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Business News: Student loan rates may double

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(CBS) - In Business News, if Congress doesn't act soon the interest rate charged on some student loans will double on July 1st from 3.4 percent to 6.8 percent.


Congress is grappling with student loans for the second straight year.

About 7 million undergrads borrow for college using the subsidized loans. 


(CBS) - More companies are severing ties with embattled celebrity chef Paula Deen.

Walmart is the latest to end its relationship with 66 year old Deen after she admitted in a legal deposition to using racial slurs in the past.

 

Deen's name is also being stripped from four restaurants owned by Ceasars.

Earlier this week Food Network said it would not renew Paula Deen's contract. Pork producerB Smithfield, dropped her as a spokesperson.



(CBS) - Renewable energy is growing fast around the world.

The international energy agency says developing countries are building more wind, solar and hydro-electric power plants.

The agency predicts that in five years, renewable energy will be the second biggest source of electricity after coal. 
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