The Washington Times slashed its staff by more than 40 percent and will eliminate its sports section and most local coverage in 2010, shifting its focus to politics, business and investigative reporting.
The car industry got a historic makeover in 2009, most of it not for the better. General Motors and Chrysler almost went broke and now largely owe their survival to billions in taxpayer money.
A look at economic developments and activity in major stock markets around the world Thursday: —— LONDON — World stocks mostly edged higher as traders headed into the long New Year holiday weekend in a fairly upbeat mood following a nine-month bull run that has seen many markets advance over 50 percent since March.
The worst of the recession is over and Britain’s economy will slowly recover in 2010, Prime Minister Gordon Brown said in a New Year’s message.
The number of newly laid-off workers filing claims for unemployment benefits dropped unexpectedly last week, a sign the job market is healing as the economy slowly recovers.
Stocks are edging higher on the last day of the year as weekly unemployment claims fell to the lowest level since July 2008.
The bank account is thin, but the future looks pretty good. That, oddly enough, is the view of many Americans who predict 2010 will be a better year than this one, even if they fear that the U.S. economy and their own financial circumstances won’t improve.
Trounced in last year’s financial crisis, Asian stocks helped lead 2009’s global rally as unprecedented government stimulus measures and economic recovery sent investors back to the region’s markets en masse.
Vietnam’s economy grew 5.3 percent this year, the slowest pace in a decade, as exports and investment wilted amid the global recession.
For all their differences, Americans largely agree on two things: 2009 was a lousy year for the nation, and 2010 is likely to be better. Nearly three-fourths of Americans think 2009 was a bad year for the country, which was rocked by job losses, home foreclosures and economic sickness.