Best Buy CEO Brian Dunn resigns amid internal conduct probe
Brian Dunn, a 28-year veteran and 2009 CEO of Best Buy, abruptly resigns as the company launches an audit into his personal conduct unrelated to operations. The board says Dunn chose to resign prior to the investigation’s completion. severance terms were not disclosed and Dunn’s 2010 compensation was about $5 million.
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Apple market value crosses six hundred billion mark
Apple becomes the world’s most valuable company reaching a 600 billion market cap with shares at 644 before retreating to close around 628.44. Analysts note strong profits and a new plan to deploy 97.6 billion cash via dividends and buybacks while comparing with rivals and future targets.
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U.S. coal exports surge to 20-year high in 2011
U.S. coal exports reached 107 million tons worth about 16 billion in 2011, the highest since 1991, driven by demand from Asia and Europe. South Korea imports rose 81 percent, India 65 percent, and Japan 119 percent as nuclear concerns and cheap gas reshape markets.
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Drivers to pay 6 percent more for gas this summer
U.S. drivers will face an average 24 cent rise to 3.95 a gallon from April through September the Energy Information Administration said. The peak may reach 4.01 in May amid higher crude prices and supply concerns linked to Iran.
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