Wall Street didn't get much of a gift at the end of last week. The Dow lost 120 points, or nine-tenths of a percent, on Friday. The slump is partly tied to events in Washington last week — a Republican plan to avoid the "fiscal cliff" came undone.
Now, while our politicians are consumed with the deficit deadline, many leaders around the world are taking a step back, putting quill to paper and carefully composing their Christmas messages. In Britain, particular attention will be paid to Queen Elizabeth's message, because this year she's celebrating 60 years on the throne.
NPR's Philip Reeves sent this letter, musing about what it meant to be British as 2012 comes to a close.
Originally published on Mon December 24, 2012 5:37 am
In Spain, entrepreneurship is largely a high-class hobby. Family money and connections have long been the best indicators of small business' success. A recent World Bank report ranked Spain lower than Bangladesh and Afghanistan on the ease of starting a business. Now Spain's ruling conservatives want to change that.
Morning Edition's series, the Twelve Days of Tax Deductions, zeroes in on some of the tax breaks lawmakers are grappling with as they hammer out a budget deal, to raise revenue, cut spending and avoid the end-of-year "fiscal cliff." On Day 11, we look at the deduction for employer sponsored health insurance.
Nariman Behravesh, chief economist of IHS Global Insight, talks to Steve Inskeep about his economic forecasts for 2013. Among his predictions: the U.S. recovery will gradually pick up steam. Unless it falls off a cliff — then a recession will probably be unavoidable.