Worldwide Business News

Zakaria: How Long Will America Lead the World?
MSNBC - June 12, 2006 issue - Queen Victoria’s Diamond Jubilee, held in London on June 22, 1897, was one of the grandest fetes the world has ever seen: 46,000 troops and 11 colonial prime ministers arrived from the four corners of the earth to pay homage to

Administration upbeat about economy
MSNBC - WASHINGTON - The White House, in a slightly more optimistic forecast, predicted Thursday the economy will log solid growth and that the nation s unemployment rate will dip lower this year. The Bush administration forecast that the gross domestic

Singapore’s Economy May Grow 6.7 Percent
MSN MoneyCentral - SINGAPORE (AP) - Singapore’s economy could grow 6.7 percent this year, higher than previously predicted, according to a quarterly central bank survey of economists. The figures, released Wednesday, are based on the median forecast of 20 economists

Fed’s Kohn sees inflation data as “warning flag”
WIS-TV - WASHINGTON (Reuters) - Federal Reserve Board Governor Donald Kohn, the nominee to be No. 2 at the U.S. central bank, said elevated inflation readings had raised a “warning flag” that demanded the attention of policy-makers. “I have found the recent

FFA convention gives boost to area economy
Hattiesburg American - The Mississippi Future Farmers of America Association’s annual convention in Hattiesburg this week is expected to bring approximately $235,000 into the local economy. The three-day event at the Lake Terrace Convention Center was attended by more than

Toll Sees Rebound of Housing Market
MSN MoneyCentral - PHILADELPHIA (AP) - A strong economy will spark a housing market rebound after excess inventory from speculators is shaken out, perhaps very soon, the chief executive of the nation’s largest luxury home builder said Thursday. At a meeting with

Greenspan: Economy absorbed high oil costs
Winston-Salem Journal - The former chairman of the Federal Reserve, Alan Greenspan, said yesterday that higher oil prices have had “little consequence” for the U.S. economy and probably haven’t caused “serious erosion” worldwide. Recent data, though, may indicate “some

High energy costs threaten economy
Detroit Free Press - WASHINGTON — Rising energy prices are pushing up inflation and increasingly threaten the U.S. economy, former Federal Reserve Chairman Alan Greenspan testified Wednesday. He called for developing alternative energy sources like ethanol and liquefied

Bush lifts forecasts for growth and inflation
ABC News - Jun 8, 2006 WASHINGTON (Reuters) - The White House boosted its estimate of U.S. economic growth in 2006 but offered a more pessimistic view of inflation in new forecasts released on Thursday. The Bush administration lifted its forecast for gross

The Economy
Evansville Courier-Press - The White House push to win President Bush credit for the performance of the U.S. economy is off to a shaky start. The White House was still basking in the glow of the president’s choice of Wall Street whiz Henry Paulson to be treasury secretary when

Dim view of economy spreads
Times Union - COLONIE — New Yorkers are still down on the economy. Only now, the usually more optimistic parts of the country are starting to see things our way. Consumer confidence climbed 3 points in May across New York state, to 76.8 points, according to the

State economy growing faster than average
Coloradoan - Colorado’s economy is growing faster than the national average, according to a study by the U.S. Bureau of Economic Analysis. Colorado’s gross state product, or GSP, increased 4.2 percent in 2005, up from 3.9 percent in 2004 and 1.4 percent in 2003

U.S. weekly jobless claims fall by largest amount in eight months
680 News - WASHINGTON (AP) - The number of laid off U.S. workers filing claims for unemployment plunged last week by the largest amount in eight months, but it might have been a statistical fluke. The Labour Department reported Thursday that 302,000 people

White House Upbeat About Economic Growth
ABC News - WASHINGTON Jun 8, 2006 (AP) The White House, in a slightly more optimistic forecast, predicted Thursday the economy will log solid growth and that the nation’s unemployment rate will dip lower this year. The Bush administration forecast that the

ECONOMY: Execs tout business climate
Grand Forks Herald - WASHINGTON - Despite rising prices for energy and other materials, America’s chief executives feel pretty good about the business climate and are bullish about their sales prospects, according to a survey released Wednesday. The Business Roundtable’s

Bernanke: US inflation rising to ‘unwelcome’ levels 
AFP via Yahoo! News - Jun 05 11:50 AM
Federal Reserve chairman Ben Bernanke said that the US economy is clearly flagging but that inflation has risen to “unwelcome” levels that will require vigilance from the central bank.Save to My Web

Tokyo stocks slip on US economy fears 
FT.com via Yahoo! News - Jun 05 12:50 AM
Japan stocks fell on Monday, hit by fears over the US economy. The Nikkei 225 was down 0.8 per cent to 15,668.31. The Topix fell 0.7 per cent to 1,594.92.Save to My Web

Wage growth poses no risk to Czech economy — analysts 
Prague Daily Monitor - Jun 05 10:58 PM
Prague, June 5 (CTK) - Wage growth in the first quarter is in line with economic development and poses no risk to the Czech economy, analysts polled by CTK have said.Save to My Web

IMF Official Warns Latvia on Economy 
AP via Yahoo! Finance - 50 minutes ago
An International Monetary Fund official monitoring Latvia’s economy said Tuesday the government should take steps to slow its growth to stop it from overheating.Save to My Web

New Bolero variants offer greater power, fuel economy 
New Kerala - 2 hours, 17 minutes ago
Mumbai: Mahindra & Mahindra’s newly launched Bolero SLX comes equipped with sophisticated features such as keyless entry, a four-speaker music system, extra smooth suspension and a door open warning.Save to My Web

Study: Economy Grows Slower 
The Ledger - Jun 06 3:15 AM
The service sector of the U.S. economy expanded in May, but at a slower pace than in April, a private survey of supply managers said Monday. The report offered a possible indication that fuel prices are starting to crimp growth in the service sector, which accounts for two-thirds of the U.S. economy. The survey by the Institute for Supply…Save to My Web

Service portion of economy slowed in May, survey says 
Minneapolis-St. Paul Star Tribune - Jun 05 7:41 AM
NEW YORK The service sector of the U.S. economy expanded in May, but at a slower pace than in April, a private survey of supply managers said on Monday. The report is a possible indication that fuel prices are starting to crimp growth in the service sector, which accounts for two-thirds of the U.S. economy. The survey by the Institute for Supply Management indicated concern about the prices of Save to My Web

Fed’s Poole: slowing economy won’t reduce inflation 
Reuters via Yahoo! News - 1 hour, 13 minutes ago
If inflation expectations are rising, a slowing economy may not reduce inflation pressures, said St. Louis Federal Reserve President William Poole, quoted in the Wall Street Journal.Save to My Web

European Service Industries Grow Most in Six Years (Update2) 
Bloomberg.com - Jun 06 3:14 AM
June 6 (Bloomberg) — European service industries grew at the fastest pace in almost six years in May, indicating a strengthening economy as the region’s central bank prepares to raise interest rates.Save to My Web

U.S. service economy grows at slower pace in May 
Provo Daily Herald - Jun 06 12:23 AM
NEW YORK — The service sector of the U.S. economy expanded in May, but at a slower pace than in April, a private survey of supply managers said on Monday. The report offered a possible indication that fuel prices are starting to crimp growth in the service sector, which accounts for two-thirds of the U.S..Save to My Web

Croatia’s tourism industry takes on grey economy 
Reuters.co.uk - Jun 05 3:19 AM
DUBROVNIK, Croatia (Reuters) - Dazzling cruise ships are anchored in the azure waters off the stone-walled port and tourists throng the narrow marbled alleys of this medieval city.Save to My Web

US service sector weakens in May: ISM 
AFP via Yahoo! News - 1 hour, 56 minutes ago
The US economy’s all-important services sector weakened in May, the Institute for Supply Management said.Save to My Web

Up north, the worry on border is economic 
USATODAY.com via Yahoo! News - Jun 05 4:40 AM
Some people along the U.S.-Canadian border believe security is already too tight and that a law requiring U.S. citizens to show passports or new ID cards containing computer chips - instead of driver’s licenses - to cross the border is another threat to the local economy.Save to My Web

Stocks fall on economic, oil price worries 
Reuters via Yahoo! News - 7 minutes ago
U.S. stocks fell on Monday as higher oil prices and concerns about a slowing economy pulled down shares of large manufacturers and home builders, companies especially vulnerable to swings in the business cycle.Save to My Web

Dell Job Additions To Boost Economy 
WKRN Nashville - 2 hours, 9 minutes ago
The number one computer maker is expanding its operations in Middle Tennessee, opening doors for many new jobs. On Friday, Dell announced it will add up to 1,000 jobs in Tennessee as it expands customer service operations. The addition of jobs will mean a big boost to Nashvilles economy. On Monday, Richard Lawson of … Save to My Web

Non-Manufacturing Sector Slows In May 
Industry Week - 1 hour, 49 minutes ago
June 5, 2006 — As in the manufacturing sector, the growth rate of the non-manufacturing sector of the U.S. economy slowed in May, according to data released June 5 by the Institute for Supply Management (ISM), Tempe, Ariz. Its business activity index for non-manufacturing, which includes mining, construction, business services, and finance and banking, slipped to 60.1% last month from 63% in Save to My Web

Economy May Be Heading for Less Sunny Days 
ABC News - Jun 04 10:04 AM
Economy May Be Heading for Less Sunny Days After Growing at Strong Pace at Beginning of YearSave to My Web

Service portion of economy slowed in May, survey says 
Minneapolis-St. Paul Star Tribune - 2 hours, 9 minutes ago
NEW YORK The service sector of the U.S. economy expanded in May, but at a slower pace than in April, a private survey of supply managers said on Monday. The report is a possible indication that fuel prices are starting to crimp growth in the service sector, which accounts for two-thirds of the U.S. economy. The survey by the Institute for Supply Management indicated concern about the prices of Save to My Web

World Bank not yet ready to play a role in North Korea’s economy: Wolfowitz 
Canadian Business - Jun 03 10:43 AM
SEOUL, South Korea (AP) - The World Bank could potentially play a role in North Korea’s economy though is not yet ready to do so, Paul Wolfowitz, the institution’s president, said this week.Save to My Web

Festival ‘worth 18m to economy’ 
BBC News - Jun 04 5:31 PM
Organisers say public agencies should become involved so T in the Park can reach its full potential.Save to My Web

Why equity returns will be low despite strong economy 
Business Report - Jun 01 9:35 PM
Pundits justify the run in the stock market by referring to the strong economy. Actually, economic growth has little to do with equity returns at any particular time.Save to My Web

A Look at the Iranian Economy 
AP via Yahoo! Finance - May 31 12:28 PM
A snapshot of Iran’s economy: —— OIL AND GAS: Iran is estimated to have between 7 percent to 9 percent of the world’s known oil reserves and about 15 percent of natural gas reserves.Save to My Web

Economy shows signs of slowdown 
The Santa Rosa Press Democrat - 1 hour, 33 minutes ago
WASHINGTON - The U.S. economy appears to be shifting into a lower gear with residential construction falling sharply and manufacturing activity slowing.Save to My Web

SKorea’s Economy Grows Revised 1.2 Percent 
KiplingerForecasts.com - 1 hour, 3 minutes ago
South Korea’s economy expanded 1.2 percent in the first quarter, slightly lower than initially estimated, the central bank said Friday. In late April, the Bank of Korea said the economy grew 1.3 percent in the three months ended March 31 from the previous quarter.Save to My Web

Mounting consumer worries about economy trouble analysts 
The Santa Rosa Press Democrat - Jun 01 4:16 AM
NEW YORK - Consumers seem to be growing more uneasy about the economy by the day - they’re fretting about gas prices, inflation, the housing market, rising interest rates and their jobs. The question is, how anxious do they have to be before they curtail their spending at stores and malls?Save to My Web

Economy ‘led by business investment’ 
Sydney Morning Herald - May 31 10:14 PM
The Australian economy is increasingly being led by business investment, Treasurer Peter Costello has said. Mr Costello said the latest capital expenditure figures showed a 0.6 per cent in business investment in the March quarter. Over the full year, capital expenditure is up 29 per cent.Save to My Web

Economy holds good news - for the rich 
USATODAY.com via Yahoo! News - 2 hours, 48 minutes ago
The American economy grew by 5.3% in the first quarter of 2006, and the unemployment rate, at 4.7% in April, is the lowest it has been in years, prompting Secretary of Commerce Carlos Gutierrez to say that this year, “the American economy hit the ground running.”Save to My Web

Brazil Economy Grew 3.4% in 1st Qtr From Year Earlier (Correct) 
Bloomberg.com - May 31 6:17 AM
(Corrects to add missing words in second paragraph.) May 31 (Bloomberg) — Brazil’s economy, Latin America’s biggest, grew at the fastest pace in three quarters in the January-March period as declining interest rates boosted demand for cars, furniture and clothes.Save to My Web

Speaker Hastert Hails Strong Economy 
[Press Release] U.S. Newswire via Yahoo! News - 34 minutes ago
House Speaker Dennis Hastert (R-Ill.) released the following statement in response to the report by the U.S. Department of Labor report on Friday showing that the U.S economy continued to strengthen with the unemployment rate falling to 4.6 percent, lower than the averages of the 1970s, 1980s and 1990sSave to My Web

Signs of Slowing Economy 
Los Angeles Times - Jun 02 12:03 AM
Spending on home construction falls, and a manufacturing index hits its lowest level in nine months. Data on inflation are mixed.Save to My Web

Economy roars ahead in first quarter 
Reuters via Yahoo! News - May 31 1:08 PM
Canada’s economy powered ahead in the first quarter by a stronger-than-expected rate of 3.8 percent on an annualized basis as consumers cranked up spending, increasing the chances of another interest rate hike by the Bank of Canada.Save to My Web

New reports indicate economy slowing 
The Philadelphia Inquirer - Jun 02 12:40 AM
The U.S. economy appears to be shifting into a lower gear, with residential construction falling sharply and manufacturing activity slowing, according to reports released yesterday.Save to My Web

Economy signals possible cooling to lower gear 
The Pueblo Chieftain - 3 minutes ago
WASHINGTON - The U.S. economy may be shifting into a lower gear with residential construction easing and manufacturing activity slowing. The big question: Will the slowdown come in time to keep inflation from heating up? Investors received mixed signals on inflation in a raft of new economic data on Thursday, with a key gauge of wage inflation posting an improved reading while a barometer of Save to My Web

U.S. Treasuries Rise on Weaker-Than-Expected Employment Report 
Bloomberg.com - 50 minutes ago
June 2 (Bloomberg) — U.S. Treasury notes rose after a government report showing the economy created fewer jobs than expected last month bolstered the view higher interest rates and energy prices will slow growth in the second half of the year.Save to My Web

The Economy | Inflation gauges: Less than perfect 
The Philadelphia Inquirer - Jun 02 12:42 AM
Wall Street is nervous because investors don’t know what the Federal Reserve will do about interest rates. The Federal Reserve is unsure about interest rates because it’s not sure what’s happening with inflation.Save to My Web

Oreo Cookie Cows
WCAX - NEW YORK Stocks closed higher for a third straight session today, giving Wall Street a gain for the week for the first time since early May. The Dow Jones industrial average closed up 67 and a-half points at eleven-thousand-278, and up 134 points on

Efficient SUV Not an Oxymoron Just Yet
Ledger - Don’t give up on sport utility vehicles just because gasoline prices have spiked. Believe it or not, there are some SUVs out there that offer good utility and decent fuel economy. And they’re not just the new gasoline-electric hybrids that have come

Global Dispatches: EU Slow to Make Progress on ‘Digital Economy’
Computerworld - ” The Department of Veterans Affairs and the FBI are offering a Read more ” The Department of Veterans Affiars is starting to take steps to cover the costs of the recent loss of 26.5 ” Read more BRUSSELS — The European Commission has accused

Upfront: Debt, Dummies and dugouts
Wisconsin State Journal - This week’s episode is brought to you by my dad, who died years ago but gave me two of the three most important lessons in all of life: No. 1: You can’t drink yourself sober. No. 2: You can’t borrow yourself out of debt. Later, on my own, I learned

Volatility to create increased sensitivity to data
MSNBC - Heightened sensitivity to forthcoming economic figures is expected in global financial markets this week after the recent upswing in volatility. The US economy is forecast to decelerate in the second half of the year and this week’s data releases

For future reference
Republic - Lately, the idea of having a vision has taken on a negative connotation. This is a shame, but it s not surprising. Many business owners, key executives and community leaders feel a tremendous amount of anxiety in dealing with such a lofty concept

Plunging tiger, booming dragon? Don’t panic
Willits News - IT’S ALL a bit disorienting. Indian stocks, among Asia’s star performers, are plunging, while Chinese shares, those perennial laggards, are surging. It’s a startlingreversal of fortune by Asia’s sexiest markets, and raises a question: Are investors

U.S. ally is expected to roll to second term
Silicon Valley - BOGOTA, Colombia — If there’s such a thing as a safe bet in politics, it’s that President Alvaro Uribe will win Colombia’s presidential election today. Leading his closest rival by 30 points in the latest polls, the U.S. ally appeared headed toward

Remember And Resist
TomPaine.com - James Carroll’s column appears regularly in the Globe. Today’s observance has its origins in the laudable impulse to memorialize those who died in the nation’s wars. Because that impulse is tied to grief, however, the remembering is narrow. Its

Merchants come together to push for earlier rafting season
Sierra Sun - As far as Tahoe City businesses are concerned the message is clear: A decreased rafting season translates into a deflated economy. The North Lake Tahoe Chamber of Commerce and the Tahoe City Downtown Association have plans to draft a letter on behalf

Aeroplan devising new way to cash in points
Globe and Mail - The heart of Aeroplan Income Fund’s new grid for redeeming rewards will be a $20-million computer system that scrutinizes supply and demand for Air Canada flights before luring consumers to cash in their points. Rupert Duchesne, Aeroplan’s chief

Ford CEO Weathers Criticism at Meeting
Associated Press - WILMINGTON, Del. (AP) — Ford Motor Co. Chairman and Chief Executive Bill Ford on Thursday reiterated his pledge not to accept a salary or bonus until the company’s automotive operations return to profitability, but the action didn’t satisfy every

Asimov’s First Law: Japan Sets Rules for Robots 
SPACE.com / LiveScience.com via Yahoo! News - May 26 8:00 AM
Japan’s Ministry of Economy, Trade and Industry is working on a new set of safety guidelines for next-generation robots. This set of regulations would constitute a first attempt at a formal version of the first of Asimov’s science-fictional Laws of Robotics, or at least the portion that states that humans shall not be harmed by robots.Save to My Web

Economy On Hot Pace 
CBS News - May 25 9:06 AM
The U.S. economy grew at a 5.3 percent annual rate in the first three months of this year, the fastest in 2? years and stronger than first estimated, the Commerce Department reported.Save to My Web

US economy wobble 
The Hindu - May 25 12:20 PM
The US economy is giving off quite a few negative signals: A huge current account deficit of around 6.3 per cent of GDP; the Fed hiking the benchmark rate; a relatively high level of uneployment; and the low domestic savings rate.Save to My Web

Economy booms in first quarter 
The Santa Rosa Press Democrat - May 26 4:18 AM
WASHINGTON - The economy showed even more pep than expected in the first quarter, zipping ahead at a 5.3 percent pace. But a less energetic housing market and high energy prices are now taking out some of the oomph.Save to My Web

European Stocks Rise for 2nd Day; Unilever, ThyssenKrupp Gain 
Bloomberg.com - May 26 9:45 AM
May 26 (Bloomberg) — European stocks rose for a second day, their first back-to-back gain in two weeks, on optimism that the global economy will expand fast enough to maintain earnings growth.Save to My Web

Hungarian press review 25/05/2006 - Government & Economy 
Interfax - May 24 11:44 PM
BUDAPEST. MAY 25. INTERFAX CENTRAL EUROPE - NEW CABINET TO GOVERN WITH 13 MINISTRIES. According to reports, the new cabinet of PM Ferenc Gyurcsany will have 13 ministries. As the talks stand, junior governing partner SZDSZ has been presented with the economy, environment and foreign departments.Save to My Web

Economy raced even faster in 1Q 
The Pueblo Chieftain - May 26 6:50 AM
WASHINGTON - The economy showed even more pep than initially thought in the first quarter, zipping ahead at a 5.3 percent pace. A slightly less energetic housing market and energy prices are now taking out some of the oomph, federal agencies reported Thursday. We will see softening in the economy, but theres no reason to be pessimistic, said Nariman Behravesh, chief economist at Global Save to My Web

Housing market may slow economy 
The Clarion-Ledger - May 26 3:05 AM
WASHINGTON The economy sprinted during the opening quarter of 2006 but may slow to a more leisurely jog through the rest of the year. Economic activity zipped ahead at a 5.3 percent pace in the January-March period, even speedier than initially thought.Save to My Web

Gas prices push economy rental demand 
Lincoln Journal Star - 1 hour, 38 minutes ago
As gas prices have increased, rental demand for economy and mid-sized cars has increased, local car rental employees report. Michael Van Cleave was flying solo on a business trip, not a family vacation, when he landed in Lincoln after a red-eye flight a few days ago.Save to My Web

Economy Zooms in 1st Quarter 
San Francisco Chronicle - May 25 1:23 PM
The economy showed even more pep than initially thought in the first quarter, zipping ahead at a 5.3 percent pace. But a less energetic housing market and high energy prices are now taking out some of the oomph. “I think we sort of had the last hurrah… Save to My Web

INDUSTRY & ECONOMY 
The Hindu - 1 hour, 25 minutes ago
CLIMATE & WEATHER US expert sees drenchers ahead A well-known US meteorological expert says that prevailing weather indicators suggest persistent rainfall for the next five to seven days between a strong monsoon `low’ off southern Arabia and the Kerala (even Karnataka) coast. “This upper low …Save to My Web

Kroszner: Data need to evolve as economy does 
Reuters via Yahoo! News - May 24 9:05 AM
U.S. government statistical agencies need to be “nimble” to ensure their data respond to changes in the economy and should focus more heavily on the most dynamic sectors, Federal Reserve Board Governor Randall Kroszner said on Wednesday.Save to My Web