One thing about the economic pain Spain, and other EU countries, are now experiencing - it's offering something of a break to President Obama in this campaign season, where he's trying to fend off Republican attacks on his handling of the sluggish American economy. In a White House press conference this morning, the president was able to point to Europe's financial woes as a drag on the economy here in the U.S.
The NBA finals aren't the only big news in Oklahoma City.
This morning, shareholders of Chesapeake Energy, the natural gas driller at the center of the nation's hydraulic fracturing controversies, are meeting in Oklahoma City, where the company is headquartered. But the buzz at this gathering won't be about fracking or basketball. It will be about Aubrey McClendon, Chesapeake's controversial CEO.
And today's last word in business is: Crispy and cheesy and really, really profitable.
You might remember when we introduced you to Taco Bell's Doritos Locos Taco a few months ago. It's a taco made with a shell of Nacho Cheese Doritos. Taco Bell's chief executive hailed it as a flavor pairing waiting to happen. And after a huge media rollout, taco lovers have spoken by buying 100 million Doritos Locos Tacos in about 10 weeks. That is a whole lot of tacos.
Federal Reserve Chairman Ben Bernanke told a congressional committee Thursday that the U.S. economy faces some significant risks, and Fed officials are still deciding what to do about it.
His remarks disappointed a lot of investors who want the Fed to do something to revive growth. Bernanke spoke at a time when interest rates on government debt are hitting lows not seen since the Great Depression.