The Japanese company Sony has had a tough year. It's endured a string of attacks from hackers, earthquake damage and lower earnings and profits. Now the company has released a new product: Tablet S. David Greene talks to Bloomberg tech columnist Rich Jaroslovsky about what the success of the computer tablet would mean for the one-time king of consumer electronics.
As Spain struggles to cope with its national debt, the socialist government there is turning to some extreme measures. It's auctioning off state industries, like airports and the national lottery. The government is hoping to generate enough cash to avoid asking the E.U. and International Monetary Fund for a bailout. But as Lauren Frayer reports from Madrid, selling off state assets is not the most straightforward solution.
S&P dropped Italy's government debt a notch, pointing to weak economic growth and political divisions that could make it harder to resolve its debt problems. Prime Minister Silvio Berlusconi shot back with a statement saying the move was "dictated more by newspaper articles than by reality."
President Obama's call for $1.5 trillion in tax hikes to reduce the deficit puts him on a collision course with congressional Republicans. Some of Democratic supporters may welcome Obama's newly combative negotiating style, but deficit watchdogs warn his plan falls short in key areas.