Job woes despite recovery
Federal Reserve Chairman Ben Bernanke said on Sunday he expects the U.S. jobless rate to remain high even when the current recession ends in a few months. In a taped program set to air this week, he said that the Gross Domestic Product must grow at about 2.5 percent to keep the jobless rate constant, according to Reuters. The unemployment rate was at 9.5 percent in June.
Accused CEO dies
Hazem al-Braikan, a Kuwaiti CEO accused last week by the U.S. Securities and Exchange Commission of making suspicious stock trades was found dead in an apparent suicide, a security official at the Kuwaiti Interior Ministry said on Sunday, according to Bloomberg.
Top Five at Box Office
Walt Disney’s film “G-Force” was the top movie in the U.S. this weekend with $32.2 million in sales. Time Warner Inc’s Harry Potter and the Half-Blood Prince earned $30 million. Sony Corp’s ‘The Ugly Truth’ earned $27 million, while the company’s horror film “Orphan” earned $12.8 million. News Corp’s “Ice Age: Daw of the Dinosaurs” earned $8.2 million to round out the top five films for the weekend.