Business & Education

Business
3:38 am
Thu October 17, 2013

Financial Markets React Positively To U.S. Debt Deal

Originally published on Thu October 17, 2013 9:23 am

Transcript

RENEE MONTAGNE, HOST:

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.

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Technology
2:06 am
Thu October 17, 2013

If A Tech Company Had Built The Federal Health Care Website

Originally published on Mon October 21, 2013 4:25 pm

HealthCare.gov was meant to create a simple, easy way for millions of Americans to shop for subsidized health care.

Instead, in a little two more than weeks, it has become the poster child for the federal government's technical ineptitude.

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The State Of The American Small Business
2:05 am
Thu October 17, 2013

The Roots Of Franchising Took Hold In A Hair Salon Chain

Gary Robins sits in the chair of his Supercuts salon in Media, Pa., one of 41 he owns throughout Philadelphia and Delaware.
Will Figg for NPR

Originally published on Thu October 17, 2013 9:23 am

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.

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The Salt
5:39 pm
Wed October 16, 2013

So What Happens If The Movement To Label GMOs Succeeds?

Labels on bags of snack foods indicate they are non-GMO food products.
Robyn Beck AFP/Getty Images

Originally published on Wed October 16, 2013 7:09 pm

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.

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Economy
3:54 pm
Wed October 16, 2013

Economists Say Fiscal Fits And Starts Hurt U.S. Growth

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.
Seth Wenig AP

Originally published on Wed October 16, 2013 6:45 pm

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.

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The Two-Way
3:49 pm
Wed October 16, 2013

Reporter Glenn Greenwald, eBay Founder Forming New Venture

Reporter Glenn Greenwald, who became famous reporting on NSA contractor Edward Snowden's disclosure of the NSA's government surveillance programs, is leaving the Guardian to form a new media company with eBay founder Pierre Omidyar.
Vincent Yu AP

Glenn Greenwald, the reporter and blogger who broke the story on the National Security Agency's massive surveillance program, is leaving Britain's Guardian newspaper to join a new media venture.

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The Salt
1:34 pm
Wed October 16, 2013

Why U.S. Taxpayers Pay $7 Billion A Year To Help Fast-Food Workers

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.
Richard Drew AP

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).

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It's All Politics
12:56 pm
Wed October 16, 2013

Good Cop, Bad Cop Routine Gets A Result For Obama And Reid

President Obama and Senate Majority Leader Harry Reid, D-Nev., shared the same goals but had notable stylistic differences in their approaches to the fiscal fight.
Carolyn Kaster AP

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.

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Planet Money
7:44 am
Wed October 16, 2013

When Will The Government Run Out Of Money?

Quoctrung Bui

Originally published on Wed October 16, 2013 11:19 am

In the course of any given month, the government collects billions of dollars in taxes, spends billions more, and borrows money to cover the difference between what it collects and what it spends.

If Congress doesn't raise the debt ceiling soon, the government won't be able to borrow money to cover the difference anymore and won't be able to pay all of its bills.

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The Two-Way
6:35 am
Wed October 16, 2013

As It Happened: The Fight Over The Debt Ceiling, Shutdown

Senate Minority Leader Sen. Mitch McConnell, R-Ky., walks to the Senate floor after agreeing to the framework of a deal to avoid default and reopen the government, on Capitol Hill on Wednesday.
Carolyn Kaster AP

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.

Our Original Post Continues:

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Politics
4:58 am
Wed October 16, 2013

Debt Ceiling Deal Depends On U.S. Senate

Originally published on Wed October 16, 2013 7:00 am

Transcript

RENEE MONTAGNE, HOST:

This is MORNING EDITION from NPR News. I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. The prospects for a deal to avoid default and reopen the government now depend on the U.S. Senate, whose members include Saxby Chambliss, Republican of Georgia, who's on the line. Senator, welcome back to the program.

SENATOR SAXBY CHAMBLISS: Good to be with you, Steve.

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Business
3:42 am
Wed October 16, 2013

Banks Ease Purse Strings On Luxury Home Loans

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

Transcript

RENEE MONTAGNE, HOST:

And for the first time in decades, interest rates for loans on jumbo homes are lower than rates for a typical mortgage. And because of that, the luxury market is the fastest growing home loans sector.

From member station KJZZ in Phoenix, Peter O'Dowd reports.

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Economy
3:33 am
Wed October 16, 2013

When Will Congress' Inaction Push U.S. Into Default?

Originally published on Wed October 16, 2013 7:41 am

Transcript

STEVE INSKEEP, HOST:

Now, Treasury Secretary Jack Lew has warned Congress tomorrow, the 17th of October, is the day the government will likely have only about $30 billion on hand, which sounds like a lot. But sometimes, daily expenditures get a lot higher than that. This does not mean the government will default tomorrow if Congress does not act. As NPR's John Ydstie reports, the U.S. could manage to get through the next few days. But without a deal, the threat of default rises sharply next week.

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Politics
3:28 am
Wed October 16, 2013

No Deal On Tuesday Leads To Day 16 Of Shutdown On Wednesday

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

With the threat of a government default looming, House leaders tried to take the upper hand in the standoff with a bill appealing to their most conservative members. They failed, resulting in chaos in the House and giving the initiative back to the Senate.

Asia
3:11 am
Wed October 16, 2013

China Gives Mesaured Response To Possible U.S. Default

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

China is the biggest foreign holder of U.S. debt — totaling more than $1.3 trillion. Chinese media are using the American budget struggle as an implicit justification for China's system.

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