Billionaire John Paulson lost almost $1 billion as gold posted its steepest decline in 30 years hitting $1,361 per ounce. The precious metal is no longer seen as a safe-haven asset. Those who decided that it was too early to dump gold for good, lost a lot in the past few days. Billionaire John Paulson lost almost $1 billion of his personal wealth in the past two days as gold price fell to its lowest... 

Robert Zoellick, the head of the World Bank, on Saturday decried Germany’s lack of leadership during Europe’s sovereign debt crisis. Speaking to business magazine Wirtschaftswoche, Zoellick said Chancellor Angela Merkel’s government had no vision of how to solve the problems of the 17-member eurozone. “There has been a lot of political bumbling, but the economy and the markets need direction... 

Obama slammed the Europeans at an event in Mountain View, California on Monday. US President Obama has given the Europeans a harsh lecture on the dangers of their ongoing debt crisis. Offended by the unsolicited advice, Europeans have suggested the US get its own house in order first. Obama’s remarks were “arrogant” and “absurd,” German commentators say on Wednesday. Europeans...