Jun 06

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Unemployment Rate Jumps to 5.5% in May

The nation's unemployment rate hit 5.5 percent in May as employers cut 49,000 jobs, providing a fresh snapshot of a still-struggling U.S. economy. Employers have now cut payrolls for five straight months.

Jun 03

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General Motors announced the closure of four truck and SUV plants in the U.S., Canada and Mexico Tuesday and said it may discontinue its Hummer brand as soaring fuel prices push a broad shift in the U.S. to smaller vehicles.

Since undertaking market reforms in late 1970s, China has enjoyed an economic boom -- but the economic progress has also produced serious environmental damage and pollution problems. Margaret Warner reports on China's environmental woes and their impact on the run-up…