Skymark fears doom over Airbus A380 cancellation penalty

Aug 1, 2014

Skymark fears doom over Airbus A380 cancellation penalty

Skymark Airlines Inc., Japan’s third-largest carrier, said it’s at risk of going out of business should it have to pay Airbus Group NV a penalty after the planned purchase of six A380 superjumbos fell through. There is “material uncertainty” over whether the company will ...

Argentina won't submit to 'extortion' on debt to U.S.

Jun 17, 2014

Argentina won't submit to 'extortion' on debt to U.S.

Argentina’s president is refusing to go along with a U.S. judge’s ruling requiring a $1.5 billion repayment of defaulted bonds, even though the U.S. Supreme Court rejected her government’s appeals and left the order in place. In a national address Monday night, Cristina Fernandez ...

Detroit rolls dice on casino-led comeback

Jun 9, 2014

Detroit rolls dice on casino-led comeback

by Tim Reid and Michael Erman

Detroit’s reliance on casino cash to help fund a recovery from the city’s historic bankruptcy is a high-risk bet on an increasingly shaky source of income. A trial to approve Detroit’s plan to exit its $18 billion bankruptcy, the largest municipal crash in U.S. ...

Jun 9, 2014

EU eyes using vice to boost economies

European governments are turning their attention to prostitution, drugs and contraband as possible ways of boosting their economic growth profiles, as they struggle away from their debt crises. Italy caused a stir when it announced last month that it would begin including revenues from ...

Apr 5, 2014

Host clubs: a hotbed of human trafficking

by Jake Adelstein

The Japanese host. You can see them on the streets of Tokyo’s Kabukicho: the dapper thin men with colored, blown-dry hair, fake suntans, snazzy suits and charming smiles, chatting up passing females and trying to get them to come and have drinks. They’ve been ...

Detroit project creates 'blank canvas'

Mar 31, 2014

Detroit project creates 'blank canvas'

The families of Detroit’s Brightmoor area are delighted that bulldozers will soon level more of their neighborhood. After that, their community’s future will be like the cleared landscape — a blank canvas. For years, Brightmoor residents pleaded with the city to demolish vacant homes ...

White House: Stimulus bill was key to U.S. recovery

Feb 18, 2014

White House: Stimulus bill was key to U.S. recovery

The costly $787 billion spending bill that President Barack Obama signed into law soon after taking office boosted the economy and helped avoid another Great Depression, the White House said in a status report on Monday’s fifth anniversary of the law’s enactment. Republican leaders ...

U.S. Senate clears debt limit measure for Obama

Feb 13, 2014

U.S. Senate clears debt limit measure for Obama

Must-pass legislation to allow the U.S. government to borrow money to pay its bills cleared Congress Wednesday for President Barack Obama’s signature, staving off a debt default that could have rattled financial markets and spiked interest rates. The Senate approved the measure by a ...

U.S. debt ceiling hike clears House, heads to Senate

Feb 12, 2014

U.S. debt ceiling hike clears House, heads to Senate

U.S. Republicans capitulated Tuesday to President Barack Obama’s call to extend the nation’s borrowing authority with no strings attached, dialing back the threat of an election-year fiscal showdown. The House of Representatives narrowly approved a measure to suspend the U.S. debt ceiling until March ...

Railroading debt into Laos

Feb 8, 2014

Railroading debt into Laos

by Nick Walker

The first time I decided to fly to Vientiane, I was faced with a tossup between a Lao Airlines twin-prop or Aeroflot Soviet Airlines. During the Cold War, when Laos was Southeast Asia’s “hermit kingdom,” these alternatives were literally the only two ways in. ...