State officials say an intervention in the Birmingham school district could extend into September 2014.
Former State Superintendent Ed Richardson, who leads the intervention team, said the state board of education should not end the intervention prematurely. Al.com (http://bit.ly/14ec8z3 ) reports the effort marks the state's fourth intervention in the local school system in 12 years.
The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.
Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don't agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.
It has been one of the more heated debates in Washington this year.
Developers in Phoenix are scrambling to keep up with another frenzied demand for housing. During the Great Recession, homebuilders in the suburbs abandoned neighborhoods that were only half-built. These so-called zombie subdivisions left a ring of unfinished construction around the city.
Last week was a wild one for China's economy. Overnight borrowing rates spiked, lending between banks began to freeze up and the Shanghai stock market took a nose-dive. Things have calmed down since then, but the underlying problems that triggered the panic remain. Among them, the explosive growth of the country's so-called shadow banking sector.
NPR's business news starts with new charges against China.
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GREENE: The United States charged a Chinese wind turbine maker, yesterday, with stealing trade secrets from a U.S. company. The Department of Justice says China's Sinovel stole more than $800 million worth of intellectual property from U.S. company AMSC.
AMSC is seeking more than $1 billion in damages. Transcript provided by NPR, Copyright NPR.
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And I'm David Greene. Good morning. Well, now that summer is officially here, we thought this might be a good time to check in with some of our colleagues to find out how the federal budget cuts known as sequestration are playing out. These cuts went into effect in the spring, and it is becoming clear that some federal agencies and programs are feeling the brunt, while others have largely escaped.
Federal regulators have filed civil charges against former New Jersey Governor Jon Corzine in connection with the failure of his commodities firm, MF Global. The government says Corzine failed to stop the firm from dipping into customer funds during a financial crisis in October 2011.
Anyone who's seen a North Carolina license plate knows the state proudly claims itself as the site of the first airplane flight. But this week, Connecticut said not so fast. The state passed a law declaring it was home to the first flight.
Federal regulators are suing former MF Global Holdings CEO Jon Corzine, accusing him of not properly supervising the company that filed for bankruptcy back in 2011. The Commodity Futures Trading Commission says Corzine failed to keep money that belonged to the brokerage's customers from being used to cover MF Global's obligations.
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Farmers work at the mercy of three forces that are largely outside their control: weather, markets, and government. The weather has been good in many parts of the country and the markets are up. But government remains the wild card. Congress failed to pass the Farm Bill, the huge package of legislation that lays out years of food policy. And that leaves farmers in limbo.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
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He was a governor, a senator and a Wall Street success story. Now, Jon Corzine faces federal civil charges. Regulators filed them today in connection with the collapse of Corzine's commodities firm, MF Global. The government says he failed to stop the firm from misusing customer funds during the financial crisis in October 2011.