This week’s wrap-up

A wrap-up for the week of August 2nd.

Bad news in the business world today.

Stocks are slumping because the job number for July were released. Number for jobs lost in the month of July is hovering around 131,000.

The value of the US dollar continues to fall in response to these numbers. Wheat prices are soaring because of prolonged drought in Russia.

People are boycotting Tylenol, Mortin, and Benadryl after the FDA slammed a children’s Tylenol facility back in May.

So much for the bad news.

Good news?

Christina Romer, head of President Barack Obama’s Council of Economic Advisers, will step down and return to her teaching post at the University of California, White House officials said on Thursday. The resignation will take effect on September 3. Romer, who has been a big supporter of health care reform and the president’s stimulus plan, is one of Obama’s principle economic advisers — certainly, one of the most visible. The two meet on almost a daily basis.

Federal officials are sounding increasingly optimistic that the end is in sight in the drive to permanently seal the well.

BP finished pouring cement down the well on Thursday in an operation known as a “static kill,” completing the job earlier than expected. The process took six hours.

And, John Goodman lost 100 pounds, so…great!

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Posted on August 6, 2010, in Global Biz, Market Trends, Newspaper & Journal Articles, Politics & The Economy and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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