The Romney campaign has accused the Obama administration of being too soft on China. Critics of China's trade policy say Beijing keeps its exchange rate artificially low in order to make Chinese products cheaper than products made in the U.S., thus giving China an unfair trade advantage. President Obama, like his predecessors, has declined to identify China officially as a "currency manipulator," saying that designation would have no beneficial effect and could spark a new trade war. Governor Romney says he would reverse that policy on his first day in office.
Citigroup CEO Vikram Pandit is stepping down. In a statement released Tuesday morning, he said the time was right for someone else to take the helm. Pandit, who is 55 years old, took the top spot at Citi in December of 2007, just as the financial crisis was beginning to unfold.
The U.K. has denied extradition to the United States for a computer hacker who is accused of breaking into military systems. British authorities say they feared he would commit suicide. The U.S. sought Gary McKinnon's extradition in relation to an incident 10 years ago.