Immigrants to the United States with unique or valuable skills are starting to complete the roundtrip. Economic pressures and a difficult job market here have led many to return to their native countries to pursue new opportunities. This is particularly the case with immigrants from India and China, whose economies are growing this year. Meanwhile, unemployment is 9.7% in the United States right now – and likely to hit 10.3% early next year.

China's gross domestic product is poised to increase by 7.5% by the end of 2009, with India's up 5.4%. In the United States, on the other hand, GDP is forecasted to drop 2.6%.

MAJOR PAPERS:

• A loss of confidence in the government sponsored mortgage firms Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac, resulted in both companies shares plunging about 15% to 14 year lows. Because the two are the largest providers of funding for mortgages in the U.S., their troubles are significant as both may have to issue billions of dollars in stock to save themselves, diluting current shareholders, according to the Wall Street Journal.
• For 75 years the NFL's Pittsburgh Steelers have been owned by the Rooney family, but that may now change as the Wall Street Journal reported that the family is seeking to sell the football team which is valued at about $1.2B. One potential buyer is Stanley Druckenmiller, a billionaire, and chairman of Duquesne Capital Management in Pittsburgh.
• British Prime Minister Gordon Brown yesterday raised the issue of visa problems facing BP Plc (NYSE: BP) employees in Russia with Russian President Dmitry Medvedev, but Medvedev did not make any concessions on the issue, according to the Financial Times. Some people have suggested that BP's billionaire partners in its Russian joint venture, TNK-BP, have orchestrated the visa problems in order to gain control of the venture.