A Russian cargo ship was launched successfully to the International Space Station on Sunday, clearing the way for the next manned mission and easing concerns about the station’s future after a previous failed launch
More than 60 percent of global consumers downbeat: Nielsen
Reuters US Online Report Business News
Oct 30, 2011 16:11 EDT
LONDON (Reuters) – Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one-in-three North Americans saying they have no spare cash, a survey showed on Sunday.
The economic outlook, followed by job security, became consumers’ biggest concern in the third quarter, overtaking worries about rising inflation, according to the quarterly survey by global analytics and information company Nielsen.
The Nielsen Global Consumer Confidence Index dipped just 1 point in the third quarter from the second quarter to 88 points, but it was shored up by a surge in confidence in emerging economies Brazil and Saudi Arabia, which masked weak confidence in major developed economies.
A reading below 100 indicates consumers are pessimistic about the economic outlook for the coming months.
Confidence was highest in India for a seventh straight quarter but India’s reading fell 5 points from the second quarter and Saudi Arabia was catching up.
Consumer morale in the euro zone remained especially weak, notably in France, as the region’s debt crisis deepened during the summer. Confidence in Greece, at the center of the crisis, actually rose sharply but it was still the fourth-weakest of markets surveyed. Confidence was lowest in Hungary.
One-in-five Europeans said they have no extra cash to spend, although that was better than one-in-three North Americans. Confidence in European powerhouse Germany was better than much of Europe and the United States, but like the U.S. its reading dipped 1 point from the second quarter.
“The third quarter was volatile and challenging for global economies and financial markets amid stagnant U.S. unemployment figures and a worsening euro zone debt crisis,” said Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen.
“A recessionary mindset is growing among consumers as more than half say they are currently in a recession — up 4 percentage points from last quarter and 7 points from the start of the year. The result is continued spending restraint for discretionary expenses, which is expected to continue into next year.”
The survey, taken between August 30 and September 16 and covering 28,000 consumers in 56 countries, showed 64 percent of consumers globally saying it was not a good time to spend.
Financial markets picked up last week following a euro zone agreement to tackle its debt crisis and after encouraging third-quarter economic growth data, but further positive data will be required to reassure consumers.
Confidence in China dipped a point while in Europe the Baltic states of Latvia and Lithuania saw a surge in confidence, though it was still relatively low.
The survey showed that global consumers facing tighter budgets would cut back on clothing purchases, dining out and buying electronics and appliances before anything else.
“If the global economic climate worsens, these three sectors appear to be particularly vulnerable,” said Bala.
The survey is based on consumers’ confidence in the job market, status of their personal finances and readiness to spend.
Source: Reuters US Online Report Business News
TAMPA, Fla. — The estranged father of actress Lindsay Lohan has been denied bail in Florida.
Hillsborough County jail records show Michael Lohan was being held Saturday without bond on four charges.
He was arrested on domestic violence charges Tuesday. His bail was set at $5,000 and a judge warned him not to make any contact with his on-and-off girlfriend. Two days later, he was accused of violating the terms of his release by making a harassing phone call to her.
Police went to arrest him and he tried to avoid them by jumping off a third-floor balcony at a Tampa hotel. He was injured and had to be taken to the hospital.
He was released from the hospital Friday and put back in jail.
Lindsay Lohan’s father arrested again in Florida
Reuters US Online Report Entertainment News
Oct 27, 2011 10:40 EDT
ST. PETERSBURG, Fla (Reuters) – Actress Lindsay Lohan’s father was arrested for the second time this week on Thursday after his release from a Florida jail on domestic violence charges, authorities said.
Michael Lohan, 51, was initially arrested on Tuesday after his girlfriend Kate Major said he grabbed her, pushed her to the floor and threatened to throw her off the fourth-floor balcony of her apartment in Tampa.
Lohan, who denied hurting the 28-year-old Major, was released on $5,000 bail Wednesday after a judge ordered him to have no more contact with Major.
According to a police statement, Major called early Thursday to say Lohan was making harassing telephone calls to her. When police were at her apartment, Lohan called and Major put the call on speaker phone.
After consulting the state attorney’s office, police went to a Tampa motel to arrest Lohan for violating the terms of his release.
“Upon seeing officers, he (Lohan) jumped out of a third story balcony in an attempt to avoid arrest. After a short foot pursuit, he was taken into custody without incident,” Tampa Police Lieutenant S.J. Lee said in a statement.
Lohan complained that he had injured his foot in the fall and was taken to a hospital to be checked before being returned to jail.
As he was leaving the police station, Lohan told local television that Major had called him because she was being evicted from the apartment.
“She keeps doing this. She needs help, she calls me and I’m a sucker. I call back and I’m an idiot,” Lohan said.
(Editing by Greg McCune)
Source: Reuters US Online Report Entertainment News