Business

3:59pm

Wed October 9, 2013
The Two-Way

Obama Nominates Janet Yellen To Head Federal Reserve

Originally published on Wed October 9, 2013 4:49 pm

President Obama claps during a press conference to nominate Janet Yellen to head the Federal Reserve in the State Dining Room at the White House on Wednesday.
Win McNamee Getty Images

Saying "American workers and families will have a champion in Janet Yellen," President Obama officially nominated her to chair the Federal Reserve, once Ben Bernanke completes his term in January.

Yellen "is the kind of person who makes everybody around her better," Obama said, adding that Yellen is "extremely well qualified" and "renowned for her good judgement."

Obama made the announcement at the White House on Wednesday, flanked by Yellen and outgoing Fed chief Ben Bernanke. If confirmed, Yellen will be the first woman to head the American central bank.

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3:25pm

Wed October 9, 2013
All Tech Considered

An Innovation For Pain Relief That's Worthy Of Some Buzz

Buzzy uses high-frequency vibration and a cold pack to make shots, well ... if not enjoyable, then at least bearable.
MMJ Labs

2:06pm

Wed October 9, 2013
The Salt

Meet Dave, A 19-Year-Old Craft Beer With A $2,000 Price Tag

Originally published on Fri October 11, 2013 6:00 pm

Hair of the Dog releases a few bottles of Dave a year. In September, the 12 bottles of Dave on sale for $2,000 apiece sold out within a few hours.
Courtesy of Alan Sprints

Hair of the Dog Brewery in Portland, Ore., makes a beer so rare, and so sought after, that it can fetch $2,000 a bottle.

It's called Dave. And no, it's not something out of a Portlandia sketch.

Dave is a barleywine — a strong, dark beer with 29 percent alcohol content. It's been aged for 19 years, first in oak barrels and then glass bottles.

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2:05pm

Wed October 9, 2013
The Government Shutdown

How The Shutdown Is Hurting The Housing Market

Originally published on Thu October 10, 2013 8:57 am

If interest rates go up due to the fear or reality of a debt default that would have major consequences for real estate sales.
Steven Senne AP

As with so many other types of economic activity, the government shutdown is causing more fear than actual harm in the housing market thus far.

But that doesn't mean things won't start going wrong in the very near future.

Various federal agencies play greater or lesser roles in real estate transactions. With most of them sidelined, simple matters such as closing on mortgages are becoming more complicated.

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2:02pm

Wed October 9, 2013
The Salt

Sweet. Tart. Crunchy: How To Engineer A Better Apple

Originally published on Wed October 9, 2013 4:04 pm

The just-released Riverbelle is one of well over 100 new apple varieties to hit markets around the world in the past six years.
Courtesy of Honeybear Brands

Browsing farmers markets this fall, you may find some new apple varieties mixed in with the Granny Smiths, McIntoshes and Fujis. Susan Brown, head of the apple breeding program at Cornell University, estimates that there have been 130 new apples released around the world in the past six years.

This summer, she contributed two more to that tally: the SnapDragon and the Ruby Frost.

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10:58am

Wed October 9, 2013
The Two-Way

Boston School Bus Drivers Back Behind The Wheel After Strike

Originally published on Wed October 9, 2013 3:52 pm

School buses sit idle in a lot at Veolia Transportation, Boston's school bus contractor, on Tuesday
Stephan Savoia AP

Hundreds of Boston school bus drivers are back on the job following a one-day strike that sent parents scrambling to find ways to get their kids to and from school.

The drivers' union said Wednesday that it had agreed to return to work after the company contracted by the school to run bus services, Veolia Transportation Inc., agreed to a meeting with the union. About 600 drivers had walked off the job.

Boston.com says:

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10:53am

Wed October 9, 2013
Parallels

A Recurring Tragedy: Death In A Bangladesh Garment Factory

Originally published on Wed October 9, 2013 3:06 pm

A Bangladeshi firefighter stands inside a damaged garment factory after it caught fire in Gazipur outside the capital, Dhaka, on Wednesday. The fire killed at least 10 people at the factory.
AP

There's been a deadly fire at a garment factory in Bangladesh — the latest in a series of such tragedies and just six months after the worst disaster in the history of the global garment industry.

At least 10 people were killed at the Aswad garment factory outside the capital, Dhaka, early Wednesday. The immediate cause was not known. This factory, like others where tragedy has struck, produced clothes for a number of Western companies.

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4:44am

Wed October 9, 2013
Business

U.S. Ban Unlikely To Affect Samsung's Bottom Line

Originally published on Wed October 9, 2013 10:22 am

The Obama administration has upheld a ban on the import and sale of some Samsung smartphones and tablets. The move represents a victory for Apple, which is embroiled in a longstanding patent dispute with Samsung. But the import ban is unlikely to affect Samsung's profits since the devices at the heart of the case are no longer big sellers.

4:44am

Wed October 9, 2013
Business

Health Scares In China Hurt Yum Brands' Profits

Originally published on Wed October 9, 2013 6:55 am

The owner of KFC and Pizza Hut has reported a near 70 percent drop in profits this quarter. Yum Brands relies on operations in China for three quarters of its revenue. Recent food safety issues and a bird flu outbreak there hit the company especially hard.

4:44am

Wed October 9, 2013
Politics

Obama, Boehner Stake Out Positions On Shutdown

Originally published on Wed October 9, 2013 5:49 am

President Obama made his case for reopening the government and raising the debt ceiling at a White House news conference Tuesday afternoon. It was his first news conference in several weeks. House Speaker John Boehner spoke at the Capitol for about five minutes.

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