National News

Weekly Wrap: Blame geopolitics

Marketplace - American Public Media - Fri, 2014-08-08 04:41

Felix Salmon of Fusion and Jo Ling Kent of Fox Business News talk with about geopolitics, economics and where the two shall meet. 

PODCAST: New credit scores

Marketplace - American Public Media - Fri, 2014-08-08 03:00

FICO -- the nation's leading provider of those all-important credit scores so many of us have tatooed on us -- has announced that it is changing the formula it uses to score our credit in a way that could boost the credit scores for tens of millions of Americans. More on what you need to know about your FICO credit score. Plus, things are getting tougher for military personnel who get help on their college tuition. The current rule is people getting assistance have to just pass the classes, but the government now wants them do better than that. Also, Cleveland is a sports town, be it baseball, basketball or badminton. That game is one of 35 featured in the Gay Games, which start Saturday. The international Gay Games 9 competition is expected to bring 30,000 visitors to the area. More on what some small businesses are doing to get fans into their establishments.

 

Military wages war on bad grades

Marketplace - American Public Media - Fri, 2014-08-08 02:30

As of September, active service members who tap the military's tuition assistance program could be financially on the hook if they get bad grades.

Active members of the military can get up to $4,500 a year in tuition assistance. Under the current rules, they just have to pass classes they take off-duty to get tuition covered up to 100 percent, depending on the branch of the military they’re in.

But starting in early September, troops will have to earn a C or better in undergraduate classes, and a B or better in graduate work. And they can’t settle for grades of “incomplete.” Otherwise, they'll have to pay back the course tuition back.

“Tuition dollars and military student time is both limited and valuable,” says Defense Department spokesman Lt. Cmdr. Nate Christensen. “So, we want to make sure they maintain focus and have an understanding of the expectations that are required of them.”

Christensen says the Pentagon could waive the requirements in certain cases and cut soldiers slack for events like deployments.

Emma Scherer of Student Veterans of America says the threat of paying back tuition for anything less than an average grade could scare people off.

“We don't want to put roadblocks in the way of service members or veterans getting to education, and this clearly does that,” she says.

Student financial aid expert Mark Kantrowitz, publisher of Edvisors.com, says having to back-pay tuition could also disrupt service members’ long-term education plans.

“They’d either owe the military or owe the college, and that could have consequences for their ability to complete college,” he says.

The changes come as the Pentagon faces long-term budget cuts. 

Silicon Tally: #Scrabble

Marketplace - American Public Media - Fri, 2014-08-08 02:00

It's time for Silicon Tally. How well have you kept up with the week in tech news? This week, we're joined by Megan Garber, staff writer at The Atlantic. var _polldaddy = [] || _polldaddy; _polldaddy.push( { type: "iframe", auto: "1", domain: "marketplaceapm.polldaddy.com/s/", id: "silicon-tally-hashtag-scrabble", placeholder: "pd_1407500322" } ); (function(d,c,j){if(!document.getElementById(j)){var pd=d.createElement(c),s;pd.id=j;pd.src=('https:'==document.location.protocol)?'https://polldaddy.com/survey.js':'http://i0.poll.fm/survey.js';s=document.getElementsByTagName(c)[0];s.parentNode.insertBefore(pd,s);}}(document,'script','pd-embed'));

Corporate earnings: up. Hiring: not so much.

Marketplace - American Public Media - Fri, 2014-08-08 02:00

Corporate earnings reports for the spring quarter are mostly in by the first week in August. Overall, they paint a pretty rosy picture for America, Inc., as Bloomberg predicts profits at S&P 500 companies rose nearly 9.5 percent; sales rose more than 4 percent. So far, 75 percent of companies that have reported earned more than equity analysts predicted.

“The results have been really solid,” said chief economic strategist John Canally at LPL Financial in Boston. He said the results bode well for the second half of 2014, especially since GDP growth has picked up since the winter reversal.

Canally said companies are mostly plowing their profits back into the company; not adding to their payrolls, or investing in new plant and equipment.

“It’s mergers and acquisitions, increasing dividends, share buybacks,” Canally said. “Companies are doing what companies normally do: trying to boost share price for their shareholders. They’re just not doing a lot of hiring right now.”

Paul Ashworth, chief U.S. economist at Capital Economics in Toronto, said U.S. companies have increasing worries overseas — where a lot of their profits are earned — due to geopolitical and economic crises in Russia-Ukraine, Iraq-Syria, Israel-Palestine, Argentina, and Europe.

“Some of those geopolitical events have made people rethink how optimistic they are about the world economy over the next 12 months,” said Ashworth — Which, he said, explains some of the stock market's recent slump.

Army Asks Bergdahl About Incident That Led To Taliban Capture

NPR News - Wed, 2014-08-06 21:37

The U.S. Army has begun interviewing Sgt. Bowe Bergdahl about his disappearance in Afghanistan that led to five years in captivity by the Taliban, his attorney and an Army spokeswoman said Wednesday.

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2 Top Khmer Rouge Leaders Sentenced To Life In Prison

NPR News - Wed, 2014-08-06 21:14

A U.N.-backed war crimes tribunal on Thursday sentenced two top leaders of the former regime to life in prison on war crimes charges for their roles during the country's 1970s terror.

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Federal Judges Weigh Gay Marriage Cases From Four States

NPR News - Wed, 2014-08-06 20:46

The outcome of the hearing could put more pressure on the Supreme Court to make a decision on states' same-sex marriage bans.

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