Swiss banking giant UBS AG has agreed to pay $1.5 billion in fines to regulators in the U.S., Britain and Switzerland for its part in a scheme to manipulate the London interbank offered rate (LIBOR), which is used to set rates on contracts around the world.
Companies that make firearms are facing some tough choices, in the aftermath of the Sandy Hook tragedy. Yesterday, the private equity group Cerberus Capital Management said it's getting out of the gun business. And one of the largest outlets for firearms, Dick's Sporting Goods, said it is suspending sales of certain kinds of rifles. Wal-Mart has removed a website listing for a rifle similar to the one used by the gunman in Connecticut.
NPR's Sonari Glinton looks at what the gun debate could mean for big business and big retail.
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In Newtown, Connecticut, Sandy Hook Elementary remains closed. But other schools are open. Today is actually the second day back for students in the wake of last week's shootings that killed 20 children and six adults. This is a community that is taking its first steps towards normalcy, as NPR's Zoe Chace reports.
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Even before the events of the last few days, Congress had a busy agenda. Lawmakers are negotiating over taxes and spending that could affect the economy in the year ahead, not to mention almost every part of the federal government and the take-home pay for millions of Americans.
One person who did have a lot to say about gun control is Connecticut Senator Richard Blumenthal. He spent several days with grieving residents in Newtown. The Democrat then returned to Washington, and on the Senate floor yesterday, made an emotional plea for stricter gun control. We spoke to him just afterwards.
Senator, this has been a horrible time for the people of your state. We really appreciate you taking the time to talk to us.
Now, the administration is also facing pressure to weigh in on the debate over gun control in the aftermath of the shootings in Connecticut last Friday. Yesterday, White House Press Secretary Jay Carney said the president would like to reinstate a ban on assault weapons that expired in 2004.
NPR's business news begins with a global bank settlement.
It's the big Swiss bank, UBS. It announced this morning that it will pay a total of $1.5 billion in fines for its role in rigging the interbank lending rate known as LIBOR. The settlement will be paid to Swiss, British and American regulators.
Greece got a rare bit of good news late yesterday. Standard and Poor's upgraded the country's credit rating six notches to a B minus. I mean, not the worst grade on your report card, but in the financial world this is junk bond status.
Still, Joanna Kakissis reports from Athens that there is a more stable outlook.
Pakistani gunmen staged new attacks Wednesday on health workers carrying out a nationwide polio vaccination program. Six workers were killed Tuesday as they went house to house to administer the immunizations to area children in Karachi and the northwest city of Peshawar.
Although there were additional attacks, the Pakistani government vowed to continue the vaccination campaign — and eradicate the disease — even if there is bloodshed.
If the sheer variety of holiday music that pops up each winter is any indication, there's no genre that can't handle a little Christmas spirit. This year, Louisiana country singer Sammy Kershaw decided to test that theory with the sounds of the bayou. His new album of Cajun-infused holiday songs is called A Sammy Klaus Christmas.