TV Broadcasters Really Hate Tiny Antennas, & 6 More Things to Know Today
Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.
• A group of major TV broadcasters is expected to take its lawsuit against online TV service Aereo to the Supreme Court, sources say. Aereo deploys vast arrays of tiny antennas to receive all the over-the-air broadcast TV stations available in your area, then lets its customers stream those shows online for about $12 a month. Whenever you're watching, you're assigned your very own micro-antenna. Because of its clever technical end-run, the courts have thus far ruled that Aereo isn't breaking the law -- it's just helping people do what they're already allowed to do: Watch free broadcast TV. CBS, Comcast, Disney, and News Corp., among others, really hope the high court disagrees.
• The market spiked upward by about 2.2 percent Thursday, and kept rising a bit more cautiously in after-hours trading, thanks to optimism that Congress may add six weeks worth of fiscal breathing room to the debt ceiling.
• But this is Washington: and there are no guarantees. If Congress fails to act, the U.S. government won't be able to pay its debts -- and there are a lot of them. NPR breaks it down -- everyone Uncle Sam owes money to, in one graphic.
%VIRTUAL-article-sponsoredlinks%• There's a price to be paid for living in the Great White North ... literally. Back in the 1990s and the early 2000s, Canadian dollars were generally worth a lot less than U.S. greenbacks. These days, the loonie is worth just four cents less than the dollar, but shoppers in Canada still pay about 10 percent more for the same goods than we do in the United States. And in some categories, the premium is a lot higher.
• Nobody gets a Social Security "check" anymore: Instead, payments from the agency are either direct deposited into your bank account, or are placed in a debit card. But what happens if criminals hack your debit card and steal your money? You could have a long wait for help.
• The vast and growing wealth inequality we're experiencing in the United States isn't inevitable. Other nations have taken steps to stem the problem within their borders -- steps the U.S. isn't taking. The L.A. Times explains why the wealth gap is an even bigger danger than you might think.
• And finally, a little bit of sweet news. Hershey is launching its first new candy in 30 years: Lancaster caramels. The soft candy will hit stores in January and come in three flavors: plain caramel, vanilla and caramel, and vanilla and raspberry.