Federal and state authorities have received criticism after deciding not to indict HSBC on accusations that it laundered money for Mexican drug cartels and conducted prohibited transactions on behalf of countries like Iran and Sudan. Instead, they entered into a $1.9 billion settlement this week with the bank.
There's no question that HSBC is a massive, sprawling operation. It markets itself as the world's local bank. But watchdogs of the banking industry say mere size should never insulate an organization from the law.
I went to Toys R Us recently to buy my son a Lego set for Hanukkah. Did you know a small box of Legos costs $60? Sixty bucks for 102 plastic blocks!
In fact, I learned, Lego sets can sell for thousands of dollars. And despite these prices, Lego has about 70 percent of the construction-toy market. Why? Why doesn't some competitor sell plastic blocks for less? Lego's patents expired a while ago. How hard could it be to make a cheap knockoff?
Hurricane Sandy's effect on the nation's unemployment figures was less pronounced than expected. The reasons are complex, but one thing is clear: Thousands of victims are still struggling to rebuild their lives and get back to work.
Danielle Siekierski was tending bar at a restaurant in Manhattan's Meatpacking District before Sandy hit. When the restaurant was damaged in the storm, the workers were told it might be a week before it reopened.
Eighteen months ago Eden Full was finishing up her sophomore year at Princeton University. She was on the crew team as a coxswain. She had spent the previous summer in Kenya building an innovative, low-cost contraption to make solar panels more efficient.
Full was glowingly successful — the kind of college student who ends up profiled in alumni magazines.
In the six months since a new law opened a path to temporary legal status for some young immigrants in the U.S., more than 300,000 people have applied — and have rushed to request qualifying documents from their schools.
The law, Deferred Action on Childhood Arrivals, or DACA, offers legal status, renewable every two years, to people ages 30 and younger who were brought to the country as children. Applicants must prove they were in the U.S. for five consecutive years — something most easily achieved through school transcripts.
Cartoonists have found many clever ways to depict the conventional wisdom that complex life evolved in the sea and then crawled up onto land. But a provocative new study suggests that the procession might be drawn in the wrong direction. The earliest large life forms may have appeared on land long before the oceans filled with creatures that swam and crawled and burrowed in the mud.