US Treasury rules out creating $1tn coin

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The move ends speculation that the Obama administration would exploit an arcane loophole to avoid a possible crisis over the nation’s borrowing limit
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Drumbeat: January 12, 2013

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New Saudi refineries to reduce crude oil export cushion
DUBAI: Saudi Arabia’s drive to build new refineries means its maximum capacity to export crude, the big gun it aims at other producers wanting higher oil prices, is set to decline over the next …
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Greek parliament approves tax increases

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Taxpayers who fail to collect invoices matching 25% of their declared income will have to pay extra under a renewed drive by the finance ministry to reduce tax evasion
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(Image: Fotolia)

Eagle Ford drilling fuels income surge for all, despite recession

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Counties in the Eagle Ford shale saw an average increase in per capita income of 13.62 percent between 2008 and 2011, according to the Bureau of Economic Analysis. Texas as a whole saw an increase of 1.34 percent during that time period.

French hostage killed in Somalia rescue bid

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Fierce firefight as French intelligence services mounts helicopter raid to rescue captured agent from al-Qaeda-linked insurgents
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