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IMF will contribute 1 billion euros to Cyprus bailout

Christine Lagarde

The International Monetary Fund will contribute 1 billion euros ($1.29 billion) over three years to the 10 billion euro bailout for Cyprus, IMF Managing Director Christine Lagarde said in a statement on Wednesday.

 

U.N. overwhelmingly approves first-ever global arms trade treaty

Arms Treaty - Reuters

The 193-nation U.N. General Assembly on Tuesday overwhelmingly approved the first-ever treaty on global arms trade that seeks to regulate the $70 billion international trade in conventional arms ranging from light weapons to battle tanks and warships.

 

Banks made $32 billion on overdraft fees last year

Bank customers may complain about hefty overdraft fees, but they’re using the service more and paying the price. A new report from Moebs Services, a respected economic research firm, shows overdraft revenue at banks, credit unions and thrift institutions totaled $32 billion last year. That’s an increase of $400 million or 1.3 percent from 2011.

 

Facebook's Mark Zuckerberg faces $1 billion tax bill

Mark Zuckerberg - CNN

Facebook's stock market debut left founder and CEO Mark Zuckerberg with a paper fortune currently valued at $13 billion -- and a 2012 tax bill of around $1.1 billion.vZuckerberg's whopping tax hit stems from his move last May to increase his stake in Facebook. On the day of Facebook's initial public offering, Zuckerberg exercised a stock option and purchased 60 million Facebook shares at a "strike price" of 6 cents each.

 

Producers Wants Sam Mendes Back for Future James Bond Movie

Sam Mendes

Skyfall is the highest grossing James Bond movie ever with over $1 billion in global ticket sales, so, obviously, the producers want to bottle whatever happened in that movie and hope for lightning to strike again. This includes having Sam Mendes back to shepherd the project. But due to his other obligations, like his theatrical productions, he won't be able to take on Bond 24, even if he wanted to. The question is, does he want another go at the Bond franchise?

 

Airlines raise 2013 profit outlook

The International Air Transport Association credits "a backdrop of improved optimism for global economic prospects" for raising expectations above its previous forecast of $8.4 billion in profits for this year.

 

Billions needed for asteroid defense?

If scientists detected a major asteroid headed for Earth now, it would take at least five years and billions of dollars to develop an effective defense system to either alter its course or destroy it, scientists say.

 

Clergy sex abuse settlements top $2.5 billion nationwide

Clergy Sex Scandal

There have been nearly 17,000 victims of clergy sexual abuse since 1950 and legal settlements for their suffering continue to climb. Add another $10 million to the $2.5 billion that the Catholic Church in the USA has spent in confronting the clergy sex abuse crisis.

 

Banks saved, but Europe risks "losing a generation"

Europe has spent hundreds of billions of euros rescuing its banks but may have lost an entire generation of young people in the process, the president of the European Parliament said.

 

Made in the USA: More consumers buying American

A curious thing is happening among American shoppers. More are checking labels and asking, "Is it 'Made in the USA?'" Walmart, the nation's largest retailer, earlier this year announced it will boost sourcing of U.S. products by $50 billion during the next 10 years. General Electric is investing $1 billion through 2014 to revitalize its U.S. appliances business and create more than 1,500 U.S. jobs.

 

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