Friday, March 25, 2011
Stay current with what’s happening in the business world. Headlines from this week include...
U.S. Economic Recovery on Firmer Ground Than Expected at End of 2010
Gross domestic product, the value of all the goods and services produced in an economy, grew to 3.1% in the fourth quarter of 2010. That is greater than the 2.8% previously estimated. The increase is due to strong exports and consumer spending. While officials welcomed this news there are concerns about growth in 2011 due to higher gasoline and food prices, falling consumer sentiment and the depressed housing market.
Source: Financial Times
Warren Buffet and Bill Gates Encourage Other Billionaires to Donate Money
Warren Buffet as well as Bill and Melinda Gates traveled to India this week to meet with about 70 of India’s wealthiest people. According to the New York Times, they met for a “giving discussion” meant to start gently preaching the gospel of philanthropy. The discussion was reported to have addressed how to engage in outcome or results-based philanthropy. About 40 percent of India's 1.2 billion people live below the World's Bank poverty line of $1.25 a day, and there are staggering rates of malnutrition and preventable diseases. At the same time, India is home to more than 50 billionaires. Only the United States and China have more billionaires per country.
Source: New York Times