In the US, political quarrels lead to downgrade credit first to government debt, the economy suffered its fourth straight disappointing year and Apple founder Steve Jobs passed away.
The financial crisis in Europe was selected as the top business story of the year by the business editor at the Associated Press. U.S. economy come in both sluggish, followed by the death of a job.
US economy is bad: a four-year: The great recession may be over, but the economic recovery continued to disappoint. During the first six months of the year, the economy grew at an annual rate of only 0.9 per cent. Growth improved to the level of 2 percent in the third quarter and the rate of 3 percent growth forecast for the fourth quarter.