Today in business: 5 things you need to know
Samsung introduces a $13,000 curved TV, Paula Deen gets dumped (again), and more
1. SAMSUNG INTRODUCES CURVED TVS
Samsung, the world's biggest TV maker, started selling a $13,000 TV with a curved screen Thursday. The screen is supposed to be more comfortable for the human eye and easier to watch from different angles. Samsung is working on two new TV technologies: lightweight organic-light-emitting-diode screens that are more vivid than conventional screens, and ultrahigh-definition displays that offer a resolution four times crisper than existing ones. [Wall Street Journal]
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2. NOVO, HOME DEPOT, AND TARGET CUT TIES WITH PAULA DEEN
Since admitting to using a racial slur, Paula Deen's business partners have been dropping like flies. Just one day after Walmart and Ceasars Entertainment ended their relationships with the TV personality, Home Depot, Target, and drug maker Novo Nordisk followed suit. Deen has been the face of Novo's "Diabetes in a New Light" educational campaign since last year, when she admitted to having type 2 diabetes. "Novo Nordisk and Paula Deen have mutually agreed to suspend our patient education activities for now, while she takes time to focus her attention where it is needed," the company said. [CNN]
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3. STUDENT LOAN RATES SET TO DOUBLE
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The interest rate for subsidized Stafford loans for undergraduates from low-income families will increase to 6.8 percent from 3.4 percent on Monday unless Congress agrees on an alternative plan. More than 7 million students have Stafford loans. [Bloomberg]
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4. RIM TO GIVE FIRST PEEK AT NEW BLACKBERRY SALES
On Friday, Research in Motion will divulge information about shipments of the new touchscreen BlackBerry Z10, a product believed to be integral to reversing the company's sunken profits. Analysts' estimations for shipments have ranged widely, from 2.75 million to as many as 5 million. Friday's numbers won't reflect shipments in the U.S., which just went out earlier this month. [Wall Street Journal]
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5. COURT: STARBUCKS' BARISTAS MUST SHARE TIPS WITH SUPERVISORS
New York's highest court ruled Wednesday that Starbucks baristas must share tips with supervisors, but not with assistant managers — agreeing with Starbucks' existing policy. Because supervisors do much of the same work as baristas, they should share tips, the court said. The New York State Restaurant Association says the ruling is helpful for all bars and restaurants that seek clarity on how to compensate their various workers. [FOX]
Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.
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