Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline, the Bureau of Labor Statistics reports. The overall decrease is the largest in one month since July 2009.
Excluding the energy and sectors, prices at the wholesale level ticked up 0.2 percent.
There's grim news from Iraq this morning, where scores of people have been killed in coordinated attacks on Shiite Muslim pilgrims. As often happens when stories such as these are developing, different news outlets are reporting different death tolls. No matter which report you read, however, the news is disturbing:
Voters in Southern Arizona decided Tuesday who will replace former U.S. Rep. Gabrielle Giffords for the remainder of her term: her former district director, Ron Barber. Giffords resigned from Congress in January to focus on recovery from injuries she suffered in a shooting in early 2011. Barber was also injured. His Republican opponent, Tucson businessman Jesse Kelly, narrowly lost to Giffords two years ago.
When they travel to London to compete in this summer's Olympics, many elite athletes will be joined by family members. But for Alexander Massialas and his father, Greg, it's different. Both of them will represent the United States â€” one as a coach, and the other as an athlete.
Morning Edition host Steve Inskeep is taking a Revolutionary Road Trip across North Africa to see how the countries that staged revolutions last year are remaking themselves. Steve and his team are traveling some 2,000 miles from Tunisia's ancient city of Carthage, across the deserts of Libya and on to Egypt's megacity of Cairo. In the Libyan towns of Benghazi and Derna, he talks to Islamists about their desire to see a new Libya ruled by Shariah law.
The other day in Benghazi, Libya, we found our vehicle surrounded by truckloads of men with machine guns.
Originally published on Wed June 13, 2012 12:49 pm
If you think only farmers care about the farm bill currently being considered by Congress, you're very, very mistaken.
The measure will not only set policy and spending for the nation's farms for years to come, but it will also affect dozens of other seemingly unrelated programs â€” all at a cost of nearly $1 trillion over the next decade. Following are a few questions and answers about the massive legislation:
Why is it called the farm bill, and where did it come from?
The latest proposal for the farm bill â€” the law governing everything from food stamps to rural development grants â€” is being considered by the U.S. Senate this week. It's designed to save more than $23 billion over the next 10 years, in part by getting rid of direct payments to farmers. The direct payment program alone costs taxpayers $5 billion per year.
Baseball historians continue to poke around in the 19th century to better explain how the game was originated and developed, but I've always wondered if one of the prime movers wasn't a student of Shakespeare.
While I certainly don't know the terminology of all ball games, the popular ones I'm aware of â€” everything from basketball and football to golf and tennis â€” all use some variations of the words in and out when determining whether the ball is playable.
Only baseball is different.
"Fair is foul and foul is fair; Hover through the fog and filthy air."
The big story of this year's election campaign is big money. Since the Supreme Court, through its Citizens United ruling, has made it easier for corporations, unions and rich individuals to raise and spend unlimited amounts of money, Republicans have seized the advantage.
Right now, an analysis by NPR finds that Republican allied groups are outspending their Democratic counterparts by 8 to 1.
Originally published on Wed June 13, 2012 10:00 am
"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."
That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.