Marketplace Morning Report for Friday, September 28, 2012
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British regulators have just proposed a ten point plan to overhaul a key global interest rate. But they say LIBOR shouldn't be scrapped altogether because it's too entrenched in the financial system. LIBOR is used as a benchmark for trillions of dollars worth of transactions around the world. The Barclays Center opens in Brooklyn today with a Jay Z concert. And the big question is whether people take the train to the stadium, because there are only a few hundred parking spots. And what's the Hindi word for Frappuccino? India is set to get its first Starbucks next month in a posh neighborhood in Mumbai.
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PODCAST: Bank of America shells out, Nickelodeon half-shells out and there are no clams for the junk-store Renoir
Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning, but isn't admitting any wrongdoing. It's time for 80's kids to "wax" nostalgic at the revival of Teenage Mutant Ninja Turtles -- and time for Apple Ping-ers to mourn the loss of the fledgling social network. American Airlines is threatening to take its pilots' union to court, accusing the pilots of disrupting flights by calling in sick and calling for unnecessary maintenance. And for the second straight year, fewer students enrolled in U.S. graduate schools.
Posted In: Bank of America, Merrill Lynch, banking, settlement
Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning. It's compensation for maybe not sharing the whole story when B of A bought the failing brokerage Merrill Lynch in 2008.
Posted In: American Airlines, labor, unions
American is trying to impose new pay and work rules on its pilots -- and they’re not happy. Their union hasn’t called for any official action, but American says pilots are filing more maintenance complaints and flying circuitous routes.
Posted In: France, Taxes, budget
The French government has just unveiled a budget for next year that includes major tax hikes for the rich and for businesses. France is the second largest economy in the euro zone and so far it has managed to remain a leader in the debt crisis, rather than a victim -- for the most part anyway.
Posted In: Sports, transporation, parking
The new Barclays Center Arena in Brooklyn can accommodate 18,000 people, but it offers just a few hundred parking spots.
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