Signs that a giant fiscal stimulus is starting to work in China. However, China still needs to find a new engine for future growth. Reforms to improve health care and the social safety net will take many years to encourage people to save less.

As tech giants IBM, Yahoo, Apple and Microsoft report earnings this week, analysts say they expect headwinds and will look for how the companies plan to grow when the economy recovers.

UK government funding is needed as the credit crunch threatens a generation of small high-tech companies, a business investment group has warned. The National Endowment for Science, Technology and the Arts said the UK could lose its global standing in areas such as healthcare and biotechnology.

TSMC's board of directors recently approved four candidates for Independent Director, including three current directors Peter Leahy Bonfield, Stan Shih and Carly Fiorina, as well as former Texas Instruments (TI) chairman Thomas J. Engibous. These four candidates for Independent Director will stand for election at TSMC's Annual General Meeting on June 10, 2009.