Dayton: Cuts, taxes needed to close budget gap Gov. Mark Dayton said spending cuts in all departments are being considered to fill the state's just-announced budget gap, but he said the deficit shouldn't be solved with cuts alone, and new tax revenues should be part any legislative package moving forward.7:20 a.m.
Obama, Business Roundtable Disagree Over Taxes
President Obama is lobbying the CEOs of the nation's largest companies to support him as he tries to reach a budget deal with Republican lawmakers. The president met Wednesday with members of the Business Roundtable. The group urges the extension of Bush-era tax cuts for everyone, including the wealthy.
What Should The U.S. Learn From Europe's Woes?
As President Obama and lawmakers try to find a formula for spending cuts and tax increases, they might look across the Atlantic for insights from those who have been wrestling with budget problems. The first lesson from Europe's "fiscal consolidation" experiences: It will hurt.
Arab Spring Provides Opportunities For Al-Qaida
The Pentagon's top lawyer has talked about how the U.S. would deal with terrorism after al-Qaida's core was defeated. But experts say the talk is premature. The Arab Spring has helped al-Qaida affiliates proliferate over the past year. And while they might not be able to pull off large scale attacks, they are still a very real threat.
Why No One's Going To Timbuktu These Days
The coup in Mali earlier this year and occupation of the north by al-Qaida affiliates have devastated the economy, especially the tourism sector, the country's third-largest revenue generator. Tourist arrivals have plummeted, and all Malians, from river guides to tailors, are suffering.
Satellite Colleges Setting Up Shop In Phoenix Suburbs
Phoenix suburbs are becoming a magnet for small universities. Five schools — Benedictine, Albright, Wilkes, Upper Iowa and Westminster — have announced plans for satellite campuses in downtown Mesa. And at least three more are coming to Peoria.
Prize-Winning Architect Niemeyer Dies At 104
Oscar Niemeyer, the Pritzker Prize-winning architect, was known for some of the world's most famous modernist buildings, including the crown-shaped cathedral in Brazil's capital Brasilia. He was 104.
Jazz Legend Dave Brubeck Dies At 91
For millions of Americans who came of age in the 1950s, Dave Brubeck was jazz. He died Wednesday morning, the day before his 92nd birthday, in Norwalk, Conn. The cause was heart failure.
British Bank To Settle With U.S. Regulators
Standard Chartered says it expects to pay around $330 million to the U.S. to settle a case with regulators who accuse the bank of failing to comply with sanctions against Iran. Standard Chartered has already paid out $340 million to the state of New York on the same claims.
Citigroup To Cut 11,000 Jobs
Banks have been under increasing pressure to cut costs and eliminate redundancies. The cuts will eliminate about 4 percent of Citi's workforce.