All Things Wise and Wonderful

Gasoline prices are expected to rise this summer, but reports say that the price rise will be only marginal and will not reach record levels. The marginal increase is attributed to the economic slowdown.The US Energy Information Administration predicts that gasoline prices may be about $2.23 a gallon this summer. The relatively small increase in gasoline prices is good news for American households battered by recession.

The UBS, a bank of banks in Switzerland is now cutting down jobs in its organisation. It is afraid that about 8000 are about to lose their jobs whereas 7000 have already lost their jobs in the middle of 2007. Also IBM, a US based technology services has plans to cut out 5000 employees and has decided to shift some jobs to low cost counties.