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.
In Arizona, the man accused of shooting Gabrielle Giffords at a gathering of her constituents in Tucson last year will be in court today. Jared Loughner allegedly killed six people in that attack and wounded 13 others. He was declared mentally unfit to stand trial, but now that may change. As NPR's Ted Robbins reports, Loughner's lawyers are expected to offer a deal to help him avoid the death penalty.
Among the Tea Party successes in the 2010 congressional elections was U.S. Sen. Marco Rubio of Florida. He is now one of those on Republican presidential candidate Mitt Romney's short list of possible running mates.
For any political party, Rubio would be worthy of consideration for vice president or a higher office. He's smart, good-looking and charismatic. The Cuban-American is a plus for Republicans, a party that polls show has been losing ground with Hispanics.
It may take some time to pinpoint the exact cause of India's massive blackouts last week, but the underlying issue for India and many other parts of the developing world is that supply is struggling to keep up with the growing demand for power — an imbalance that can affect the reliability of electric grids.
In India last week, surprise grid failures plunged more than half the country into darkness. But power outages in neighboring Pakistan have been intentional — the result of summertime energy rationing.
Despite billions of dollars in U.S. aid, Pakistan has been unable to keep the lights on. Now the situation is getting worse, with riots erupting over factories forced offline.
The 2010 elections were a coming of age for the Tea Party, with big gains in Congress and in statehouses. As 2012 approached, the movement was looking for similar success. Then came this year's GOP presidential primaries, with no surviving Tea Party favorite.
Polls showed public support for the movement falling off significantly after several nasty showdowns in Congress. But the Tea Party remains a force in many states. Its favored candidate for the U.S. Senate won big in Texas last week, sending the strongest signal yet that the movement will be a factor this fall.
We are covering other news today, including news out of Syria, where there have been some high-level defections. The prime minister of Syria fled to neighboring Jordan just two months after he was appointed. He says he has joined the opposition. Syrian rebels say that three other cabinet members also defected. These are the highest level departures from the government of Bashar al-Assad since the uprising began well over a year ago.