For the third year in a row, the poverty rate has remained stuck at about 15 percent. Nearly one in six Americans was living in poverty in 2012, according to a new report by the Census Bureau. Despite a slow-moving economic recovery, these latest numbers show that for poor Americans, there are few signs of any recovery.
The House has passed a stopgap spending bill that would keep the government open through Dec. 15. It passed almost entirely along party lines: In addition to funding the government, it calls for defunding of the Affordable Care Act.
The White House has said President Obama would veto the bill, were it to come to his desk in this form. And it most likely won't. Democrats, who control the Senate, won't pass a bill that defunds Obamacare.
Here's some food for thought: One-third of the world's food goes to waste every year. In the U.S., about 40 percent of our food gets thrown out. It's happening on the farm, at the grocery store and in our own homes.
"Joy Covey, who helped take Amazon.com Inc. public as the Internet retailer's chief financial officer, died Wednesday when her bicycle collided with a van on a downhill stretch of road in San Mateo County," the Los Angeles Times writes.
Originally published on Fri September 20, 2013 6:47 am
Wells Fargo has told 1,800 employees their services will no longer be needed in the bank's mortgage unit. The bank already cut more than 2,000 jobs in that unit last month. Wells Fargo cites lower demand for refinancing because of higher mortgage rates.
JPMorgan Chase will have to pay more than $900 million in fines for the way it handled the London Whale trading scandal. Last year, the company revealed that its traders in London had lost $6 billion, and then concealed the losses from executives.
While large fines aren't unusual, it is unusual that federal regulators forced the bank to admit to wrongdoing. But this is exactly what happened. NPR's Sonari Glinton has more.
Grand Theft Auto made video game history this week: The latest version of the game had a record $800 million in sales on its first day. As with past versions, the game is generating controversy over its glorification of violence and drugs and its demeaning portrayal of women.
But around 15 percent of its fans are women, who find much to like about the game, even if they do have some ambivalence about it.