Italy's prime minister promised European leaders that he would come up with solid proposals to show his country can reduce its mountain of debt, stimulate its economy and avoid a bailout. But he's expected to show up at the G-20 summit with with a vague list of measures that aren't likely to satisfy.
The Federal Reserve is predicting slower growth and less improvement in the unemployment rate through 2013. The news comes after a meeting of the Fed's policy-making committee, in which it decided against taking new measures to stimulate the economy. But Chairman Ben Bernanke said additional steps may be needed down the road.
As the G-20 convenes in Cannes Thursday, the European Union's roller-coaster debt crisis tops the agenda. Last week, European leaders asked cash-rich China to back the E.U.'s bailout fund. Some economists saw the request as marking a shift in the global economic order.
Machines used to take over work that was physically hard, or dangerous, or just monotonous. But one expert says that now the things that are easiest to automate are not the lowest-skill activities. Instead, higher-skill, better-paying jobs are being lost.
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