CHAMPAIGN, Ill. (AP) --- Floodwaters receding into the Mississippi River and its tributaries will suck billions of dollars out of the Midwest’s economy, though probably not as much as the 1993 flooding that devastated the region.

A lobby group promoting "green" business today told politicians that the nation needs them to approve the emissions trading scheme (ETS) now before Parliament.

The economic calendar is noticeably bare next week, with Thursday?s second-quarter Capital Spending release the only significant item on the docket. Expectations call for business investment to increase 0.2% having fallen -4.9% in the first three months o

The weakening US economy takes its toll on Japanese exports, which fall 11% in the first quarter of the year.

President George W. Bush, wrapping up his final summit with world leaders on Sunday, offered a message of hope that despite the worst economic crisis in decades, the global economy will emerge in better shape.