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News In Brief

MID-DAY UPDATE: BP thinks it can plug leak and IMF raises global growth

Daryl Paranada Jul 8, 2010

The Mid-Day Update is a five-day-a-week podcast from the Marketplace Morning Report co-hosted by Bill Radke and Steve Chiotakis that wraps up the morning news in a fun little package. Listen here every day at 10 a.m. PT or download it to your iPod by subscribing to the Morning Report Podcast:

The Obama administration goes to court today to try and keep the six-month ban on deepwater drilling in place. The president says it will help make sure another oil leak doesn’t occur. The court will also hear from oil companies who say a blanket drilling moratorium is too broad. Meanwhile, BP thinks it can stop the oil leak by July 27, weeks ahead of schedule — and also in time for the second-quarter earnings report.

The International Monetary Fund has raised its forecast for global growth, including continued recovery in China and the United States.

It has been a long and dramatic build up, but NBA star Lebron James will take part in an hour-long special tonight to finally announce whether he’s staying with the Cleveland Cavaliers, or moving on.

Some big-name corporations are backing an electric vehicle initiative in Kansas City, Mo. which has $32 million in stimulus support.

The private equity firm Kohlberg Kravis Roberts, better known as KKR, is taking another shot at going public. It tried once before back in 2007, but the financial crisis squashed that, and the fact that it’s trying again is a big deal.

About 454,000 people lost their jobs last week and filed for unemployment benefits, which is better than what many analysts were expecting. Jobless claims fell by 21,000 down to their lowest level since May.

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