Here in the U.S., analysts are trying to figure out what affect an oil refinery fire could have on gasoline prices. The fire erupted Monday night at an important refinery in Richmond, California. It's owned by Chevron Corporation. It was extinguished within five hours, but could have a lasting impact.
NPR's Richard Gonzales reports that gas prices are expected to shoot up in an already expensive market.
NPR's business news starts with markets rather optimistic.
Stock market averages in Asia closed higher today for the third day in a row. There's apparently a feeling that the U.S. and Europe are poised to make moves that will help the global economy. Investors are betting that the Federal Reserve will launch new stimulus action. And they're also betting that some decisive action will be taken soon to reign in the fiscal crisis in Europe.
And our last word in business is: shocking - positively shocking.
STEVE INSKEEP, HOST:
Any James Bond fan knows that's a line from (Singing) "Goldfinger."
It's what Bond says after electrocuting a henchmen in a bathtub.
MONTAGNE: Britain has the Olympics, and this fall, it will have a 24-hour James Bond channel. British broadcaster BSkyB is launching the channel for the month of October to mark the 50th anniversary of the Bond franchise.
A drop in natural gas prices is hurting balance sheets across the petroleum industry. The second-largest natural gas producer in the United States — Oklahoma City-based Chesapeake Energy — has been hit especially hard.
After 23 consecutive years of touting its increasing natural gas production, Chesapeake CEO Aubrey McClendon told investors during a conference call Tuesday that the company projects its gas output will drop about 7 percent in 2013.
At a time when European banks already are struggling, three huge British banks recently have been charged with engaging in bad practices or flat-out corruption. Barclay's had its LIBOR scandal, HSBC had its drug money scandal and now Standard Bank is being accused of money laundering. What's going on in London and what are the potential impacts on the U.S. economy?
The Cyber Security Act of 2012 failed in the Senate, despite growing alarm in the intelligence community about the vulnerabilities of the nation's infrastructure. The episode highlights a unique problem for politicians concerned about the balance between national security and federal regulation.
Mat Honan talks to Morning Edition co-host Renee Montagne
I spent some time at the Defcon and Black Hat conferences in Las Vegas over the past few weeks listening to hackers describe the myriad security holes and flaws in some of the most popular products and applications that roam free in the online world.
While this experience made me nervous, so far at least I have fared better than writer Mat Honan.
Steve Inskeep speaks with Jim Zarroli on 'Morning Edition'
As its stock tumbled today following word that New York State regulators have labeled it a "rogue institution" that allegedly hid about 60,000 secret transactions involving $250 billion in Iranian funds, Britain's Standard Chartered Bank strongly denied the accusations.
It "rejects the position or portrayal of facts as set out in the order," the bank said.
Dr. Atul Gawande spends a lot of time thinking about how to make health care better. A couple of years ago his best-selling book, "The Checklist Manifesto," demonstrated how following a simple list could prevent sometimes-deadly medical mistakes. Now he's looking at a bigger picture - the entire health-care system.
Financial regulators in New York said yesterday they may bar a British bank from doing business in the state. They said that because the bank allegedly laundered some $250 billion in Iranian money through its branch in Manhattan. The bank is Standard Chartered Bank. It does much of its business in Asia, Africa and the Middle East. But like any global bank, it wants to have a foothold in the U.S. markets, and that foothold is now in danger. For more, we turn to NPR's Jim Zarroli in New York.