Originally published on Thu January 3, 2013 7:28 am
The credit-ratings agency Moody's said this weeks' deficit reduction deal did not produce "meaningful improvement" to the issue at hand. That issue: the debt burden and economic output. Moody's warned that if improvements were not made, the agency could downgrade the U.S. credit rating.
And that brings us to today's last word in business: melty money.
The Bank of Canada released new hundred dollar bills in 2011. The high-tech bank notes are made of polymers. They're sort of like plastic bills. The goal was to make them indestructible. They were put through a lot of tests. They were put through the wash, frozen, boiled. But some Canadians who have their hands on the money say the plastic bills melt when subjected to extreme heat.
Originally published on Thu January 3, 2013 6:50 am
On Friday, new unemployment numbers will be released for December. In last month's report, the unemployment rate dropped to 7.7 percent, a four-year low. For a preview of the labor market prospects for the new year, Steve Inskeep talks to Nariman Behravesh, chief economist at IHS Global Insight, an international consulting firm.
From NPR News, it's ALL THINGS CONSIDERED. I'm Audie Cornish.
ROBERT SIEGEL, HOST:
I'm Robert Siegel. And here's a case of an old business colossus buying up a scrappy innovator. Avis, the traditional car rental company, is buying Zipcar for $500 million. Zipcar is the car-sharing company with the slogan: Wheels when you want them. NPR's Jim Zarroli reports the deal illustrates how car sharing is reshaping the rental business and drawing in a new demographic.
Though more big battles lie ahead in Washington, Wall Street is following the lead of financial markets around the world in giving a thumbs-up to the deal that kept the federal government from going completely over the so-called fiscal cliff.