Marketplace AM for June 28, 2006
Commentator David Frum argues the real culprit behind inflationary pressures around the world is higher oil prices, and that Iran's nuclear program only makes matters worse.
Quick, what time is it? More of us are checking our cell phones to answer that question, and that's bad news for the wrist watch industry. Doesn't help that watches have fallen out of favor with young people. Lisa Napoli reports.
The world's largest automaker announced yesterday that sales this year were expected to be lower than last year's. So GM has instituted another new buyer incentive plan to help clear inventory. Bob Moon reports.
Honda has been pondering where in the Midwest to build its $400 million auto assembly plant which is expected to provide 1,500 jobs. The winner is Greensburg, Indiana. Jocelyn Ford reports.
Telecom equipment maker Nortel said yesterday it was cutting 1,100 jobs and scaling back its pension program to help it compete in an increasingly tight market. Janet Babin reports.
A new study out shows the number of children living in poverty is up 8 percent. Hillary Wicai has more.
Today, the US Postal Service and competitor UPS are set to announce a deal to work together. UPS will start carrying US mail on its planes as soon as this weekend. Amy Scott reports.