Fiscal 2009 deficit at $957 billion, and rising
The federal budget deficit rose to a record $957 billion in the first six months of fiscal 2009. March government outlays increased 41 percent to $321 billion from March 2008, while revenue fell 28 percent to $129 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
23 banks seized by FDIC since January
The Federal Deposit Insurance Corp. seized two banks last week, raising to 23 the number of banks taken over since Jan. 1. The FDIC seized 25 banks during all of 2008.
Associated Press
Mars Inc. to tap new cocoa suppliers
Mars Inc. announced that by 2020, it would buy cocoa only from suppliers that meet strict environmental, labor, and production standards. The move both burnishes the company’s reputation for social responsibility and assures it a reliable cocoa supply.
The Washington Post
New York law firm pays lawyers to take a year off
In a novel cost-cutting move, the New York–based law firm Skadden, Arps, Slate, Meagher & Flom is offering its 1,300 associates one-third of their base pay to take the year off. Associate Heather Eisenlord plans to use her stipend of $80,000 to travel the world doing pro bono work.
The New York Times
Will gas prices keep rising?
The average price of a gallon of self-serve regular gasoline hit $2.05 last week, up almost 10 cents since the last survey, on March 20. Analyst Trilby Lundberg says prices could rise by about 3 cents per week for the next several weeks as demand intensifies.
CNNmoney.com
-
What to know before turning to AI for financial advicethe explainer It can help you crunch the numbers — but it might also pocket your data
-
Book reviews: 'The Headache: The Science of a Most Confounding Affliction—and a Search for Relief' and 'Tonight in Jungleland: The Making of Born to Run'Feature The search for a headache cure and revisiting Springsteen's 'Born to Run' album on its 50th anniversary
-
Keith McNally' 6 favorite books that have ambitious charactersFeature The London-born restaurateur recommends works by Leo Tolstoy, John le Carré, and more
-
The bottom linefeature Lean times for law school graduates; Hedge-fund manager to repay investors; Unemployment drops in the Rust Belt; Public pensions look worse than ever; Apples's underpaid store employees
-
The bottom line
feature In China, fuel costs rise again; Full-service restaurants gain favor; The future of business cards; States take the axe to taxes; New Jersey's strong anti-corruption laws
-
The bottom line
feature Mario Monti targets tax evasion; Ticketmaster settles lawsuit over fees; Putting a price on “The 12 Days of Christmas”; China takes a bite out of iPad
-
The bottom line
feature Bing captures 12.9% of market; OPEC cuts oil exploration and production; Metal prices soar; GM to end 62-year presence in Delaware; Airlines improve flight arrival times