© Robert Banh

Fifth Third bank has launched Duo, a debit and credit card in one piece of plastic. This is an area where many banks have been working on but as claimed by the bank it is the first to come up with the debit cum credit card.
According to Stephanie Honan, the bank's spokesperson, customers were demanding the two in one debit and credit cards as they use the debit card for smaller purchases and the credit card for larger ones that can be paid over a period of time. Combining the two cards gives a lot of convenience.
While swiping the card a choice is asked debit or credit. If the former mode is chosen then you have to enter the PIN and the money is withdrawn from the account. If credit card mode is chosen then you have to sign for the purchase made and the amount is billed to your credit card.

© alancleaver_2000

A month and a half ago the main term that had got the focus of Senators was debt. They raised quite a hue and cry on debt looming large on the horizon. Now the scenario has changed from debt to jobs.
With the heavy weight of debt off their shoulders the Democrat and Republicans will have to stave off anxieties of voters back home and quell the fears of unemployment facing them this fall. The 12 member deficit reduction committee held its session on Thursday to approve a deficit cut of 1.5 trillion by Thanksgiving.
According to Virginian Republican, Eric Cantor the focus is now on creation of jobs; whereas the past two quarters and a half were concentrated on cuts to stave off the debt facing the economy. According to Republicans, this change in focus from debt to jobs is a natural next step to cutting expenditure.

© taberandrew

Solyndra LLC has filed for bankruptcy in a shocking series of failures in the US solar industry. The California based solar panel manufacturer has filed for a Chapter 11 bankruptcy even after it received more than half a billion dollars in Government loan guarantees.
The declaration of bankruptcy by Solyndra has followed the failures of many solar manufacturers in the US, mainly because of the oversupply and competition from abroad. The company has been struggling to raise capital since a long time as the economy slowed down. According to the document available with the US Bankruptcy Court, Solyndra owes $783.8 million to various parties including the $527.8 million that it owes to the federal government.
The company will be laying off 1,100 workers in its bankruptcy protection claims. They are also looking for a buyer to take the company out of the debt or they might contemplate liquidating the assets of the company to pay off the creditors. This claim has been followed by severe criticism of the US government policy on green technology as foreign competitors are receiving considerable incentives from their governments.