The Canadian oil company TransCanada plans to expand a pipeline to transport crude oil from Alberta to Texas through the central U.S. The proposal has sparked debate on both sides of the border about energy security, the environment and safety.
Factory orders rose 2.4 percent in July on the biggest jump in demand for autos in more than eight years and a surge in commercial airplane orders. The increase suggests supply chain disruptions created by the Japan tsunami crisis are easing.
Government agencies and private employers said this month that they plan to lay off 51,114 workers, the outplacement consultants Challenger, Gray & Christmas reported this morning. Meanwhile, ADP says private payrolls rose by 91,000.
The idea that money spent on fixing the billions in damages will be good for the overall economy is known as the "broken window fallacy," Planet Money's Adam Davidson says. In reality, spending is just shifted around.
Russia and Exxon have reached an agreement that opens the way for oil exploration in the Russian sector of the Arctic Ocean. And it allows the Russians access to projects in other parts of the world, including the United States. David Greene talks to Julia Ioffe, of Foreign Policy magazine who's covering the story in Moscow.
St. Louis-based US Fidelis sold more than 400,000 faulty contracts before it collapsed in 2009 amid fraud allegations. But Missouri's Better Business Bureau says it's still receiving hundreds of complaints about similar companies marketing auto service contracts.
Hurricane Irene tore a path through some big coastal tourist destinations. That means some restaurants will miss out on Labor Day, usually a big weekend. In Monmouth Beach, N.J., Sallee Tee's Grille was flooded. And its chef-manager says it may take weeks to rebuild.
Washington is poised to take over a large chunk of valuable land after the Walter Reed Army Medical Center closes. There are many proposals for how to use it — from dog parks to retail space. But none of the ideas is likely to happen anytime soon.
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