As a deadline on Cyprus to come up with a financial bailout plan nears, a possible rescue from Russia looks to have fallen apart, leaving the island nation few options for staving off default.
Russian Finance Minister Anton Siluanov said as far as Moscow was concerned "the talks have ended," but Prime Minister Dmitry Medvedev left the door open, saying aid from Moscow would be contingent on Cyprus gaining European Union backing for its other money-raising ideas.
NPR's business news starts with high debt and low wealth.
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INSKEEP: Since the financial crisis, many Americans have been saving money and paying down debt. Many are in better financial shape than a few years ago. But when you look at the longer term, it is clear that Americans as a whole have not regained all the ground they lost.
The Census Bureau compared Americans in 2011 with their wealth and debt burdens in that seemingly long-ago year, 2000.
What better place to play video games than in a man cave? That's our last word in business today. It's how real estate website Zillow describes a Cold War-era bomb shelter in South Florida, now on sale for just under half a million dollars - 30-inch thick, steel-reinforced, concrete walls; decontamination showers; and 17-foot high ceilings.
There's even some milk solids and canned sugar left over, and it allegedly could be turned into a home. The listing agent describes the property as something out of an old Japanese Godzilla movie.
The tiny Mediterranean island-nation of Cyprus is teetering on the edge of insolvency after rejecting a tax on bank deposits imposed by the E.U. and IMF in exchange for a bailout. Cyprus has until Monday to approve a new bailout plan.
In Chicago, officials have released a long-feared list that places more than 50 schools on the chopping block. The public school district faces a $1 billion shortfall, and the mayor says many of the city's school buildings are half empty. Some angry parents and teachers say the plan will harm children and they'll fight to keep the schools open.
For eight decades, Daily Variety has been a Hollywood must-read for everyone from studio heads to actors looking for a big break. But the days of assistants running out to grab the "trades" are over: This week, the Los Angeles institution published its last daily edition.
This generation of video game consoles will be remembered for over-the-top, knock-you-out-of-your-seat extravaganza games like Halo, Call of Duty — and Gears of War, a juggernaut of a game. The first three Gears of War sold 19 million units, making it a $1 billion franchise. And the latest, Gears of War: Judgment, has just hit stores at a crucial time in the video game industry — sales are down, new Xbox and PlayStation consoles are due out, and mobile gaming is growing.
For baseball fans, spring training is a time for renewed hopes and a reminder that winter is almost over. But for the major league teams and Arizona and Florida communities, spring training is big business. In Florida, 1.5 million fans attend spring training games with an estimated $750 million annual economic impact, and the state is working to keep the teams from fleeing.