Main Street 9

 
Europe may be reeling from the worst recession in living memory, but in Italy you can barely tell.
As leaders around the continent suffer the backlash from factory closures and job losses, Prime Minister Silvio Berlusconi is more popular than ever, there is not a hint of social unrest and unemployment remains close to record lows.
It’s [...]

[Read more →]

U.S. oil prices rose above $35 a barrel  parring but not reversing  nearly 7% drop on renewed economy concerns, slumping demand and bloated inventories.
U.S. crude for March delivery rose 32 cents to $35.25 a barrel.
“The crude market is still hanging on to the low end of its range,” said Tom Bentz, an analyst at BNP [...]

[Read more →]

General Motors and Chrysler LLC said Tuesday they could need an additional $21.6 billion in federal loans between them because of worsening demand for their cars and trucks.
The two firms, in documents submitted to the Treasury Department, also detailed plans to cut 50,000 jobs worldwide by the end of the year. GM said it plans to [...]

[Read more →]