Some towns in New York are rushing to ban horizontal hydrofracking, a controversial technique for capturing natural gas trapped deep under ground. The state itself has yet to approve fracking, but Dryden, N.Y., isn't taking any chances. Town supervisors approved a ban based on local zoning. David Chanatry of the New York Reporting Project at Utica College reports, the Dryden's ban is the issue in next week's town board elections.
NPR's business news begins with a bleaker forecast from the Fed. Just when we were beginning to hear some more positive economic news, the Federal Reserve reminds us not to get too excited. It's predicting slower growth and less improvement in the unemployment rate through 2013 than previously expected. This news comes after a two-day meeting of the Fed's policy-making committee, in which it decided against taking new measures to stimulate the economy for now.
First Solar, viewed as the golden child of the solar industry, hold its quarterly call today with nervous investors. They're on edge because the Arizona-based company announced a CEO shake-up late last month and have said almost nothing publically since then. From member station KJZZ in Phoenix, Peter O'Dowd reports.
America's original discount store has filed for federal bankruptcy protection and plans to close its 46 stores. This isn't the first time the company has filed for bankruptcy, but it appears to be its last. The company cited increased competition from department stores, private-label discounters and the economic downturn.
It's MORNING EDITION from NPR News. I'm Steve Inskeep.
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And I'm Renee Montagne. To understand the European debt crisis, it helps to keep track of both the short-term and the long-term. In the short-term, Europeans have agreed on a bailout deal that among other things would cut the debts of Greece. It's being held up by the Greek prime minister's plan to hold a referendum on austerity measures. Europeans have told Greece it's got to decide soon if it wants to be part of the eurozone or not.