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U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

2

The stock market may be doing so well that it's causing more baby boomers and Gen Xers to drop out of the labor force

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Italy's $4.7 billion cheese economy is feeling the heat as climate change threatens its cheese banks that hold Parmigiano wheels as loan collateral
Russia

Apple stops online sales in Russia as ruble plunges

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TIME
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December 17, 2014, 7:47 AM ET
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This post is in partnership with Time. The article below was originally published at Time.com.

By Naina Bajekal, TIME

Apple halted online sales of its iPhones, iPads and other products in Russia after this week’s “extreme” ruble fluctuations. The Russian currency lost over 20% this week and bonds and stocks also tumbled.

“Our online store in Russia is currently unavailable while we review pricing,” wrote Alan Hely, an Apple spokesman, in an email to Bloomberg.

Apple (AAPL) had earlier tried to deal with the fluctuations by increasing its prices in Russia by about 25%. Apple doesn’t have any of its own stores in the country, so the online store is its main outlet for Russian consumers. But now with the ruble’s value at an all-time low, Apple believes the currency is too volatile to set prices.

Read more: No more iPhones in Moscow, no dollars in Vladivostok, but ruble steadies

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