Surge in oil prices drives trade gap to record

Article Abstract:

The trade deficit of the US hit a record high for February 2000, due to high oil prices. The increase in the price of a barrel of crude, which reached $25, in turn inflated the gap between imports and exports to $29 billion. Imports for February 2000 were also at a record $113 billion, an increase of $1.6 billion from the previous month. The increase in oil prices and its impact on the trade deficit actually obscured the seven- month recovery of US exports.

Commodity & service prices, Crude Petroleum and Natural Gas Extraction, Crude Petroleum, Petroleum

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GM, Fiat capitalize on tie-up - but tension lurks

Article Abstract:

Fiat has entered into an alliance with General Motors Corp. The partnership will enable Fiat to remain independent and re-enter the US market where it closed up shop in 1995. The driving motivation behind their tie-up includes huge potential savings in puchasing and powertrain development in Europe and Latin America. The partnership is expected to save each company more than $260 million in 2001 and $860 million a year by 2005.

Automobile Manufacturing, Strategic alliances, Automobiles, Fiat S.p.A.

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Siemens cultivates American accent

Article Abstract:

Siemens will launch a public relations campaign aimed at making Americans more aware of the German engineering and electronics giant. Despite almost 50 years of doing business in the US, which Siemens considers to be its biggest market, only 12% of Americans can identify with it. It employs a total of 90,000 Americans, bigger than the workforce of Microsoft, Delta Air Lines, Intel, 3M and Compaq. Among its technological innovations include the x-ray tube, the in-ear hearing aid, autopilot flight controls and the CT scan.

Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Advertising, Siemens Corp.

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