Forget Samsung, Xiaomi Is China’s New Smartphone King – Aug. 4, 2014

The company, founded just four years ago by Lei Jun, captured 14% of the Chinese market in the second quarter, according to research firm Canalys. That translates to 15 million smartphones, a 240% improvement over the same period last year. “This is a phenomenal achievement for Xiaomi,” said Canalys analyst Jingwen Wang, who praised Xiaomi’s marketing and product lineup. http://money.cnn.com/2014/08/04/technology/xiaomi-china/index.html?section=money_news_international

Construction Spending Decreases in June

The data showed that construction spending was $685.5 billion in June which is 1% lower than Mays data of $692.0 billion but 9.2% higher than this time last year. Private residential construction spending fell 0.3 percent for a month, from $357.0 billion in May to $355.9 billion in June. On a positive note, private residential spending was up for 7.4% when compared to 2013s figure of $331.3 billion. In general, construction spending this June was 5.5% higher than the $900.3 billion spent in June 2013. Total residential construction spending for June was $361.3 billion, which is 0.2% lower than May`s reading of $362.1 billion but still higher than $337.5 billion from June 2013. http://www.prweb.com/releases/2014/08/prweb12072235.htm

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