The teenage suspect in the Boston Marathon bombings, whose flight from the police after a furious gunfight overnight prompted an intense manhunt that virtually shut down the Boston area all day, was taken into custody Friday night after the police found him in nearby Watertown, Mass., officials said. The suspect, Dzhokhar A. Tsarnaev, 19, was found hiding in a boat just outside the area where the police had been conducting door-to-door searches all day, the Boston police commissioner, Edward Davis, said at a news conference Friday night. Katharine Q. Seelye reports from Boston and William K. Rashbaum and Michael Cooper report from New York.
The banks that created risky amalgams of mortgages and loans during the boom â€" the kind that went so wrong during the bust â€" are busily reviving the same types of investments that many thought were gone for good. Once more, arcane-sounding financial products like collateralized debt obligations are being minted on Wall Street. The revival partly reflects the same investor optimism that has lifted the stock market to new heights. With the real estate market and the economy improving, another financial crisis seems a distant prospect. What’s more, at a time when the Federal Reserve has pushed interest rates close to zero, the safest of these new investments offer interest rates almost double that paid by ultrasafe United States Treasury securities, according to RBS Securities, which was involved in such instruments in the past. Nathaniel Popper reports from New York.
The Group of 20 countries called on Friday for a coordinated effort to stop international tax evasion, urging governments to systematically share bank data. Finance ministers and central bankers of the G-20, meeting in Washington, said in a communiqué that automatic exchange of tax-relevant bank information should be adopted as the global standard. The officials also noted the problems of economic weakness and high unemployment in many countries, and called for more action “to make growth strong, sustainable and balanced.†David Jolly reports.
British antitrust authorities on Friday accused the pharmaceuticals giant GlaxoSmithKline of paying three rivals to delay the introduction of a generic version of an antidepressant drug. It is the latest so-called pay-for-delay case drawing scrutiny from regulators on both sides of the Atlantic. The Office of Fair Trading in Britain contended that Glaxo had abused its dominant position in the market, kept prices artificially high and denied “significant cost savings†to Britain’s state-run health provider, the National Health Service. Stephen Castle reports from London.
ARTS On Tuesday, a fascinating auction, the second of its kind, put together at Bonhams by Rupert Worrall and Tanya Grigoroglou, turned the spotlight on “The Grosvenor School and Avant-Garde British Printmaking.†The sale opened with an artist whose willingness to experiment in almost every register of the artistic spectrum underlines how little inclination toward modernity mainstream printmakers had when they used traditional techniques, from wood-block to etching. “ Souren Melikian reports from London.
SPORTS One of the most dominant basketball players in recent memory came out as gay Wednesday, casually mentioning the fact in an interview as if it were an afterthought. The news media and the sports world seemed to treat it as such, too, with little mention of the star’s sexuality showing up on social media or on message boards, and virtually no analysis of what the revelation meant for tolerance in society as a whole. Sam Borden reports.
