Research firm says Kindle Fire costs $201.70 to make; Amazon takes $2.70 lossNEW YORK (AFP) ― At $199, Amazon is selling the Kindle Fire slightly below the cost it takes to manufacture the tablet computer, according to market research firm IHS iSuppli. In a “teardown” estimate published Friday, IHS iSuppli said it costs $201.70 to manufacture the Kindle Fire, which Amazon began shipping to customers this week.“The Kindle Fire, at a retail price point of $199, is sold at a loss by Amazon, just a

GENEVA (AFP) ― Swiss banking giant UBS said Thursday it was to dramatically cut back its investment bank arm, reducing its risky assets by half or 145 billion Swiss francs ($158 billion).“We have chosen to substantially reduce the risk profile of the bank by exiting and downsizing businesses which are not value added (for) our client franchise or deliver unattractive risk-adjusted returns,” newly-appointed chief executive Sergio Ermotti said in a statement.The shake-up comes as the bank, Switzer

BUDAPEST (AFP) ― Hungary said Thursday it was seeking a new deal with the International Monetary Fund, in what would mark a U-turn from its earlier stance, but the financial institution denied talks were under way.Hungary got a 20 billion euro ($27 billion) bailout from the IMF and the EU in 2008 but, after some progress, it has come under increasing pressure to calm nervous investors and halt the depreciation of the forint.“Within the regular annual economic policy consultations with the IMF, w

DEARBORN, Michigan (AP) ― The Ford Escape is getting a long overdue makeover, ditching its boxy styling for a sleek look that Ford hopes will outshine competitors. It has reason to be confident: Ford Explorer SUV sales are at a four-year high thanks to a similar redesign last year. Ford will unveil the 2013 Escape at the Los Angeles Auto Show Wednesday. It goes on sale early next year. Pricing hasn’t been announced, but it will likely start around $25,000. The Escape’s boxy profile was looking s

MADRID (AP) ― Spain lowered its growth forecast for 2011 by half a point to around 0.8 percent Wednesday after official data showed the economy stagnated in the third quarter.After months of stubbornly sticking to a prediction of 1.3 percent GDP growth for this year, Deputy Finance Minister Jose Manuel Campa said the new quarterly figure meant this was no longer realistic.The government thus joined many private economists, thinktanks and international financial institutions that have been saying

Google Inc.’s Android software ran on more than half of all smartphones sold in the third quarter as consumers snapped up handsets made by Samsung Electronics Co., said researcher Gartner Inc. The Google system accounted for 52.5 percent of smartphone sales, more than doubling its share from a year earlier, Gartner said in an emailed report. Even as some consumers delayed purchases to wait for Apple Inc.’s latest iPhone and other models, smartphone sales by volume grew 42 percent, it said. “Andr

TOKYO (AFP) ― The Bank of Japan on Wednesday left its key rate unchanged at between zero and 0.1 percent, and held steady on monetary policy despite concerns over the high yen and eurozone debt crisis.In its assessment of the economy, it warned Japan will “face an adverse effect from the slowdown in overseas economies and the appreciation of the yen as well as from the flooding in Thailand.”The central bank, which expects Japan to eventually return to “a moderate recovery path,” added that its p

MF Global Holdings Ltd. and its bankrupt broker-dealer attracted at least three lawsuits Monday from former employees who said they were terminated without cause and seek to recover 60 days’ wages and benefits. Todd Thielmann and Pierre-Yvan Desparois said they were acting for all fired employees in their suit against the parent company, filed after the liquidator of broker-dealer MF Global Inc. dismissed 1,066 employees last week as part of the shutdown of the firm. Natalia Sivova and Anthony A

DUBAI (AP) ― Dubai’s fast-growing airline Emirates kicked off the Middle East’s biggest airshow Sunday with a huge order for 50 Boeing 777s, marking the U.S. aircraft maker’s biggest-ever single order in dollar terms.Emirates and Boeing Co. valued the unexpectedly large deal for an extended range version of the 777-300 at $18 billion ― the total by list price ― though the carrier is unlikely to pay that much. Airlines typically negotiate big discounts, especially when buying in bulk.Emirates has