Cisco Systems Inc., the world's largest maker of computer-networking gear, said it would pay its first dividend by July, the end of its current fiscal year. Like several other big technology companies, Cisco has a large cash balance, and analysts have speculated that it would use it for a dividend. Cisco CEO John Chambers said the annual dividend yield would be in the 1 percent to 2 percent range. The exact amount will be determined in the coming months.Philly papers to be sold again, this time 'as is'
Philadelphia's two major newspapers go on the auction block again next week after creditors failed to close on their planned $139 million purchase by Tuesday's deadline. The expedited re-sale of the Philadelphia Inquirer and Philadelphia Daily News is now set for Sept. 23, this time in open court. The newspapers will now be sold "as is," with no conditions or contingencies attached. The previous auction had included an escape clause if creditors couldn't sign labor contracts with all 15 employee unions.Eurozone sees more evidence of slowdown
Europe got further evidence that its unexpectedly strong economic recovery is slowing, with the news that German investor confidence fell sharply in September and eurozone industrial production unexpectedly stagnated during July. The twin pieces of economic data have reinforced the view that the eurozone economy, which grew by a quarterly rate of 1 percent in the second quarter of the year -- equivalent to an annualized rate of over 4 percent -- is inevitably cooling off in the wake of faltering economic growth in the U.S.Eisner says Tribune reports were overblown
Former Disney CEO Michael Eisner downplayed reports that he is being considered to head media company Tribune Co. after it exits bankruptcy protection. Eisner, 68, told St. Louis radio station KTRS that journalists had read more into his association with Tribune than was real. "I guess somebody in the media put one and one and added it up to two," Eisner said. "It really adds up to minus one and a half."'Biggest Loser' coach Michaels joins GoDaddy
GoDaddy.com is adding a second spokeswoman as it closes in on $1 billion in annual sales this year: fitness guru Jillian Michaels. Michaels joins race car driver Danica Patrick as a "Go Daddy Girl," a move that CEO Bob Parsons said should attract new customers -- even as he predicts that next year will see a repeat of this year's revenue growth of 22 percent. Michaels is famous for her role as a coach on NBC's weight-loss show, "The Biggest Loser."GM to add 400 workers at Spring Hill plant
General Motors Co. plans to recall about 400 idled union workers to its plant in Spring Hill, Tenn., to build four-cylinder engines for its mid-size crossover vehicles, an official said Tuesday. A person briefed about the new jobs provided the employee count to the Associated Press and said the recall is due to increased demand for the four-cylinder engines. The person did not want to be identified because the plan has not been made public.OPEC says it doesn't want to 'rock the boat'
OPEC is "comfortable" with current oil prices and does not want to "rock the boat" as the world recovers from its worst recession in decades, the group's secretary general said, while acknowledging that the group faces abundant challenges in a rapidly changing market. The assurance by Abdalla El-Badri reflects the sense of caution that the Organization of the Petroleum Exporting Countries as it looks to balance an oil market still feeling the effects of the global economic meltdown.Czech Republic puts brakes on Street View
Authorities in the Czech Republic have banned Google Inc. from expanding its mapping feature "Street View" in the Eastern European country, an official said. Google Czech Republic said it was not deterred by what it considered a temporary decision, and said the dispute was mostly about technical problems in collecting the photographs used in "Street View" -- which provides Internet users with panoramic views and photographs of neighborhoods from various points along many streets across the globe.Nokia's Ollila says he'll stay through 2012
Nokia Corp. said Chairman Jorma Ollila has signaled readiness to stay on at the helm of the world's leading handset maker until 2012. Nokia spokeswoman Arja Suominen said that no announcement had been made but that Ollila has said he would be "at the disposal of the company" until the annual general meeting of the company in spring 2012. Last week, Nokia said that CEO Olli-Pekka Kallasvuo will be replaced by Stephen Elop, who heads Microsoft's business division, as president and chief executive on Sept. 21.
FROM NEWS SERVICES