Crisis spurs people to work for free - good or bad?
With US unemployment at a 20-year high, some Americans are working for free while looking for a job, but experts are split over whether it is a sign of dedication or desperation.
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US Democratic senators agreed Friday on a scaled-back US$780 billion fiscal stimulus package, a potentially big win for President Barack Obama but undercut by scant Republican support.
Agencies
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 German gov't, banks agree to $69B bailout for Hypo
Two private equity groups on Wednesday signed a 2.28 billion kronor ($280 million) deal to buy troubled investment bank Carnegie from the Swedish government. Carnegie was nationalized in November after Sweden's financial regulator revoked its banking license due to what it called illegal trading activities.
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 Freddie Mac reports loss of $821 million
Demand for US mortgage applications tumbled nearly 25 percent last week, with requests for loans to buy homes sinking to an eight-year low.
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 Fed moves to deal with financial crisis
Despite broad Republican opposition, the Democratic-controlled US Congress gave final approval Friday night of the $787 billion stimulus bill designed to jumpstart the economy.
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 Rising prices beat down consumer spending in June
The president of the University of California (UC) said on Friday he would propose to its regents that they approve pay cuts through furloughs to shave $515 million from the public university system's costs amid the state's broader budget crisis.
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- World markets slump; Nikkei at 26-year low
- ASEM leaders vow to promote political dialogue
- ASEM leaders pledge to deepen economic co-op
- ASEM resolves to further promote interfaith understanding and exchanges
- ASEM agrees to issue the Beijing Declaration
- Asian, Europen leaders call for realizing social cohesion
- US economist: recession will end this year
- UN report: Global economic forecast looks gloomy
- US must woo world tourists: lawmakers
- UAW wins big Chrysler stake but can't run company
- Entrepreneur: US economy to start recovering early next year
- Expert: World moving into second wave of financial crisis
- Business leader: China to be among first to recover
