Money Matters - Simplified

Economy

Workers turn to freelance in tight economy

New York -- Increasing numbers of displaced U.S. workers are turning to freelance opportunities to make ends meet, a labor market consulting firm said.

About 26 percent of U.S. workers now work as freelancers, Kelly Services Inc. said. CNNMoney.com reported Monday that Kelly Services believed that 19 percent of U.S. workers availed themselves of freelance work in 2006.

Hiring freelance workers allows employers to avoid healthcare and retirement benefit costs. They can also dismiss freelancers quickly when specific jobs are complete.

"Not only (are) more people looking for new ways of earning money, there are also more companies looking to make their employment practices more

The World Economy in a Nutshell

The financial crisis may have depressed investors, but students remain excited about the investment profession.

Economy must brace for flu's ill effect

Urbana, Ill -- The already-reeling U.S. economy should expect another body blow from the outbreak of H1N1, or swine, flu, a University of Illinois professor says.

Mathematics professor Julian Palmore says weather or illness crises can create harsh conditions for economies, infrastructures, populations, public health and stability, so planning for international security must factor in the effects of natural disasters, reported the Champaign (Ill.) News-Gazette.

"The spread of the disease is breathtaking, and the response is rapid. ... Everyone is concerned that any sort of infection that is growing so rapidly can have a profound impact on the way we do business," Palmore said. "National security is in the picture, but not directly threatened."

Economic Outlook: Close calls all around

Washington -- U.S. markets have ignored headlines and found ways to make gains in spite of seemingly unrelenting turbulence on Wall Street and elsewhere.

At a news conference Wednesday, President Barack Obama said what surprised him most in his first 100 days in office were the number of crises crying for attention all at once.

Wall Street, it seems, is the epicenter of many of these. Oh, yes, and then there's Detroit.

And Charlotte, N.C., where shareholders at Bank of America's annual meeting Wednesday narrowly voted to split Chairman Kenneth Lewis' job description, pushing him out of the top job. While keeping Lewis as president and chief executive officer, the board gave the chairmanship to bank director Walter Massey.

5 Lessons from Recession

Economic downturn, financial slowdown, meltdown of the global markets, recession – call it what you will, the connotation is negative and the words scary. We can try and simplify it all we want, but the overall import is ‘this is bad news’.

US economy shrinks 6.1 percent in first quarter

Washington, April 29-- The US economy contracted at an annual rate of 6.1 percent in the first three months of 2009, the US Commerce Department said in its initial estimate Wednesday.

That follows a 6.3-percent contraction in the final quarter of 2008 as the US battles through its worst recession in decades.

-IANS

Are You Ignoring the World's Next Great Growth Story?

If you saw the Olympics, then you glimpsed China's potential. At least, former British Prime Minister Tony Blair did. In a recent Wall Street Journal editorial, Blair wrote that he observed "a confidence, an optimism, a lack of the cynical, and a presence of the spirit of get up and go, that reminded me greatly of the U.S. at its best and any country on its way forward."

Corruption in business journalism: a worrying malaise

By Sushma Ramachandran

The startling order of the markets watchdog recently on the Pyramid Saimira stock manipulation case over the alleged involvement of a business journalist from a leading financial daily should make the media sit up and think hard about the issue of corruption.

Boeing, Going, Gone

Reviewing his company's first-quarter performance Wednesday, Boeing (NYSE: BA) CEO Jim McNerney sounded an upbeat note: "Performance across the overwhelming majority of our programs remains solid." But does that statement hold water? Investors seem to think so: Boeing shares are in their third consecutive day of post-earnings gains. But judge for yourself:

Global financial crisis creates development emergency

By Anindita Ramaswamy, DPA

Washington, April 25 The widening global financial crisis has created a development emergency, preventing many countries from achieving targets on reducing hunger, child mortality and major diseases, the International Monetary Fund (IMF)and World Bank have warned in a report.