Our deal puts jobs and economic growth, first by rolling back sequestration’s harmful cuts to education and medical research and infrastructure investments and defense jobs for the next two years. 

 

One of the issues in the proposed reductions in federal workers retirement benefits will help pay for slightly higher government spending on programs, including military programs. Republican Paul Ryan says he is confident the deal will be approved.

 

I expect we are going to have a healthy vote in the House Republican Caucus. I think we will pass this to the House.

 

In a statement, President Obama praised the agreement, calling on lawmakers from both parties to move to approve it. 

 

U.S. Bank and financial market regulators voted today to approve the Volcker Rule, it’s one of the toughest measures produced by the Dodd-Frank financial reforms. As NPR’s John Ydstie explains the rule largely bans commercial banks backed from trading financial securities for their own profits. 

 

The bank strongly opposed the Volcker Rule, because trading for their own gain or proprietary trading has been very lucrative. But former Federal Reserver Chairman Paul Volcker who first conceived the rule, warned the practice was too risky and pose dangers to financial stability and tax payers. After all, five regulators including the Federal Reserve and Securities and Exchange Commission approved the rule. Volcker issued a statement saying it should help the process of restoring trust and confidence in commercial bank institutions. Banks can continue to buy and sell securities to hedge risk and serve clients. But the rules forces\ to prove the trades are not simply speculative bets. Banks have until July 2015 to fully comply. John Ydstie, NPR News, Washington.

 

Defense Secretary Chuck Hagel today wraps up a week-long trip to the Middle East and Southwest Asia. As NPR’s Larry Ambrason reports from Doha, Hagel has been trying to reassure allies about the U.S. military commitment to both Middle East and Southwest Asia.  

 

Hagel finishes his trip by meeting with leaders of Saudi Arabia and Qatar. Both countries are concerned about U.S. talks with Iran. The U.S. has agreed to reduce economic sanctions in exchange for a freeze on Iran’s nuclear program. Both countries feared that this deal could undermine the U.S. commitment to defend Arab countries in Arabian gulf. Hagel has tried to ease those fears by emphasising the U.S. determination to keep Iran from developing the nuclear bomb. At the same time, Hagel offered to help Gulf nations improve their missile defense systems to clear reference to the threat on the Iranian missile strike. Larry Ambrason, NPR News.

 

US employers are putting up the help wanted sign more frequently in October, the Labor Department says job openings were up 1%.

 

On Wall Street, the Dow closed down 52 points today; the S&P 500 lost five points.

 

This is NPR.

 

Eight officials in central African Republic say the death toll there has now risen to more than 500 people with no end insight to the sectarian violence that broke out last week. An official with the Red Cross says aid workers have been collecting bodies after fighting broke out between Christian fighters and Muslims. Much of the fighting has been in the capital city of Bangi. Though there has been fighting elsewhere as well.

 

A new report finds most Americans are unprepared for retirement. But the situation is even worse for those colour. NPR’s Ina Jaffe reports that’s because fewer black Latino and Asian American workers have employers who offer retirement plans. 

 

More than 60% of whites have retirement plans to their jobs, but just over half of black and Asian American workers do, while fewer than 40% of Latinos have job sponsored retirement plans. This is according to the study from the National Institute on Retirement Security. The study found that around 2/3 of black Latinos households have no money in a retirement account of any kind among older workers near retirement, households headed by people of colour average just $30,000 in savings compared to White House that average around four times as much. Ina Jaffe, NPR News.

 

Nevada officials now say they found two adults and four children missing in the mountains there since Sunday. According to officials of the Pershing county sheriff's department, the two adults and children were taken to hospital after being found today. All apparently in good condition. Groups began searching after they went missing Sunday night. Thirty-four-year-old James Glanton, his 25-year-old girlfriend Christina Mclntee and the children ranging in ages from 10 to 3 years old, had apparently gone out to play in the snow but failed to return home. 

 

I’m Jack Speer, NPR News, in Washington.