The U.S. economy lost 62,000 in June just slightly higher than the forecast of 60,000. Thus far the American economy has lost nearly 438,000 jobs this year with more job losses expected to come. This is the sixth straight month of job losses, the longest job loss streak since May 2002.

Ask Jeeves has closed its all cash buyout of Lexico Publishing Group, owner of Dictionary.com and Thesaurus.com. Ask Jeeves estimates the deal expands its global reach by approximately 15 million to 145 million monthly viewers.

Adobe has released a customized version of its Flash Player software to allow search engine companies, including Google, to provide indexing for embedded flash media files.

Oil prices continued to climb on Wednesday to close above $144, after a reported released show that U.S. inventories declined greater then expected.

Merrill Lynch issued a warning Wednesday morning that General Motors is in desperate need for cash and if conditions worsen the company may face bankruptcy. As oil prices continue to climb and economic conditions worsen, General Motors is facing a tough time staying a float. It's stock price is now the lowest it has been in 36 years.

Starbucks announced Tuesday plans to close nearly 600 of its nonperforming coffee shops across the U.S. as slow downs in the economy have greatly lowered the company's sales forecasts. Starbucks also reported that it plans to drastically cut down the number of new stores in with U.S. with now only planning to open 200 new stores in 2009.

AT&T confirmed Tuesday that it will begin selling Apple's iPhone beginning July 11th for $199 for the 8 gig version and $299 for the 16 gig version. AT&T also stated that an activation charge of $18 to $36 would also be required. AT&T also announced plans to sell the iPhone without requiring a contract at later date at the price points of $599 and $699.

Sprint Nextel gained more then any other telecom service provider in the S&P during the second quarter. The company reported that it added more then 33 percent more subscribers in the second quarter than the previous quarter. Sprint also stated that its new Instant phone, a direct competitor with the iPhone, produced record sells.

Current OPEC President Chakib Khelil is predicting that the price of oil may rise as high as $170 a barrel before the end of the year, citing further declines in the U.S. dollar and increased political conflicts. Khelil stated in a telephone interview that U.S. demand for oil increases during the summer months; however, OPEC continues to state that oil output is sufficient. OPEC is unlikely to raise... More

According to the Commerce Department, consumer spending rose by 0.4 percent in May the highest in nine months as consumers spent stimulus checks. At the same time personal incomes rose by 1.9 percent and the savings rate increased by 5 percent, the highest amount since March 1995.

Delta Airlines reported Friday that it would the first major airline to add fuel surcharges to passenger tickets purchased through using frequent flier miles. The move comes as the airline industry continues to coop with rising fuel costs.

Bill Gates official says his farewells at Microsoft today. He built up the company to become the most valuable technology company, and he led the company to successful meet its goal of placing a computer onto every desk in every home.

According to the study, Apple may actually have higher profit margins on its new G3 iPhone. Lower component costs may allow Apple to exceed 50 percent profit margins on every iPhone sold. ISupply estimates manufacturing costs for each iPhone to be around $173 compared to $265 for the original iPhone. With each iPhone selling for $200 and a $300 subsidy Apple may be experiencing very high profit... More

Finally, sales of previously owned homes rose in May from the lowest level in nearly nine years as lower prices lured some buyers into the market. Despite the rise in resales, the Federal Reserve warned that the housing correction is likely to damp growth on into 2009.

Twitter is rumored to have received 15 million in funding from Amazon. The company reported that the funds will be used to strengthen its infrastructure and reliability.