News In Brief

News today on the fate of Social Security and Medicare, Moet and Hennessy set up production in China

Katharine Crnko May 13, 2011
News In Brief

News today on the fate of Social Security and Medicare, Moet and Hennessy set up production in China

Katharine Crnko May 13, 2011

Here are today’s top headlines from the Marketplace Morning Report and from around the web.

The Labor Department’s Consumer Price Index was up 3.2 percent in April, the highest figure since October 2008 when the global financial crisis was accelerating. Here is Marketplace’s coverage.

U.S. inflation hit the highest level in two-and-a-half years as food and energy prices moved higher, official data said today. You can read Marketplace’s coverage here.

Google is close to settling a criminal investigation into allegations it made hundreds of millions of dollars in profit by accepting ads from only pharmacies that break U.S. laws. Earlier this week the company said it was setting aside $500 million to potentially resolve the case with the Justice Department.

The Wall Street Journal is reporting today that a growing number of House Republicans are expressing doubt that the they need to raise the debt ceiling by August 2. The Treasury Department disagrees. Treasury Secretary Timothy Geithner has said if Congress didn’t raise the debt limit by August 2, it could have a “catastrophic economic impact.”

The trustees who oversee Social Security and Medicare will release their annual reports on the programs’ finances later today. The report will update last year’s predictions for the two entitlement programs. Here is Marketplace’s coverage.

The eurozone economy grew at the strongest annual rate for the three-and-a-half years since the first quarter of 2011 thanks to a powerful surge in Germany and France. Because of this, the EU has raised its 2011 forecasts for economic growth. Check out Marketplace’s coverage.

Arts and crafts supply store Michaels Stores has announced that customers in 20 states could be affected by debit card fraud stemming from tampered checkout terminals. Here is Marketplace’s coverage.

Moet Hennessy — the company that owns such historic champagne brands as Dom Pérignon, Veuve Cliquot and Krug — has announced that they will be expanding sparkling wine production to China. Don’t forget to check out Marketplace’s coverage.

To Broadway, where “Spider Man: Turn off the Dark” reopened last night after a three-and-a-half week overhaul. This is the same $70 million production of Spiderman that has been plagued by injuries and mechanical malfunctions. According to reports, last night’s show went over without any major glitches. It was also the 146th preview performance of the show. Perhaps the thought is a show can’t be closed if it never opens.

Her hat made such a splash at William and Kate’s royal wedding, that Princess Beatrice of York is auctioning it off on eBay for charity. The blush-colored bonnet that stands at least a foot tall and resembles a ribbon and bow, is bidding at over $9,000. The hat also has a Facebook page with tens of thousands of likes.

You can read the rest of today’s stories from the Marketplace Morning Report here.

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