British officials unveiled plans Thursday morning to sell the majority of its centuries old postal service. It's the largest privatization of a government service the country has seen in decades. The public offering of the world's oldest postal service would take place in the coming weeks.
Mexico's president has unveiled a major shakeup of the country's tax system. His administration says it's aimed at capturing more of Mexico's paltry tax collection. Critics say it's unfairly targeting the middle class. Among the items slated for taxing: dog food and private school tuition.
Victor Willis has finally won a share of the income from his most famous song. The New York Times reports Willis, you know him as the police officer, has emerged from six years of legal wrestling with a new copyright in hand. The victory gives him substantial control over "YMCA" and 32 other Village People tunes.
A federal judge in San Francisco on Thursday hears arguments over a radical plan to stem the foreclosure crisis. The City of Richmond is proposing to buy underwater mortgages in order to help keep local residents in their homes. If banks don't want to sell those mortgages, the city says it is prepared to invoke eminent domain to seize the mortgages.
International Paper will close a mill in Courtland, Alabama, that employs more than 1,000 workers. The company blamed a decline in the demand for paper products in the U.S. for the decision. It said the shutdown will be completed in about six months.
In 2011, Gov. Scott Walker signed a bill stripping collective bargaining rights from most public employees, sparking massive protests at the state Capitol. While most demonstrators eventually went away, a small group did not.
Long before smart watches became the latest pursuit for tech companies, Gordon Moore of Intel was experimenting with wristwatch computers. Intel's co-founder and his colleagues built a line of chip-powered watches in the late '70s. The concept was visionary, but the business was a failure. Moore now keeps a memento that he calls his "$15 million watch."
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