Britain is a nation in shock, following yesterday's announcement that its economy has slipped back into recession. The bad news is raising new questions about the government's unpopular austerity measures.
Vicki Barker has more from London.
VICKI BARKER, BYLINE: The news that Britain's economy has fallen into the dreaded double-dip recession caught everyone off guard - including Prime Minister David Cameron, who was immediately hit by a wave of criticism from parliament.
NPR's business news starts with a cage-free promise.
Burger King announced yesterday, that by 2017, all of its eggs and pork will come from animals not penned-up in cages and crates. Burger King is the first major U.S. fast food chain to put a firm deadline on such a promise. The move is seen as part of an industry-wide shift to consider animal concerns.
One food industry analyst says it proves quote, "that consumers are willing to pay a little bit more for fairness."
In the southern Chinese city of Guangzhou, thousands of African immigrants, many of them small-scale clothing traders from Nigeria, have come seeking business opportunities. One of the Nigerian traders, who goes by his "designer name" of Niceguy, is shown here in the city's Little Africa neighborhood.
Credit Nina Porzucki for NPR
The Little Africa neighborhood in Guangzhou is dominated by African immigrants who run the shops and stalls, but many customers are Chinese.
Credit Nina Porzucki for NPR
A trader who goes by the name Fortunato — he says it's his "designer name" — stands outside one of the clothing shops in the Little Africa section of Guangzhou. He's been living in the Chinese city for five years.
China and Africa have become major trading partners in recent years. Chinese companies have made a big push into Africa seeking raw materials like oil. And enterprising Africans now travel to China to buy cheap goods at the source and ship them home. Today, the city of Guangzhou, near Hong Kong, is home to some 10,000 Africans, the largest such community in China. The city's Little Africa neighborhood is a world unto itself, with restaurants specializing in African food to money changers who deal in the Nigerian currency.
A sign stands in front of a bank-owned home in Las Vegas. Housing counselors say the $25 billion mortgage settlement between major banks and the states has yet to make an impact in communities around the U.S.
Earlier this month, a judge approved a settlement between five major banks and nearly all of the state attorneys general. The banks admitted to taking shortcuts — or "robo-signing" documents — as they pushed through some foreclosures.
Most of the $25 billion settlement is supposed to go toward reducing mortgage payments for some troubled homeowners. But lots of other programs have promised to help struggling homeowners in the past, and results have been disappointing.