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Date Posted: May 04 2013 at 4:01pm
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By MATTHEW CRAFT, Associated Press NEW YORK (AP) A rare earnings miss for IBM tugged the Dow Jones industrial average lower on Friday, while the rest of the market headed toward slight gains after a turbulent week. Quarterly earnings for the country's largest provider of computer services fell short of forecasts for the first time since 2005. IBM said delays in closing several large software and mainframe computer deals hindered sales. The company reported quarterly results after the market closed Thursday, Shortly before 10:45 a.m. Eastern, the Dow Jones industrial average was down 54 points, or less than 1 percent, to 14,484. IBM led the average lower, falling seven percent to $193, http://www.cheaptomsshoessalei.com - toms shoes .54. The Standard Poor's 500 index rose five points, also less than 1 percent, to 1,547. The Nasdaq composite index gained 21 points to 3,188. Microsoft rose 3 percent to $29.77, countering IBM's weight on the Dow, http://www.dgsn8.com/forum.php?mod=viewthread&tid=292475 - http://www.dgsn8.com/forum.php?mod=viewthread&tid=292475 . The softwar
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LISBON, May 3 (Xinhua) -- Portuguese Prime Minister Pedro Passos Coelho announced Friday in his official residence in Lisbon that the government will increase working hours for public sector workers and their retirement age, and cut public sector spending in the next few years to further reduce government expenditure.
He said that his government has decided to increase working hours for public sectors from the current 35 hours to 40 hours a week and levy less pension tax for those who volunteer to prolong their retirement age to 66 years old.
He further said that his government plans to cut public sector spending by 10 percent by the end of 2014, lay off 30,000 public servants and reduce 4.8 billion euros of public spending by the end of 2015.
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