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▣ Feds: Homes with Chinese drywall must be gutted
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Thousands of U.S. homes tainted by Chinese drywall should be gutted, according to new guidelines released Friday by the Consumer Product Safety Commission. The guidelines say electrical wiring, outlets, circuit breakers, fire alarm systems, carbon monoxide alarms, fire sprinklers, gas pipes and drywall need to be removed.
▣ An RMB Revaluation: Could It Reduce Global Trade Imbalances?
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On March 16, five U.S. senators re-introduced a new bill to crack down on unfair currency manipulation by countries such as China, which they say is having a negative effect on the U.S. economy. Even if the bill is not passed, President Obama will increasingly be expected to step up pressure on China to raise the value of the renminbi against the U.S. dollar. The proposed legislation has aroused a hot debate in both countries about the pros and cons of a renminbi revaluation.
▣ Are your holiday lights a fire hazard?
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All counterfeit products are illegal. But counterfeit electronics are not just illegal, they are dangerous. “These things can kill you,” says Brett Brenner, president of the Electrical Safety Foundation, an industry-funded organization based in Roslyn, Va. "A counterfeit purse or a CD isn't going to hurt you. But a counterfeit electrical product will hurt you.”
▣ Toyota to recall 110,000 Tundras over rust
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Toyota Motor Corp. will recall 110,000 Tundra trucks from the 2000-2003 model years to address excessive rust on the vehicle's frame. The government urged owners to remove the spare tire from the frame, concerned it could fall onto the road and create a hazard for other vehicles.
▣ 10 most dangerous toys of 2009
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A foam rocket launcher, children's book and Batman and Wolverine action figures are among the most dangerous toys on store shelves, according to a consumer watchdog group. World Against Toys Causing Harm (W.A.T.C.H.) unveiled its annual list of the 10 worst children's toys, just in time for the holiday shopping rush.
▣ Chinese automaker aims to compete globally
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A state-owned Chinese automaker announced Tuesday it will take over several smaller producers amid a government effort to build up bigger domestic car companies that can compete globally. Changan Automobile Group said it will take over the auto assets of Aviation Industry Corp. of China, which will in turn receive a 23 percent stake in Changan. They include two Chinese brands and joint ventures with Suzuki and Mitsubishi.
▣ Nokia will recall 14 million faulty chargers
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Nokia Corp. announced Monday that some 14 million mobile phone chargers could be dangerous for users and said it will replace them free of charge.
▣ Global wages falling this year, UN says
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Real wages fell in the United States and some other wealthy nations in the second quarter of the year, raising questions about whether workers are sharing in any economic recovery, the U.N. labor agency said Tuesday. The International Labor Organization said inflation-adjusted wage growth fell sharply around the world last year to 1.4 percent, from 4.3 percent in 2007. It said wages are falling in a number of countries so far this year.
▣ Companies starting to spend on equipment
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Businesses are finally willing to spend more money on equipment, a healthy sign for the economic recovery. For the first time in nearly two years, companies ponied up more money for a category called "equipment and software" in the third quarter of the year.