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The Honolulu Advertiser
Posted on: Wednesday, December 30, 2009

BUSINESS BRIEFS
Consumer confidence rises for 2nd consecutive month


Associated Press

Hawaii news photo - The Honolulu Advertiser

Holiday shoppers on New York's Fifth Avenue last week presaged what a survey revealed yesterday: Consumer confidence in the economy rose again in December.

ASSOCIATED PRESS FILE PHOTO | December 2009

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NEW YORK — A more upbeat outlook on jobs pushed Americans' confidence in the economy higher in December for the second month in a row, a survey released yesterday said.

Consumers' expectations for the job market over the next six months reached their highest level in two years, but Americans remain gloomy about their current prospects.

The Conference Board said its Consumer Confidence Index rose to 52.9, up from a revised 50.6 in November, but the reading is still far short of the 90 that would signify a solid economy. In October, consumer confidence was 48.7. Economists surveyed by Thomson Reuters predicted a reading of 52 for December.

U.S. HOME PRICES MAKE TINY GAIN

NEW YORK — Home prices rose for the fifth month in a row in October, but the recovery is shaky with only 11 of the 20 metro areas tracked showing gains.

The Standard & Poor's/ Case-Shiller home price index released yesterday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October from September. Without adjusting for seasonal factors the index was flat.

The index was off 7.3 percent from October last year, nearly matching expectations of economists surveyed by Thomson Reuters.

ODOR LEADS TO RECALL OF TYLENOL CAPLETS

NEW YORK — Johnson & Johnson is expanding a voluntary recall of Tylenol Arthritis Caplets due to consumer reports of a moldy smell that can cause nausea and sickness.

According to a statement posted to the Food and Drug Administration Web site late Monday, the New Brunswick, N.J., company is now recalling all product lots of the Arthritis Pain Caplet 100 count bottles with the red EZ-Open Cap.

Johnson & Johnson had recalled five lots of the product last month after consumers complained of a musty, mildewlike odor that triggered nausea, stomach pain, vomiting and diarrhea.

NOKIA PATENT BATTLE WITH APPLE EXPANDS

NEW YORK — Nokia Corp. is broadening a legal dispute it has with Apple Inc. over the iPhone, saying almost all of the company's products violate the Finnish phone maker's patents.

Nokia said yesterday that it has filed a complaint against Apple with the U.S. International Trade Commission, alleging Apple's iPhone, iPods and computers all violate Nokia's intellectual property rights.

At issue are key features found in Apple products, including aspects of user interface, cameras, antenna and power management technologies, Nokia said.