The idea that government can revive an economy by spending billions or trillions of dollars is all the rage in Europe, as well as in the United States. It's a failed economic theory now making its way east to Russia, where officials fear the looming economic slowdown.
Butch Cassidy became a household name in 1889 after he galloped off with a $20,000 unauthorized withdrawal from the San Miguel Valley Bank in Telluride, Colo. In today's dollars, that's around $500,000. Modern thieves rely on stolen passwords and wire transfers to make bigger scores, such as the trio who were close to pilfering $300 million from Sumitomo Bank in London before they were caught.
What happens in Las Vegas stays in Las Vegas. Too bad you can't say the same for California.
The European Parliament, the elected legislative body of the European Union, voted on Tuesday in favor of a new law that caps bankers' bonuses and implements other financial-sector reforms.
Former Prime Minister Margaret Thatcher, who transformed Britain in the 1980s with a core of conservative convictions and history's most formidable handbag, died Monday of a stroke. She was 87 years old.
Former Prime Minister Margaret Thatcher was famous for her uncompromising political style and unapologetic embrace of bedrock British middle-class values. "The lady's not for turning," she once famously remarked in a political debate.
The EU's foreign policy chief says that nuclear talks between Iran and six world powers have failed to reach an agreement.
Barbed wire-topped walls stretch across the narrow, twisted streets of Nicosia's walled medieval city, where abandoned buildings extend across a no-man's land. On the other side, Turkish Cypriots have been watching with fascination — and consternation — as the economy of their long prosperous southern neighbors implodes.