The government shutdown is starting to hamper trade. More than 40 federal agencies involved in trade shipments — from the EPA to the Commerce Department — have trimmed their staffs, resulting in a slowdown or halt of goods.
The longer the government shutdown continues, the more sectors in our economy are being affected. More and more, the housing market is feeling the pinch. Most economists think if the federal government reopens in the next few days, the damage won't be too bad. But already, some home sales are being delayed and even derailed, as NPR's Chris Arnold reports.
Janet Yellen is President Obama's choice to replace Ben Bernanke at the Federal Reserve. The announcement came Wednesday afternoon. If confirmed by the Senate, Yellen will be the first woman to lead the Fed.
Originally published on Wed October 9, 2013 3:04 pm
Browsing farmers markets this fall, you may find some new apple varieties mixed in with the Granny Smiths, McIntoshes and Fujis. Susan Brown, head of the apple breeding program at Cornell University, estimates that there have been 130 new apples released around the world in the past six years.
This summer, she contributed two more to that tally: the SnapDragon and the Ruby Frost.
Originally published on Wed October 9, 2013 2:52 pm
Hundreds of Boston school bus drivers are back on the job following a one-day strike that sent parents scrambling to find ways to get their kids to and from school.
The drivers' union said Wednesday that it had agreed to return to work after the company contracted by the school to run bus services, Veolia Transportation Inc., agreed to a meeting with the union. About 600 drivers had walked off the job.
Originally published on Wed October 9, 2013 2:06 pm
There's been a deadly fire at a garment factory in Bangladesh — the latest in a series of such tragedies and just six months after the worst disaster in the history of the global garment industry.
At least 10 people were killed at the Aswad garment factory outside the capital, Dhaka, early Wednesday. The immediate cause was not known. This factory, like others where tragedy has struck, produced clothes for a number of Western companies.
Originally published on Wed October 9, 2013 7:18 am
Good morning, fellow political junkies. It's Day 9 of the partial federal government shutdown. Global financial markets at this point still appear to expect sanity to eventually prevail in the Washington fiscal standoff. We'll have to see if they're right.
The day's big news is expected to be President Obama's choice to head the Federal Reserve of the candidate thought to be his second choice since his first proved politically problematic.
Here are some of the more interesting politically related items that caught my eye this morning.
The owner of KFC and Pizza Hut has reported a near 70 percent drop in profits this quarter. Yum Brands relies on operations in China for three quarters of its revenue. Recent food safety issues and a bird flu outbreak there hit the company especially hard.
Originally published on Wed October 9, 2013 4:49 am
President Obama made his case for reopening the government and raising the debt ceiling at a White House news conference Tuesday afternoon. It was his first news conference in several weeks. House Speaker John Boehner spoke at the Capitol for about five minutes.
So many customers have been napping on the beds in Ikea's Chinese stores that employees have begun to change the sheets daily. One store in Hong Kong invited its customers to wear their pajamas and sleep over. About 80 of them did.