Monthly Archives: December, 2009
Chinese Slapped in Steel Dispute
Trade Panel Rules That Subsidized Imports Damaged the U.S. Industry
By KRIS MAHER and HENRY J. PULIZZI
AP/Getty images
A labourer works at a steel plant in Huaibei in eastern China’s Anhui province.
U.S. steelmakers won a case over Chinese steel imports, as the U.S. International Trade Commission voted that the domestic industry has been damaged by subsidized steel [...]
Outsourcing Isn’t Just for Christmas
LIAM DENNING
Another Christmas, another triumph for the world’s foremost exponent of vertical integration.
Imagine if Santa Claus outsourced instead. Pinkerton might be hired to keep tabs on how well children behaved. Toys would no doubt be churned out in Chinese factories rather than Polar workshops. Santa could stay home and brainstorm with his elves on brand [...]
RC2 Corp. to pay $1.25 million penalty for selling Thomas & Friends toys containing lead
Laurie Kellman, Associated Press Writer
WASHINGTON (AP) — An Illinois firm agreed to pay a $1.25 million settlement for importing and selling Thomas & Friends children’s toys that contained lead levels above legal limits and risked sickening children.
In agreeing to the penalty settlement, RC2 Corp. denied that it knowingly violated federal law as alleged by the [...]
China Plea Dismissed by WTO
JOHN W. MILLER
The World Trade Organization on Monday dismissed an appeal from Beijing over the WTO’s August ruling against Chinese restrictions on distribution of Hollywood movies and other Western media, sealing one of China’s biggest-ever losses at the WTO.
The decision, if implemented by China, could prove lucrative for U.S. and other foreign companies. Despite its [...]
How to Live Happily on 75 Percent Less
By Rick Newman
Nine months after getting laid off, Catherine Goerz once again became part of the rush-hour commute–in a way she’d never anticipated.
To pick up extra cash, Goerz took a temporary job handing out fliers touting the benefits of public transportation in the San Francisco subway system. Occasionally she’d bump into people she knew from [...]
China’s Curbs on Tech Purchases Draw Ire and Chinese “Protectism”
U.S. Government, Dozens of Global Industry Groups Speak Against Push for State Agencies to Buy ‘Indigenous Innovation’
By LORETTA CHAO
BEIJING — China has rolled out regulations that could curb billions of dollars worth of sales of high-tech gear to government agencies, raising cries from companies across the globe and from the U.S. government.
More than 30 industry [...]
US retail sales up 1.3% in time for holidays
WASHINGTON (AFP) – US retail spending jumped 1.3 percent in November led by auto and electronics sales, government data showed Friday in a positive economic sign amid the critical holiday shopping period.
The Commerce Department report, seen as a key to renewed economic growth, was much stronger than analyst expectations for a 0.6 percent rise.
Some special [...]
October trade deficit drops to $32.9 billion
MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON – The U.S. trade deficit unexpectedly narrowed in October as exports surged to the highest level in nearly a year. Growing exports, boosted by a weaker dollar, are expected to boost demand for American manufactured goods in coming months and provide important strength to the overall economic recovery.
The [...]
New jobless claims rise more than expected to 474K
CHRISTOPHER S. RUGABER, AP Economics Writer
WASHINGTON – The number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks.
Despite the increase, claims have fallen steadily since this summer, a sign that job cuts are slowing and hiring could pick up as soon as early [...]
Poll: 84% of Americans think economy still in recession
Chris Isidore, CNNMoney.com senior writer
Economists are in broad agreement that the Great Recession is over. The American public strongly disagrees.
In a poll of more than 1,000 Americans conducted late last week by CNN/Opinion Research Corporation, 84% of those surveyed believe that the economy is still in recession.
That’s a slight improvement from the 87% who [...]