GE executive says economic crisis resetting capitalism, can’t predict when recession ends

WASHINGTON — The top executive of General Electric Co. said Wednesday he couldn’t predict when the recession would end or how bad it will be, but said the global economic crisis has “fundamentally reset” the way companies do business and capitalism itself.

CBS News bringing back ‘CBS Reports’ moniker for recession reports

NEW YORK — CBS News is dusting off one of the most storied brands in its history: the documentary series “CBS Reports.”

IMF: Global recession hammers Middle East nations, despite oil-fed cash surpluses

CAIRO — The world’s worst economic recession in about six decades is hammering the nations of the Middle East, with falling commodity prices severely straining economies and wealthy oil producers digging deep into savings to sustain spending.

ILO says prolonged labor recession, social crisis, looms in Asia amid grim employment figures

MANILA, Philippines — Asia faces the risk of a prolonged labor market recession and social crisis that could take much longer to shake off than the current economic downturn, the International Labor Organization said Wednesday.

UK Treasury chief to present recession budget with narrowing room for maneuver

LONDON — British Treasury chief Alistair Darling will present the government’s budget on Wednesday, with his options constricted after pumping billions into stabilizing a foundering economy.

AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Thursday, July 2, 2009:

Japan exports still weak in March, plunging 46 percent, but eye of storm may have passed

TOKYO — The severe slump in Japan’s exports eased slightly in March, offering a small sign that overseas demand may be headed toward recovery, even as the nation recorded its first annual trade deficit in 28 years.

Japan’s exports nearly halve in March as demand from major markets remains in doldrums

TOKYO — Japan’s exports continued to slump in March, hit by declining shipments of autos and electronics, underlining a grim outlook for the world’s second-largest economy as it struggles to climb out of recession.

Fifth Third Bancorp CEO seeks to reassure shareholders as bank struggles with recession

CINCINNATI — Fifth Third Bancorp’s chief executive sought to reassure shareholders Tuesday as the troubled regional bank copes with dramatically lower stock prices and dividends.

Eureka! Recession, high gold prices draw new wave of prospectors to California’s gold country

COLOMA, Calif. — There’s still gold in California’s Sierra Nevada foothills, and a new rush is under way to find it.

Survey: companies freezing salaries, limiting bonuses say cost cuts may stay as recession ebbs

NEW YORK — Salary freezes, bonus reductions and unpaid furloughs have surged in recent months as companies try to survive without layoffs, and a new survey found many businesses intend to keep the cost-cutting measures after the recession eases.

Spam, Kool-Aid, other staples in limelight as companies raise ad spending on low-price items

NEW YORK — The frill is gone.

Minister says Kazakhstan faces recession unless economic stimulus package is sped through

ALMATY, Kazakhstan — Kazakhstan’s once-booming economy will slip into recession unless the government speeds through a multibillion dollar stimulus package, the country’s economy minister warned Tuesday.

China organizers say global recession won’t keep Asian Games from being success like Olympics

KUALA LUMPUR, Malaysia — Organizers are confident the global recession won’t prevent next year’s Asian Games in the Chinese city of Guangzhou from replicating the success of the Beijing Olympics.

Australia is in recession but long-term prospects remain good, central bank chief says

SYDNEY — Australia has followed the rest of the world into a recession, the central bank chief said Tuesday.

Indie music fest Coachella concludes with sets by M.I.A., McCartney, Yeah Yeah Yeahs

INDIO, Calif. — Crowds appeared as big as ever at the seemingly recession-proof Coachella music festival, where Paul McCartney delivered an epic set of Beatles classics, M.I.A. ended her maternity leave and the Yeah Yeah Yeahs played Sunday alongside a giant inflated eyeball.

Vietnam announces stimulus plan to help farmers affected by global economic downturn

Vietnam announces stimulus plan to help farmers

HANOI, Vietnam — Vietnam has announced an economic stimulus plan to help farmers who are among those worst affected by the global recession, the government said Saturday.