jump to navigation

HAVE YOU HEARD OF THE NEWS? September 8, 2008

Posted by priscilaraposo in Uncategorized.
trackback

 

Europe‘s biggest economies stop growing

clip_image002

BRUSSELS, Belgium (AP) — Euro-zone growth braked sharply in the second quarter as major economies Germany, France and Italy shrank, EU statistics showed Thursday, with high fuel and food prices holding back consumer spending.clip_image003

Growth in the 15 economies that share the euro currency contracted by 0.2 percent from the first quarter, expanding just 1.5 percent from the same period a year ago, the EU statistical agency Eurostat said in a first estimate that it may change at a later date.

Germany, the region’s largest economy, shrank 0.5 percent in April-June from the previous quarter with France and Italy both down 0.3 percent.

German growth dropped for the first time in nearly four years. The world’s biggest exporter had so far weathered the economic storm brewing in Europe despite high inflation hitting spending at home and a slowing world economy and a strong euro hurting exports to the U.S.

No euro nation is yet officially in recession by showing two consecutive quarters of negative growth. Eurostat did not give a figure for Ireland, once a booming Celtic tiger economy, which contracted in the first quarter.

But worse seems yet to come. Business and consumer confidence in the euro area plunged to the lowest level in more than five years in July. The euro jobless rate also started to climb in April from an all-time low it reached in December.

 

 

Converting gas-powered cars to electric

clip_image002[4]

ATLANTA, Georgia (CNN) — Larry Horsley loves that he doesn’t buy much gas, even though he drives his ’95 Chevy S-10 back and forth to work each day.

clip_image003[6]Horsley, a self-described do-it-yourselfer, simply plugs his truck into an electric wall outlet in his Douglasville, Georgia, garage and charges it overnight, instead of buying gasoline refined from mostly imported oil.

“If I can keep a dollar from going overseas, I’ll spend two dollars,” he said. The whole conversion, including the truck, cost him about $12,000, which parts dealers say is about standard.

He’s among a growing number of Americans who are refusing to wait for big-car manufacturers to deliver mainstream electric vehicles, called EVs. Not only have they rebelled against the status quo by ripping out their gas-guzzling engines and replacing them with zero-emission electric motors, they say just about anyone can do it.

Another electric DYI-er in Wolfeboro, New Hampshire, Bob Batson, has formed a company called Electric Vehicles of America that sells vehicle parts for other anti-

Batson said business has more than tripled in the past year. “Sales trends are definitely up as the price of gasoline goes up,” he said.

www.cnn.com

Advertisements

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: