The "Buy America" clause in the $787 billion stimulus package signed into law on Tuesday has a certain quaintness to it. Far more than in the past, the phrase has come to mean "Buy America -- if it is still made here."

Argentina's worst drought in more than 50 years is magnifying the country's chances of suffering another economic crisis, and the lost farming revenue will complicate the government's efforts to meet more than $18 billion in debt obligations this year,

The United States makes things that other countries cannot. Today, "Made in U.S.A." is more likely to be stamped on heavy equipment or the circuits that go inside other products than the televisions, toys, clothes and other items found on store shelves.

GM, which saw sales in its home market of the US slump 49pc last month, will cut 10pc of its global office-based workforce - reducing headcount to 63,000, with 3,400 jobs going in America and the remainder coming from GM's overseas operation.

"What do you call someone who eliminates hundreds of thousands of American jobs, deprives millions of adequate health care and nutrition, undermines schools, but offers a $15,000 bonus to affluent people who flip their houses? A proud centrist."

The EU ambassador in Washington has warned that the US could set a "dangerous precedent" by asking companies to "buy American". Is it wrong for countries to put their own workers first?

A major credit card processor, Heartland, revealed this week that hackers have breached its system, allowing up to 100 million illegal duplicate credit card payments to be made per month.

The Anglo-Australian miners' job losses include 3,400 jobs in Australia - mostly in coal and nickel production, 2,000 base metals jobs in Chile and 550 positions at the Pinto Valley copper mine.

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays for its rating, nor can they elude it!