Originally published on Fri December 2, 2011 5:55 pm
Not long ago, economists and others expressed concerns that China's economy was expanding too quickly. Now, the latest data are raising concerns about a slowdown — and the woes it could trigger.
With a sluggish U.S. economy and troubles in the eurozone, Chinese exports are taking a hit, causing a slowdown on shop floors in Shanghai and Shenzhen. Earlier this week, the Chinese Purchasing Managers' Index, or PMI, fell to its lowest level in nearly three years.
As we've noted before, 2011 has been a great year for Internet companies seeking to go public. Today, Zynga said it hoped to price its shares at $8 to $10 per share during its initial public offering later this month. Depending on whose math you trust, that means the company will try to raise about $1 billion and the debut could value the company at $7 billion. (Some news outlets are putting that number as high as $9 billion.)
What is Zynga you ask? They're the makers of social games like Farmville and Cityville.
The unemployment rate dropped unexpectedly to 8.6 percent in November, in part because hundreds of thousands of Americans stopped looking for work. But analysts said the modest increase of 120,000 jobs created last month points to an economy that's generally still limping.
Launching a new company is never easy. But in the beginning, the founders of Web-based marketing firm Bluebox Now felt they were on track. The Seattle startup lined up a large paying customer, had a lot of other great leads and was reasonably confident it would get a sizable amount of outside funding. A lot has happened since then.
New Orleans, La. – The Vice President said New Orleans and other cities and agencies will soon have an opportunity to shed some crushing debt. He said communities must show they still need help to have those loans forgiven.
He made the announcement at the St. Bernard Community Center. Senator Mary Landrieu joined Biden at the event attended by about 300 people. She also arranged for him to visit southwest Louisiana communities still recovering from hurricanes of 2005.
New Orleans, LA – Discouraging financial news seemed inescapable last year as America's economy continued to limp along. But narrow the focus to the realm of New Orleans restaurants and you might have thought 2009 was a boom year.