Barack Obama might have won the second term of US presidential elections but his bid to convince and gather supporters for his tax plan still continues. The president also held a press conference with a group of community leaders and mayors to give his debt reduction plan a push. This plan includes higher taxes for the wealthy population and budget cuts.

A study was conducted by the Australian researchers found that the obese people that belong to economically-weak section of society are less likely to undergo bariatric surgery even when they need it.

It seems that some of the senators have doubts on oil refineries, and think that they might have altered the price of gasoline. In order to know the complete truth, six Pacific state senators have urged the Justice Department to carry out a probe.

Consumer confidence in Australia registered a surprise jump in November. Experts feel that the interest rates cuts in the recent times have led to rise in consumer confidence. The Westpac-Melbourne Institute consumer sentiment index registered a gain of 5 per cent in November, touching 104.3.

The level higher than 100 suggests that there are more optimistic consumers compared to pessimists.

The Western markets are continuing to see economic turmoil, which is further forcing the government to take into account new incentives for the industry. It is therefore as per a recent report that India's exports have been seen plummeting for the sixth month in a row.

Signs of recovery have been witnessed in Chinese economy as Chinese banks have provided fewer loans as compared to previous estimates. Figures show that in October, the Chinese banks provided 505.2 billion Yuan of local-currency loans.