Marketplace Morning Report for Tuesday, December 11, 2012
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The Federal Reserve kicks off a meeting today in Washington, and the expectation is that more monetary stimulus is on the way. Future prices for corn and wheat are at a three week low ahead of today's crop report from the Department of Agriculture. The world of commodities is still reeling from the drought that swept across the country this year. And European Union leaders are returning from a trip to Norway where they officially accepted their Nobel Peace Prize yesterday. The European Union, and the euro -- for all its faults -- have been credited with keeping the continent relatively peaceful of late.
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The "right to work" battle is raging in Michigan; A huge penalty for a money-laundering bank; The IMF delays a big bunch of money that was headed for Egypt. And what's the difference between $10 and $15 an hour? Bigger than you might think.
Posted In: AIG, bailout, government spending
It looks like the U.S. government’s rescue of insurance giant AIG is coming to an end. And, amazingly enough, it’s a happy ending: The government is selling the last of its AIG stock -- for a profit.
Posted In: drought, food prices
The Department of Agriculture's final report for 2012 says farm income increased despite the drought, because of high prices for crops that made it to market. But the drought is continuing into winter and could affect next year's harvests.