Production of $1 coins cut
Due to a lack of demand, the U.S. Mint plans to curtail production of $1 coins and create only enough to satisfy collectors. The move will save taxpayers about $50 million a year—or about 15 minutes’ worth of the federal deficit.
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Russia joins the World Trade Organization
After 18 years of negotiations, Russia has been approved for admission to the World Trade Organization. Russia is the last major economy to join the trade body, which sets rules for global commerce and helps resolve disputes for its 154 members.
Reuters.com
Saab files for bankruptcy
It’s the end of the road for Saab. The struggling Swedish automaker, which stopped making cars last April, filed for bankruptcy this week after a proposed sale to Chinese investors fell through. General Motors, Saab’s former parent, blocked the sale over intellectual property concerns.
The Detroit News
Cost of global disasters hits a record
Global disasters cost a record $350 billion this year, according to Swiss Re. Japan’s tsunami and earthquake, Thailand’s floods, and severe tornadoes in the United States contributed to the record losses.
Agence France-Presse
Greece's changing rate of suicide
Three years ago, Greece had the lowest suicide rate in Europe. Today, it has the highest, which health experts attribute to the country’s economic crisis.
London Guardian
CEO pay rises
Compensation for CEOs of S&P 500 companies was up by a median of 36.5 percent in 2010. The top earner was John Hammergren, of health-care giant McKesson, who earned $145 million in 2010.
Los Angeles Times