NPR's business news begins with credit card debt rising.
(SOUNDBITE OF MUSIC)
MONTAGNE: Americans are running up more debt on their credit cards, and that could be a good sign. The average American had almost $5,000 of credit card debt in the third quarter of 2012, up almost 5 percent over the previous quarter.
And in Austin, Texas, after a five-year absence, Formula One racing returned to the U.S. A Formula One track called the Circuit of the Americas, was inaugurated over the weekend in a race won by Lewis Hamilton. Formula One is immensely popular in Europe and much of the world, but it's failed to win a big audience in the U.S., dwarfed by the homegrown culture of NASCAR and the Indy circuit.
Hostess Brands today begins the process of selling off its assets in a bankruptcy court in New York. That process has struck fear in the hearts of lovers of the sugary-sweet Hostess products, like Twinkies, Ding Dongs and Ho Hos. Sensing a Twinkie panic and a possible shortage, over the weekend some entrepreneurs took to eBay, offering up many Hostess brands at some very exorbitant prices.
President Obama paid a historic visit to Myanmar today. The southeast Asian country, also known as Burma, is tiptoeing towards democracy after almost 50 years in military rule. Mr. Obama met with the former leader who is now the president of Burma and with opposition leader Aung San Suu Kyi, who is not a member of parliament after years of house arrest. The visit is the centerpiece of the president's three-day Asian tour, which is meant to underscore the United States' growing involvement in the region.