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Yellen's Nomination To Fed Gets OK From Senate Committee

If confirmed by the full Senate in December, Janet Yellen would become the first woman to lead the central bank. She's currently the Fed's vice chairman. Analysts do not expect major policy shifts after the departure of current Chairman Ben Bernanke.

Saudi Arabia's Global Arms Shopping Spree

The Saudis accounted for a quarter of all sales by Germany. It's part of an emerging pattern of weapons purchases by Saudi Arabia and its neighbor United Arab Emirates. Both countries are major customers of the U.S., the world's No. 1 arms seller.
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Friday News Roundup - Domestic

President Barack Obama meets with insurance executives on fixing cancelled policies. Senate Republicans block the president's third judicial nominee in three weeks. And America marks the 50th anniversary of President John F. Kennedy's assassination. A panel of journalists joins Diane for analysis of the week's top national news stories.


Jobless Claims And Wholesale Prices Drop

Fresh data signal that the labor market is at least holding steady and that inflation remains in check. In other major economic news Thursday, Janet Yellen's nomination to head the Federal Reserve is expected to be OK'd by the Senate Banking Committee.

2014 Greece Budget To Contain No Austerity Measures

Greece is set to submit a 2014 budget to parliament on Thursday, and it does not include the new wage cuts and tax hikes requested by the European Union and the International Monetary Fund. Those institutions lent Greece billions in bailout loans and are demanding austerity.

Tribune Media Company To Lay Off 700 Employees

The company owns seven daily newspapers including the Chicago Tribune and the Los Angeles Times. The company says the cuts will mostly affect the publishing side of the business — not editorial staff. The company says it's part of an ongoing effort to consolidate its business.

Oil Industry And Others Cheer EPA's Ethanol Proposal

The EPA's decision not to force oil companies to replace E10, gasoline mixed with 10 percent ethanol, with E15, had a big impact on a lot of businesses. For manufacturers of motorcycles, motor boats and outdoor power equipment, it was good news. But for gas station owners who invested in expensive blender pumps, the decision hurt.

Elvis Presley Enterprises Sold To Authentic Brands

Authentic Brands Group, which already manages Marilyn Monroe's brand, will acquire rights to Elvis's photos, music, movie and TV appearances. The price has not yet been disclosed.

Obama, State Insurance Commissioners Talk Policy Extensions

President Obama met with state insurance commissioners to discuss changes to the implementation of the Affordable Care Act. Some commissioners are in a difficult spot because their states passed laws that prohibit policies that don't comply with the law. Now, the president says companies can keep offering non-compliant policies for another year if they want to.

Medicare Project May Provide Better Care Less Expensively

Fort Dodge, Iowa, is not exactly what you'd think of as a hotbed of health care innovation. But the small town in the western part of the state is part of a Medicare pilot project that economists say could be a pathway to the holy grail of health care: providing better care at a lower cost.