A company in Massachusetts says its prototype, the Transition, completed its first flight, soaring to 1,400 feet. The two-seater will be ready for sale within a year and is expected to cost $279,000. A hundred buyers have already plunked down their deposits.
Mobile games like Angry Birds and Draw Something have gained huge popularity partly because of one asset: simplicity. As a result, the traditional video game industry is taking note. But not all of them are following the same route.
Cars manufactured in the United States are getting better. Analysts say it feels like the U.S. has entered a "golden age" of vehicle quality and reliability. Quality has been rising over the years, and the gap between the best and the worst is shrinking.
Cosmetics company Avon has rebuffed a $10 billion buyout offer by Coty — a company known for products like its Lady Gaga and Calvin Klein fragrances. Avon says the Coty bid undervalues the company. Avon has annual revenue of more than $11 billion.
The city of Detroit is rapidly running out of cash. Michigan's governor wants the state to either help run the city's finances or impose an emergency manager with total authority over budgetary matters. A final decision will be made this week.
Former NBC Today show host Katie Couric hosts ABC's Good Morning America this week. Media watchers wonder whether Couric's fill-in stint can generate enough interest to knock Today out of its top morning ratings slot. David Greene talks about it with Brian Stelter of The New York Times.
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