Mississippi Power's Kemper County energy facility near DeKalb, Miss., seen under construction last year. Carbon dioxide will be captured from this plant and used to stimulate production of oil from existing wells.
Credit Rogelio V. Solis / AP
The gasifier facility, still under construction last year at the energy plant. Under the EPA's proposed rules, new plants that run on coal would have to find ways to emit less than half the carbon dioxide current coal plants emit.
The Environmental Protection Agency's second stab at a proposal to set the first-ever limits on greenhouse gas emissions from new power plants would make it impossible for companies to build the kind of coal-fired plants that have been the country's biggest source of electricity for decades.
Under the proposal, released Friday, any new plant that runs on coal would be permitted to emit only about half as much carbon dioxide as an average coal plant puts into the air today.
Potential changes in economic policy from Washington have sent tremors throughout emerging economies. In Turkey, where growth in recent years has put Eurozone economies to shame, the signs are troubling: The Turkish lira has fallen to its lowest value in years and private sector debt is soaring. Economists say continued liquidity and foreign investment remains crucial if Turkey is to avoid a hard landing.
JPMorgan Chase has agreed to pay a $920 million fine. It comes in response to the bank's handling of the so-called London Whale trading debacle. Last year, J.P. Morgan said that rogue traders in its London office had lost $6 billion in a failed hedging strategy, and then concealed it from executives for weeks.
In addition to the fine, regulators forced the bank to take the unusual step of admitting wrongdoing, as NPR's Jim Zarroli reports.
In the quirky little college town of Yellow Springs, Ohio, home to many unconventional ideas over the years, there's now a small insect factory.
It's an unassuming operation, a generic boxy building in a small industrial park. It took me a while even to find a sign with the company's name: EnviroFlight. But its goal is grand: The people at EnviroFlight are hoping that their insects will help our planet grow more food while conserving land and water.
JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.
Originally published on Thu September 19, 2013 7:43 am
The nation's health spending will bump up next year as the Affordable Care Act expands insurance coverage to more Americans, and then will grow by an average of 6.2 percent a year over the next decade, according to projections by government actuaries.
That estimate is lower than the typical annual increases before the recession hit. Still, the actuaries forecast that in a decade the health care segment of the nation's economy will be larger than it is today, amounting to a fifth of the gross domestic product in 2022.
And while markets rallied on news of the Fed's decision, airline employees rally to support a planned merger of American Airlines and U.S. Airways. Here's their message to the Department of Justice.
AMERICAN AIRLINE AND U.S. AIRWAYS EMPLOYEES: (Chanting) DOJ, say OK. DOJ, say OK. DOJ, say OK.
MONTAGNE: The pilots, flight attendants and other employees from the two carriers converged on Capitol Hill. They asked members of Congress to push the Justice Department to drop its anti-trust suit against the merger.
Workers prepare orders to be loaded for shipment at a UPS Healthcare Supply Chain and Distribution Center in Atlanta on March 12. The company recently announced that it would no longer offer coverage for spouses who had their own job-based insurance.
When UPS told workers that it would no longer offer health coverage for spouses who had their own job-based insurance, it caused a big stir. But the shipping giant has plenty of company.
So many employers are trying to cut back on health coverage for spouses that it has become a trend. The practice began well before the Affordable Care Act passed, and the connection to the law, in some cases, isn't that direct.
Federal Reserve Chairman Ben Bernanke arrives to speak at a news conference Wednesday in Washington, D.C. The Fed cut its economic growth forecasts and said it would keep buying bonds in a bid to keep interest rates down.
If you are trying to buy a home, you just got good news: The Federal Reserve said Wednesday it is not going to try to drive up long-term interest rates just yet.
Stock investors are happy for you. They like cheap mortgages too because a robust housing market creates jobs. To celebrate, they bought more shares, sending the Dow Jones industrial average up 147.21 to an all-time high of 15,676.94.
This is ALL THINGS CONSIDERED from NPR News. I'm Robert Siegel.
A giant of the auto business died yesterday, a few days after he turned 100. Eiji Toyoda was president and later chairman of Toyota. The family name is T-O-Y-O-D-A. Toyoda played a key role in the company going worldwide, especially Toyota's move into the U.S. market. Micheline Maynard covers the automotive industry. She's a contributing editor for Forbes these days. Welcome to the program.
The stock market hit new highs today after the Federal Reserve made a surprise announcement. Investors and economists had expected the Fed to start winding down it's $85 billion a month stimulus program at its policymaking meeting today, but it didn't. As NPR's John Ydstie reports, the Fed said it wanted to make sure a recent improvement in the economy and labor market continued before pulling back its stimulus.
Originally published on Wed September 18, 2013 4:28 pm
The Federal Reserve said today that it is not slowing down its monthly purchase of $85 billion in bonds.
The program is intended to stimulate a sluggish economy and the Fed was widely expected to announce that in light of a recovering economy, it was tapering the bond-buying program. Instead, it delivered a surprise that caused the markets to jump, as the Dow and the S&P closed at record highs.
Originally published on Wed September 18, 2013 1:31 pm
The man behind Beanie Babies, the toy animals that saw their heyday in the mid-1990s, has agreed to plead guilty to tax evasion for failing to report income held in Swiss bank accounts.
H. Ty Warner, 69, has been charged in U.S. District Court with felony tax evasion. The indictment alleges that in 1996, Warner traveled to Zurich to open an account with Union Bank of Switzerland with the intent to "evade and defeat" taxes on $3.1 million in foreign income.
This is TELL ME MORE from NPR News. I'm Michel Martin. Later this hour, we will meet the new Miss America, Nina Davuluri, and we'll find out how she's already gotten a lesson in grace under fire after her Indian-American heritage drew a swarm of haters on the web. It's the first of two conversations we'll have this hour about the interesting politics of beauty right now.
A man relaxes at a downtown park in Seoul. The pronounced demographic shift triggered by a plummeting birth rate and soaring life expectancy is seen as one of the greatest challenges facing Asia's fourth-largest economy.
Originally published on Wed October 9, 2013 3:43 pm
A story in the Financial Times caught our eye this week. It was on foreign workers in South Korea.
The story looked at the town of Ansan, where about 7.6 percent of the population is foreign. They come from other Asian countries, as well as from Russia. Here's one of the reasons for the change in South Korea, a highly homogeneous society:
Originally published on Wed September 18, 2013 8:42 am
With the coffee giant caught in the middle of what he says is an "increasingly uncivil and, in some cases, even threatening" debate, Starbucks CEO Howard Schultz has posted a letter to "fellow Americans" asking that they not bring guns into Starbucks' shops.
Originally published on Wed September 18, 2013 4:06 am
Three New York men were so eager to get the game; they hatched a scheme that could be one of its plots. According to the New York Post, the men pulled up to a mall in an unmarked vehicle, walked past hundreds of people in line and purchased the game. Real police pulled them over after they ran multiple stop signs trying to get away.
Law students are looking for some changes to their education. The American Bar Association plans to issue a report in the next few weeks, recommending a major overhaul of how law schools operate. And students are hoping that a recent comment from President Obama, will boost one reform in particular: cutting law schools down to two years, from three.
After 117 years, sports has finally made it to the big time, when, starting next Tuesday, a sports company will be included in the Dow Jones averages.
The Dow Jones, of course, has always preferred very serious corporations –– your banks, your automotives, your insurers. OK, the movies were allowed in 1932 with the inclusion of Loews, and Walt Disney was brought onboard in 1991, but sports was never considered substantial enough for an industrial average until now, when Nike has been ordained.
At a community center named for Florida civil rights pioneer Carrie Meek, a few dozen members of Miami's National Church of God gathered over the weekend for a tea party — and to hear from a special guest, Monica Rodriguez of Enroll America.
The organization is working to spread the word about the Affordable Care Act, the federal law that will let people without health insurance shop for coverage starting Oct. 1.