And today's last word in business is a home run for Major League Baseball.
ESPN agreed yesterday to pay the baseball association $5.6 billion over the next eight years for broadcast and digital rights to games. That is a record, we're told, for baseball broadcasting rights. It is also about double what ESPN currently pays to broadcast Major League Baseball games, although the sports network will be getting a lot more for its money this time around - more international rights, radio rights, rights to more games.
NPR's business news starts with upping the oil output.
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GREENE: The group of seven most industrialized nations are urging oil producing countries to ramp up production. In a statement yesterday, the so-called G-7 nations warned of the risks, quote, "posed by elevated oil prices." Demand for gasoline usually starts to wane at the end of the summer but right now gasoline prices are hitting new highs. Oil prices are surging because of tensions with Iran and the ongoing concern about Hurricane Isaac.
California's governor, Jerry Brown, has announced a set of long-awaited reforms to his state's underfunded public pension system. The Democratic governor says the package will save the state about $30 billion in the future. More details of the cost savings are expected later today.
Brown is hoping the reforms will pave the way for another of his policy goals, as NPR's Richard Gonzales reports.
Hundreds of protestors rallied, this week, in Albany, New York. They are trying to put pressure on New York's Democratic governor Andrew Cuomo. They want him to reject a plan to expand natural gas drilling. Specifically, Cuomo's expected to decide in the coming days whether to allow more aggressive hydraulic fracturing to reach gas deposits that are locked deep underground. As North Country Public Radio's Brian Mann reports, people on both sides are mounting eleventh-hour campaigns to try and sway the governor.
Many travelers using United Airlines faced delays Tuesday, but they weren't connected to Hurricane Isaac. Instead, the airline's computer network crashed, leaving large parts of its system paralyzed Tuesday afternoon.
First noted around 2:15 p.m. EDT, the problems persisted until about 6:30 p.m. EDT, when the airline tweeted that it is "in the process of resuming operations and rebooking customers."
Mitt Romney stands by his decision not to release more than two years of his tax returns. Democrats keep hammering away, suggesting the Republican presidential candidate has something to hide. Well, last week, the website Gawker released over 900 pages of financial documents related to Bain Capital. That's the private equity firm Romney co-founded.
Now that Isaac has passed by Tampa, the Republican National Convention gets underway today, but voters living in swing sates have already heard plenty of messages from both political parties - unprecedented waves of ads.
NPR's Steve Henn reports there is an app - an application that can help you figure out who's behind them.
STEVE HENN, BYLINE: If this is what your TV sounds like...
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ANNOUNCER #1: Two wars. Tax cuts for millionaires. Death.
NPR's business news starts with an eye on oil prices.
Isaac is not expected to grow beyond a Category 1 hurricane and that is easing some concerns it could damage oil and gas refineries along the Gulf Coast. Still, several have shut down operations and will probably be offline for a couple days. Depending on Isaac's severity, analysts say gas prices could go up by about 10 cents or so in the coming weeks. Transcript provided by NPR, Copyright National Public Radio.
OK. Microsoft had to know there would be critics when it released its new logo late last week. And today's last word in business is: mixed reviews.
DAVID GREENE, HOST:
Microsoft used the old logo for 25 years. The tech world has certainly changed a lot since then. PCs, not iPads, where the big thing then and Microsoft dominated the software for them. Now, Microsoft says it's time to change its look.