Archive for the 'Economy' Category
GM Plans China-Made Vehicles for U.S.
May 14th, 2009HA. In other news, Ford is retooling an old SUV factory to produce electric vehicles and hybrids. Via: Reuters: General Motors Corp. plans to begin exports of vehicles made in China to the United States within two years, ramping up sales to more than 50,000 by 2014, reports said Wednesday. A spokeswoman for GM in […]
GM, Chrysler to Cut up to 3,000 Dealers
May 14th, 2009Via: Reuters: General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said. GM, facing a U.S. government-imposed deadline of June 1 to restructure or file for bankruptcy, is expected to send […]
EU Slaps a Record Fine on Intel
May 13th, 2009Via: BBC: Computer chipmaker Intel has been fined a record 1.06bn euros ($1.45bn; £948m) by the European Commission for anti-competitive practices. It dwarfs the 497m euro fine levied on Microsoft in 2004 for abusing its dominant market position. The Commission found that between 2002 and 2007, Intel had paid manufacturers and a retailer to favour […]
U.S. Foreclosure Filings Hit Record for Second Straight Month
May 13th, 2009Via: Bloomberg: Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers. A total of 342,038 properties received a default or auction notice or were seized last month, RealtyTrac Inc. of Irvine, California, said today in a statement. One […]
Did the Swine Flu Evolve in a Lab?
May 13th, 2009Via: Edmonton Sun: The World Health Organization and leading influenza research groups are investigating unpublished claims that the new H1N1 swine flu virus may have evolved in a laboratory, not in nature. The Geneva-based agency was informed of the pending publication over the weekend by the author, a retired Australian virologist named Adrian Gibbs. It […]
Hospitals Begin to Move Into Supermarkets
May 12th, 2009Via: New York Times: As walk-in clinics at stores like CVS and Wal-Mart offer convenient alternatives to doctors’ offices and hospital emergency rooms, some hospitals are fighting back — with walk-in clinics at some of those same retailers. Around the country, hospitals are now affiliated with more than 25 Wal-Mart clinics. The Cleveland Clinic has […]
Russia Stockpiles Diamonds, Awaiting the Return of Demand
May 12th, 2009Via: New York Times: The global recession sapped demand for all kinds of commodities — like steel and grain — yet small burlap bags are still arriving by the planeload at Russia’s state-owned diamond company. Each day, the contents of the bags spill into the stainless steel hoppers of the receiving room. The diamonds are […]
Spitzer on New York Fed: “The Most Powerful Financial Institution Most Americans Know Nothing About”
May 12th, 2009Via: Slate: A quasi-independent, public-private body, the New York Fed is the first among equals of the 12 regional Fed branches. Unlike the Washington Federal Reserve Board of Governors, or the other regional fed branches, the N.Y. Fed is active in the markets virtually every day, changing the critical interest rates that determine the liquidity […]
U.S. Federal Reserve Inspector General on Who Received the Bailout Money
May 12th, 2009Via: YouTube: Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
Elsevier Published Six Fake Medical Journals
May 11th, 2009Via: Guardian: The relationship between big pharma and publishers is perilous. Any industry with global revenues of $600bn can afford to buy quite a lot of adverts, and pharmaceutical companies also buy glossy expensive “reprints” of the trials it feels flattered by. As we noted in this column two months ago, there is evidence that […]
