NPR's business news starts with markets rather optimistic.
Stock market averages in Asia closed higher today for the third day in a row. There's apparently a feeling that the U.S. and Europe are poised to make moves that will help the global economy. Investors are betting that the Federal Reserve will launch new stimulus action. And they're also betting that some decisive action will be taken soon to reign in the fiscal crisis in Europe.
The latest clash between President Obama and Mitt Romney is over an issue dating to the 1990s - Bill Clinton's welfare overhaul. That law has a work requirement which is supposed to help move people off welfare and into jobs. Mitt Romney is now accusing the Obama White House of undermining the law, which the Obama administration calls an outright lie. We asked NPR's Ari Shapiro to do some truth squadding.
ARI SHAPIRO, BYLINE: First the accusation. The Romney campaign's new TV ad says Barack Obama has gutted the welfare laws.
I always like it when Olympic champions from one sport go to another competition, so I was particularly touched to see Kobe Bryant, with his children in tow, watching as the magnificent Michael Phelps bid adieu to his sport by winning yet one last gold.
Phelps and Bryant are connected these days, too, because both have prompted some historical conversation. Kobe boasted that his current U.S. basketball squad could beat the sainted Dream Team of '92, while Phelps, simply by piling up more medals, opened up the barroom debate about who might be the greatest Olympian ever.
Larry McMurtry is perhaps best known for novels like The Last Picture Show, Terms of Endearment and Lonesome Dove; but the author also has a career as a bookseller.
His store, Booked Up, spills across four buildings in his small hometown of Archer City, Texas, and houses nearly half a million rare and used books. But starting this Friday, McMurtry is holding an auction to whittle down that number — by a lot.