Business

1:06pm

Thu October 17, 2013
Planet Money

U.S. Is The World's Largest Producer Of Natural Gas. Here's What That Means

Originally published on Sat October 19, 2013 12:37 am

Quoctrung Bui

Natural gas production in the U.S. is going through the roof. The U.S. now produces more natural gas than any country on Earth, according to a recent report from the U.S. Energy Information Administration.

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11:39am

Thu October 17, 2013
The Two-Way

Obama Calls For Budget, Immigration Reform By Year's End

Originally published on Thu October 17, 2013 12:50 pm

At the White House on Thursday, President Obama said "the American people are completely fed up with Washington."
Charles Dharapak AP

President Obama slammed the partisan standoff "spectacle" that he said had damaged the economy and America's international credibility, and called on Congress to pass a comprehensive budget, immigration reform and a farm bill by year's end.

He praised "Democrats and responsible Republicans who came together" to pass a last-minute deal to reverse a partial government shutdown and narrowly avert the expiration of the federal borrowing authority.

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11:12am

Thu October 17, 2013
It's All Politics

10 Takeaways From The Fiscal Fight

Originally published on Thu October 17, 2013 12:50 pm

With the shutdown-debt ceiling fight over, Speaker John Boehner, R-Ohio, appeared to strengthen his hand within the House GOP caucus but weaken it outside that group.
Evan Vucci AP

With the double crises of a partial government shutdown and a potential debt default resolved, it's a good time to consider some of the lessons we learned from the dysfunction and drama of recent weeks.

Here are 10 of them:

Shutting Down The Government Is Not A Winning Political Strategy

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10:29am

Thu October 17, 2013
The Two-Way

Economists: Shutdown Will Shave Half-Percent From Quarterly GDP

Originally published on Thu October 17, 2013 3:06 pm

The government shutdown has taken a toll on the nation's economy and despite a deal that sidesteps a debt default and restarts the government (at least for a few months), growth forecasts for the last quarter of the year are being scaled back.

Economist Mark Zandi of Moody's Analytics has shaved his gross domestic product forecast from a 2.6 percent annualized rate to 2.1 percent for the last three months of the calendar year.

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4:52am

Thu October 17, 2013
Business

Grandma Exodus: German Seniors Look To Poland For Care

Originally published on Thu October 17, 2013 7:43 pm

Two German women chat in the gardens of a senior care home in Berlin. Germany is grappling with a rapidly aging population: By 2050, almost a third of Germans will be 65 years or older, and a growing "Grandma export" trend has set hands wringing.
Sean Gallup Getty Images

A handful of German and Polish residents at a nursing home in the Polish mountain town of Szklarska Poreba play a Scrabble-like game using blocks with large letters.

The seniors are tended to by Polish workers who offer a steady supply of smiles, hugs and encouragement.

Leonardo Tegls says such personal attention makes this nursing home, Sun House, special. The 87-year-old Dutch-born immigrant to Germany says he first learned about the Polish nursing home from a TV ad.

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4:38am

Thu October 17, 2013
Business

U.S. Economy Takes A Hit After Partial Government Shutdown

Originally published on Thu October 17, 2013 10:23 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with a hit to the U.S. economy.

(SOUNDBITE OF MUSIC)

MONTAGNE: Standard and Poor's estimates that the 16-day-long government shutdown cost the U.S. economy roughly $24 billion. Because of that, the credit rating agency says it is lowering its estimate for U.S. economic growth in the fourth quarter to just over 2 percent. That's down .6 percentage points from its estimate before the shutdown. Transcript provided by NPR, Copyright NPR.

4:38am

Thu October 17, 2013
Business

Financial Markets React Positively To U.S. Debt Deal

Originally published on Thu October 17, 2013 10:23 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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4:38am

Thu October 17, 2013
Business

British Police Auction Off Some Confiscated Luxury Assets

Originally published on Thu October 17, 2013 10:23 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is: diamonds on your timepiece.

Police in Great Britain are selling the luxury assets of Vincent Graham. He operated a drug ring in England before police arrested him a couple of years ago. Upon his arrest, police also seized some of Graham's personal belongings: jet skis, motorcycles, a Lamborghini and other luxury cars, items that Graham will no longer needs now that he's in prison.

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4:38am

Thu October 17, 2013
Politics

Defeat Isn't Easy For Conservative Republicans To Admit

Originally published on Thu October 17, 2013 10:23 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

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4:38am

Thu October 17, 2013
Politics

Obama Sticks With 'No Ransom' Strategy, Comes Out Ahead

Originally published on Thu October 17, 2013 10:23 am

Transcript

STEVE INSKEEP, HOST:

Throughout the battle over the government shutdown and debt limit, President Obama repeated his view many times: So long as Republicans were threatening default, he would not negotiate.

PRESIDENT BARACK OBAMA: You don't negotiate by putting a gun to the other person's head.

INSKEEP: That strategy paid off for the Whitehouse, but it's not a strategy the president comes by naturally - as NPR's Scott Horsley reports.

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