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In 2007 the European business community missed out on a record amount of EUR 250bn as a consequence of outstanding invoices. Southern Europe heads the league of payment defaulters, while the Nordic countries are the best payers overall.

Despite mounting interest in global expansion from US online retailers, very few currently have global presences. A new report published by JupiterResearch, "Global Online Retail: Navigating Successful International Expansion," indicates that the majority of top US retailers do not have a substantial international online presence.

There are four numbers in the latest domestic economic news: 135 - 0.4 - 0.1 - we don't yet know the fourth number.

The Conference Board Consumer Confidence Index, which had declined in April, continued its downward trend in May. The Index now stands at 57.2 (1985=100), down from 62.8 in April. The Present Situation Index decreased to 74.4 from 81.9. The Expectations Index declined to 45.7 from 50.0 in April.

Small business owner optimism continues on a five-quarter decline, according to the recent Wells Fargo/Gallup Small Business Index (Index) survey conducted in April. The Index score dropped to 48, the lowest level reported since the survey's inception in August 2003, when the score was 69.

Increasing demand for Internet based services means that there would not be enough addresses to support this expected growth, if no action is taken. Encouraging internet users and providers to adopt the latest Internet Protocol (IP version 6 or IPv6) will provide a massive increase in address space, much in the same way as telephone numbers were lengthened in the 20th century. The European Commission set Europe a target of getting 25% of EU industry, public authorities and households to use IPv6 by 2010, calling for concerted action at European level to get all actors prepared for a timely, efficient change to avoid extra costs for consumers and give innovative European companies a competitive advantage.

Fitch Ratings warns of the risks to emerging market (EM) sovereign creditworthiness from rising inflation and has developed a ranking of Fitch-rated EMs according to their vulnerability to inflation shocks.

In the Communication "Better careers and more mobility: a European Partnership for Researchers ", the European Commission seeks a partnership with Member States to ensure that the necessary human resources are available to sustain and enhance the contribution of science and technology to a knowledge-based European economy.

Small business owners halted a steady decline in their economic confidence in May as the number of those with cash flow issues decreased to its lowest total in six months. The Discover® Small Business WatchSM rose more than five and a half points in May to 81.8, up from 76.1 in April.

In terms of sheer numbers of users, 2008 marks the year that China overtakes the US as the largest Internet market in the world.