National / International News

PODCAST: Breaking the glass ceiling

Marketplace - American Public Media - Thu, 2014-07-24 03:00

The U.S. Securities and Exchange Commission has voted to change the way money market funds work. More on that decision. Plus, more on a new study shows that women and minority leaders tend to be punished for focusing on diversity, while white men are rewarded for the same behavior. Also, with the influx of young migrants detained at the Southwest border this year, we take a look at the countries from which most are fleeing: Honduras, Guatemala, and El Salvador.

Debating corporate tax inversions

Marketplace - American Public Media - Thu, 2014-07-24 03:00

Corporate tax inversions are the latest topic of debate on Capitol Hill. Allan Sloan, senior editor at large for Fortune magazine, appeared before the Senate Finance Committee on Tuesday to talk about  international taxation and ways to reverse American companies reincorporating overseas.

Click the media player above to hear Allan Sloan in conversation with Marketplace Morning Report host David Brancaccio to explain the maneuver, why it’s happening, and what government should do to regulate it. 


Some bond insurers oppose Detroit's bankruptcy plan

Marketplace - American Public Media - Thu, 2014-07-24 03:00

Retirees and employees have voted to accept benefit cuts under Detroit’s bankruptcy blueprint, but not all creditors are on board. Two of the biggest holdouts are bond insurers.

Some are cooperating with Detroit’s plan, but not Syncora Guarantee Inc.

“They’re fighting tooth and nail against the city’s proposed settlement, because it’ll cost them money,” says Alan Schankel, a municipal research analyst at Janney Montgomery Scott.

Syncora and Financial Guaranty Insurance Co. (FGIC) insured almost $1.5 billion of Detroit’s pension debt. The city is offering ten cents on the dollar, or less. That may not be enough.

“Bond insurers got in a lot of trouble in the 2008 crisis. A lot of them were investing in some very exotic derivatives and other things,” says Eric Scorsone, a public finance economist at Michigan State University.

Syncora was insuring mortgage backed securities and other complicated financial products, says analyst Alan Schankel. As the housing crisis hit, Syncora lost capital and its AAA rating.

This all comes at a time when fewer muni bonds are even getting insured. Schankel says before the financial crisis, more than half of new bonds got insurance.

“This year to date that percentage is 4.85 percent,” he says, calling it a precipitous drop.

He believes marketshare will improve over time. The question is whether it will happen in time for Syncora. 

Deadly ambush on Iraq prison convoy

BBC - Thu, 2014-07-24 02:58
Suicide attackers mount a bomb and gun attack on a prison convoy in Iraq, killing 51 prisoners and nine police officers, security sources say.

Privacy regulator to get more money

BBC - Thu, 2014-07-24 02:57
The Information Commissioner's Office is to receive more funding so it can monitor the implications of the controversial new "emergency" data law.

VIDEO: The rehydration unit in an Indian slum

BBC - Thu, 2014-07-24 02:57
An Indian charity has set up a rehydration unit in their health centre to ensure local people get access to oral rehydration therapy

Jobs go at troubled car parts firm

BBC - Thu, 2014-07-24 02:50
A car parts firm goes into administration with the loss of 1,244 jobs, including 78 in Wales.

Air Algerie: Jet Likely Crashed In Mali With 116 Aboard

NPR News - Thu, 2014-07-24 02:34

The MD-83 aircraft was about an hour into its flight from Ouagadougou in Burkina Faso to Algiers. It was carrying 110 passengers and six crew members.

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VIDEO: Witnesses describe two hour execution

BBC - Thu, 2014-07-24 02:32
Victims' family speak out, saying they don't believe inmate Joseph Wood was 'suffering' after a two-hour execution in Arizona.

Farah out of Commonwealth Games

BBC - Thu, 2014-07-24 02:27
Double Olympic gold medallist Mo Farah withdraws from the Commonwealth Games in Glasgow because of illness.

VIDEO: Meet the 'Women Against Feminism'

BBC - Thu, 2014-07-24 02:25
The young women who say they don't need feminism

Drone finds missing 82-year-old man

BBC - Thu, 2014-07-24 02:24
A model drone has helped locate an elderly man in Wisconsin who had been missing for three days.

Big rise in council redundancy costs

BBC - Thu, 2014-07-24 02:21
Cash-strapped Welsh councils have spent nearly twice as much on making staff redundant as they did last year, BBC Wales learns.

Pet Shop Boys premiere Turing tribute

BBC - Thu, 2014-07-24 02:18
Pop duo the Pet Shop Boys unveil their latest work, a tribute to wartime code-breaker Alan Turing, at the first of this year's Late Night BBC Proms.

Banksy 'belongs to the government'

BBC - Thu, 2014-07-24 02:09
A Banksy artwork painted on a Cheltenham house belongs to the Department for Transport, a retired chartered surveyor claims.

VIDEO: UK 'disappointed' no Gaza ceasefire

BBC - Thu, 2014-07-24 02:08
The Foreign Secretary, Phillip Hammond, has said he is "disappointed" that Hamas has rejected a ceasefire proposal aimed at easing the conflict in Gaza.

A Strange Political Dustup Clouds Kansas Governor's Future

NPR News - Thu, 2014-07-24 02:05

An open revolt among moderate Kansas Republicans has clouded Gov. Sam Brownback's re-election hopes and focused national attention on the tax-cutting experiment at the heart of his "red-state model."

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Walking stick gun handed to police

BBC - Thu, 2014-07-24 02:03
An antique shotgun disguised as a walking stick is handed in to police as part of a Greater Manchester gun amnesty.

In Detroit Porch Shooting Trial, It's Murder Vs. Self-Defense

NPR News - Thu, 2014-07-24 02:01

The murder trial is underway for Theodore Wafer, the Detroit homeowner who shot Renisha McBride, an unarmed black teen, on his porch. Wafer claims self-defense; prosecutors say there was no threat.

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Iowa Mayor Calls For 'Caring Cities' To Take In Young Immigrants

NPR News - Thu, 2014-07-24 02:01

The governor of Iowa says he's empathetic but doesn't want to host any of the unaccompanied and undocumented children from Central America. But advocacy groups and other officials in the state are urging Iowans to welcome them.

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