NPR Business

The Two-Way
5:51 pm
Tue January 1, 2013

Inside The Fiscal Cliff Budget Compromise Bill: Tax Cuts and Tax Hikes

Originally published on Wed January 2, 2013 6:44 am

The budget compromise bill that is meant to allow the U.S. government to avoid higher tax rates and austere budget cuts has tax rates as its central issue, with discussions about more spending cuts, and the federal debt limit, put off until the coming weeks.

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The Two-Way
8:45 am
Tue January 1, 2013

Ball In Boehner's Court After Senate Approves Fiscal Cliff Deal

President Barack Obama and Vice President Joe Biden make a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House late Tuesday evening.
Charles Dharapak AP

Originally published on Wed January 2, 2013 4:23 am

The House of Representatives voted 257-167 late Tuesday to pass a Senate-approved compromise deal that stops large tax increases for 99 percent of Americans, and delays massive spending cuts for two months.

The bill now goes to President Obama, who is expected to sign it into law.

NPR's S.V. Date is reporting on the deal for our Newscast unit. Here's what he says:

"The eventual deal was hammered out by Senate Republican Leader Mitch McConnell and Vice President Joe Biden. It passed the Senate with overwhelming, bipartisan support.

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Health Care
6:50 am
Tue January 1, 2013

Hobby Lobby Plans To Defy Health Care Mandate

Originally published on Tue January 1, 2013 9:44 am

Transcript

STEVE INSKEEP, HOST:

This New Year could mean a new cost for the craft store chain Hobby Lobby. The federal health care law requires employee insurance plans to cover emergency contraceptives. Hobby Lobby's owners did not want to do that. They say drugs commonly known by names like the morning-after pill are tantamount to abortion.

Now, the Supreme Court has turned aside Hobby Lobby's request to block the mandate. So, starting today, the company could be fined as much as $1.3 million per day for defying the law.

(SOUNDBITE OF MUSIC)

Politics
5:12 am
Tue January 1, 2013

Senate Ushers In New Year With 'Fiscal Cliff' Deal

Originally published on Tue January 1, 2013 9:44 am

Transcript

STEVE INSKEEP, HOST:

On the first morning of 2013, it's MORNING EDITION from NPR News. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene.

The party went until the morning hours here in Washington. We're talking about the gathering on Capitol Hill. Senators were voting around 2:00 a.m. Eastern Time.

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Business
5:09 am
Tue January 1, 2013

Can An Algorithm Discover The Key To Laughter?

Originally published on Tue January 1, 2013 9:44 am

Transcript

STEVE INSKEEP, HOST:

Along with decent finances, it takes a lot of talent and practice to play in an orchestra. The same goes for being able to make people laugh. And even some of the most brilliant comedians can have a hard time of it. Let's listen to the usually great Johnny Carson in one of his not-so-great moments on the "Tonight Show."

(SOUNDBITE OF TV SHOW, "THE TONIGHT SHOW")

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Business
5:08 am
Tue January 1, 2013

Tribune Co. Moves Toward Entertainment, Cable TV

Originally published on Tue January 1, 2013 9:44 am

Transcript

DAVID GREENE, HOST:

The Chicago-based Tribune Company, the corporate owner of the L.A. Times, Chicago Tribune, Baltimore Sun and 23 local TV stations, emerged from bankruptcy yesterday after a messy four-year process.

As NPR's David Folkenflik reports, Tribune's future may look very different from its newsy past.

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Business
5:08 am
Tue January 1, 2013

What Does Senate Budget Deal Mean For You?

Originally published on Tue January 1, 2013 9:44 am

Transcript

DAVID GREENE, HOST:

It's MORNING EDITION from NPR News. Good morning, I'm David Greene.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. Happy New Year.

Let's start with the upside. Congress has yet to rattle the financial markets so far in 2013.

GREENE: Of course, the markets are closed on this New Year's Day, as the House considers a deal on taxes and spending. The Senate has already approved that plan by a huge majority.

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Business
5:08 am
Tue January 1, 2013

Business News

Originally published on Tue January 1, 2013 9:44 am

Transcript

DAVID GREENE, HOST:

NPR business news starts with record prices at the pump.

You may already have a sense of this from your bank statement, but now AAA has confirmed that the average price of a gallon of gasoline hit a record in 2012. The group says the national average for the year was $3.60. That is nine cents higher than the average in 2011, which was the previous record. For 2013, AAA thinks increased domestic oil production will help keep prices lower. Transcript provided by NPR, Copyright National Public Radio.

Business
5:08 am
Tue January 1, 2013

The Last Word In Business

Originally published on Tue January 1, 2013 9:44 am

Transcript

STEVE INSKEEP, HOST:

Today's last word in business is old news.

The postal service famously vows that neither snow nor rain, nor heat, nor gloom of night will stop its carriers from their appointed rounds. But the postal creed does not say how long that will take.

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Law
3:00 am
Tue January 1, 2013

Justice Wants Banks To Be Quasi Cops

Assistant U.S. Attorney General Lanny Breuer announces a nearly $2 billion money laundering settlement with British bank HSBC on Dec. 11 in New York City.
Ramin Talaie Getty Images

Originally published on Tue January 1, 2013 9:44 am

Every year, banks handle tens of millions of transactions. Some of them involve drug money, or deals with companies doing secret business with countries like Iran and Syria, in defiance of trade sanctions.

But if the Justice Department has its way, banks will be forced to change — to spot illegal transactions and blow the whistle before any money changes hands.

Federal prosecutors have already collected more than $4.5 billion from some of the world's biggest financial institutions — banks charged with looking the other way when dirty money passed through their accounts.

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