Category Archives: Money

Study finds poverty reduces brain power

Poverty and the all-consuming fretting that comes with it require so much mental energy that the poor have little brain power left to devote to other areas of life, according to the findings of an international study published on Thursday. The mental strain could be costing poor people up to 13 IQ (intelligence quotient) points… Read More »

Looming US Financial Disaster

Unless Congress raises the debt ceiling, the Treasury Department said on Monday that it expected to lose the ability to pay all of the government's bills in mid-October. That means a recalcitrant Congress will face two major budget deadlines only two weeks apart, since the stopgap "continuing resolution" that finances the federal government runs out… Read More »

Are the Rich Jerks? See the Science

The rich really are different from you or me. They're more likely to behave unethically. That's the finding of a group of studies by researchers at the University of California, Berkeley. The research shows that people of higher socioeconomic status are more likely to break traffic laws, lie in negotiations, take valued goods from others,… Read More »

Dubai offers gold to fight obesity epidemic

Dubai’s government will pay residents in gold for losing those extra pounds as part of a government campaign to fight growing obesity in the Gulf Arab emirate. … The 30-day weight-loss challenge was launched on Friday to coincide with the Muslim holy month of Ramadan, when the faithful refrain from eating and drinking during daylight… Read More »

PayPal accidentally credits man $92 quadrillion

When Chris Reynolds opened his June PayPal e-mail statement, something was off. The Pennsylvania PR executive’s account balance had swelled to a whopping $92,233,720,368,547,800. That’s $92 QUADRILLION (and change). Money that would make Reynolds — who also sells auto parts on eBay in his spare time — the richest man in the world by a… Read More »

'Happy Birthday': Who Owns the Rights?

Usually, “Happy Birthday” is a happy, celebratory song that often precedes cake and ice cream. But it might soon become part of a contentious legal battle. Jennifer Nelson, the president and owner of the New York based Good Morning to You Production Corp., is producing a documentary about the history of “Happy Birthday to You.”… Read More »

Florida woman claims massive Powerball pot

Somewhere, someone is kicking themselves for being nice to a little old lady. Gloria Mackenzie, 84, came forward to claim the second-largest U.S. lottery jackpot, more than two weeks after the $590.5 million Powerball drawing on May 18, Florida Lottery officials announced Wednesday. She passed up a payout spread over 30 years for a somewhat… Read More »

Solve a math puzzle, win $1 million

The Beal Prize was funded by Andrew Beal, a prominent banker who is also a mathematics enthusiast. An AMS-appointed committee will award this prize for either a proof of, or a counterexample to, theBeal Conjecture published in a refereed and respected mathematics publication. The prize money — currently US$1,000,000 — is being held in trust… Read More »

Feds shut down payment network Liberty Reserve. Is Bitcoin next?

Federal prosecutors have shut downLiberty Reserve, an alternative payment network that they say was a $6 billion scam "designed to help criminals conduct illegal transactions and launder the proceeds of their crimes." (Read the indictment.) This is a case anyone with Bitcoins in their virtual wallet is going to want to watch very closely. (Ieva… Read More »

Flawless diamond sells for record $26.7m at auction

A flawless diamond has set a world auction record, selling for $26.7m (£17.5m). The rare Botswana-mined 101-carat diamond was sold at a Christie’s auction in Geneva. It was bought by the Harry Winston firm and beat the previous record set by the 76-carat Archduke Joseph diamond, which sold for £21m (£13.8m) in November 2012. via… Read More »

Richter painting breaks record for living artist

A 1968 oil painting by German artist Gerhard Richter has set a new record in New York for the highest auction price achieved by a work by a living artist. Richter’s photo-painting Domplatz, Mailand (Cathedral Square, Milan) sold for $37.1 million (£24.4 million) at Tuesday’s sale. Tobias Meyer of Sotheby’s called the price “a major… Read More »

“Buycott” App Lets You Boycott Monsanto And More By Scanning Items in Your Shopping Cart

In her keynote speech at last year's annual Netroots Nation gathering, Darcy Burner pitched a seemingly simple idea to the thousands of bloggers and web developers in the audience. The former Microsoft MSFT +0.94% programmer and congressional candidate proposed a smartphone app allowing shoppers to swipe barcodes to check whether conservative billionaire industrialists Charles and… Read More »

Facebook co-founder among 679 who renounced US citizenship to avoid taxes

A quarterly publication by the Internal Revenue Service lists those citizens who voluntarily expatriate, or abandon their American citizenship — a growing number of whom are doing so to avoid taxes, according to several published reports. The latest list of those who have chosen to expatriate, published on May 8, 2013, included 679 citizens. The… Read More »

Senate OKs Internet Sales Tax With Overwhelming Bipartisan Support

The United States Senate overwhelmingly supported a tax on Internet sales today, voting 70-24 in favor of the Marketplace Fairness Act. The outcome was expected after a similar non-biding show of approval passed the Senate with roughly the same number of votes, despite extraordinary opposition from eBay and other major Internet organizations. As we've written… Read More »

Boston Marathon bomb blasts rock US stocks

ALMOST $9 billion has been stripped from the Australian sharemarket this morning as losses continued after US markets were rattled by the Boston blast and news of a China slowdown. Yesterday almost $15 billion was lost from Australian companies in the worst one day fall in a month on the release of figures showing the… Read More »

False White House explosion tweet roils market

A fake tweet from the account of the Associated Press sent stocks tumbling more than 140 points within minutes, erasing all of the day’s gains and then some, before bouncing back just as rapidly. The erroneous tweet, which was posted around 1:07 p.m. ET, said “BREAKING: Two Explosions in the White House and Barack Obama… Read More »

Video: One Ton of Gold Seized in Small Car

One Ton of Gold Seized in Small Car: On the Scene – YouTube. Come on. Obviously in some places people can’t trust the banks with their money, so some are keeping their riches elsewhere. It is not impossible to save up over many years and legitimately obtain $50,000 in gold. Especially if you bought gold… Read More »