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Most of the CBL contracts with German municipal authorities were concluded in the late '90s. After a while, the IRS caught on to what was clearly a tax scam on the part of the American investors. The tax write-off applied to purchases of foreign infrastructure assets. But the German assets were not purchased; they were being leased. So in 2004 the loophole was closed...
...sure has become popular. In late March, the head of China's central bank made headlines by arguing that the time had come for the SDR to supplant the dollar as the world's "supersovereign reserve currency." A few days later, a U.N. task force recommended the same thing. Then U.S. Treasury Secretary Tim Geithner endorsed giving SDRs a bigger role. After the dollar fell in currency markets in reaction, Geithner backpedaled. But at the G-20 meeting in London, President Barack Obama joined the assembled heads of state in agreeing to a nearly tenfold, $250 billion increase...
...project is the brainchild of Google, which hopes to both foster online classical-music communities and cement YouTube's reputation as a repository for quality content. After dreaming up the idea in late 2007, Google approached prominent musicians and ensembles such as the London Symphony Orchestra and Tilson Thomas, a new-media pioneer in his work with the San Francisco and New World Symphonies...
...sought to buy assets abroad at an unprecedented pace. Aluminum Corp. of China (Chinalco) has announced plans to invest $19.5 billion in Rio Tinto, one of the world's largest mining companies. If completed, the deal would be the biggest foreign purchase any Chinese company has ever made. In late February, Hunan Valin Iron & Steel Group of China purchased a $771 million stake in the Australian iron-ore exporter Fortescue Metals Group. And China Minmetals, another state-owned firm, offered to pay $1.2 billion in cash for Australia-based Oz Minerals, the world's second largest zinc miner. "These [Chinese...
...pulled further ahead late in the game by adding runs to its slim lead. After the Terriers scored twice in the sixth inning, giving them a 3-0 advantage, Harvard showed a late flicker, posing a threat in the final inning with consecutive singles. BU closed the game out moments later, as shortstop Melissa Dubay caught a rocket line drive off the bat of Crimson junior Melissa Schellberg and tossed the ball to Emily Roesch, who stomped on second base for a 6-4-3 double play...