Consumers are facing a double whammy. Sticker-shock at the gas pumps and again at the grocery store. Today a Congressional hearing focuses on how rising food costs affect Americans and what can be done. Jeff Tyler has more.
Beijing has promised a smoke-free Olympics this August, and today, the city began a sweeping ban on smoking in public places. That is, with the exception of a couple of highly visible industries.
Scott Tong reports.
Economics Correspondent Chris Farrell thinks raising the gas tax would not only change driving behavior, it would encourage research and development into alternative and more efficient fuels. He, by the way, isn't running for office.
Today, Wall Street is convening in Washington for the security industry's first ever federal legislative and regulatory conference. Jill Barshay reports that financial executives need to make friends while they're there.
Italy is recovering from a questionable experiment in transparency. Italians were shocked to discover, yesterday, that the government had put their tax statements online — everyone's tax statements. Megan Williams reports from Rome.
Banks borrowed heavily to make lucrative investments during good times. Since then, losses from the subprime mortgage meltdown have eroded their cash cushions. Amy Scott reports banks are being taught a lesson learned from last century.
For Hollywood, May 1 marks the start of the summer movie season. Lisa Napoli says Tinseltown has high hopes for big box office returns this year, beginning with the release today of "Iron Man."
A House committee has passed a bill that might help curtail pirating of music and movies. In addition to tougher penalities, the bill would create a cabinet-level Intellectual Property czar. Janet Babin has more.
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