Microsoft's new CEO Satya Nadella is part of a wave of highly educated Indian immigrants who came to America a generation ago with expectations back home that they would succeed. Nadella has done just that and more, taking the reins of one of the world's top companies.
Greece has historically spent an outsized amount of its budget on military equipment — ostensibly to protect its border with historic rival Turkey. Between 2007 and 2011, Greece was Europe's largest importer of arms. But an ongoing investigation into the purchase of submarines has exposed high-level political corruption.
The nation's largest bank, JPMorgan Chase & Co., will pay $614 million and improve mortgage lending practices under a deal announced Tuesday to settle claims it approved thousands of unqualified home mortgage loans for government insurance and refinancing since 2002, costing the government millions of dollars when the loans defaulted.
A budget report estimates that about 2.5 million people will work fewer hours or not at all by 2023 because under Obamacare, they can get health care without holding down a full-time job. The news immediately became political fodder for critics of the Affordable Care Act.
The Senate Judiciary Committee spent the day looking into recent data thefts at Target and Neiman Marcus. Lawmakers know there is a big problem, but they are struggling with what role the federal government should play is creating new standards to safeguard consumer data.
Satya Nadella is just the third CEO in Microsoft's 39-year history. He's a Microsoft insider tasked with re-energizing the company and making it more relevant in a future likely to be dominated by mobile technology. As Nadella moves into his new role, he will be supported by Bill Gates, who is stepping down as chairman to become more involved with technology development.
Asbestos lawsuits have bankrupted scores of companies since the 1980s. In one case, a federal judge found that lawyers for people with a rare cancer linked to asbestos misled courts and made evidence disappear. The judge's decision could affect what other companies must pay victims in the future.
Ten pharmaceutical companies have agreed to cooperate with the National Institutes of Health in the hunt for new medicines to treat Alzheimer's disease, Type 2 diabetes, rheumatoid arthritis and lupus. All the scientific data produced by the venture will be shared publicly.
The Congressional Budget Office says the federal budget deficit in fiscal 2014 will shrink to $514 billion — far less than it was at the height of the Great Recession. While the short-term outlook is a bit brighter, the CBO says there's still plenty to worry about in the long term.