The good news: Americans' personal income grew 0.4 percent in October from September, the Bureau of Economic Analysis says. It's the best gain in seven months and could mean consumers will have enough money in hand to make the critical holiday shopping season a pretty good one.
The news that Jerry Sandusky is being investigated in two more cases of alleged child sex abuse will likely mean that the former Penn State assistant football coach will be remanded to jail before a Dec. 13 preliminary hearing about the case, his lawyer says.
Good morning. I'm Linda Wertheimer, with news for Kevin Bacon. According to a new study on Facebook, six degrees of separation is too much. On the social network, people are connected by an average of 4.7 degrees. Rough translation: The Facebook data team concludes that users from the Siberian Tundra and the Peruvian rainforest are likely connected by a friend of a friend of a BFF. It's MORNING EDITION. Transcript provided by NPR, Copyright National Public Radio.
He's said he'd do something like this before and then not followed through. So keep that in mind when you hear that:
"Ali Abdullah Saleh, the president of Yemen, has arrived in Saudi Arabia to sign a Gulf power-transfer initiative brokered by the six-member Gulf Co-operation Council (GCC), the country's state television has reported." (Al-Jazeera)
Yemen's Foreign Press office has released this statement:
The Fed wants to ensure the country's largest banks are prepared to weather another recession. The move comes as the debt crisis in Europe threatens to destabilize global markets. Banks will be required to show they have enough capital to continue lending money under severe economic conditions.
The pharmaceutical company Merck has agreed to pay nearly a billion dollars to settle charges that it illegally marketed its painkiller, Vioxx. The drug was taken off the market in 2004 after questions were raised about its safety. NPR's Jim Zarroli reports.
Our last word in business is: Don't jack up the Jack. The makers of Jack Daniels are raising their glasses after a tax proposal was voted down this week in Lynchburg, Tennessee.
STEVE INSKEEP, HOST:
The proposal called for a referendum on a plan to tax Jack Daniels whiskey by the barrel to bring it up to $5 million annually. The drive by some residents was killed after a 10 to five vote by the Moore County Council. The company that owns the distillery currently pays one-and-a-half million dollars in local property taxes.