Marketplace Morning Report for Wednesday, July 25, 2012

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A report from the Congressional Budget office says President Obama's health care law could save the federal government $84 billion over the next decade. That savings is mostly because of the Supreme Court ruling last month -- and a part of the law it ruled out. Caterpillar, the world's largest maker of construction and mining equipment, releases its quarterly earnings today. And reports issued by the U.S. Department of Agriculture don't usually create ripples beyond a small pond of farmers and investors, but today, though the USDA releases a much-anticipated briefing: the monthly food price forecast.
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L.A. city council votes to ban marijuana shops

Thanks to SB 420, Los Angeles has all other cities beat when it comes to pot dispensaries. But the city council has decided things are out of hand, and voted last night to ban all storefront medical marijuana shops.
Posted In: marijuana, california, drugs
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The money behind drug testing for Olympians

This year's games marks the first time a private company -- GlaxoSmithKline -- is aiding in the fight against athletic doping in the Olympics.
Posted In: Olympics 2012, GlaxoSmithKline, drugs, athletes
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PODCAST: A pool for Olympic betting or Greek prisoners?

A report from the Congressional Budget office says President Obama's health care law could save the federal government $84 billion over the next decade. That savings is mostly because of the Supreme Court ruling last month -- and a part of the law it ruled out. Caterpillar, the world's largest maker of construction and mining equipment, releases its quarterly earnings today. And reports issued by the U.S. Department of Agriculture don't usually create ripples beyond a small pond of farmers and investors, but today, though the USDA releases a much-anticipated briefing: the monthly food price forecast.
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Geithner: Knew of LIBOR issue, initiated reform process in 2007

Today as Treasury Secretary Timothy Geithner was officially presenting a report from the Financial Stability Oversight Council on the state of the economy, he was grilled about British banks' manipulation of the LIBOR interest rate.
Posted In: Timothy Geithner, LIBOR
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Former Citigroup CEO: Break up the banks

Former Citigroup CEO and anti-Glass-Steagall lobbyist Sanford Weill declared today that the major banks are too big and should be broken up.
Posted In: CNBC, Glass-Steagall, too big to fail
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Despite tepid earnings, revenues mostly down

Ford Motor saw profits fall by more than half in the second quarter and Apple profits came in lower than expected mostly due to slowing iPhone sales. What do today's earnings reports tell us about the state of the U.S. economy?
Posted In: apple, Earnings
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Rain or shine: Betting on the Olympics

The Olympics get underway later this week but the games have already started. People are betting on all things Olympic from the usual bets, like who will win certain events to less usual bets.
Posted In: Olympics 2012, London, Sports, gambling
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Secretary Geithner facing questions of LIBOR

Secretary Geithner is expected to tell the committee that the U.S. economy is starting to regain its footing, but still faces threats from uncertainty about government spending and taxes, and instability in Europe.
Posted In: Timothy Geithner, LIBOR
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LIBOR rigging could be made a crime in Europe

In the ongoing LIBOR interest rate rigging scandal, European lawmakers have proposed making interest rate rigging a crime.
Posted In: Banks, LIBOR
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Health care law could reduce government costs

A report from the Congressional Budget office says President Obama's health care law could save the federal government $84 billion over the next decade. That savings is mostly because of the Supreme Court ruling last month, and a part of the law it ruled out.
Posted In: health care reform law, medicaid, government spending
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The long and short of maternity leave

Yahoo's new CEO Marissa Meyer plans to return to work within weeks of having a baby. Her decision has other women talking.
Posted In: maternity leave
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Runner Nick Symmonds on the business of being an Olympian

Long-distance runner Nick Symmonds talks about why he thinks the Olympics sponsorship model is flawed.
Posted In: London Olympics, Olympics 2012
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The drought to affect prices at the supermarket

Expect the prices for meat and dairy goods to rise as the Midwest drought continues.
Posted In: Money Matters, drought
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Tempered optimism ahead of Caterpillar earnings

Caterpillar reports earnings today, and few expect the company to show much strength. The heavy equipment maker has been doing well, but that looks to change.
Posted In: manufacturing, Caterpillar

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