September 2009 Current Events: Business/Science News
Here are the key events in business and science news for the month of September 2009.
- Federal Reserve Cites Evidence of Slow Economic Recovery (Sept. 9): The Federal Reserve releases a survey that concludes that the economy is showing signs of slow recovery. Credit conditions and retail sales remain down, but other aspects of the economy, such as employer hiring in some markets, are improving.
- Swine Flu Vaccine Available in October (Sept. 18): A vaccine for the 2009 H1N1 virus (also known as swine flu) will be available ahead of schedule, in early October. The vaccine will only be available in nosespray form, which is not considered safe for pregnant women, people over 50, or those with asthma, heart disease, or other serious health problems. However, an injectable form of the vaccine will be available soon after, though a release date has not been given.
- Bank of America and Chase Revise Fee Policies (Sept. 22): Following national criticism over the fee programs for debit card users, Bank of America and JPMorgan Chase announce they will reduce or eliminate fees, adjust credit schedules, and allow customers to opt out of overdraft protection.
- First Successful HIV Vaccine Created (Sept. 24): For the first time, scientists have created a vaccine that seems to reduce the risk of contracting the AIDS virus. Scientists combined two unsuccessful vaccines to create a new version, given to 16,000 volunteers in Thailand. Those given the vaccine during the study reduced their risk of contracting HIV by more than 31 percent. The strain of the virus used in the vaccine is one commonly found in that country. Scientists are unsure whether they can recreate the results with a different strain.
- Bank of America CEO Resigns (Sept. 30): Kenneth D. Lewis, chief executive of Bank of America, resigns after 30 years. Lewis's retirement is shadowed by controversy concerning his recent takeover at Merrill Lynch.