Business

6:51am

Wed June 13, 2012
The Two-Way

Sharp Drop In Gas Prices Puts Brakes On Inflation

Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline, the Bureau of Labor Statistics reports. The overall decrease is the largest in one month since July 2009.

Excluding the energy and sectors, prices at the wholesale level ticked up 0.2 percent.

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3:12am

Wed June 13, 2012
Energy

Ruling Could Help Break The Nuclear-Waste Logjam

Originally published on Wed June 13, 2012 10:43 am

About 70,000 tons of used nuclear fuel sits mostly at power plants across the country. Much is kept underwater in spent fuel pools, but utility companies have been moving the fuel into concrete and steel casks like these in Richland, Wash. Energy Northwest CEO Vic Parrish (center) tours the facility with Reps. Doc Hastings (left) and Jay Inslee.
Shannon Dininny AP

The federal government promised almost 30 years ago to find a place to bury nuclear waste from power plants. It hasn't. So the waste is piling up at power plants around the country.

Now a federal court says the government must prove that this temporary solution is truly safe. The decision could help break the nuclear-waste logjam.

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3:03am

Wed June 13, 2012
Planet Money

Spain's Bank Matchmaker On What Went Wrong

Originally published on Mon July 9, 2012 6:55 pm

Angel Borges, matchmaker.
Chana Joffe-Walt NPR

A couple years ago, Spain hatched a plan to help its small, regional banks. The banks, called cajas, had made lots of bad loans during Spain's real estate bubble.

The plan: Merge the bad cajas with the good ones, in order to make the losses more manageable and bring down overhead.

The government brought in Angel Borges, a banking consultant from Madrid, as a sort of yenta — a matchmaker who was supposed to help the cajas get together.

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5:15pm

Tue June 12, 2012
The Two-Way

From Our Readers: Less Hedginess, More Neology

Our use of the term "hedginess," coined by finance criminologist Bill Black, inspired commenter "Tim Myers" to engage in some neology of his own in order to prove his point:

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5:05pm

Tue June 12, 2012
The Two-Way

Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss

Originally published on Wed June 13, 2012 8:00 am

JPMorgan Chase Chief Executive Officer Jamie Dimon.
Mario Tama Getty Images

"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."

That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.

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