NPR 2009-08-19

President Obama met with Egyptian President Hosni Mubarak at the White House today to discuss the possibility of restarting Israeli-Palestinian peace talks. After their meeting, Mr. Obama expressed cautious optimism. "There has been movement in the right direction." The President said Egypt is in a unique position in the process because it has strong relationships with Israel, the Palestinians and other Arab states. Mubarak said Arab countries will support a peace process if Israelis and Palestinians return to the negotiating table.

 The Labor 1 Department reports producer prices in the US dropped last month. NPR's Elizabeth Shogren has details.

 This dip of nearly one percent in wholesale 2 prices reverses a trend from the previous few months when prices had been gradually increasing. Leading the downturn were prices for energy, especially gasoline and heating oil. Food prices were down as well, primarily due to a big drop in fresh vegetable prices. Falling prices for beef, chicken and eggs also contributed. Prices for cars and light trucks also slid. These producer prices could mean lower prices at the pump and grocery store in coming days and weeks. The Bureau of Labor Statistics also reported a record from July 08 to July 09, producer prices fell 6.8%. That's the biggest year-to-year price dip since the index was created in 1947. Prices peaked last July after a long inflationary trend. Elizabeth Shogren, NPR News, Washington.

 The world's largest home improvement retailer 3 reports a slide in profits a day after its rival reported an even steeper decline. Edgar Treiguts of Georgia Public Broadcasting reports.

 Home Depot 4 says its earnings 5 fell 7% across the fiscal 6 second quarter. Over one year's time earnings slid from 71 cents to 66 cents a share. In a statement, Home Depot CEO Frank Blake pointed 7 to continued concerns over the soft economy and its effect on the housing market pressuring consumers. But the Atlanta-based company says when adjusted for the recent closure of its Expo design stores, results beat Wall Street expectations by about eight cents a share, and Home Depot's results were better than that of rival Lowe's, which reported its profit fell 19% on weaker than expected sales. Home Depot has more than 300,000 workers and 2,200 stores across the country. For NPR News, I'm Edgar Treiguts in Atlanta.

 General Motors says it will increase production this year by 60,000 vehicles thanks in part to higher demand from the government's "Cash for Clunkers" program. The automaker says the move will bring more than 1,300 laid-off workers back to its North American assembly lines.

 On Wall Street today, the Dow gained 82 points to close at 9,217. The NASDAQ rose 25 points to close at 1,955. The S&P picked up nine.

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 Two days before Afghanistan's presidential election, insurgents 8 carried out several attacks in Kabul today. The Taliban claimed responsibility for a suicide car bombing, targeting a convoy 9 of Western troops in the capital. At least seven people were killed and dozens wounded. Earlier today, rockets struck the presidential palace and the police headquarters. Violence elsewhere in the country left two American soldiers dead from a roadside bomb.

The US embassy in Kuwait is warning Americans there to be vigilant 10 against possible terror attacks following last week's arrest of members of an Al-Qaeda linked network in the gulf 11 state. Dale Gavlak reports.

The warning message advised US citizens living in or traveling to Kuwait to register with the embassy and to maintain a high level of vigilance against possible attacks by terrorist groups. It said potential targets may include US contractors 12, particularly those working with the military. Kuwait recently arrested six Al-Qaeda linked militants 13 who were planning to attack a major US military camp and oil facilities during the Muslim fasting month of Ramadan. Ramadan is expected to start at the end of the week. There have been a number of Al-Qaeda inspired attacks in Kuwait including a raid that killed one US Marine 14 and wounded another seven years ago. For NPR News, I'm Dale Gavlak in Amman.

Star Quarterback Brett Favre is making a comeback again. The Minnesota Vikings say they've reached a deal with the three-time National Football League's MVP. The 39-year-old Favre will begin his 19th year in the NFL after starring for the Green Bay Packers and then last year ending a short retirement 15 to join the New York Jets.