As the U.S. economy continued its steep fall into a deeper recession, many major oil companies – in particular Exxon Mobil – enjoyed a steep ascent into record-setting profits.
The U.S. gross domestic product (GDP), which measures economic activity, fell at a yearly rate of 3.8% in the fourth quarter of 2008 (adjusted for inflation).
That’s the [...]

Hours before a meeting with President Barack Obama, House Republican leaders sought to rally opposition Tuesday to a White House-backed economic stimulus measure with an $825 billion price tag.
Several officials said that Reps. John Boehner of Ohio, the GOP leader, and Eric Cantor of Virginia, his second-in-command, delivered the appeal at a closed-door meeting of [...]

The threshold holidays, Britons have learned that very soon, parity exchange pound sterling could go down to 1 euro. Currently, the pound versus other currencies fell to the lowest level for the past 28 years, against the backdrop of fears about the health of the British economy, writes The Telegraph.