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March 2008
- US May Move to Restrict H-1B Visa 'Cheaters'
  
  ComputerWorld | Mar 7, 08 8:11 PM CST
  
  (Newser) - The US is expecting a record number of applications for H-1B visas—given to highly skilled, specialized foreign workers—and is considering rules to penalize companies that try to improve their chances, ComputerWorld reports. Desperate firms have been known to send more than one application—123, 480 were received last year; 65,000 are awarded—for the same individual to increase odds of being selected. More »
- PC Makers Aim Overseas
  
  USA Today | Mar 7, 08 12:23 PM CST
  
  (Newser) - PC makers are increasingly setting their sights on markets outside the US, which are making up an ever-larger share of the worldwide computer market, USA Today reports. PC sales are growing in the US, still the world’s largest market, but are rising much faster elsewhere. Last year, the US accounted for 26% of worldwide sales, compared to 35% 5 years ago. More »
February 2008
- Made in Italy — in a Chinese Sweatshop
  
  Los Angeles Times | Feb 20, 08 9:21 AM CST
  
  (Newser) - For consumers of luxury goods, the "Made in Italy" designation remains so prestigious that it can add 300% to an item's price. But the days of artisans plying their trade in little workshops are largely over, the Los Angeles Times reports, replaced by thousands of Tuscan factories employing Chinese workers at low wages and in deplorable conditions. For many, the labor is little more than indentured servitude. More »
- Anchor Cut Persian Gulf Internet Cable
  
  Associated Press | Feb 8, 08 5:41 PM CST
  
  (Newser) - The severed Internet cable in the Persian Gulf was the work of a 5.5-ton ship’s anchor, the AP reports. A crew from the FLAG telecommunications company, which owns the cable, found the anchor near Dubai and hauled it up; how the cut occurred is still unexplained. The incident spawned Internet-usage problems through the Middle East and areas of Asia. More »
- Repairs Begin on Cut Net Cable
  
  Reuters | Feb 5, 08 6:18 AM CST
  
  (Newser) - Repairs have begun on a segment of undersea Internet cable reported severed off the coast of the United Arab Emirates last Friday, Reuters reports. FLAG, an Indian telecom, said that one of their ships had reached the cable, the most recently disrupted of three main lines to undermine access across the Middle East and South Asia. Another repair ship is expected to reach one of the other two cables today. More »
- India, China Growth Breaks Western Mold
  
  Boston Review | Feb 3, 08 7:33 AM CST
  
  (Newser) - Conventional wisdom chalks up the economic booms in China and India to their moves toward global capitalism in the '90s. It's a comforting thought for the West, writes Pranab Bardhan in the Boston Review , but the truth is far more complex. The astounding growth in both countries started well before recent market reforms. Bardhan re-evaluates the well-worn myths surrounding the past, present, and future of these economic giants. More »
- Mideast Web Woes Persist as 3rd Cable Is Cut
  
  CNN | Feb 1, 08 1:18 PM CST
  
  (Newser) - A third cable carrying Internet traffic to the Mideast was cut today off the Persian Gulf emirate of Dubai, and web and phone service remained disrupted in large areas of the Mideast and India because of breaks in two cables in the Mediterranean Wednesday. The cables severed earlier carried as much as three-quarters of the traffic between Europe and the Mideast, so their loss was more serious, CNN reports. More »
January 2008
- Bush: Trade Key to US Recovery
  
  Wall Street Journal | Jan 31, 08 11:21 AM CST
  
  (Newser) - Saying "free trade means good-paying jobs for Americans," President Bush yesterday urged Congress to approve proposed deals with Colombia, Panama, and South Korea, the core of a trade agenda he feels can revitalize a shaky US economy. Bush also offered to help lawmakers reshape benefits for workers who lose jobs to foreign competition, the Wall Street Journal reports. More »
- World Economy May Dodge US Downturn
  
  Washington Post | Jan 30, 08 3:01 AM CST
  
  (Newser) - The world economy will still catch a cold when America sneezes, but it won't be as bad as it would have been 5-10 years ago, the Washington Post reports. The International Monetary Fund predicts a 2008 global growth forecast of 4.1%—down from 4.9% last year—largely because of an expectation of a US downturn. The impact could have been far worse, but American economic dominance has been diluted, leaving other economies better able to weather a US recession. More »
- US Recession May Imperil Global Tourism
  
  Reuters | Jan 29, 08 6:12 PM CST
  
  (Newser) - The number of international tourists could decrease this year if the US falls into a deep recession, but the UN is "cautiously optimistic" that 2008 will be the fifth straight year of growth, Reuters reports. After 2007's record 898 million tourist trips, a 6.2% jump over 2006, the World Tourism Organization projects continued but slower growth in 2008. More »
- US Sneeze Doesn't Spook Many at Davos
  
  CNN | Jan 23, 08 5:01 PM CST
  
  (Newser) - Bigwigs spooked by the downturn in the US economy aren't spreading their usual cheer at the World Economic Forum in Switzerland, Fortune reports, but many other Davos attendees are smiling. Representatives say the Indian and Chinese economies are strong enough to weather recession; many agree with George Soros that “the current crisis is the end of an era based on the dollar.” More »
- EU Frets Over Fallout From US Economy's Slide
  
  Bloomberg | Jan 22, 08 10:38 AM CST
  
  (Newser) - Stock markets around the world continued to hemorrhage today on worries the US would slide into recession, prompting finance ministers to warn that the slump is threatening EU growth. They revised forecasts downward for the 15-member EU, reports Bloomberg. “There is great concern about the financial crisis,” said the Belgian finance minister. More »
- Europe Sees Biggest Stock Plunge Since 9/11
  
  MarketWatch | Jan 21, 08 4:10 PM CST
  
  (Newser) - Amid continuing concerns about a US recession, European stocks took their biggest single-day plunge since 9/11 today, reports MarketWatch. Losses from financial institutions appeared to be the biggest culprit in the day's 5.4% drop, which added to a crippling trend: The Dow Jones Stoxx 600 index has dropped 23% since mid-2007. On American shores, Dow futures dropped, sparking fears of a nosedive tomorrow. More »
- US Recession Fears Pummel World Markets
  
  Bloomberg | Jan 21, 08 6:09 AM CST
  
  (Newser) - Markets across Asia and Europe fell sharply today on fears of a looming US recession and a lack of confidence in Bush’s $145 billion economic rescue plan, reports Bloomberg. Japan's Nikkei was off 3.9% and the Hong Kong Seng Index fell 3.5%, the most since Sept. 11, 2001. In Europe, the Dow Jones Stoxx 600 slid 5.6% by midday. More »
- 7-Eleven Takes Top Franchise
  
  Entrepreneur | Jan 18, 08 7:20 PM CST
  
  (Newser) - After 16 years of flirting with the top seat, 7-Eleven has finally wrested the title of No. 1 franchise away from sandwich heavyweight Subway, reports Entrepreneu r. With 5,580 US stores, 25,062 worldwide, and a new one opening up somewhere every four and a half hours, the convenience giant has charted its own unique path to Big Gulp glory. More »
- GE Q4 Profit Climbs 15%; Stock Rebounds
  
  Bloomberg | Jan 18, 08 1:41 PM CST
  
  (Newser) - GE profits rose 15% in the fourth quarter as overseas demand for jet engines and power turbines more than offset the weakness in the US economy, the company reported today. “They've really been a beneficiary of the whole global growth story,” an analyst told Bloomberg. GE stock was up 3.4% at midday; earlier, it rose 5.3%, its biggest gain in almost 5 years, erasing yesterday's 3.9% drop. More »
- United Nations U Seeks to Make Grade as Real College
  
  Der Spiegel | Jan 13, 08 5:09 AM CST
  
  (Newser) - If you’ve never heard of the United Nations University, don’t feel bad. The institution, or, really, network of institutions, is more of a think tank: Spread across 13 academies around the world, it researches matters important to the global village. Now, the institution's new rector Konrad Osterwalder seeks to develop the UNU even further—into a global, degree-awarding university, reports Der Spiegel More »
- Oil Sends Trade Deficit to 14-Month High
  
  Bloomberg | Jan 11, 08 11:15 AM CST
  
  (Newser) - The trade deficit widened 9.3% to $63.1 billion in November, despite a healthy growth in exports. With the dollar down, and demand for US goods rising in Asia and Latin America, exports moved at a healthy clip. But spending on imported oil overshadowed everything else, Bloomberg reports. “It comes down to three things: oil, oil, and oil,” said one economist. More »
December 2007
- New Cisco Unit First Based Abroad
  
  Financial Times (UK) | Dec 26, 07 10:10 PM CST
  
  (Newser) - Dozens of new cities are to be built in China, India, and the Middle East in the coming decade and Cisco Systems wants to network them top-to-bottom, the Financial Times reports. The networking equipment giant is setting up a new business center in Bangalore, India, as part of its push to expand in the developing world. More »
- Quality Boosts US Exports
  
  Washington Post | Dec 26, 07 12:55 PM CST
  
  (Newser) - The sinking dollar is fueling a booming export market in tractors, medical equipment, and electrical machinery, helping some US manufacturers overcome a falloff in domestic sales, reports the Washington Post. The trend may even help reduce the trade deficit: For 2007, US exports are projected to increase even more than the 12.7% they rose between 2005 and 2006. More »