It looks like the world economy is beginning to arrest the slide caused by the recession — the worst slump the world economy has experienced in more than 60 years. And proof of it is in the increase in the demand of products. Shipping companies are experiencing profits that, frankly, not as bad as they had hoped. Funny though that at this point, most forecasts are still on recording losses and if a loss is not that bad then it is considered good news. It’s a concept that can be a bit hard to wrap your head around because we’ve been used to a robust economy.

Hopefully, we learn lessons from this recession and start becoming more aware of how everything is related economically. I know I’ll be more conscious about how I spend my money in the future. No more nights out everyday. Every other night will do, I guess.

European confidence in the economic outlook increased twice as much as economists forecast in August, a European Commission report showed today. The U.S. economy, the world’s biggest oil user, shrank less than expected in the second quarter, and France and Germany returned to growth in the same period.

The Prosecco — that fizzy, champagne-like wine is growing more and more successful each year. Italians consider it the perfect aperitivo for summer and other countries are following suit with their own prosecco vintages.

Recently, the Italians have decided to protect the prosecco variant by upgrading it into the country’s A-list wine classification, DOCG. The new designation now protects the name Prosecco, the grape variant and new regulations imposed on its production.

One reason that both businessmen and wine experts cite when talking about prosecco’s increased popularity is, surprisingly, Paris Hilton. A few years ago, Paris endorsed the Rich Prosecco brand, which came in gold plated cans. Her endorsement brought prosecco to the public consciousness and, in effect, different manufacturers started releasing their own versions even if these were not produced in the region in Italy where the original variant was grown. This was now the impetus Italian growers needed to push for the new classification.

So in effect, Italian winemakers were actually helped by Paris Hilton! And I always thought Paris won’t contribute to anything much.

Predictably, when people want to save up the first things to go are items of luxury. Because of the recession that’s happening practically worldwide, luxury has become dispensable.

And even the top hotel chains think so too.

The top hoteliers are being hit tremendously by the recession and are taking drastic measures. The newest tactic they have thought of is giving up some of the stars on their top hotels as a way of saving money.

Starwood Hotels & Resorts Worldwide, Inc., who owns the St. Regis and W hotels, reduce the level of service in some of its properties, and consequently the number of its stars. Starwood said it will eventually return to its more luxurious operations when the economy has bounced back. Already, other hotel groups — the Hilton Group and the InterContinental Group — have already downgraded some of its properties.

So what does this downgrade mean? It would mean not getting a welcome gift, no more flowers in the rooms, and nomorecom

Luxury-hotel operators have struggled to attract customers as the recession deters vacationers and forces companies to slash their travel budgets. That should mean lower rates for high-end business and vacation travelers. It may also mean the loss of some amenities, such as welcome gifts, flowers in your room, complimentary newspapers or 24-hour room service.

Hopefully, the car industry does not take a cue from this and start removing airbags to save money.

The recession is really taking a toll on everyone — even beer drinkers.

Because of the belt tightening measures almost all American households are implementing, everything is being cut down, even beer. There is a growing trend of beer drinkers now choosing cheaper priced brews when they buy them in supermarkets and stores. And this is a trend that the premium beer manufacturers are not happy about.

So what can you do? Well, if you’re Grupo Modelo SAB, the largest brewery in Mexico, you have to revisit some of your strategies. The company’s exports of its beers, including its top selling Corona, has declined by 5.3 percent in the first half of this year.

Modelo hsa said that it will be focusing on marketing to entice consumers to buy its beer. The obvious strategy of cutting prices to increase sales is not being entertained by the company because it will face higher input costs. One of its strategies is to even revive a popular ad it had in the 90’s as a way of stretching its marketing budget.

I don’t know about this strategy. Will beer drinkers buy expensive beer if they see an ad that’s more than ten years old? You have to be really drunk to get sold on that.

I was watching the news today and thoroughly enjoying myself. What stuck with me though was the report given by the business correspondent regarding the performance of the stock market this week. According to the correspondent, trading in the last few days has been moving consistently sideways with nary an action because, as she pointed out, the fund managers and brokers in Europe are on vacation during the month of August. She said that bigger movements are usually expected during the fourth quarter.

I just find this amusing. With the world suffering from a global recession and with stock owners sweating buckets because of the uncertainty of these times, these brokers can still find the time to frolic in Europe’s hot vacation spots. Ibiza and St. Tropez, anyone? How they can actually relax with the financial fate of a lot of people lying in their hands I’ll never know. But I’m guessing copious amounts of alcohol may be involved.