Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.
Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.
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And I'm David Greene. Good morning. Pork was on the menu on Capitol Hill yesterday, but not the kind Congress produces. Lawmakers on the Senate Agriculture Committee were focused on the takeover of Smithfield Foods by a big Chinese company.
In Chinese culture, filial piety is the virtual of respect for one's elders. In fact, a new Chinese law requires adults to provide financial and emotional support to their elderly relatives, which brings us to today's last word in business: outsourcing tender loving care.
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That's right. This new law is giving entrepreneurs a business opportunity. The Wall Street Journal reports that China's version of eBay now has listings that offer services like running errands or standing in line.
Wal-Mart is changing its plans for the nation's capital. The company says it won't be building stores in Washington, D.C., after the city council passed a law requiring big-box retailers to pay what's known as a living wage.
Patrick Madden of member station WAMU has the story.
PATRICK MADDEN, BYLINE: Before the vote, Wal-Mart issued city lawmakers an ultimatum: kill the living wage bill, or it would pull the plug on three stores it has planned to build in the nation's capital.
This is ALL THINGS CONSIDERED from NPR News. I'm Robert Siegel.
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Some of the country's biggest retailers have unveiled an initiative they say will improve conditions for workers on the other side of the world. The move by Wal-Mart, Target, and others is intended to boost safety in Bangladesh garment factories.
NPR's Jim Zarroli reports the plan is a response to the devastating building collapse that killed more than 1,100 people in April.
The Senate Agriculture Committee met Wednesday afternoon to hear testimony about the acquisition of Smithfield Foods by a Chinese company. Smithfield CEO Larry Pope tried to defend the proposed deal, but most committee members made their opposition clear.
Originally published on Fri July 12, 2013 12:56 pm
Credit Heather Rousseau / NPR
We have to confess: When we heard that Twinkies will have nearly double the shelf life, 45 days, when they return to stores next week, our first reaction was — days? Not years?
Urban legend has long deemed Twinkies the cockroaches of the snack food world, a treat that can survive for decades, what humanity would have left to eat come the apocalypse. The true shelf life — which used to be 26 days — seems somewhat less impressive by comparison.
The Federal Reserve must ensure the U.S. job market is in full health before it begins to ease its aggressive bond-purchasing program, its top officials said at the Fed's latest policy meeting. This afternoon, the central bank released the minutes of the Federal Open Market Committee meeting of June 18 and 19.
In that session, the officials cited a moderate pace of economic expansion, but said it was coupled with an unemployment rate that remains high.