The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.
Monday marked the start of the application period for H1B visas — those are the work permits granted to 85,000 skilled foreigners each year. Many of them work in the high-tech industry. And for the first time since the financial crisis hit in 2008, the quotas for the H1B are expected to be filled in a single week.
David Greene talks to Yvette Aehle, director of the Southwest Georgia Regional Airport, about her plans to shut down the airport's air traffic control tower. Because of sequestration, the FAA will no longer pay for air traffic controllers at 144 smaller airports.
Steve Inskeep talks to Zanny Minton Beddoes, of The Economist, about the long-term impact of the Cyprus crisis on European economies. Beddoes offers the view from Germany. That country is now turning its attention to its own general elections in September.
India's Supreme Court says drug maker Novartis can't hold onto its patent for the pricey cancer drug Gleevec simply by tweaking its chemical formula. That means generic drug makers can keep making a form of the drug at a tenth of Novartis's price — for the Indian market and for other low- and middle-income markets. Consumer advocates call it a major advance for access to generic drugs. Novartis and drug industry allies say it will chill companies' willingness to produce innovative products.