce food stamp benefits by $8.7 billion over the next decade. This move comes just two months after the recipients of America’s food stamps were informed of an automatic five billion dollar reduction in benefits. The Farm Bill proposal would not force...

5 things you’ll pay less for in 2014

5 things you’ll pay less for in 2014

Dec 8, 2013

The year 2014 promises to bring good news to those consumers looking forward to purchase gold, gas, cars, tablets and cell phone services. Prices of gold soared in the financial crisis but this year analysts are predicting that this shiny metal will suffer a significant decline. The global investment bank predicts bullion will fall at least 15% bringing the...

Blackberry Sues Startup Founded By Ryan Seacrest

Blackberry Sues Startup Founded By Ryan Seacrest

Nov 28, 2013

Blackberry, the troubled smartphone maker is suing a startup company debuted in December 2013 and backed by “American Idol” host Ryan Seacrest for having ripped off its keyboard design. A patent infringement lawsuit was filed in a San Francisco federal court by BlackBerry against Typo products, LLC, a Los Angeles startup co-founded by Seacrest and...

Fly Paper Planes with Your iPhone

Fly Paper Planes with Your iPhone

Nov 19, 2013

Seeing people’s continued fascination with paper planes, Shai Goitein, an Israeli pilot got the wacky idea to power a paper plane with a smartphone and convert it into a smart-phone controlled flying machine. With a crash-proof carbon fiber frame, the PowerUp 3.0 Smart Module has been called, “the coolest toy ever” by Cult of Mac. Goitein worked as a cargo...

Amazon Makes Up for Christmas Delays

Amazon Makes Up for Christmas Delays

Nov 10, 2013

Quite a large number of shoppers were left dejected when their gifts did not show up on time from Amazon for Christmas even though the company had used all its resources to process the orders and reach them to customers’ door steps well in time. Apart from the weather, the major reason for late delivery of purchases was an influx of last-minute shoppers...