Business and Financial News : NPR

Obama: Deal Reached On Raising Debt Limit

July 31, 2011 • The president said the deal reached with congressional lawmakers would avoid the nation's first default on its debt. He said the agreement will cut about $1 trillion over 10 years. The House and Senate must still approve the agreement.

Whispers Grow Of A Debt Deal

July 31, 2011 • Sunday morning brings fresh rumors of a deal in the works on the debt ceiling. Guest host Linda Wertheimer talks to NPR's Andrea Seabrook about the latest.

China Watches As Washington Debates Debt

July 31, 2011 • The U.S. debt stalemate is of particular concern to China, the largest single holder of U.S. government debt. Guest host Linda Wertheimer talks with Eswar Prasad, former head of the International Monetary Fund's China division.

Markets Teeter As Tuesday's Debt Deadline Nears

July 31, 2011 • The debt ceiling stalemate in Washington has given some investors the jitters. The market saw a 600-point drop last week and many warn that the county's AAA credit rating could suffer if a debt deal isn't reached by Tuesday's deadline. NPR's Chris Arnold reports that most economists are hopeful that lawmakers will find a way to strike a bipartisan deal before Tuesday.

Endgame Begins In Debt Ceiling Talks

July 31, 2011 • The standoff in Washington continues but in the latest loop in the debt-debate roller coaster there was some hope that the White House and Republicans in Congress could find a compromise that could pass in time and could avert default. Guest host Linda Wertheimer gets the latest on the debt-ceiling talks between President Obama and members of Congress from NPR's national political correspondent Mara Liasson.

Debt Battle Leads To Layoffs In Aviation And Beyond

McCarran International Airport in Las Vegas has had to put off a construction project because Congress failed to pass a short-term extension of the Federal Aviation Administration's budget. The hold-up has caused construction layoffs. Ted S. Warren/AP hide caption

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Ted S. Warren/AP

National

Debt Battle Leads To Layoffs In Aviation And Beyond

July 31, 2011 • The controversy in Congress over the debt ceiling has added to a list of factors hindering job creation this summer. When Congress failed to pass a short-term extension of the Federal Aviation Administration's budget in July, the agency had to lay off thousands of workers.

Politics

Debt Crisis Was Long In Coming, Ex-Reagan Aide Says

July 30, 2011 • What impact will the debt ceiling turmoil have on the financial markets? Host Scott Simon talks with former Reagan budget director David Stockman, who predicts some panic ahead.

Politics

High Drama Dominates Debt Ceiling Talks

July 30, 2011 • After several days of arm-twisting, the House on Friday approved a two-stage plan to raise the federal debt ceiling and make sharp cuts in federal spending. But the proposal was almost immediately rejected by the Senate, where Democrats introduced their own debt ceiling plan. NPR's Brian Naylor reports.

Politics

Obama Presses Both Chambers For Debt Compromise

July 30, 2011 • For lawmakers in Washington, D.C., it's another working weekend as they try to come to a deal to raise the debt ceiling and prevent a government default next week. NPR's Scott Horsley brings us up to date on negotiations.

In Tough Times, Philadelphia Bucks The Trend

Mayor Michael Nutter speaks to members of the media during a visit to Powel Elementary School in June. Matt Rourke/AP hide caption

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Matt Rourke/AP

America's Mayors: Governing In Tough Times

In Tough Times, Philadelphia Bucks The Trend

July 30, 2011 • Mayor Michael Nutter and the City Council have avoided service cutbacks and big public employee layoffs by raising sales and property taxes three years in a row.

House Passes, Senate Rejects GOP Debt-Ceiling Plan

House Speaker John Boehner (R-OH) pushed the vote on veto-threatened legislation that was rewritten overnight to win the support of conservative holdouts. Alex Wong/Getty Images hide caption

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Alex Wong/Getty Images

Politics

House Passes, Senate Rejects GOP Debt-Ceiling Plan

July 29, 2011 • The U.S. House voted Friday for a bill pushed by its Republican speaker to raise the debt ceiling and cut spending. But the Democrat-controlled Senate quickly voted to kill the measure, leaving uncertainty as Tuesday's deadline to raise the $14.3 trillion ceiling neared.

System Makes It Hard To Prioritize U.S. Bill Payments

Treasury Secretary Timothy Geithner talks to ABC's This Week host Christiane Amanpour about the debt ceiling on Sunday. Fred Watkins/AP/ABC News hide caption

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Fred Watkins/AP/ABC News

Economy

System Makes It Hard To Prioritize U.S. Bill Payments

July 29, 2011 • How will the government decide who to pay and who to stiff if it runs out of credit? It will be tricky since it has never had to tinker with the system to prioritize payments and has a limited ability to do so, a former Treasury official says.

Pizza Joint Stays Busy As Debt Debate Drags On

As debt talks continue, a Capitol Hill pizza place is inundated with orders. Sean Locke/iStockphoto.com hide caption

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Sean Locke/iStockphoto.com

Economy

Pizza Joint Stays Busy As Debt Debate Drags On

July 29, 2011 • Al's Gourmet Pizza on Capitol Hill has been busy providing Congress with all-day and late-night food during the debt ceiling debate.

In Britain, News Corp. Remains Under Pressure

News International executive James Murdoch testified at a parliamentary hearing that he was unaware of a wider problem of cell phone hacking until a lawsuit in 2010. Warren Allott/AFP/Getty Images hide caption

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Warren Allott/AFP/Getty Images

Media

In Britain, News Corp. Remains Under Pressure

July 29, 2011 • Rupert Murdoch's News Corp. remains under intense pressure in Great Britain over the phone hacking scandal that threatens not only senior company executives, but also political and police leaders. A series of new developments are raising additional questions about how much — and how early — senior executives, including Murdoch's son James, knew about instances of hacking.

Apple Overtakes Nokia As Top Maker Of Smartphones

Apple's iPhone. Richard Drew/AP hide caption

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Richard Drew/AP

The Two-Way

Apple Overtakes Nokia As Top Maker Of Smartphones

July 29, 2011 • Nokia suffered big losses after it announced in February that its smartphones would run a Windows OS. Now Apple holds almost 19 percent of the market.