Marketplace Morning Report for Tuesday, August 7, 2012
The British firm Standard Chartered bank isn't a bank you'll find on every corner in the United States, even though it processes almost $200 billion worth of global transactions every day. But it could soon have its banking license revoked in the nation's financial center, because of allegations that the bank has been hiding tens of thousands of secret transactions with Iran. This week, companies like Macy's, Kohl's, Nordstrom and JCPenney will reporter earnings, but those earnings will only tell part of the story. In Australia, there's a new tax on greenhouse gas missions, and it was expected to help the poor and the elderly. They get a refund to pay for basic goods like food and electricity.