Business

New Law Creates Business Opportunities In China

4:52pm July 18, 2013

The law requires adults to provide financial and emotional support to their elderly relatives. The Wall Street Journal reports China's version of eBay now has listings that offer services like running errands and standing in line.

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Politics & Government

Senators Express Concerns About Smithfield Foods Merger

4:52pm July 18, 2013

by John Ydstie

Smithfield CEO Larry Pope tried to reassure lawmakers that the sale of his Virginia based company will not mean a transfer of jobs to China or a reduction in food safety. He appeared before lawmakers on the Senate Agriculture Committee on Wednesday.

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Wheat grows in a test field at Oregon State University in Corvallis. Some scientists believe that there's a chance that genetically modified wheat found in one farmer's field in May is still in the seed supply.

In Oregon, The GMO Wheat Mystery Deepens

4:34pm July 18, 2013

by Dan Charles

Government investigators are trying to solve an agricultural whodunit: How did genetically engineered wheat that was never approved for sale end up in a farmer's field in Oregon? Some are raising the possibility of sabotage; others suspect simple human error.

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Congress Takes Renewed Aim At Fannie Mae, Freddie Mac

7:45am July 18, 2013

by Chris Arnold

Risky bets by the mortgage giants Fannie Mae and Freddie Mac helped to trigger the financial crisis. After being bailed out by taxpayers and put under government conservatorship, there's new momentum in Washington to dismantle the mortgage giants.

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Stephen Balaban has re-engineered his Google Glass to allow for facial recognition.

National

Clever Hacks Give Google Glass Many Unintended Powers

8:55pm July 17, 2013

by Steve Henn

Whether it's facial recognition or snapping photos with a wink of an eye, hackers are proving it's possible to re-engineer Google Glass in a number of creative ways.

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Richard Cordray, director of the Consumer Financial Protection Bureau.

'We're Here To Stay' Says Newly Confirmed Consumer Watchdog

7:11pm July 17, 2013

by Mark Memmott

After two years of political bickering, Richard Cordray has been confirmed as head of the Consumer Financial Protection Bureau. He thinks that, in the end, his agency has won bipartisan support for the work it will do.

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The Federal Reserve, home of the Beige Book.

Economy

The 'Ask Your Uncle' Approach To Economics

7:11pm July 17, 2013

The Beige Book — a big, official report — is mostly a bunch of stories gathered by talking to businesses around the country.

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The government took over mortgage giants Fannie Mae (seen in 2010) and Freddie Mac in 2008, during the worst of the housing crisis.

Congress Debates Taking A Step Back From The Mortgage Market

7:11pm July 17, 2013

by Scott Horsley

Lawmakers are trying to figure out how to scale back the outsize role that mortgage giants Fannie Mae and Freddie Mac play in the housing market. A bipartisan Senate proposal would replace Fannie and Freddie with a scaled-down program, while a Republican House proposal would go even further.

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Economy

Rising Interest Rates Worry Banking Industry

5:08am July 17, 2013

by Jim Zarroli

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

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Weather Puts A Damper On Coca-Cola Sales

12:15pm July 16, 2013

Coca-Cola sales have slowed, in part because of the weather. The company says global soda sales rose by only 1 percent in the second quarter — less than expected. Coke's CEO cited rain and cold temperatures in the U.S., which seems to have put a damper on consumers' desire for a refreshing soft drink.

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