Update on the Economy

"US business bankruptcies rise 40 per cent in May
3 Jun 2009, 0716 hrs IST, REUTERS

"NEW YORK: US business bankruptcy filings jumped 40 percent in May from a year ago as the sluggish US economy pushed more businesses into the red, a bankruptcy data provider said on Tuesday."

More here. (Funny how you have to go to India Times for the facts about bankruptcies in the U.S.)