Capping more than a week of public mourning, North Korea staged a dramatic state funeral for its late leader, Kim Jong Il. Leading the ceremonies was Kim's third son and apparent successor, Kim Jong Un.
North Korean media reports portray the younger Kim, who is reportedly in his late 20s, in full control of the impoverished, nuclear-armed country. But while consolidating his political power may be easy, establishing his legitimacy will be tougher.
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In New England, fishermen are bracing for what may be unprecedented restrictions, or even a shutdown, of cod fishing in the Gulf of Maine. Federal regulators say new data show cod as dangerously overfished. But fishermen say they don't believe that, and say drastic restrictions would be catastrophic. NPR's Tovia Smith reports.
Wendy's is reentering the world's second largest fast food market, Japan. The burger chain left Japan in 2009 in a dispute with its local business partner. Now it's coming back in style. Our last word in business today is fancy fast food.
Instead of a basic burger, Wendy's wants to appeal to Japan's more finicky fast food eaters with a new, luxurious menu, featuring a truffle and forchini-grilled chicken sandwich and a foie gras burger, goose liver pate on top of the beef patty.
Republican presidential hopeful Newt Gingrich continues his bus tour of Iowa. After leading in the polls, he's had setbacks in recent days. Negative campaign ads by his opponents have hurt him with some voters. And on Tuesday, the former House speaker found his message side tracked by new disclosures involving the divorce from his first wife.
NPR's business news starts with Iran shaking the oil markets.
Oil prices are higher this morning after a top Iranian official threatened to block a considerable part of the world's oil supply, if new economic sanctions are imposed on his country. The official spoke of blocking oil tankers from moving through the Straits of Hormuz; that's the opening from the Persian Gulf, a major transit route for a number of nations, and it goes right past the Iranian shore.
Originally published on Wed December 28, 2011 12:20 pm
GOP presidential candidates are touring Iowa ahead of next week's caucuses. The main issue for many voters there is the economy, but another hot topic is emerging: overhauling immigration policies. Iowa's Hispanic population is surging, and Republican candidates are struggling with how best to deal with voter concerns.
<strong>Reason To Smile:</strong> Samuel Palmisano, president and CEO of IBM, walks by an IBM logo at the CeBIT technology fair in Hanover, Germany. Palmisano is set to step down later this month, and Virginia Rometty will take over on Jan. 1.
Far from a relic, IBM has been one of the best stocks on the Dow this year, rising more than perennial tech hotshots Google and Apple. The company may be 100, but it has totally remade its business for the 21st century.
The company sold its PC business 6 years ago, and now, more than 83 percent of its business is services and software. Sign a contract with Big Blue and you get consulting, cloud computing, servers, analytics, even financing.
"There is no such thing as an IBM PC," says IBM managing partner Adam Klaber.
2011 has been a momentous year in the 30-year-old AIDS pandemic.
The big breakthrough was the discovery that antiviral drugs can prevent someone who's infected with HIV from passing the virus to others. It's nearly 100 percent effective. That led President Obama to declare earlier this month that the U.S. will expand HIV treatment in hard-hit countries by 50 percent.