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Economic News Investigations

"The Internet Economy in the G-20"

In the article, it talks about how ever since 1985, the internet had not stopped growing. It has sailed through multiple recessions and one near-collapse and kept on increasing in use, size, reach, and impact. They say that by 2016, there will be 3 billion internet users globally, which is almost half of the world's population. The internet economy will reach $4.2 trillion in the G-20 economies. Across the G-20, it already amounted to 4.1% of GDP, or $2.3 trillion, in 2010. The internet is contributing up to 8 percent of GDP in some economies, powering growth, and creating jobs. This is connected with economics by the concept of GDP, which is the measurement of final goods/services produced in a nation during a set period of time.


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"Apple iPhone 'Monopoly' Challenged"

The article talks about how a civil lawsuit in California accuses Apple of creating an unlawful iPhone monopoly and releasing a software update that turns hacked devices in "iBricks" as revenge. The lawsuit also says that Apple released a software update that disables iPhones that customers managed to unlock to choose a different carrier. The lawsuit says Apple has created a monopoly by forcing iPhone buyers to use AT&T and not "unlocking" the devices to allow service from other characters. The suit demands a jury trial and asks the court to order Apple to unlock iPhones and provide warranty service to hacked devices. It also demands Apple be forced to pay unspecified cash damages. "Apples unlawful trust with AT&T substantially lessens competition and tends to create a monopoly in trade and commerce throughout the entire United States," Fernandez claims in the suit. This article relates to the economic topic of monopolies, which is the exclusive possession or control of the supply or trade in commodity or service.


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"Payrolls in California Grow by 11,800"

The articles talks about how California's employers added 11,800 jobs in March of 2014. While the unemployment rate healed steady at 8.1%. "We are zig-zagging on a monthly basis. One month is strong and the next is weak," said Esmael Adibi, an economist at Chapman University. California employers have now added a net 325,100 jobs over the last 12 months, the biggest gains of any state. Its payrolls grew by 2.2%, compared with 1.6% for the U.S. overall. But they say that that's still not enough to make a huge difference or to help people like Oscar Garcia. The increase in the labor force is the factor in the flat unemployment rate month-to-month. A growing labor force could push the unemployment rate up even is employers keep hiring. This fits in the economic category of unemployment, which is, the state of being unemployed.
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"Durbin's Income Down, Federal Taxes Up in New Disclosure"

The article talks about how Senator Dick Durbin and his wife saw their income take a dip down and their tax bill rise in 2013, compared to the year before. Him and his wife had adjusted gross income of more than $277,000 the year before and they paid over $63,000 in federal taxes. Their state taxes in 2013 were $11,180. In 2012 they gave over $16,000 to charity. They also reported $440 in capital gains, nearly $500 in interest payments, and dividends of nearly $2,000. Their adjusted gross income was more than $282,000 and their federal tax bill was $59,076 in 2012. This article relates to the economic category of taxes, which is, a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

"Wipro Consumer Care & Lighting Sees a Billion-Dollar Revenue This Fiscal Year"

The article talks about how Wipro's consumer care and lighting business could end this fiscal year with $1 billion in revenue, which will lead to a better second-half of the year for the company. They reported a little more than 5,000 crore in revenue in the year ended March 2014, saw a 25% growth in revenue in the quarter ended September, according to a senior company executive. The fast-moving consumer growth has halved to 9% in 2013 from 18% in 2012 with some experts penciling-in a lower growth for this year on account of "uneven demand". Wipro's lighting and furniture business accounts for 18-19% of the company's domestic sales of about Rs 2,400 crore. It recorded a 14% growth during the second quarter. In India, like in Indonesia and Malaysia, Wipro Consumer currently generates less than 1% of overall business from e-commerce sites. This article relates to the economic category of Revenue, which is, income, especially when of a company or organization and of a substantial nature.
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