Hillary Clinton, President Barack Obama’s Secretary of State, has been in discussions with the White House about stepping down from her foreign policy job next year to becoming head of the World Bank, it has been reported.
US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is “quite open” to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.
Big picture Technologist Raymond Kurzweil has a radical vision for humanity’s immortal future
Photo-Illustration by Ryan Schude for TIME
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On Feb. 15, 1965, a diffident but self-possessed high school student named Raymond Kurzweil appeared as a guest on a game show called I’ve Got a Secret. He was introduced by the host, Steve Allen, then he played a short musical composition on a piano. The idea was that Kurzweil was hiding an unusual fact and the panelists — they included a comedian and a former Miss America — had to guess what it was.
Thetrading floor of the Frankfurt stock exchange, in a file photo.
Credit: Reuters/Kai Pfaffenbach
Deutsche Boerse and NYSE Euronext’s plan to create the world’s largest stock and futures exchange has sent competitors around the world scurrying to find partners, accelerating an industry shake-up.
FRANKFURT — The operator of the Frankfurt Stock Exchange is in advanced talks to acquire the owner of the New York Stock Exchange, whose frenzied floor brokers have been a global symbol of capitalism for years.
China’s President Hu Jintao said Sunday the international currency system was “a product of the past,” but it would be a long time before the yuan is accepted as an international currency.
The euro currency area has only a one-in-five chance of surviving in its current form over the next 10 years because of competitive imbalances between its members, a leading British think tank said on Friday.
WikiLeaks sparks push for tighter controls.
“We’re talking about huge sums of money going to bail out large foreign banks,†said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be examined.â€
Republicans are assuming that cap-and-trade (aka cap-and-tax) is dead because Senate Majority Leader Harry Reid lacks the votes to bring up the House-passed bill and because this issue proved a loser in the 2010 House races. Like the famous Mark Twain saying, its death may be exaggerated.
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