Friday, October 8, 2010
The U.S. economy continued to lose jobs last month as small gains in the private sector failed to offset big cuts in government workers, pointing to a still sluggish recovery. Private-sector employers added only 64,000 jobs in September, according to the Labor Department. Overall, nonfarm payrolls fell by 95,000 as temporary census workers were let go and state and local governments also cut employment.
iPhone on Verizon
Apple Inc. is making a version of its iPhone that Verizon Wireless will sell early next year, according to people familiar with the matter, ending an exclusive deal with AT&T and sharpening the competition with Google Inc.-based phones. While Apple is on track to sell 40 million iPhones across the globe this year, the touchscreen handset is facing pressure in the U.S. from phones running Google's Android software, which have been heavily promoted by Verizon Wireless, the biggest U.S. carrier by subscribers. Apple plans to begin mass producing the new iPhone by the end of the year, and it would be released in the first quarter of 2011.
Nobel Peace Prize Awarded
The 2010 Nobel Peace Prize was awarded Friday to Liu Xiaobo, a Chinese democracy activist, who in December was sentenced to 11 years in prison, for his "long and non-violent struggle for fundamental human rights in China." Experts believe this move could heighten tensions between China and the West by re-focusing international attention on Beijing's human rights record. It also comes amid broader tensions between China and other major countries—including Japan and India—over areas such as trade and territorial disputes as Beijing begins to exert the economic and military powers it has accumulated in the last three decades.
Source: Wall Street Journal