Revised reports of economic growth in the US pegged the GDP at 3.3% in the last fiscal quarter. Though the growth rate is better than expected, analysts say that this could mark the highest point for the economy till at least the next year.

On Thursday, the Commerce Department reported that the US economy grew at the real annual rate of 3.3 % from the period of April through June this year. This was almost the double of 1.9 % expected last month and the fastest growth rate since the third quarter of the previous year.

According to details released by the Commerce Department report, final sales rose by an annualized 4.8 % which was higher than last month’s estimate of 3.9%. However core consumer prices remained unrevised from last month’s expectations and increased by a 2.1% annual rate while inflation across the economy inched higher by 4.2% in the June quarter.

Economic experts attributed the positive revision of GDP to a rise in exports as well as a larger inventory accumulation. To some extent the rise in GDP was also driven by stimulus checks from the federal government which put in an extra amount of cash in consumers’ wallets.

However analysts caution that as far the rest of the year is concerned the GDP appears to have peaked. Predictions for the third quarter growth rate are down to 2% with the trend expected to get worse in the final quarter.

Second quarter earnings of Dell Inc fell 17 percent from the same period last year even as revenues touched $16.43 billion. The company blamed pricing and restructuring costs for the negative impact on its bottom line.

Computer maker Dell Inc released its second quarter fiscal report last Thursday, which revealed earnings of $616 million or 31 cents a share on revenues of $16.43 billion. This was a drop of 17 percent compared to the $14.78 billion it earned in sales which led to a profit of $746 million or 33 cents a share during the same quarter last year.

Company officials admitted that its margins were affected by attempts to build out consumer product lines. Dell had marked out the consumer market at one of its prime areas of growth and had pumped in resources into the US and overseas retail markets. Even though Dell’s global consumer business brought in revenues of $2.8 billion signaling a jump of 28 percent last year, operational losses mounting to $5 million this year hurt the company’s bottom line.

A decline in Dell’s earnings was also attributed to a rise in deferred revenues from overseas markets like Europe, Middle East and Africa. Share prices of Dell tumbled by 10 percent to settle at $22.71 in after-hours trading.

A consumer safety agency in the US has ordered retailers to stop selling a popular brand of bassinet after its use reportedly led to the death of two infants. The order comes in the wake of the agency warning parents and caregivers against the use of the particular brand of bassinet.

On Thursday, the Consumer Product Safety Commission ordered retailers to take off their shelves, the “close sleeper/bedside sleeper” bassinets manufactured by Simplicity and refund customers who have already bought those bassinets.

A day before the Commission had warned parents and caregivers against using the particular model of the bassinet after a six and half month old baby from Shawnee, Kansas was strangled to death as she got caught in the metal bars of the crib. According to estimates of the agency there are around 900,000 such bassinets in circulation.

The bassinets were manufactured by Simplicity of Reading, Pennsylvania which however sold its assets to a firm named SFCA in April The safety agency took recourse to issuing direct orders to retailers after SFCA refused to comply with the agency’s directives and issue a recall.

This will the first time when the Consumer Product Safety Commission will be testing its powers granted under sweeping product-safety laws which have been recently passed. Even though the Commission has been equipped with the authority to mandate recall, it is usually a time-consuming process and so most of the recalls are voluntarily made by firms.

Companies invest large amounts of resources and time in preparing interns to evolve into the desired kind of employee. Here are a few tips on choosing the right intern who would turn out to be an asset for the company.

Look out for reputed colleges and universities that have programs matching your employment needs. Establish a strong working relationship with the management of such educational and training institutions so that when engineering or media students graduate, you are there to take your pick.

Do not skip the usual hiring process when selecting an intern. Written tests, group discussions and personal interviews might reveal talents or flaws not evident at five-minute meetings on a graduation day.

When going through the hiring procedures, distinguish between the candidates who will benefit from the internship and those who will benefit your company.

A good option is to post advertisements for internship in your company at industry-related websites. You may also advertise at sites catering directly to potential interns.

Finally, create the right balance of work responsibilities for your intern. Do not assign them mundane tasks that would prevent them from using their full potential. But at the same time do not overwhelm them with too much work or very difficult jobs as they are not yet experienced workers but are in the internship to learn.

Sen. Barak Obama promised wide-ranging economic reforms in his speech after formally accepting Democrat Party’ nomination for the 2008 US presidential elections.

Standing before an 84,000-strong crowd in a closely packed outdoor football stadium at Denver, Sen. Obama emphasized that he and his running mate Joe Biden were more tuned in to the concerns of average Americans than his Republican rival John McCain. The Democrat presidential nominee has been conducting his election campaign on the need for change in various aspects of American polity like the economy and foreign affairs policies.

Sen. Obama promised to bring about economic reforms by cutting taxes for middle income earners as well as small businesses. He also emphasized the need to explore renewable sources of energy to reduce dependence on foreign fuel. His speech further outlined the need to re-energize the auto industry by revamping assembly lines so that America is able to tap into the demand for fuel-efficient cars which will rule the markets of the future.

Sen. Obama’s speech strongly highlighted his own upbringing in difficult economic conditions. He remembered how at one time his late mother had to resort to “food stamps” in order to support him while his grandmother often went without a new dress or new car so that he could lead a better life.