U.S. jobless rate down to 9.7 percent
The U.S. economy lost 20,000 jobs in January, but the unemployment rate fell to 9.7%, according to a government report released Friday.
Trade issues are likely to be a major discussion topic between the two leaders; the United States imports billions of dollars in Chinese products each year.
President Obama revealed a $3.8 trillion budget for 2011 on Monday that tries to balance two competing goals: continued government spending to boost the fragile economic recovery and controlling the nation's deficit.
While economists fret whether the sharp "V"-shaped drop of the financial crisis will turn into a double-dipped "W" recovery, Tan Pheng Hock is most worried about the "P" word: Protectionism.
American International Group Inc., majority owned by the U.S. government after a massive bailout, is reported to be close to a $35.5 billion deal to sell its Asian life insurance operations to Britain's Prudential PLC.
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The maker of full-body scanners urges the European Commission to rule on whether the controversial devices should be introduced permanently at all 700 commercial airports in the 27-nation bloc.
Business will drive much of the global effort for a clean environment. Some analysts believe clean technology is the key in the battle against global warming.
Wall Street is in for a quiet three and a half days of trading this week with many market participants on vacation and traders mostly focused on defending this year's gains.
Stocks slumped Thursday in a thinly-traded session on the last day of 2009 as investors mulled a better-than-expected report on initial jobless claims at the end of a big year on Wall Street.
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Many bosses like to run their businesses in a way that suggests they've missed their vocation in life, such is their fondness for barking orders at their staff. All they seem to lack are some epaulettes, a peaked cap and a one-way ticket to a military academy.
Reinhard Mohn, who turned his family's religious publishing company into Bertelsmann AG, one of the world's largest media conglomerates, died Saturday, the firm announced Sunday.