And news that Washington has finally reached a deal, averting a potentially catastrophic debt default, is drawing a mixed reaction from the rest of the world.
NPR's Philip Reeves, in London, is watching the markets for us.
PHILIP REEVES, BYLINE: We all know that, at times, the markets can be panicky and irrational. Yet, during this crisis, they held their nerve. Analysts say traders were always pretty confident there would be a last-minute deal. This time, they were right.
And our last word in business today is: diamonds on your timepiece.
Police in Great Britain are selling the luxury assets of Vincent Graham. He operated a drug ring in England before police arrested him a couple of years ago. Upon his arrest, police also seized some of Graham's personal belongings: jet skis, motorcycles, a Lamborghini and other luxury cars, items that Graham will no longer needs now that he's in prison.
Let's turn now to a House Democrat for reaction on the deal. Democratic Representative Steve Israel of New York is on the line. Good morning, Congressman.
REPRESENTATIVE STEVE ISRAEL: Good morning. How are you?
MONTAGNE: Fine. Thank you very much. Now, let's just move forward in time. Democrats said they would negotiate once the government reopened and the debt ceiling was raised. Both of those done. Are you ready for serious budget negotiations?
Gary Robins sits in the chair of his Supercuts salon in Media, Pa., one of 41 he owns throughout Philadelphia and Delaware.
Credit Will Figg for NPR
Martha Matilda Harper used this photo of herself to advertise her salons.
Credit Via winningthevote.org
Though the Supercuts imprint is everywhere — from the wallpaper to the reception desk — Gary Robins (right) owns the business and is responsible for the bottom line. Robins and employees at his Havertown, Pa., location look over stats and sales for the week.
We have been reporting for several weeks now on small businesses in America. Today, we explore a business system where entrepreneurs and corporations come together: franchising. Franchising is a bit like marriage. It takes a good long-term relationship to succeed.
I have a story on All Things Considered Wednesday (click on the audio link above to hear it) about the campaign to put labels on food containing genetically modified organisms, or GMOs. The idea is gaining ground in the Northeast — Maine and Connecticut passed labeling laws this summer, though they won't take effect unless more states do the same. And GMO labeling is on the ballot this November in Washington state.
Traders at the New York Stock Exchange on Wednesday. Stocks surged on Wall Street after Senate leaders reached a deal that would avoid a U.S. default and reopen the government after 16 days of being partially shut down.
On Wednesday, the stock market cheered the debt ceiling deal in Congress. The Dow gained 206 points and all the major indexes closed higher.
Investors of course have been watching the showdown in Washington very closely, since a default could have been a global financial disaster. At the same time, economists are trying to figure out how much the jitters and uncertainty over all this has been hurting the economy.
Reporter Glenn Greenwald, who became famous reporting on NSA contractor Edward Snowden's disclosure of the NSA's government surveillance programs, is leaving the <em>Guardian</em> to form a new media company with eBay founder Pierre Omidyar.
New York City Council speaker and then-mayoral candidate Christine Quinn speaks at a fast-food workers' protest outside a McDonald's in New York in August. A nationwide movement is calling for raising the minimum hourly wage for fast-food workers to $15.
Originally published on Wed October 16, 2013 3:48 pm
If you hit the drive-through, chances are that the cashier who rings you up or the cook who prepared your food relies on public assistance to make ends meet.
A new analysis finds that 52 percent of fast-food workers are enrolled in, or have their families enrolled in, one or more public assistance programs such as SNAP (food stamps) Medicaid or the Children's Health Insurance Program (CHIP).
Originally published on Wed October 16, 2013 2:40 pm
Since the start of the fiscal standoff that led to a government shutdown and a flirtation with a historic debt default, Democrats have been led by the tag team of President Obama and Senate Majority Leader Harry Reid.
At times, their tactics resembled the good cop, bad cop routine where one officer offers the suspect a cup of coffee and the other smacks it from the suspect's lips. Reid, of course, is the smacker.
Originally published on Wed October 16, 2013 9:23 pm
Update at 10:18 p.m.: House Approves Bill:
The crisis is over. With about two hours before the country reached the debt ceiling, the House has approved the bill and it is now it's way to the White House. We've posted separately on that development and we are putting this live blog to bed.