U.S. companies are continuing to cut back on employee travel plans amid uncertainty surrounding the health of the economy. The Global Business Travel Association says Americans are expected to take 438.1 million business trips this year, down 2 percent from last year. Overall business travel spending is expected to be up, but that's only because trips are more expensive. The travel group cites a lack of significant job creation in the sectors that would spur business travel and worries about whether a package of steep tax increases and sharp government spending cuts can be avoided as major factors hurting business travel plans.
- Associated Press