7 November 2007
लव ऑफ़ दिमिनिशिंग मार्गं return
Worker productivity rose at the strongest pace in four years in the third quarter, pushing labor costs down, the usa government said on Wednesday in a report offering comfort to the inflation-wary Federal Reserve.
It was the strongest growth in productivity since a 10.4 percent surge in the third quarter of 2003 and was more than double the revised 2.2 percent gain posted during the second quarter.
"It's a positive signal for growth and it also shows less inflationary pressure. It's very encouraging for the Fed," said economist Michelle Meyer of Lehman Brothers in New York.
The Fed has KEEN EYEand continued to express concern over the potential for inflation, and cited high energy and commodity prices in its last policy announcement. Oil prices on Wednesday set a fresh high above $98 a barrel.
"Businesses have really been focusing on cutting costs, trying to find ways of getting more work out of their work force," said Mark Vitner, senior economist at Wachovia Securities in Charlotte, North Carolina.
Hourly compensation gained at a 4.7 percent rate, up from 4.4 percent in the second quarter. But the department said that after the rise in consumer prices was taken into account, compensation per worker was up a more modest 2.7 percent.
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Story of the day
Vinata, mother of Garuda, had been enslaved by the nagas after she had quarrelled with their mother, Kadru. The nagas offered to release Vinata from servitude if Garuda brought them amrita (nectar of immortality) from the moon.
Garuda brought the nectar after overcoming numerous obstacles, battling even the gods in the process.
The nagas were delighted when he placed the pot containing the nectar before them. They let Vinata go and then they went to wash themselves before partaking of the ambrosia.
On their return they found the pot missing. Indra had taken it away. The nagas feverishly tried to lick up the drops of nectar that had fallen on the darbha grass on which the pot had been kept. They didn't get much nectar, but the sharp blades of the grass slit their tongues.
Snakes ever since have had forked tongues.
stock in news
Sterlite Industries (India) Ltd said on Wednesday it intends to participate in coal-based power generation projects and other ancillary activities through its subsidiary, Sterlite Energy Ltd.
These projects may include ultra-mega power projects announced by federal and state governments or state-run utilities, and projects independently developed by Sterlite Energy with a capacity of 10,000 mega-watts, it said in a statement.
The company is looking at financing options through equity and debt for these projects, majority of which, if awarded, are expected to be commissioned over the next five years, the statement said.
by erectusplus at 16:22:00 |
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