For other uses of this term, see Industry (disambiguation)

An industry is generally any grouping of businesses that share a common method of generating profits, such as the "music industry", the "automobile industry", or the "cattle industry". It is also used specifically to refer to an area of economic production focused on manufacturing which involves large amounts of capital investment before any profit can be realized, also called "heavy industry.". As-of 2004, Financial services is the largest industry (or category of industries) in the world in terms of earnings.

Industry in the second sense became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the development of steam engines, power looms, and advances in large scale steel and coal production. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily integrating previously impossibly-distant world markets, enabling private companies to develop to then-unheard of size and wealth. Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share, but now less than that of the service sector.

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Portfolio.com: News and Markets

Seoul Salvation
Thu, 04 Sep 2008 16:00:00 -0000
Korea is home of the Hyundai and the Kia. It hopes to put a robot in each of its households by 2020. It boasts the world's first cloned dog. So what does it want with our ailing assets on Wall Street? A number of Korean entities have grabbed headlines in recent weeks as leaders at banks such as Lehman Brothers and Merrill Lynch travel the globe on a desperate hunt for cash. Korea Development Bank, which was founded after the Korean War ended in 1954, has expressed interest in buying all or a part of Lehman Brothers. According to the Financial Times, the country's military pension fund has said it would be interested in joining K.D.B. in a Lehman investment. A state-run distressed investment manager called Korea Asset Management is in talks with Merrill Lynch about taking some of its most troubled loans off its books, according to Bloomberg. So far, the two haven't been able to agree on pricing. Korea Investment Corporation, the country's sovereign wealth fund, owns a 7.4 percent stake in Merrill Lynch, going back for more in July after investing initially in January.What does Korea see that the rest of the world doesn't? Perhaps Korea Asset Management's Lee Chol Hwi put it best in an interview with Bloomberg: "The U.S. market desperately needs capital. It's practically a buyer's market there."That's right, folks. We're desperate. And Asian investors, who were the desperate ones just 10 years ago, are now regarded as our saviors. Since the 1997 Asian financial crisis, Korea has cleaned itself up economically. It instituted government reforms and dismantled some of its corrupted conglomerates. Its economy has enjoyed robust growth in recent years, and its per capita G.D.P. is expected to surpass that of the United Kingdom, Germany, and France just five years after Korea hopes to have a robot in each household. So Korea has clout—and money. But, so far, its interest in Lehman Brothers appears to be limited to a bit of hot air. The Korea Development Bank remains at the mercy of the country's financial regulators, who have expressed skepticism about a deal. Moreover, the bank isn't doing so well itself: Its net profit fell by half during the first half of this year, prompting the Korea Times to call it "old and reckless." K.D.B.'s chief executive said the bank was considering forming a consortium of local commercial banks to buy Lehman, but the Korea Herald reports that local banks dismissed the idea. Even the Korean military pension fund, which indicated interest, has said that K.D.B. hasn't approached it about the deal. As for Merrill, Bloomberg reports that Korea Asset Management and Merrill Lynch don't agree on the value of the bank's assets. Considering that Merrill just sold a bunch of loans to Lone Star Funds for the paltry price of 22 cents on the dollar, what kind of bargaining is Korea doing in these negotiations? It appears that either Lehman's and Merrill's desperation hasn't hit levels low enough for Korea. Maybe Korea's real interest in buying Lehman amounts to little more than a tease.As the weeks and months of this credit crisis unfold, Wall Street's desperation could intensify. But Seoul isn't likely to overtake New York anytime soon.  Related LinksSpecial Situation: Lehman Subprime Unit ShutdownAwaiting Citi's Big NumberMark-to-Model on Wall Street: The Numbers

Wired: Tech Biz

File Sharing Is Hard Habit to Break
Betsy Schiffman Wed, 03 Sep 2008 18:43:00 -0000
Roughly one million people downloaded the season premiere of "Prison Break" from file sharing sites when they could have watched the show legally on either Fox or Hulu sites. The problem is threefold, say analysts: Piracy is habitual, cultural and convenient.
IPhone Users Report Network Outages; Second 3G Lawsuit Emerges
Brian X Chen Wed, 03 Sep 2008 15:53:00 -0000
While Apple's iPhone sales continue to succeed, things just aren't looking any better for AT&T's network woes, and their dysfunctional relationship has given birth to a second lawsuit. Several iPhone users report a complete outage of AT&T's data service. Reports have surfaced in Boston, Chicago, Washington DC and St. Louis; users have claimed in the Apple support forums that a call to AT&T's support line confirms the outage.
Another Nail in the NebuAd Coffin: CEO Steps Down
Meghan Keane Wed, 03 Sep 2008 12:16:00 -0000
Congressional scrutiny in behavioral targeting has yet to claim any victims with regulation, but the bad publicity alone is already causing casualties. Web tracker NebuAd has been bleeding clients since the inquiry began. And now now their CEO, Robert Dykes, has jumped ship to join electronic payment firm Verifone.

ABC News: Money

Political Fundraising: Clooney vs. Brimley
Thu, 04 Sep 2008 13:02:32 -0400
McCain and Obama roll out the stars as they fight it out for the presidency.
Dallas Fed President Sees 'Anemic' Growth
Thu, 04 Sep 2008 11:54:04 -0400
Richard Fisher says inflation is too big a risk to ignore.
He Says, She Says: Who's the Better Boss?
Thu, 04 Sep 2008 13:07:54 -0400
A new survey shows women scoring better than men in leadership traits.

Mondaq.Com - feed of articles

United Kingdom: Statutory Dismissal Procedure Examined - BPE Solicitors
Thu, 04 Sep 2008 14:12:24 -0000
Unreasonable delay has been examined in the Court of Appeal in terms of whether or not this creates a failure in the Statutory Dismissal Procedure.
United Kingdom: Sustainable Construction What's Your Strategy? - BPE Solicitors
Thu, 04 Sep 2008 14:10:55 -0000
Green issues are considered more, not less important, in times of economic stress. That is the announcement coming from shadow ministers this week.
United Kingdom: Fuelling Responsibility - Corporate Social Responsibility Concerns In Biofuel Financing - Eversheds
Thu, 04 Sep 2008 12:53:31 -0000
The list of biofuel’s detractors is now as long as the list of its former advocates. Before countries have had time to implement current government proposals to increase biofuels usage, pressure is growing to abandon the idea because of fears over their impact on global food supply.

BBC News | Business | World Edition

Economy worries hit world markets
Thu, 04 Sep 2008 17:07:26 -0000
European and US shares fall on more fears over the state of the economy and the prospect of slower Eurozone growth.
BP moves to settle Russia dispute
Thu, 04 Sep 2008 10:21:40 -0000
BP signs an agreement with its Russian partner aimed at solving a festering dispute at joint venture TNK-BP.
Slowdown 'to hit poor countries'
Thu, 04 Sep 2008 17:00:25 -0000
The global slowdown will take its toll on growth in developing countries, the UN agency Unctad says.

CBC | Money News

New cellphone carrier launching in 2nd half of 2009
Thu, 04 Sep 2008 12:32:30 -0400
More cellphone competition is on the way as Globalive Communications Inc. is aiming to have Canada's fourth national wireless service up and running in the second half of 2009.
Borealis launches $2B bid for Teranet
Thu, 04 Sep 2008 11:42:42 -0400
Borealis Infrastructure Management Inc. launched a $2-billion takeover bid for Teranet Income Fund on Thursday, the fourth time the infrastructure heavyweight has taken a run at Teranet.
MDS reports $10M loss, cuts profit outlook
Thu, 04 Sep 2008 09:33:20 -0400
MDS Inc. cut its revenue and profit guidance for the year as the company said it lost $10 million in the third quarter.
Sony recalls 440,000 Vaio laptops for overheating danger
Thu, 04 Sep 2008 08:28:43 -0400
Tokyo-based Sony Corp. on Thursday said it is recalling about 440,000 Vaio laptop computers worldwide to fix a faulty wiring problem that could cause the products to overheat.
Brick Brewing not for sale: CEO
Thu, 04 Sep 2008 10:48:21 -0400
Brick Brewing Co. Ltd. is not for sale, says company president and chief executive officer George Croft.
N.L. papermill to cut 171 jobs, minister says
Thu, 04 Sep 2008 09:19:17 -0400
A struggling paper mill in central Newfoundland wants to cut 171 jobs, more than one-third of its unionized workforce, according to the province's natural resources minister.

Forbes.com: E-Business News

A Snappy Way To Make Money In Stock
Taylor Buley Mon, 01 Sep 2008 05:32:12 -0000
How to make money in the stock market: Invest in a great camera.
Microsoft Vs. Google, Again
Victoria Barret Wed, 27 Aug 2008 15:31:15 -0000
Chief executive Steve Ballmer's latest attempt at toppling Google is subtle and crafty.
Xbox Vs. Firefox
Chris Morris Mon, 25 Aug 2008 10:00:00 -0000
Browser-based gaming starts to offer real action.

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