Holiday Shopping Season News
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Japan’s biggest makers of phones, televisions and chips say they’ll lose about $17 billion this year, about three-quarters of what Samsung Electronics Co. will spend on research to lengthen the lead over its competitors.
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Amazon.com Inc. fell the most in three months after sales missed estimates, signaling that its investments in media services, Kindle devices and shipping promotions have been slow to pay off.
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Consumer spending stalled in December as Americans took advantage of a jump in incomes to restore depleted savings, indicating households remain focused on repairing finances.
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Restrained spending by consumers held growth in the U.S. economy to a 2.8% annual pace in the fourth quarter, slower than economists forecast while still the fastest pace in more than a year.
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The economy in the U.S. probably expanded in the fourth quarter at the fastest pace of 2011 as consumer spending picked up and companies rebuilt stockpiles, economists said before a report today.
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Since Google Inc. introduced its Android operating system in 2007, the company’s strategy has been simple: Give it to developers for free and make money when consumers click ads on the Web or through apps. That model is hitting a snag.
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U.K. retail sales rose in December as stores cut prices to lure consumers during the year-end holiday shopping season.
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Inventories in the U.S. rose in November for a second month as companies worked to bring stockpiles in line with a pickup in demand at the start of the holiday shopping season.
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Hasbro Inc., the world’s second- largest toymaker, reported preliminary full-year earnings per share that trailed analysts’ estimates after sales growth in the fourth quarter was weaker than expected.
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Sales at U.S. retailers rose less than projected in December, confirming forecasts for a slowdown in consumer spending at the start of 2012.
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