Mar 3, 2014

Detroit bankruptcy prods other cities to target pensions

Local officials in at least 10 states are trying to cut pensions of municipal workers, or eliminate defined-benefit plans, pointing to Detroit as a symbol of the peril of growing retirement costs. From New York to California, mayors and county officials are asking legislatures, ...

Panel hits U.S. government over American Swiss bank account holders

Feb 26, 2014

Panel hits U.S. government over American Swiss bank account holders

Billions of dollars in U.S. taxes are going unpaid because Americans are exploiting Swiss bank accounts, and the U.S. government has failed to aggressively pursue Switzerland’s second-largest bank, a Senate investigation has found. The bank, Credit Suisse, has provided accounts in Switzerland for more ...

Jan 22, 2014

Report links China elite to tax havens

Relatives of China’s president and other business and political leaders are linked to companies in offshore tax havens that “helped shroud the Communist elite’s wealth,” a U.S.-based journalism group says.

U.S. Senate easily passes $1.1 trillion spending bill

Jan 17, 2014

U.S. Senate easily passes $1.1 trillion spending bill

Congress sent President Barack Obama a $1.1 trillion spending bill Thursday, easing the harshest effects of last year’s automatic budget cuts after tea party critics chastened by October’s partial shutdown mounted only a faint protest. The Senate voted 72-26 for the measure, which cleared ...

Jan 16, 2014

Hollande's reforms find favor in Germany

Germany on Wednesday welcomed the beleaguered French president’s “courageous” plan to spur the economy as a rapprochement toward its own approach, but analysts were skeptical about real change. Foreign Minister Frank-Walter Steinmeier, a Social Democrat in conservative Chancellor Angela Merkel’s right-left “grand coalition,” said ...

Jan 9, 2014

EU reduces allowances for carbon

It will become more expensive for businesses in the European Union to burn fossil fuels this year after the 28-country bloc decided Wednesday to beef up its carbon trading system. The agreement ended a year of bickering over how to amend Europe’s prime tool ...

Spaniards call for abdication

Jan 9, 2014

Spaniards call for abdication

Once almost taboo, Spaniards are now talking seriously about a possible abdication by 76-year-old King Juan Carlos as he battles a string of health woes and his youngest daughter fights a corruption scandal. The monarch, widely respected for guiding Spain to democracy after Gen. ...

Legalizing marijuana gains momentum

Jan 3, 2014

Legalizing marijuana gains momentum

Marijuana enthusiasts are counting on more U.S. states to follow Colorado in legalizing the drug, but opponents said Thursday the fight over pot is far from over. The Rocky Mountain state made drug history on New Year’s Day with the inauguration of retail sales ...

Senate passes deal to avoid new shutdown

Dec 19, 2013

Senate passes deal to avoid new shutdown

Congress declared a holiday truce in the budget wars Wednesday, sending President Barack Obama a blueprint for funding the government through 2015. But the next skirmish was already on the horizon: an election-year fight over the national debt. The budget deal that passed the ...