Feb 28, 2013

Marketplace Morning Report for Thursday, February 28, 2013

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We are just a day away from the sequester, which is Washington-speak for $85 billion worth of  federal spending cuts. The people who will feel the pinch first will likely be federal workers, some of whom could lose 20 percent of their pay. After the closing bell on Wall Street yesterday, J.C. Penny reported plunging sales and a half a billion dollars in losses for the last quarter. What's got the retailer down? And bankers in Europe are facing a cap on their bonuses as early as next year.

Segments From this episode

Sequester could upend lives of federal workers

Feb 28, 2013
Some federal employees stand to lose as much as 20 percent of their wages because of the sequester.

Sequester to hit long-term unemployment benefits

Feb 28, 2013
When state unemployment benefits run out, federal long-term unemployment payments kick in. But sequester budget cuts could reduce those payments, putting the squeeze on those who can least afford it.

Technology increases divide between rich and poor students: Report

Feb 28, 2013
A new study by the Pew Research Center's Internet and American Life Project finds that 8 out of 10 teachers think technology is leading to wider disparities between the haves and have-nots.

Sen. Chuck Grassley: We will go into sequester

Feb 28, 2013
U.S. Senator Charles Grassley (R-IA) joins Marketplace Morning Report host Jeremy Hobson to discuss the sequester and its likely impact on the economy.

EU looks to cap bankers' bonuses

Feb 28, 2013
EU officials have announced an agreement that would restrict the amount bankers can receive as as bonus.

J.C. Penney sales plunge amid 'bumpy transition'

Feb 28, 2013
J.C. Penney had another tough quarter. Sales were down 28 percent -- more than half a billion dollars.

Japan to restart nuclear plants

Feb 28, 2013
Japan's prime minister Shinzo Abe has called for some nuclear plants to reopen in order to ensure energy security for the country.

GDP grows at weakest pace in 2 years

Feb 28, 2013
The government has revised its latest GDP figures, saying the economy grew at a rate of 0.1 percent during the last three months of 2012. The increase was the weakest GDP performance in two years.

PODCAST: Grassley on sequester 'done deal', J.C. Penney earnings reveal

Feb 28, 2013
Senator Chuck Grassley (R-IA_ talks sequester standoff, J.C. Penney's sales plunge, and Japan's Prime Minister calls for idled nuclear plants to come back online.

We are just a day away from the sequester, which is Washington-speak for $85 billion worth of  federal spending cuts. The people who will feel the pinch first will likely be federal workers, some of whom could lose 20 percent of their pay. After the closing bell on Wall Street yesterday, J.C. Penny reported plunging sales and a half a billion dollars in losses for the last quarter. What’s got the retailer down? And bankers in Europe are facing a cap on their bonuses as early as next year.

The team

Stephen Ryan Producer, BBC