Originally published on Thu November 15, 2012 6:01 am
President Obama travels to New York Thursday to get a first hand look at the continuing recovery efforts and lingering damage from Hurricane Sandy. Damage and lost economic activity from the storm have been estimated as high as $50 billion. State officials and lawmakers from the affected region say they intend to tap the federal government for as much assistance as possible.
House Republicans have released portions of a report on the collapse of MF Global, the commodities firm run by former New Jersey Governor Jon Corzine. The report chastises Corzine for taking excessive risk.
Originally published on Thu November 15, 2012 6:07 am
Republicans claim President Obama's plan to raise taxes on the wealthy will cost the economy 700,000 jobs. Another study from the Congressional Budget Office puts the number of lost jobs as 200,000. But both studies also assume millions of new jobs will be created.
Hostess Brands, famous for processed treats like Twinkies and Ding Dongs, says it will go into liquidation if striking bakers do not return to work this afternoon. This could see the layoffs of nearly 18,000 workers. The bakers walked out over wage and benefit cuts. Analysts say the company's most iconic brands would likely be bought by other companies if Hostess goes out of business. Transcript provided by NPR, Copyright NPR.
Ryan Crocker was formerly a U.S. ambassador to Lebanon, Kuwait, Syria, as well as Iraq, Pakistan, and Afghanistan. He worries diplomats will be pressured to avoid risks, and retreat from doing their jobs. He spoke with Steve Inskeep before a large audience of diplomats and others at the Middle East Institute in Washington, D.C.
When President Obama sets off to Asia this weekend to highlight his so-called pivot to the region, he will make a bit of history: Obama will become the first sitting U.S. president to visit Myanmar.
The country, also known as Burma, was a pariah state for decades, ruled by a ruthless military dictatorship. That is changing, and the Obama administration has encouraged a dramatic reform process in the country. But it may be too early for a victory lap.
Though new Chinese leader Xi Jinping "didn't once mention Marxism or Mao Zedong" today as he stepped into his new role, the make-up of the "gang of seven" that he now heads "will disappoint those hoping for sweeping reform," NPR's Louisa Lim reports from Beijing.