Money Matters - Simplified


A win for Motorola in the patent war against Microsoft

Motorola has won an initial ruling against Microsoft in its patent war against the Redmond-based giant.

China's troublesome trade surplus shrinks

Beijing -- China Wednesday said its monthly trade surplus fell in September from $20 billion to $16.9 billion, although exports rose 25 percent in the month.

Imports jumped almost as high, climbing 24 percent, The New York Times reported.
Along with the trade figures, China said its foreign reserves reached a record $2.65 trillion with an additional $194 billion added in September.

UBS economist Wang Tao said, "The trade surplus is coming down, but it's still going to be $180 billion this year. And the reserve figure was $194 billion. That's huge."

U.S. trade deficit declined in July

Washington -- The U.S. trade deficit declined in July with a sharp drop in imports, the Bureau of Economic Analysis said Thursday.

The deficit, at $49.8 billion in June, dropped to $42.8 billion, as imports fell by $4.2 billion to $196.1 billion.

Exports rose in the month, up $2.8 billion to $153.4 billion.

The deficit in trading for goods dropped by $7 billion from a month ago to $55.2 billion, while the spread was unchanged in service businesses, where a $12.5 billion surplus held steady June to July.

The bureau said deficits dropped in trading with China, the Organization of Petroleum Export Countries, Mexico, Canada and Japan, but rose in trading with Germany, Ireland, and the European Union.

Eurozone posted trade surplus in June

Brussels -- A rise in exports outpaced a rise in imports in the June in the eurozone, the European Union's statistical office said Friday.

The eurozone, comprised of 16 nations that share the euro as currency, posted a $3 billion surplus in the month with a 5.2 percent rise in exports and a 4.3 percent rise in imports compared to the previous month, Eurostat said.

The surplus is sharply lower than the $6.6 billion surplus of June 2009; however, it is a considerable step up from the $4.2 billion deficit posted in May.

For the larger, 27-member European Union, the trade deficit was $12.2 billion in June, Eurostat said.

U.S. autos top imports in vehicle appeal

Westlake Village, Calif. -- U.S. auto brands surpassed imports as a whole in vehicle appeal for the first time in 13 years, a J.D. Power and Associates study indicated Thursday.

The Automotive Performance, Execution and Layout, or APPEAL, study found that, on average, 11 domestic U.S. brands scored 787 versus 774 for Asian and European competitors -- the first time U.S. domestics outperformed import brands since 1997, the marketing information service company said.

By comparison, in 2009, import brands outpaced U.S. brands by five points, J.D. Power said.

The study reviewed 76,000 consumer assessments of 33 current-year brands, judged in 80 categories and ranked on a 1,000-point scale.

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China portends rise in international trade

Beijing -- China said both exports and imports increased sharply in January, a sign the Chinese and global economies are pulling from the recession's undertow.

Chinese exports jumped 21 percent, while imports soared 85 percent compared to January 2009, data released Wednesday indicated. For the month, China's trade surplus was $14.17 billion, down from December's $18.4 billion.

While China's economy grew through the near-global recession, its trade figures can be viewed as a barometer of international trade, which fell sharply in 2009 due to decreased consumer spending and business investments.

Germany's economy contracted 5% in 2009

Frankfurt, Germany, January 13 -- In what can be termed as the worst economic performance of the country since the World War II, Germany’s economy contracted 5 percent in 2009.

GM looks at Chinese made cars for America

Michigan, May 13: Markets across the globe have already been inundated with products made in China. Beginning 2011, the nation would witness an influx of cars of Chinese origin as General Motor Corp (NYSE: GM) intends to import vehicles manufactured at its joint ventures in China.

Exports, imports decline in February

New Delhi, April 1 -- India's merchandise exports dipped 21.7 percent in February to Rs.58,685 crore ($11.91 billion), as compared to Rs.60,476 crore ($15.22 billion) in the corresponding month last year, according to government data released Wednesday.

Exports figures have been contracting since last October, forcing the commerce ministry to revise the target for 2008-09 to $175 billion from $200 billion following fall in overseas demand.

February's imports also contracted 23.3 percent to $16.82 billion, as against $21.93 billion earned the same month last year, the government said.

Trade deficit this February stood at $4.91 billion, 26.83 percent lower than $6.71 billion in the corresponding month last year.