As Jim Zarroli mentioned, Russians are the main foreign depositors in Cyprus. They've used the island as an offshore haven, thanks to low taxes and lax regulations, same things that have lured some rich Americans to bank in, say, the Cayman Islands. Well, according to Moody's Investor Services, Russian banks and businesses have around $30 billion in Cypriot accounts and that's why today, Russian President Vladimir Putin lost no time in denouncing the tax on bank accounts as unfair, unprofessional and dangerous. Those were his words.
The winners of the inaugural Queen Elizabeth Prize for Engineering were announced Monday in London. Five Internet pioneers — Marc Andreessen, Sir Tim Berners-Lee, Vinton Cerf, Robert Kahn, and Louis Pouzin — will share the honor and the one million pound prize. The new U.K.-based award aims to be a "Nobel Prize" for engineering. Robert Siegel talks to Lord Browne of Madingley about the winners.
Originally published on Mon March 18, 2013 3:28 pm
Wonder why you can't get a straight answer on how much a treatment or test will cost you? One big reason: State laws that allow hospitals and other providers of health care to keep costs hidden until they send you the bill.
A report card on price transparency released Monday gives 29 states an F and seven states a D for policies that keep patients and their families in the dark on prices. The failing grade went to those with practically no transparency requirements.