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And I'm Linda Wertheimer.
More now on this morning's merger announcement by American Airlines and U.S. Airways. The deal would create the biggest air carrier in the U.S., with an estimated value of $11 billion. The merger must still be approved by regulators. And since American Airlines is working its way out of bankruptcy, a federal bankruptcy judge will also have to OK the deal.
Our last word in business today is love, marriage and taxes. Just in time for Valentine's Day and tax filing season, the independent Tax Policy Center has updated its online marriage bonus and penalty calculator.
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The new numbers reflect the latest changes in the tax code. Couples considering a walk down the aisle might want to take a look at this before saying I do.
Originally published on Thu February 14, 2013 9:38 am
By Reese Erlich
The movement opposing Bahrain's autocratic monarchy is gaining strength in what has become the longest-running uprising of the Arab Spring. Feb. 14 marks the revolt's second anniversary. The opposition predicts more demonstrations on Friday.
Two years ago, a diverse movement that included both Shiite and Sunni Muslims united to oppose the dictatorial rule of the Sunni ruling family. The royals have successfully used divide-and-rule tactics, and today the opposition is largely Shiite.
The boards of American Airlines and US Airways just approved a merger of the two airlines. But the deal still has to win the approval of antitrust regulators at the Justice Department — regulators who last month sued to stop a merger between the beer giants Anheuser-Busch InBev and Grupo Modelo, which brews Corona.
The antitrust division has dozens of economists on staff. Their job, essentially, is to figure out whether a merger would reduce competition so much that a company could raise prices without losing business to competitors.
Thursday is the last day of New York Fashion Week, and some cutting-edge design will be presented in the tents at Lincoln Center — literally. Standing on the runway will be computer programmer types rather than models. This follows an event that kicked off Fashion Week — something called a "hackathon."
A hackathon, explains Liz Bacelar, is a "fast-paced competition in which graphic designers, software developers and people with ideas, they come together to build an app in 24 hours. "
The United States puts more people behind bars than any other country, five times as many per capita compared with Britain or Spain.
It wasn't always like this. Half a century ago, relatively few people were locked up, and those inmates generally served short sentences. But 40 years ago, New York passed strict sentencing guidelines known as the "Rockefeller drug laws" — after their champion, Gov. Nelson Rockefeller — that put even low-level criminals behind bars for decades.
Three years after the devastating Port-au-Prince earthquake, one of the largest international relief projects in Haiti isn't anywhere near where the quake hit. It's an industrial park on the north coast halfway between Cap-Haitien and the border with the Dominican Republic.
Aid agencies are pouring millions of dollars into the project to encourage people to move out of the overcrowded capital and create jobs. Critics, however, say the jobs don't pay enough to lift people out of poverty.