Hospital Building Boom Sparks Worry Cities Will Be Left Behind:
Between 2000 and 2005, the hospital industry spent $100 billion to build new facilities and expand existing ones, almost double the amount spent in the previous five-year period, according to figures compiled by the U.S. Census Bureau. In 2005 alone, the spending hit $24 billion, a record. A further $200 billion will be invested over the next decade, according to the Robert Wood Johnson Foundation.

White House Cuts GDP Outlook Amid Slump in Housing Market:
In an updated economic forecast, the administration said it expects inflation-adjusted gross domestic product, to increase 3.1% this year, down from its June forecast of 3.6%. The White House lowered its 2006 estimate for consumer-price-index growth to 2.3% from its June forecast of 3%. They now expect the unemployment rate in 2006 to average 4.6%, down from the previous 4.7%. 

In China, Growth at Whose Cost?
From 2001 to 2003, as China's economy expanded nearly 10% a year, average income for the poorest 10% of the country's households fell 2.5%, according to an analysis by the World Bank that has been presented to the Chinese government. Those roughly 130 million Chinese earn $1 a day or less, the World Bank's global benchmark for poverty.

U.S. Seeks Greater Access To India in Farm Trade:
India's federal government has imported 5.5 million metric tons of wheat in 2006 amid a decline in local output and granary stocks.

India, China Forge Ties, But Old Differences Fester:
Chinese President Hu Jintao met with Indian Prime Minister Manmohan Singh in Delhi yesterday. The two leaders mainly sought to fortify common interests. They have set a two-way trade goal of $40 billion by 2010; in 2005, the total was $17 billion. China and India, both with economies expanding at more than 8% a year, offer attractive markets for other trade partners and each other.

IBM, Sun Set Server-Sales Growth Pace:
IBM, the No. 1 supplier with about a third of total server revenue, expanded sales by 6.6% in the quarter, IDC said, while Gartner Inc. put IBM's server growth at 7.4%. Sun, the No. 4 supplier, posted a 24.7% revenue increase, Gartner said, though IDC put Sun's growth at 15.8%. HP retains the No.2 slot while Dell remains at No.4 in global server shipments.

In a Turnabout, Malls Get a Lift From Wal-Mart: 
In its 44 years, Wal-Mart has expanded to the point that 62.2% of the U.S. population lives within five miles of one of its stores, and 93.6% within 15 miles, according to ACNielsen. The retailer already dominates rural markets, with 45.5% of its stores in rural and semirural markets home to just 29% of the population, ACNielsen data show.

Play Catch-Up:
The stock market rally left many hedge funds in the dust. Through the end of last month, the average long/short equity hedge fund had a 2006 return of 9.2%, according to a hedge-fund index compiled by Credit Suisse and fund-of-funds company Tremont Capital Management. That return compared with total returns of 14.8% for the Dow Jones Industrial Average and 12.1% for the S&P 500.

Google at $500 - Young Stock Joins A Select Group:
Since its IPO, Google shares have risen 500% to hit the $500 mark yesterday and taking the Google market capitalization to $154 billion. It joins six other U.S. companies with a stock price above $500: Berkshire Hathaway, Seaboard, Washington Post, NVR, White Mountains Insurance Group and Chicago Mercantile Exchange Holdings.

Place Your Bets, Please: Takeover Wheel Spins: 
The average premium paid over market prices for shares of companies subject to an acquisition bid this year is 17%, down from 25% in 2000, according to Thomson Financial. More than 40% of the $1.28 trillion of announced U.S. mergers this year has come from private-equity firms or foreign buyers, up from less than 24% last year, Thomson says. Five of the six largest U.S. acquisitions unveiled so far this year were by leveraged-buyout firms.

Threat of Chinese Water Crisis May Benefit Suppliers' Shares:
China is facing a water crisis. Its level of per capita water resources is 25% of the world average, and in Beijing it is 3.3%. Some 136 Chinese cities face severe water shortages. More than 300 million people, almost a quarter of the population, lack access to clean drinking water, because a majority of the biggest waterways are polluted, according to government statistics.

Travel Budgets at U.S. Firms Expected to Rise:
A survey published this week by the National Business Travel Association found that nearly all respondents expect to spend more on air travel in 2007 than in 2006. Of those, 74% expect higher airfares, 65% said employees will take more trips and 45% said a greater number of employees will be traveling.