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People line in front of automated teller machines in Hatay, Turkey, May 17, 2013.

Turkey Seeks to Benefit From Islamic Banking Sector

In new strategy, secular government hopes to capitalize on demand for banking services that comply with Sharia law More

Apple CEO Tim Cook, center, is surrounded by his team during a break from testifying on Capitol Hill in Washington, May 21, 2013.

Apple Defends Tax Avoidance

Apple says it paid about $6 billion in US taxes in 2012, but investigators say it would have had to pay billions more without overseas accounts More

Senate Panel Accuses Apple of Using Complex Tax Loopholes

Senate committee says Apple has avoided paying taxes on billions of dollars in profitsMore

On Fleeting Hong Kong Trips, Chinese Make Frugal Fashionable

Bargain-hunters turn Hong Kong into a must-be location for retailers braving some of the world's most expensive commercial rents More

A news headline about the Tumblr sale to Yahoo scrolls on a building in New York's Times Square, May 20, 2013.

Yahoo Buying Tumblr for $1.1 Billion

Acquisition gives struggling Internet pioneer much-needed social media platform to reach younger generation More

More Economy & Business News

Bundesbank Chief Says France Must Take Deficit Cuts Seriously

Credibility of new eurozone rules will be hurt if their flexibility is pushed to the limit, President Jens Weidmann said in newspaper interview

A view is seen of the Nigeria stock exchange building in the central business district in Lagos, April 10, 2013.

Nigeria Switching to Foreign Debt to Lower Costs

Country is one of several African nations seeking to ride the wave of cheap money generated the West's less stringent monetary policies

2013 edition of Global Development Horizons report sees large investment growth in developing world.

Developing World Investment to Rise

World Bank report says global stock of capital to sharply increase

A Bangladeshi rescuer stands amid the rubble of a garment factory building that collapsed on April 24 as they continue searching for bodies in Savar, near Dhaka, Bangladesh, May 12, 2013.

Can Worker Safety Momentum in Bangladesh Last?

Some advocates concerned that efforts to improve working conditions will fade as tragedy moves out of news spotlight

An investor monitors the stock market at a securities brokerage in Taipei, Apr. 16, 2013.

Opinion: Washington's Scandals Won't Stunt US Recovery

Obama administration, its allies are right to be worried, but those who invested in US growth have little reason to fret

People work on machines at a clothing factory at an industrial town of Newcastle, 260 km (162 miles) southeast of Johannesburg, May 8, 2013.

The Cost of No Sweatshops: S. Africa Struggles Not to Be Bangladesh

Decades after end of white rule, Africa's biggest economy still has millions of unskilled workers, many living on less than $5 a day

A woman walks out of the Internal Revenue Service building in New York, May 13, 2013.

What Determines Tax Status of IRS Targeted Groups?

Under US law, certain charitable, religious, educational and cultural organizations are tax exempt

Google Launches Streaming Music Service Ahead of Apple

Amazon, Apple reportedly working on streaming music

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European Recession Now Longer Than 2008 Financial Crisis

The Eurozone economy shrank more than expected in 2013, falling two tenths of one percent between January and March. The new data means the 17-nation currency bloc has now been in recession for six consecutive quarters - longer even than the deep recession that followed the global financial crisis of 2008. Mil Arcega has more.