Baseball's most feared slugger has a new home. Star first baseman Albert Pujols has signed a monster 10-year, $250 million deal with the Los Angeles Angels of Anaheim. The deal has taken the sports world by surprise. Perhaps no one was caught quite so off guard as Pujols' old team, the world champion St. Louis Cardinals, where the three-time MVP spent more than a decade.
President Obama called for a shoring up of the country's middle class and criticized the concentration of wealth in the U.S. during a speech Tuesday in Osawatomie, Kansas. The town was the site of Theodore Roosevelt's famous "New Nationalism" speech, which, a century earlier touched upon many of the same themes as President Obama's address. But Obama's speech comes on the heels of the Occupy Wall Street movement, the GOP Primary, and the inception of his 2012 presidential campaign.
Standard and Poor's announced on Monday that it is considering a credit rating downgrade for both Germany and France, the euro zone's two biggest economies. The move takes place as euro zone countries meet in Brussels in an attempt to stop the ongoing crisis. The two countries currently have a top-notch AAA rating from the agency. Standard and Poor's said that 13 additional euro zone countries are also vulnerable to downgrade as a result of the continent’s economic crisis.
NASA’s Kepler mission has confirmed the discovery of a planet in the habitable zone of a sun-like star. A NASA researcher says the Earth-like planet would have a surface temperature around 70 degrees Fahrenheit. This makes it a so-called "Goldilocks planet" — not too hot, not too cold, just right to support life. Researchers have also measured the largest black holes yet. A team of UC Berkeley scientists have confirmed the discovery of the two biggest black holes yet to be documented. Each black hole is 10 billion times larger than our sun.
As a candidate in 2008, Barack Obama promised to improve the relationship between Washington and American Indian tribes. This year's meeting between the President and tribal leaders is the third such meeting, and comes with many Native Americans approving of the President's outreach effort to their community.
Despite high gas prices, the U.S. is set to become a net fuel exporter for the first time in 62 years. While the U.S. is still importing 8 to 9 million barrels of crude oil a day, it is exporting a greater amount of refined fuel and petroleum products. The spike in exports is primarily driven by an increased demand for fuel worldwide combined with declining consumption here at home. But is the nation's newfound role as fuel exporter a blip on the map or a sustainable trend?
Texas is in the middle of the worst drought on record in the state's history. Farm crops have been hit hard, and valuable grazing land has dried out, leading to heavy losses in the state’s valuable cattle industry. In total, Texas has suffered more than $5 billion in agricultural losses since the drought began.
It was only a few years ago the Bush administration labeled Myanmar "an outpost of tyranny." But on Wednesday, Hillary Clinton became the first secretary of state to visit the repressive and isolated nation in 50 years. The Obama administration has been keen on engaging with the military-backed civilian government of Myanmar after the country made some significant democratic reforms. In the past year, elections were held for a nominally civilian government, and pro-democracy leader Aung San Suu Kyi was released from house arrest after two decades. Yet even as changes take hold in Rangoon, persecution against the country's ethnic minorities continue.
"From the creator of 'I'm Running For Office for Pete's Sake' comes the story of two men trapped in the same body — Mitt versus Mitt." It sounds like a movie trailer, but it's really the latest political ad from the Democratic National Committee. The DNC is reportedly spending $22,000 to run the ad this week. Among the GOP presidential candidates, Rick Perry has already spent $2.8 million on advertising, Ron Paul has spent $2.1 million, Mitt Romney has spent $134,000, and Herman Cain has spent $78,900. But what kind of poll numbers does one TV spot really buy?
In the aftermath of the financial crisis, Wall Street executives tried to deflect the blame onto various culprits — government-sponsored enterprises like Fannie May and Freddie Mac for keeping interest rates low, consumers who lied about their credit history, or annual income. But Michael Lewis, former CEO of failed bank IndyMAC, isn't blaming consumers or investors. Lewis, who has been accussed of fraud and misleading investors, is pointing the finger at regulators.
Corporations all over America may be laying off employees, but many remain flush with cash. The New York Times reports in Tuesday's paper about an increasingly trend among American corporations. Instead of hiring more workers or investing in new growth opportunities, big companies are spending money on buying back their own stock. Louise Story, Wall Street and finance reporter for The New York Times, discusses why this is happening and what it means for the economy.
Since the Supreme Court's 2010 ruling in the Citizens United v. Federal Elections Commission case, 240 so-called Super PACs, or political action committees, have been registered with the FEC. Sixty of them alone have formed by Florida resident Josue Larose — a mysterious self-described millionaire and economist. Even his intentions are unclear. Larose has forms PACs such as Bloomingdale's Department Store Customers Super PAC, the NFL Sport Players Super PAC, and the Costco Store Customers Super PAC.
Disappointing many, but surprising few, the so-called Congressional "super committee" tasked with finding at least $1.2 trillion in deficit reductions announced it had failed to reach an agreement on Monday. Now, a wide range of spending cuts impacting everything from domestic to military programs will be implemented, which economists say will further hinder recovery. President Obama vowed to veto any legislation that attempts to undo the cuts. Both parties are snipping over who is to blame, though one private citizen's name keeps getting mentioned — Grover Norquist.
The week starts out on an ominous note as the Congressional "super committee" charged with reducing the national debt announces that they will not reach a deal. What went wrong during their negotiations, and where do we go from here? How will markets react? Also, the Euro crisis rages on as another government falls in Spain with the election of a new Conservative party. Finally, another GOP debate, the start of the holiday shopping season, and Thanksgiving traditions from Takeaway guests.
The pro-democracy movements that swept across the middle east, and in many ways defined the year, remain in pivotal stages. The Egyptian army has clamped down on protests in Cairo, burning tents and firing tear gas to drive out thousands of anti-military demonstrators. Meanwhile in Syria, the Arab League's ultimatum that called for an end to the violence in the country has expired. And Sunday marked the one-month anniversary of the death of former Libyan ruler Moammar Gadhafi.
Congressional approval in the U.S. is at embarrassingly low levels. A recent New York Times/CBS News poll found Americans' approval of Congress in the single digits. And a story that aired on "60 Minutes" last weekend is not likely to improve Congress's standing with the public. Insider trading is a crime in the U.S., but the laws that apply to most Americans do not apply to their lawmakers. According to the report, powerful members of Congress and their staffs have used their knowledge of privileged information to make vast sums of money in the stock market.
Since suffering a gunshot wound to the head in January of last year, Congresswoman Gabby Giffords and her husband, astronaut Mark Kelly, have largely shunned the spotlight. But now the couple is opening up about her recovery process in the new book "Gabby: A Story of Courage and Hope" and an interview with Diana Sawyer on ABC's "20/20."
The public got its first introduction to Gloria Cain, wife of Republican presidential hopeful Herman Cain, on Monday night in an exclusive interview with Fox News. The wife of the embattled candidate took to the airwaves to defend her husband against complaints of inappropriate behavior during his time at the National Restaurant Association.
With Silvio Berlusconi officially submitting his resignation this weekend, the Mario Monti era begins in Italy. The interim prime minister's first task will be to form a new government to enforce the country's recently approved austerity package to get the country's debt burden under control. But who is Italy's new leader? And will his new government be enough to prevent a further crisis in the euro zone?
A murder in Oakland, a rape in Philadelphia, and a TB outbreak in Atlanta. It has not been a good weekend for Occupy encampments across the country. Meanwhile, at the original camp in New York's Zuccotti Park, an illness that's being called the "Zuccotti lung" has broken out amongst protesters. With winter looming just around the corner, might this be the beginning of the end for Occupy Wall Street?