President Obama will have to persuade a global audience that the U.S. remains a pre-eminent world leader, even though he is presiding over a politically gridlocked government that is so far unable to hoist the U.S. economy out of its own economic slump.

Huntsville is the shining star in Alabama's economy. Scientists there designed the rockets that put man on the moon. In the past 50 years, it's become a magnet for high-tech space and defense jobs. But with NASA downsizing and the specter of defense cuts looming, Huntsville finds itself in limbo.

International flights to Tripoli are packed with businesspeople looking to land contracts with the oil-rich state. Countries like France and Italy that supported the new government early on are expected to become favored trade partners. But there's been a noticeable absence of American businesses.

Robert Siegel speaks to Dave Ridpath, an assistant professor of sports administration at Ohio University. Ridpath, a former Division 1 wrestling coach and assistant athletic director at Marshall University, has called the current system of college sports "broken." He says that the current scandal at Penn State is the most extreme example of a college sports system that protects teams at all costs.

Italy's borrowing costs spiked Wednesday, pushing the country into bailout territory. But Italy is too big to be saved by Europe's bailout fund. Although the same story has played out in other European countries, an Italian default could be catastrophic.

A survey finds most pet owners plan to buy their pets a gift. People are expected to spend more this year on their pets. They're budgeting $46 — up $5 from last year.

Regulators in Florida recently gave two utilities permission to begin charging customers for nuclear plants that won't be completed for at least a decade. To encourage development of nuclear power, Florida allows utilities to charge customers upfront for the costs. Now there's a movement to rethink that policy.

Lowering payments to Social Security recipients would help slash budget deficits and even reduce wealth inequality. But there's little support among Democrats or Republicans, the young or the old for cutting the safety net.

Italy's prime minister Silvio Berlusconi announced Tuesday that he would step down after an economic overhaul plan is approved. The announcement comes amid European concerns over Italy's solvency following the Greek debt crisis.