(Truthdig) A bold experiment is under way in the world’s fifth-largest economy: As part of a recovery plan aimed at plugging a $48 billion hole in the French budget, leftist President Francois Hollande announced last week a 75 percent tax on the personal incomes of anyone earning more than $1.3 million a year, effective for two years beginning in 2013.

(AP) WASHINGTON — The ranks of America's poorest poor have climbed to a record high — 1 in 15 people — spread widely across metropolitan areas as the housing bust pushed many inner-city poor into suburbs and other outlying places and shriveled jobs and income.

(Al Jazeera) International lender's 24-member executive board says the French finance minister was elected by consensus.

WASHINGTON (Reuters) - The outspoken head of a U.S. Congressional watchdog panel will strongly urge lawmakers on Wednesday to set up a new government agency to protect consumers from "tricks and traps" set by banks.

(NYT) MOSCOW — Leaders of some of the world’s most powerful economies gathered Tuesday to plot how they can exert more control over the global financial system as it takes its first wobbly steps toward recovery.

(IHT) Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai's fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage.

(IHT) Wall Street helped produce the global financial and economic crisis. Now, as the Obama administration prepares to unveil a revised bailout plan for the banking system, policy makers hope Wall Street can be part of the solution.

(IHT) WASHINGTON: The Democratic-controlled House of Representatives approved a historically huge $819 billion stimulus bill Wednesday night, offering an early legislative victory in Barack Obama's presidency even as he failed to win over Republican support.

(Mercopress) The global economic crisis is expected to lead to a dramatic increase in the number of people joining the ranks of the unemployed, working poor and those in vulnerable employment, the International Labour Office (ILO) said in its annual Global Employment Trends report released on Thursday.

(New York Times) WASHINGTON — The House voted on Wednesday to approve a $14 billion government rescue of the American automobile industry, but the bailout plan, which would provide emergency loans to General Motors and Chrysler, was in jeopardy because of strong Republican opposition in the Senate.

(LA Times) At Republic Windows and Doors, the standoff between workers, the company and the bank has become a symbol of the divide between rescue plans for Wall Street and Main Street.

(Washington Post) Fueled by rising unemployment and food prices, the number of Americans on food stamps is poised to exceed 30 million for the first time this month, surpassing the historic high set in 2005 after Hurricane Katrina.