President Obama is hosting European Union leaders at the White House for this year's US-EU summit. Dominating discussions will be the issue of the European debt crisis. Eighteen months into its sovereign debt crisis, Europe is running out of time to find a real solution, and fears of contagion are growing.
Over the weekend, U.S. retail sales climbed 16 percent, hitting a record total of $52.4 billion, according to the National Retail Federation. The average shopper spent $398.62 during the holiday weekend. Despite these promising retail numbers, other economic indicators aren't as positive this week.
Former journalist and human rights activist Sherry Rehman has been named as Pakistan's new ambassador to the United States. Rehman will replace Husain Haqqani, who resigned amid accusations he was involved in an effort to engage the U.S. to curb the Army's powers in Pakistan. Haqqani allegedly sent an anonymous memo sent to Admiral Mike Mullen after the raid that killed Osama bin Laden in Pakistani in May. The memo requested Washington’s help in diminishing the power of the Pakistani army. In recent days, a Pakistani-American businessman has said he was instructed to write the memo by Haqqani.
The Congressional "super committee" failed to reach a consensus about deficit reduction. But given a chance to tinker with the budget, ordinary Americans playing an online computer game called Budget Hero have made some big decisions. Users make decisions about spending in areas like defense, health care, Social Security, education and infrastructure and can see the effects.
Three years ago this week 10 gunmen lay siege to the city of Mumbai. They arrived by boat from Karachi, Pakistan and for for three days, they launched a series of attacks on two 5-star hotels, a train station and a small Jewish hostel. A total of 166 people were killed, and more than 300 were injured. The mastermind behind the attacks, called India's 9/11, was an American citizen named David Headley, who spent more than two years mapping out targets and creating a plan for the attacks.
On Friday, the FDA ruled that cancer drug Avastin should not be used to treat breast cancer because Avastin’s risky side-effects outweigh its benefits for breast cancer patients. "Women who take Avastin for metastatic breast cancer risk potentially life threatening or serious side-effects, such as heart attacks or heart failure, severe high blood pressure, bleeding or hemorrhaging," FDA Commissioner Dr. Margaret Hamburg said.
Perhaps the most common trade-off for working parents is the inability to give their kids home-cooked meals—even if they work in food service. John Besh, a working dad and James Beard award-winning chef who runs eight acclaimed restaurants, has written a book about his experiences trying to fix the gap between the food he prepares in his home and at work.
The Egyptian army used teargas, rubber bullets and birdshot in clashes with protesters in Cairo over the weekend. Parliamentary elections are scheduled to begin in stages a week from today — but this violence raises questions about whether free, democratic elections are possible at this time in Egypt.
Video of UC Davis students being pepper sprayed in a protest related to Occupy Wall Street over the weekend has gone viral. Without any apparent provocation, campus police released a stream of pepper spray onto a row of seated protesters. Two of the officers involved in the spraying have been placed on leave. The incident has left many wondering why the police reacted this way and what can be done.
Tumblr CEO David Karp and Maria Pallante, United States Copyright Office director, join The Takeaway for two very distinct views on the Stop Online Piracy Act. The bill's stated purpose is to shut down websites that host or post pirated material and counterfeit goods. Hearings on bill began earlier this week in the House. Another version of the bill, called the PROTECT IP Act, already passed in the Senate.
For many Americans, keeping a foothold in the middle class is very difficult. A recent report by the Economic Mobility Project of the Pew Charitable Trusts finds that a third of Americans who are born in the middle class lose their middle class status as adults. Another Pew study notes that African Americans experience the most downward mobility — almost half of children born to middle income African American families fall to the bottom of the income ladder as adults.
A new study looks at four decades of census data from more than 100 of the country's biggest metropolitan areas. Researchers from Brown and Stanford University examined shifting family income levels within individual neighborhoods. They found that in the past 40 years, neighborhoods have shifted, creating larger areas of affluence and larger areas of poverty as middle-income neighborhoods shrink.
The damage in the Penn State sex abuse scandal continues to grow. At least 10 more alleged victims have reportedly come forward. Many of the alleged victims came from former assistant Penn State coach Jerry Sandusky's Second Mile foundation, a program he started for at-risk youth. Thomas Day attended the Second Mile foundation when he was younger, and later volunteered with the group.
A New York State Supreme Court judge ruled Tuesday to uphold New York Mayor Michael Bloomberg's decision to evict the Occupy Wall Street protesters from their camp in Zuccotti Park. It was a setback that some worry the movement cannot recover from. Yet, protesters themselves remained upbeat yesterday claiming evictions will only make them stronger. But perhaps instead of quelling the movement as he intended, Bloomberg actually reinvigorated it.
In spite of a judge's ruling banning their tents and sleeping bags, several hundred Occupy Wall Street demonstrators returned to Zuccotti Park Tuesday night, after being removed by New York City police officers in a pre-dawn raid. After a day of legal wrangling, a state Supreme Court judge told protesters the city's concerns over health and safety justified banning overnight camping. First Amendment battles between city governments and protesters are taking place in courtrooms around the country — and sometimes, on the ground between police and protesters as well.
The fallout continues from the sexual abuse scandal that has rocked Penn State. Monday night Jerry Sandusky appeared on NBC to respond to the allegations against him. Yesterday the CEO of The Second Mile — the foundation Jerry Sandusky started in 1977 to mentor troubled youth — resigned. Meanwhile, the Big Ten Conference removed former Penn State coach Joe Paterno's name from a new championship trophy.
The upcoming NBA season is in jeopardy after players rejected the league's latest offer for a new labor deal on Monday. "After two years of making a genuine and concerted effort to try to close a collective bargaining effort with the league and our teams, we've come to the conclusion today that that process has not worked for us," NBA Players Association president Derek Fisher said. The players have now begun the process of disbanding the union, and filing an anti-trust lawsuit against the NBA owners.
In Syria, tens of thousands of government supporters poured into the streets of Damascus and other cities on Sunday to protest the Arab League's decision to suspend Syria's membership. Angry supporters of Syrian President Bashar Assad also attacked several embassies. In response to the unrest, Syria called for an emergency Arab summit.
This week, all of the Republican presidential candidates are back on the campaign trail. Former speaker Newt Gingrich, Texas Governor Rick Perry, and Representative Michele Bachmann will all visit Iowa. Meanwhile, former Massachusetts Governor Mitt Romney heads to Florida, and Cain will be in Wisconsin. President Obama travels to Australia, steering clear of the Congressional "super committee" as its deadline to shave $1.2 trillion from the U.S. budget grows near.
Penn State University has been in full-fledged crisis management mode this week. On Wednesday, football coach Joe Paterno and university president Graham Spanier were both removed from their positions. It was an attempt to answer criticism that the university and football program did not do enough to stop assistant coach Jerry Sandusky from sexually abusing young boys on camps over a span of 15 years.