We begin NPR's business news with possible bank settlements.
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GREENE: One of Britain's largest banks, Standard Chartered, says it expects to pay around $330 million to the United States. This would settle a case with regulators here who accused the bank of failing to comply with sanctions against Iran. Standard Chartered has already paid out $340 million to the state of New York on the same claims.
Germany's Cabinet on Thursday approved sending German Patriot air defense missiles to Turkey to protect the NATO member against possible attacks from Syria, in a major step toward possible Western military role in the Syrian conflict.
Defense Minister Thomas de Maiziere told reporters that two batteries with a total of 400 soldiers would be sent to the border area under NATO command for one year, although the deployment could be shortened.
The decision must be endorsed by the German Parliament, but approval is all but assured.
It's early afternoon when the sun is bright, and it's finally warm enough to come outside. This tent camp on a hill overlooking the Turkish border, near the Syrian town of Atma, houses more than 14,000 displaced Syrians.
The water here is trucked in, and it's the only source. Women line up with plastic jugs to haul the daily delivery back to the tents. What is striking are the children — in dirty clothes and summer shoes, faces red and raw from the cold.
As President Obama and Capitol Hill lawmakers assess the need for spending cuts and tax increases against the risk of triggering a new recession, they might look across the Atlantic for insights from those who have already grappled with those budgetary questions.
The problem of excessive government debt has swamped economies across Europe and forced countries to take severe measures to cut their deficits. The first lesson from their "fiscal consolidation" experiences: It will hurt.