Morning Edition

Newt Gingrich officially pulled out of the Republican presidential race Wednesday. So what happens to the leftover T-shirts and campaign buttons?

Steve Inskeep talks to Steve Coll about his new book, Private Empire: ExxonMobil and American Power. In it, Coll delves into the business model of one of the country's largest and most profitable corporations. He explores how the Exxon Valdez oil spill in 1989 shaped the culture at the company for years to come.

Earlier this week, President Barack Obama and Afghan President Hamid Karzai signed a strategic partnership agreement in the Afghan capital Kabul. The deal put a spotlight on a future Afghanistan that does not include a massive number of American and NATO troops.

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene.

Transcript

DAVID GREENE, HOST:

NPR's business news starts with control of the energy.

(SOUNDBITE OF MUSIC)

GREENE: In South America, a shift towards political populism has led to the nationalism of an oil company in Argentina and an electricity provider in Bolivia. Both of the companies seized are Spanish. The nationalizations are hitting Spain during a time of deep economic crisis. And as we'll hear in a few minutes from reporter Lauren Frayer, they sparked a lot of anger in Spain.

Bolivia and Argentina's nationalization of Spanish companies hasn't gone over well in Madrid. Spanish officials say Bolivia and Argentina will pay the price in the long run, as investors become weary of doing business if their assets could ultimately get seized.

Transcript

DAVID GREENE, HOST:

Last night at the Sotheby's auction house in New York, there was something to scream about. Our last word in business is: "The Scream."

STEVE INSKEEP, HOST:

As we reported yesterday, the Expressionist masterpiece by Edvard Munch went up for sale. There are four versions of this composition, but just one had been privately held by an heir of one of Munch's patrons.

The African-American experience is reflected, right now, on the walls of the Smithsonian American Art Museum in Washington, D.C. Exuberant dancing in Chicago. Laundry on a line in the nation's capital. A girl smiling out from her father's warm jacket — all captured in photographs, paintings and sculptures from the 1920s through the 1990s.

The airline is molding ice cubes into Richard Branson's image to promote the in-flight bar.