National / International News

VIDEO: 'Boris Island' airport plan rejected

BBC - Tue, 2014-09-02 11:13
A plan for an island airport in the Thames Estuary, dubbed "Boris Island" after London's mayor Boris Johnson, is rejected by the commission looking into the UK's airport needs.

Commerce Sec. Penny Pritzker on our export economy

Marketplace - American Public Media - Tue, 2014-09-02 11:07

American cities exported $1.4 trillion in goods and services in 2013, the Commerce Department reported Tuesday. That includes everything from manufacturing to secondhand goods, scrap, mining and agriculture.

Two states benefit most in dollars and in number of jobs from the export economy: Texas and California. That may not be a surprise, given the vast area and population in both places, but some of the cities showing growth from exports may be: Kansas City, Missouri; Youngstown, Ohio; Detroit. 

Commerce Secretary Penny Pritzker joined Marketplace's Kai Ryssdal to dig into the findings. 

What kinds of jobs are being created by exports?
Of the goods jobs, 88 percent of them are manufacturing jobs that are created. Those are good jobs. But in general, the exporting jobs that are being created pay 13 to 18 percent more than the average job. We're very excited about that, and 1.6 million Americans have new jobs since 2009 because of exports. 

I ask this question against the backdrop of an economy growing at 4.2 percent on an annualized rate, we learned last week...
Isn't that exciting?

It's great news, but here's the thing, to your report: You can't export your way to growth, right? Because everything we export, somebody else has to buy. With the dollar at highs and with slowdowns in Europe and Asia, how confident are you that this export-led growth can continue?
I am confident. We have doubled exports to over 30 countries around the world. There are a lot of countries that want our goods and services, and one of the things we want to do is help our companies export, because that'll continue to support the kind of GDP growth we've been seeing. 

One of the things that happens when exports are a topic of conversation is that the Export-Import Bank comes up, that government agency that helps finance exports for a lot of American companies. There's a great political brouhaha right now in Washington over whether to renew the charter when it comes due. Why do we need the government to be helping in this way?
It's absolutely imperative that we reauthorize the Export-Import Bank, and I'll tell you why. Sixty other countries have export-import banks. The Export-Import Bank over the last five years has supported the creation of 1.2 million jobs in the United States. We can't afford not to have this tool in our tool chest. 

Speaking of who is doing these jobs, last time we spoke [January 2014], I asked you about the prospects for immigration reform. You said you were confident it would be done in the first half of this year. I'm going to give you the opportunity for a Mulligan here, Madam Secretary. 
Well, the reason for supporting immigration reform has not gone away. First of all, we have a moral responsibility to deal with the 11 million undocumented individuals living in our country. But we also have an economic opportunity that comes with immigration reform.

If you look from a more technology and STEM standpoint, we know that over 50 percent of students in most STEM fields that are getting a master's or Ph.D. are immigrants. So this is crazy. We're educating all these terrific young people, they're here in the country. If they want to stay, why shouldn't we encourage them to stay? It would be good for our businesses, too. They need this kind of talent. I know where we're at, but I believe that pragmatism and the reality will win out [...] and that we will get some kind of action on immigration reform. 

I won't ask you to speak for your boss, but do you anticipate that action to be executive action from the White House, most likely after the election?
Well you know what, since you hang out with my boss, I'll let you ask him that question. 

Narendra Modi's 100th day as prime minister

Marketplace - American Public Media - Tue, 2014-09-02 10:56

Indian Prime Minister Narendra Modi marks his first 100 days in office today, a period that offered high hopes for a pro-business administration.

"His election was indeed a time of great optimism, and I would say that not much has changed. A lot of that optimism continues to be," says Sruthijith KK, editor of Quartz India. "There is some concern that he hasn’t done enough, but there are enough indications that he is laying the groundworks slowly and steadily to be able to then leapfrog and do much bigger things."

KK says Modi plans to put a think tank in place to help figure out how the economy needs to be structured, and the different ways the states and central government can share revenues. However, that plan has not been established yet.

Listen to the full interview in the audio player above.

Nicaragua suspends search for miners

BBC - Tue, 2014-09-02 10:46
Rescue teams in Nicaragua suspend efforts to locate seven men trapped by a cave-in at a gold mine in a remote region in the north of the country.

Laptop sales soar before university

BBC - Tue, 2014-09-02 10:38
The surge in sales of laptops for students getting ready to start university has become like a "mini-Christmas", say leading retailers.

Mass escape from juvenile US prison

BBC - Tue, 2014-09-02 10:35
More than 30 teenagers held at a juvenile detention centre in Tennessee escape by crawling through a fence and nine are still being sought.

AUDIO: 'This should never have happened'

BBC - Tue, 2014-09-02 10:28
A friend of journalist Steven Sotloff, who has apparently been killed by Islamic State militants, says the UK and US need to start negotiating for hostages.

Monkey leaders have different brains

BBC - Tue, 2014-09-02 10:16
Neuroscientists discover that primate brains show consistent differences according social status

EU's Mogherini calls for Nato muscle

BBC - Tue, 2014-09-02 09:48
Nato must back words with actions to reassure countries bordering on Russia, the EU's new foreign affairs chief says.

Police 'incompetence' over Sir Cliff

BBC - Tue, 2014-09-02 09:42
South Yorkshire Police are accused of "sheer incompetence" by MPs in the way they dealt with the BBC over a search of Sir Cliff Richard's home.

Gamers take a stand against misogyny

BBC - Tue, 2014-09-02 09:35
Thousands have signed an open letter demanding change after a female video blogger received death threats.

Cook will not quit as ODI skipper

BBC - Tue, 2014-09-02 09:28
Alastair Cook says he will not stand down as England one-day captain despite the series defeat by India.

VIDEO: Salmond on 'democratic sensation'

BBC - Tue, 2014-09-02 08:51
First Minister Alex Salmond says the Scottish independence referendum is a "democratic sensation".

Missing boy's mother thanks crews

BBC - Tue, 2014-09-02 07:51
The mother of a 12-year-old boy swept out to sea while playing on Anglesey sends an emotional thank you to crews who are searching for her son.

'Cartel links' mayors to be charged

BBC - Tue, 2014-09-02 07:33
Police in Mexico are holding two serving mayors and one ex-mayor over allegations they have links to the Knights Templar drug cartel.

Officials begin arriving for Nato

BBC - Tue, 2014-09-02 07:28
Officials from around the world start arriving in Wales later for the Nato summit which starts in Newport on Thursday.

Eric Cantor gets a new job...on Wall Street

Marketplace - American Public Media - Tue, 2014-09-02 07:00

Former House Majority leader, Republican Eric Cantor, lost a June primary to a Tea Party conservative in a surprise upset. 

According to the Center for Responsive Politics, two thirds of former members of Congress end up in the lobbying business. Cantor, however, is doing something slightly different.

He will be vice chairman at boutique investment bank Moelis and Co. He will also be a managing director, and a member of its board. 

What, though, will he be doing?

“Strategic counsel,” according to the firm’s announcement. Cantor comes from a real estate law background, so he won’t be bringing a deep expertise in mergers and acquisitions, for example. But politicians do, it turns out, have skills.

“A politician is a very smart hire,” says Jeanne Branthover, managing partner with Boyden Global Executive Search. “Politicians are very strategic, they’re always looking into the future and looking at what should we do, what shouldn’t we do, what should our image be, our message, our brand."

A politician like Cantor also brings a Rolodex.

“When you think about an investment bank, so much of what they do is wealth and connections, and politicians are connected at very high levels and very important circles,” says Branthover.

“Money is a commodity, access and influence are not,” says Josh Crist, managing director at Crist Kolder Associates, an executive search firm. “Guys who have grown up on the investment side can access money, but may not be able to open the doors that a guy like Cantor can.”

So, for example, if Company A wants to expand by taking over Companies B and C, they might lean on Cantor to work any connections there.

“He’s seen C level, board level access for years given his fundraising responsibilities,” says Crist.

Cantor raised $1.4 million over the past two years, including $5,200 for his own campaign from his new boss, the founder of Moelis and Co, since April 2013.

Terror suspects held in Saudi Arabia

BBC - Tue, 2014-09-02 06:38
Saudi Arabia's interior ministry says it has arrested 88 people suspected of plotting attacks inside and outside the country.

VIDEO: Met Police sells London HQ for £250m

BBC - Tue, 2014-09-02 05:45
The Metropolitan Police has put a £250m price tag on its famous London headquarters, New Scotland Yard.

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