While America and Britain share many cultural traits, Financial Times editor David Wells says their approach to the public sector budget process couldn't be more different.

A Chinese government-owned newspaper says the country now has the biggest currency reserves in the world — $850 billion and counting. Jocelyn Ford reports.

A report out today warns there is a price for those bargain furniture imports from China. Rain forests may be paying for it. Bob Moon reports.

Today, the UN Security Council holds its first official meeting to decide what to do about Iran and its nuclear program. Alisa Roth reports.

The US isn't happy with a possible energy pact between India and Pakistan.That's because it involves building a gas pipeline from Iran. Miranda Kennedy reports.

In the wake of Dubai Ports World's announcement to transfer operations of US ports to a US entity, Sam Eaton looks at whether the arrangement could be a template for future deals involving foreign control of US assets.

The Winter Olympic torch may be extinguished, but enthusiasm for a nonprofit that became the unexpected poster child of the Games still burns bright. Melaina Spitzer has more from Turin, Italy.

President Bush heads to Pakistan tomorrow to meet with President Pervez Musharraf. Miranda Kennedy reports the American President will be offering a package of economic concessions to reward Pakistan's help in the war on terror.

The computer chipmaker announces today that it plans to construct a $300 million assembly plant in Vietnam. As Alisa Roth reports, the former US foe hopes the move will spur greater foreign investment.

Bird flu fears in Brazil has caused the price of the colorful feathers in carnival costumes to skyrocket. Paulo Prada has more.