Business

12:44pm

Thu September 12, 2013
The Two-Way

Bitter Battle Ends As Dell Shareholders OK $25 Billion Buyout

Dell Chairman and CEO Michael Dell in 2011.
Kimihiro Hoshino AFP/Getty Images

Dell Inc. shareholders, as expected, have approved founder Michael Dell's $25 billion offer to take the company private, ending a protracted battle that saw billionaire investor Carl Icahn mount his own takeover bid for the computer maker.

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12:30pm

Thu September 12, 2013
Parallels

Libya Faces Looming Crisis As Oil Output Slows To Trickle

Originally published on Thu September 12, 2013 1:47 pm

Libyan oil exports have plunged because of strikes at oil terminals on the northeastern coast. Supply has also been disrupted in the country's southern fields.
Hussein Malla AP

If you looked for stories on Libya's oil industry after the revolution that ousted Moammar Gadhafi in 2011, you'd find encouraging headlines like these:

Spared in War, Libya's Oil Flow Is Surging Back

Libya rises fast from the ashes

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12:17pm

Thu September 12, 2013
The Two-Way

D.C. Mayor Vetoes 'Living Wage' Bill Targeting Large Retailers

Originally published on Thu September 12, 2013 2:25 pm

A worker collects shopping carts at a Wal-Mart parking lot, in Bristol, Pa.
Matt Rourke AP

Washington, D.C., Mayor Vincent Gray has vetoed a controversial "living wage" bill that would have forced large retailers such as Wal-Mart to pay a 50 percent premium on the district's $8.25 per hour minimum wage.

When the bill was approved by the city council in July, Wal-Mart said it would abandon three of the six stores it planned to build in the district, claiming the required minimum $12.50 it would have to pay was too much.

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9:04am

Thu September 12, 2013
The Two-Way

Jobless Claims Hit 7-Year Low, But Data Weren't Complete

At a Target store in San Francisco last month, job seekers waited in line.
Justin Sullivan Getty Images

A plunge in the number of first-time claims for jobless benefits last week — to a 7-year-low 292,000 — can be partly explained away by "technical problems," Reuters writes:

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5:27am

Thu September 12, 2013
Around the Nation

Mill Closing Is 'Major Setback' For Ala. Town

Transcript

RENEE MONTAGNE, HOST:

The world's largest paper producer says it's closing a mill in Alabama that employs 1,100 people. International Paper Company blames the closure in the town of Courtland on a decline in the demand for paper. Stan Ingold of Alabama Public Radio reports.

STAN INGOLD, BYLINE: The small town of Courtland, Alabama is reeling after the announcement by Memphis-based International Paper to close their mill. Diane Scanland is the executive director of the Lawrence County Chamber of Commerce.

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5:12am

Thu September 12, 2013
All Tech Considered

Long Before Most, Intel Chased The Smart Watch

Originally published on Thu September 12, 2013 5:18 am

The Microma watch was the first watch with a liquid crystal display, but the limited technology of the time prevented Intel from achieving much else with it.
Courtesy of Intel

In the past couple of weeks, several major companies — Samsung, Sony, Qualcomm — have announced they will release smart watches this fall. As the name suggests, the gadgets do more than keep time.

The latest spate of computerized watches promise to do everything from working as a phone to taking photos and fielding emails. Smart watches have actually been around for a long time, but they've never really taken off as a product.

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5:12am

Thu September 12, 2013
Business

Britain Plans To Privatize Royal Mail

Originally published on Thu September 12, 2013 6:57 am

British officials unveiled plans Thursday morning to sell the majority of its centuries old postal service. It's the largest privatization of a government service the country has seen in decades. The public offering of the world's oldest postal service would take place in the coming weeks.

5:12am

Thu September 12, 2013
Business

Mexico's Tax Overhaul Has Middle Class Crying Foul

Originally published on Thu September 12, 2013 5:26 am

Mexico's president has unveiled a major shakeup of the country's tax system. His administration says it's aimed at capturing more of Mexico's paltry tax collection. Critics say it's unfairly targeting the middle class. Among the items slated for taxing: dog food and private school tuition.

5:12am

Thu September 12, 2013
Business

Village People Singer Wins Copyright Case

Originally published on Thu September 12, 2013 7:05 am

Victor Willis has finally won a share of the income from his most famous song. The New York Times reports Willis, you know him as the police officer, has emerged from six years of legal wrestling with a new copyright in hand. The victory gives him substantial control over "YMCA" and 32 other Village People tunes.

5:12am

Thu September 12, 2013
Business

Calif. City Proposes Unique Plan To Avoid Foreclosures

Originally published on Thu September 12, 2013 6:09 am

A federal judge in San Francisco on Thursday hears arguments over a radical plan to stem the foreclosure crisis. The City of Richmond is proposing to buy underwater mortgages in order to help keep local residents in their homes. If banks don't want to sell those mortgages, the city says it is prepared to invoke eminent domain to seize the mortgages.

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