After a Monday concert at O2 Arena that reportedly started two hours late, the 19-year-old pop star apologized for upsetting disappointed young concertgoers and their angry parents.
Researchers report that the U.S. ranks among the top countries at treating cancers of the brain, colon and breast. But it still lags behind most of Western Europe when it comes to drug abuse, heart disease and kidney problems.
As impacts of the sequester start to take effect around the country, no state is expected to take a bigger economic hit than Virginia. Home of the Pentagon and much of the defense industry, Virginia is bracing for Department of Defense cutbacks that could furlough almost 90,000 employees and reduce work hours by about 20 percent. Those in Virginia's large military population might be physically farther away, many in Iraq or Afghanistan, but they're expected to feel the reverberations of the sequestration as well. Governor of Virginia, Republican Bob McDonnell, spoke with Marketplace Morning Report host Jeremy Hobson about the months ahead and how his state is preparing.
The Dow gained nearly 100 points this morning, topping 14,225 and breaking into record territory. While most economic stories these days lament the sequestration and tepid GDP growth, the markets appear mostly unfazed.
This weekend, New York subway and bus riders were hit with their fourth fare hike in five years. That money is collected with every swipe of a Metrocard -- a piece of technology that was introduced 20-years-ago and becomes more obsolete by the day. Despite the cards slow slide into obsolescence, riders must now pay a dollar surcharge if they lose or discard their card.
The regulator overseeing Fannie Mae and Freddie Mac has announced a new idea to reform the mortgage giants. It involves starting a joint venture to bundle mortgages into securities that people can invest in.
Fannie Mae and Freddie Mac were taken over by the government during the housing crisis. At that time they were bleeding red ink. But last week, Freddie Mac announced it made $11 billion in 2012.
“They’re doing as good a job as anyone could want,” says Guy Cecala, who publishes Inside Mortgage Finance, “and it’s unclear whether we could create a system that would be as efficient and as profitable as what’s currently in place right now.”
That’s exactly what the new plan hopes to do. It would create a new entity that would be responsible for the final steps in turning mortgages into securities for investors.
But not everyone likes that idea. Ken Posner, with Capital Bank Financial, says it would allow more government involvement in the mortgage market.
“When you create a new entity, you haven’t closed the door all the way,” he explains. “You’ve left it open a crack. And that could come back to haunt you.”
Congress and President Obama have the final say on government housing policy -- and whether Fannie and Freddie stay or go.
Nachman and Raizy Glauber, both 21, died soon after the crash. Raizy Glauber had been about seven months pregnant. Their premature son died Monday. Now, police are looking for 44-year-old Julio Acevedo. He spent time in prison after a manslaughter conviction.
The Venezuelan president is having difficulty breathing and has a new "severe" infection, as his vice president has taken over the day-to-day running of government.