Stockton, Cal., to become the largest city to file for bankruptcy in America
Stockton, Cal., is about to become the nation’s largest city to file for bankruptcy under U.S. code.Stockton is facing a $26 million budget shortfall and hasn’t been able to square its debts through...
View ArticleChina finding new uses for old bomb shelters under its cities
Shanghai’s Peace Hotel is an art deco treasure, where elderly jazz musicians conjure the spirit of a bygone era.In the 1930s, this is where Noel Coward polished his play “Private Lives,” where...
View ArticleLibya's crackdown on illegal immigrants poses problems for that country's...
Nearly two million immigrants lived in Libya before the uprising last year, most there illegally.Today, only about a half million foreign workers make their home in the North African country. And...
View ArticleU.S. legislation complicating Americans' use of foreign banks abroad
Katherine moved to Switzerland from Ohio in 2008 to be an au pair.The United States was in the middle of its financial crisis and she figured “why not?” First order of business in Zurich was to get a...
View ArticleSpanish hotel, built in national park, symbol to many of what's wrong with...
Spain is hinting that it might loosen restrictions on homes and other buildings built too close to its coastlines.The government is under enormous pressure to modify a 1988 law that requires tearing...
View ArticleAs machines replace workers, middle class struggles to keep up
The cyclical relationship between jobs and technology has long helped shape the world's modern economy. New technologies replace workers, who then find new jobs in another sector created by a different...
View ArticleLibor manipulation scandal may have cost cities and states millions in losses
What began with a banking scandal at investment banking giant Barclays has evolved into a complex investigation of manipulation of interest rates in the United Kingdom. But it may have consequences...
View ArticleAmericans' trust in banks hit record low as financial scandals continue
Americans' confidence in banks is at an all-time low, as scandals continue to errode Wall Street's public image four years after the 2008 financial crisis.A recent Gallup poll found that 21 percent of...
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Spanish coal miners strike, galvanize public support
In recent years, in more prosperous times, people in Spain tended to bad mouth coal.It’s dirty, it’s polluting, it’s unsustainable as an energy source. Coal is an anachronism as we move toward a world...
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Former Bain Capital executive defends Romney's CEO record
A former managing director at Bain Capital, the private equity firm founded by Mitt Romney, says the controversy over Romney's history at the company overshadows more important presidential campaign...
View ArticleFarmers struggle as historic draught diminishes crop yields
More than 50 percent of the United States is under drought conditions, making the current dry spell the largest in more than 50 years, according to a report released Monday by the National Oceanic and...
View ArticleU.S. H1-B visa program may help companies outsource, offshore jobs
A lot of political talk in recent days has focused on outsourcing. Specifically, did Mitt Romney manage Bain Capital while the equity fund was shipping jobs overseas?For many American companies,...
View ArticleJustice Department investigating Sheldon Adelson, GOP's biggest donor
At the center of this election season's explosion of vast donations of cash is Sheldon Adelson, a billionaire casino magnate who owns hotels in Las Vegas and Macau and has donated tens of millions of...
View ArticleState law, bad decisions caused Pennsylvania cities' problems, expert says
In Pennsylvania, so many cities and towns are in financial distress that one economic development specialist has what he calls a “measles map” of the state, covered with 27 red dots representing...
View ArticleU.K. rules restrict use of Olympic terms to official businesses, Union Jack...
The Olympic Games begin later this week in London.Some critics have taken to calling them the ‘Censorship Olympics’ — a reference to sweeping laws enacted by the British government in 2006, required by...
View ArticleProposed tax hikes in France strike a nerve with top earners
Swedish soccer star Zlatan Ibrahimovic announced at a recent press conference in Paris that a French team had signed him for about $17 million a year.Soccer salaries often cause controversy, but...
View ArticleHonduras looks to Hong Kong as a model for economic revitalization
Honduras has been going through an especially rough patch.A military coup in 2009 ousted its president. Drug violence has helped give Honduras the world’s highest murder rate. On top of that, the...
View ArticleEconomist says the American retirement system has failed
It’s been 30 years since the Individual Retirement Account model became the standard way for Americans to save for retirement.But many people who saved for three decades watched a lot of that money...
View ArticleItaly turns to shoe company billionaire to pay for Colosseum rennovations
Italian authorities have launched a $30 million effort to restore the Colosseum in Rome, scheduled to get underway in December.The ancient arena has withstood 2,000 years of history. But it’s been...
View ArticlePostal Service defaults on $5.5 billion payment after Congress refuses to...
The U.S. Postal Service defaulted on $5.5 billion in retiree health care payments Wednesday, raising new calls for a drastic restructuring of the mail system and Congressional intervention.The service...
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