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...ranting side, it has increasingly pinned the state of the economy on the two-month-old Administration, with Cramer offering recommendations to "Obama-proof your portfolio," a phrase that now comes up regularly on CNBC's air. (In response, The Daily Show aired a clip reel of the network's bad calls during the bubble, suggesting viewers might prefer to CNBC-proof their portfolios...
...Germany rose 21% year on year in February, the country's Association of the Automotive Industry (VDA) announced on March 3. This, though, was no error. The 278,000 cars put on the road, crowed VDA president Matthias Wissmann, amounted to the highest level of sales in the month of February in a decade...
...incentives to start buying again. In January, China slashed its sales tax on cars with engines of up to 1.6 liters. The measure, designed to get Chinese to buy smaller, more fuel-efficient vehicles, had an immediate impact. January sales of small cars jumped 19% compared with the previous month, according to the China Association of Automobile Manufacturers. The buying binge meant that, for the first time ever, more cars were sold in China (735,000 vehicles) in a month than were sold in the U.S. (657,000). In January at least, China was the world's largest car market...
Since the financial crisis hit Russia late last summer, more than 1.5 million Russians have lost their jobs and the ruble has lost a third of its value. On Friday the State Statistics Service reported that the annualized inflation rate had jumped to 13.9 percent - a four month high. The government predicts that the economy will shrink by 2.2% this year while the cost of buying an average monthly basket of food for an adult male in January was $61.34, up from $53.53 a year earlier. (The average monthly salary in Russia is $490.51, according to state figures...
...quickly parted ways and revived their decades-old poisonous rivalry. Zardari, who claimed the presidency for himself, reneged on a commitment to Sharif to reinstate the deposed Chief Justice Iftikar Chaudhry, who, along with a raft of other judges, was removed by Musharraf when he imposed emergency rule. Last month, in a controversial ruling, the Supreme Court barred Sharif and his younger brother Shahbaz from standing for elected office. The decision triggered the collapse of the Punjab government led by Shahbaz as Zardari moved swiftly to impose governor's rule on the largest and wealthiest province, handing over control...