Apple patents flexible iPhone and smart glasses

NEW YORK (CNNMoney)

Among 28 patents Apple was granted Tuesday is one for a "flexible electronic device" and another for smart glasses technology that could challenge Google Glass.

"Rigid electronic devices may be vulnerable to damage in the event of an impact such as a drop of the device on a hard surface," the first patent reads. "It would therefore be desirable to be able to provide improved electronic devices."

The patent includes two dozen drawings showing how a device -- say, an Apple (AAPL, Tech30) iPhone -- could be warped and contorted. It could include flexible screens, flexible batteries and flexible circuit boards.

The other patent describes a social media tool called Lifestream, which collects "notes, recordings and annotation data elements."

That would be incorporated in smart glasses similar to Google Glass. The patent describes technology like a facial recognition application to recognize other attendees at a meeting.

The news was uncovered by the blog Patently Apple, which meticulously follows Apple's patent applications.

Related: Apple starts selling unlocked iPhone 6

First Published: January 6, 2015: 9:41 AM ET

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Retreat: Oil sinks further below $50

NEW YORK (CNNMoney)

Crude dropped 2% to sink firmly below the $50 mark on Tuesday. It traded as low as $48.47 a barrel, leaving the commodity in territory untouched since May 2009 in the aftermath of the Great Recession.

The meltdown in oil -- fueled by oversupply and sluggish demand growth -- has caused crude to plummet 55% from its June peak of $107. Brent crude, the global benchmark, is also flirting with the $50 level.

That could be good news for American drivers who continue to be greeted by lower and lower gas prices.

The national average price for regular gasoline could soon tumble to $2.10 a gallon from about $2.19 right now, said Tom Kloza, global head of energy analysis at the Oil Price Information Service.

Pretty soon about 50% of U.S. gas stations will be selling gas for under $2 a gallon, Kloza said, compared with around 40% currently.

But the biggest break could come to drivers that need diesel fuel, which OPIS estimates will quickly break below $3 a gallon and take the sharpest fall during the first quarter.

Related: Cheap oil is killing my job

Even though oil prices have already come down dramatically, some analysts believe the enormous momentum to the downside could knock crude into the $30 range.

There's simply more oil than the market knows what to do with, thanks in part to soaring production from the U.S. and Canada.

While the "current market panic looks increasingly overdone," it is "perfectly conceivable that oil prices could fall further," Capital Economics wrote in a research note on Tuesday.

The latest selling comes as Saudi Arabia continues to dig in its heels in a price war with other oil producers, including the U.S.

Not only has Saudi Arabia insisted on maintaining OPEC oil production, but this week the country also slashed the price it charges for oil in the U.S., according to press reports.

Capital Economics said some U.S. shale firms face short-term operating costs of just $10 or $20 per barrel. However, other energy producers need higher prices to turn a profit. They are already dialing back on capital spending and laying off workers.

Related: Texas is in danger of an oil-fueled recession

First Published: January 6, 2015: 9:09 AM ET

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NYC home prices hit new record of $1.7 million

On average, it costs $1.7 million to live here.

NEW YORK (CNNMoney)

The average sales price for a Manhattan apartment rose to a new record of $1,728,831 million in the fourth quarter, up from $1,700,581 in the first three months of the year, according to Halstead Property.

Halstead is one of New York City's big real estate brokers, along with Douglas Elliman and Corcoran. All three released reports Tuesday on Manhattan's red-hot property market.

The reports pointed to strong demand for luxury apartments, which helped boost the average sales price. The median sales price, which measures sales at the mid-point, was $980,000, according to Elliman.

Related: 5 biggest threats to the housing market

It's been a banner year for apartment sales in Manhattan thanks to a strong local economy and low interest rates, said Diane Ramirez, chief executive of Halstead Property

At the same time, there's still a shortage of apartments in the borough.

While the number of homes for sale increased last year, it remains more than 50% below the high of 2009, according to Corcoran.

The low inventory "can be great for our sellers who price correctly but frustrating to our buyers," said Ramirez.

Related: Wealthy Russians aren't buying U.S. homes anymore

Related: New York City's most expensive rental costs $500,000 a month

First Published: January 6, 2015: 9:51 AM ET

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Car sales best since at least 2006

NEW YORK (CNNMoney)

Sales are being lifted by a variety of factors, including cheap gas prices, steady gains in the jobs market and the stock market near record highs, all of which can encourage buyers who had been putting off purchases to return to showrooms.

Increased availability of auto loans, especially to buyers with weaker credit histories, also helped to feed sales.

A record number of car recalls did little to scare away buyers. The 60 million recalled cars may actually have helped sales in the end, as owners of some of the older models that were cited for safety problems returned to dealerships to have their cars repaired and found deals on new cars.

Related: Best cars to buy

Full-year sales were certain to top 16.4 million for the first time since 2006. That was two years before the recession and the problems in the financial markets caused auto sales to plunge and sent General Motors (GM) and Chrysler Group (FCAM) hurtling into bankruptcy and government bailouts.

Sales in 2014 are expected to be up nearly 60% from the 10.4 million mark where the industry bottomed out 2009, a much faster recovery than expected at that time.

Related: A year of super-cool cars

The low gas prices also encouraged American car buyers to renew their love affair with trucks rather than smaller, fuel efficient cars, as sales of pickups, SUVs and crossover vehicles outpaced car models for the first time in three years.

Forecasts are that auto sales are expected to continue to post further gains once again in 2015, driven by most of the same factors that lifted sales in 2014. TrueCar is forecasting that sales should reach 17 million the first time since 2001.

First Published: January 5, 2015: 9:18 AM ET

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Marriott: We won't block Wi-Fi in your hotel room

Marriott says that it asked the FCC to let it block Wi-Fi in conference spaces -- not in hotel rooms.

NEW YORK (CNNMoney)

In fact, Marriott says it never planned to block guests' access. The hotel chain says its plans had been misunderstood.

Marriott (MAR) and the hotel lobby American Hospitality & Lodging Association asked the FCC this summer to allow hotels to deploy equipment that prevents people from turning their phones into Wi-Fi hotspots. Google and Microsoft are among the businesses that oppose Marriott's petition.

But Marriott said last week that it is only interested in blocking access to Mi-Fi devices in its conference spaces -- not its hotel rooms or lobbies.

"To set the record straight it has never been nor will it ever be Marriott's policy to limit our guests' ability to access the Internet by all available means, including through the use of personal Mi-Fi and/or Wi-Fi devices," the company said in a statement. "As a matter of fact, we invite and encourage our guests to use these Internet connectivity devices in our hotels."

In order to avoid pricey hotel Wi-Fi charges, many guests opt to use their data allotment from their cell phone provider, connecting their laptops to the Internet via their smartphones. At Marriott connection rates start at $14.95 per day. For $19.95, guests get "enhanced high speed Internet" which includes video chatting, downloading large files and streaming video.

Related: Google fights Marriott's plan to block Wi-Fi hotspots

Though Marriott says it is willing to concede those fees to Mi-Fi devices, its conference spaces present a different story.

The hotel chain said that conference attendees can launch cyberattacks on the company's network or disrupt Wi-Fi service for the conference or guests using Wi-Fi hotspots. That's why Marriott wants the FCC to give it permission to "detect and contain rogue and imposter Wi-Fi hotspots used in our meeting and conference spaces that pose a security threat."

Yet skeptics note that Marriott charges between $250 and $1,000 for conference exhibitors and attendees to use its Wi-Fi service, according to the FCC. Wi-Fi hotspots could eat into its profits.

Of the two dozen responses to Marriott's FCC petition, most argued that the hotel industry simply wants to keep charging people exorbitant rates for Wi-Fi.

A spokesman for Marriott did not respond to a request for comment about those accusations.

Google (GOOGL, Tech30), Microsoft (MSFT, Tech30), the wireless industry lobby and other wireless providers were among those that have asked the FCC not to accept Marriott's request.

Related: 5 ways to make your Wi-Fi faster

First Published: January 5, 2015: 8:29 AM ET

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Pope's car is 1st prize in Vatican raffle

LONDON (CNNMoney)

Pope Francis is holding a raffle to raise money for the poor and the top prize is his 4x4 Fiat Panda. But you can only buy the 10 euro tickets in the Vatican -- they're not available online.

Other items donated by the Pope include several bicycles, a camera, an espresso machine, a leather suitcase, and a panama hat.

All the prizes were presents to the leader of the world's 1.2 billion Catholics. The Vatican won't say who gave them, but it's clear from the list that some world leaders needn't worry about re-gifting.

The vegetable seeds given to the Pope by President Obama are not being raffled, nor is the honey produced in the Queen's gardens at Buckingham Palace.

All the money raised will go to charities supported by the Pope.

The raffle prizes include several bicycles given to the Pope.

Ticket holders who miss out on one of the 13 main prizes in Thursday's draw can still hope to get one of around 30 unspecified "consolation" prizes the Vatican will offer.

Related: Porsche rents Sistine Chapel for Pope's charity

First Published: January 5, 2015: 10:01 AM ET

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Oprah suffers Twitter backlash for comments about protesters

NEW YORK (CNNMoney)

In a recent interview, Winfrey explained what she would like to see emerge from the recent spate of protests against police killings, but what her comment sparked instead was a swift social media backlash.

Winfrey said she thought it was "wonderful" to see so many demonstrators take to the streets after recent grand jury decisions in Ferguson, Missouri and New York City to clear police officers involved in the deaths of unarmed black men.

But the billionaire media mogul also qualified her praise.

"What I'm looking for is some kind of leadership to come out of this to say, 'This is what we want. This is what has to change, and these are the steps that we need to take to make these changes, and this is what we're willing to do to get it,'" Winfrey told People magazine.

The comment sparked considerable push-back on Twitter after People published the interview online on Thursday evening. For much of Friday, Winfrey, who boasts more than 26 million followers on the social media site, was inundated with messages from individuals who took umbrage to her characterization of the movement.

"So MY question, @oprah, is are YOU the leader that many thought you were and that you purported yourself to be?!" asked Charles Wade, an activist who's been involved in the Ferguson protests.

He asserted that "this is about ticket sales," since Winfrey was being interviewed about "Selma," a new movie about the 1960s civil rights movement that she produced and appeared in.

DeRay Mckesson, another Ferguson activist, told Winfrey to "ask before you assume."

"I thought you taught us that -- the radical power of the question," Mckesson said. "Stand with us. There are many 'leading.'"

Jamilah Lemieux, a senior editor at Ebony.com, offered to introduce Winfrey to leaders involved in the protests aimed at countering police brutality and other excesses by law enforcement.

Shaun King, who blogs at the Daily Kos, said that Winfrey's wish was superfluous.

"Everything she says should happen already has," King said.

"Selma" has been met with widespread critical acclaim, and many commentators have noted that its story may resonate with moviegoers today.

David Oyelowo, who portrays Martin Luther King, Jr. in the movie, told Variety in November that the movie "feels very timely and very necessary."

And Winfrey told People that the movie contains a valuable lesson.

"I think what can be gleaned from our film is to take note of the strategic, peaceful intention required when you want real change," Winfrey said.

She did not reply to any of the protesters' comments on Twitter on Friday.

First Published: January 2, 2015: 7:46 PM ET

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