Business

3:31am

Thu December 6, 2012
Economy

What Should The U.S. Learn From Europe's Woes?

Originally published on Thu December 6, 2012 4:21 pm

French President Francois Hollande (left) and German Chancellor Angela Merkel take part in a bilateral meeting at the EU headquarters in Brussels on Nov. 22 as part of a European budget summit.
Bertrand Langlois AFP/Getty Images

As President Obama and Capitol Hill lawmakers assess the need for spending cuts and tax increases against the risk of triggering a new recession, they might look across the Atlantic for insights from those who have already grappled with those budgetary questions.

The problem of excessive government debt has swamped economies across Europe and forced countries to take severe measures to cut their deficits. The first lesson from their "fiscal consolidation" experiences: It will hurt.

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5:33pm

Wed December 5, 2012
It's All Politics

Obama And House GOP Engage In Fiscal Cliff Talks, Just Not With Each Other

Originally published on Wed December 5, 2012 6:30 pm

President Obama is introduced to the Business Roundtable by Boeing CEO Jim McNerney in Washington on Wednesday.
Charles Dharapak AP

The president and House Republicans continued to snipe at each other Wednesday over the impending set of automatic tax hikes and spending cuts known as the fiscal cliff. They traded accusations and blame during another day with plenty of talk, but — until late in the day, at least — no negotiations.

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5:05pm

Wed December 5, 2012
The Two-Way

Red Alert: Aerospace Industry Counts Down to Cutbacks

It's red alert time for aerospace industry executives, workers and contractors.

As they mingled today at the Aerospace Industries Association's annual Year-End Outlook luncheon at a Washington Grand Hyatt, the bright red electronic digits kept counting down for them.

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4:44pm

Wed December 5, 2012
Economy

A Thin Line: Economic Growth Or Corporate Welfare?

Originally published on Fri December 7, 2012 8:59 am

In her series for The New York Times, reporter Louise Story says that the manufacturing sector — automakers, in particular — benefit the most from incentive packages.
Ricardo Azoury iStockphoto.com

In her new series for The New York Times called "The United States of Subsidies," investigative reporter Louise Story examines how states, counties and cities are giving up more than $80 billion each year in tax breaks and other financial incentives to lure companies or persuade them to stay put.

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2:30pm

Wed December 5, 2012
The Two-Way

Socialism, Capitalism: Merriam-Webster's Odd-Couple Words Of The Year

Originally published on Wed December 5, 2012 9:12 pm

A demonstrator carries a sign calling people to "resist" President Barack Obama perceived socialist policies during a march of supporters of the conservative Tea Party movement in Washington.
Nicholas Kamm AFP/Getty Images

The dictionary Merriam-Webster has declared an incongruous pair their words of the year: Socialism and capitalism.

"There's no surprise there that politics was in people's minds," the dictionary's Editor-at-large Peter Sokolowski told CBS News when making the announcement.

Sokolowski said that the dictionary, which bases its decision on what people are looking up in their online edition, chose two words for the first time because they trended together.

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12:04pm

Wed December 5, 2012
Economy

How Helpful Is Extending Unemployment Benefits?

Originally published on Wed December 5, 2012 12:30 pm

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin and this is TELL ME MORE from NPR News. Coming up, for years now we've been talking about ways to close the achievement gap. Now some states are asking to set standards based on race. You can imagine why this is controversial. So we'll try to learn more about this in just a few minutes.

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11:09am

Wed December 5, 2012
The Two-Way

Citigroup Cutting 11,000 Jobs, Taking $1.1 Billion In Charges

Originally published on Wed December 5, 2012 2:48 pm

Chris Hondros Getty Images

Saying it needs to "further reduce expenses and improve efficiency across the company," Citigroup announced today that it is eliminating about 11,000 jobs — 4 percent of its global workforce.

The banking giant also said it is expects to take "pre-tax charges of approximately $1 billion in the fourth quarter of 2012 and approximately $100 million of related charges in the first half of 2013."

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8:56am

Wed December 5, 2012
The Two-Way

118,000 Jobs Added To Payrolls Last Month, Report Signals

A "closed" sign at a coffee shop in New York City, where many businesses had to shut down for at least a few days before, during and after Superstorm Sandy.
Carlo Allegri Reuters /Landov

There were 118,000 jobs added to private employers' payrolls in November, according to the latest ADP National Employment Report.

That's slower growth than in October, when ADP's employment measure grew by 157,000 jobs.

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7:25am

Wed December 5, 2012
The Two-Way

Deal Struck To End L.A. Port Strike; Walkout Was Delaying Billions In Goods

Originally published on Wed December 5, 2012 8:58 am

Work can start again: This ship, loaded with containers, was sitting beneath idle cranes Tuesday at the Port of Los Angeles.
Robyn Beck AFP/Getty Images
  • From 'Morning Edition': Kirk Siegler and Renee Montagne

A week-old strike that "crippled the ports of Los Angeles and Long Beach" and kept about $1 billion worth of goods a day from arriving on shore is set to end today.

"We've got a deal and people are going back to work," Los Angeles Mayor Antonio Villaraigosa announced late last night, as our colleagues at Southern California Public Radio report.

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5:04am

Wed December 5, 2012
Around the Nation

Deal Reached In Calif. Port Workers Strike

Originally published on Wed December 5, 2012 9:09 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION from NPR News. I'm David Greene.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

After eight days and billions of dollars in lost business, the shutdown at the nation's busiest port hub is over. Striking clerks at the adjacent ports of Los Angeles and Long Beach have reached a tentative agreement with managers. At issue: worries about outsourcing jobs. The clerks, hundreds of them, and ten thousand longshoremen, who refused to cross picket lines, head back to work this morning.

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