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Tuesday morning, December 07, 2004

FEATURES

The falling dollar

European Finance Ministers got together yesterday to talk about the dollar. It's dropped about 9 percent against the Euro since October. The EU is asking the Bush Administration to stem the fall. So why isn't the U.S. taking action? Stacey Vanek Smith reports. Also, the Economist's Zanny Minton Beddoes offers his perspective.

India's newest challenge

Intel recently announced it's investing $40 million to add facilities in the Southern Indian City of Bangalore. India's high-tech capital, Bangalore has become the hub of India's IT services economy. Two to three western companies now start operations in the city every week. But the government hasn't revamped the city's infrastructure fast enough to keep pace with its growth. Miranda Kennedy looks at whether this problem will impede India's plans to become a global business center.


NEWSCAST

From Rome: Italy's highest court has just come out with a sentence backing a children's right to be supported by their parents until they're economically self-sufficient.

From Boston: The Food and Drug Administration has issued final rules to keep the U.S. food supply safe under the Bioterrorism Act.

From Washington: More than a dozen expensive homes under construction outside of Washington DC were destroyed by fires yesterday morning. FBI agents suspect the fires may have been set by environmental extremists.

From Los Angeles: President Bush has talked about all the savings that would come from "privatizing" social security. Now it looks like the state of California's going to have that same debate, but over public pensions.

From Austin: Sandwich-maker Schlotzsky's is undergoing a makeover that it hopes won't be too extreme. The Austin-based company filed for Chapter 11 bankruptcy over the summer, and it's finalizing plans today to sell off its bun recipe, its franchises, and its brand to the highest bidder.

From Alabama: Drug companies spend billions of dollars a year promoting drugs to doctors ... but new research suggests the return on their investment may be diminishing.

From Beijing: China banned a Nike TV commercial featuring U.S. basketball star LeBron James fighting and defeating a cartoon kung fu master. The reason? It caused "indignant feelings among Chinese viewers" or at least Beijing says so.

Froim London: The BBC...the world's largest public service broadcaster... was in major trouble over its journalism last year. But the business side isn't doing too well either and now its announced a major overhaul. The organization is shedding around 3000 jobs.

From Los Angeles: A group of winery owners and consumers are asking the Supreme Court for the right to sell and ship wine across all state lines, direct to customers. Andrea Gardner has more about their case, and what a victory could mean for the industry.

DOW -1.47 DOW
-1.47%
NASDAQ -1.83 NASDAQ
-1.83%
Standard and Poors 500 -1.37 S & P
-1.37%
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