Dollars & Sense: Apple after Steve; prepping for China's president
The iPad has been a winner for Apple.
January 17th, 2011
11:36 PM ET

Dollars & Sense: Apple after Steve; prepping for China's president

A roundup of today's CNNMoney news:

Apple is poised to shatter sales records: Wall Street analysts estimate Apple raked in sales of more than $24 billion during the last quarter, driven by strong iPad demand, and 2011 is full of bright spots. Steve Jobs may be stepping down, but he's leaving the company in great shape. Apple COO Tim Cook will take the reins and everyone is wondering if he can keep the Jobs momentum going.

Senators talk tough on China currency: A bill introduced by U.S. Sen. Chuck Schumer and two other Democrats would impose penalties, including possible tariffs, on nations that manipulate their currencies. "China's currency is like a boot on the throat of America's economic recovery," Schumer said.

5 Chinese trade tricks: Businesses argue that China’s policies are designed to encourage a trade imbalance with the U.S. In 2009, the U.S. had a trade deficit with China of $263 billion - about two-thirds of our total trade deficit that year. And Chinese stocks are under pressure as worries about inflation and asset bubbles gain traction.

National debt: The ugly truth: The federal debt has averaged less than 40% of the total economy. It now represents more than 60% and is likely to hit 100% in a little over a decade. Both Democrats and Republicans are making some serious miscalculations.

Supercomputer 1, Jeopardy champs 0: Watson, IBM's natural-language processing supercomputer, is surprisingly cute and anthropomorphized. "He" appears as a black rectangle with a globe avatar sitting between his future rivals. Watch Watson handily beat two former Jeopardy champs in a practice round.

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Filed under: Business • Dollars & Sense • Economy
soundoff (6 Responses)
  1. Sherri W.W.#1~ILLinois

    I hope Steve Jobs can get well.He seems to be one of a number of the very rich,who have come forward to try to do good things with their money,as well as speaking up against the inequality in the country today. I wish him well!

    January 18, 2011 at 12:03 am | Report abuse |
  2. Sherri W.W.#1~ILLinois

    As for the national debt~if politicians like Boehner&Co,would get serious,instead of fooling around trying to TAKE BACK laws ALREADY in force&helping folks~and worry about those JOBS They ran on,maybe they could get enough people back to work to help pay taxes and help the debt! And antone who believes the Repubs will"replace"the HCBill with anything~I got a Big Bridge I will sell you! Repubs dont DO that~help regular folks~no way.

    January 18, 2011 at 12:32 am | Report abuse |
  3. Chicago

    Finally safe way to abrade stretch marks at home

    January 18, 2011 at 1:16 am | Report abuse |
  4. garrett

    the product above gave my wife a rash and hives

    January 18, 2011 at 2:23 am | Report abuse |
  5. Cesar

    Apple is a great success. Keep up the good job.

    January 18, 2011 at 2:34 am | Report abuse |
  6. Hugh Campbell

    An America Lost in Squanderville.

    The United States’ trade gap is the proverbial “leak-in the-dike” with its de-simulative effect on our recovery. In November 2003, Warren Buffett in his Fortune, Squanderville versus Thriftville article recommended that America adopt a balanced trade model. The fact that advice advocating balance and sustainability, from a sage the caliber of Warren Buffett, could be virtually ignored for over seven years is unfathomable. Media coverage that China has kept it currency undervalued is a gross understatement, it has actually been keeping the U.S. dollar over-valued; which adversely affects all U.S. trade with all U.S. trading partners, not just trade with China. Until action is taken on Buffett’s or a similar balanced trade model, by the powers that be, America will continue to squander time, treasure and talent in pursuit of an illusionary recovery.

    January 18, 2011 at 9:39 am | Report abuse |