Federal Reserve's beige book points to a soft economy.

The combination of high prices, weak job market and consumers cut back in spending, contributed to a slow economic growth in the final days of July and into August according to the latest beige book just released by the Federal Reserve Bank. According to the book, released on Wednesday, "the economy spent the summer in a rut, with consumers feeling little relief from the government's tax rebates."

For more, see Chicago Tribune.com

Pole Dancing studio denied a permit by township.

With the aid of the American Civil Liberties Union, a Pennsylvania women has sued a Township named Adams for violating her First Amendments rights when it denied her permit to operate a pole-dancing studio. The women, whose day job is computer system analyst, said what she is teaching is an art form and a respectable and recognized form of exercise. She also claimed that despite classed titles like "Stiletto Strut" and "power Lap Dancing," her audience is strictly made of fully clothed students with no paying spectators. But the zoning board denied her appeal despite the testimonies of several students clients, included a grandmother.

For more, see ABC News

CNBC joins in with LinkedIn.

Trying to draw from each other's strength, CNBC the business news channel and LinkedIn the social networking site for business executives, have brokered a partnership deal. The deal calls for CNBC to air community generated content such as surveys and polls from LinkedIn's nearly thirty million members and to make LinkedIn networking tools available to cnbc.com users.
In return, CNBC will provide its programming, articles, blogs, financial data and video content to LinkedIn.
The clear winner here is CNBC who will be able to offer its advertisers, a highly targeted audience. To alleviate some fears of lost of privacy by its members, LinkedIn said that CNBC will not have access to its members' profile information, at least for now.

For more, see Reuters.

Aston Martin gives a sneak into the upcoming 77 Sport car.

British sports-car maker Aston Martin just revealed glimpse of its much hyped new model set to topple the Bugatti Veyron launched in 2005, as the world most expensive car. The new Aston Martin now known only as One 77, get its code name from the fact that only 77 units will be built. It is said to be made of carbon fiber and aluminum and is set to go onto production as early as 2009 with a sticker price in the neighborhood of $1.8 million. The car has its own web site and can be previewed at www.one-77.com.

For more, see Cnet.com

Canada said to be on verge of recession.

New figures out last week reveal Canada's economy barely grew in the second quarter, victim of the decline of US demand for Canadian goods. The gross domestic product expanded only by just 0.1 per cent over the quarter, much less than what the Bank of Canada and most forecasters have predicted.

For more see Reed Construction Data.

Japan to roll up stimilus plan.

The Japanese government unveiled Friday a series of economic measures meant to rescue the stagnent economy. They include an income tax cut, fuel subsidies and government loans to small and mid-size business for a stimilus pacjage worth Y11,500bn about $18 billion. This will be the country 15th in sixteen years.

For more, see FT.

Russia spells five guiding principles in World affairs.

Foollowing its invasion and pullout of Georgia, Russian President Dmitri A. Medveded spelled his government's five guiding principles in foreign policy in a speech Sunday in the Black Sea resort of Sochi, one day prior to an European summit on Russia, EU relations.
Those principles are: Russia observance of International law; rejection of what he calls United States dominance of world affairs in a "unipolar" world; to seek friendly relations with other nations; to defend Russia citizens and business interests abroad; to claim Russia sphere of influence in the world.

For more, see BBC