Sectors
Alibaba does not want to be listed under "Notorious Market" list for this year
China biggest e-commerce company, Alibaba is currently improving their effort to engage with the U.S. Trade Representative to make sure its site will stay out from the agency's list of websites selling pirated and counterfeit goods. The company's affair chief, Eric Pelletier is among the person responsible in lobbying the agency.
IBM revenue down for the 14th quarter, cuts profit forecast
International Business Machines Corp (IBM) has announced more than projected fall in revenues as the stronger US currency put pressure on demand from China and other emerging economies. As a result, IBM has lowered its profit forecast for the full year. The revenues were down 13.9 percent to $19.28billion for the quarter ending September as against the forecast of $19.62bn. The latest drop in revenues marks the continuous fall for 14 quarters in a row.
China cloaks weakest growth since 2009
The world's second largest economy witnessed its lowest growth rate in the last two decades. China's gross domestic product (GDP) growth rate dipped below seven percent during the third quarter for the first time after the financial crisis. A record of 6.9 percent, below the Chinese government's target of seven percent and slightly better than the forecasted 6.8 percent. This is translating into more pressure on the Chinese government to lower interest rates and some measures to strengthen the growth rate.
U.S. wastes billion dollars every year for binge drinking
Too much drinking is not only bad for the health but also seeps out the U.S. economy. The Centers for Disease Control and Prevention (CDC) released a study on Thursday that binge drinking loses the economy a humongous "$249 billion in 2010, or $2.05 per drink, a significant increase from$223.5 billion, or $1.90 per drink, in 2006."