The US once exported jobs. Now, it is exporting unemployment.

A post-Thanksgiving bump may not be enough to rescue what might be the worst holiday season for US retailers in six years.

GUANGZHOU: To mark the 30th anniversary of China's opening-up and reform policies, the Guangdong provincial government held its first forum on modern tourism on Nov 28, part of the ongoing 2008 Guangdong International Tourism and Culture Festival.

GUANGZHOU: Market-oriented operation is a core value of the 2008 Guangdong International Tourism and Culture Festival and Pan Pearl River Delta Tourism Promotion Convention.

GUANGZHOU: Colorful Guangdong was shown to audiences on the night of Nov 28 at the opening ceremony of its 2008 International Tourism and Culture Festival and Pan Pearl River Delta Tourism Promotion Convention.

Stocks in Europe and Asia fell, sending the MSCI World Index to its first drop in seven days, as a record decline in European manufacturing signaled the global economic slump is worsening. US index futures retreated.

Budget airline Ryanair launched a new takeover bid yesterday for Aer Lingus, seeking to capitalize on labor unrest at its Irish rival and Ireland's economic difficulties.

ThyssenKrupp AG will cut costs by more than 1 billion euros this fiscal year as a weakening of demand from carmakers and builders leads to a "significant" drop in sales.

Nissan Motor Co, Japan's third-largest automaker, said governments in Japan, Europe and the US should aid carmakers to prevent higher unemployment.

Some Chinese local governments are in danger of speeding up environmental degradation in the name of maintaining stable economic growth while they have been urged to quickly launch investment projects to keep the economy humming.

SHANGHAI: Decisive and coherent policy measures to revitalize the equity market are needed to materialize the 4 trillion yuan stimulus package and also shore up China's economy, ten top economists said in a joint plea to the central government.

IT vendors in China are starting to feel the pinch from the economic slowdown as sales slacken in Zhongguancun, the technology hub in the country.

SHANGHAI: The sudden collapse of BHP Billiton's takeover of rival Rio Tinto Group on Nov 25 may give the Chinese steel industry a vantage point in the negotiation of iron ore prices, experts said.

A company in Hunan province was compensated 11,000 yuan for an environmental liability policy it bought from Ping An Insurance.

China National Petroleum Corp (CNPC) yesterday said it had made six major oil and gas discoveries this year, as the company has put increasing focus on exploration.

SHANGHAI: Profitability of Chinese banks are likely to come under pressure next year after the steep reduction in lending rates, according to bankers and economists.

Chinese Internet company Baidu Inc may have to face a legal dispute by the end of this month.

A bounce by property shares, after China Merchants Property Development Co successfully sold 5.94 billion yuan of new equity, lifted mainland stock market yesterday.

Editor's note: Oshkosh, one of the world's largest specialty truck makers, has been offering product and service support in China since 1982.

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