12/28/11
Marketplace Morning Report for Wednesday, December 28, 2011
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San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace's resident poet described the deal at the time.
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As euro turns 10, a look back at its history
It'll be the euro's 10th anniversary come New Year's Day. What economists predicted back then, and how true it holds now.
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NLRB board vacancies could stall major labor decisions
The National Labor Relations Board is about to lose the ability to enforce the nation's labor laws. On Dec. 31st, three of the five seats on the Board will become vacant. Without a quorum, the NLRB cannot decide cases.
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New York union workers threaten strike
A strike by the union representing office building workers hasn't happened in more than a decade, but Occupy Wall Street and the 99 percent mentality have given union members more confidence lately.
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Other nations promise help if Iran cuts off oil supply
Oil prices are down a bit this morning after a Saudi oil official said his country would pump more crude. That follows Iran's threat to block the Strait of Hormuz, where about one fifth of the world's oil passes through.
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What the Strait of Hormuz means for world oil
Iran's navy chief said today his country could very easily close the world's most important oil transit channel. The threat to close it comes after the West imposed more sanctions on Iran over its nuclear program.
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Iran oil blockade unlikely to go through
Halting, or even dislocating, the flow of one-fifth of the world's oil supply could send the price of crude into the stratosphere. But the oil market doesn't appear to take the threat seriously.
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Obama nominates two for Federal Reserve board
The Obama administration hopes that the Senate will approve its two appointees -- one Democrat, one Republican -- to the Federal Reserve board.
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Iran reacts to U.S. threat of nuclear sanction
Iran has threatened to send military ships to block the Strait of Hormuz if President Obama signs a bill to impose sanctions to keep Iran from making nuclear weapons.
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PODCAST: Blocking the waterway, blocking the oil
San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace's resident poet described the deal at the time.
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Mid-day Extra: Occupy Wall Street is history
A number of museums are already collecting Occupy Wall Street materials in the hopes for future exhibits. Is it too soon?
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Italian bond sale, Iranian threat impacting markets
Iran has repeated its threat to block the Straight of Hormuz where about a-fifth of the world's oil passes through. In Italy today, investors seemed happy to buy up the country's debt.
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Blocking Strait of Hormuz would affect gas prices immediately
Iran has threatened to block the strait if President Obama signs a bill to impose sanctions to keep it from making nuclear weapons. The impact on oil prices worldwide would be major and immediate.
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San Francisco minimum wage is first to top $10
One industry -- restaurants -- feels the city's minimum wage policy especially hard.
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