Today's last word in business is: snap, crackle and crunch.
Kellogg, the name behind many boxes in the cereal aisle, will now have its name on cans of Pringles. Kellogg bought the potato chip brand from Proctor and Gamble yesterday for $2.7 billion. The company put down the big bucks for Pringles to capitalize on yet another growing consumer demand in places like China and India - a new taste for snack.
And that's the business news from MORNING EDITION on NPR News. I'm Renee Montagne.
China's Vice President Xi Jinping is hitting all the hotspots on his American tour. He's already been to Washington, D.C. and to the White House. Later today, he heads to Los Angeles. And, of course, yesterday he was in Iowa. He has a personal connection to that state, and Iowa farmers now have reason to be glad he does.
Congress appears to have avoided another showdown over the payroll tax reduction that has been pumping billions of dollars back into the economy. There may even be a deal ahead on jobless benefits and payments to Medicare doctors.
The last time Congress extended the payroll tax holiday was in December, when it passed a two-month extension tied to two other measures. One extended unemployment benefits, and the second fixed a formula by which Medicare doctors are paid. The Medicare fix would stop big cuts in reimbursements for doctors.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep. Good morning.
We're following several developments in Iran's confrontation with the west. President Obama's administration is talking of even stricter sanctions against Iran's financial system. That's part of an effort to pressure Iran to abandon its nuclear ambitions.
The Greece debt crisis has forced the country to look to the eurozone for a bailout. But Greece is looking less and less like part of Europe. In the capital Athens, they are still cleaning up from the weekend riots. Even in its tourist precincts, the area is shabby and covered with graffiti.
New York Fashion Week may be coming to a close on Thursday, but a cycle of fashion shows in cities around the world is just about to begin. Fashion editors and store buyers will descend upon London, Milan and Paris to inspect clothes that may appear in stores next fall. Sally Singer — editor-in-chief of T: The New York Times Style Magazine — is one of those tastemaking jet-setters, and she joins NPR's Renee Montagne to talk about 2012's trends.