03/19/13
Marketplace Morning Report for Tuesday, March 19, 2013
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The government in Cyprus is scheduled to vote on a controversial tax on bank deposits later today. Could the measure lead to a run on Cypriot banks? The travel industry is up and so are luggage sellers. And shares of yoga apparel maker Lululemon are down after the company announced some of its pants are see-through.
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PODCAST: Sheila Bair on Cyprus, Bloomberg's new ban
Former FDIC Sheila Bair weighs in on Cyprus' proposed bailout tax on bank depositors. Should generic drugs be liable for drug side effects? And New York City Mayor Bloomberg seeks to ban cigarette displays in stores.
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Headline writers turn Lululemon's yoga pants into lemonade
Lululemon shares were down this morning after the yoga-apparel maker announced yesterday that some of its pants are see-through due to a supplier mistake.
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Cypriots protest bank deposit tax
Later today, the government of Cyprus will vote on a controversial bailout plan which would tax bank deposits up to 10 percent. The BBC's Nigel Cassidy in Cyprus discusses public reaction to the plan and whether the government will actually pass the measure.
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TV Next: Time Warner's Roku future
Time Warner teams up with Roku to offer streaming cable. Google Drive outage threatens corporate uptake of Google and cloud-based products.
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Cheap generic drugs face possible legal liabilities
The Supreme Court will hear arguments on Tuesday in a case that could decide whether generic drug makers can be held liable for alleged flaws in the designs of their medications.
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Mayor Bloomberg to stores: Hide your cigarettes
New York City Mayor Bloomberg is proposing a ban on cigarette displays in stores. It’s the latest proposal aimed at making New York a little healthier.
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Retailer sues Visa: Are credit card companies too strict on hacking?
Tennessee-based retail chain Genesco is suing Visa, saying the penalty it paid for a data breach was wrong.
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Sheila Bair: Cyprus deposit tax unlawful, destabilizing
Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corporation, shares her views on the Cyrpriot bailout plan and whether such a levy could ever happen to U.S. depositors.
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Luggage Check: Increased travel boosts luggage industry
Travel is up, and so are purchases of new suitcases.
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Could the Cyprus deposit tax lead to a bank run?
Bank runs become a problem because banks don’t actually have a lot of money in the bank. Your deposit, to a bank, is a loan -- and most of that money gets lent out again.
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