iPhone Price Cut Angers Some Apple Customers (2/2)

At the same time, they note that the price cut will make it easier for Apple to meet its goal of selling one million iPhone units in the United States by the end of this month.

In other news, the number of American homeowners in danger of losing their property continues to grow. More than one in 20 homeowners are behind in their mortgage payments, and the U.S. Mortgage Bankers Association reports that the number of foreclosure proceedings has reached all-time highs in each of the last three quarters.

America's housing and mortgage industries have been hard-hit by upheaval in the so-called "sub-prime" market, referring to loans with higher interest rates designed for those with poor credit. The upheaval is blamed for recent stock market volatility across the globe.

In more positive news, the U.S. Labor Department is reporting greater than expected gains in U.S. productivity, while jobless claims in the United States fell last week for the first time in nearly two months.