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added: 17-06-2008

The week's highlight was an uptick in retail sales in May, aided by tax rebate checks. The good news tempered the negative fallout from last week's weak jobs report. Employment has now fallen for five straight months. And as The Conference Board's new Employment Trends Index suggests, jobs will continue to decline through the summer and possibly right through the autumn months.

M&A Activity Down but Not Out

added: 16-06-2008

With approximately US$1 trillion in global deal volume recorded during the first 19 weeks of 2008 vs. US$1.4 trillion during the same time last year, total transaction volume so far in 2008 has fallen below the record highs of 2007. However, merger and acquisition activity is expected to stabilize throughout the remainder of 2008 and the first half of 2009, according to Ernst & Young LLP's Transaction Advisory Services group.

Social Networking Takes Off

added: 16-06-2008

Social interaction platforms, including MySpace and Facebook, have grown dramatically in recent years, with more people joining every day. Once a niche activity, online social networking now engages millions of consumers and has become an integral part of many people's lives. Currently, one out of every four people online visits social networking sites, according to the Consumer Internet Barometer.

US Real Earnings in May 2008

added: 15-06-2008

Real average weekly earnings fell by 0.4 percent from April to May after seasonal adjustment, according to preliminary data released by the Bureau of Labor Statistics of the U.S. Department of Labor.

9 Million U.S. Mobile Users Have Used Their Mobile Phone to Pay for Goods or Services

added: 14-06-2008

Commerce over mobile devices such as cell phones is accelerating in the US, according to data released by The Nielsen Company. Already, 9 million US mobile subscribers say they have used their mobile phone to pay for goods or services, and half of all data users (49 percent) say they expect to participate in mobile commerce in the future.

US Consumer Price Index in May 2008

added: 13-06-2008

The Consumer Price Index for All Urban Consumers (CPI-U)increased 0.8 percent in May, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported. The May level of 216.632 (1982-84=100) was 4.2 percent higher than in May 2007.

U.S. Airline Industry Headed Toward 'Catastrophe' at Current Oil Prices

added: 13-06-2008

At current oil prices, several large and small U.S. airlines will default on their obligations to creditors beginning at the end of 2008 and early 2009, according to a study issued by AirlineForecasts, LLC and the Business Travel Coalition. The study shows that $130/barrel oil prices will increase yearly airline costs by $30 billion, while airlines will be able to generate only $4 billion in fare increases and incremental fees. The implication of this alarming trend is that several large and small airlines will ultimately end up in bankruptcy, and of those, some will be forced to liquidate.

Foreclosure Activity Increases 7 Percent in May 2008

added: 13-06-2008

RealtyTrac(R) released its May 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 261,255 properties during the month, a 7 percent increase from the previous month and a 48 percent increase from May 2007. The report also shows one in every 483 U.S. households received a foreclosure filing during the month, the highest monthly foreclosure rate since RealtyTrac began issuing the report in January 2005.

US Import and Export Price Indexes in May 2008

added: 13-06-2008

The U.S. Import Price Index rose 2.3 percent in May, the Bureau of Labor Statistics of the U.S. Department of Labor reported, following advances of 2.4 percent in April and 3.0 percent in March. Rising prices for both petroleum and nonpetroleum imports factored into the increases. The price index for overall exports advanced 0.3 percent in May after rising 0.5 percent the previous month.

Fitch: U.S. Property/Casualty Industry Shifts To Modest Underwriting Loss In 2008

added: 12-06-2008

The US property/casualty insurance industry’s favorable operating performance in 2007 unfortunately signified the tail-end of the hard market that endured over the last five years. Results for 2007 were marked by a strong underwriting profit and significant growth in investment-related earnings that produced a fourth consecutive year of double-digit returns on policyholders’ surplus.

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