There's been excitement on Wall Street about a turnaround at Yahoo since Marissa Mayer became head of the company last year. Mayer has completed high profile acquisitions and sought to improve worker morale. Second quarter revenues missed expectations as Yahoo struggled to corral advertising dollars.
Greece's two largest unions held a general strike and anti-austerity demonstrations on Tuesday. Now, the country's parliament will debate and vote on deep civil service cuts. Greece must downsize the public sector in order for it to keep getting international bailout loans.
It's semi-annual testimony time for Federal Reserve Chairman Ben Bernanke. Sounds dry but lots of people will be hanging on his every word these next two days. Markets have been on a wild ride since Bernanke delivered a news conference last month. In that speech he laid out plans to scale back the Fed's bond-buying program.
Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.
The company had spent millions of dollars supporting the independent group. The National Scrabble Association played a support role for the Scrabble community for more than 25 years. It worked with Merriam-Webster to create an official dictionary, and it refereed tournaments. Hasbro is now taking over those duties.
To learn more about these living wage bills throughout the country, we're joined by David Neumark. For years, he studied the effects of living wage laws, and he directs the Center for Economics and Public Policy at the University of California at Irvine. Welcome to the program.
DAVID NEUMARK: Thanks for having me.
CORNISH: So, first, some context. How does the living wage differ from what we're all more familiar with, the minimum wage?
Wal-Mart's long-standing plans to come to Washington, D.C., are now up in the air. The City Council passed a living wage law that would require the world's largest retailer to pay $12.50 an hour, more than the city's current $8.25 minimum wage.
The Chesapeake Bay once supplied half the world's oyster market. But pollution, disease and over-harvesting have nearly wiped out the population. It's a dire situation that's united former adversaries to revive the oyster ecosystem and industry.
Scientists and watermen have joined forces to plant underwater farms in the bay with a special oyster bred in a lab. Called triploid oysters, they have been selected for attributes like disease tolerance and fast growth.
Coca-Cola sales have slowed, in part because of the weather. The company says global soda sales rose by only 1 percent in the second quarter — less than expected. Coke's CEO cited rain and cold temperatures in the U.S., which seems to have put a damper on consumers' desire for a refreshing soft drink.