For months gold had been on a fantastic run, but last week gold prices plunged 9.6 percent, and then Monday another 2 percent, to $1,600 an ounce. Investors usually consider gold a safe bet, but they may not think of them that way anymore.
A single map inside the latest edition of the well-respected "Times Atlas of the World" has caused friction between the cartography world and the scientific community. A map of Greenland in the book shows that the country has considerably less landmass than ever before. Harper Collins, which prints the "Times Atlas," recently circulated a press release that said Greenland had lost more than 15 percent of its coastline after nearby glaciers melted, thanks to global warming. Scientists say that number is incorrect.
August's Gallup poll numbers showed that 41 percent of American adults approve of the way Obama is currently handling his job, an all-time low for the President. And some of the most significant declines in approval come from Latino voters — a group that was formerly solidly supportive of the President.
Hewlett-Packard announced on Wednesday that Meg Whitman would replace Léo Apotheker as chief executive. Whitman is the former chief executive of eBay, who made a failed bid for the governorship of California last year. Hewlett-Packard's decision shocked many people in the business world.
A last minute appeal to the U.S. Supreme Court was not enough to save Troy Davis. The Georgia inmate was executed for the murder of a Savannah police officer, despite serious doubts about the evidence against the 42-year-old. Davis's case gained the support of hundreds of thousands of followers, including former President Jimmy Carter, Archbishop Desmond Tutu, former Republican presidential candidate Bob Barr, and celebrities like Sean Combs and Cee-Lo Green.
Two major announcements hit Wall Street and Washington on Wednesday. The Federal Reserve unveiled its plan to invest $400 billion in Treasury securities in an effort to boost the economy, and Moody's downgraded the ratings of Bank of America, Citigroup, and Wells Fargo. How is all of this going to affect consumers and businesses? And how is divided Washington going to react?
Faced with an uphill reelection battle and a disenfranchised base, President Obama indicated on Monday that he plans on taking a harder line against an anti-tax GOP. In a speech introducing his debt reduction plan yesterday, Obama vowed to veto any plan Congress sends him that does not raise taxes on the wealthy and corporations while cutting Medicare benefits. "I will not support any plan that puts all the burden for closing our deficit on ordinary Americans," Obama said. Obama's plan, which will reduce annual deficits up to $4 trillion over 10 years, has been assailed as "class warfare" by Republicans.
Yankees relief pitcher Mariano Rivera had arguably the most important moment of his career yesterday, in a game aginst the Minnesota Twins, when he surpassed Trevor Hoffman as the major league career leader in saves with 602. Rivera has been the Yankees' closer since 1997, so this milestone has been 15 years in the making.
The Supreme Court granted a stay of execution on Thursday for Duane Buck, a Texas man who has sat on death row for the past 16 years. Buck's guilt is not in question. He was convicted for killing his former girlfriend and another man in 1995. But Buck, a black man, was sentenced by a jury who heard expert testimony from a psychologist who said black people pose a of violently reoffending when released from prison. Gov. Rick Perry, who was cheered on at a GOP debate for the 234 inmates executed in Texas under his watch, has been asked to review the case.
Over the past twenty-four hours, we’ve learned more about the rogue trader that lost the Swiss bank UBS $2 billion. It turns out that the trader, Kweku Adoboli, had the same job at UBS as Societe Generale's Jérôme Kerviel, whose fraudulent trading cost the bank €4.9 billion in 2008. How does this happen, and what is it that drives these traders to commit fraud?
Minnesota Congresswoman and presidential contender Michele Bachmann continues to draw criticism, after making remarks this week that the HPV vaccine is dangerous for young girls. Speaking with Matt Lauer on NBC's "Today Show," Bachmann said that a woman on Florida told her that her daughter had received the vaccine, and "suffered from mental retardation after." Public health advocates are encouraging Bachmann to provide proof of this story. And two bioethics professors have upped the ante, offering to pay more than $10,000 for medical records that prove the anecdote is true.
Bank of America confirmed on Monday that it plans to cut at least 30,000 jobs from the company, and eliminate $5 billion in costs annually by 2014. The banking behemoth currently employs 288,000 people. The first group of employees to be eliminated will be those working in consumer banking operations, and home loans, technology and support operations.
Eight members of the Bahai'i religious minority are awaiting trial in Iran, after organizing the Baha'i Institute for Education, a place where dismissed professors teach Baha'i youth as volunteers. The Iranian government recognizes the Baha'i community as a political organization, rather than a religious group, and declared the center illegal.
The events of September 11, 2001 amounted to unfathomable costs, in terms of lives and families forever torn apart, not to mention the physical and emotion after effects that continue to haunt the survivors of 9/11. In addition to that, there was an economic cost to 9/11 — one that is almost equally unfathomable.
Last night, as President Obama was giving his jobs speech, federal authorities were confirming reports that there is a specific, credible terrorist threat for the New York City and District of Columbia areas this coming weekend. Counterterrorism officials are investigating a possible truck bomb, and New York City mayor Michael Bloomberg said in a press conference last night that he would increase security in the city, and that residents should keep their "eyes wide open."
Football fans have waited all year for tonight. The defending champions, the Green Bay Packers will face off against the New Orleans Saints, the Super Bowl champions of 2009. For serious football fanatics, that means fantasy football is starting up too, and the draft finished up last night.
In advance of tomorrow night's Republican presidential debate — the second for GOP candidates hoping to run in the 2012 election, and first for Texas Gov. Rick Perry — former Massachusetts governor Mitt Romney unveiled a plan to boost economic growth, in a speech yesterday in Las Vegas, Nevada. It hasn't seemed to boost his standing yet — a new poll shows Perry in the lead over Romney and other GOP candidates.
As politicians in Washington debate ways to revamp of sagging economy, a look at the life of a man who made tremendous contributions to the global economy back in the 1950s. Keith Tantlinger, inventor of the first viable shipping container (antiquated versions had been in use since the 19th century), died at age 92 last week. Tantlinger was an inventor who was hired by a man named Malcolm McLean to envision a more streamlined and standardized system for shipping goods overseas. His modern version of the shipping container, with twist locks, revolutionized global trade.
Since FBI translator Shamai Leibowitz was sentenced to 20 months in prison after pleading guilty to leaking information to a blogger, the case has been shrouded in mystery. Even the judge trial didn't know what information Leibowitz had divulged. Over a year later, it is now known that Leibowitz acquired secret transcript of wiretapped conversation from the Israeli Embassy and passed them on to a blogger named Richard Silverstein. The case is the Obama administration's first successful prosecution over the leaking of classified information to the media.
President Obama's jobs speech is already shrouded in partisan controversy, after the president attempted to schedule his talk for 8 p.m. on Wednesday, September 7 — the same date as the second debate for GOP presidential candidates. House Speaker John Boehner asked Obama to reschedule, and Obama complied, changing the date for the speech to September 8. Could this be a preview of future party wars over the jobs agenda?