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.
MONTAGNE: That's the indicator Fed Chief Ben Bernanke wants to see. Bernanke told a conference of economists last night that despite data pointing to a recovery, many people still feel stressed. He said the economic well-being of Americans is the Fed's ultimate objective - that is, the sense that things are going well.
Now, as we cover the Olympics, some of you have asked for spoiler alerts, but for this next report that is probably not necessary. NPR's Mike Pesca is taking us inside the world of India's men's field hockey team. We're not too worried about spoilers. Not just because most Americans don't care much about field hockey, but because the Indian squad has done a pretty good job itself of spoiling things. As Mike reports, the team's record tracks with the overall state of the Indian Olympic effort.
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.