Business

Chris Cantell Discusses Business: There is still hope
by Claudia Sonea

Finally the Republicans and the Democrats ironed out differences and an economic rescue plan on Thursday that would speed $600 to $1,200 in rebates to most taxpayers. After the Democrats dropped their demand that the proposal offer jobless benefits and heating aid for the poor, there was a public statement of the house leaders revealing that they want things to go as quick as possible and their original measure to be signed as soon as possible by the president. The news came in unsteady moment for the economy. In spite of the fact that the number of newly laid off workers filing applications for unemployment benefits dropped last week (The Labor Department reported Thursday a decline of 22000), the four-week average for jobless claims reached the highest level in a month (335,000). †The labor market has started to reflect the concerns about a possible recession created by a severe in economic growth. According to analysts decline in the number of jobless claims mid-December to mid-January a statistical error due to difficulty in adjusting the numbers around holidays and the start of the year and that it is most likely to increase again as more companies are forced to lay off employees.Ian Shepherdson, chief U.S. economist at High Frequency Economics said that if the companies cannot maintain earnings than they will be forced to cut down staff and his opinion is strongly vouched by the news gave by retailers of weak sales in January. The high gasoline and food prices, a slumping housing market and a severe credit crisis are making consumers to cut back. UBS-International Council of Shopping Centers made a survey involving 43 retailers and concluded that sales rose just 0.5 percent in January and did not meet the expectations of 1.5 percent.The stock market is looking brighter with the Dow Jones industrial average rose by 46.90 points to close at 12,247.00 after three straight days of stock losses due to investors putting aside their worries. Nevertheless the current quarter is considered by many economists to be the maximum danger point for the economy to slip into a recession. Some economists believe the GDP will turn negative in the current quarter and that would definitely mean that it is a recession (a recession is two consecutive quarterly declines in the GDP). All that is left is to keep hope and look forward to what is coming. The biggest drop in jobless claims from Michigan brings a small ray of hope and next weeks are critically. Stay connected and see what will happen next.

related story: http://news.yahoo.com/s/ap/20080207/ap_on_bi_go_ec_fi/economy;_ylt=AuFlVGD5k8mAPkJ_Dh37L5Ws0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Katarina Rastocna

Labels: Business, CantellTV, Chris Cantell, Christopher Cantell, digital broadcasting, SigEx Foundry, SigEx Telecom

posted by Blog TechSource @ 8:18 AM