Foreign investors are losing their appetite for U.S. bonds. Foreigners represented only 5.8 percent of bidders at last week’s auction of 10-year Treasury notes, down from an average of 25 percent over the past eight weekly auctions.
London Daily Telegraph
Iraqis are opening filling stations just to obtain rights to government-subsidized fuel shipments. Most of the fuel is sold on the black market, and some of the profits finance the anti-U.S. insurgency.
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The New York Times
Chinese firms are involved in 3,500 investment projects in the U.S., up from 1,500 five years ago, according to a study by Marysville University. The total value of Chinese investment in the U.S. is now as much as $7 billion.
U.S. News & World Report
U.S. sales of Irish whiskey grew 20 percent last year, to 860,000 nine-liter cases. To meet demand, whiskey distiller Bushmills is running three shifts a day, seven days a week.
Marketwatch.com
The University of California, Berkeley, has amassed a $1.1 billion fund to retain top professors. The money will be used to match any salary offers its academic stars receive from wealthier rivals such as Harvard or Yale.
Chronicle of Higher Education
The value of some classic cars has declined by about a third from two years ago, in more fallout from the credit and housing messes. “Home equity was the ATM out of which a lot of people were withdrawing money to have fun,” says McKeel Hagerty of Hagerty Insurance Agency.
The Wall Street Journal
