Jul 14 Watch Fallout Continues from California's Budget Woes After failing to plug a $26 billion budget gap, California has begun sending out IOUs to cover its costs, but most banks are refusing to accept them. Spencer Michels reports on the ongoing financial crisis in the Golden State. Continue watching
Jul 14 Watch Other News: Obama Predicts More Job Losses, Helicopter Crashes in Afghanistan In other news, President Barack Obama predicted job losses would likely continue to rise for the next few months, and six civilians working for NATO died in Afghanistan when their helicopter crashed. Continue watching
Jul 14 Simon Johnson on China and the U.S. Economy By Business Desk Paul Solman: The second in this week’s series of video exchanges with Simon Johnson of the Peterson Institute of Economics, MIT, and (formerly) the IMF, concerns China. Continue reading
Jul 14 Goldman Sachs Reports Quarterly Profits of $3.4B By PBS News Hour Just a month after paying back $10 billion in government bailout funds, Goldman Sachs reported impressive second-quarter earnings Tuesday, comfortably surpassing analysts' expectations. Continue reading
Jul 13 Watch Global Recession Impacts Dairy Prices, Farmers Amid the economic slowdown, the dairy industry is being hit with high costs and lower profits, forcing many farmers to make tough decisions. NewsHour special correspondent Jeffrey Kaye looks at how some California farmers are responding to depressed global demand. Continue watching
Jul 13 Watch Other News: Markets Rise, Obama Resumes Push for Health Care Reform In other news, the Dow Jones industrial average made significant gains after an analyst expressed optimism for the banking industry, and President Obama warned Congress not to delay or block passage of comprehensive health care reform. Continue watching
Jul 13 Simon Johnson on Whether Wall Street Has Changed By Business Desk Paul Solman: MIT’s Simon Johnson, former chief economist at the IMF, is a frequent contributor to the NewsHour and this page. He’s also coauthor of a blog… Continue reading
Jul 13 Is California Printing Its Own Money? Question: Is California printing its own money? Paul Solman: Funny you should ask. The State of California Franchise Tax Board website currently features this statement: “We will accept registered warrants…towards the payment of tax liabilities.” State taxes, of… Continue reading
Jul 10 Watch Other News: Markets Drop, Health Reform Meets Delays In other news, the Dow Jones Industrial Average lost more than 36 points to close at 8146, and the push to overhaul the health care system ran into new delays in Congress. Continue watching
Jul 10 Watch Post-Bankruptcy, GM CEO Pledges New Course After the announcement that General Motors Corp. had completed its 40-day stay under bankruptcy protection, CEO Fritz Henderson speaks to Judy Woodruff about the company's goals for remaking the struggling auto maker. Continue watching