Sellers of domain names pulling out of China Two U.S. companies that sell Internet addresses to websites have stopped registering new domain names in China because the Chinese government has begun demanding pictures and other identification documents from their customers. One of the domain name companies, Go Daddy Inc., announced its change in policy at a congressional hearing devoted to Google's announcement that it will no longer censor Internet search results in China. Network Solutions LLC said it had stopped handling China Web registrations in December.
Starbucks shareholders to get first dividend Starbucks Corp. CEO Howard Schultz proclaimed its once-stumbling brand is back in business after two years of layoffs and store closings, and the coffee giant issued its first dividend for investors. At the company's annual meeting in Seattle, Schultz said the brand's turnaround effort sliced $580 million from expenses. The dividend will return 10 cents per share to investors, and Starbucks said it plans to boost that payment.
Smucker to cut 700 jobs, close four plants The J.M. Smucker Co. is closing four plants and cutting 700 jobs, about 15 percent of its workforce. The company, which makes Folgers coffee, Smucker's jams and other products, said it is closing its fruit-spread plants in Memphis and Quebec, and moving the bulk of its production to Orrville, Ohio, where the company is based. Smucker is also closing its coffee plants in Sherman, Texas, and Kansas City, Mo., to consolidate all its coffee production into its plant in New Orleans.
Ad revenue at newspapers down 27% for '09 Newspaper advertising revenue plunged 27 percent last year to its lowest level since 1986, according to industry figures, reflecting the recession and a media shift that's driving more marketing dollars to the Internet. Newspapers sold $27.6 billion worth of ads in 2009, a figure that includes both print and online revenue. That's down from $37.8 billion the year before, according to the Newspaper Association of America.
U.S. oil production up; first increase since '91 Increased crude oil production last year in the Gulf of Mexico and North Dakota more than offset declines elsewhere to result in the first annual increase in U.S. oil production since 1991. The U.S. Energy Information Administration said production last year averaged 5.32 million barrels a day, up from 4.95 million in 2008. Last year saw the highest level of domestic oil production since 2004.
FROM NEWS SERVICES