Sales of its new iPhone 5s and 5c models have surpassed other iPhone releases and exceeded initial supply, Apple says. The company says it has sold 9 million of the phones since their launch on Friday and that "many online orders" will ship in coming weeks.
"This is our best iPhone launch yet — more than nine million new iPhones sold — a new record for first weekend sales," Apple CEO Tim Cook said in a Monday press release. He added that "while we've sold out of our initial supply of iPhone 5s, stores continue to receive new iPhone shipments regularly."
The U.S. Defense Department has awarded a rich military contract to Lockheed Martin, agreeing to pay more than $3.9 billion for a missile-defense system. The deal calls for a maximum of 110 high-altitude interceptor missiles for the United States, and 192 versions of the missiles for export to the United Arab Emirates.
Update at 2:30 p.m. ET: Number Of Missiles Adjusted
I don't know about you, but I'm a little troubled when I hear about people who watch multiple screens. You know what I'm talking about. Maybe you're watching a movie at home while live tweeting, or while keeping track at a ballgame. At least movie theaters are a sacred space, immune to these changes.
The International Monetary Fund has played a pivotal role in responding to the global financial crisis. The IMF has almost 200 member countries, and the organization helps to keep their economies growing, or at least stable. Christine LaGarde heads the IMF.
Stephanie Rubin and Ingrid Calvo are two New York-based moms who think American school lunches leave a lot to be desired. So they started a delivery business in Manhattan called Inboxyourmeal com. For $10, they'll deliver healthy, chef-prepared meals to students in their delivery area.
NPR's business news includes a first for Internet TV.
The video streaming service Netflix claimed a victory at the Emmy Awards last night. David Fincher took the Best Director prize for his work on the political drama "House of Cards;" the first time an online video distributor won in a major category.
Bernard Vallius, who heads the group, says it used to be that people ate a sit-down lunch and dinner with family or friends every day. Now people — especially the young and those who live in cities — eat sandwiches or skip lunch altogether and snack, he says.
For the third year in a row, the poverty rate has remained stuck at about 15 percent. Nearly one in six Americans was living in poverty in 2012, according to a new report by the Census Bureau. Despite a slow-moving economic recovery, these latest numbers show that for poor Americans, there are few signs of any recovery.