Further data confirmed that a robust recovery is under way in America's housing market. The S&P/Case-Shiller house-price index rose by 10.9% in March compared with the same month last year, the biggest increase since 2006, when the property bubble was forming (house prices are still 28% below the peak). In Phoenix prices were up by 22.5% and in Las Vegas by 20.6%. A separate measure of consumer confidence hit its highest level in five years. Stockmarkets initially surged on the positive data but fell on May 29th as investors fretted that good economic news makes it more likely that the Federal Reserve will slow its asset-purchase programme (or QE3) later this year. The yield on ten-year Treasuries rose to 2.17%, the highest in 13 months. Japan's Nikkei stockmarket index, one of the world's best performers so far this year, saw another sharp sell-off, falling by 5% on May 30th. Liberty cell An alleged $6 billion money-laundering scheme, the biggest in history, was uncovered at Liberty Reserve, an online currency- and payment-processing firm. Prosecutors claim the service was a "PayPal for criminals" to launder ill-gotten gains from many crimes, including card fraud. Better Place, an Israeli start-up that worked on electric cars with swappable batteries, filed for bankruptcy. The firm had hoped to set up electric-car "service stations" where batteries low on power could be changed over, but only a modest number of subscribers signed up. The politicking intensified in the European Union ahead of a looming decision on whether to slap import tariffs on Chinese solar panels. Critics say China's industry has an unfair advantage because of generous government subsidies (the market has contracted in Europe as subsidies wilt in the face of the debt crisis). The case is a test for EU trade policy. Some countries, notably Germany, have signalled their opposition to sanctions. In a tit-for-tat move, China could impose tariffs on European wine, to French horror. Warren Buffett's Berkshire Hathaway acquired NV Energy, which provides power to Las Vegas and the Reno area, for $5.6 billion. Mr Buffett's financial muscle will strengthen NV's green-energy business to meet Nevada's goal of providing 25% of electricity from renewables by 2025. In the latest mega-deal in the health-care industry, Valeant, a drug company with headquarters in Quebec, said it was buying Bausch + Lomb, best known for its contact-lens products, in an $8.7 billion acquisition. Opening up the vaults The Swiss government proposed a bill that would allow a dozen banks, including Credit Suisse and Julius Baer, to co-operate with America over allegations of aiding tax evasion. In a bizarre compromise, they would not hand over clients" names, but would provide enough information so that they could be identified. The settlements are expected to cost $5 billion-10 billion overall - if the Swiss parliament approves the bill. Shuanghui, a Chinese pork producer, agreed to buy Smithfield Foods, a meat-processing company based in Virginia, for $4.7 billion. The deal needs to be approved by the Committee on Foreign Investment in the United States, a government body that may ask tough questions about a rash of food-safety scandals in China. Brazil's economy grew by a feeble 0.6% in the first quarter compared with the last three months of 2012. Despite a raft of measures from the government to boost growth, consumers are stubbornly guarding their purses. However, with inflation still high, the central bank raised interest rates this week by half a percentage point to 8%, more than was expected. In contrast GDP in the Philippines expanded by a peppy 2.2% in the quarter, beating China's growth rate. France Télécom decided to change its name to Orange, the better-known brand of its services around the world. France Télécom acquired Orange in 2000, where it was a British mobile-phone operator. Home economics Mothers are the main breadwinners in 40% of American households, according to Pew. Most of those are single parents, but the big rise is in the share of households in which the wife earns more than her husband, which is now the case in 15% of all households with children. The median family income in such homes is $80,000, compared with a national median of $57,100 and $23,000 for single-mother households. Women's participation in the workforce has been rising for decades, but Pew reports that the number of mothers who want to work has shot up since recession struck in 2007.