Economy & Business

Economy
3:54 pm
Wed October 16, 2013

Economists Say Fiscal Fits And Starts Hurt U.S. Growth

Traders at the New York Stock Exchange on Wednesday. Stocks surged on Wall Street after Senate leaders reached a deal that would avoid a U.S. default and reopen the government after 16 days of being partially shut down.
Seth Wenig AP

Originally published on Wed October 16, 2013 6:45 pm

On Wednesday, the stock market cheered the debt ceiling deal in Congress. The Dow gained 206 points and all the major indexes closed higher.

Investors of course have been watching the showdown in Washington very closely, since a default could have been a global financial disaster. At the same time, economists are trying to figure out how much the jitters and uncertainty over all this has been hurting the economy.

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The Two-Way
3:49 pm
Wed October 16, 2013

Reporter Glenn Greenwald, eBay Founder Forming New Venture

Reporter Glenn Greenwald, who became famous reporting on NSA contractor Edward Snowden's disclosure of the NSA's government surveillance programs, is leaving the Guardian to form a new media company with eBay founder Pierre Omidyar.
Vincent Yu AP

Glenn Greenwald, the reporter and blogger who broke the story on the National Security Agency's massive surveillance program, is leaving Britain's Guardian newspaper to join a new media venture.

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The Salt
1:34 pm
Wed October 16, 2013

Why U.S. Taxpayers Pay $7 Billion A Year To Help Fast-Food Workers

New York City Council speaker and then-mayoral candidate Christine Quinn speaks at a fast-food workers' protest outside a McDonald's in New York in August. A nationwide movement is calling for raising the minimum hourly wage for fast-food workers to $15.
Richard Drew AP

Originally published on Wed October 16, 2013 3:48 pm

If you hit the drive-through, chances are that the cashier who rings you up or the cook who prepared your food relies on public assistance to make ends meet.

A new analysis finds that 52 percent of fast-food workers are enrolled in, or have their families enrolled in, one or more public assistance programs such as SNAP (food stamps) Medicaid or the Children's Health Insurance Program (CHIP).

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It's All Politics
12:56 pm
Wed October 16, 2013

Good Cop, Bad Cop Routine Gets A Result For Obama And Reid

President Obama and Senate Majority Leader Harry Reid, D-Nev., shared the same goals but had notable stylistic differences in their approaches to the fiscal fight.
Carolyn Kaster AP

Originally published on Wed October 16, 2013 2:40 pm

Since the start of the fiscal standoff that led to a government shutdown and a flirtation with a historic debt default, Democrats have been led by the tag team of President Obama and Senate Majority Leader Harry Reid.

At times, their tactics resembled the good cop, bad cop routine where one officer offers the suspect a cup of coffee and the other smacks it from the suspect's lips. Reid, of course, is the smacker.

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Parallels
11:51 am
Wed October 16, 2013

As Greenland Seeks Economic Development, Is Uranium The Way?

Workers stand inside the gold mine in Greenland's Nulanaq mountain in 2009. The Danish territory's underground wealth was at the forefront of elections in March. Now, Greenland faces another dilemma: whether to end a zero-tolerance policy on uranium extraction.
Adrian Joachim AP

Originally published on Wed October 16, 2013 5:39 pm

Karen Hanghoj, a scientist with Denmark's Geological Survey, points to the southern tip of Greenland on a colorful map hanging in her office.

"What you can see here in the southern region here is you have a big pink region," she says. "And then within the pink region, you see you have all these little purple dots.

"And what the purple dots are is a later period of rifting. These complexes have these weird chemistries and have these very, very strange minerals in them," she adds.

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