Business Update

Click the below link for snippets about retail sales, inflation, economic growth, Brazilian oil and yet another pro-business, anti-Democrat plaintiffs’ lawyer court decision.

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Retail Sales

Retail sales in March grew above Wall St. expectations and substantially above February’s growth rate (which itself was revised upward).

Inflation

Consumer inflation in March was at an annualized rate of 3.6%. That followed a flat reading (zero inflation) in February.

Perspective:

3.98% – year-over-year inflation – March 2008
6.55% – year-over-year inflation – March 1978

Economic Growth

According to the Fed’s “Beige Book” it appears the economy might have eeked out another small gain over the past 6 weeks. Six of 12 Districts reported muted growth; three of 12 reported flat conditions; three reported what could have been declines.

Overall growth has slowed. On the other hand inflation has reigned itself in somewhat. So, ergo, it’ll be interesting to see if the economy actually declined in Q1 in terms of real GDP. Don’t be shocked if it didn’t.

Glug, Glug, Glug

New Brazilian Oil Field Could Be Huge Find,
area could contain as much as 33B barrels

* * *
Ah, Brazil. The beaches. The oil. What more could you want from a potential military conquest?

Business Law

Courtesy of the AP:

The Missouri Supreme Court on Tuesday rejected class-action certification for a lawsuit claiming The Coca-Cola Co. misled consumers about the sweeteners used in some Diet Coke products.

A Jackson County judge had approved the lawsuit as a class action in February 2006. But the state’s highest court unanimously threw out that decision.

Similar class-action claims against Diet Coke already have been denied in California, Florida, Illinois, Kansas and Massachusetts, said Ray Crockett, a spokesman for The Coca-Cola Co.