Week of October 8th, 2012

Weekly Wrap: Can we get to 6 percent unemployment? Banks reports big profits. And the EU wins the Nobel.

The Nobel committee has awarded the Peace Prize to none other than the European Union. Meanwhile in the U.S., Pennsylvania Gov. Tom Corbett has signed a bill that will allow controversial fracking on several Pennsylvania college campuses. Amy Scott reports on a school that’s opened up an on-campus vision center for students. Some craft micro-brewers are changing the stigma of going from glass to aluminum. And the vice presidential candidates debated jobs and 6 percent unemployment last night in their debate. We get the website Rap Genius to help us decode what Joe Biden and Paul Ryan said.

The Nobel Prize committee announces their pick for this year's Nobel Peace Prize. The winner? The European Union.

Mahbod Moghadam of RapGenius.com says the lack of rhyme in the vice presidential debate was "malarkey".

The explosion in craft brewing has meant a huge increase in the number of small breweries who ship their beers in cans.

A list of helpful links to aid you with your personal finance questions.

Pennsylvania's state colleges have been hit hard by budget cuts. Now the state is allowing natural-gas drilling on campuses to raise money for the system.

Biden, Ryan razzed in quick response ads

This latest earnings season continues today with profits from two of the country's largest banks. Martin Luther King, Elie Weisel, Aung San Suu Kyi — to these Nobel Peace Prize winners today we add the European Union. A couple weeks into the fall TV season, viewership is down 11 percent across the major broadcast networks.

We're just a few weeks into the new fall TV season and viewership is down 11 percent across the major broadcast networks. Is it just a year of bad TV? Or should they worry in TV Land?

With the Federal Reserve's interest rate near zero and the recovery still slow, some economists are speculating on what you might call a "nuclear option".

The financial sector is doing better than last year on a bumper mortgage business and lower loan-loss reserves.

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At last some good news for Europe — racked by the worst economic crisis in its history, the European Union has just won the Nobel Peace Prize.

The post office said today it's going to make it through the month without going broke, thanks to the presidential election.

There’s a new online scam that might freeze you at your keyboard: Software that for all intents and purposes, threatens to shoot your computer if you don’t pay. The bad guys infect your system and hold it for ransom by locking up your hard drive with encryption. How to protect against it? A familiar line: backup your files! But let’s be honest: how many of us consistently back up our files, really?

Google's Android and Apple's iPhone are vying for number one and two in the smart phone market. BlackBerry comes in third with 11% of the market and 90 million users around the world, but just who are these users?

Twitter CEO Dick Costolo discusses the role of the social media site in today's world, whether it will go public, and how it deals with privacy issues.

Twitter CEO Dick Costolo discusses the role of the social media site in today’s world, whether it will go public, and how it deals with privacy issues. Latino voters are becoming more and more influential in this year’s in the presidential election, and a new report suggests they support Obama 3:1. Google’s Android and Apple’s iPhone are vying for number one and two in the smart phone market. Blackberry comes in third with 11% of the market and 90 million users around the world — just who are these users?

This weekend, a full show dedicated to our listeners and any personal finance questions you might have. Liz Weston, personal finance columnist with MSN Money,  joins host Tess Vigeland to cover a diverse range of topics. From improving your credit score to managing student loan debt, short selling your underwater house to paying off all those credit cards — we’re answering your questions and offering up sound advice.

A new hacker scheme locks your hard drive and your files and prompts you to pay up…or else.

Organizers say Endeavour's road trip through the neighborhood is an event; some locals and business owners say it's an inconvenience.

Hit by new regulations and low interest rates, banks are likely to dip into reserves for bad loans again to boost third-quarter profits.

Plus size clothing for women — namely, size 14 and up — is no longer just the domain of budget American clothing. Some of the most prestigious European houses, including Balenciaga and Oscar de la Renta are getting into the business.

Get ready to chat along with us on our live blog and video stream of the vice presidential debate tonight with this list of what we're reading today.

The space shuttle Endeavour will travel through South L.A. this weekend on its way to its final resting place, and some residents feel more inconvenienced than intrigued. After nearly 30 years, fast-food chain Wendy’s has decided to update its logo. South Carolina’s governor says that colleges should earn the money they get from the state. San Bernardino’s bankruptcy struggles have caused a division among its citizens. The infamous Central American gang MS-13 received the designation of international criminal organization by the Obama administration. And we hear about the rise of plus-size fashion.

Despite increased interest in vice presidential debates — from Sarah Palin and Joe Biden to tonight's Biden-Ryan showdown — polls show these debates don't really change the vote in November.

The MS-13 gang that started as a local street gang in El Salvador will now be designated a transnational criminal organization. That means the U.S. Treasury Dept. can target its financial assets.

South Carolina Gov. Nikki Haley says state college funding should be tied to graduation rates and whether grads get jobs.

Since San Bernardino declared bankruptcy this summer, tensions have been rising and elected officials have been struggling to agree on a big idea to fix the city's problems.

A security glitch with the brand new version of the brower raises questions about its future.

The hamburger chain is updating its logo and look for the first time in 30 years, trying to rise above its fast-food competitors when fast food has lost some of its appeal.

A new survey shows the demographic group is most concerned about jobs, the economy, and education for their children.

New weekly claims for unemployment fell last week to the lowest level in four and a half years. Combined with last week's employment report, the claims data provides evidence of a slowly improving job market.

Allen campaign decries 'scare tactics' in race for U.S. Senate in Virginia

The head of the International Monetary Fund today sends a conflicting message to spend and stop cutting. New weekly claims for unemployment fell last week to the lowest level in four and a half years. The U.S. Anti-Doping Agency has released a report on alleged doping by retired cyclist and cancer survivor Lance Armstrong, but support for Armstrong's charitable organization Livestrong may be immune.

This week Mexican marines took out the leader of one of Mexico's most powerful drug gangs, the Zetas. There's some hope this might disrupt their reign of terror there and open up cross-border business and trade.

The next presidential debate is on Tuesday, October 16th, and this one is a town hall with 84 people in the audience. The participants will get to quiz the candidates — but how are they selected?

New weekly claims for unemployment fell last week to the lowest level in four and a half years. Elsewhere around the world, the S&P has downgraded the soveign debt of Spain.

The U.S. Anti-Doping Agency has released a report on alleged doping by retired cyclist and cancer survivor Lance Armstrong. But support for Armstrong's charitable organization Livestrong may be immune.

The number of employed Americans has nearly doubled over the past 30 years, but so has the number of people not in the workforce. Watch the U.S. employment picture change with our animated GIF.

Vice President Joe Biden will face Congressman Paul Ryan on the debate stage tonight, and Paul Ryan's Medicare plan is sure to be a hot topic. Polling shows most Americans are against Ryan's voucher proposal, but do recognize the need for system reforms.

The head of the International Monetary Fund, Christine Lagarde, wants countries to stop cutting and start spending. In Tokyo today, the leader warned that austerity is making the global economy worse.

A new start up called Lend Up is plunging into a line of work with one of the worst reputations in all of finance. The hope? To transform payday lending. LendUp’s Jake Rosenberg says the inspiration is microlending, which has worked in very poor parts of the world. Today, MIT is starting an outfit dedicated to delivering us from our wireless streaming frustrations. The newly minted Center for Wireless Networks and Mobile Computing is working on a technology called Softcast, and the results for cleaning up choppy online video are pretty impressive.

Payday lending — an area of finance with one of the worst reputations — may get a facelift with new start up LendUp, which takes its inspiration from microlending. Today, MIT is starting an outfit dedicated to delivering us from our wireless frustrations.

A company offers a second life for called-off nuptials.

Republicans have been calling it the weakest recovery in U.S. history, but comparing recessions and recoveries has become incredibly controversial because, as in the case of much of economics, it all depends.

Macy’s is opening its doors to Toys ‘R’ Us — the toy retailer will set up shop in two dozen stores for the holiday season. The Agriculture Department is scheduled to release its latest estimates for this year’s corn and soybean crops this morning and is forecasting the smallest corn and soybean harvest since 2004. We have reached debate night number two of the presidential race, and there’s a good bet the strength or weakness of our economic recovery is going to play a starring role. How does today’s economic recovery stack up to those in the past?  

The toy retailers will set up shop in two dozen stores for the holiday season.

Walmart workers protest against unfair labor practices as a small number of store workers walk off the job, a first for the retailer.

Toyota recalls 7.4 million vehicles after a sticky power window switch caused fires. Two years ago, Toyota suffered from sticky accelerators.

About six months ago, we started a new project, a special collaboration with Frontline on PBS, to break through the noise around one key issue: the fallout from the Supreme Court's decision on Citizens United.

No longer restricted to calling on union members, canvassers can now knock anyone's doors. And that could change the outcome of the election.

Outside spending enabled by the Supreme Court's decision in Citizens United has accounted for $119 million in spending on the presidential race.

We kick off Big Money, our special reports all this month on Citizens United and campaign financing, a special Marketplace collaboration with Frontline on PBS. Nancy Marshall-Genzer explores how the Citizens United decision has boosted union canvassers. Meanwhile, Money Matters takes a look at the costs of childcare. Walmart’s first ever retail worker strike has spread to 12 cities and shows no sign of slowing down. Toyota has announced another recall and this time it involves 7.4 million vehicles. And the drought has caused a shortage of dairy for businesses, and a price increase for customers.

Many dairy farmers culled their herds because of high feed prices caused by the drought, reducing the supply of milk. Price increases will flow through many food products beyond a carton of milk.

With childcare costs on the rise, it may be more affordable for some parents to stay home with the kids. But there are hidden costs.

Walmart stores in a handful of cities will double as distribution centers as the online giant moves into super quick delivery.

After this summer's drought, nobody expected good news from this morning's USDA crop report.

Commentator Robert Reich says a steady march of technology leaves increasingly obsolete jobs in its wake.

Global markets are digesting the fact that the head of China's central bank will be a no-show at this week's meeting of the IMF. Toyota is recalling 7.4 million cars around the world. The Red Cross is getting involved in the European Debt Crisis — the organization is asking for donations to help the poor in Spain.

House races top outside spenders' agenda

There haven't been any reported safety issues over the power window switch problems, but Toyota isn't taking any chances with this recall.

The Supreme Court's review of racial preferences in college admissions won't invalidate racial considerations in hiring.

As China and Japan are disputing island territories, the head of China's central bank will be a no-show at this week's meeting of the International Monetary Fund in Japan.

This afternoon the Federal Reserve will release the Beige Book — it's summary of economic conditions across various regions of the country,

The disaster relief agency asks for help to assist those affected by the European debt crisis.

Here’s an idea: Put kiosks throughout a mall armed with facial recognition cameras that figure out a shopper’s gender and age. The Wall Street Journal says it’s happening now at the International Finance Center Mall in Seoul, South Korea. The system then makes shopping recommendations and will soon generate customized ads.  Add the Taiwanese military to the list of people who think the new maps on Apple phones and tablets need fixing. Authorities there are unhappy with how clearly a secret long-range radar base in Taiwan shows up when you check the location on the iPhone 5. The brass is asking Apple to lower the resolution, that is to say blur it a bit. 

A mall in Seoul, South Korea is installing facial recognition cameras to read shoppers' gender and age in order to generate customized ads.

The new ABC drama “Nashville” is shot in and around the Tennessee city, and local tourism officials are basking in the TV spotlight. American Airlines could face continued business fallout even as CEO apologizes to passengers for delays and talks resume with pilots. Higher production could make Iraq the world’s second-largest oil exporter. Most of the added oil won’t go to the U.S., but to countries helping Iraq rebuild its oil facilities and basic infrastructure.

American Airlines airlines has blamed its pilots, who are unhappy with new pay and work rules, for purposefully forcing delays and cancellations in protest.

The shipping company said it could boost its bottom line by nearly $2 billion.

American Airlines could face continued business fallout even as CEO apologizes to passengers for delays and talks resume with pilots.

Hundreds of thousands of well-paid jobs in manufacturing are left empty because many people lack the skills to fill positions as machinists or welders.

German Chancellor Angela Merkel visited Greece, and was greeted by massive street protests. Meanwhile, Wall Street Journal reporter Liz Rappaport discusses how Wall Street is now backing Mitt Romney this election after backing Barack Obama in 2008. Welders are in big demand and have the potential to bring home large paychecks. A Chicago official looking to reduce gun violence and to close a budget gap has proposed taxing guns and ammunition. After Hurricane Katrina, insurance premiums rose sharply in the Gulf, and residents say the increase may lead them to lose their homes. And the Amish are now venturing into other forms of business.

Higher production could make Iraq the world's second-largest oil exporter. Most of the added oil won't go to the U.S., but to countries helping Iraq rebuild its oil facilities and basic infrastructure.

What are Greeks thinking about after a visit from Germany's Chancellor Merkel? Anger, frustration — and some merriment.

Increased competition in farming has led Amish farmers to become more progressive in order to stay in business.

How a candidate staffs his campaign says a lot about the candidate. How the campaign spends money can mean the difference between winning and losing.

The Illinois County that includes Chicago wants to help cover the costs of the city's rising gun violence by taxing ammunition.

Goldman Sachs has long supported Democrats in the presidential contest. But not this year. Why Goldman and other Wall Street banks are throwing their support behind Mitt Romney.

Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner are in India today talking about ways to improve economic ties with the U.S. The Cheesecake Factory is expanding to the Middle East. The IMF is forecasting slower global growth ahead. German Chancellor Angela Merkel is met with protests in Greece today.

Ads remind voters of Rehberg's legal attacks on city, fire department

The new ABC drama "Nashville" is shot in and around the Tennessee city, and local tourism officials are basking in the TV spotlight.

Gulf Coast insurance premiums have skyrocketed in recent years, and homeowners advocates say they're seeing people at risk of going into foreclosure because they can't afford their mortgage plus their insurance.

The third-quarter earnings season kicked off today with an ominous warning about global growth from the IMF. A weak consolation for Americans is that we are the only major economy where the IMF expects decent growth in the next year.

Casual dining chain, The Cheesecake Factory, is expanding abroad with 22 new locations in, of all places, the Middle East.

Companies in the S&P 500 predict lower third-quarter earnings by a four-to-one margin.

U.S. Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke are visiting India today to encourage the Indian market to open up to U.S. firms.

German Chancellor Angela Merkel is in Greece today for her first visit since the European debt crisis began. Greeks aren't laying out the welcome mat though, as masses come out to protest against German-led austerity.

The International Monetary Fund says economic growth in the world economy is slowing down sharply and that even the U.S. recovery is at risk.