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Dec 28, 2011

Marketplace Morning Report for Wednesday, December 28, 2011

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San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace's resident poet described the deal at the time.

Segments From this episode

Other nations promise help if Iran cuts off oil supply

Dec 28, 2011
Oil prices are down a bit this morning after a Saudi oil official said his country would pump more crude. That follows Iran's threat to block the Strait of Hormuz, where about one fifth of the world's oil passes through.

Iran oil blockade unlikely to go through

Dec 28, 2011
Halting, or even dislocating, the flow of one-fifth of the world's oil supply could send the price of crude into the stratosphere. But the oil market doesn't appear to take the threat seriously.

Obama nominates two for Federal Reserve board

Dec 28, 2011
The Obama administration hopes that the Senate will approve its two appointees -- one Democrat, one Republican -- to the Federal Reserve board.

Italian bond sale, Iranian threat impacting markets

Dec 28, 2011
Iran has repeated its threat to block the Straight of Hormuz where about a-fifth of the world's oil passes through. In Italy today, investors seemed happy to buy up the country's debt.

As euro turns 10, a look back at its history

Dec 28, 2011
It'll be the euro's 10th anniversary come New Year's Day. What economists predicted back then, and how true it holds now.

Blocking Strait of Hormuz would affect gas prices immediately

Dec 28, 2011
Iran has threatened to block the strait if President Obama signs a bill to impose sanctions to keep it from making nuclear weapons. The impact on oil prices worldwide would be major and immediate.

PODCAST: Blocking the waterway, blocking the oil

Dec 28, 2011
San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace's resident poet described the deal at the time.
A general scenic view of the Siyo-se-pol bridge on the Zayandeh-Rood river in Isfahan, Iran. Authorities there are threatening to block the Strait of Hormuz, where 20 percent of the world's oil goes through.
Majid Saeedi/Getty Images

New York union workers threaten strike

Dec 28, 2011
A strike by the union representing office building workers hasn't happened in more than a decade, but Occupy Wall Street and the 99 percent mentality have given union members more confidence lately.
Janitors and supporters from Service Employees International Union (SEIU) Local 1 hold a rally outside the Thompson Center Sept. 28, 2011 in Chicago, Ill. The rally was one of 22 held nationwide by the union to galvanize their members before contracts for 160,000 janitors around the country expire next year.
Scott Olson/Getty Images

Mid-day Extra: Occupy Wall Street is history

Dec 28, 2011
A number of museums are already collecting Occupy Wall Street materials in the hopes for future exhibits. Is it too soon?

Iran reacts to U.S. threat of nuclear sanction

Dec 28, 2011
Iran has threatened to send military ships to block the Strait of Hormuz if President Obama signs a bill to impose sanctions to keep Iran from making nuclear weapons.

What the Strait of Hormuz means for world oil

Dec 28, 2011
Iran's navy chief said today his country could very easily close the world's most important oil transit channel. The threat to close it comes after the West imposed more sanctions on Iran over its nuclear program.

San Francisco minimum wage is first to top $10

Dec 28, 2011
One industry -- restaurants -- feels the city's minimum wage policy especially hard.

NLRB board vacancies could stall major labor decisions

Dec 28, 2011
The National Labor Relations Board is about to lose the ability to enforce the nation's labor laws. On Dec. 31st, three of the five seats on the Board will become vacant. Without a quorum, the NLRB cannot decide cases.

San Francisco has raised to the minimum wage to over $10 an hour, and that will effect the cities famed restaurants. On the other side of the country, negotiations will start today in New York between building owners and the union representing the people that clean those buildings. As the 10 year birthday of the euro approaches, David Brancaccio looks back at how Marketplace’s resident poet described the deal at the time.

The team

Stephen Ryan Producer, BBC