Treasury Secretary Timothy Geithner told Congress Wednesday that the administration will extend the government's financial bailout program until next fall, saying it's needed to protect against fresh economic shocks.
Comcast Corp. announced Thursday morning that it will acquire a controlling interest in entertainment giant NBC Universal Inc. from General Electric Co. for an initial $6.5 billion in cash and, in a bid to neutralize criticism of the deal, pledged in a letter from high-level Comcast executive David Cohen that the cable giant would respect the editorial independence of NBC News.
The Obama administration said Friday that it was monitoring developments in a looming debt default by the Persian Gulf emirate of Dubai, whose efforts to fend off creditors sent stocks skidding in the United States and around the globe amid fears of new bank losses.
President Barack Obama said this week that the U.S. economy is in good shape for the long term thanks to “core strengths,” but he noted that 2009 has been a sobering year for millions of newly unemployed people. T