Apple CEO Steve Jobs emerged from medical leave to introduce a new version of the iPad, aiming to stay ahead of a stampede of tablet-computer rivals. The iPad 2, which goes on sale Friday, features a faster processor and front and rear cameras, so it can be used for videoconferencing. It's also lighter and thinner than its predecessor, though the price will stay the same. While the iPad 2 has few features that analysts hadn't predicted, it puts Apple one generation ahead of competitors. The company is squaring off against more than 100 tablet rivals, including products running Google's Android software and devices from Hewlett-Packard and Research In Motion. Jobs' reappearance, his first public event since taking his leave Jan. 17, helped assure investors that he has an active role at Apple. "He was here to make a statement that he's still very much involved," said Gene Munster, an analyst at Piper Jaffray. "That's just as big as the iPad announcement."
San Francisco Fed names its new president.
John Williams, a research director for the Federal Reserve Bank of San Francisco, was promoted to the president's job. He succeeds Janet Yellen, who's now vice chairwoman of the Fed's board in Washington. Williams, named to the post Tuesday, has served as executive vice president and research director in San Francisco since 2009 and worked in the Fed system since 1994. The 48-year-old will represent a nine-state Western region that accounts for 20 percent of the economy and has seen 73 commercial banks fail since 2004. Williams will participate in policy discussions and vote on the Federal Open Market Committee every third year, starting in 2012.
Amazon warns it will cut ties with 10,000 state affiliates: Amazon, the world's biggest online retailer, vowed to sever ties with more than 10,000 affiliates in California amid a dispute over proposed taxation of Internet purchases. The Seattle company made the threat because of legislation aimed at forcing it to collect sales tax from residents. In February, Amazon announced plans to close a Texas distribution site over a similar issue. The company's affiliates are compensated by putting ads for the retailer on their websites (they make money when someone clicks through and buys something). Californians could still shop at Amazon.com, though state businesses would miss out on those ad sales, potentially hurting tax revenue, the company said.
Peet's investors buzzing about Keurig deal
Shares of Peet's Coffee & Tea traded at record highs last week, lifted by speculation about a new partnership. The Emeryville company could soon start offering single-cup coffee packets for Keurig machines, opening up a significant growth opportunity, says Mitchell Pinheiro, an analyst at Janney Montgomery Scott. Peet's took an earlier stab at the market last year when it tried to acquire Keurig's parent company, Diedrich Coffee. (Green Mountain Coffee Roasters ended up trumping Peet's offer.) A new agreement to supply Keurig packets could be announced during the International Housewares Show in Chicago, which starts today, Pinheiro says.