Bruce Springsteen performs during halftime of the Super Bowl in Tampa, Fla., in 2009. In music, and increasingly in other industries, a relative handful of top performers take more and more of the spoils, says White House chief economist Alan Krueger.
White House economic adviser Alan Krueger took some ribbing from his boss this week. President Obama noted that Krueger will soon be leaving Washington to go back to his old job, teaching economics at Princeton.
"And now that Alan has some free time, he can return to another burning passion of his: 'Rockanomics,' the economics of rock and roll," the president said. "This is something that Alan actually cares about."
Hasan Rowhani, the lone moderate in Iran's presidential elections, has secured victory and headed off a runoff vote in a symbolic rebuke to the country's hard-line Islamic clerics.
Rowhani, 64, won nearly 51 percent of the vote in a field of five other candidates, all but himself considered conservatives who were more or less in line with Supreme Leader Ayatollah Ali Khamenei. Rowhani's closest rival, Tehran Mayor Mohammad Baqher Qalibaf, came in a distant second, with less than 17 percent of the ballots.
A 94-year-old man who allegedly was a top commander of a Nazi SS unit responsible for the massacre of civilians during World War II is reportedly living quietly in Minnesota, according to an exclusive report by The Associated Press.
The news agency says it obtained records through the Freedom of Information Act that show Michael Karkoc lied to officials in 1949 about his past in order to immigrate to the United States.
As it turns out, prime urban parking can be almost as valuable as a single-family home. A Boston woman bought two parking spaces for $560,000 at auction Thursday, winning a tough bidding war that increased by the tens of thousands at each turn.
The buyer, Lisa Blumenthal, said the spots will be used for guests and workers, at the hefty price of $280,000 each — nearly 90 percent of the worth of the median sales price of a single-family home in Massachusetts.
This week, the U.S. Fish and Wildlife Service proposed a new rule that would extend "endangered species" protections to chimpanzees held in captivity. Nearly half of all the chimps in the U.S. live in research facilities, and the regulation changes would make it more difficult to use these animals in medical experiments.
Australian archaeologists using remote-sensing technology have uncovered an ancient city in Cambodia that has remained hidden for more than a millennium under dense jungle undergrowth.
The discovery of Mahendraparvata, a 1,200-year-old lost city that predates Cambodia's famous Angkor Wat temple complex by 350 years, was part of the Hindu-Buddhist Khmer Empire that ruled much of Southeast Asia from about 800 to 1400 A.D., during a time that coincided with Europe's Middle Ages.
Home values have been rising in recent months, but mortgage rates have taken a rapid turn upward as well. Some investors are worried that the housing recovery may stall if mortgage rates jump too quickly.
Mortgage rates have seen a relatively sharp rise this month. The average 30-year fixed-rate loan hit 4 percent earlier in June — a big jump from the record lows of recent years. Some investors are now concerned that the housing recovery could be stifled if rates continue to rise quickly.
The Federal Reserve has two main missions: to maximize employment and minimize inflation. Right now, there are few, if any, signs that prices for goods are spiking, and the job market is still crawling out of its long, deep slump.