Italy approves deep cuts in national spending -- Italy's government has agreed to cut spending by 26bn euros (£21bn, $32bn) over the next three years to plug the gap between spending and income. The cuts, approved after seven hours of talks, include a 10% reduction in the number of civil servants and cuts to healthcare. The cuts come as Italy struggles to keep the faith of investors. They are increasingly asking for higher rates of return for lending to the country.
Report: Supply chain mobilizes to make iPad Mini -- Taiwanese suppliers are getting ready to ship components for the iPad Mini in August to meet a manufacturing start of September, according to aTaiwan Economic News report, that cited unnamed wire services as its sources. AU Optronics (AUO), F-TPK, and Taiwan Surface Mounting Technology were all mentioned as likely to see strong third quarter sales as a result of the iPad Mini business. AUO makes LCDs while F-TPK is a touch-screen layer manufacturer. The Apple iPad Mini, with a screen size of 7.85 inch and a resolution of 1024 pixels by 768 pixels is expected to go on sale in September or October at a price of between $249 and $299, the report said. It is expected to ship about 10 million units in 2012.
If you're in Chicago this weekend and feel like watching some rowing...
Check us out! -- I'll be coaching my team, Recovery on Water, at the Chicago Sprints at the Fullerton Lagoon (and racing myself on Sunday!).