YEARS OF SUPPORT: The proposal to help Northern Rock would probably cut the chances of it being nationalized by reducing the financial pressure on private bidders
British Treasury chief Alistair Darling will make a statement to parliament tomorrow about troubled mortgage lender Northern Rock PLC, a government official said yesterday.

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US video game industry sales rocketed to a record high of US$17.9 billion last year, with Nintendo reigning as champion of the console battle with Microsoft and Sony, research group NPD said.

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NOT THE ANSWER: Robert MacIntosh, chief economist for Eaton Vance Corp, said the idea to boost the economy would be less effective than permanent tax changes
Is the economic stimulus plan of at least US$140 billion expected to come out of Washington the right medicine for an ailing US economy, or an election-year fiscal folly?

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SIDE BY SIDE: The two countries have drawn up guidelines on bilateral trade relations aiming to boost cooperation in the high-technology industry
Several international Canadian enterprises set up regional operation centers in Taiwan last year, with investments amounting to US$6.5 million -- representing 47 percent annual growth -- a Ministry of Economic Affairs (MOEA) official said yesterday.

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The recent bleak returns on Wall Street have ushered in a period of accord among investment advisers. Many are prescribing the same bromide to their clients: Switch to defensive stocks and cut back on bonds.

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RECESSION SPECTER: New York stock prices wilted in the wake of disappointing news from Intel and the worst year for the US home construction industry since 1980
US stocks posted their steepest weekly drop since July 2002 after lower-than-estimated home construction, retail sales and manufacturing reinforced speculation that the economy is falling into a recession.

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European stocks declined for a sixth week after economic reports and earnings from the US deepened concern the world's largest economy is sliding into a recession.

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NO DECOUPLING: The TAIEX was the only major regional benchmark to post a weekly advance, on anticipation of an eventual China-friendly policy driven by the KMT
Asian stocks fell for a third week, on concern the world's largest economy will enter a recession.

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Asian currencies dropped this week, with South Korea's won having its worst five-day decline in two months, as overseas investors sold the region's shares.

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Crude oil prices inched up on Friday after three days of losses as investors struggled with concerns about the US economy but held on to hopes that US President George W. Bush's stimulus plan will work.

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The US dollar rose against the euro and the pound, but fell against the yen and Swiss franc on Friday amid news Washington propoeses an economic stimulus package to avert recession.

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