BUSINESS BRIEFS
Carmakers converge in China
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SHANGHAI — World automakers were launching 13 new models today as they converged on China's commercial capital for the Shanghai Auto show, a key showcase for the only major growing car market.
From upstart BYD Auto to luxury carmakers such as Porsche, automakers everywhere are zeroing in on China's growth as they struggle through hard times elsewhere.
While China's surge to the forefront mainly is a result of deteriorating conditions across the globe, the gravitational center of the world auto market clearly has shifted to China and other emerging markets.
D.C. GETTING 'MOBILE DTV' FOR FREE
Washington will be the first U.S. city to get free digital TV broadcasts for mobile devices such as cell phones, laptop computers and in-car entertainment systems, broadcasters were set to announce today.
Broadcasts using new "mobile DTV" technology are expected to begin in late summer from five stations: local affiliates of CBS, NBC, PBS and Ion and one independent station owned by Fox. The initial broadcasts will be identical to those beamed to TV sets, including the advertising.
Cell phones are main candidates for the technology, but wireless carriers have shown no enthusiasm. Dell Inc., however, will be showing a prototype of a small laptop with a built-in mobile DTV receiver at the National Association of Broadcasters trade show in Las Vegas this week.
SOME BANKS STILL NEED BAILING
WASHINGTON — Some big banks will need more bailout bucks, Obama administration officials said yesterday, although it is unlikely the government might need to take over any reeling institution.
"We're confident that, yes, some are going to have very serious problems, but we feel that the tools are available to address these problems," senior presidential adviser David Axelrod said.
Regulators now are putting the nation's 19 largest banks through tests to determine their ability to withstand worsening economic conditions. The government hopes to make the results public in early May.
