Going down slow: The U.S. current account trade deficit narrowed in the final three months of 2012. But that didn’t prevent the deficit for the entire year from climbing to the highest level in four years. The Commerce Department reports today that the current account deficit in the October-December quarter narrowed to $110.4 billion, down 1.8% from the previous quarter. For the year, the current account deficit widened to $475 billion, a 1.9% increase from 2011. It was the largest annual imbalance since 2008. Read the full story here.
Paying the cost: A measure of U.S. wholesale prices rose in February by the most in five months, pushed higher by more expensive gas and pharmaceuticals. But outside those increases, inflation was mild. The producer price index grew a seasonally adjusted 0.7% in February from January, the Labor Department is reporting this morning. The index measures the cost of goods before they reach consumers. Wholesale prices are what manufacturers and farmers receive for their products from retailers and distributors. More details can be found in the full story here.
Calling all competition: Samsung Electronics is taking to the Big Apple to reveal its next big challenge to Apple: a successor to its top-selling Galaxy S III smartphone. The Korean company has rented New York’s Radio City Music Hall for an event this evening. The company has hinted that it will reveal the Galaxy S IV phone. It’s not known what the new phone will look like or how it will differ from its predecessor, but it’s sure to spur increased competition from Apple and other Android smartphone makers. Read the full story here.
Today’s poll question: Given the Metro Council’s decision to allow Baton Rouge casinos to serve alcohol 24 hours a day, do you think area bars should be allowed to do the same?
