NPR's business news starts with BlackBerry backpedaling.
Research in Motion, the maker of the BlackBerry smartphone, says it's turning its focus back to corporate customers. This follows its failure to break into consumer markets dominated by iPhones and androids. Last quarter, the company lost $125 million. Analysts say BlackBerry's main problem is its trouble running third-party applications. Transcript provided by NPR, Copyright NPR.
This Best Buy store in Richfield, Minn., near the retailer's corporate headquarters, is getting remodeled as part of a pilot project in the Twin Cities and San Antonio, Texas. The new store, part of Best Buy's "connected store" concept, will be smaller and emphasize portable electronics, such as tablets and e-readers.
Best Buy is trying to wriggle out of the big box. The electronics retailer has a lot of real estate in its giant blue stores, but it isn't profitable space: In its most recent quarter, the company reported a $1.7 billion loss. So it's shedding stores and workers — and rethinking its big-box concept.
President Obama is expected to sign another stopgap funding bill that avoids a weekend shutdown of thousands of transportation construction projects. The measure gives a 90-day funding extension for road, bridge and rail construction projects.