Royal Dutch Shell can't pay the $1 billion it owes Iran because of sanctions imposed on the Middle East country by the United States and European Union. The sanctions have made it nearly impossible to transfer the money. Reuters reports that Shell is trying to wrap up its business dealings with Iran.
President Obama's pick to lead the World Bank is an unconventional choice with a background in global health and development. The current monetary group head has a trade and economic background. Jim Yong Kim currently serves as president of Dartmouth College.
Bank of America is reaching out to some distressed homeowners with a deal. They can stay in their homes, but as tenants. They would need to turn over the deed to the bank. Bank of America says it will help avoid foreclosures, but housing advocates don't like the plan.
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