Econ 101: January 25, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • During last night’s State of the Union, President Obama announced his intention to launch a new financial crimes unit to investigate financial fraud. [New York Times]
  • Obama also used the speech to call for raising the dropout age to 18 in all states. [Education Week]
  • The unemployment rate fell in 37 states in December. [Wall Street Journal]
  • According to the International Monetary Fund, the ongoing Euro crisis has significantly increased the risk of a global recession. [Washington Post]
  • Eurozone finance ministers are continuing to press Greek bondholders to accept a deal that would help stave off a Greek default. [Wall Street Journal]
  • The United Kingdom inched closer to recession, with GDP dropping 0.2 percent in the fourth quarter. [Bloomberg]
  • Apple’s fourth quarters earnings topped expectations, led by “unprecedented” sales of the iPhone and iPad. [Reuters]
  • Bank of America has warned its investment banks to prepare for a big pay cut. [Huffington Post]