Bahrain’s capital city Manama is under military control as the nation tries to clamp down on the popular demonstrations that have swept across Tunisia, Egypt, Libya and elsewhere. The country's protestors may or may not be successful in building a democratic government, but one thing is for sure: civil unrest is not good for business. Just two weeks before Formula One teams are scheduled to arrive for winter testing on the Bahrain International Circuit, the 2011 Gulf Air Formula 1 Bahrain Grand Prix is in doubt. Sports are in many ways the least of the region's worries, but will bad business play a role in the unrest?
The latest unemployment numbers are out, and as expected they rose. The unemployment rate is now at 10.2 percent, and 190,000 jobs were lost in October. The numbers are surprising and reveal that the recovery on Wall Street is not reaching most of America. But buried in those data are startling numbers of older workers who are being hit hard by the rise in unemployment. Louise Story, business reporter for the The New York Times, brings us the story. The Takeaway's correspondent Femi Oke went to the New York State Labor Office yesterday to talk to older workers among the job hunters there.
When the Federal Deposit Insurance Corporation (FDIC) meets later today, it will have to address a key question raised by the tide of bank failures: Will the the government agency run out of money? And what can they do about it? We speak with Louise Story, finance reporter for The New York Times.
As President Obama spoke on Wall Street about the urgent need for tighter financial regulation, a federal judge issued a scathing ruling about how poorly regulators have been doing their job. The judge rejected a $33 million settlement between the SEC and Bank of America, saying the SEC's accusations of inadequate disclosure by the bank over bonuses paid at Merrill Lynch must now go to trial. We talk to Louise Story, Wall Street and finance reporter for our partner, the New York Times.