Nobody knows what’s happening and what is likely to happen and how the global economic landscape is going to change. Fitch cutting Greece’s sovereign rating and ratings of its five top banks (assets $470 bn) had only a marginal impact on the euro, though the Greek DyPM did try to pull in Spain and Portugal, saying they could be the next victims. Somebody said the Greeks aren’t as serious as the Germans; perhaps nobody is as serious as the Germans and the Chinese.

Partnerships break in times of extreme success or failure and that is the euro zone’s problem. Germany, Finland, the Netherlands and France are competitive while Greece, Italy, Portugal and Spain have easier outlooks towards life. However, all have benefited from the stable exchange rate euro has provided for trade within the zone; the euro is too big and strong to be killed by financial pirates ruling the world.

Low income never fails to teach thrift. Sooner or later, all will learn.

With net national savings at –2.5%, the US economy remains a mystery. While Obama and Geithner keep touting their success, distress is written all over faces of ordinary Americans. Unemployment doles are becoming unsustainable and even NY, which receives more visitors than any other city in the world, has a budget deficit. The federal govt is finally coming around to accepting VAT. The Fed is willing to maintain ultra-low interest rates as long as necessary; keep robbing millions of Pauls to keep playing the music that keeps Peters on the St swinging.

Speculation on China is growing, with asset bubble being the pet theory and the likely trade deficit in March providing a fillip, though few deny the solid foundation. Rural demand for durables and automobiles continues to boom on the back of subsidies, population of vehicles is still below 200 mn, which is less than a fifth of US on per capita basis, and there is the 3 tn reserve (don’t forget Hong Kong and Macau). What is relevant is China’s ability to continue to work hard and use money judiciously; issues of yuan appreciation and interest rates rising are largely irrelevant. Yuan trading against rouble, won and ringgit is being considered. Imagine what can happen if China fixes values of JPY and euro for the purposes of its own trade deals.

Anheuser-Busch InBev, Volkswagen, Novartis, Apple, Bridgestone, Google and Noble Group (Hong Kong) are the seven major global companies that managed to grow through the turbulent 2009, says SERI (Samsung).

Sony, Intel and Google are working together to develop TVs that would have built-in systems for surfing the web. NewsCorp continues to search for ways of preventing search engines from displaying full articles of its publications.

Daimler may join the Renault-Nissan alliance to share cost of developing new models. Hitachi says it has developed technology that doubles the life of lithium-ion batteries to over ten years. Japan Airlines is to cut workforce by nearly 10K, including 775 pilots and 2,460 flight attendants and British Airways is taking over Iberia (Spain) for $8 bn, expect synergy being over $500 mn a year.

Campbell is finding out that in recessionary times people shun soups and make do with the rest of the meal. Starbucks is finding the going tough in Australia and is preparing to once again go high end at home, with wine, beer and pastries served behind heavy curtains.

BASF is expected to bid for Cognis, maker of ingredients for shampoos and lotions and Pfizer says its Lipitor patent might expire but more products are in the pipeline for Alzheimer’s disease and cancer.

Blackstone owned Hilton hotel chain has cut its debt by $4 bn but still owes $16 bn. Lindahls of Sweden bought the image of a non-descript face from an agency for use in its ads, without bothering to take consent of the man in the picture; now the man is demanding what a celebrity would have demanded – about $7 mn.

Cosco (Shenzhen Energy) continues to have accidents, the latest being a coal ship leaking oil in an environmentally sensitive area in Australia, OAO Novolipetsk, Russian steel producer, is planning to expand capacity 40% to 17 mn tons at a cost of $4 bn, and AgBank of China is working on what may be the biggest ever IPO; at least 20 global banks are in line for a share in the pie.

France Telecom, having near $10 bn in usable cash, is preparing to go on an acquisition spree, particularly in Africa. Total is the latest to be investigated, among 2000 companies which are believed to have paid slush money to Saddam govt for buying cheaper oil.

What people are saying on Twitter is being analysed by techies; some at HP have developed a methodology to predict success or otherwise of movies on the basis of monitored tweets. Germans are taking to car sharing and staying single through out life in growing numbers. US needs more counsellors because about one half of marriages are ending in divorce and one analyst says superstars often have a demotivating impact on colleagues.

Ikea workers are striking because management has set limits on time spent in toilets; Carlsberg employees are livid because company doesn’t let them drink beer while on job, outside lunch hours. US army is telling soldiers in Afghanistan to do without burgers and pizzas as they are not on a picnic. A Republican was caught entertaining potential contributors at a sex-themed nightclub and sending love notes in text from cell phones is now known as chexting. One researcher has found out that the City is in trouble because only two percent of directors are female.

BoJ Governor Shirakawa says as long as US and China hold, Japan will hold. If you can see the dichotomy and aren’t tired enough of carrying your laptop to buy an iPad, you can manage your money and life reasonably well.

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