BC-Business News Preview,ADVISORY
Among the stories for Tuesday from The Associated Press:
STATE OF UNION-ECONOMYWASHINGTON â¿¿ As President Barack Obama delivers his State of the Union speech Tuesday night, he presides over an economy much healthier than the one he inherited four years ago. Yet growth remains slow and unemployment high. By Christopher S. Rugaber and Paul Wiseman. AP photo LEW-TREASURY WASHINGTON â¿¿ The to-do list that awaits Jacob Lew, President Barack Obama's choice to be Treasury secretary, is daunting. Bridge disputes in Congress on taxes and spending. Shrink budget deficits. Manage tense economic ties with China. Press Europe to reduce debts while fighting a recession. Defend the U.S. financial overhaul law. Prevent a global currency war. And those are just the obvious challenges. If the Senate backs Lew's nomination after a committee hearing Wednesday, he will likely have to marshal all his strengths as a budget specialist and perhaps overcome inexperience in some areas to achieve significant success. By Martin Crutsinger. AP photo G7-EXCHANGE RATES BRUSSELS â¿¿ The Group of Seven leading industrial nations, which includes the U.S., Japan and Germany, seeks to defuse escalating tensions about an impending "currency war," warning that volatile movements in exchange rates can adversely hit the global economy. Exchange rates and the threat of a "currency war" are expected to feature heavily at the Group of 20 meeting of finance chiefs in Moscow on Feb. 15-16. By Pan Pylas. With: ASIA CURRENCIES-Q&A SEOUL, South Korea â¿¿ Japan's weak yen is turning the tables on its Asian exporting rival South Korea. For several years, South Korean manufacturers such as Hyundai and Samsung Electronics increased their market share at the expense of Japanese rivals partly because South Korea's currency, the won, was weak while the yen was rising against the dollar and other currencies. That situation is now reversing. By Business Writers Youkyung Lee and Elaine Kurtenbach.
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