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Inconspicuous Consumption

Atlantic, by Virginia Postrel - About seven years ago, University of Chicago economists Kerwin Kofi Charles and Erik Hurst were researching the “wealth gap” between black and white Americans when they noticed something striking. African Americans not only had less wealth than whites with similar incomes, they also had significantly more of their assets tied up in cars.

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Stocks: A Terrible Thursday

BusinessWeek - Major U.S. indexes each tumbled nearly 3% as worries intensified over the health of the economy. All eyes are on Friday’s jobs report.

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Storm clouds over the oil market

Financial Times - Bullish forecasters who predicted a few weeks ago that oil prices would soon top $200 a barrel may be feeling chastened. The price of US West Texas Intermediate is down almost 27 per cent from its July record of $147.27 a barrel, trading at $108 on Wednesday, a whisker [...]

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EU to propose caps on fees for text messages

IHT - The European Union’s telecommunications minister plans to propose a new set of price controls that would sharply cut the roaming fees charged by mobile operators to send short text messages while also reducing the cost of surfing the Internet on a cellphone.

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Solar panels ‘take 100 years to pay back installation costs’

Independent - Solar panels are one of the least cost-effective ways of combating climate change and will take 100 years to pay back their installation costs, the Royal Institution of Chartered Surveyors (Rics) warned yesterday.

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Oil at $80 a Barrel?

BusinessWeek - With energy prices falling despite Hurricane Gustav, traders are talking about the end of a speculative bubble.

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Tiny Turbines May Have a Bright Future

Spiegel - They are small and look more like art than innovation. But the mini-windmills built by a British company could soon be on roofs across Europe and the US — if German energy giant RWE has its way.

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German Banking Gets Boost From Mega- Merger

Spiegel - Commerzbank’s €9 billion takeover of Dresdner Bank, agreed by their supervisory boards on Sunday, will create a second major national banking champion alongside Deutsche Bank. It’s a move that will help both Germany’s financial sector and its medium-sized businesses to compete internationally.

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