Economic Stimulus Act

Oil prices edged up Tuesday in Asia but remained below $50 a barrel as fears of a major automaker bankruptcy in the U.S. sparked renewed jitters over the global economy.

Alarmed by falling trade, Beijing is trying to boost exports and avert more job losses by giving companies tax breaks and other aid — a tactic that could anger Washington and other trading partners.

The Asian Development Bank slashed its 2009 growth forecast for Asia’s developing economies due to plunging exports and warned Tuesday that weak demand in the United States and other markets could delay a recovery.

Many assembly line autoworkers reacted with skepticism and anger Monday to the Obama administration’s tough tactics, which stoked long-simmering feelings that the people who put the country on wheels get treated differently than the wizards of Wall Street.

Japan’s government says the unemployment rate rose to 4.4 percent in February as companies cut jobs to weather a painful recession.

Many assembly line autoworkers reacted with skepticism and anger Monday to the Obama administration’s tough tactics, which stoked long-simmering feelings that the people who put the country on wheels get treated differently than the wizards of Wall Street.

More pain is on the way for the people and communities that depend on the automotive industry. That’s why President Obama has appointed an autoworker czar to look out for them.

The federal government on Monday asked a group of appeals court judges to overturn a ruling that could prevent the U.S. Interior Department from collecting billions in royalties on oil and natural gas leases.

Oil prices tumbled below $49 a barrel Monday as unease about the economy — from Asia to America — raised doubts about the global appetite for energy.

A New York man is asking the Nebraska Supreme Court to reverse a lower-court decision that allowed the government to seize more than $40,000 from him, even though he hasn’t been convicted of a crime.