Faced with mounting debt, Ireland's government has slashed nearly $6 billion from its budget -- a big adjustment for a country with just 4.5 million people. Christopher Werth reports on the end of the Celtic Tiger.
Greek Prime Minister George Papandreou will head to Berlin tomorrow to ask for an E.U. rescue. Germany will likely have the final say on any bailout, but German officials already aren't keen on the idea. Christopher Werth reports.
The U.S. Justice Department is investigating whether several hedge funds added to Greece's debt problems by conspiring to drive down the value of the euro. Christopher Werth reports one particular event driving suspicions.
AIG is selling off AIA, its Asian life insurance division, to British financial services company Prudential. The $35 billion deal will help AIG pay its debt to U.S. taxpayers. Christopher Werth reports.
The European Union has launched a preliminary inquiry into Google's search ranking system. Google's European competitors have egged the E.U. onto investigating the practices of the domineering search engine. Christopher Werth reports.
The German airline Lufthansa has asked a judge to step in and stop a four-day strike by pilots that began today, which some estimate is costing the carrier up to roughly $34 million a day. Christopher Werth reports.
When the folks at Davos knock off for the day, when workshops on the future of capitalism are done, there's no shortage of things to do. The nightlife goes on into the wee small hours. Christopher Werth reports from some of the piano bars in town.
During last year's financial upheaval, officials from top banks in the U.S. and Europe were conspicuously absent from the World Economic Forum. But with Obama's newest bank proposals, they can't afford to stay away. Christopher Werth reports.