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5:58 am
Wed December 12, 2012

Business News

Originally published on Wed December 12, 2012 7:36 am

Greece's government says it will buy back nearly 32 billion euros of its bonds — that means the country would be erasing nearly $40 billion worth of debt. The country's private-sector creditor agreed to sell off the bonds, though at sharply discounted prices. Getting rid of this chunk of debt should allow Greece to get more money from the International Monetary Fund.

Business
5:58 am
Wed December 12, 2012

The Last Word In Business

Originally published on Wed December 12, 2012 7:42 am

Dave Sobelman was looking for publicity for his pub in Milwaukee. He announced a new drink. It's a Bloody Mary with celery, pickled asparagus, picked onions, shrimp, a chunk of cheese, a piece of Polish sausage and a cheeseburger slider. It sells for $9. It also comes with a chaser of beer.

Around the Nation
5:58 am
Wed December 12, 2012

Despite Protests, Michigan Passes Right-To-Work Bills

Originally published on Wed December 12, 2012 6:09 am

Michigan is now the nation's 24th right-to-work state, where unions cannot automatically collect dues or fees from workers. The governor signed the law just hours after it was approved by the state's legislature in a day marked by protests.

Business
5:58 am
Wed December 12, 2012

Federal Reserve Update

Originally published on Wed December 12, 2012 7:07 am

Federal Reserve officials were meeting this week to decide how much more credit to pump into the U.S. economy. To find out what they're likely to do — and why — Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal.

Middle East
5:58 am
Wed December 12, 2012

Protests Against Egypt's Constitution Dwindle

Originally published on Wed December 12, 2012 6:24 am

Transcript

RENEE MONTAGNE, HOST:

Egypt's protest movement against the controversial draft constitution appears to be losing steam. The opposition had hoped to fill the streets last night with protestors, but calls to demonstrate only generated a lackluster turnout. Voting on the new constitution begins today for Egyptians living abroad. Voters in Egypt are expected to begin casting ballots on Saturday as President Mohammed Morsi plans. NPR's Soraya Sarhaddi Nelson has this report from Cairo.

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Asia
5:58 am
Wed December 12, 2012

North Korea Launches Long-Range Rocket

Originally published on Wed December 12, 2012 6:45 am

Defying international warnings, North Korea successfully fired a long-range rocket on Wednesday. The launch was something of a surprise because Pyongyang had indicated technical problems might delay it.

Europe
5:58 am
Wed December 12, 2012

Russia's Defense Shuffle May Tarnish Its Military

Originally published on Wed December 12, 2012 7:32 am

The Russian military is plagued by problems: A top heavy senior officer corps and a defense industry that churns out obsolete equipment, to name just two. Analysts in Russia say the U.S. should be worried about a weaker Russia, which may be becoming a front line in the battle against Islamist extremism.

Middle East
5:58 am
Wed December 12, 2012

Obama Adds Legitimacy To Syrian Rebel Group

Originally published on Wed December 12, 2012 6:55 am

President Obama said the U.S. will recognize a newly formed Syrian opposition group as the country's legitimate representative. That will allow the group to channel international aid money into Syria as well as draw-up plans for a transitional government if the regime of Syrian President Assad falls.

Superstorm Sandy: Before, During And Beyond
3:33 am
Wed December 12, 2012

N.J. Spars Over Free Beach Access Post-Sandy

Superstorm Sandy caused massive beach erosion and damage to the Jersey shore. Some people say the beach restoration work, which will largely be paid for with federal tax dollars, will mostly help to protect expensive homes for the wealthy — people who have free access to the beach — while most communities would still be charging fees for public access.
Doug Mills AFP/Getty Images

Originally published on Wed December 12, 2012 5:58 am

At an oceanfront park in Long Branch, N.J., Tim Dillingham looks out over the beach in awe of how much the pounding waves and high waters of Hurricane Sandy have changed the Jersey shore.

Dillingham is the executive director of the American Littoral Society, a coastal conservation group. Before the storm, he says, the U.S. Army Corps of Engineers spent years building up the beaches by pumping sand onto them.

But that shouldn't be a solution to restoring the shore, he says.

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It's All Politics
3:32 am
Wed December 12, 2012

Farm Bill Becomes Fodder In 'Fiscal Cliff' Wrangling

A customer shops for nectarines at a farmers market in San Francisco.
Justin Sullivan Getty Images

Originally published on Wed December 12, 2012 5:58 am

Among the loose ends that lawmakers would like to tie up before the end of this lame-duck session is the farm bill, which is made up mostly of crop subsidies and food stamps.

The last farm bill expired in September. The Senate has passed a new one; the House has not. Farm-state lawmakers are urging leaders to include a farm bill as part of any budget deal to avert year-end tax increases and spending cuts.

But not everyone thinks that's a good idea.

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