Economy & Business

Shots - Health News
3:49 pm
Tue December 10, 2013

To Fight Meningitis Outbreak, Princeton Tries European Vaccine

The Ivy League school has begun vaccinating nearly 6,000 students to try to stop an outbreak of type B meningitis in an unusual federal government-endorsed administration of a drug not generally approved for use in the U.S.
Mel Evans AP

Princeton University has started vaccinating students against type B meningitis in an effort to stop an outbreak that's infected at least eight people.

The vaccine isn't approved for general use in the United States, though it is available in Europe, Australia and Canada. But the meningitis strain that hit the New Jersey campus isn't fazed by the vaccines typically used in the U.S. The Food and Drug Administration is allowing a Novartis vaccine that's usually sold in other countries to be administered on the Princeton campus.

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Business
3:29 pm
Tue December 10, 2013

Volcker Rule Sets Tough Standards, High Regulatory Expectations

Originally published on Wed December 11, 2013 11:30 am

Transcript

AUDIE CORNISH, HOST:

For more on just how the Volcker rule will work and how it will be enforced, we're joined by Simon Johnson. He's professor at the MIT Sloan School of Management, and he's a member of the FDIC's systemic resolution advisory committee. Welcome to the program.

SIMON JOHNSON: Thanks for having me.

CORNISH: So let's talk more about proprietary trading. Give us some specific examples of this.

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Business
3:29 pm
Tue December 10, 2013

Regulators Tighten Bank Rules To Curb Risky Wall Street Trades

Originally published on Wed December 11, 2013 11:30 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

Federal regulators today approved a tough new set of restrictions on the kinds of trading that banks can do. The so-called Volcker rule largely prohibits FDIC-protected banks from trading securities for their own financial gain. It's part of the Dodd-Frank overhaul passed three years ago.

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Business
3:29 pm
Tue December 10, 2013

GM's New CEO Will Be First Woman To Drive A Major Car Company

Originally published on Wed December 11, 2013 11:30 am

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

It's been a big week for General Motors and it's only Tuesday. Yesterday, the Treasury Department sold off its remaining shares in the auto giant. That ends one of the most tumultuous periods in company history. Now, GM turns a page with a new CEO, Mary Barra.

As NPR's Sonari Glinton reports, she will become the first woman CEO of a major automaker.

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The Two-Way
2:55 pm
Tue December 10, 2013

Regulators Approve Rule To Rein In Banks' Risky Trades

President Obama with Paul Volcker at the White House in 2009. Volcker, who headed the President's Economic Recovery Advisory Board, lent his name to a new rule aimed at curbing risk-taking on Wall Street.
Brendan Smialowski Getty Images

Originally published on Tue December 10, 2013 7:33 pm

The Volcker rule, a centerpiece of the 2010 Dodd-Frank financial law aimed at stopping some of the risky banking practices that contributed to the economic meltdown, was approved by five key regulators on Tuesday, clearing the way for its implementation.

The U.S. Commodity Futures Trading Commission became the fifth and final body to approve the rule. The Federal Reserve and the Federal Deposit Insurance Corp. were also among the agencies that gave the green light.

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