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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Dec 16, 2011
Page
10
U.S. weekly unemployment applications fall to 366,000, the lowest since May 2008, with the four week average down for the 10th time in 12 weeks. Ohio shows a large weekly rise tied to construction and auto layoffs.
Europe’s banks are strained by risky government debt and higher borrowing costs while regulators push bigger cushions for bad loans. Downgrades and talk of nationalizing banks press fears of a credit crunch as lending tightens and economies falter.
Research In Motion postpones BlackBerry 10 devices until late 2012 due to the need for a highly integrated chipset. Co-CEO Mike Lazaridis cites this shift as the key to rebuilding U.S. market share amid iPhone and Android competition while PlayBook sales and profits remain under pressure.
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