Business & Education

It's All Politics
6:07 pm
Tue October 15, 2013

Shutdown Diary: Hope Turns Into Wall Street Warning

Wisconsin Rep. Paul Ryan, the House Budget Committee chairman, walks to a GOP meeting Tuesday.
Evan Vucci AP

Day 15 of the government shutdown started with as much promise as any recently: There was a bipartisan proposal by Senate leaders to reopen the government and raise the debt ceiling.

But any hopes were quickly dashed when leaders of the Republican-controlled House said they would offer a competing proposal because of their dissatisfaction with the Senate effort.

The Senate's Bipartisan Proposal

The Senate agreement between Harry Reid, D-Nev., and Mitch McConnell, R-Ky., came after weekend negotiations.

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Business
5:21 pm
Tue October 15, 2013

The IRS Can't Take Your Questions. It Will Take Your Return

IRS offices around the country, like this one in Brooklyn, N.Y., have been closed since the partial government shutdown began two weeks ago. While the agency continues to cash checks from payees, refunds, audits and most other operations are suspended.
Spencer Platt Getty Images

Tuesday, Oct. 15,is the filing deadline for the roughly 12 million Americans who received an extension on their 2012 taxes. And having 90 percent of its staff furloughed in the partial government shutdown doesn't mean the IRS doesn't want your money.

"The IRS is shut down, but the tax law is never shut down," says Joshua Blank, professor of tax practice and faculty director of New York University Law School's Graduate Tax Program.

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The Two-Way
4:41 pm
Tue October 15, 2013

Fitch Places U.S. Under Review For A Credit Downgrade

Originally published on Wed October 16, 2013 4:58 am

Fitch Ratings, one of the big three credit ratings agencies, issued a warning shot today, saying that while it affirmed the United States' AAA credit rating, it was placing it on "rating watch negative."

In other words, it was placing the country's long-term credit rating under review for a potential downgrade.

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Food
4:02 pm
Tue October 15, 2013

Even Before The Shutdown, Food Supply Regulated Itself

Originally published on Tue October 15, 2013 5:12 pm

Transcript

ROBERT SIEGEL, HOST:

Over the past few weeks, a debate has raged here in Washington about the U.S. food supply. The big question: Is the government shutdown making our food less safe. Since October 1st, both the FDA and the Centers for Disease Control and Prevention have had to furlough workers, and that includes some workers involved in the inspection of food processing plants and who monitor outbreaks of food-borne illness.

NPR's Allison Aubrey joins us now. Hi, Allison.

ALLISON AUBREY, BYLINE: Hi there, Robert.

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U.S.
3:08 pm
Tue October 15, 2013

What Happens If Congress Can't Make A Deal On The Debt?

A biker rides past the U.S. Capitol on Monday. Lawmakers are negotiating over plans to raise the federal debt ceiling amid warnings that the government soon won't be able to pay its debts in full.
Mark Wilson Getty Images

Originally published on Wed October 16, 2013 5:10 pm

If you don't pay your electric bill on time, you'll probably get charged a buck or two in interest. As long as you pay off the balance in a reasonable amount of time, your lights will stay on.

So why is it such a big deal that the Treasury Department may soon be unable to pay all of its bills on time?

U.S. Treasury securities are used as both currency and collateral for countless financial transactions around the world. Think dozens per minute.

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The Salt
11:08 am
Tue October 15, 2013

Brooks Brothers Steakhouse: How's That For Tasteful Shopping?

The Brooks Brothers store on Madison Avenue in New York is planning to open a 15,000-square-foot restaurant next door.
Stan Honda AFP/Getty Images

Originally published on Tue October 15, 2013 12:41 pm

Here's a way to stop hungry shoppers from leaving the store for dinner.

Brooks Brothers, the 195-year-old luxury apparel company, is looking to open a restaurant next summer next to its flagship store in Manhattan, a company spokesman tells NPR. The New York Post reports that the restaurant will be a steakhouse — a fitting culinary accompaniment for the purveyor of fine business suits for the moneyed set, we think.

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Economy
10:55 am
Tue October 15, 2013

Is The U.S. In A Debt Crisis?

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE from NPR News. I'm Michel Martin. You might've been hearing the name Malala Yousafzai. She is the Pakistani teenager who was shot at point-blank range by Taliban extremists a year ago because she dared to speak up about her desire to go to school. She has made a remarkable recovery. She is in the U.S. now. I spoke with her a few days ago and we'll bring you a portion of that conversation a little later in the program.

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The Two-Way
10:07 am
Tue October 15, 2013

Apple Hires Burberry CEO Ahrendts To Head Retail Division

Angela Ahrendts is leaving her post as CEO of Burberry to head the online and retail division at Apple. She will become the first woman in the tech company's senior executive ranks.
Mark Lennihan AP

Originally published on Tue October 15, 2013 2:45 pm

After going a year without a permanent executive in charge of its retail division, Apple said Tuesday morning that it is hiring Burberry CEO Angela Ahrendts as a senior vice president. She will be the first woman on Apple's team of senior executives.

A veteran of the fashion industry, Ahrendts, 53, is a native of New Palestine, Ind., who has headed Britain's Burberry since 2006. On Tuesday, the company reported total revenue of more than $1.64 billion in the six-month period that ended Sept. 30. Her tenure included a successful revamping of the company's online store.

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Business
3:50 am
Tue October 15, 2013

Burberry CEO To Leave For Job At Apple

Originally published on Tue October 15, 2013 5:58 am

Angela Ahrendts will oversee the expansion of Apple retail and online stores. It's a newly created position for Ahrendts, who will report directly to Apple CEO Tim Cook. Since taking over Burberry in 2006, Ahrendts has nearly tripled revenue for the company — known for its distinctive tartan patterns.

Around the Nation
3:50 am
Tue October 15, 2013

Harvest Brings Farm Families Together, Redefines Commitment

Originally published on Tue October 15, 2013 4:36 am

Transcript

STEVE INSKEEP, HOST:

Now, here's a reality about farming. From the earliest days of this country, it's been an uncertain business, and for many decades, national policies have been designed to smooth out that risk. But, of course, the risk never entirely goes away. You can never control the rain, for example, and lately the uncertainty has been growing. Corn prices are down. The farm bill is stalled in Congress and there's a sense that good times may be fading.

From Nebraska, Grant Gerlock of NET News brings us his report.

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Business
3:50 am
Tue October 15, 2013

Art Buyers Didn't Know They Were Getting Banksy Cheap

Originally published on Tue October 15, 2013 7:54 am

A street vendor outside New York's Central Park sold eight prints by the mysterious British street artist who goes by the name Banksy. Some of Banksy's most recognizable works sold for just $60. Many of the pieces are estimated to be worth more than $30,000. It was part of a social experiment.

Politics
3:50 am
Tue October 15, 2013

House Waits For Details On Senate Bipartisan Proposal

Originally published on Tue October 15, 2013 4:03 am

With the debt ceiling deadline looming just two days away, Senate leaders say they're close to a deal that would reopen the government and avert default. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell have been leading bipartisan talks on a way out of the deadlock. Even if a bipartisan agreement clears the Senate, it will likely be a hard sell to House Republicans.

Analysis
3:50 am
Tue October 15, 2013

Columnist Doubts Parties Can Resolve Fundamental Differences

Originally published on Tue October 15, 2013 4:08 am

Steve Inskeep talks to Jonathan Chait, a commentator for New York magazine about how liberals are viewing the current budget negotiations in Congress, and if they might be willing to compromise on a deal.

World
3:50 am
Tue October 15, 2013

For European Gangs, A Gem Of A Growth Industry: Jewel Heists

Police display some of the jewelry recovered from the 2008 robbery of Harry Winston jewelers in Paris. Thieves snatched loot estimated to be worth $105 million.
Francois Guillot AFP/Getty Images

Originally published on Tue October 15, 2013 3:53 pm

Thieves, using axes and smoke grenades, break into a Swiss luxury watch store and make off with more than $2 million in loot.

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Business
3:50 am
Tue October 15, 2013

Is It Too Soon To Worry About Holiday Retail Sales?

Originally published on Tue October 15, 2013 4:14 am

The calendar says October, but retailers and economists are already analyzing the holiday shopping season. With budget battles gripping Washington and an economy that's still recovering, there are mixed feelings about how far shoppers will open their wallets.

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