Following up on a plan he unveiled last September to let states apply to be exempt from basic elements of the Bush-era No Child Left Behind education law, President Obama will today announce the first 10 states that have qualified for such exemptions.
The big Swiss bank UBS awarded some of its investment bankers millions of dollars in bonuses for their work last year. Now, according to The Wall Street Journal, it's taking some of that money back.
RENEE MONTAGNE, HOST:
Or clawing it back. That's our last word in business today. Claw back provisions implemented after the financial crisis allow banks to recover bonuses from employees. A trading scandal last year cost UBS more than $2 billion and pushed it into the red.