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Business News Archive - May 30, 2009

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The White House's plans to recover the $50 billion to be sunk into General Motors depends on a quick rebound by the US automaker, analysts say.

BBC is negotiating with Google to have episodes of the British broadcaster's TV series available through the BBC iPlayer, sources close to the talks say. The anonymous sources said BBC Director-General Mark Thompson and Google Chairman Eric Schmidt have been discussing a joint venture that would create an international version of the broadcaster's iPlayer, The Daily Telegraph reported Friday. The sources said the new iPlayer version would be supported in an unspecified capacity by the video-sharing Web site YouTube, which is owned by Google. YouTube carries short clips of some BBC series, but no full episodes.

Poland's statistics office said the gross domestic product rose 0.8 percent in the first three months this year, a rare success among European Union countries. Despite this success, the Polish economy slowed down its growth rate, which hit 2.5 percent in the last quarter of 2008, documents showed. Maciej

Vendors at U.S. swap meets and flea markets say the recession is driving more people their way. When the dollar stores and Wal-Mart are doing good, so is the flea market, usually, said Mark Blakewood, executive director of the National Flea Market Association.

The Kindle electronic book reader should be considered an investment product by Amazon.com shareholders, the U.S.

Canadian auto supplier Magna International and General Motors Corp.

A Russian billionaire is denying a report he intends to build a luxury resort hotel on Turkey's Aegean coast, his spokesman says. A spokesman for metals magnate Mikhail Prokhorov said Saturday there's no truth to a report published in The Milliyet daily newspaper that Prokhorov is readying plans for a seven star Turkey hotel, RIA Novosti reported. It is untrue, the spokesman said.

Rising gas prices in the United States may hinder government attempts to bring the country out of recession, an analyst says. Tom Kloza, the Oil Price Information Service's chief oil analyst, said with gas prices rising steadily nationwide, struggling Americans may limit their summer vacations and therefore limit the country's economic recovery, CNN/Money reported Saturday. There's way too much optimism about a driving season lift, Kloza said. As of Saturday, a gallon of regular unleaded gas was selling at $2.488 national on average.

Sears is testing a new type of store in Joliet, Ill., where customers use a drive-through to purchase goods, the store's manager says. The Chicago Tribune reported Saturday that MyGofer debuted May 9 in Joliet.

Word of the Day
ecotone
  • A transitional zone between two communities containing the characteristic species of each.
The word 'ecotone' comes 'eco-' plus a Greek root meaning 'tension'.