President-elect Barack Obama said Saturday that an analysis of his stimulus proposal found that the capital infusion could save or create as many as 4 million U.S. jobs by 2010, nearly 90% of them in the private sector.

The half-trillion-dollar stimulus package that China unveiled on Sunday underscores that country’s growing importance to the global economy and shows Beijing’s willingness to assume a leadership role in the battle to blunt a widening worldwide financial crisis, a top expert on China said yesterday (Monday).

China unveiled yesterday (Sunday) what it described as a “massive” economic stimulus package – a planned capital infusion of $586 billion that it plans to use to reverse its slowing growth, to loosen credit and to offset slowing global growth by stoking domestic demand.

At its annual shareholder meeting yesterday (Wednesday), Swiss bank UBS AG (UBS) announced it would cut expenses, raise additional capital and replaced its chairman.