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Supreme Court Rules Against Drug Company
The Supreme Court has ruled that people injured by drugs may file lawsuits against the manufacturers in state courts, even when the drugs involved had been approved by the Food and Drug Administration. The ruling came in the case of a guitarist who lost an arm because of a botched anti-nausea injection. She was awarded nearly $7 million in damages by a Vermont jury.
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Will AIG Need More Taxpayer Money?
The U.S. government has again propped up insurance giant AIG. It's the fourth time the government has intervened to save the company. The question is whether an additional $30 billion, on top of the $150 billion already committed, will be enough to save the company. Some analysts believe government aid to AIG will peak at $250 billion.
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Obama To Meet With British Prime Minister Brown
The global economic crisis tops the agenda as President Barack Obama meets with Britain's prime minister Tuesday. Gordon Brown is the first European leader to visit the new president. Brown will also address Congress during his U.S. visit.
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Stocks Hit Lowest Level Since 1997
The expanded bailout of AIG wasn't greeted too enthusiastically on Wall Street. The stock market plunged sharply Monday — closing down below 7,000 for the first time in 12 years.
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Obama Defends Plan As Economy Sinks
The U.S. economy continues to spiral downward. A report released Friday by the Commerce Department shows that the economy contracted at the end of last year by the fastest pace since 1982. This puts even more pressure on President Barack Obama, who this week presented his $3.6 trillion budget proposal. Saturday morning, the president said he knows he faces an uphill battle.
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Congressional Reaction Mixed To Obama's Budget
President Obama unveiled his budget for 2010 on Thursday. Democrats praised the president's commitment to expanding health care coverage, education funding and clean energy. Republicans were skeptical — especially about plans to raise taxes on businesses and wealthy households.
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Is Obama's Bold Budget Too Ambitious?
President Barack Obama unveiled a $3.6 trillion spending plan that pushes this year's deficit to levels not seen seen World War II. Longer term, though, the budget seeks to cut the deficit back to size by 2013. The budget can also be seen as a blueprint for the president's ambitious policy goals.
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Chinese Foreclosure Tourists Shopping In U.S.
A new kind of tourist package is being offered in China. Call it the "U.S. Real Estate Bottom-Fishing Tour." The first of 40 Chinese real estate shoppers are looking in the U.S. this week to buy for foreclosure properties and other housing bargains.
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4:46
Fantasy, Invention At New York Fashion Week
Sally Singer, Vogue magazine's fashion news and features director, says the need for fashion and style don't disappear — even in rough economic times.
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Burris Admits Contacts With Blagojevich Advisers
There are growing calls for new Illinois Sen. Roland Burris to resign. A county prosecutor in Illinois is looking into whether Burris perjured himself in testimony to Illinois lawmakers about how he got appointed to the Senate. The Democrat has acknowledged trying to raise money for ousted Gov. Rod Blagojevich before being appointed to the Senate.
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