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business newsBest of the Blogs: Apple and Google Fighting Over Mobile Search
Minyanville's daily roundup of some of the best financial commentary from around the Web.
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All Things D
Link: Here’s What Apple and Google Are Fighting Over: Search Goes Mobile By 2016
"The tech press provides constant updates on the Apple vs. Google mobile war, using statistics about unit sales, activation numbers, app downloads, etc.. But it’s always good to remember what the war is about. Here’s a helpful reminder, via Bernstein research note out today. By 2016, analyst Carlos Kirjner predicts, the majority of Web search queries will come from mobile devices." (See also The New 'Too Big to Fail': How Google, Tech Companies Are Transforming the Economy.)
Credit Writedowns
Link: Greece and the Troika’s Treachery
"Of course, the current thrust of fiscal policy will almost certainly guarantee that there still will be a default, involuntary or otherwise, in spite of this agreement. If you don’t have a mechanism to allow growth, then how do the Greeks service their debt, even with the reduced debt burden? Perhaps that’s the idea. Make the deal so miserable for the Greek people that the Spanish, Portuguese, Irish and Italians don’t even begin to think of trying to get a similar haircut on their debt." (Also read National Bank of Greece: "It's All Good".)
Real Time Economics
Link: Bernanke: U.S. Needs Policies to Help Housing Recovery
"Federal Reserve Chairman Ben Bernanke Friday called for new policies to help the nation’s housing market, continuing a push by some at the central bank for additional measures to assist the troubled sector. “We need to continue to develop and implement policies that will help the housing sector get back on its feet,” Bernanke said in remarks prepared for a National Association of Homebuilders conference in Orlando, Fla." (For related content, see Can Facebook's Lowliest Millionaires Afford to Settle Down? The 5 Cheapest Homes in Palo Alto.)
Economix
Link: Why Manufacturing Still Matters
"As one of a rare group of economists who believe that “manufacturing matters” for the health of the American economy, I was heartened to hear President Obama emphasize manufacturing in his State of the Union address. During the last two years, the manufacturing sector has led the economic recovery, expanding by about 10 percent and adding more than 300,000 jobs."
China Realtime Report
Link: China to Buy More Than 30 Million Cars a Year by 2018, Says J.D. Power
"Auto sales hit 18 million vehicles in China last year. In the U.S., meanwhile, overall auto sales last year totaled 12.7 million. “We’re bullish on China,” Mr. Broderick said in an interview in Beijing on Friday. “The whole center of gravity in the global auto market has shifted from the West to the East, and this (China) is where we’re going to see action, at least over the next several years.” The driving force behind that sunny view: Growing discretionary income in China’s smaller, “lower-tier” cities.""
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