Originally published on Wed December 19, 2012 11:26 am
Robert Bork, who was at the center of Senate hearings that "marked the modern battle lines over judicial nominations," as NPR's Nina Totenberg has said, is dead, according to The New York Times, Fox News and The Associated Press.
Swiss banking giant UBS AG has agreed to pay $1.5 billion in fines to regulators in the U.S., Britain and Switzerland for its part in a scheme to manipulate the London interbank offered rate (LIBOR), which is used to set rates on contracts around the world.
It's MORNING EDITION, from NPR News. Good morning. I'm David Greene.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep.
Even before the events of the last few days, Congress had a busy agenda. Lawmakers are negotiating over taxes and spending that could affect the economy in the year ahead, not to mention almost every part of the federal government and the take-home pay for millions of Americans.
NPR's business news begins with a global bank settlement.
It's the big Swiss bank, UBS. It announced this morning that it will pay a total of $1.5 billion in fines for its role in rigging the interbank lending rate known as LIBOR. The settlement will be paid to Swiss, British and American regulators.
Greece got a rare bit of good news late yesterday. Standard and Poor's upgraded the country's credit rating six notches to a B minus. I mean, not the worst grade on your report card, but in the financial world this is junk bond status.
Still, Joanna Kakissis reports from Athens that there is a more stable outlook.