BRUSSELS—European officials are stepping up contingency planning for a possible Greek exit from the euro zone, even as Europe's leaders struggled to overcome differences on how to resolve the currency bloc's crisis at a summit meeting here. As European leaders find little compromise, the euro drops to a two-year low as the possibility of a Greek exit looms. Katie Martin reports on Markets Hub. Photo: Bloomberg. Emerging from Wednesday night's informal European Union summit, Italian Prime Minister Mario Monti said most leaders had backed issuing common debt, or euro-zone bonds, to help support troubled members. But Germany and others opposed them and demanded Greece do more. "We want Greece to remain in the euro zone," German Chancellor Angela Merkel told reporters after nearly eight hours ... Continue reading →

You need to enable Javascript to play media on Bloomberg.com Play Detroit Residents Stay In at Night as Lights Go Out Enlarge image Half of Detroit’s Lights Might Go Dark as City Shrinks Itself Illuminated street at night, Detroit. Illuminated street at night, Detroit. Photographer: Getty Images Detroit, whose 139 square miles contain 60 percent fewer residents than in 1950, will try to nudge them into a smaller living space by eliminating nearly half its streetlights. As it is, 40 percent of the 88,000 streetlights are broken and the city, whose finances are to be overseen by an appointed board, can’t afford to fix them. Mayor Dave Bing’s plan would create an authority to borrow $160 million to upgrade and reduce the number of streetlights ... Continue reading →

Elton John Hospitalized With Serious Respiratory Infection First Published: May 24, 2012 11:37 AM EDT Credit: Getty Images LOS ANGELES, Calif. -- Caption Sir Elton John arrives at the 19th Annual Elton John AIDS Foundation’s Oscar viewing party held at the Pacific Design Center, Hollywood, on February 27, 2011 Elton John is a bit under the weather. The singer, 65, was hospitalized at Cedars-Sinai Medical Center in Los Angeles on Wednesday morning after developing a serious respiratory infection while performing his show, “The Million Dollar Piano,” at The Colosseum at Caesars Palace in Las Vegas on Sunday. Following his hospitalization, the “Your Song” singer was forced to cancel three upcoming performances, per doctor’s orders, in order to recuperate from the infection and prevent any damage. ... Continue reading →

In the story Alex and I wrote for the home page today about Republican efforts to target Vice President Joe Biden, a number of Democrats came to his defense, arguing he does far more good than harm for the presidential ticket and suggesting it's a waste of time to focus on him. But poll numbers from Gallup today are a reminder of one reason Republicans consider him a target - voters are basically split on him, with his favorable rating (42 percent) lower than his unfavorable rating (45 percent). As Gallup's pollsters note, it's "been the case for most of his tenure as U.S. vice president. Americans were much more positive than negative toward Biden from the time he was chosen as Barack Obama's running ... Continue reading →

Joe Scarborough Drinks A Beer On Live TV Before 8am “Broadcasting while intoxicated.” posted May 23, 2012 8:36am EDT Continue reading →