The dome of the Capitol is reflected in a puddle in Washington February 17, 2012.REUTERS/Kevin Lamarque

Another debt ceiling debacle could sink the economy

Last year's Congressional debt standoff hurt consumer confidence more than the collapse of Lehman Brothers, Betsey Johnson and Justin Wolfers write. This time could be worse.  Read more at Counterparties  

Apple says iPhone models to cost $499 and $599

SAN FRANCISCO | Tue Jan 9, 2007 2:53pm EST

SAN FRANCISCO (Reuters) - Apple Computer Inc. Chief Executive Steve Jobs said on Tuesday the company's new iPhone with 4 gigabytes of flash memory would cost $499 and a model with 8 gigabytes of flash memory would sell for $599.

Speaking at the company's Macworld conference, Jobs said the device that has a touch-screen and combines features from the popular iPod music player and smart phones would ship in June in the United States and during the fourth quarter in Europe. It would be available in Asia in 2008.

He said the U.S. cellular partner was AT&T's cellular unit, Cingular Wireless.

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