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A British bank has agreed to settle charges that it illegally laundered Iranian money. The settlement with Standard Chartered was announced by New York banking regulators, who'd brought the charges just a week ago. The bank still is under investigation by the federal government. NPR's Jim Zarroli has more.

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A new movie in theaters today is titled "The Odd Life of Timothy Green." And film critic, Kenneth Turan, found the movie, itself, odd.

KENNETH TURAN: "The Odd Life of Timothy Green" is a when you wish upon a star fable in the old school Disney style. It's just the kind of inspirational family-friendly comfort food it feels churlish to rebuff. But though the film's heart is pure, its execution is so cloying and contrived it brings on tears of frustration.

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NPR's business news starts with the top man at The Times.

(SOUNDBITE OF MUSIC)

MONTAGNE: The New York Times has named its new president and CEO. The man who got the job is Mark Thompson, a former BBC executive. Thompson will face a different business model from the non-profit British broadcaster. The paper is run by a board that's largely elected by a family trust.

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Home Depot says, from its vantage point, there seems to be a turnaround in the housing market. The nation's largest home-improvement chain reported a 12 percent increase in second-quarter earnings.

Joshua Stewart from Georgia Public Broadcasting has the details.

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It's MORNING EDITION, from NPR News. I'm Renee Montagne.

DAVID GREENE, HOST:

And I'm David Greene. Good morning.

Well, it is VP against VP-hopeful. Vice President Joe Biden is touring Virginia, a key presidential swing state. And yesterday, Biden seized on Mitt Romney's choice of Congressman Paul Ryan as a running mate, saying it shows what the Republican ticket really stands for. In a moment, Ryan's day on the campaign trail.

First to NPR's Larry Abramson, who's traveling with Vice President Biden.