Ads 468x60px


Showing posts with label billion. Show all posts
Showing posts with label billion. Show all posts

Friday, September 9, 2011

Obama unveils $447 billion jobs plan for U.S.

Washington (CNN) -- Facing low approval ratings and constant Republican criticism as his re-election campaign starts up, President Barack Obama challenged Congress on Thursday night to put the good of the nation over political benefit and pass a huge jobs plan he proposed.


In a speech to a joint session of Congress, Obama told the legislators to "stop the political circus and actually do something to help the economy" by quickly approving the $447 billion package of measures so he can sign it into law.


"The people of this country work hard to meet their responsibilities. The question tonight is whether we'll meet ours," Obama said to applause. "The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy. The question is whether we can restore some of the fairness and security that has defined this nation since our beginning."


Obama also told legislators that they should quickly pass his plan, called the American Jobs Act.


"There should be nothing controversial about this piece of legislation," the president said. "Everything in here is the kind of proposal that's been supported by both Democrats and Republicans -- including many who sit here tonight. And everything in this bill will be paid for. Everything."


Obama said he will ask Congress to increase the $1.5 trillion target in deficit reduction being pursued by a special joint congressional committee to cover the cost of the American Jobs Act. He said he will propose his own deficit-reduction plan on September 19 that would reform entitlement programs such as Medicare while changing the tax system to end loopholes, lower the corporate tax rate and increase taxes for the wealthy.


In essence, Obama resurrected his push for a so-called "grand bargain" -- a comprehensive deficit reduction package that includes all the drivers of government spending and deficits, including those traditionally favored and protected by both parties.


Republican reaction ranged from an expressed interest in trying to work out compromise to outright rejection and criticism of what was labeled a repeat of failed policies from the past.


House Speaker John Boehner, who backed out of talks with Obama on a major deficit reduction-deal deal earlier this year, said the proposals the president outlined "merit consideration," and added that he hoped for serious consideration by the White House of Republican ideas.


"It's my hope that we can work together to end the uncertainty facing families and small businesses, and create a better environment for long-term economic growth and private-sector job creation," said Boehner, R-Ohio.


Conservative Sen. Jon Kyl, R-Arizona, was much more critical.


"President Obama, perhaps not knowing what else to do, is simply calling for more of the same, as if giving us more of the failed policies of the last two-and-a-half years will somehow yield different results," Kyl said in a statement. "I believe President Obama's new 'stimulus' will further delay economic recovery and continue to inflict harm on so many Americans."


The Senate's top Democrat, meanwhile, said Obama's proposal will present a "litmus test" for Republicans.


"I hope they (Republicans) will show the American people that they are more interested in creating jobs than defeating President Obama," Senate Majority Leader Harry Reid of Nevada said in a statement. "Experts from the ratings agencies to Federal Reserve Chairman Ben Bernanke have said that political gridlock is the main obstacle standing in the way of our economic growth. It is time to put jobs and the economy ahead of partisan politics."\


That point resonated with veteran Republican Sen. John McCain of Arizona, who joked on CNN that the president's poll numbers were very bad, but "have you seen Congress' numbers?"


"We seek approval, too," McCain said.


According to Obama, the purpose of the proposed jobs legislation is "to put more people back to work and more money in the pockets of those who are working."


"It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed," Obama said. "It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away."


He also told Republicans he would take his case directly to the American people, and called on "every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now."


"Tell Washington that doing nothing is not an option," Obama said.


White House spokesman Jay Carney told CNN that Obama will send Congress jobs plan legislation next week.


Obama's plan comes as unemployment remains lodged at 9.1% with no new jobs reported in August, raising fears of a possible return to recession. With 14 months to go until the presidential election, he wants the plan -- as well as the speech to Congress to present it -- to clearly illustrate to the American public the ideological differences between his policies and those of the Republican right.


The mood in the House chamber was jovial before the speech, with Vice President Joe Biden playfully hugging Speaker John Boehner when he arrived at the dais. Democratic legislators repeatedly applauded during the address.


House Republican and White House sources told CNN that Obama called Boehner and McConnell on Thursday afternoon to preview the speech. Even so, a legislative struggle is certain. Republicans call for corporate tax cuts and deregulation as steps to spur job growth, opposing what they label new stimulus spending.


The Democratic leader in the Republican-controlled House -- Rep. Nancy Pelosi of California -- asked the ranking Democrats on committees that will consider the legislation proposed by Obama to urge their Republican chairmen to "schedule immediate hearings and legislative action" on the measures.


Boehner, meanwhile, invited 12 business leaders -- dubbed "job creators" in his statement -- who have been affected by regulations enacted by the administration to attend the speech.


These are "people with real world experience on how the regulations coming out of this administration are impeding their ability to grow their business and create jobs," Boehner's statement said.


At least five Republicans -- two senators and three House members -- didn't plan to attend the speech, which Senate Minority Leader Mitch McConnell said was more of a political event than a policy statement.


"By all accounts, the president's so-called jobs plan is to try those very same policies again and then accuse anyone who doesn't support them this time around of being political and overly partisan, of not doing what's needed in this moment of crisis," McConnell, R-Kentucky, said Thursday morning. "This isn't a jobs plan. It is a re-election plan."


Anticipating such criticism, Obama said he was proposing needed and logical measures that traditionally receive broad support.


"This isn't political grandstanding. This isn't class warfare. This is simple math," he said. "These are real choices that we have to make. And I'm pretty sure I know what most Americans would choose. It's not even close. And it's time for us to do what's right for our future."


Obama said his plan would increase the current payroll tax cut to put additional money in the pockets of Americans at a cost of $175 billion. The current cut, which has cost $112 billion so far, allows employees to pay 4.2% instead of 6.2% on their first $106,800 of wages into Social Security.


Obama's proposal included extended unemployment benefits, which were lengthened to the current 99-week maximum in 2009. Top Democrats argue that such money will immediately be pumped back into the economy in the form of new consumer spending.


In addition, the plan proposes $60 billion for infrastructure development such as repairing roads and bridges, including establishment of an infrastructure bank to help finance such projects.


Other provisions in the president's proposal include money to refurbish schools and provide state aid for teachers and first responders, and tax incentives for small businesses to hire the long-term unemployed and military veterans.


Looking abroad, the president also renewed his push for congressional approval of stalled free trade deals with South Korea, Colombia and Panama. The measures, despite the congressional roadblock, have relatively broad bipartisan support.


The president took aim at tea party conservatives who call for deep spending cuts to shrink government instead of the comprehensive approach he advocates.


"In fact, this larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone's money, let everyone write their own rules, and tell everyone they're on their own -- that's not who we are," Obama said.


He repeatedly urged the legislators to "pass this jobs bill," using a rhetorical flourish that regularly prompted cheers and applause form Democrats.

"No single individual built America on their own," Obama said. "We built it together. We have been, and always will be, one nation, under God, indivisible, with liberty and justice for all; a nation with responsibilities to ourselves and with responsibilities to one another. Members of Congress, it is time for us to meet our responsibilities."

CNN's Alan Silverleib, Charles Riley, Jessica Yellin, Brianna Keilar, Tom Cohen and Mariano Castillo contributed to this report.


CNN

Monday, June 27, 2011

Future of Air Travel: Airbus Predicts 'Transparent' Airplanes, 9 Billion Customers, By 2050 (Time.com)

By MICHAEL DONHAUSER / DIE WELT / WORLDCRUNCH Michael Donhauser / Die Welt / Worldcrunch – Sun Jun 26, 10:05 am ET

This post is in partnership with Worldcrunch, a new global-news site that translates stories of note in foreign languages into English. The article below was originally published in Die Welt.

Stale dry air, narrow seats, jammed overhead compartments: today's air passenger has to be a real flying nut to think plane travel is any fun. But engineers at European manufacturer Airbus say they're working on ways to improve things. Implementing the changes will probably take up to four decades, but they assure us the result will be more than worth the wait.

Flying in 2050 is going to be a real pleasure, the manufacturer says, with a 360-degree panoramic view whenever the "intelligent cabin membrane" is set on transparent, and a virtual golf course on board. Realistic projects, or overactive imaginations? "Engineers dream too," says Charles Champion, Airbus head of development. The Frenchman also points out that some of those dreams are already being implemented and may be launched in as little as 10 years from now.

One of the new ideas engineers are currently playing with involves harvesting passenger body heat to meet some of the plane's energy needs. Another idea refers to seats being upholstered with self-cleaning fabrics that adapt to each individual body form. (See photos of the "plane of the future.")

The first, business and economy class system would be abandoned: "It's not what people want," Champion says. Instead, there would be individual seating arrangements.

Innovations would by no means stop there. In the "vitalizing zone," for example, the air would be vitamin-enriched, while in the "interaction zone," passengers could enjoy virtual games of golf high up over the clouds, or go shopping and try on the latest fashions in virtual changing cabins. Through the cabin's transparent membrane, passengers would be able to gaze at the mountain peaks below them, and would be given information about the name of each summit and its exact height. State of the art communication with the ground would mean that business people could take part in video conferences at 33,000 feet, and that Mom or Dad could read bed time stories to their kids back home.

This cabin of the future - whose shape was modeled after birds - is part of Airbus's total concept for 2050. CEO Thomas Enders says the company expects the demand for aircraft to go up worldwide despite on-going problems faced by many airlines, particularly in Europe. (See 20 reasons to hate airlines.)

"Air travel continues to hold more long-term growth potential than virtually any other sector," Enders told the German newspaper "Welt am Sonntag." According to Airbus figures, air travel currently makes up 8%, or 580 billion dollars worth of the European gross domestic product. The sector employs 33 million people worldwide.

Airbus engineer Champion says that the three biggest current challenges are "that people want flying to be cheap, efficient and environmentally friendly." The sector has to find satisfactory answers to those demands, which is why flying will probably look completely different a few decades down the road. "By 2050, the sector will be hauling 9 billion passengers around the world," Champion says.

All that additional traffic will be possible thanks to new safety technologies that will enable companies to increase the number of flights fivefold. And instead of flying solo, planes could fly in formation and dock during flights to save on fuel. Airbus developers are even toying with the idea of huge airborne aircraft carriers that passenger planes could land on and be transported by. (See how airlines are cashing in on extras.)

Airbus' visions for airports of the future no longer include gates. Instead, planes would roll right up - subway style - to a station, with passengers boarding quickly through several doors with touch screens for the check in. Luggage would be put on a conveyor and stored in the cabin.

If Champion sees a sticking point, it concerns the airports themselves: "We can come up with all kinds of great stuff, but when a plane has to circle for 40 minutes over Heathrow before landing, a lot of it gets lost."

Also from Worldcrunch:

Human Trafficking in the Middle East
- Die Welt

Food Safety Scares in China Prompt Government to Choke Press Freedom
- Economic Observer

Surviving a Night in Zurich's Worst Hotel
- Tages Anzeiger

See 25 essential apps for travelers.

See the 25 all-TIME best animated features.

View this article on Time.com

Most Popular on Time.com:


Yahoo! News

Sunday, June 26, 2011

Future of Air Travel: Airbus Predicts 'Transparent' Airplanes, 9 Billion Customers, By 2050 (Time.com)

By MICHAEL DONHAUSER / DIE WELT / WORLDCRUNCH Michael Donhauser / Die Welt / Worldcrunch – Sat Jun 25, 10:05 am ET

This post is in partnership with Worldcrunch, a new global-news site that translates stories of note in foreign languages into English. The article below was originally published in Die Welt.

Stale dry air, narrow seats, jammed overhead compartments: today's air passenger has to be a real flying nut to think plane travel is any fun. But engineers at European manufacturer Airbus say they're working on ways to improve things. Implementing the changes will probably take up to four decades, but they assure us the result will be more than worth the wait.

Flying in 2050 is going to be a real pleasure, the manufacturer says, with a 360-degree panoramic view whenever the "intelligent cabin membrane" is set on transparent, and a virtual golf course on board. Realistic projects, or overactive imaginations? "Engineers dream too," says Charles Champion, Airbus head of development. The Frenchman also points out that some of those dreams are already being implemented and may be launched in as little as 10 years from now.

One of the new ideas engineers are currently playing with involves harvesting passenger body heat to meet some of the plane's energy needs. Another idea refers to seats being upholstered with self-cleaning fabrics that adapt to each individual body form. (See photos of the "plane of the future.")

The first, business and economy class system would be abandoned: "It's not what people want," Champion says. Instead, there would be individual seating arrangements.

Innovations would by no means stop there. In the "vitalizing zone," for example, the air would be vitamin-enriched, while in the "interaction zone," passengers could enjoy virtual games of golf high up over the clouds, or go shopping and try on the latest fashions in virtual changing cabins. Through the cabin's transparent membrane, passengers would be able to gaze at the mountain peaks below them, and would be given information about the name of each summit and its exact height. State of the art communication with the ground would mean that business people could take part in video conferences at 33,000 feet, and that Mom or Dad could read bed time stories to their kids back home.

This cabin of the future - whose shape was modeled after birds - is part of Airbus's total concept for 2050. CEO Thomas Enders says the company expects the demand for aircraft to go up worldwide despite on-going problems faced by many airlines, particularly in Europe. (See 20 reasons to hate airlines.)

"Air travel continues to hold more long-term growth potential than virtually any other sector," Enders told the German newspaper "Welt am Sonntag." According to Airbus figures, air travel currently makes up 8%, or 580 billion dollars worth of the European gross domestic product. The sector employs 33 million people worldwide.

Airbus engineer Champion says that the three biggest current challenges are "that people want flying to be cheap, efficient and environmentally friendly." The sector has to find satisfactory answers to those demands, which is why flying will probably look completely different a few decades down the road. "By 2050, the sector will be hauling 9 billion passengers around the world," Champion says.

All that additional traffic will be possible thanks to new safety technologies that will enable companies to increase the number of flights fivefold. And instead of flying solo, planes could fly in formation and dock during flights to save on fuel. Airbus developers are even toying with the idea of huge airborne aircraft carriers that passenger planes could land on and be transported by. (See how airlines are cashing in on extras.)

Airbus' visions for airports of the future no longer include gates. Instead, planes would roll right up - subway style - to a station, with passengers boarding quickly through several doors with touch screens for the check in. Luggage would be put on a conveyor and stored in the cabin.

If Champion sees a sticking point, it concerns the airports themselves: "We can come up with all kinds of great stuff, but when a plane has to circle for 40 minutes over Heathrow before landing, a lot of it gets lost."

Also from Worldcrunch:

Human Trafficking in the Middle East
- Die Welt

Food Safety Scares in China Prompt Government to Choke Press Freedom
- Economic Observer

Surviving a Night in Zurich's Worst Hotel
- Tages Anzeiger

See 25 essential apps for travelers.

See the 25 all-TIME best animated features.

View this article on Time.com

Most Popular on Time.com:


Yahoo! News

Saturday, June 25, 2011

Future of Air Travel: Airbus Predicts 'Transparent' Airplanes, 9 Billion Customers, By 2050 (Time.com)

By MICHAEL DONHAUSER / DIE WELT / WORLDCRUNCH Michael Donhauser / Die Welt / Worldcrunch – Sat Jun 25, 1:45 am ET

This post is in partnership with Worldcrunch, a new global-news site that translates stories of note in foreign languages into English. The article below was originally published in Die Welt.

Stale dry air, narrow seats, jammed overhead compartments: today's air passenger has to be a real flying nut to think plane travel is any fun. But engineers at European manufacturer Airbus say they're working on ways to improve things. Implementing the changes will probably take up to four decades, but they assure us the result will be more than worth the wait.

Flying in 2050 is going to be a real pleasure, the manufacturer says, with a 360-degree panoramic view whenever the "intelligent cabin membrane" is set on transparent, and a virtual golf course on board. Realistic projects, or overactive imaginations? "Engineers dream too," says Charles Champion, Airbus head of development. The Frenchman also points out that some of those dreams are already being implemented and may be launched in as little as 10 years from now.

One of the new ideas engineers are currently playing with involves harvesting passenger body heat to meet some of the plane's energy needs. Another idea refers to seats being upholstered with self-cleaning fabrics that adapt to each individual body form. (See photos of the "plane of the future.")

The first, business and economy class system would be abandoned: "It's not what people want," Champion says. Instead, there would be individual seating arrangements.

Innovations would by no means stop there. In the "vitalizing zone," for example, the air would be vitamin-enriched, while in the "interaction zone," passengers could enjoy virtual games of golf high up over the clouds, or go shopping and try on the latest fashions in virtual changing cabins. Through the cabin's transparent membrane, passengers would be able to gaze at the mountain peaks below them, and would be given information about the name of each summit and its exact height. State of the art communication with the ground would mean that business people could take part in video conferences at 33,000 feet, and that Mom or Dad could read bed time stories to their kids back home.

This cabin of the future - whose shape was modeled after birds - is part of Airbus's total concept for 2050. CEO Thomas Enders says the company expects the demand for aircraft to go up worldwide despite on-going problems faced by many airlines, particularly in Europe. (See 20 reasons to hate airlines.)

"Air travel continues to hold more long-term growth potential than virtually any other sector," Enders told the German newspaper "Welt am Sonntag." According to Airbus figures, air travel currently makes up 8%, or 580 billion dollars worth of the European gross domestic product. The sector employs 33 million people worldwide.

Airbus engineer Champion says that the three biggest current challenges are "that people want flying to be cheap, efficient and environmentally friendly." The sector has to find satisfactory answers to those demands, which is why flying will probably look completely different a few decades down the road. "By 2050, the sector will be hauling 9 billion passengers around the world," Champion says.

All that additional traffic will be possible thanks to new safety technologies that will enable companies to increase the number of flights fivefold. And instead of flying solo, planes could fly in formation and dock during flights to save on fuel. Airbus developers are even toying with the idea of huge airborne aircraft carriers that passenger planes could land on and be transported by. (See how airlines are cashing in on extras.)

Airbus' visions for airports of the future no longer include gates. Instead, planes would roll right up - subway style - to a station, with passengers boarding quickly through several doors with touch screens for the check in. Luggage would be put on a conveyor and stored in the cabin.

If Champion sees a sticking point, it concerns the airports themselves: "We can come up with all kinds of great stuff, but when a plane has to circle for 40 minutes over Heathrow before landing, a lot of it gets lost."

Also from Worldcrunch:

Human Trafficking in the Middle East
- Die Welt

Food Safety Scares in China Prompt Government to Choke Press Freedom
- Economic Observer

Surviving a Night in Zurich's Worst Hotel
- Tages Anzeiger

See 25 essential apps for travelers.

See the 25 all-TIME best animated features.

View this article on Time.com

Most Popular on Time.com:


Yahoo! News

Monday, May 23, 2011

Sony to report $3.2 billion annual loss (AP)

TOKYO – Sony Corp. is expecting an annual loss of $3.2 billion, reversing its earlier projection of a return to profit, as the electronics giant struggles with production disruptions from Japan's tsunami and a hacker attack on its online gaming service.

The Japanese maker of PlayStation 3 video game machines and Bravia flat-panel TVs said Monday that the projection of a 260 billion yen ($3.2 billion) net loss for the fiscal year ended March 2011 was largely due to writing off 360 billion yen ($4.4 billion) related to a tax credit booked in a previous quarter.

Sony announced the loss ahead of its official earnings announcement Thursday under Tokyo Stock Exchange guidelines. The company had earlier projected a 70 billion yen ($860 million) profit.

Like many other Japanese manufacturers, Sony has been hampered by the production disruptions set off by the March 11 earthquake and tsunami that killed more than 25,000 people, destroyed many factories and sent the nation's economic recovery into reverse.

The company kept its operating profit forecast unchanged at 200 billion yen ($2.46 billion). It expects to report sales of 7.18 trillion yen ($88.2 billion), slightly down from an earlier projection of 7.2 trillion yen ($88.5 billion).

Masaru Kato, Sony's chief financial officer, said parts shortages in the aftermath of the disaster have eased but a full recovery hasn't yet been realized.

"In the first quarter, we saw quite a major impact on our manufacturing activities," he said. After the quake, "negative factors have grown bigger" and offset earlier improvement in the previously loss-making games division, dashing hopes for a profit.

Tokyo-based Sony also faced a new challenge to its reputation following a massive security breach affecting more than 100 million online accounts.

After temporarily closing down its online gaming services last month, Sony began restoring its PalyStation Network services in the U.S. and Europe on May 15 mainly for online gaming, chat and music streaming services.

Sony spent 14 billion yen ($170 million) to cover costs that included identity theft insurance for customers, improvements to network security, free access to content, customer support and an investigation into the hacking.

Sony has seen plunging sales of flat-panel TVs and other gadgets, and was likely to remain in the red in its TV business for the seventh year straight.

Sony has also taken a beating in music players and other portable devices to Apple's iPod, iPhone and iPad.

The company booked a 40.8 billion yen ($439 million) loss for the fiscal year ended March 2010 after a 98.9 billion yen loss the year before_ Sony's first annual red ink in 14 years.

___

Associated Press writer Tomoko A. Hosaka contributed to this report.


Yahoo! News


This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Monday, May 16, 2011

France wants $3.5 billion for its 4G frequencies (Reuters)

PARIS (Reuters) – France hopes to get at least 2.5 billion euros ($3.53 billion) for the fourth-generation (4G) wireless frequencies it plans to grant to telecom operators in an upcoming auction, Industry minister Eric Besson told Le Figaro.

France is in the final stages of setting terms for the auction of fourth-generation mobile spectrum, which will shape the competitive landscape of Europe's third-largest telecom market for years to come.

The government had previously said it wanted to receive at least 2 billion euros from the auction but Besson said the new higher amount matched those of similar auctions the United States, Sweden and Germany.

"France must not sell its frequencies at cut-price levels," Besson said in the interview published on Monday.

Besson added the auction would be split into several lots in order to prevent deep-pocketed bidders such as France Telecom from buying the majority of frequencies and gaining a major advantage over smaller players like Bouygues and new mobile entrant Iliad.

The 4G frequencies being sold are of two types. There are four lots up for grabs in the 800 megahertz band, which is more sought after for its ability to carry massive debits over long distances. Besson said the minimum price the government would accept for the lots in the 800 band will be 1.8 billion euros.

Then there is the 2.6 gigahertz band where there is more frequencies available, but given their lower quality will be sold for a lower price. Besson said the government had set a minimum price of 700 million euros for these frequencies.

Asked about the timeframe of the auction, Besson said the government would launch the official bidding process in June, then bids would be submitted in September.

The decisions on the bids would be made in October for the 2.6 gigahertz band, and November for the 800 megahertz band.

($1=.7083 euros)

(Reporting by Matthias Blamont and Leila Abboud; Editing by Mike Nesbit)


Yahoo! News


This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Tuesday, May 10, 2011

China trade surplus up to $11.4 billion

(FT) -- China's trade balance rebounded strongly in April as exports surged and imports came in lower than expected, according to figures released by Beijing on Tuesday.


The trade surplus hit $11.4bn in April, far larger than most analysts expected and well above the surplus of $140m in March.


China recorded its first quarterly trade deficit in seven years in the January to March period but the unexpectedly large surplus in April will increase international pressure on Beijing to allow faster appreciation of its tightly controlled currency, the renminbi.


Top Chinese officials, including Wang Qishan, the vice-premier in charge of finance, are currently in Washington for the bilateral Strategic and Economic Dialogue, where the value of the renminbi has been a key topic of discussion.


"Today's trade data shows that Chinese exporters continue to benefit from a supportive exchange rate," said Brian Jackson, an economist at Royal Bank of Canada in Hong Kong. "This number will likely add to the pressure from Washington for Beijing to allow faster currency appreciation, but more importantly should persuade Chinese policy-makers that a stronger [renminbi] can be tolerated by the economy and is warranted as part of their efforts to curb price pressures."


China's central bank governor and other officials have made statements that indicate greater willingness to use appreciation of the renminbi to help tackle persistent inflation, which the government has said is its key economic task for this year.


The renminbi has gained about 2.3 per cent against the US dollar in the last six months but has lost significant ground against other major currencies as the dollar has weakened.


On a seasonally adjusted basis Chinese exports increased 35.1 per cent in April from the same month a year earlier and grew 12.3 per cent from March, the customs bureau said.


Seasonally adjusted imports in April rose 27.4 per cent from a year earlier and 7.4 per cent from the previous month.

Analysts were divided over whether weaker-than-expected imports signalled a slowdown in the Chinese economy in April or whether already large inventories in the country had allowed Chinese companies to put off commodity imports at a time when prices were unusually high.

© The Financial Times Limited 2011


CNN Top Stories


This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.