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May wasn't the best month for big retailers, but it wasn't the worst. That was April, which literally was the worst retail month ever. We got the numbers for May this morning, and they're mixed. Wal-Mart had pretty disappointing numbers while Costco and Nordstrom did better than expected. The bottom line is people are still spending, but they're being kinda careful with their money.

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It's a Bollyworld after all

Disney wants to break into the Indian entertainment market. The company is expected today to announce that it has commissioned one of India's oldest film studios to turn the musical magic of Bollywood movies into lucrative full-length cartoons.

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Tough critics in China

The third "Pirates of the Caribbean" movie has passed the $500 million mark at the world box office and it just opened in China last Tuesday, taking in more than a million dollars on opening day alone. The Chinese version is a little shorter than the original though. Censors there didn't think the Chinese pirate in the movie was funny -- so they cut a few of his scenes.

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No change to spare

The Indian city of Calcutta is having a coin shortage. No one knows why but it's causing quite a stir. Shopkeepers are begging beggars to give them change, and entrepreneurial types are standing in long lines to turn in paper money for coins — then turning around and selling the coins for more than they're worth. India's reserve bank issued a million rupees yesterday, but not much has... changed.

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We're No. 2!

The United States is No. 1 in a lot of categories, but there's one less thing this morning. China is now the world's top emitter of carbon dioxide. That's according to a report from the Dutch government. And we can probably expect China to increase its lead heading forward. Recently the Chinese government said it's too early to talk of caps since economic development is its top priority.

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China's trouble on wheels

First, it was poisoned pet food, then lead-painted toys. Now, tires that won't stay together. About 450,000 Chinese-made tires sold through a U.S. distributor under the names Westlake, Telluride Compass and YKS are being recalled because there's a problem with the gum strip — a handy safety feature that helps keep the tread together.

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China's new take on drink-n-dial

Mobile phone company China Unicom is offering new customers a 12-pack of beer for signing up for service. Not to be outdone, its rival, China Mobile, has decided to give away a whole case of beer. The free ale giveaways were borne in lieu of a price war, so the companies can bypass government controls on phone tariffs.

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Ready, set... build a better city

The race is on to create the first fully-sustainable city.

China's planning to take a deserted island the size of Manhattan and turn it into an eco-city for about half a million people. No conventional cars will be allowed and the city will capture and purify water. It'll be just an hour ferry ride from Shanghai, so how they're going to stop mainland pollution from drifting over we're not sure...

Meanwhile in Abu Dhabi, they want to build a smaller, walled city that's being called the world's first zero-carbon, zero-waste city.

Any other takers?

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Contaminated in China

Made in China has never sounded so ominous. Yesterday, Mattel announced a second recall of nearly 20 million Chinese-made toys, many with magnets inside and some with too much lead paint. It turns out China may have known about the magnet issue as far back as March. Someone with the China Toy Association confirmed today that the group has known about the potential dangers for several months, but she didn't explain why it took so long to do something about it. Mattel says with further testing, more recalls could be on the way.

And today there's a new kid staple to add to the list: baby bibs. The New York Times reports some brands of vinyl bibs sold at Toys"R"Us appear to be contaminated with lead. The Consumer Product Safety Commission says their own tests of baby bibs found any lead present was low enough that it wouldn't harm a kid chewing on or rubbing the vinyl. There is a potential risk of lead exposure if babies swallow pieces of cracked vinyl used on the bibs, but the agency hasn't pushed for a recall.

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Singapore is easy business

If you want a good experience doing business, one option is heading to the tip of the Malay Peninsula. Singapore gets the top spot in the World Bank's ranking of the easiest places to do business. The country nabs the title for the second year in a row thanks to its efficient procedures that don't require a lot of government interaction. For example, you can fill out many forms online. New Zealand and the United States round out the top three in the World Bank report released today.

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How do you say 'You're fired' in Malay?

The reality TV impresario Mark Burnett may soon be producing an Asian version of "The Apprentice." Burnett has formed a 50-50 joint venture with a gaming group in Singapore to produce game shows and reality TV in Asia. The partners plan to invest $20 million in the firm as part of a 10-year exclusive deal that covers all of Asia except Japan.

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Singapore: Your Airbus has arrived

European planemaker Airbus turns over the keys of its long-awaited A380 jumbo jet today. Singapore Airlines is the first airliner to collect the jet -- 18 months behind schedule. Delays cost Airbus $8.5 billion. The company now says it is on track to to deliver 13 aircraft next year. Singapore Airlines says the plane will begin flights to Sydney later this month. The first A380 will have space for nearly 500 passengers and include 12 luxury suits for first class travelers.

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Sometimes, you just gotta go . . .

Looking for a new accessory for your car? How about a toilet? A Japanese company just unveiled one. I mean, a car toilet. "Very handy during major disasters such as earthquakes or when you are caught in a traffic jam." That's what the company says. Not sure about earthquakes but… I can see how someone might get desperate in a traffic jam. The product is basically a cardboard toilet bowl, with a water-absorbent sheet inside. And a curtain. You can also take it with you if you wish, the thing fits inside a suitcase.

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A phone tower that reaches the Gods

China state media reported Wednesday that the nation had successfully tested a mobile phone station atop Mt. Everest ahead of Olympics. It was "incredibly difficult" to build as oxygen levels at the site were only 38 percent of those at sea level, the carrier's general manager Wang Jianzhou was quoted by Xinhua as saying. State media says the station at 21,450 feet was built to help climbers as well as facilitate communications for the bearers of the Olympic torch, which Beijing 2008 Games organizers plan to carry to Everest's summit. The station, the world's highest cell phone base, is run by China Mobile, the country's largest mobile phone service provider. The station's key equipment was immediately packed away after the test for the harsh Tibetan winter and will be reassembled in time for the torch visit expected in May next year, Xinhua news agency reported.

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Subprime says hello from Japan

In case you had any doubts of how the subprime crisis in the U.S. is affecting other countries, here's what Japan's financial regulator said today: Japan's large banks had about $11 billion invested in products related to the U.S. subprime mortgage market as of the end of September.

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A more flexible Yuan

At a summit with European leaders today, China's Premier says the country will keep improving its exchange rate regime by letting market forces play a greater role. E.U. officials are dismayed by the yuan's steady slide against the euro, which they say is exacerbating global imbalances and fuelling protectionism in Europe.

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Can Jackie Chan's magnetism stop piracy?

Here's the latest message from movie makers to the people of China: If you buy legal DVD's instead of pirated ones, we'll give you a refrigerator magnet. The Motion Picture Association plans to distribute hundreds of thousands of magnets bearing a message from actor Jackie Chan.
It says, "Thank you for Purchasing Legitimate DVD's. Your action determines the future of the film industry." Chan says he hopes the magnets will encourage people to tell their children that piracy is wrong.

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Shanghai Disneyland may come soon

Mickey, Minnie, and Goofy could soon have yet another home. Shanghai is hoping for mainland China's first Disneyland. Reports say the city is waiting for approval of the project by the central government. Walt Disney Company happens to have a sleek new Shanghai office complex.
But company reps have repeatedly said for now the focus has been developing its theme park in Hong Kong which opened a couple years ago. A Shanghai Disneyland could come in time for the city to host the World Expo in 2010.

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China wants U.S. movies screened

Hollywood big-wigs and government officials think China is plotting against American movies. The New York Times reports there's suspicion that U.S. films aren't getting permission anymore to be shown in Chinese theaters. No formal ban has been announced by the Chinese government, but there's speculation the action could be in retaliation to an intellectual property rights case.

The U.S. filed with the World Trade Organization last year to put pressure on China when it comes to pirating U.S. movies, and to give U.S. companies more access to China's markets.

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To help food price inflation, China sells at home

Sell more at home. That's China's message to its food producers. The country's finance ministry says China will levy taxes next year on basic products like wheat, soybeans, corn, and rice. The tax, ranging from 5 percent to 25 percent, is the latest move by the government to help rein in food price inflation. It was at a rate of more than 18 percent last month.

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iWon't-be-in-China

Plans to launch the iPhone in China have been disconnected. Apple and China Mobile have called off talks to launch the popular product. Some experts say the iPhone faced a lot of technical and fee issues unique to China, including a standard revenue-sharing agreement China Mobile didn't like too much. Chatter about getting the iPhone into China helped pushed Apple's stock up more than 10 percent in November.

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McDonald's Japan profits are . . . meatier

Japan's having a Mega Mac attack. McDonald's Japan posted a five-fold increase in annual net profit today. Among the reasons for the surge: the popularity of Mega Macs, four meat patties layered between three slices of bun with cheese and lettuce. That and new breakfast menus helped McDonald's ride out its disclosure in November that it sold salads past their expiration dates at some Tokyo restaurants. And there's still hunger for more: The company predicted further growth as it plans to open 130 new stores and promote its coffee more.

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Prius could help drive Japan's joblessness down

Japan's inflation rate jumped 1 percent last month, the quickest rise in 10 years. High prices for imported oil is blamed partly to blame for the increase. Other date released today shows the country's jobless rate climbing to almost 3.9 percent. Unemployment has been hovering around 4 percent in Japan since last Fall.

But Toyota Motors may help draw down the jobless rate a bit. The company is planning to boost production of the popular Prius hybrid at it's Japanese plants. Today's Nikkei business daily reports Toyota hopes to increase output to 450,000 cars a year by 2009. Last year, the auto maker built about 280,000 Prius cars.

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Papa John's going to China

If you're in Beijing for the Olympics, here's one thing you won't have to give up:
Papa John's pizza. The chain is adding 500 restaurants in China (40 or 50 will open this year). That would make it the biggest market outside the U.S. There are already about 100 Papa John's in China. The company is trying to tap a growing market of affluent consumers in China.

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Samsung chef indicted on tax evasion charges

The name Lee Kun-hee might not sound familiar to you. But in South Korea they sure know him. He is the head of Samsung, one of the largest multinationals in the world. And he is now being indicted by South Korean authorities on charges of tax evasion and breach of trust.

Ten other Samsung executives were also charged. But the guy is so powerful that prosecutors said they would not arrest him yet, because of the "negative repercussions" that could have on the countries economy.

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China cracks down on fake goods

China's got a piracy problem on its hands. It's the world's biggest source of illegally copied goods. But with the Olympics coming up -- the country doesn't want fakes to flood the market. So, the country announced today that it is taking special care to prevent piracy. In fact, the government says, it already has started.

Last year, China convicted more than 4,000 people of product piracy. It seized six million pirated items, such as movies or software discs, and shut down 13,000 piracy-oriented businesses. It's as if to say: Don't worry. Send us your Nike swooshes and Adidas stripes. They're safe with us. Wink, wink.

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Chinese want their SUVs

Some have said that the U.S. might be becoming a small cart nation. That should help with the price of gas. Except for... on the other side of the world, China is becoming a big car nation.

On Sunday, at the Beijing Auto Show opening, auto executives said that demand for SUVs and full-size luxury cars is growing fast in China. Don't they care about gas prices? So far, they don't have to. The Chinese government keeps price controls on gas and diesel to limit inflation. The government is pushing car companies to make more fuel-efficient cars.

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Indicted Samsung Group chief stepping down

The chairman of South Korea's biggest conglomerate says he is resigning. Samsung Group chief Lee Kun-hee is stepping down less than a week after his indictment on tax evasion charges.

A team of special prosecutors say Lee evaded about $113 million in taxes. The charges followed a three-month investigation into the conglomerate's finances.

Samsung Group's biggest company is Samsung Electronics, which makes computer chips, flat screen TVs and mobile phones.

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Air China flying high

The U.S. airline industry might be flying on a wing and a financial prayer, but not so in China. AIR China is reporting an almost 150 percent increase in profits for the first quarter. The airline is carrying more passengers thanks to China's economic boom. The rising value of the yuan against the dollar is helping, too. That's because Air China pays for fuel in dollars. Profits might rise further as the company expects to get another boost from visitors flying in for the Beijing Olympics.

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It raised a red flag

They say China is the factory of the world. And that includes making flags. But free Tibet flags? That's too much for even the Chinese to handle. A factory in southern China had been making flags of the Tibetan government in exile. Of course, everyone claims they didn't know what the flags meant. In fact, workers of the factory were the ones who alerted the authorities after seeing the flag on TV -- in the hands of protesters.

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Word of a possible rice cartel

If the world didn't have enough with an oil cartel, now there is talk about a rice cartel. The prime minister of Thailand said Wednesday that his government is going to try to get together with Vietnam, Cambodia, Myanmar and Laos to coordinate when trading rice.
The is just an idea for the moment. But, if it became a reality, it would have the potential of maintaining rice prices up there at record highs. Needless to say, big importing countries such as the Philippines are not very happy about this.

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Poisoned dumplings

It's not only Americans that have been concerned about the quality of Chinese products. In Japan, food imports from China dropped 30 percent in February after a scare over Chinese made dumplings. Some of them turned out to be poisoned with banned insecticide. And it certainly doesn't help that Chinese authorities came out saying they were an isolated, deliberate case. Japan is the third largest market for Chinese exporters of fish and dumplings.

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