1. GERMAN LAWMAKERS SIGN OFF ON CYPRUS RESCUE
German lawmakers voted overwhelmingly to approve Cyprus' $13 billion European bailout on Thursday. The result was widely expected, as the terms of the deal — including closing Cyprus' second biggest bank and siphoning money from wealthy bank depositors to help pay for the rescue — is widely popular in Germany's center-right ruling coalition. The bailout isn't entirely in the clear yet, however, as members of the divided parliament in Cyprus revealed Wednesday that it, too, would hold another vote on the plan, casting new doubt on its future. [Reuters]
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2. ECONOMIC INDICATORS FIZZLE
The Conference Board's index of economic indicators inched down unexpectedly by 0.1 percent in March, the organization said Thursday. The numbers had risen by 0.5 percent in January and February. Conference Board economists said the economy appeared to have "lost some steam," but that the numbers point to "a continuing but slow growth environment," with encouraging data offsetting weak consumer expectations and housing starts. [MarketWatch, USA Today]
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3. APPLE SLIDES AND TAKES SUPPLIERS WITH IT
Apple's stock dipped below $400 a share this week, a 16-month low. The negative milestone marked a 42 percent drop from the all-time high of $705.07 per share it reached in September 2012. Investors fear sales of the company's popular iPhones and iPads are dropping off significantly in the face of rising competition from Android smartphones and tablets. Apple's troubles are starting to hammer its global network of suppliers. Cirrus Logic, which gets 91 percent of its sales from the audio chips Apple buys, this week reported that it's flooded with inventory and expects disappointing first-quarter revenue. Apple's top supplier, Hon Hai Precision Industry, this month reported its biggest drop in quarterly revenue in 13 years. [The Week, Bloomberg]
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4. COOLING ECONOMY WEIGHS ON JOB MARKET
The number of people filing new claims for unemployment benefits ticked slightly higher last week, the Labor Department said Thursday. The number reached 352,000, up from a revised 348,000 the week before. The news suggested that the job market's recovery remained too weak for comfort. Still, the numbers were roughly in line with what economists expected, and still around what's needed for average monthly jobs gains of 150,000 or more. "Labor market conditions still appear to be grinding forward, but pushing against the weight of a slowing economy and subdued confidence," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Michigan. [Reuters]
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5. GOOGLE WARNING: DON'T SELL GOOGLE GLASS
Google is warning the lucky people who get to try out the first batch of $1,500 Google Glasses not to even think about hawking them on eBay to make a quick buck. The internet search giant says in its terms of service for the high-tech specs that users can't resell them without permission. If they do, the company says, it "reserves the right to deactivate the Device, and neither you nor the unauthorized person using the Device will be entitled to any refund, product support, or product warranty." [PC Magazine]
