LITTLE ROCK — QUOTE OF THE DAY
“This is still the weakest and longest economic recovery in U.S. postwar history.”
Paul Dales,
U.S. economist with Capital Economics Article, 1DIPhone 4 has signal issues, users say
SEATTLE - Apple’s customer-support website is filling up with messages about the new iPhone 4, which went on sale Thursday. Some people complain that holding the phone in a certain way can interfere with calls.
A stainless steel band that wraps around the sides of the iPhone 4 does double duty as the device’s antenna.
Some new iPhone owners say that covering small black lines on the band with their hands cuts call-signal strength.
Apple Inc. says such problems are “a fact of life for every wireless phone.” The company says people should avoid blocking the sensitive part with their hands or buy a case.
Dairy competition explored at hearing
MADISON, Wis. - The federal government’s top antitrust investigator said Friday that the Department of Justice is keeping a watchful eye on the nation’s dairy industry.
Assistant Attorney General Christine Varney said at Friday’s hearing in Madison on antitrust issues that the Department of Justice wants to promote fairness in the dairy industry. She said the department knows that dairy farmers are concerned about lagging prices and consolidation in the industry.
U.S. Agriculture Secretary Tom Vilsack said the purpose of the day-long hearing was to gather information about whether the playing field is fair in the dairy industry.
About 500 people attended the hearing.
U.S. oil, gas rigs up 13; state loses 1
HOUSTON - The number of rigs actively exploring for oil and natural gas in the U.S. increased by 13 this week to 1,552.
Baker Hughes Inc. said Friday that 958 rigs were exploring for natural gas and 583 for oil. Eleven were listed as miscellaneous. A year ago this week, the rig count stood at 917.
Of the major oil- and gas-producing states, North Dakota gained six rigs, Wyoming four, Oklahoma three, West Virginia two and Alaska one. Texas lost three rigs, while Pennsylvania, Louisiana, Colorado and Arkansas each lost one rig. California and New Mexico remained unchanged.
The rig count tally peaked at 4,530 in 1981 and sank to a record low of 488 in 1999.
Baker Hughes is based in Houston.
EU delays vote on hedge-fund rules
BRUSSELS - A European Union lawmaker said EU governments and the EU parliament haven’t yet agreed on new hedge-fund rules, delaying its vote until September.
The new EU rules would regulate managers of hedge funds for the first time, requiring them to register with regulators and hand over information on their trades. They will also have to set aside capital to counter risks.
EU governments and the European Parliament have approved separate versions of the new law and were scheduled to find a compromise before a July vote.
Chavez-seized bank’s funds unfrozen
CARACAS, Venezuela - Venezuela on Friday reopened accounts to clients of a bank seized by the government two weeks ago.
Banco Federal’s clients will have access to their accounts through more than 3,000 branches of other private and staterun banks handling Federal’s deposits, minister of state banking Humberto Ortega Diaz said.
Banco Federal owner Nelson Mezerhane said the government takeover was retribution for his political opposition to President Hugo Chavez.
The government seized temporary control of Banco Federal on June 14, alleging the lender failed to comply with an order to increase its Venezuelan currency holdings by about $349 million to cover depository guarantees.
Business, Pages 30 on 06/26/2010