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The US can learn something about minimum wage from the rest of the world

BOSTON — Many Americans want to raise the minimum wage — quickly, before there's another fast-food strike. US President Barack Obama has backed a Senate effort to do just that. But, for now, federal minimum wage stands at $7.25 an hour. The rest of the world can teach us a thing or two about wage systems that work.

EU nations agree rules on bank bailouts

EU nations agreed new rules for bank bailouts or "bail-ins" late Wednesday, to save taxpayers from paying for the rescue of ailing financial institutions.

Spain hopes to export its way out of recession

VIGO, Spain — At this bustling harbor, the 500 tons of seafood hauled ashore each day are being upstaged by cranes lined along the quayside half a mile upstream, where piles of containers, hunks of granite and hundreds of automobiles wait to be hoisted onto ships at Vigo's booming commercial port. The latest figures from the Economy Ministry in Madrid show exports rose 8.3 percent in September compared to a year before, a spurt that’s prompting hopes that overseas sales could drag the Spanish economy out of its deepest recession in decades.

WTO approves global trade deal for first time in two decades

The World Trade Organization has approved a global trade deal for the first time in two decades, a long sought-after agreement that could boost the world economy by as much as $1 trillion.

Don't fear the global economic jargon. We've got you covered

Here’s the latest need-to-know from Wall Street, from tapering to the Volcker Rule and beyond. In plain English.
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New $100 bills are printed at the Bureau of Engraving and Printing. (Mark Wilson/Getty Images)
Are the tapering, forward guidance and carry trade making your head explode? Here's what the jargon's all about.

US jobless rate hits a five-year low

The US jobless rate has fallen to seven percent, a five-year-low that has prompted many economists to carefully watch the Federal Reserve's plans for its bond-buying stimulus.

Biden time in Asia

Commentary: China is the looming superpower, but with a tradition of taking the long view.
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Vice President Joe Biden with his Chinese counterpart Li Yuanchao. (Andy Wong-Pool/AFP/Getty Images)
OWLS HEAD, Maine — Vice-President Joe Biden has set off on perhaps the most sensitive and significant foreign policy venture of his five years under President Obama. Indeed, it may be a more important undertaking than anything Hillary Clinton did in the 956,733 miles she traveled as Secretary of State. During three decades of record growth, China has pole-vaulted its citizens into virtually undreamt-of economic prosperity and equally unimaginable pollution. Now, China has decided its time to parlay its position as an economic powerhouse into one as a forceful strategic player in East Asia. Biden's trip will take him to a triangle of countries, Japan, China, and South Korea. Each has competing interests and conflicting friendships.

Turns out almost 70 percent of the world's nations are seriously corrupt

For 20 years, Transparency International has kept us informed about corruption around the world.   Every year, the group quantifies these harms in its Corruption Perceptions Index (CPI), which ranks nations and territories and assigns each a corruption score. This year's CPI found that 69 percent of the world's countries are seriously corrupt or worse. Regionally, Eastern Europe and Central Asia ranked the worse, Western Europe and the EU the best. Here are the winners and losers from the CPI 2013.

What's the best airport to be stuck in?

What if there was an airport that you actually looked forward to being stuck in? Is it possible? According to this list of favorites, it may be. 

Dubai wins Expo 2020, first Middle Eastern nation to host event (VIDEO)

In a celebration normally reserved for a winning Olympic bid, revelers spilled into the streets of Dubai on Wednesday after learning their city would host Expo 2020. Fireworks and laser lights illuminated the night sky around the world’s tallest tower, the Burj Khalifa, after the announcement in Paris.
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