IN BRIEF
WASHINGTON
Waiting list started for digital TV coupons
Consumers who apply for federal coupons to pay for converter boxes ahead of next month's transition to digital television broadcasts are being placed on a waiting list and may not receive their vouchers before the switchover, the Commerce Department said Monday.
The National Telecommunications and Information Administration, the Commerce Department arm administering the coupon program, created the waiting list Sunday after hitting a $1.34 billion funding limit set by Congress.
The agency will send coupons to those on the list only as unredeemed coupons now in circulation expire, freeing more money for the program. The waiting list already has requests for 103,000 coupons.
And administration head Meredith Attwell Baker urged consumers now requesting coupons not to wait for them to arrive and to instead act quickly to ensure that they have at least one television set ready for Feb. 17 transition.
NEW YORK
Apple chief reveals hormone imbalance
Apple founder Steve Jobs, a survivor of pancreatic cancer whose gaunt appearance in the past year has alarmed the Mac and iPod lovers who look to him as an oracle, said Monday he has an easily treated hormone imbalance and will remain in charge of the company.
The news sent Apple stock up 4.22 percent on a down day for much of the market. But Jobs did not say whether the problem was related to the cancer, and some analysts said the health watch may not be over.
The CEO's health is an important issue for any company, but especially for Apple, where Jobs has presided over a decade of huge success. His mix of secrecy and high-design principles, seen in the rollouts of new Mac computers, the iPod music player and the iPhone, has become a trademark.
In a public letter, Jobs, 53, said his thinness had been a mystery even to him and his doctors until a few weeks ago, when "sophisticated blood tests" confirmed that he has "a hormone imbalance that has been 'robbing' me of the proteins my body needs to be healthy."
Apple shares rose $3.83, or 4.22 percent, Monday to close at $94.58 on the Nasdaq National Market.
Moody's upgrades Harrah's debt rating
Moody's Investors Service raised Harrah's Entertainment's probability of default rating to Caa1, reflecting substantial risk, from Ca, or extremely speculative, the company announced Monday in a note to investors.
The improved rating follows a debt exchange that has the gaming giant issuing $1.062 billion in new notes, $214 million due in 2015 and the remaining $847.6 million due 2018.
An additional $290 million in cash was used to swap old debt at 67 cents per $1.
Harrah's said Dec. 22 that nearly $6 billion in old notes were tendered during its $2.1 billion exchange offer.
The exchange reduced Harrah's debt load by $1.16 billion, reducing near-term debt payments by $435 million for 2010.
LONDON
Waterford Wedgwood files for bankruptcy
Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed.
Four administrators from business advisory firm Deloitte were appointed to run the company's businesses in Britain and Northern Ireland, while a Deloitte partner in the Irish Republic was appointed as receiver of Waterford Wedgwood PLC, the ultimate parent of the U.K. companies, and other Irish subsidiaries.
The U.K. joint administrators said they intended to continue to run the business as they seek a buyer.
SIOUX FALLS, S.D.
Ground war in Gaza pushes oil prices higher
Israel's ground offensive in Gaza and a dispute between Ukraine and Russia over gasoline imports pushed oil prices above $48 a barrel Monday, but some analysts say there's more than just unrest in the Middle East behind the rally.
Light, sweet crude for February delivery rose $2.47 cents to settle at $48.81 a barrel on the New York Mercantile Exchange.
Israel seized control of high-rise buildings and attacked houses, mosques and smuggling tunnels as it pressed its offensive against the Gaza Strip's Hamas rulers, while the U.S. joined a number of countries calling for a cease-fire.
WASHINGTON
Interest rates rise in Treasury auction
Interest rates on short-term Treasury bills, after hitting historic lows last month, rose in Monday's auction.
The Treasury Department auctioned $26 billion in three-month bills at a discount rate of 0.15 percent, up from 0.05 percent last week; and $27 billion in six-month bills at a discount rate of 0.32 percent, up from 0.25 percent last week.
NEW YORK
Yields increase for longer-term Treasurys
Longer-term Treasury bond yields rose Monday as investors braced for the possibility that the government will have to issue more debt.
But long-term Treasurys declined. The 10-year note fell 1.25 to 111.03, and its yield rose to 2.48 percent from 2.41 percent.
The 30-year Treasury bond sank 5.31 to 128.38, and its yield rose to 3.03 percent from 2.81 percent, BGCantor Market Data shows.
The two-year Treasury note rose 0.09 to 100.16, and its yield fell to 0.78 percent from 0.86 percent late Friday.
