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Hundreds of workers are getting the pink slip and Apple is rolling out a major update to one of its most popular apps. Here's the Thursday Bloomberg After The Bell Report from the New York Stock Exchange.
Apple unveiled its latest update to iTunes. The media service has a new look and feel and is integrated more closely with Apple's iCloud Internet Storage Service. The new version of iTunes was originally supposed to be released last month, but Apple said it needed more time to develop the changes, which are intended to make it easier to search and discover new content.
Microsoft plans to release a surface tablet running on its new Windows 8 Pro software in January. These will be the first of the devices running on Intel chips, which Microsoft says will give them a graphics boost.
Stocks closed higher after Treasury Secretary Tim Geithner headed to Capitol Hill for fiscal cliff negotiations.
There’s trouble for the daily deal site LivingSocial. The Washington, D.C. company is cutting about 400 staff positions to reduce costs. Sources say these cuts are across most of its divisions and most of the affected staff should be informed on Thursday.