The City Council in San Bernardino, Calif., voted Tuesday night to seek Chapter 9 bankruptcy protection, making it the third California city in less than two weeks to make the rare move. The city faces a $45 million budget shortfall.
Multi-generational families living in the same household in Spain is nothing new. But as a quarter of Spanish workers are out of work, and half of its young adults are struggling to find a job, relatives can rely on one earner, with government assistance, to get by the country's economic woes.
Despite the persistence of the European financial crisis, the euro has held up relatively well since the crisis began. While the currency has lost some value against the dollar, its performance has defied ongoing speculation that the currency union is doomed. But can it last?
As governors weigh whether to participate in an expansion of Medicaid under the federal health law, some worry the change could attract people who don't qualify for a special subsidy. Adding them to Medicaid rolls could strain states' budgets.
Executives from the BlackBerry maker Research In Motion (RIM) were grilled Tuesday by investors over the company's recent dismal performance. RIM has announced massive layoffs and its shares are trading at a nine year low. With the launch of the BlackBerry 10 delayed until next year, RIM's survival is considered to be at stake.
Bargain-seeking investors known as "vultures" are circling Madrid, hoping a shakeout of the banking sector will yield deals at rock-bottom prices. As a condition of Spain's bailout, banks need to get rid of toxic assets such as devalued properties — even if it means taking a loss.
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