National / International News

Tories eye new Royal Mail sell-off

BBC - Mon, 2014-04-14 03:22
Tories believe Royal Mail sale would boost coffers

VIDEO: Cleaning up Cairo's waste system

BBC - Mon, 2014-04-14 03:19
The Egyptian government is turning to its traditional rubbish collectors - the Zabaleen - to revolutionise Cario's waste disposal industry.

Ukraine crisis: What now?

BBC - Mon, 2014-04-14 03:14
Jonathan Marcus on next possible moves by Kiev and Moscow

VIDEO: Watson's five best shots of the Masters

BBC - Mon, 2014-04-14 02:57
BBC Sport looks back at five of Bubba Watson's best shots at the 2014 Masters as he clinched his second Green Jacket in three years.

French Connection sees sales surge

BBC - Mon, 2014-04-14 02:56
Shares in High Street fashion chain French Connection jump almost 12% after it reports a sharp rise in sales.

'This Was A Hate Crime,' Police Say Of Kansas City-Area Killings

NPR News - Mon, 2014-04-14 02:50

Frazier Glenn Cross, also known as Glenn Miller, is accused of killing three people Sunday during attacks on a Jewish community center and a Jewish retirement home.

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Protest fears led to Red Road U-turn

BBC - Mon, 2014-04-14 02:38
Plans to blow up five tower blocks as part of the Commonwealth Games were abandoned over fears protestors would threaten safety and security.

Earnings' fate when Easter's late

Marketplace - American Public Media - Mon, 2014-04-14 02:27

Easter the holiday is sacred, of course. But Easter the shopping season is also sacred:

"Easter is one of the biggest consumer holidays for retailers," says Kathy Grannis with the National Retail Federation. "We're expecting about 16 billion dollars to be spent on everything on candy to decorations and even new apparel."

With one small detail: just a little bit later than usual. Easter is almost a month later than last year. It's one of those movable holidays, lunar calendar and all.

But quarterly earnings do not follow the lunar calendar. Easter was in Quarter 1 last year, and this year it will be in Quarter 2. So Quarter 1 earnings – and March earnings for that matter – were lower this year compared to last. Rite Aid and Walgreens have already reported that the late Easter has reduced their front-of-store sales for March. But Easter wasn't canceled. It was just pushed back – along with those earnings.

"When financial analysts fail to recognize the shift in the holiday on the calendar, they proclaim Q1 as being burdened with poor results, and then of course Q2 everyone looks like a genius," says Mark Cohen, professor of marketing at Columbia Business School.

Do people really make that mistake? "Believe it or not they make that mistake all the time," he says.

Although this year, for many retailers, Q1 looks bad because it legitimately was bad. "The weakness of the retail economy was a direct outgrowth of a very tough holiday season," says Cohen. There was extreme discounting in Q4, and while that did manage to boost business, it did so at a tremendous price. So the late Easter helped make earnings less than stellar, "but it's not the main reason."

On the plus side, the late Easter might actually be quite helpful. Michael Polzin, with Walgreens, explains "there's a better chance of warm weather, so that helps with things like easter egg hunts, decorations; it's easier to get into the spirit of a holiday if your little girl doesn't have to wear a coat over her Easter dress."

Easter often coincides with the start of the sales season for everything from apparel to patio grills, so there may be a small bump just by virtue of people getting out and about and feeling more like spring.

Spring break for Congress: Still work

Marketplace - American Public Media - Mon, 2014-04-14 02:27

Over the weekend, members of Congress fanned out across the country for a two-week Easter recess. You're thinking Mai Tais on the beach?

"Probably not," says Riva Litman, a staffer with the House Republican Conference. "Especially not in Eastern Washington."

Her boss, Congresswoman Cathy McMorris Rodgers, made the long trip back to Spokane to talk to voters about issues like the economy and healthcare reform—and to host a few campaign events.

"It's not much of a recess for the members of Congress. They're just in their own districts as opposed to in the capital." Litman adds.

In an election year, breaks from the Hill are a key time to drum up support - and money - back home.

Royals remember earthquake victims

BBC - Mon, 2014-04-14 02:26
The royals pay their respects to the victims of the 2011 Christchurch earthquakes in New Zealand, and also play cricket against each other.

Nicaragua shaken by third quake

BBC - Mon, 2014-04-14 02:23
A quake hits the Nicaraguan capital, Managua, raising fears that a fault line beneath the capital may have been reactivated.

Parent PLUS loans under scrutiny

Marketplace - American Public Media - Mon, 2014-04-14 02:22

There is $62 billion in outstanding debt belonging to parents who’ve borrowed federal Parent PLUS loans to send their kids to school. The Department of Education is considering tightening the loans’ eligibility criteria, amid concern it’s been too easy for low- and moderate-income parents to get in over their heads.

But the last time it did that, it set off a firestorm.

The thing about Parent PLUS loans is they’re not based on income. Pass a credit check, and you can borrow up to the full cost of attendance. Parents don’t have to prove they can actually repay their loans.

“At the time, I was happy to get it,” says 56 year old Barbara Jones of Boston, who took out more than $100,000 in loans she now says she can’t afford.

“Because then if you didn’t get that, then what would you do?” she asks. “You know, how would you keep your child in school, how would you pay it if you didn’t have any other option than the Parent PLUS loan?”

Jones’s son graduated from Pace University last year. Now mother and son are both in debt for the same degree.

Of course, millions of parents take out PLUS loans; they’re a tool to promote college access. The average outstanding balance is $20,338, according to the Department of Education.

But policy analyst Rachel Fishman with the New America Foundation worries it’s too easy for low and moderate income families to borrow too much, as they try to give their kids a better life.

“That really puts the federal government in a dangerous position of telling them, ‘Sure you can do that,’” she says. “'You can mortgage your future. You’re really close to retirement and we can garnish your Social Security, but fine, we’re gonna to let you take on a loan for $20,000, $30,000 dollars.’”

“We absolutely don’t want parents to get in over their head,” says Cheryl Smith, who works with the United Negro College Fund. That’s why we think there should be a counseling program. At the same time, we don’t think we should be paternalistic.”

UNCF helps minority students get to and through college. It also lobbies for the private historically black colleges and universities. HBCUs have a lot of low and moderate income students, and Smith says thousands were affected when the government toughened the credit check for Parent PLUS loans back in 2011. She says enrollment fell at some private HBCUs , and HBCUs  generally lost millions in revenue, “Directly attributable to fewer students being able to get a Parent PLUS loan.”

Even though parents still don’t have to prove they can repay their PLUS loans, Smith says it’s now too hard to get one.

Still, the larger community is conflicted. Johnny Taylor heads the Thurgood Marshall College Fund, which represents the publicly supported HBCUs. He thinks, at a certain point, Parent PLUS loans should be capped.

“Heretofore we have said to students, ‘Pick the school that you want to attend.’ And frankly the narrative may change to pick the school that you can afford to attend,” he says.

It’s a narrative unfolding within the Department of Education too, which is considering changes to the rules this spring.

Shea Huffman/Marketplace

By Shea Huffman/Marketplace

In pictures: Royals tour New Zealand

BBC - Mon, 2014-04-14 02:20
Duke and Duchess in New Zealand and Australia

Hunger Games leads MTV Movie Awards

BBC - Mon, 2014-04-14 02:08
The Hunger Games: Catching Fire takes the prize for best film at the MTV Movie Awards, as well as female performance and best male for Jennifer Lawrence and Josh Hutcherson.

The way drugs and prostitution boost the economy

BBC - Mon, 2014-04-14 01:57
The UK economy is to get a £10bn boost from the inclusion of illegal drugs and prostitution.

Forsyth explains Strictly decision

BBC - Mon, 2014-04-14 01:47
Sir Bruce Forsyth says criticism over his age was a factor in his decision to step down from Strictly Come Dancing.

Gerrard faces 'biggest month ever'

BBC - Mon, 2014-04-14 01:34
Captain Steven Gerrard says Premier League leaders Liverpool face "four cup finals" as they eye a first English title in 24 years.

DNA tests at French school over rape

BBC - Mon, 2014-04-14 01:34
French police investigating a rape collect DNA from more than 500 male students and staff at a school in La Rochelle, in an unprecedented step.

Graduate starting pay 'falling'

BBC - Mon, 2014-04-14 01:33
Starting salaries for graduate jobs, even in the best-paid fields of medicine and dentistry, have fallen 11% in five years, research suggests

'Record' year for regional airports

BBC - Mon, 2014-04-14 01:31
A burgeoning energy sector helped Scottish regional airports attract record passenger traffic last year, according to operator Hial.
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