More than 1,300 miles (2,092 kilometers) from New York, on the uninhabited island of West Caicos, a group of European investors are helping to pick up the pieces from Lehman Brothers Holdings Inc.’s collapse.
The looming showdown between President Barack Obama and congressional Republicans over raising the $16.4 trillion federal debt limit has made alternatives including minting a trillion-dollar coin or invoking a constitutional amendment to pay the bills part of the political debate.
From Manhattan office towers to apartments in Florida to retail properties in Washington, commercial real estate values are rising, defying predictions of a collapse that would drag the U.S. economy back into recession.
The U.S. might run out of funds to pay all its bills as early as Feb. 15 after it exhausts emergency measures undertaken when it hit the $16.4 trillion debt ceiling at the end of last month, the Bipartisan Policy Center said today.
James Murdoch, News Corp.’s deputy chief operating officer, is cutting some of his ties to London ahead of a move to New York that was delayed amid a phone- hacking scandal that engulfed the U.K. business.