The United States Postal Service reported a record $15.9 billion loss in fiscal year 2012. That compares to a $5.1 billion loss last fiscal year.
Bloomberg reports that the postal service is forecast to run out of cash by Oct. 15, 2013 when it is scheduled to make a workers compensation payment to the Labor Department. The Postmaster General Patrick Donahoe painted a grim picture when he announced the loss.
Originally published on Thu November 15, 2012 2:16 pm
There has been no dearth of post-election Republican self-flagellation.
Louisiana Gov. Bobby Jindal, on the eve of heading out to a meeting of Republican governors in Las Vegas, warned the GOP to "stop being the stupid party." At the gathering Wednesday night, he leveled more harsh criticism at party presidential candidate Mitt Romney.
There were 439,000 first-time claims for unemployment insurance last week, up by 78,000 from the week before, the Employment and Training Administration says. Behind the big increase: Superstorm Sandy, which threw some people in the Mid-Atlantic onto the unemployment rolls and shut down state unemployment offices the week before — meaning that some claims were postponed into last week.
Originally published on Thu November 15, 2012 4:32 pm
Update at 11:30 a.m. ET: Oil giant BP has agreed to plead guilty to criminal misconduct related to the 2010 Gulf Oil spill and will pay a record $4 billion in criminal penalties, the company just confirmed. And it will pay $525 million in civil penalties in a resolution with the Securities and Exchanges Commission. BP will make the payments over six years.
Good morning. I'm Steve Inskeep. First, they taxed the rich, and the people said nothing. Then they went after the Nutella. The French Senate approved a measure tripling the tax on palm oil and other vegetable oils. It would sharply raise the cost of making Nutella, a popular chocolate and hazelnut spread. The tax is meant to cut down on obesity, but has prompted an outcry from Nutella lovers. And the maker of the spread promises the recipe will not change. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.