U.S. economy has bottomed: George Soros
The U.S. economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday. Read Full Article here.
Madoff firm's CFO pleads guilty in huge fraud
Bernard Madoff's long-time deputy, Frank DiPascali, Tuesday pleaded guilty to crimes including helping others carry out Wall Street's biggest investment fraud. Read Full Article here.
How much it will cost to power the GM Chevy Volt?
After General Motors said today its plug in electric car, the Chevy Volt, would have a range of 230 miles per gallon in city driving, interest grew about whether its price tag of around $40,000 will truly bring savings to consumers on a daily basis. Read Full Article here.
U.S. productivity surges, inventories lean
U.S. output per worker rose at its fastest pace in six years during the second quarter as businesses wrung more productivity from fewer staff in a sign that a recovery from recession will be slow and unlikely to create a surge in hiring. Read Full Article here.
Google's new Caffeine search engine in testing mode
As online search becomes more competitive and innovate, Google is upping the ante by developing new technology which will speed up indexing new search results and create a larger index. Google promises that the new search tool - codename Caffeine - will improve the speed, accuracy, size, and comprehensiveness of Google search. Read Full Article here.
Giants Duke Energy, Huaneng to develop CCS tech
Duke Energy Corp., the third largest utility in the United States said it signed a memorandum of understanding with Chinese Huaneng Group, China's biggest power producer by capacity, to develop carbon capture and sequestration technologies.
Oil consumption forecasted to fall further
Oil consumption is expected to fall by 1.71 million barrels per day in 2009, higher than a previous forecast of 1.56 million bpd decline, the U.S. Energy Information Administration said on Tuesday. The news contributed to a decline in crude oil prices which settled lower today at $69.45 per barrel.
Panasonic, NEC unveil 9 Linux phones
Panasonic Corp and NEC Corp unveiled nine new cellphone models on Tuesday that run the open-source LiMo operating system, wireless Linux group LiMo said. The focus of the cellphone market has been shifting to software development since Google Inc and Apple Inc entered the mobile market in the past two years. Read Full Article here.
Dell unveils Nickelodeon PC for kids
Dell Inc on Tuesday unveiled a line of Nickelodeon co-branded personal computer for children, the first in a series of branding deals intended to galvanize its consumer business. Read Full Article here.