BRIEFS
Portugal 'on track'
Portugal is on "the right track" in meeting economic reform targets set by its international creditors in exchange for rescue funding, IMF chief Christine Lagarde says. "A significant part of fiscal adjustment has been carried out," she said. Portugal obtained a €78 billion ($A97 billion) bailout from the European Union and IMF in May 2011, and in exchange agreed to a three-year reform program that has thrown the country into recession and sent unemployment soaring to a record 16 per cent.
EMPLOYMENT
Jobs on rise
Despite concerns about looming tax increases and government spending cuts, US employers added 155,000 jobs in December. Employees also had slightly faster wage growth and worked longer hours, which could bode well for future hiring. The unemployment rate was steady at 7.8 per cent.
URANIUM
China, Japan lift
Uranium is poised to rebound from a second annual decline as Japan considers restarting its atomic plants almost two years after the Fukushima disaster and China pushes ahead with the world's biggest nuclear building program. A revival in demand from Japan is raising the prospect that supplies of uranium will shrink at the same time as China increases its nuclear power capacity.
LENOVO
Businesses split
Lenovo Group, China's biggest maker of personal computers, has split its main business into two as its range of products grows. Chief executive Yang Yuanqing told staff the first unit would be called Lenovo group, which would focus on the consumer business and mobile strategy, and the Think group, which would look after corporate customers. Lenovo has added tablets and phones to lessen its dependence on PCs, taking it into competition with Apple and Samsung.
PLANE
Exec missing
Fashion executive Vittorio Missoni and his partner are missing in Venezuela after the small plane they were travelling in vanished. Missoni is responsible for the company's marketing. Missoni knitwear is known for its patterns, which feature coloured stripes and geometric patterns.
Frequently Asked Questions about this Article…
Christine Lagarde said Portugal is "on the right track" in meeting the economic reform targets set by its international creditors. She noted a significant part of the fiscal adjustment has been carried out as part of the program tied to the rescue funding.
Portugal obtained a €78 billion bailout from the EU and IMF in May 2011 and agreed to a three‑year reform program. The program has thrown the country into recession and pushed unemployment to a record 16 percent, according to the article.
US employers added 155,000 jobs in December. Employees experienced slightly faster wage growth and worked longer hours, while the unemployment rate remained steady at 7.8 percent—signals that may be interpreted as modest job‑market improvement.
Uranium is poised to rebound because Japan is considering restarting its atomic plants almost two years after the Fukushima disaster, and China is continuing the world's biggest nuclear building program. Increased demand from Japan combined with China's capacity expansion could tighten supplies.
Lenovo split its main business into two units: the "Lenovo group," focusing on consumer business and mobile strategy, and the "Think group," serving corporate customers. The change reflects growth in product range beyond traditional PCs.
Lenovo has added tablets and phones to its product lineup to lessen dependence on PCs. By expanding into mobile devices, the company is positioning itself to compete directly with Apple and Samsung in the consumer electronics market.
Fashion executive Vittorio Missoni and his partner went missing in Venezuela after the small plane they were travelling in vanished. Missoni was responsible for the company's marketing; the Missoni brand is known for knitwear featuring coloured stripes and geometric patterns.
The brief highlights several themes: sovereign reform and fiscal stress (Portugal and its €78 billion bailout), labour and economic momentum (US job additions and wage trends), energy and commodities (potential uranium rebound driven by Japan and China), and corporate strategy shifts in technology and fashion (Lenovo's split and Missoni's management news). Investors may want to monitor developments in these areas as they evolve.
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