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The holiday buying season is likely to generate a wave of phishing attacks in January 2008, according to seasonal data collected by SonicWALL, Inc.

The World Economic Forum released its latest report, Global Risks 2008. The report highlights the need for new thinking and concerted action in a number of problem areas. It expresses fears that the current liquidity crunch will spark a US recession in the next 12 months and calls for new thinking on systemic financial risk in response to the revolution in financial markets over the last two decades. The report recommends a set of principles for country risk management and examines how the financial sector might take on an increasingly important role in risk transfer in the future.

Though hampered by overcapacity issues and an uncertain global economy, automotive executives are growing more confident about the nearer term prospects of global profitability and an increasing number are foreseeing a quicker turnaround by Detroit manufacturers, according to an annual global automotive survey by KPMG LLP, the U.S. audit, tax and advisory firm.

Automotive industry executives have identified finding alternative fuel sources as the number one trend facing the industry and are focused on producing low cost cars and hybrids to meet consumer demand, according to an annual global survey by KPMG LLP, the U.S. audit, tax and advisory firm.

Merger and acquisition activity in 2007 reached record levels in a number of financial services sectors, Freeman & Co. LLC, a leading independent advisor to the financial services industry, announced.

Leading independent research and advisory firm, Manufacturing Insights, an IDC company, announced the release of its annual Top 10 Predictions report, Worldwide Manufacturing 2008 Top 10 Predictions, which examines macro industry trends, specific key process domains, and emerging business/technology initiatives for manufacturers in 2008. According to this new study, research shows larger manufacturing firms are deriving more than 60% of their profits from outside their home region. This revenue balance will help the industry offset any detrimental effects of an economic slowdown or potential recession within the U.S. market.

Socially responsible outsourcing, global competition for talented employees and a power shift among outsourcing players will be among the key trends in the coming year, predicts the International Association of Outsourcing Professionals (IAOP).

The European Banking Federation published its latest Report on Bank Robberies. Based on the contributions submitted by national banking associations, the Report analyses the situation in European countries and other industrialised States, such as Canada or Japan. The Report aims to detect the general tendencies in the field of bank security, as well as the new developments and the measures for counteracting.

GE Capital has agreed to purchase most of Chicago-based Merrill Lynch Capital, Merrill Lynch and Co., Inc.’s wholly-owned middle-market commercial finance business. Financial terms were not disclosed.

The Organisation for Economic Co-operation and Development (OECD) and the World Bank have agreed to step up their co-operation in a number of key areas, including efforts to promote sustainable and inclusive growth in emerging economies, the economics of climate change, aid for trade, innovation and the design of comprehensive country frameworks for investment.