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Best Buy set to launch Internet service

best-buy-logoThe top consumer electronics retailer, Best Buy Co., recently announced the company would offer its own branded wireless Internet service through a partnership with Sprint, called Best Buy Connect.

The service will launch in a few days on July 11, and will be available with or without terms starting at $29.99 for 250MB, according to the company.

Best Buy Connect VP Jed Stillman said today in a statement, “We are building on a great brand and foundation to enable people to rely on us for one-stop shopping and support for their mobile computing experience,”

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Consumer Electronics retailer Best Buy optimistically raises quarterly dividend

Another sign the economy is slowly beginning to pick up, North America’s largest consumer electronics retailer, Best Buy, has announced the company would increase its dividend by just over 7-percent on an annualized basis.

The company currently pays a $0.56 per share dividend annually, and will now raise that number to $0.60 per share annually.

Best Buy pays dividends quarterly.and lastly paid its $0.14 dividend on April 13.

The company said it would distribute the first updated dividend on October 26.

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Best Buy to expand video game trade-in program across North America

North America’s biggest consumer electronics retailer, Best Buy, today confirmed the company will allow consumers to trade in their video game titles for in-store credit in the form of gift cards, across all stores, starting sometime by the end of this summer.

We firstly reported on August 10 that Best Buy started this program as part of a pilot project in Salt Lake City in the United States that included kiosks in select stores in the area.

The company today confirmed it has plans to push the project across all Best Buy locations in the United States by the end of this summer, following with Canadian locations later on, likely by the end of the year.

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Best Buy to expand movie download service CinemaNow to consumer electronics

best-buy-logoThe biggest consumer electronics retailer in North America, Best Buy, has announced the company would expand its online movie and media download service, CinemaNow (powered by Roxio technologies), to support in-home consumer electronics.

CinemaNow allows consumers to rent and buy movies by downloading the movies to their computers on demand.

The service is already available for personal computers, including Windows, Mac, and Linux based machines, among others, but the service will now be expanded to various consumer electronics starting with blu-ray players through a partnership with the Korean electronics giant LG.

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Best Buy reports lower than expected quarterly profits

The top U.S. electronics retailer Best Buy Co. today posted quarterly earnings ended Aug 29.

The company’s total revenue was up 12-percent in the quarter to $11 billion, but profits were down from $202 million in the same period last year to $158 million ($0.37 per share).

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Best Buy launches program to offer new games at used prices

The biggest US-based consumer electronics retailer, BestBuy, has begun rolling out a new program that could dramatically change the video game industry.

The company has launched a new initiative that now lets gamers trade in their used console games in return for in-store credits.

The company has started off the program with kiosks inside stores in a small beta market near Salt Lake City, Utah, but is expected to quickly expand the program starting in the US and later in Canada.

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Outlook Bleak, Morgan Stanley to Cut Jobs, Stocks Tumble

In 2007, the New York investment bank, Morgan Stanley (now recognized as a Bank Holding Company), firstly slashed almost 5,000 jobs and has now announced it is slashing yet more jobs; 10% of employees in its main business, the institutional securities unit. The company employees just less than 47,000 employees, and a majority of that population works in the institutional securities unit. The Morgan Stanley co-president James Gorman offered a cautious outlook and said the company would continue (and increase) operating in equity derivatives, commodities, credit, mergers and acquisitions, cash trading, principal investments, proprietary trading, and more. These job cuts, again, are a direct consequence of the financial crisis.

Today in other news, the Dow plunged and happening now in after-hours trading, Japan’s Niki is trading already 5% down. Google’s stock is also taking a hit as its now trading below $300 per share, which is very significant because Read the full story

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