BC-Business News Digest
NEW YORK â¿¿ Paperless Post has defied its original digital business model successfully once. Now the online invitation and greeting card startup is taking that defiance a step further. Now Paperless Post is teaming up with stationery and card maker Crane & Co. to print wedding invitations. By Business Writer Joseph Pisani.
AP photos.â¿¿ DISNEY-LUCASARTS â¿¿ Four months after acquiring "Star Wars" maker Lucasfilm, The Walt Disney Co. is shutting down video game production at subsidiary LucasArts and laying off staff as it focuses on the less-risky, less-expensive path of licensing its characters and stories to other developers. â¿¿ NBC-LENOâ¿¿ Jay Leno says he will be leaving NBC's "Tonight Show" next spring, to be replaced by Jimmy Fallon. AP photos. â¿¿ AMAZON-DIGITAL SONGS FOR VINYL â¿¿ In an odd combination of old and new, Amazon says that every time a person buys a vinyl record from its online store, it will give that customer a digital version of the songs for free. â¿¿ RDIO-NEW VIDEO SERVICE â¿¿ Rdio, the music streaming service started by the founders of Skype, is getting into video. â¿¿ INTEL-EXECUTIVE COMPENSATION â¿¿ Intel CEO Paul Otellini's 2012 compensation rises 10 percent despite cut in incentive pay. INTERNATIONAL: EUROPEAN CENTRAL BANK FRANKFURT, Germany â¿¿ European Central Bank head Mario Draghi will try Thursday to reassure markets that turmoil from bailing out Cyprus won't worsen the euro currency union's debt crisis â¿¿ despite heavy losses there for savers and restrictions on taking money out of the country. The ECB's 23-member governing council is expected to leave its key benchmark interest rate unchanged at a record low 0.75 percent at its monthly rate-setting meeting in Frankfurt, Germany. By Business Writer David McHugh. With: â¿¿ CYPRUS-FINANCIAL CRISIS â¿¿ The International Monetary Fund has agreed to its part of the bailout for Cyprus, saying it will contribute 1 billion euros ($1.28 billion). The European Union and the IMF this week finalized the details of the bailout, which was agreed on in principle last week. IMF head Christine Lagarde said in a statement issued Wednesday that the fund will provide about a tenth of the overall package of 10 billion euros ($12.8 billion).
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