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Business

Debate Begins: New OT Rules Will Raise Wages — Or Kill Jobs

President Obama has proposed a rule requiring requiring overtime pay for more workers. The plan has drawn fire from many employers. Pablo Martinez Monsivais/AP hide caption

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Pablo Martinez Monsivais/AP

The Two-Way

Debate Begins: New OT Rules Will Raise Wages — Or Kill Jobs

The Labor Department plans to change a rule so that 5 million more Americans will be able to collect overtime pay. Business groups say the change will hurt hiring, but labor groups are applauding.

Economy

Export-Import Bank Set To Expire At Midnight After Congress Fails To Act

The bank, which helps finance trade deals for U.S. companies, needed reapproval by June 30. Now it is living on borrowed time, after an anti-crony capitalism campaign driven by conservative groups.

Export-Import Bank Set To Expire At Midnight After Congress Fails To Act

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How Default Could Push Greece Out Of The Eurozone

People wait in line to withdraw euros from an ATM after Greece closed its banks Monday in Athens. Milos Bicanski/Getty Images hide caption

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Milos Bicanski/Getty Images

Europe

How Default Could Push Greece Out Of The Eurozone

After missing a loan payment, Greece is one step closer to the possibility of quitting the euro, analysts say. And, they say, the crisis poses a danger to the eurozone itself.

How Default Could Push Greece Out Of The Eurozone

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Obama Proposes Expanding Overtime Pay To Nearly 5 Million Workers

The White House is proposing new rules that will boost the number of people eligible to receive overtime pay. The rules are facing opposition from the retail and restaurant industries.

Obama Proposes Expanding Overtime Pay To Nearly 5 Million Workers

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Greece Seeks New Bailout From Eurozone, Misses Loan Payment

Greece's Prime Minister Alexis Tsipras prepares for a TV interview at the State Television in Athens on Monday. He urged Greeks to vote "no" in Sunday's referendum on the terms of a bailout. Thanassis Stavrakis/AP hide caption

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Thanassis Stavrakis/AP

The Two-Way

Greece Seeks New Bailout From Eurozone, Misses Loan Payment

The Greek government, as expected, didn't make the payment that was due Tuesday. It's asking its international creditors to provide more cash, while easing up on austerity demands.

Congress Leaves For Recess Without Reauthorizing Export-Import Bank

Treasury Secretary Jacob Lew (center) speaks with (from left) Sen. Ben Cardin, D-Md., Ellicott Dredges GM Craig Murdock and CFO Joseph Wendel during a tour of the company's manufacturing facility in March. Lew was on hand to promote investment in American infrastructure. The company has utilized the Export-Import Bank's services. Patrick Semansky/AP hide caption

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Patrick Semansky/AP

It's All Politics

Congress Leaves For Recess Without Reauthorizing Export-Import Bank

A government agency is about to close. The Export-Import Bank has helped U.S. companies sell goods abroad for decades, but it will likely wind down operations after July 1 if Congress doesn't act.

Congress Leaves For Recess Without Reauthorizing Export-Import Bank

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Politics

Obama Expected To Release Rule Governing Overtime

The plan raises the cap under which most workers must get overtime for working more than 40 hours a week. It doesn't require congressional approval, but is expected to be criticized by businesses.

Obama Expected To Release Rule Governing Overtime

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Economy

Facing Massive Debt, Puerto Ricans Warned Belt Tightening Will Be Needed

Puerto Rico's governor says the U.S. territory will be unable to pay off some of its more than $72 billion debt, and that terms will have to be renegotiated. He's also calling for big budget cuts.

Facing Massive Debt, Puerto Ricans Warned Belt Tightening Will Be Needed

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National

As Budget Deadline Approaches, Illinois Faces A Government Shutdown

NPR Illinois | 91.9 UIS

The budget expires on Tuesday and there's no sign of agreement on a new one. It's the first time in a dozen years that the solidly Democratic legislature has had to deal with a Republican governor.

As Budget Deadline Approaches, Illinois Faces A Government Shutdown

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Europe

A Financial Tragedy Plays Out In Greece: No Money And Debt Is Due

Greece's bailout money is gone, and it will miss a payment due to the IMF. Linda Wertheimer talks to Joanna Kakissis and Peter Spiegel of The Financial Times about Greece's tenuous hold on the Euro.

A Financial Tragedy Plays Out In Greece: No Money And Debt Is Due

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President Pitches Overtime Rule That Could Raise Wages For 5 Million

President Obama signs a presidential memorandum in March of 2014 that directed the Department of Labor construct a new set of overtime rules, with the goal of making more employees eligible for overtime pay. Mark Wilson/Getty Images hide caption

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Mark Wilson/Getty Images

It's All Politics

President Pitches Overtime Rule That Could Raise Wages For 5 Million

The regulation, which retailers and restaurants likely will fight, would mean that all employees earning up to $50,440 a year would be guaranteed overtime pay, up from the current cap of $23,660.