French economist Thomas Piketty became a publishing superstar this year by putting two and two together and concluding that the rich are getting richer.
His best-seller, Capital in the Twenty-First Century, uses mountains of data to calculate Western wealth over the past two centuries. He says the historical statistics, drawn from many sources, show unrestrained capitalism inevitably leads to immense income inequality.
President Obama on Friday officially nominated San Antonio Mayor Julian Castro to the post of secretary of the Department of Housing and Urban Development, a move that boosts the profile of a young Hispanic seen as a rising star in the Democratic Party.
Castro would replace Shaun Donovan, who Obama wants to become the next director of the Office of Management and Budget. Donovan would take over OMB from outgoing budget director Sylvia Mathews Burwell, who's expected to be confirmed shortly as the next health secretary.
Faced with a weak economy and a need to improve Italy's debt ratio, Prime Minister Matteo Renzi's government will include illegal drug sales and prostitution when it figures the country's gross domestic product.
That's according to a report from Bloomberg News, which says:
A federal judge in Detroit has ruled that Democratic Rep. John Conyers, the second-most-senior member of the U.S. House, will appear on the August primary ballot, overturning a decision by Michigan's secretary of state who said the candidacy was invalid.
Judge Matthew Leitman issued an injunction ordering Conyers' name to be placed on the ballot, The Associated Press says.
An all-new meteor shower makes its debut tonight, and astronomers say it could put on a show starting as early as 10:30 p.m. ET Friday and peaking early Saturday. Called the Camelopardalids, the shower is named after the giraffe constellation. It's expected to be visible in nearly all of the U.S., if skies are clear.
"No one has seen it before," NASA says, "but the shower could put on a show that would rival the prolific Perseid meteor shower in August."
Donald Sterling, the Los Angeles Clippers owner who has been banned for life by the NBA for making racist remarks, has agreed to sell the team, according to reports. Both ESPN and TMZ say that Sterling will allow his wife, Shelly, to negotiate the deal.
Sterling "has signed the Los Angeles Clippers over to his wife," ABC News says, citing a source "close to the team."
All he had were his bare hands and one chance. But a man successfully caught an infant who fell from a second-floor apartment's window in southern China this week, making him a hero in Chinese social media after the feat was caught on a surveillance camera video.