Mid-day Update

PODCAST: Big business not invited to the Tea Party

David Brancaccio Oct 18, 2013
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Mid-day Update

PODCAST: Big business not invited to the Tea Party

David Brancaccio Oct 18, 2013
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The partial government shutdown and debt ceiling fight in Congress have set the stage for a brewing GOP fight between more establishment candidates and the Tea Party wing ahead of the 2014 congressional elections. The business community helped elect some of the Tea Party types who pushed to shut down the government and not raise the debt ceiling. But business groups also had a lot at stake in the debt ceiling fight, and were really worried about financial instability.

The LIBOR interest rate rigging scandal has provoked a row in the U.S. about freedom of the press. The Wall Street Journal claims that it has been muzzled by British prosecutors.

China growth figures released today show an economy that’s growing faster than expected. The country’s third-quarter GDP is currently at a rate of 7.8 percent from a year earlier – up from 7.5 percent in the second quarter and 7.7 percent in the first quarter.

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