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Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring. “The second half of the year is shot,” said Michael T. Darda, chief economist at the trading firm MKM Partners in Greenwich, Conn., who was until recently optimistic that the economy would continue expanding. “Access to capital and credit is essential to growth. If that access is restrained or blocked, the economic system takes a hit.” Companies that rely on credit are now delaying and canceling expansion plans as they struggle to secure finance.

Drew Greenblatt, president of Marlin Steel Wire Products, figured it would be easy to get a $300,000 bank loan to finance a new robot for his factory in Baltimore. His company, which makes parts for makers of home appliances, is growing and profitable, he said. His expansion would add three new jobs to an economy hungry for work. But when Mr. Greenblatt called the local branch of Wachovia — the same bank that had been aggressively marketing loans to him for years — he was distressed by the response. “The exact words were, ‘We’re saying no to almost everybody,’ ” Mr. Greenblatt recalled. “This is why God made banks, for this kind of transaction. This is going to slow down the American economy.” More

The American carmaker General Motors is negotiating with Russian car producers to expand its business in Russia, the company’s European head Carl-Peter Forster told journalists in St. Petersburg. He declined to name the companies involved in the negotiations, however. He also declined to comment on the possibility of teaming up with GAZ to produce an economy car. Forster said that GM occupies an 11.3-percent share of the Russian market, up 2 percent from last year, and it plans to increase that share. GM president Fritz Henderson said that GM will sell up to 400,000 vehicles in Russia in 2008. The company’s previous plans were to sell about 300,000 cars here this year. More

JERUSALEM (AP) — The United States took Israel to task Saturday for a planned expansion of Jewish homes in the portion of Jerusalem that Palestinians claim for the capital of a future state. Secretary of State Condoleezza Rice said such moves undermine the U.S.-backed peace talks.

Rice, while making what has become nearly a monthly trip to assess the negotiations, said Israeli housing expansions are a recurring problem. In particular, she says she will discuss the latest announcement of 1,300 new homes in east Jerusalem with every Israeli official she sees.

With peace talks under way, Rice said, now is a time to build confidence on both sides. “This is simply not helpful to building confidence,” she told reporters before arriving in the Israeli capital. Read More

Recombinomics Commentary 05:21
May 15, 2008
It differs from the virus which in the past is verified in the country, presently has become popular in Indonesia and Vietnam

The above comments on the H5N1 in whooper swans in Japan indicate clade 2.1 or clade 2.3 has moved into long range migratory birds. Comments from South Korea on similarities between the H5N1 there and H5N1 in Vietnam suggest that H5N1 in both countries is clade 2.3 (Fujian strain). Although movement of H5N1 via migratory birds in eastern Asian is not well defined, an elaborate distribution route in areas west of China has been defined by surveillance and analysis of clade 2.2. Read more