Originally published on Wed December 18, 2013 6:09 pm
Updated at 10:27 a.m. ET: Moving Ahead:
The Senate voted 67 to 33 on Tuesday to move forward on the two-year, bipartisan budget plan that restores some of the automatic spending cuts of recent years, trims spending in other areas and appears to have put on hold until 2015 the bitter battles that led to this year's partial government shutdown.
The Seahawks 23-to-nothing victory over the New York Giants is great news for Seattle, except for the folks at Jet Chevrolet. The Seattle-area dealership pledged to give 12 people $35,000 apiece if the Seahawks shut out the Giants. The car guys never expected to pay up. What are the odds? But just in case, they insured the bet, so they're only out about seven grand.
It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
NPR's business news starts with new rules for Glaxo.
(SOUNDBITE OF MUSIC)
WERTHEIMER: The head of British - the British drug maker GlaxoSmithKline, told The New York Times yesterday that the company will stop paying doctors to promote its drugs. Pharmaceutical firms commonly pay physicians to speak at medical conferences - a practice criticized as a conflict of interest.
And today's last word in business is a Christmas con.
Just when we want to be thinking about generosity around the holidays, a story of extortion.
LINDA WERTHEIMER, HOST:
Police in Italy have arrested four alleged mafia gangsters for forcing shop owners to buy poinsettias for as much as $140 each. Owners who refused to partake in the Christmas special would have their shops vandalized.
Six states will soon be chosen as commercial drone test sites. So major companies like Amazon say they're hoping to use drones to ship products. But first, the Federal Aviation Administration has to figure out how to fly them safely in civilian airspace. Nevada is one of the states that wants to give commercial drones a try, as Will Stone from member station KUNR reports.
Some Steinway company representatives and employees — like Wally Boot, pictured here — have been working for the company for decades. Boot is the last person to touch every piano that leaves the factory in Queens, N.Y.
For 160 years, the pianos made by Steinway & Sons have been considered the finest in the world. So when hedge fund billionaire John Paulson recently bought the company, it struck fear in the hearts of musicians: Would the famously handcrafted pianos be changed, for the sake of efficiency? Paulson, who owns several Steinways himself, says nothing will change.
Democrats in Congress are promising to try to retroactively extend emergency unemployment benefits after the new year. With the House already in recess, the benefits are expected to expire at the end of the month.
The Senate is still in Washington working on a bipartisan budget agreement passed by the House before it left town last week, but the bill does not include a benefits extension.
Many economists and investors think there's a good chance that at the end of their two-day meeting that begins Tuesday, Federal Reserve policymakers will announce that they'll begin reducing their $85 billion monthly stimulus, their third round of quantitative easing, or QE3.
The analysts think recent economic data, like a drop in the unemployment rate to 7 percent and a budget deal in Washington, have brightened the outlook for the economy enough that the Fed can pull back.