News You Can Use for Thursday
Economy
Economy May Slow Tech Industry's Growth Just a few months ago, IDC was expecting the U.S. tech market to grow 5.5 percent in 2008. The company pushed its estimate down to 3 percent to 4 percent as the mortgage crisis heightened and rising high oil prices enhanced the prospect of a recession next year, IDC senior researcher Frank Gens Sr. said.
Surge in Auto-Loan Delinquencies Is Latest Trouble for the Economy Delinquencies in the auto-loan market are ticking up to their highest level in several years. Lenders are tightening terms in some cases, and interest rates have risen from the rock-bottom levels of a few years ago. About $575 billion in loans for new and used cars are made annually, according to the National Automotive Finance Association.
Bush, Paulson Forge Subprime Accord in Bid to Prolong Faltering Expansion President George W. Bush today will announce a freeze on some subprime mortgages in an effort to stop a wave of foreclosures undoing the six-year expansion.
ENERGY
Crude Oil Falls to Six-Week Low as Fuel Stockpiles Signal Demand Slowdown Crude oil fell to a six-week low on speculation that slower global economic growth may curb fuel consumption.
Study finds that linked wind farms can result in reliable power Wind power, long considered to be as fickle as wind itself, can be groomed to become a steady, dependable source of electricity and delivered at a lower cost than at present.
ASIA
Platinum Jewelry Sales May Increase in China for the First Time Since 2003 China's platinum jewelry sales, the world's biggest, may increase for the first time in four years, driven by rising incomes in the world's fastest-growing major economy, according to Johnson Matthey Plc.
GM Will Invest as Much as $5 Billion in China to Meet Growing Car Demand General Motors Corp., the world's largest automaker, plans to invest as much as $5 billion in China over the next five years to expand its share of the world's fastest-growing major car market.
Australia Cuts Commodity Earnings Forecast a 2nd Time on Currency, Drought Australia, the world's biggest exporter of coal, iron ore and wool, cut its forecast for commodity earnings for a second time this year because of drought and gains in the local currency
Economy May Slow Tech Industry's Growth Just a few months ago, IDC was expecting the U.S. tech market to grow 5.5 percent in 2008. The company pushed its estimate down to 3 percent to 4 percent as the mortgage crisis heightened and rising high oil prices enhanced the prospect of a recession next year, IDC senior researcher Frank Gens Sr. said.
Surge in Auto-Loan Delinquencies Is Latest Trouble for the Economy Delinquencies in the auto-loan market are ticking up to their highest level in several years. Lenders are tightening terms in some cases, and interest rates have risen from the rock-bottom levels of a few years ago. About $575 billion in loans for new and used cars are made annually, according to the National Automotive Finance Association.
Bush, Paulson Forge Subprime Accord in Bid to Prolong Faltering Expansion President George W. Bush today will announce a freeze on some subprime mortgages in an effort to stop a wave of foreclosures undoing the six-year expansion.
ENERGY
Crude Oil Falls to Six-Week Low as Fuel Stockpiles Signal Demand Slowdown Crude oil fell to a six-week low on speculation that slower global economic growth may curb fuel consumption.
Study finds that linked wind farms can result in reliable power Wind power, long considered to be as fickle as wind itself, can be groomed to become a steady, dependable source of electricity and delivered at a lower cost than at present.
ASIA
Platinum Jewelry Sales May Increase in China for the First Time Since 2003 China's platinum jewelry sales, the world's biggest, may increase for the first time in four years, driven by rising incomes in the world's fastest-growing major economy, according to Johnson Matthey Plc.
GM Will Invest as Much as $5 Billion in China to Meet Growing Car Demand General Motors Corp., the world's largest automaker, plans to invest as much as $5 billion in China over the next five years to expand its share of the world's fastest-growing major car market.
Australia Cuts Commodity Earnings Forecast a 2nd Time on Currency, Drought Australia, the world's biggest exporter of coal, iron ore and wool, cut its forecast for commodity earnings for a second time this year because of drought and gains in the local currency
Labels: Asia, australia, China, crude oil, platinum, US economy
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posted by Sean Brodrick @ 8:29 AM
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