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EVERY year the Banker magazine publishes a ranking of the world’s banks by profits, assets, losses and the like. The latest ranking confirms a shift in power towards banks based in emerging markets. Three Chinese banks make it on to the list of the 20 biggest banks. Agricultural Bank of China, which is about to embark on the world’s biggest IPO, does not quite make the cut. Among the big losers of 2009, European banks, which bought so much toxic securitised sludge, are well represented.

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The tax of 0.25 mills would raise $6.7 million for the district but would come at the expense of homeowners and businesses at a time when the region is still struggling with falling property values and high unemployment.

If approved by the School Board, the tax would cost the owner of a home valued at $250,000 with a homestead exemption of $25,000 an additional $56 per year in school property taxes.

The tax increase is one of several steps McGonegal is asking the board to approve by July 19 to cut costs or raise extra revenue.

Under his plan, teachers who leave would be replaced by substitute teachers.

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FOUR years after he was taken hostage, the family of Gilad Shalit, an Israeli soldier being held by Hamas in Gaza, are showing their frustration by staging a sit-in outside the house of Israel’s prime minister, Binyamin Netanyahu. Mr Shalit’s sojourn with his captors has been lengthy but past hostages in the Middle East (and in Colombia) have been held for even longer. As an Israeli solider, Mr Shalit is seen somewhat differently to many long-term hostages. His captors point to the thousands of Palestinians being held in Israeli jails in their defence. Israel has come close to securing his release on a number of occasions as part of a prisoner exchange but thus far without success.

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Hopping on Facebook or checking out a person’s Twitter account may be one way younger people spend their time online.

And while some may view doing so as a waste of time, there are ways that these social networking sites may be able to help with personal finance decisions and planning a home budget. In a recent report for the Huffington Post, LearnVest founder Alexa von Tobel wrote that younger consumers can benefit from offers made exclusively through these communication tools.

“There are tons of discounts and deals to be found on the web,” von Tobel wrote.

Online resources for helping with home budget aren’t limited to social networking. Full Post…

THE two leading auction houses, Sotheby’s and Christie’s, have come a long way since the dark days of late 2008, when the sudden collapse of the art market caused their revenues to plummet. At the time, they were forced to pay out nearly $200m in guarantees to honour contracts on works that had been consigned to auction, yet failed to sell on the day. Now, two years later, the sector is running ahead of itself. As the art-market recovery gets under way, auction houses now face a particularly delicate moment.

When art prices fell, auction houses struggled to attract sellers. Col

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