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Google Searches for Balance with Newspapers Google chief executive Eric Schmidt told a gathering of newspaper publishers that search engines' use of their content is good for the whole industry. However, Google may have bigger plans for local newspapers and periodicals. - Google chief executive Eric Schmidt walked into the lion's den yesterday, speaking at the annual Newspaper Association of america's meeting in San Diego to assure publishers of struggling newspapers across the country that the search giant is their friend.But these are not good times for newspaper... eWeekAsigra, CoreVault Team for New Cloud Storage for Legal Docs The package utilizes commodity storage arrays and is designed to replace traditional backup technologies, such as tape and optical disc. - Cloud storage provider Asigra and backup and recovery specialist CoreVault April 7 announced they are teaming up to provide a new business-class cloud backup and recovery service for the legal community.Aimed at helping both large and small law firms in North america protect sensitive company an... eWeekSunil Jain: Changing face of America All those ready to write off Americans as compulsive spendthrifts would do well to take note of what the current crisis has done to them. From near zero in the summer of 2005 to the middle of last year, the personal savings rate has jumped to 4.2 per cent. With their net worth eroding rapidly, and credit card companies tightening the credit spigots, the average american has no option but to save and s/he is doing that with a vengeance. Business StandardThe Day Ahead North America: Canadian Employment, U.S. Trade Balance, Jobless Claims (CEP News) - Markets will receive several key data releases to end the week on Thursday, including Canada's Labour Force Survey, the U.S. trade balance and weekly U.S. jobless claims. Economic NewsWater & Waste - Regional - ERA Environmental Consulting eyes potential business opportunities US-based environmental software manufacturer ERA Environmental Consulting is analyzing business opportunities in Latin america, but does not plan to enter the region right now, director of sales and m... BN AmericasNew York auto show: Eye-popping Ferrari 599s hit North America: The new pictures of the latest version of the Ferrari 599 make it crystal clear why Ferrari added a couple of Xs to the name: It?s one of the most heart-pumping models in recent memory from the Prancing Horse--or any other carmaker. Autoweek.comTrade finance: The cavalry of commerce With G20 cash in their saddlebags, export-import banks ride to the rescueTRADE is shrinking at the fastest rate since the second world war. The global economy’s woes are largely to blame, but scarce trade finance, especially in emerging markets, hardly helps. In November the World Trade Organisation put the shortfall at $25 billion, but by March the gap had widened to between $100 billion and $300 billion. At the G20 summit on April 2nd, the leaders vowed to reverse this trend by ensuring the availability of at least $250 billion over the next two years to support trade finance. What that lofty figure represents is unclear. The little official information there is suggests that as much as $200 billion would flow through export-credit agencies (ECAs), such as America’s Export-Import Bank, which specialise in trade finance. The G20 suggested that up to $50 billion of “trade liquidity support” would come via the World Bank. ... EconomistNewspapers: Can things get any worse? As one might expect, the gathering of the Newspaper Association of america annual convention was a somber and lightlyattended affair, relatively speaking. Highlights, if you could call them that, included bold talk of reinvention and threats from the Associated Press to clamp down on online pilfering of its content. CNNThe Summit of the Americas: The ghost at the conference table Barack Obama will inject a new cordiality into relations with Latin america, but he will be judged on what he does on CubaTHE last time the heads of government of the Americas got together, at the Argentine resort of Mar del Plata in November 2005, it was a fiasco. At a protest rally of 25,000 organised with the help of the hosts, Venezuela’s Hugo Chavez spent more than two hours denouncing the United States and its plans for a Free-Trade Area of the Americas (FTAA). At the meeting itself, 29 countries backed the trade plan, moribund though it was, and Mexico’s president gave Mr Chavez a public earwigging. George Bush and Brazil’s Luiz Inacio Lula da Silva left early and Argentina and Uruguay were not on speaking terms. So the first aim of many of the 34 leaders who are due to assemble in Port of Spain, the capital of Trinidad and Tobago, between April 17th and 19th, is to preserve the diplomatic niceties and create a better atmosphere in the Americas. In this they ma EconomistBanks and accounting standards: Messenger, shot Accounting rules are under attack. Standard-setters should defend them. Politicians and banks should back offIN PUBLIC, bankers have been blaming themselves for their troubles. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moan the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch. Unfortunately, banks’ lobbying now seems to be working. The details may be arcane, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult.On April 2nd, after a bruising encounter with Congress, America’s Financial Accounting Standards Board (FASB) rushed through rule changes. These gave Economist1 2 |
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