BUSINESS NEWS JANUARY 13th 2016
U.S. BUDGET DEFICIT ENDS AT LOWEST LEVEL SINCE 2007
On Wall Street...stocks were under selling pressure as investors sold-off their stocks in the healthcare, consumer and financial sectors. The U.S. budget deficit ended last year at its lowest mark since 2007. The deficit for calendar year 2015 came in at $478 bn, or around 2.6% of gross domestic product, down from $488 bn a year earlier, or 2.8% of GDP. Deficits have fallen steadily since 2010 as government spending declined and revenue picked up.
For more on the story log on to http://www.wsj.com/articles/u-s-budget-deficit-ends-year-at-lowest-level-since-2007-1452711602
GENERAL MOTORS BOOSTS 2016 PROFIT OUTLOOK
General Motors (GM) expects to earn record profits this year ahead of its estimates and will also boost a stock repurchase program from $5 bn to $9 bn. GM expects to earn between $5.25-5.75/share this year, up from its previous guidance of $5-5.50/share. The bullish guidance comes even as the U.S. auto sector recorded sales of 17.5 mn new vehicles last year.
For more on the story log on to http://www.usatoday.com/story/money/cars/2016/01/13/gm-boosts-2016-profit-outlook-hikes-dividend/78730222
MICROSOFT OFFICIALLY ENDS SUPPORT FOR WINDOWS 8
Microsoft has officially ended support for its Windows 8 operating system. The operating system represented the first big shift for the world's biggest software maker. Microsoft will no longer issue any bug fixes or security patches for the software. Existing users who upgrade to Windows 8.1 will receive support from Microsoft until January 2023.
For more on the story log on to http://m.timesofindia.com/tech/tech-news/Microsoft-officially-ends-support-for-Windows-8/articleshow/50563510.cms
APPLE REPORTEDLY EYEING TIME WARNER ACQUISITION
According to a report in The New York Post, Apple is eyeing a potential acquisition of Time Warner in an effort to boost the viability of their stand-alone streaming TV service. The iPhone maker has reportedly been struggling to sign content deals with distributors as it attempts to build a small programming bundle. Apple can bring some of the top content in-house by acquiring Time Warner since traditional TV networks are trying to protect their livelihood.
For more on the story log on to http://www.valuewalk.com/2016/01/apple-inc-time-warner-icahn/