We got word today from the Institute for Supply Management, factory activity rose last month. Economists had predicted the numbers would be flat so the positive reading kinda caught some analysts off-guard.
It seems as though Egypt's unrest is spreading quickly. News this morning that the Palestinian government has announced plans for local council elections as soon as possible. And in Jordan King Abdullah fired his government and called for political reform.
Just 100 miles east of Cairo, the Suez Canal allows shipping routes a direct path between the Red Sea and the Mediterranean Sea. With protests continuing in Egypt, international markets continue to monitor the canal. Amy Myers Jaffe explains.
Protests continue in Cairo over high unemployment and high food prices. Steve Chiotakis speaks with Abdolreza Abbassian, senior economist at the UN's Food and Agriculture Organization, about Egypt's high price of food, and the nation's food subsidy program.
As the protests continue in Egypt, the rest of the world prepares for major increases in the price of wheat. Egypt is one of the world's leading importers of wheat, and neighboring countries are putting in big grain orders to feed their people. Scott Tong reports.
BP announced a $5 billion loss last year -- no surprise after the company dealt with the Gulf oil spill. But the numbers could have been much worse. As Stephen Beard explains, BP is actually paying a dividend to its shareholders for the first time since the spill.
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