Aug. 2: the day of debt reckoning. According to President Obama, the U.S. will default on its obligations that day if Congress does not raise the debt ceiling. With this debt-ocalypse just under a month away, one begins to think about what would happen if Americans wake up that morning to find Congress still deadlocked.
Annie Lowrey, business reporter for Slate, imagines a worst-case scenario.
The economy is still on the road to recovery, but CEOs seem to be doing just fine. A new study reveals the median pay for a CEO at a top-200 company last year was $10.8 million, up 23 percent in just a year. P.J. Joshi of The New York Times discusses why CEOs get the ever-bigger bucks while most workers are barely staying even.
Egyptian companies and multi-nationals are now using images of and references to the youth-led uprising that toppled autocrat Hosni Mubarak in advertisements to sell internet service, mobile phones, soft drinks, tourism and more.
The marketing has sparked something of a backlash among young Egyptians and has contributed to a rise in politicized street art and graffiti. Some street artists hope to reclaim the message in the streets by breaking the taboo of criticizing Egypt's military rulers.
The Pacific Northwest is suffering from too much of a good thing — electricity. It was a snowy winter and a wet spring, and there's lots of water behind the dams on the Columbia River, creating an oversupply of hydropower. As a result, the region's new wind farms are being ordered to throttle back — and they're not happy.
Prefer your fish from the ocean? That habitat is becoming a less hospitable place every day, according to a recent international State of the Oceans report. Water is getting warmer, more acidic. Dead zones are growing. A mass extinction of certain fish and coral species could happen sooner than scientists previously thought.