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20 Sep 2011 00:33

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U.S.: Good news: Gas prices are down, but not from a year ago

  • $3.60 the average price of gasoline in the U.S.
  • -35¢ the decrease in price from May’s peak
  • +87¢ the increase in price from a year ago source
  • » What caused the increase? To put it simply, many analysts point to the civil war in Libya for inflating the price of gas, as it took 1 million barrels of oil out of the supply chain each day, raising the price of oil by $20 per gallon at its high point. The recent successes the rebels have had since NATO started its air strikes exactly six months ago tonight have helped to bring the prices down to more manageable levels. Seasonal factors are also at play, and with Labor Day behind us, gas prices should continue to decline through Christmas.
Posted by samimain • 0 Comments • Permalink

10 Apr 2011 21:09

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Biz, World: Exports: China’s focusing less outward, more inward

  • $1.02B China’s trade deficit in the first three months of 2011
  • $140M the trade surplus China had in March alone, which is tiny, by the way
  • seven years since China last had a quarterly trade deficit source
  • » Less global, more domestic: You can blame the decline on two things. First, as global economies (particularly the U.S. and Europe) start to improve, there’s less of a need to import things, creating lower demand. And secondly, in the face of criticism about its exports-first economic policy, China is giving its own domestic economy a little more love. So exports are down in China, but that’s because they’re becoming less reliant on exports.
Posted by Ernie Smith • 0 Comments • Permalink

24 Jan 2011 10:28

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Biz, World: Ivory Coast leaders fighting with chocolate, in non-funny way

  • cause Internationally-recognized Ivory Coast leader Alassane Ouattara, in an effort to starve still-clinging loser Laurent Gbagbo of cash, has decided to block all exports of cocoa from the country for a month. Ivory Coast is the world’s largest producer, by the way.
  • reaction An immediate effect of the export ban? Cocoa prices have gone way up on the commodities market – a 3.4 percent leap in just a day. Many are afraid of a potential market disruption. Some experts, however, suggest that the market is just overreacting to the news. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Jan 2011 10:37

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Biz, World: Obama’s meeting with China bears airplane-shaped fruit

  • $19 billion deal for China to buy 200 aircraft from Boeing source
Posted by Ernie Smith • 0 Comments • Permalink

29 Dec 2010 09:55

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World: Not willing to share: China limiting exports of rare earth minerals

China produces 97 percent of the world’s rare-earth materials, used in all sorts of ways. But now China doesn’t want to share so much anymore – and other countries are pissed. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Nov 2010 21:45

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Biz: Federal Reserve taking it from all sides with stimulus plan

  • On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for many years. As a society, we should find that outcome unacceptable.
  • Federal Reserve Chief Ben Bernanke • Explaining why the much-maligned stimulus plan (which involves shoving $600 billion into the economy whether it likes it or not) is necessary to save the economy. Republicans and Tea Partiers claim that the plan could raise prices of essentials such as food. Internationally, there’s worries about the stimulus driving down the value of the dollar (thereby making exports to the U.S. more desirable). Republicans in Congress are talking about stripping the Fed of its mandate to promote full employment as a result of this action. We’d like to see Republicans, rather than reacting to things they don’t like, offering up ideas. Is it really that hard, guys? You’ve had two-plus years. Where are your economy-fixing ideas? source
Posted by Ernie Smith • 0 Comments • Permalink

13 Jul 2010 11:10

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Biz: “Made in China” means it costs more in China than the U.S.

  • $460 added cost of an Apple laptop in China versus the U.S. – partly due to tariffs
  • $240 added cost of a flat-screen TV in China versus the same TV in the U.S.
  • 25¢ added cost of a can of Budweiser in China (even though it’s brewed locally) source
Posted by Ernie Smith • 0 Comments • Permalink
 

12 May 2010 09:47

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Biz: The U.S. trade deficit widens in March. What does that mean?

  • $188B the value of goods the U.S. imported from other countries in March
  • $147B the value of goods the U.S. exported to other countries in March
  • $40.4B the gap between
    the two     – a.k.a. our trade deficit source
Posted by Ernie Smith • 0 Comments • Permalink

16 Jan 2010 17:09

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Tech: Nokia and Apple still having a massive contest of egos

  • nokia Has lost massive market share after the iPhone’s release. Sued Apple for patent infringement. Apple rebuffed. Sued Apple again, claiming that nearly all products Apple makes infringe their patents.
  • apple Has completely changed the market that Nokia owned for about a decade. Claims Nokia essentially copied their phones. Is now asking the ITC to block all imports of Nokia phones into the U.S. source
Posted by Ernie Smith • 0 Comments • Permalink

10 Jan 2010 10:32

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Biz: China topples Germany, becomes world’s biggest exporter

  • 17.7% increase in Chinese exports in December – giving China a leg-up on the Germans
  • 13.9% decrease in overall imports and exports in 2009; so it’s not all massive growth for China source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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