This year is the 40th anniversary of the OPEC oil embargo - an event that has shaped our nation's politics and the cars we drive ever since. In 1973, the Arab world decided to cut oil exports to punish nations that supported Israel during its war with Egypt and Syria. While the embargo only lasted several months, it triggered an energy crisis that lasted for years. NPR's Richard Harris reports on the ways we are still feel those effects today.
And our last word in business today is: diamonds on your timepiece.
Police in Great Britain are selling the luxury assets of Vincent Graham. He operated a drug ring in England before police arrested him a couple of years ago. Upon his arrest, police also seized some of Graham's personal belongings: jet skis, motorcycles, a Lamborghini and other luxury cars, items that Graham will no longer needs now that he's in prison.
A handful of German and Polish residents at a nursing home in the Polish mountain town of Szklarska Poreba play a Scrabble-like game using blocks with large letters.
The seniors are tended to by Polish workers who offer a steady supply of smiles, hugs and encouragement.
Leonardo Tegls says such personal attention makes this nursing home, Sun House, special. The 87-year-old Dutch-born immigrant to Germany says he first learned about the Polish nursing home from a TV ad.
And news that Washington has finally reached a deal, averting a potentially catastrophic debt default, is drawing a mixed reaction from the rest of the world.
NPR's Philip Reeves, in London, is watching the markets for us.
PHILIP REEVES, BYLINE: We all know that, at times, the markets can be panicky and irrational. Yet, during this crisis, they held their nerve. Analysts say traders were always pretty confident there would be a last-minute deal. This time, they were right.
NPR's business news starts with a hit to the U.S. economy.
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MONTAGNE: Standard and Poor's estimates that the 16-day-long government shutdown cost the U.S. economy roughly $24 billion. Because of that, the credit rating agency says it is lowering its estimate for U.S. economic growth in the fourth quarter to just over 2 percent. That's down .6 percentage points from its estimate before the shutdown. Transcript provided by NPR, Copyright NPR.
Originally published on Thu October 17, 2013 8:23 am
RENEE MONTAGNE, HOST:
This is MORNING EDITION, from NPR News. I'm Renee Montagne.
Let's go deeper now into one issue Secretary of State John Kerry raised in my interview with him earlier in the program. The secretary, along with his Russian counterpart, got Syria's Bashar al-Assad to agree to hand over his vast store of chemical weapons. Now, Kerry is suggesting those stockpiles be taken out of Syria.
Solomon Northup was born free in early-19th-century upstate New York. He lived the life of a respected and elegant musician until 1841, when he was lured South by the promise of a lucrative stint playing his fiddle in a traveling circus.
In Washington, D.C. — in the shadow of the Capitol — Northup was drugged. When he came to, he was in chains: a slave headed for the hellish world of plantation life. Only the hope of being reunited with his beloved wife and children kept him going.
We have been reporting for several weeks now on small businesses in America. Today, we explore a business system where entrepreneurs and corporations come together: franchising. Franchising is a bit like marriage. It takes a good long-term relationship to succeed.
I have a story on All Things Considered Wednesday (click on the audio link above to hear it) about the campaign to put labels on food containing genetically modified organisms, or GMOs. The idea is gaining ground in the Northeast — Maine and Connecticut passed labeling laws this summer, though they won't take effect unless more states do the same. And GMO labeling is on the ballot this November in Washington state.
Originally published on Wed November 20, 2013 1:36 pm
On Tuesday night, finalists for the National Book Awards read from their nominated works at The New School in New York City. The National Book Foundation will announce the winners Wednesday night.
Get to know the books on the shortlist — for fiction, nonfiction, poetry and young people's literature — using NPR's reviews and author interviews. Click the "Listen" links in the write-ups below to hear the authors read from their works.
Hollywood's been trying to get a handle on the Beat Poets for years. Allen Ginsberg, William Burroughs and Jack Kerouac led wild — and influential — lives. But films about them, like Naked Lunch and On the Road, have never really clicked with audiences. Kill Your Darlings may fare better, partly because it stars Daniel Radcliffe, and partly because the story centers as much on murder as on poetry.
A bad fall in the hospital can turn a short visit into a long stay.
Such falls featured in congressional discussions about patient safety, and in a new study in the Journal of Patient Safety about medical errors. Falls are one part of a multistate clash between nurses and hospitals over how to improve the safety of hospitalized patients.
For many high school students this year, the already stressful process of applying to college has been made far worse by major technical malfunctions with the Common Application, an online application portal used by hundreds of colleges and universities.
"It's been stressful, to be honest," says Freya James, a senior in Atlanta applying to five schools — all early admissions. The Common App has been a nightmare, the 17-year-old says.
Swenson was awarded the medal for the bravery he showed in the 2009 Battle of Ganjgal, one of the costliest battles of the Afghan War. Another soldier involved in the battle received his Medal of Honor two years ago. Swenson's honor was delayed because the Army lost his paperwork.
On Tuesday night, Eleanor Catton became the youngest person to be awarded the Man Booker Prize in its 45-year history. Catton's book The Luminaries and those of her fellow finalists make up what has been hailed as perhaps the best shortlist in a decade, and they have been my companions for the past few weeks. It's a list spanning continents and styles, with a debut novel at one end and, at the other, one by a veteran who speculated that his latest book could well be his last.
In New York there is no shortage of artists. But recently, one artist caused a flurry of excitement around the city. Banksy, elusive, British and best known for his graffiti art, and for the month of October he staged what he calls a residency on the streets of New York. Everyday, he unveils a new work on his website and identifies the neighborhood it's in, but not the exact address.
Stephen Nessen, with member station WNYC, caught up with one of several Banksy fans who are racing to be the first to locate the daily street art.
With hours left before the U.S. Treasury could start defaulting on its obligation, House Speaker John Boehner finally appears to have relented to allow an end to the standoff using a mix of Democratic and Republican votes.
Politicians and pollsters alike are watching to see how all this plays out. The Pew Research Center has just finished a poll to gauge the effect the shutdown and the debt ceiling debate have had on the Tea Party's image.
And joining us is Michael Dimock, director of Pew. Welcome back, Michael.
MICHAEL DIMOCK: Thanks for having me.
CORNISH: So, before we get into the numbers, just give us a snapshot of what you would consider your average Tea Party conservative. Who are they?
Virginia Republican Scott Rigell was elected to the House of Republicans in the Tea Party wave of 2010, but in recent days, he's argued for compromise. When I reached Congressman Rigell earlier today, he was already certain how he'd vote on this Senate deal.
The government shutdown should end tonight and America should be able to pay its bills. Both the House and Senate will vote this evening on legislation to achieve those goals. For months, President Obama has said he would not negotiate with Republicans in Congress about Obamacare or the federal deficit until those goals were met. After weeks of stalemate and more than two weeks into a partial shut down of the federal government, the GOP met his demands.
On Wednesday, the stock market cheered the debt ceiling deal in Congress. The Dow gained 206 points and all the major indexes closed higher.
Investors of course have been watching the showdown in Washington very closely, since a default could have been a global financial disaster. At the same time, economists are trying to figure out how much the jitters and uncertainty over all this has been hurting the economy.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.
Building an IT startup on the Gaza Strip isn't simple: electricity is sporadic, there is no 3G network. You can sell your product outside Gaza's tightly controlled borders, but it can be difficult to move the money back into Gaza. Nonetheless, half a dozen entrepreneurs from Gaza recently pitched their ideas for consideration in a unique program, one that could catapult their businesses into the global marketplace.