Marketplace for Wednesday, December 17, 2008
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Alarmed by the plummeting price of oil, OPEC ministers today announced a record cut in future output -- 2.2-million barrels per day beginning Jan. 1. Even so, prices on world markets hit four-year lows today. John Dimsdale explains why.
The dollar has dropped dramatically against key foreign currencies. It now stands at a 13-year low against the yen, and it's back to October lows against the euro. But currency experts expect the U.S. economy to bounce back before others, Jeremy Hobson reports.
Bernard Madoff's alleged Ponzi scheme is just the latest high profile mistake made by the SEC. Chairman Christopher Cox has launched an internal probe, and there are many more investigations to come. Steve Henn reports.
You've got two weeks to get your finances in order, when it comes to what you'll be paying Uncle Sam in income taxes. Tess Vigeland talks with the Wall Street Journal's Tom Herman to get some helpful hints on reducing the tax bite.
A small businessman who runs a car repair shop in Minneapolis is doing rather well these days, as customers try to extend the lives of their beaters. But he has a big obstacle to success -- he's an undocumented Mexican immigrant. Stephen Smith reports.