The ailing Michigan economy could use any boost it can get after the well documented collapse of its staple automotive industry. Government bail outs are by no means a long term solution and the state is looking for any outlet to spur economic growth. In 2008, a bill proposing the legalization of medical marijuana in [...]

Cambodia’s king has pardoned a Thai man jailed for seven years for spying on Thai ex-PM Thaksin Shinawatra, a Cambodian government spokesman says.
Siwarak Chothipong, 31, was accused of passing Mr Thaksin’s private flight details to Thai diplomats while the former PM was on a visit to Cambodia.
Relations between the two nations have been tense since [...]

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The Organisation for Economic Co-operation and Development (OECD) says growth and recovery are expected in 2010 in just about all world regions.
For its 30 member countries, rich nations including the US and UK, it has more than doubled its growth forecast to 1.9% for next year, from 0.7%.
But the OECD warns developed nations not to [...]

Figures released by the Japanese government show that the country’s economy has grown for a second successive quarter.
The world’s second biggest economy grew by 1.2% in the three months from July to September – faster than economists had predicted.
However, analysts say overall growth is likely to be sluggish for years.
The global downturn had plunged Japan [...]

The US finance group GMAC has failed to raise enough capital to cover potential losses and will need further government aid, the Federal Reserve has said.
The firm, formerly the finance arm of General Motors, was one of 10 US banks told to raise extra funds by the Fed.
In May, the Fed ordered the banks to [...]

French Finance Minister Christine Lagarde has warned that huge bailed-out banks created by the financial crisis could abuse their new power.
She has asked other countries to look at the lack of competition from banks “on steroids, relying on public money”.
Governments have stepped in to lend taxpayer support to several troubled banks, including Citigroup and Royal [...]

British Airways has reported a loss before tax of £292m ($485m) for the six months to the end of September, as the recession continues to hit airlines.
It is the first time BA has reported a loss in the first half of its financial year. Last year it reported a profit of £52m for the same [...]

Global shares have fallen sharply after figures showing a drop in US consumer spending dampened the enthusiasm that followed Thursday’s US GDP figures.
US consumer spending dropped by 0.5% in September after a 1.4% rise in August – the first fall in five months.
The figures wiped out gains made on Thursday sparked by data showing the [...]