Economists see cautious consumer mood but spending holds
A Conference Board survey shows consumer confidence at 44.5 in August, a steep fall from July as worries over debt, downgrades, and stock swings weigh on sentiment. Yet economists note spending may hold, with retail sales still relatively healthy and expectations for modest economic improvement ahead.
MENTIONED IN THIS ARTICLE
U.S
Conference Board
Chris Rupkey
Bank of Tokyo-Mitsubishi Ufj
Europe
Pfizer’s Xalkori a milestone in targeted cancer therapy
Pfizer officials and cancer experts hailed Xalkori as the first new lung cancer medicine in over six years. The drug targets rare gene variants and comes with a companion diagnostic, signaling a shift toward personalized, highly targeted treatments for a subset of patients. Dr. Paul A. Bunn Jr. called the move a paradigm shift from uniform treatment to gene-guided therapy.
MENTIONED IN THIS ARTICLE
Trenton
N.J
Pfizer Inc
Pfizer
U.S
Paul A. Bunn Jr
University of Colorado
Xalkeri
Automakers bet on compact cars amid cautious buyers
Automakers plan more compact car production this year as buyers seek lower prices and better mileage. GM adds Saturday overtime at an Ohio Cruze plant, with Ford Toyota and Hyundai also increasing hours. Compact models around 16 000 dollars offering about 40 mpg aim to lure buyers amid a weak economy and Honda Toyota recovery from Japan quake impacts. A Conference Board survey shows more people intend to buy a car within six months, while Hyundai in Florida forecasts quick Elantra sales.
MENTIONED IN THIS ARTICLE
Detroit
General Motors
Ohio
Ford
Toyota
Hyundai
Honda
Japan
Conference Board
New Port Richey
Tampa
Fla
Elantra
Scott Fink
Norway's oil funds shield economy amid debt crisis
Norway stays buoyant as two large North Sea oil fields boost output and fuel wealth fund gains. Statoil calls the giant find timely. the sovereign wealth fund holds about 1.9 percent of European stocks and 1 percent of global shares, helping cushion Oslo from Europe’s downturn while raising concerns over domestic asset bubbles.
MENTIONED IN THIS ARTICLE
Oslo
Norway
Europe
U.S
Benjamin Johansen
U.N
Anders Behring
North Sea
Tim Dodson
Statoil
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