There's no reason to expect US will go into recession in '08

Some analysts were predicting a recession would hit the US economy in the fourth quarter as consumers, hurt by falling house prices and the high cost of gasoline, cut spending.

Will Wien's prognostications prove right?

Byron Wien, the strategist whose New Year's predictions have influenced investors for a quarter century, said the US economy will fall into a recession and stocks will tumble 10 percent this year.

IN BRIEF (Page 16)

Business International

US auto giants to end '07 on flat note

General Motors Corp and Ford Motor Co will probably say December US auto sales fell as consumers reined in spending, ending a year with the lowest demand for cars and trucks in a decade.

S.Korea exports up less than expected

South Korean exports in December rose less than expected, data showed yesterday, and the government forecast overseas sales this year would slow on weakening demand from the United States.

Hyundai aims at 20% sales growth

South Korea's top automaker, Hyundai Motor Co, aims to increase car sales by a fifth this year to 3.11 million vehicles, but the ambitious growth target in fiercely competitive markets failed to impress investors, who marked Hyundai shares down more than 4 percent.

Mack, Ospel should hand back their 2006 bonuses

It's the season of goodwill, so some senior bankers, a breed not usually known for giving up rewards, have decided to skip their bonuses for 2007.

IN BRIEF (Page 16)

Business International

Champagne shortage to boost LVMH fortunes

When New Year's Eve revelers popped the cork on a limited-edition $1,150 bottle of 1996 Krug Clos du Mesnil champagne to celebrate the arrival of 2008, investors also had reasons to be cheerful.

Qualcomm punished over patent violations

A federal judge in California ruled on Monday that wireless chipmaker Qualcomm Inc must immediately stop selling third-generation, or 3G, WCDMA cellular chips that infringe on the Broadcom Corp patents.