Japan's lawmakers have agreed on an $80 billion economic package. The world's second-largest economy pulled itself out of recession earlier this year but is being hit now by deflation. Print media companies are trying to slow their financial descent. Several magazine publishers are expected to unveil a joint venture Tuesday. It's a new company that hopes to create technology standards for how magazines will look on digital devices. Full Story »
The Troubled Asset Relief Program, or TARP, is expected to lose less money than first thought. Republicans want to use the money that isn't spent to reduce the federal deficit, but President Obama wants to use it to help create jobs. Meanwhile, financial analysts suggest reducing taxes on businesses. Full Story »
In the wake of the financial scandal that destroyed Enron, Congress created an independent board to watch over the accounting of all publicly traded firms. In order that the Public Company Accounting Oversight Board have total independence from political influence, Congress deemed that its members be appointed by the Securities and Exchange Commission. The court heard arguments Monday that challenge whether Congress went too far and overstepped the Separation of Powers clause of the Constitution. Full Story »
Large banks are repaying the bailout money they received much faster than expected. The administration says the cost of the TARP program will be about $200 billion less than estimated. Big financial firms are making profits again because the government has driven down borrowing costs for banks and safeguarded their debts. Full Story »
The Federal Reserve report was another sign that consumer spending remains weak, making it harder for the economy to mount a sustained rebound — although the decline was less than experts had expected. Full Story »
A small Nevada accounting firm and an anti-tax group brought the challenge to the 2002 Sarbanes-Oxley law, arguing that the board created by the law violates the Constitution's separation of powers mandate because the president cannot appoint or remove its members. Full Story »
Despite some economic improvements, Federal Reserve Chairman Ben Bernanke warned it's too soon to declare that the budding recovery will last. "We still have some way to go before we can be assured that the recovery will be self sustaining," he said in remarks to the Economic Club of Washington. Full Story »
The United States has all the tools it needs to replace its old coal energy economy and drastically cut greenhouse emissions. So what's missing? Political will — and money. Full Story »
The Air Force has been trying to replace its aging fleet of tankers that refuel warplanes in midair for the past decade. But the bidding process has been mired in controversy and politics. Now defense contractor Northrop Grumman is threatening to pull out of the competition for the $35 billion contract. Full Story »
While times are tough for many Americans, the Bureau of Labor Statistics shows increasing disparities between black and white unemployment. More than a third of young black men are unemployed, and a college education doesn't necessarily make candidates less vulnerable. Full Story »
