France's President Nicolas Sarkozy (R) and Germany's Chancellor Angela Merkel attend a joint press conference after crisis talks with Greece's Prime Minister on the eve of a G20 summit of major world economies in Cannes, November 2, 2011. REUTERS/Charles Platiau

Top officials consider forming a core euro zone

BRUSSELS - German and French officials have discussed plans for a radical overhaul of the European Union that would involve establishing a more integrated and potentially smaller euro zone, EU sources say.  Full Article | Video 

Wall Street tumbles as euro zone wavers 4:08pm EST

NEW YORK - Wall Street tumbled on Wednesday in its worst day since August, as a spike in Italian bond yields signaled the European debt crisis was getting worse. | Video

Greek Prime Minister George Papandreou waves to reporters as he arrives at the presidential palace in Athens November 9, 2011.. REUTERS/Yiorgos Karahalis

Deal on new Greek prime minister collapses

ATHENS - A deal on forming a Greek national unity government collapsed as the country headed toward an economic abyss, hours after outgoing Prime Minister George Papandreou said he was handing over to a coalition that does not exist.  Full Article 

Representative Phil Gingrey (R-GA) (L) attends a hearing of the House Subcommittee on Oversight and Investigations on Capitol Hill in Washington, in this September 22, 2011 file photo.

The congressman with banks on the side

ELLIJAY, Georgia - Rep. Phil Gingrey, representing Georgia's 11th congressional district since 2003, is regarded as one of the most conservative lawmakers in the chamber. He's also a banker, and that career isn't going so well.  Full Article 

Supporters of Iranian President Mahmoud Ahmadinejad wave flags during his speech in Shahrekord in Chahar Mahal and Bakhtiari province, 521 km (326 miles) southwest of Tehran, November 9, 2011. REUTERS/President.ir/Handout

West seeks Iran sanctions over nuclear report

PARIS/MOSCOW - Western leaders called for expanded sanctions against Iran over a U.N. watchdog report that it has worked to design atom bombs, but veto-wielder Russia indicated it would block new measures at the U.N. Security Council.  Full Article | Video 

Olympus Corp's President Shuichi Takayama reacts at a news conference in Tokyo November 8, 2011. REUTERS/Toru Hanai

Olympus losses may have exceeded $1 billion

TOKYO - Losses on securities investments at the core of a scandal rocking Japan's Olympus may have once exceeded $1 billion, as the 92-year-old firm's share price plunged due to doubts about its future.  Full Article | Video 

Adobe CEO Shantanu Narayen speaks at the Samsung keynote address on the opening day of the Consumer Electronics Show (CES) in Las Vegas January 6, 2011.  REUTERS/Rick Wilking

Adobe admits defeat to Apple over Flash

Adobe Systems is halting development of its popular Flash Player for use in mobile browsers, essentially admitting defeat to rival Apple Inc in a long-running battle over Web standards.  Full Article 

James Murdoch appears before a parliamentary committee on phone hacking at Portcullis House in London July 19, 2011.  REUTERS/Parbul TV via Reuters Tv

James Murdoch faces a day of reckoning

NEW YORK/LONDON - James Murdoch appears today before a special committee of Britain's parliament for a second round of questioning about a phone-hacking scandal at his company's now-defunct News of the World tabloid.  Full Article | Video 

A women looks over the letter from her insurance provider at her home in Louisville, Kentucky, April 21, 2010.   REUTERS/John Sommers II

When to skip your employer's health plan

WASHINGTON - If you're in a job that has a good health-care plan, it's usually a good idea to sign up. But sometimes, buying your own coverage makes sense. Here are some considerations about when you may want to do that, and how to go about it.  Full Article 

A widow works on a sewing machine at her house in Baghdad's Sadr city October 23, 2011. REUTERS/Kareem Raheem

The daily struggle of Iraq's widows of war

BAGHDAD - Halima Dakhil lost her husband in the sectarian slaughter that engulfed Iraq after the U.S. invasion in 2003 and now spends her days tearful and scared, knowing her $250 monthly wage won't pay the rent and feed five children.  Full Article 

Asian stocks up on Italy reform hopes

Nov. 9 - Asian shares rally after the Italian Prime Minister said he would resign, while China's inflation data soothes fears about the health of the world's second biggest economy. Arnold Gay reports.

David Cay Johnston

You’re paying taxes, so why aren’t energy companies?

Energy utilities and pipeline partnerships, all of them legal monopolies, pass their income tax burdens on to customers. Now a study provides powerful new evidence that these industries convert their income taxes from a burden to a benefit.  Full Article | Video 

Edward Hadas

Can financial greed be contained?

Greed lurks wherever people are found. But in most parts of the economy, higher aims keep greed in check. Financial greed is not merely tolerated; it is lauded. And financial regulation aims at making the game fair, not encouraging moderation among the players.  Full Article 

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