Stock prices rebounded somewhat Wednesday, one day after their biggest sell-off of the year. What caused prices to plunge Tuesday was an all-too-familiar problem: the Greek debt crisis.
European officials have cobbled together a deal to keep Greece from defaulting, and investors all over the world who hold Greek bonds are weighing their options. They're worried about what could happen if they reject the deal.
Every May, Russia displays its military might in a parade on Victory Day, commemorating the surrender of the Nazis to the Soviet Union in World War II.
The marching men and rolling tanks put on an impressive show, but Russia's military, and especially its defense industry, has fallen on hard times.
"The industry, much like other parts of the economy, hasn't seen proper investment for over a decade, if not more," says Lilit Gevorgyan, a Russia analyst for the defense industry consultant IHS Jane's.
Spanish politicians spent $220 million on the sparkling new Castellon airport on Spain's Mediterranean coast — $40 million alone was spent on TV ads and other marketing. They also paid $600,000 for ferrets and falcons to kill birds that endanger aircraft.
Yet no plane has yet taken off. Construction, which began in 2004, went over budget, partly to fund a 75-foot statue of a local politician out front.