"It looks to me now as if the markets are now pricing in a rapid recovery, that they're pricing in a V-shaped recession, which I consider extremely unlikely," said Krugman at a forum in Shanghai on May 12.

Verizon Communications has agreed to spin off parts of its business that deliver phone service to mostly rural areas in 14 states in an US$8.6 billion deal with Frontier Communications.

The US Consumer Product Safety Commission has announced a recall of 70,000 lithium-ion batteries used in Hewlett-Packard and Compaq notebook. Apparently, there have been two reported cases where the batteries caught on fire.

Sanyo Electric, the rechargeable-battery maker being acquired by Panasonic, forecast an increase in annual operating profit, beating analyst estimates.

Sony on Thursday announced its first annual loss in 14 years and warned it would stay in the red this year as the global economic downturn inflicts heavy damage on Japan's high-tech giants.

China's industrial output has slowed, according to the latest figures from the country's statistical bureau.

Synaptics has posted solid year-over-year sales and earnings growth despite the tough economy thanks to its involvement in two hot product categories, notebook computers and smartphones.

Retailers logged a second straight month of sales declines in April as consumers continued to pull back on all types of unessential purchases, the government reported Wednesday.

As more banks raise money to repay bailout loans, that means big fees for Goldman Sachs, JPMorgan Chase and Morgan Stanley.

Berlin-based Solon has announced its first quarter of 2009 ended March 31, 2009 fell short of expectations. The long and harsh winter in southern Germany had a negative impact on demand for solar energy systems, as did the continuing lack of sufficient funding for larger photovolatics projects.

Suntech Power and Schott Solar announce plans for new US production plants as demand for panels continues to climb.

Applied Materials executives said customer confidence is improving, but cautioned that the company is seeing "a very dynamic environment" in all of its major segments. China's stimulus plans may continue to support cellphone and PC consumption there, said CEO Mike Splinter following release of fiscal Q2 financial results.

Electronic manufacturers, including Toshiba and Hitachi, are planning to consolidate flat-panel television factories outside Japan and expand outsourcing to cut costs, the Nikkei business daily reported.