Business

4:37am

Tue October 8, 2013
Around the Nation

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

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4:37am

Tue October 8, 2013
Politics

Democrats Focus Government Shutdown Blame On Boehner

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

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

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

And the partial government shutdown has brought intense attention to House speaker John Boehner. He's working to keep Republicans united in a battle against President Obama.

INSKEEP: People close to Boehner have made it clear he did not want this fight. But urged by other lawmakers, Boehner dug in, insisting that President Obama must negotiate.

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4:37am

Tue October 8, 2013
Business

Measure To Fix 'Pint-Size' Problem In Michigan

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is pint-sized.

A bill introduced in Michigan would require that pints of beer be actual pints of beer - that is a full 16 ounces.

RENEE MONTAGNE, HOST:

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4:37am

Tue October 8, 2013
Business

Job Cuts In The Works At Alcatel-Lucent

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with high-tech job cuts.

(SOUNDBITE OF MUSIC)

INSKEEP: The French and American telecommunications manufacturer, Alcatel-Lucent, confirmed this morning it plans to cut 10,000 jobs worldwide. A company statement said 2,100 of those cuts will be from its operations in North and South America.

Now Alcatel-Lucent has been losing money for years. About a quarter of its staff are based in the United States, where the company runs the Nobel Prize-winning Bell Labs research facility.

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4:37am

Tue October 8, 2013
Research News

Theorists Compare Government Shutdown To A Not-So-Fun Game

Originally published on Tue October 8, 2013 8:26 am

Transcript

STEVE INSKEEP, HOST:

So, we're in the second week of the government shutdown, and just over a week from now, federal borrowing authority expires, making it possible the federal government could fail to pay many of its legal obligations that Congress previously approved. At the center of both issues is House Speaker John Boehner, who last week accused Democrats of letting the shutdown continue because Democrats felt they were winning.

REPRESENTATIVE JOHN BOEHNER: This isn't some damn game.

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4:37am

Tue October 8, 2013
Law

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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3:05am

Tue October 8, 2013
Around the Nation

Phase 2 Of BP Trial Focuses On Amount Of Spilled Oil

Originally published on Tue October 8, 2013 12:48 pm

The Deepwater Horizon oil rig is seen burning in the Gulf of Mexico in April 2010. A second phase of the BP trial, which started this week, looks at just how much oil spilled into the Gulf.
Gerald Herbert AP

In a New Orleans courtroom this week, BP and the federal government are arguing over how much oil gushed into the Gulf of Mexico after the Deepwater Horizon explosion in 2010.

Oil flowed from the out-of-control well for nearly three months. Just how much oil spilled will be key in determining the amount BP will have to pay in federal fines and penalties.

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5:56pm

Mon October 7, 2013
Economy

In A Debt Crisis, U.S. May Have To Decide Payment Priorities

Originally published on Wed October 9, 2013 12:02 pm

House Republicans have proposed directing the Treasury Department to pay bondholders first if there is not enough money available to pay all the nation's debts.
Carolyn Kaster AP

The government is just 10 days away from defaulting on its debt. Treasury Secretary Jack Lew has said that by Oct. 17, the department will likely have less money on hand than it needs to pay all its bills.

"The reality is that if we run out of cash to pay our bills, there is no option that permits us to pay all of our bills on time, which means that a failure of Congress to act would for the first time put us in a place where we're defaulting on our obligations as a government," Lew said on NBC's Meet The Press on Sunday.

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4:20pm

Mon October 7, 2013
Business

Japanese Airlines Makes Deal To Buy Airbus Planes

Originally published on Tue October 8, 2013 11:18 am

Transcript

MELISSA BLOCK, HOST:

Japan Airlines stunned the aviation world today by announcing that for the first time in the company's history, it will buy new wide-bodied jets from Airbus, the European aircraft manufacturer. The deal is worth billions and it's a big setback for Boeing, which has long dominated the Japanese aviation market. NPR's David Schaper reports.

DAVID SCHAPER, BYLINE: Airbus president and CEO Fabrice Bregier was positively beaming in Tokyo this morning in an interview with financial network CNBC.

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4:10pm

Mon October 7, 2013
Planet Money

Weirdly, A Default Could Make Investors More Eager To Lend The U.S. Money

J.P. Morgan

With the debt ceiling threshold 10 days away, the big question on everyone's mind is: what will happen if the government defaults? The story usually goes like this:

1. Congress does not raise the debt ceiling in time.

2. The U.S. defaults on its debt.

3. Financial markets immediately freak out because U.S. debt is no longer "risk free."

4. As a result, investors will start demanding higher interest rates to lend money to the U.S. government

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