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Telecommunications equipment industry

Automotive and Technology Giants Unite, Regulatory Agency Okays New Domain Suffixes

Strategic Insights

— 1 min read

General Motors Corp. and DaimlerChrysler AG have joined forces to develop fuel-saving hybrid engines, marking a significant collaboration in the automotive industry. Meanwhile, the Internet Corporation for Assigned Names and Number gave a preliminary nod to two new domain names, ".mobi" and ".jobs," which will cater to mobile device users and the human resources community, respectively. In other news, the Treasury Department reported a decline in interest rates for short-term bills, while statesman.com has appointed a new general manager.

Key Takeaways:

  • General Motors Corp. and DaimlerChrysler AG are teaming up to develop fuel-saving hybrid engines, with an investment likely to be in the hundreds of millions of dollars.
  • The collaboration aims to increase the market share of hybrid engines, which could eventually account for 5-15% of global auto sales.
  • Motorola Inc.'s shares surged 5% to $17.13 after the company announced its intention to realign its businesses into four groups.
  • The Internet Corporation for Assigned Names and Number approved two new domain names: ".mobi" for mobile device users and ".jobs" for the human resources community.
  • The Treasury Department reported a decline in interest rates for short-term bills, with the 3-month bill discount rate dropping to 2.2% from 2.21% last week.
  • The Federal Reserve said the average yield for one-year constant maturity Treasury bills fell to 2.6% last week from 2.62% the previous week.
  • statesman.com has appointed Jim Debth as its new general manager, following Larry Sanders' departure to Coxnet.

Statistics:

  • $19 billion: The amount of 3-month bills sold by the Treasury Department at a discount rate of 2.2%.
  • 2.21%: The average discount rate for 3-month bills last week.
  • $17 billion: The amount of 6-month bills sold by the Treasury Department at a rate of 2.425%.
  • 2.38%: The average rate for 6-month bills last week.
  • 2.62%: The average yield for one-year constant maturity Treasury bills last week.
  • 2.6%: The average yield for one-year constant maturity Treasury bills last week, after a decline of 0.02%.

Sources:

  • "GENERAL MOTORS, DAIMLERCHRYSLER TEAM UP ON HYBRIDS" by Automotive News
  • "MOTORTOLA SHARES BOUNCE BACK" by Reuters
  • "INTErnET Regulatory Agency OKs new Domain Suffixes" by Associated Press
  • "SECURITIES INTEREST RATES DECLINE ON SHORT-TERM BILLS" by Bloomberg
  • "ONLINE NEWSPAPERS STATESMAN.COM NAMES NEW GENERAL MANAGER" by Austin American-Statesman

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