NPR's business news begins with a meaty Chinese investment in the U.S.
A Chinese meat producer plans to buy the U.S. meat company Smithfield for $4.7 billion dollars. Smithfield is the world's largest pork producers, and by some estimates, if this deal is approved by regulators, it would be the biggest takeover of a U.S. company by a Chinese company.
The makers of Smithfield Ham, an icon on America's culinary scene for decades, are selling the publicly traded company to China's Shuanghui International Holdings Limited for about $4.72 billion in cash. The deal also includes an exchange of debt.
The purchase values Smithfield Foods at $7.1 billion — a figure that would make the purchase "the largest Chinese takeover of a U.S. company," according to Bloomberg News.
Good morning, I'm Renee Montagne with a follow-up on the record for oldest person to scale Mount Everest. An 81-year-old Nepalese climber earned the title five years ago when he was 76. Last week, an 80-year-old Japanese climber took the crown. Now Min Bahadur Sherchan has given up his attempt to snatch it back but bad weather, due to the season, forced him to turn back. Disappointing. Still, it wasn't age that proved the ultimate barrier.
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"A record 40 percent of all households with children under the age of 18 include mothers who are either the sole or primary source of income for the family," the Pew Research Center reported Wednesday as it released data that certainly won't surprise many Americans but will underscore some dramatic shifts over recent decades.
Rep. Michele Bachmann, a hero to many conservatives and tea party advocates who saw her fortunes rise and fall quickly in the 2012 race for the GOP presidential nomination, announced early Wednesday that she will not seek re-election to a fifth term in Congress.