Category: News Desk

Toyota to Produce New Prius in China


Toyota Motor Corp. will manufacture the third generation of its hybrid model, the Toyota Prius, along with its vital parts in China, said a spokesperson for the company on Sunday.

The decision is said to be a step forward in boosting sales of the environmentally friendly vehicle in what is now the world’s largest car market, and will be the first time that the Japanese automaker has ever produced key components such as motors and batteries for the petrol-electric hybrid in a facility outside Japan.

Iceland Was “Bullied” Over Bank Debt, Claims President Olafur Ragnar Grimsson


Iceland’s President Olafur Ragnar Grimsson has hit out at the European Union for allowing Britain and the Netherlands to “bully” his country into agreeing to guarantee repayment of the debts of the failed Icesave Bank.

Speaking to the RUV public radio station, Grimsson described the demands made by the British and Dutch governments as “absurd”, and called for the European Union to launch a probe into how these two governments were able to place so much pressure on Reykjavik.

US To Sue Banks Over Subprime Mortgage Loans


The US Federal Housing Finance Agency, a government body that oversees mortgage giants Fannie Mae and Freddie Mac is preparing to file a law suit against a dozen of the world’s largest banks, for allegedly misrepresenting the quality of mortgage-backed securities.

 

White House Predicts Long Term Unemployment


 The White House forecast on Thursday high unemployment of about 9 percent that is expected to persist through 2012. This announcement comes days before US President Barack Obama is expected to make his stimulus proposals. 

Infographic: 10 Hot Careers with Strong Projected Growth


The United States government recently revealed that unemployment is likely to remain above the 9 percent mark over the next year as economic recovery remains sluggish, with the possibility of a double-dip recession. The job market, as such, has also become increasingly saturated with job creation showing little to no sign of improvement.

Europe’s Manufacturing Industry Slumps to Two-Year Low


Europe’s manufacturing industry shrank for the first time in almost two years in August as fresh fears arise over a possible double-dip recession.

The Markit/Cips manufacturing purchasing managers’ index (PMI) for the entire region fell from 50.4 in July to 49 last month – the weakest overall reading since June 2009. The result was also lower than the previously forecasted score of 49.7, and meant that the manufacturing sector saw its first contraction since September 2009. According to the PMI, any figure under 50 indicates a contraction in activity.

Climate Change Poses Major Threat to Cambodia’s Rural Poor


The Cambodian economy faces major problems for its predominantly rural population in the event of more erratic climate shifts, according to the United Nations Development Programme’s 2011 Cambodian Human Development Report.

US Raises Anti-Trust Concern Over AT&T Takeover of T-Mobile


The US Justice Department filed an anti-trust complaint against AT&T on Wednesday, in an attempt to block the telecommunications company from completing a US$39 billion purchase of T-Mobile USA.

The Justice Department asserted that the combination of the second and fourth largest cell phone companies in America would hurt competition and result in a price increase for consumers.

Japan’s New PM Yoshihiko Noda Names Key Aides


Newly appointed Japanese Prime Minister Yoshihiko Noda revealed yesterday key party appointments, as he attempts to rebuild unity after a bruising leadership fight. 

Infographic: Digital Dependency – Connecting Technology to Our Daily Lives


Are we over-dependent on digital technology? According to a recent report, 50 percent of Americans prefer to communicate digitally rather than having face-to-face communication.

Today, digital technology is now part of our daily lives, allowing us to continually connect to anyone we choose at anytime. However this has also seen a more pervasive influence for technology as individuals lean more and more on digital technology for daily tasks.