Posted by Mary Dooe
For Marketplace Morning Report, Fri., Aug. 19, 2011
Gold has surged to $1,863 an ounce, prompting Hugo Chavez to nationalize the industry in his country of Venezuela. Computer hardware maker Hewlett-Packard says it's buying the British company Autonomy, which makes business software. The deal's worth $10 billion. At the same time, the company will nix production in other markets, including personal computers and tablets. Bank of America will reportedly cut thousands of jobs in the coming months in an effort to cut costs. And the ongoing debate about what to call this downturn in the economy continues, with one expert calling it a "bad hangover."
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