Financial regulators in New York said yesterday they may bar a British bank from doing business in the state. They said that because the bank allegedly laundered some $250 billion in Iranian money through its branch in Manhattan. The bank is Standard Chartered Bank. It does much of its business in Asia, Africa and the Middle East. But like any global bank, it wants to have a foothold in the U.S. markets, and that foothold is now in danger. For more, we turn to NPR's Jim Zarroli in New York.
Best Buy's founder and former chairman is not happy about the way things are going. That's why Richard Schulze said, yesterday, he wants to buy back the shares he does not already own and take the electronics retailer private. Schulze said he decided to publicly announce this offer because the board was taking too much time with it - could be worth nearly $9 billion in cash.
But as NPR's Yuki Noguchi reports, the deal is being met with some skepticism.
And today's last word in business is a deal with some strings attached. You have no idea yet what a terrible pun that is. The final notes have been played in a criminal case federal prosecutors brought against Gibson Guitar Corporation.
The Justice Department is dropping its charges against the guitar maker for illegally buying and importing exotic wood - specifically, ebony from Madagascar and rosewood and ebony from India. The company will pay a penalty of $300,000 and give another $50,000 for conservation efforts.
On a Tuesday in August, it's MORNING EDITION from NPR News. I'm Steve Inskeep.
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And I'm Renee Montagne.
I am nothing but an American. Those are some of the words we are about to hear from Americans Sikhs after a shooting over the weekend. A gunman targeted a Sikh temple in Wisconsin, killing six people before police killed him. In a moment, we'll learn more about the man identified as the shooter.
We begin with Chuck Quirmbach of Wisconsin Public Radio.