global economy

President Obama, in his annual address to the United Nations General Assembly on Wednesday, cited "the cancer of violent extremism" in the Middle East as the single issue that could derail future global progress, and said six years into his presidency that the world is at a crossroads. He specifically called on Muslim communities in the region to confront the threat of extremism and reject such ideology.

A former senior executive at Qualcomm Inc. made nearly $250,000 in illegal profits from using inside information to buy stock in the wireless technology company and an acquisition target before major public announcements, according to an indictment unsealed Monday. Jing Wang was charged with insider trading, money laundering, conspiracy, obstruction of official proceedings and aggravated identity theft. He voluntarily surrendered at FBI offices Monday and pleaded not guilty at an initial court appearance.

As bankrupted governments are starved of revenue, global corporations and its upper echelon evade taxes at an unprecedented rate. In the UK, protesters shut down HSBC banks and set up food banks. It was a poignant representative image of after effects that come from harsh austerity measures that only benefit the 1%. Now, the G20 is agreeing to get serious about tax avoidance — but will it actually matter?