Car owners have been wincing in recent months as the price of oil has shot up well over the once-unimaginable $100-per-barrel mark. But an economist at Carnegie Mellon University believes that skyrocketing oil prices are a good thing, and will lead to necessary innovations in conservation and green technologies. Continue reading
With the economy a top campaign issue, presidential hopefuls Sens. John McCain and Barack Obama are working to shape their stances on international trade and free-trade policies. Analysts discuss the candidates’ statements and the impact of trade policy shifts. Continue reading
Trouble has been brewing among large air carriers, plagued with high costs, competition and traffic, but these troubles have now begun to take their toll on regional airports, which are struggling to just survive. Elizabeth Bracket reports from Indiana. Continue reading
The Labor Department announced the sixth consecutive month of job cuts Thursday as employers cut 62,000 workers, further fueling U.S. economic concerns. Analysts examine the news. Continue reading
Starbucks announced Wednesday the closure of 600 stores and plans for staff cutbacks after a drop in sales. Lee Hochberg reports on the economic shifts behind the company’s losses and how the coffee giant plans to recover.
Ahead of the Group of Eight summit in Japan next week, World Bank President Robert Zoellick is calling on world leaders to renew their focus on the global food crisis what efforts to address food shortages as commodities’ values escalate. Continue reading
The U.S. Food and Drug Administration said Wednesday that it still did not know the source of a salmonella outbreak that has sickened 869 people and plans to expand its search beyond tomatoes, the first suspected culprit. A USA Today reporter updates the story. Continue reading