NPR 2011-06-16

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From NPR News in Washington, I'm Lakshmi Singh.

Stocks are down sharply partly on news of more uncertainty¹ out of Greece. Thousands of protesters gathering² in Athens today outrage³ about deep cutbacks. The Greek government says the country needs the cuts remain eligible⁴ for an internationally-backed financial rescue, signaling a looming⁵ impact on other nations. Moody's says it may downgrade the credit ratings of France's three largest banks because of their exposure to Greek debt. Hours ago, the prime minister of Greece announced he would form a new government and seek a vote of confidence.

Investors⁶ aren't too happy about data on the US economy either. The Consumer Price Index rose more than expected in May. A survey of manufacturers in the New York area found a slowdown over activity, and Bernard Baumohl, chief global economist⁷ at the Economy Outlook Group in Princeton, New Jersey⁸, says overall industrial production has been flat.

"You would expect the industrial production numbers to be a lot higher, now that we're two years into the economic recovery. But it's not. It's crawling around, and, and this is simply a reflection of an economy that has been sputtering⁹ this year, as a result of many forces that are dragging economic activity down."

The Dow was down 180 points before the close at 11,896, about 1.5%; Nasdaq down more than 1.5% at 2,631.

Ten Democratic and Republican lawmakers are suing President Obama for taking military action against Libya without war authorization¹⁰ from Congress. Democratic Congressman¹¹ Dennis Kucinich of Ohio was among the plaintiffs. Earlier, the White House said it planned to send Congress a detailed¹² response to questions about the US's military role in Libya.

Hundreds of Pakistani journalists rallied before parliament today, demanding the government investigate last month's murder of an investigative journalist. From Islamabad, NPR's Julie McCarthy has details.

"We want justice. We want justice."

Pakistan's journalists demanding justice for their colleague Syed Saleem Shahzad abducted¹³ and killed late last month. His tortured body was dumped eight miles from the capital. The case has ignited a public outcry. Carrying banners that read "Respect the Voice of Dissent," Pakistan's journalists pressed for a judicial¹⁴ inquiry¹⁵ into Shahzad's murder. Many and the news media suspect the country's intelligence agency, the ISI, in the killing¹⁶, a charge the spy agency denies. Shahzad's last report claimed that the Pakistani navy was in talks with al-Qaeda over the release of navy personnel who have been detained for their alleged¹⁷ links to the terror group thought to be behind the siege of a Karachi naval¹⁸ facility last month after the talks broke down. Julie McCarthy, NPR News, Islamabad.

From Washington, this is NPR News.

Missouri River floodwaters are rolling toward Hamburg, Iowa. The Army Corps¹⁹ of Engineers is trying to shore up a temporary levee, hoping that will be enough to save the town. Farmer Mike Nenneman says he's seen the floodwaters coming.

"You can drive upon the bluff²⁰ of both towns, look out across the bottom, which just water for miles."

If the new levee fails, the whole parts of Hamburg could be under as much as 10 feet of water.

Arizona authorities are questioning two people in connection with the so-called Wallow Fire. They're trying to determine if an abandoned campfire was the source of a blaze that had grown to at least 733 square miles and made it one of the largest fires in state history.

With Father's Day just around the corner, there's a new study that's drawing a lot of attention and finds that more than a quarter of fathers in the United States now live apart from their children. NPR's Jennifer Ludden reports that share has more than doubled in the past half century.

According to the Pew Research Center, the trend is fueled by a surge in out-of-wedlock births, and its study finds big disparities across race and social economic status. Black fathers are twice as likely as white ones who live apart from children. Forty percent of fathers who never finished high school is separately from their kids, compared to only 7% with a college degree. Pew also finds Americans overwhelmingly say having a dad at home is essential to children's happiness. For fathers who are in the same house, the study finds they're more actively²¹ involved in their children's daily life than in decades past. Jennifer Ludden, NPR News, Washington.

Before the close, the Dow was down 179 points at 11,897.

I'm Lakshmi Singh, NPR News, Washington.