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A research project’s been launched at an electronics fair in Austria to monitor interaction between humanoid robots and people.

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Japanese officials are struggling with the strongest currency in 15 years

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Former Secretary of State Madeleine Albright discusses the recent peace talks between the Israelis and the Palestinians.

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Wage increases will not hurt China’s competitiveness.

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Iraq’s plans to dramatically increase its oil production.

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Take a look into Japans soaring yen and mounting deflation.

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According to Reuters, Sony Ericsson will introduce its first smartphone for the Chinese market that runs on the network of China Mobile, the world’s biggest mobile carrier.

Read more:http://www.reuters.com/article/idUSTRE67U15H20100831

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Florida Senate candidate Rep. Kendrick Meek weighs in on criticism of President Obama’s economic team.

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Meet the JRCF 2010 Scholarship Winners

Karima Sultana Uddin (Wayne State University), Patricia Fieds (University of Michigan),
Arnetia Vaughn-Scott (Grand Valley State/Ford Motor Company Fund Recipient) &
Luis Lomeli (Michigan State)

Scholarship Committee: Marion Christian & Leah Hamood

Jalen established the Jalen Rose Foundation to create life-changing opportunities for underserved youth through the development of unique programs and the distribution of grants to qualified nonprofit organizations. Grants focus on education and sports and are distributed in Jalen’s hometown of Detroit as well as other communities in need. More than $1.2 million in charitable donations have been distributed since the foundation’s 2000 inception. Most recently, Jalen won the Community Champion Award from Black Enterprise for his outreach efforts in Detroit and was nominated for the prestigious Jefferson Award.

Source: www.jalenrose.com

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According to Reuters, – Gold regained strength on Monday as bargain hunters resurfaced after prices dropped slightly in the previous session, while demand from investors was likely to offset gains in the U.S. dollar.

Read more:http://www.reuters.com/article/idUSTRE67F05920100823

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According to www.detnews.com , private equity investor Tom Gores is the front runner to buy the Detroit Pistons. Gores, who owns a mega-equity firm in California but has a home in metro Detroit, shares similarities with the team’s late owner, Bill Davidson, including being turnaround specialists in business and being sports fans.

Tom Gores founded Platinum Equity in 1995 and has since grown the firm to over $27.5 billion in aggregate revenue across a diversified portfolio of companies. Tom’s guidance, core philosophies, and strong principles drive the strategic development and direction of both Platinum and its portfolio.

Early in his career, Tom was an active investor in smaller businesses, where companies often trade principally on their good word and ability to follow through on what they promise. Here he developed his principles of empowerment, hard work, and integrity. As he delivered on commitments made to deal partners, investment bankers, and lenders, Tom’s ability to execute larger and larger transactions grew exponentially, making Platinum one of the premiere private equity firms in the world, being recognized as one of Forbes’ “Largest Private Companies” within just 4 years of existence.

Believing that a team of outstanding people could meet almost any challenge, Tom began selecting the best and brightest he came in contact with to join him. The result is the Partners and Principals who lead Platinum Equity today. This top echelon of Platinum’s executive corps averages 11 years tenure with the 15 year-old firm. Strong relationships, trust in people, and open communication remain key to Tom’s and Platinum’s momentum.

Top business publications have recognized Platinum as one of the most important private companies in America, most recently ranking 27th on the 2009 Forbes list of America’s Largest Private Companies and #1 on the 2009 Los Angeles Business Journal list of LA’s Largest Private Companies. Tom appears on both the Forbes list of the World’s Billionaires as well as the Forbes list of Richest Americans, and is among the youngest individuals ever to appear on either.

Currently 45 years old, Tom resides in Beverly Hills with his wife and children. When not serving in his role as Chairman and CEO of Platinum, Tom is on either soccer field or basketball court coaching youth teams, applying the same principles of hard work and inspiration that he does to his business. He also maintains active interests in the arts, serving on the Los Angeles County Museum of Art’s Board of Trustees and pursuing interests in music. Tom holds a Bachelor of Science degree from Michigan State University.

Source:http://www.platinumequity.com/

                         www.detnews.com

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2. Netherlands – Debt/GDP: 467%
The national debt in the Netherlands has reached record levels as a
result of the world financial crisis and recession. Much of the added
burden was caused by significant government support for the country’s
banking sector. The increase in debt per capita is second only to that
experienced in Ireland. The Netherlands joined the eurozone
with a hard guilder a decade ago, but its current debt would likely
disqualify it for membership.

3. United Kingdom – Debt/GDP: 409%
Investment bank Morgan Stanley fears that Great Britain could face a
severe debt crisis in the near future if it continues down its current
path. According to the bank’s report, this is a case of not putting
aside sufficient reserves when the economy was sound. During the peak of
the boom, it still ran a budget deficit of 3% of GDP when other
European countries were running surpluses exceeding 2%.
Like many other countries, Britain bought time during the financial
crisis by implementing massive fiscal stimulus and forcing the public to
fund losses in the private sector. Without the restoration of fiscal
credibility, there is a significant danger of a government bond
sell-off, pound weakness and a flight of capital.

4. Switzerland – Debt/GDP: 273%
Generally regarded as having one of the world’s most stable economies,
Switzerland has taken its budget crisis seriously. When the national
debt began to escalate in the last decade, the Swiss voted to approve a
constitutional amendment forcing the government to balance expenses and
revenue during each economic cycle. While annual deficits may still
occur, this has instilled discipline in the process and lowered the
country’s borrowing costs as investors rushed to safety.
This so-called “debt brake” was implemented in response to increasing
debt stemming from a slowdown in economic growth. Deficits climbed as
spending rose for unemployment benefits and tax revenues declined. While
government expenditures were cut across the board, rising revenues have
not been sufficient to pay down the incurred debt.

5. Portugal – Debt/GDP: 228%
With last year’s deficit coming in at 9.4% of GDP, the Portuguese
government has instituted a growth and austerity program with the
objective of reducing that number to 2.8% by 2013. These measures have
sparked strikes in the public sector including postal and transportation
services. Those events have been further propelled by unemployment
above 10%, the worst in 40 years. The root problem has been
low productivity and virtually no economic growth in the past few
years. Portugal ranks last in GDP growth among countries that adopted
the euro as a common currency. Demand for goods and services has
stalled, along with innovation and business momentum. In addition,
Portugal’s exports have been undercut by cheap labor in countries such
as China. (For related reading, see The Economics Of Labor Mobility.)

6. Austria – Debt/GDP: 214%
The recession and government assistance to banks have contributed to
the budget crisis in Austria. The finance minister has rejected the
notion of higher taxes in favor of administrative reforms to cut
spending. He has predicted that the annual deficit would grow from 3.5%
to 4.7% of GDP between 2010 and 2012 before starting to decline. That
peak would be the third-highest since 1976 when such data were first
recorded. Rising unemployment has resulted in increased
expenditures for unemployment compensation and other government
benefits. In addition to the reduced payrolls, tax reforms have driven
down overall tax revenues.The Bottom LineWhile
the U.S. and Canada have large economies, their respective debt-to-GDP
ratios are 93% and 62%. The U.S. gets most of the attention because of
the size of the numbers that comprise the ratio – $13.5 trillion debt
(June 2009) and $14.4 trillion GDP (2009 estimate). By
comparison, China and India have ratios of 7% and 20% respectively.
Their economic growth rates have also exceeded the western nations over
the past few years, thereby keeping their debt ratios relatively low. If
the western nations don’t implement policies to reduce their debts,
they run the risk of jeopardizing future economic growth and prosperity.

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Introducing the Verizon Tablet. Download Squad writes that the tablet will be manufactured by HTC and run on Google’s Chrome operating system. As for hardware, Download Squad says “it’ll likely be based on NVidia’s Tegra 2 platform and sport a 1280×720 multitouch display, 2GB of RAM, minimum 32GB SSD, WiFi/Bluetooth/3G connectivity, GPS, webcam, and possibly expandable storage via a multi-card reader. As far as a data contract, there might be an amazing data plan deal with Verizon.

The Tablet is expected to hit stores as soon as November 26.

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Japan’s Economy slowing

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‘Inspiration To Take The World By Storm’ – Meet The Inspirational But Unknown Self-Made Black Billionaire Brothers That Own Almost Everything (Video Inside)

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Happy birthday, Mr. President. President Obama turns 49 years old today, and plans to fly back home tonight for a low-key celebration according to www.usatoday.com .

Read more:http://content.usatoday.com/communities/theoval/post/2010/08/obama-celebrates-birthday-number-49/1

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According to www.usatoday.com, The former head of Haiti’s Chamber of Deputies says singer Wyclef Jean is about to announce his candidacy for president of the nation still struggling to recover from the Jan. 12 earthquake. (Aug. 3)

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According to Reuters, – Blackstone Group LP (BX.N) has agreed to buy a Hawaiian shopping mall and a stake in a warehouse venture for a combined $859 million, a source familiar with the subject said on Monday.

Read more here:http://www.reuters.com/article/idUSTRE67205220100803

                             http://www.blackstone.com

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