Maine’s unemployment rate holds steady at 7 percent

AUGUSTA – The Maine Labor Department says the state’s December unemployment rate was 7 percent, unchanged from the November figure.

Labor Commissioner Robert Winglass said Tuesday the preliminary 7 percent figure for December is also lower than the 7.5 percent rate a year earlier.

The number of unemployed totaled 48,700, down 3,800 from a year ago.

Maine’s unemployment rate for December is lower than the national rate of 8.5 percent, down from 8.7 percent in November and 9.4 percent one year ago.

The Labor Department says the state figures continue to be volatile and are subject to revisions.

Jitters about earnings, Greece send stocks down

NEW YORK – Stocks fell Tuesday on concerns that a deal to prevent a default by Greece might fall through.

A slew of U.S. corporate earnings Tuesday also did little to bolster investors’ confidence.

The Dow Jones industrial average closed down 33 points at 12,676. It has risen or fallen less than 100 points in 13 trading sessions, the longest calm stretch since March and April of last year.

The Standard & Poor’s 500 lost a point to close at 1,315. The Nasdaq added 2 points Tuesday to close at 2,787 after a day of wavering between small gains and losses.

Tech stocks could be in for a strong day today because Apple Inc. reported sharply higher earnings after the market closed Tuesday, trouncing analysts’ estimates.

Talks restart on how to pay for payroll tax cut, benefits

WASHINGTON – Negotiations on renewing a payroll tax cut for 160 million workers and jobless benefits for millions have kicked off on Capitol Hill, with both sides optimistic of an agreement despite last year’s bitter battles over President Obama’s jobs proposals.

The talks will focus chiefly on finding ways to finance the $10 billion-per-month cost of a 2 percentage point cut in Social Security payroll taxes that awards a worker making a typical $50,000 salary a tax cut of about $20 a week.

Lawmakers also need to pay for the $45 billion or so cost of renewing jobless benefits for people out of work for more than half a year.

Negotiators face a Feb. 29 deadline under a temporary measure enacted amid acrimony just before Christmas.

Court rules Samsung tablet doesn’t copy Apple’s iPad

THE HAGUE, Netherlands – Dutch appeals judges ruled Tuesday that Samsung’s Galaxy Tab tablet is not a copy of Apple’s popular iPad, handing the Korean consumer electronics maker its latest legal victory over its American rival.

The appeals court ruling upheld a lower court’s refusal to grant Apple Inc. an injunction banning the sale of Galaxy Tabs in the Netherlands.

Last year, Apple sued Samsung Electronics Co. in the United States, alleging its Galaxy devices “slavishly copy” the iPhone and iPad.

Samsung fought back with lawsuits of its own, accusing Apple of patent infringement of its wireless telecommunications technology.