There were 46.5 million Americans below the poverty line last year, the Census Bureau says, vs. 46.2 million in 2011. In another sign that the economy's recent growth hasn't translated into better times for many Americans, Census said the median household income was $51,017, vs. 2011's $51,100."
Entrepreneur Fernando Espuelas speaks with host Michel Martin about why he thinks more Latino business leaders need to step up to the plate. Espuelas was named by PODER Magazine as one of "The Nation's 100 Most Influential Hispanics" in 2012.
Reports show that Latinos are plugged into social media, but does this mean they are turning from traditional media? Host Michel Martin speaks with Viviana Hurtado, founder of The Wise Latina Club, and entrepreneur Fernando Espuelas about how social media is helping to empower Latinos.
One word: oversupply. Too many ships were built before the 2008 global economic crisis. This drove down shipping rates, forcing the industry to scale back. The effects are still being felt. This week, a Finnish shipbuilder said it would close a yard that employed 700 workers.
Consumer prices rose just 0.1 percent in August and were up only 1.5 percent from a year earlier. The report seems to fit with the notion that the Federal Reserve has accomplished its objective: Give the economy enough of a lift to keep it moving, but not so much that inflation takes off.
Many economic analysts expect the Federal Reserve to announce the first reduction in its stimulus program on Wednesday. The Fed has been pumping money into the financial system by purchasing U.S. government bonds and mortgage-backed-securities.
Five years after the collapse of Lehman Brothers, President Obama is touting an economic comeback. But he says the country still has a long way to go to restore prosperity for the middle class. He warned Republicans in Congress not to impede the recovery by staging another showdown over the debt ceiling.
The Japanese company Sanrio has licensed the pudgy face cartoon cat to a Taiwanese beverage maker which is selling fruit-flavored beer in China and Taiwan. Sanrio dismissed claims that the beer is being pitched to underage consumers.
The fine is reportedly said to be at least $700 million for what authorities say were massive derivative bets made without adequate risk controls in place. The case became known as the "London Whale" owing to the size of the trades made.
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