The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.
The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.
The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.
It is almost unimaginable that both the House and Senate would be in session on a Sunday evening on the penultimate day of the year. And yet, they both were, with lawmakers hoping it was not merely a big waste of time and effort.
A bipartisan push by Senate leaders over the weekend has so far failed to forge a deal to spare American wage earners from tax hikes and shield government programs from drastic cutbacks.
Hear an excerpt of 'Thomas Jefferson: The Art of Power'
If you're feeling overwhelmed by the holiday rush — too swamped, even, to spend an afternoon reading those books you got for Christmas, we have some recommendations for you — but these are audiobooks, so you can listen while you multitask.
For scientists who study a dangerous form of bird flu, 2012 is ending as it began — with uncertainty about what the future holds for their research, but a hope that some contentious issues will soon be resolved.
The tortuous negotiations involved in the "fiscal cliff" talks are like a chess game.
To shed some light on the kinds of negotiation techniques that members of Congress might be using during the talks, we asked two negotiators to walk us through their tactics with examples from their everyday lives.
GREENE: Apple hit a big milestone this year when it became the most highly valued public company in history. So it may be a surprise to hear that Apple's CEO, Tim Cook, saw a big dip in salary - like, a 99 percent dip.
And our last word in business has the Second City coming in first, but I have a feeling this will not be a source of pride. In 2013, Chicago will have the most expensive parking meters in North America.