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Spain's borrowing costs hit record highs this week and European stock markets have slumped over fears Madrid can't afford the price tag required to prop up its ailing banks. It's looking ever more likely the country will need some kind of bailout.

After watching Greece from afar for years, many Spaniards now believe Spain's number is up.

A tourist in Madrid might wonder where the crisis is. Traffic is heavy and the tapas bars are packed.

But listen in on some of the conversations, and it's clear that Spaniards are scared.

The school year's winding down, meaning teenagers around the country will soon be trying to pull in some extra cash scooping ice cream or manning those kiosks at the mall.

But with the job market still weak, teens are facing stiff competition landing summer jobs. And while the downturn has hit young job seekers particularly hard, it's not just the lingering effects of the Great Recession working against them: the drop-off in teen summer hiring actually began long before 2007.

Wal-Mart has joined the list of major corporations withdrawing their support from a conservative political group that advocates the "Stand Your Ground" laws that came under intense focus after the Trayvon Martin killing became a national story.

When New York Mayor Michael Bloomberg announced last night he wants to ban sodas and many other sugary drinks in 16 ounce servings sizes and up, the reaction was swift and predictable.

Transcript

DAVID GREENE, HOST:

NPR's business news starts with starts with some discouraging numbers.

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