The economy shrunk in the fourth quarter — for the first time in three years — and one of the critical reasons was a drop in defense spending. Apparently, contractors took precautionary steps and held onto money in case the federal government failed to avert the fiscal and tax crisis known as the fiscal cliff.
But there's now a new deadline — automatic budget cuts, known as sequestration, which may hit at the beginning of March.
Gun rights advocates demonstrate at the capitol in Harrisburg, Pa., on Wednesday as vendors pulled out of the city's Eastern Sports and Outdoor Show. Vendors were upset that the organizers of the event banned the sale and display of certain types of guns.
A boycott by vendors starting this weekend at one of the nation's largest hunting and fishing shows has led to the event's indefinite postponement. Pennsylvania businesses stand to lose tens of millions of dollars in revenue.
Some 200 shops and groups pulled out of the Harrisburg, Pa., event after organizers banned the sale and display of certain types of guns.
Originally published on Fri February 1, 2013 3:32 pm
Happy days are (or might be) here again: The Dow Jones industrial average closed above 14,000 Friday, marking the first time the stock market measure has broken that barrier at close since October 2007.
The average closed at 14,009.79. That's up more than 149 points, or about 1.1 percent for the day. The closing comes hours after the release of a new monthly unemployment report that indicated jobs grew at a faster rate late last year than previously estimated.
The iconic black cabs of London got a lift Friday when a Chinese company rescued the British automaker that manufactures the taxis. Zhejiang Geely Holding Group said it will pay $17.5 million to buy Manganese Bronze Holdings, which has been making the cabs since 1899.
Originally published on Fri February 1, 2013 11:12 am
The winter may not be over, but economists are looking to spring for good news when it comes to jobs. Host Michel Martin speaks with NPR Senior Business Editor Marilyn Geewax about whether a strengthening housing market could boost stalling jobs numbers.
Originally published on Sat February 2, 2013 3:43 pm
Here in the depths of winter, U.S. economic numbers aren't looking so hot. This week, new reports showed growth started to freeze up last fall, and the unemployment rate rose a bit in January, to 7.9 percent.
But most economists say you shouldn't let those cold facts fool you: This spring's data could look much brighter if the housing market continues to heat up.
Originally published on Fri February 1, 2013 12:39 pm
Anyone who gives up gluten, either by choice or medical necessity, will inevitably feel a twinge of regret bidding adieu to bread, pasta or pastries. But for some, the greatest hardship may be saying no to beer — especially at times like Super Bowl Sunday, when having a cold one in hand is part of many people's game day tradition.
So it's no small thing that a growing number of brewers are offering gluten-free beers that are both tasty and satisfying.