Sunken Warship Yields $1B Booty

Maybe this could go some way to solving the UK’s money troubles: Treasure hunters have discovered the wreckage of a booty-laden British warship that was lost in the English Channel in 1744. Florida-based Odyssey Marine Exploration Inc. says the wreck holds as much as $1 billion in loot, including four tons of gold coins and 110 bronze cannons. Odyssey, fresh off a fight with the Spanish government over 17 tons of silver coins, is playing it safe this time around and will share the money with the British Ministry of Defense.