The number of millionaire households in the U.S. declined in 2011, according to this year's Global Wealth Study from the Boston Consulting Group. It found the number of American households with a million dollars of investable assets shrunk by 2.5 percent.
The announcement reverses a company statement last year that said it had no plans for new chemical factories in the United States. According to Reuters, decades-low natural gas prices made the move too enticing to pass over.
The unemployment in Michigan is dropping as the auto industry rebounds, and the state has a budget surplus for the first time in many years. But many local leaders say they're not seeing a comeback. They believe state leaders are helping themselves — and the business community — at the expense of the well-being of cities.
A five-year, $10 billion expansion in Port Arthur, Texas, has created the largest refinery in the country. But because the U.S. has become a net exporter of gasoline and the facility will contribute to that trend, analysts say the project won't have a big impact on national fuel prices.
The president of the European Central Bank warned Thursday that the set-up of the European currency is unsustainable. In some of the harshest remarks by a senior European official to date, Mario Draghi criticized the vacuum resulting from the lack of action by European governments.
After watching Greece from afar, many Spaniards feel that they could be next in line for a costly bailout. Spain will have to pay $40 billion in interest this year alone. Unemployment tops 24 percent and is rising.
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