Coalition talks stall, Greece faces "moment of truth"
ATHENS - Greek political leaders ignored a final plea from the president to form a coalition government to avert a repeat election, pushing the debt-stricken nation closer to bankruptcy and a possible exit from the euro zone. Full Article
Ally Financial's mortgage unit nears bankruptcy: sources
NEW YORK - Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
Weary warriors favor Obama
A poll shows that among those who have served in the military during the past decade, 32 percent think the war in Iraq ended successfully, far more favor leaving Afghanistan, and Obama holds as much as a seven-point lead over Romney among veterans. Full Article
China growth risks signal need for fiscal action
BEIJING - China may need a back-up plan to stop economic growth being cut short by a surprise dip in demand at home and abroad that suggests monetary policy easing steps taken since the final quarter of last year are insufficient to deal with the downturn. Full Article
Tainted Mubarak legacy hangs over Egypt vote
CAIRO/LONDON - Egypt's generals effectively removed Hosni Mubarak to safeguard the country's system, not to promote revolutionary change. As the July 1 free presidential election approaches, reform has not touched pillars like the military and the judiciary. Full Article
U.N. walks fine line in refugee camp upgrades
BETHLEHEM, West Bank - The U.N.'s plan to upgrade Palestinian refugee camps' dilapidated facilities is designed to provide essential services. But for the Palestinians who live there, the plan must not be seen to undermine their "right to return." Full Article | Slideshow
Sipping, not guzzling, fuel on the front lines
FORT BELVOIR, Virginia - To sustain themselves on Afghanistan's front lines, U.S. troops have learned to conserve their fuel, which comes at a grim cost. But as outposts become fewer and further between, the challenge of sustainability is only increasing. Full Article
World's platinum lies amid African turmoil
JOHANNESBURG - The world's richest platinum veins lie along the political faultlines of South Africa and Zimbabwe, where income disparities, labor strife and political populism are fueling intense brands of resource nationalism. Full Article
Mother's Day behind bars
California locks up more women than any other state in the U.S. and three quarters are mothers. The children left behind with family or in foster care often feel abandoned and some don’t see their moms for years. Full Article | Slideshow
Abbas presses Israel over hunger strike prisoners
May 13 - Palestinian President Abbas says the possible deaths of hunger strikers in Israeli jails could lead to a "disaster no one would be able to bear" Deborah Lutterbeck reports
Latest Headlines
The strange vogue in dumping U.S. citizenship
Michele Bachmann’s fling with Switzerland lasted just 53 days before she came running back to Uncle Sam. That was just before Facebook’s co-founder Eduardo Saverin called it all off with the U.S., possibly for tax reasons. Full Article
JP Morgan: When basis trades blow up
After announcing a $2 billion trading loss in what was described as a hedging strategy gone bad, JPMorgan CEO Jamie Dimon said he should have better tracked “trading losses — and newspapers.” It wasn’t a joke. Once positions become public, the market smells blood. Commentary
Instagram's Facebook filter
Many see Facebook’s billion-dollar purchase of Instagram, given the social networking giant’s forthcoming IPO, as Mark Zuckerberg looking to boost mobile engagement. But even though Instagram may have had millions of users, it was really built for just one customer: Facebook. Commentary
Obama and the politics of party unity
For many Americans, supporting a party that advocates both their vested economic interests and their social preferences has become hard to do. Commentary
Break up the big banks
Our largest banks remain “too big to fail” and continue to defy regulation. Four Fed presidents have expressed concern over the concentration of assets in banking, and nearly half of Americans are worried. Smaller banks would be easier to regulate – and foster more competition. Commentary
Should we ditch the idea of privacy?
A growing number of people argue that the notion of having a private life in which we carefully restrict what information we share may not be a good idea. Instead, sharing our intimate, personal information with others would benefit us individually and society as a whole. Commentary
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Rubin: U.S. risks a new financial crisis
Former Treasury Secretary Robert Rubin states that the country's deficit may lead to some form of major duress like high inflation, a long period of very slow economic growth and, most likely, a serious financial and economic crisis. Video
- An explainer of JPMorgan's failed $2B hedge for non-financial humanoids
- What short-sellers mean when they say Chinese banks are "built on quicksand"
- A trader's reason for choosing his occupation: "actually, money is quite important"
- Ex-Greek econ minister: Bailout program "suicidal, not only for Greece but for the euro"
Featured
How the Corvair changed America
The Corvair made Ralph Nader famous in the 1960s, and its legacy helped elect George W. Bush decades after its demise. The car’s story is one of genius and hubris, not to mention unforeseen effects on America. Commentary | Slideshow
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