Economy & Business

Around the Nation
3:37 am
Tue October 8, 2013

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 7:26 am



In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

Read more
4:51 pm
Mon October 7, 2013

In A Debt Crisis, U.S. May Have To Decide Payment Priorities

House Republicans have proposed directing the Treasury Department to pay bondholders first if there is not enough money available to pay all the nation's debts.
Carolyn Kaster AP

Originally published on Wed October 9, 2013 11:02 am

The government is just 10 days away from defaulting on its debt. Treasury Secretary Jack Lew has said that by Oct. 17, the department will likely have less money on hand than it needs to pay all its bills.

"The reality is that if we run out of cash to pay our bills, there is no option that permits us to pay all of our bills on time, which means that a failure of Congress to act would for the first time put us in a place where we're defaulting on our obligations as a government," Lew said on NBC's Meet The Press on Sunday.

Read more
3:20 pm
Mon October 7, 2013

Japanese Airlines Makes Deal To Buy Airbus Planes

Originally published on Tue October 8, 2013 10:18 am



Japan Airlines stunned the aviation world today by announcing that for the first time in the company's history, it will buy new wide-bodied jets from Airbus, the European aircraft manufacturer. The deal is worth billions and it's a big setback for Boeing, which has long dominated the Japanese aviation market. NPR's David Schaper reports.

DAVID SCHAPER, BYLINE: Airbus president and CEO Fabrice Bregier was positively beaming in Tokyo this morning in an interview with financial network CNBC.

Read more
Planet Money
3:10 pm
Mon October 7, 2013

Weirdly, A Default Could Make Investors More Eager To Lend The U.S. Money

J.P. Morgan

With the debt ceiling threshold 10 days away, the big question on everyone's mind is: what will happen if the government defaults? The story usually goes like this:

1. Congress does not raise the debt ceiling in time.

2. The U.S. defaults on its debt.

3. Financial markets immediately freak out because U.S. debt is no longer "risk free."

4. As a result, investors will start demanding higher interest rates to lend money to the U.S. government

Read more
The Two-Way
2:16 pm
Mon October 7, 2013

China Cautions U.S. Over Debt Ceiling Fight

Originally published on Mon October 7, 2013 4:56 pm

China — which holds nearly $1.3 trillion in U.S. securities (pdf) — is asking the U.S. to get its finances in order and not allow a political stalemate to cause the country to default on its obligations for the first time in history.

The United States is expected to run out of money by Oct. 17, so the Treasury needs Congress to extend its credit limit before then. As has happened before, the House and Senate are at odds and the prospects of a compromise look shaky.

Read more