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We're expecting soon to learn Supreme Court decisions on two gigantic cases. One case involves the Arizona immigration law. The federal government has challenged that law as an intrusion into federal authority.

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Justices are also deciding the constitutionality of President Obama's health care law. The main challenge is to the individual mandate, which after 2014 would require most people to get health insurance or pay a fine.

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It's MORNING EDITION from NPR News. And I want to let you know that reporters at the Supreme Court are reading and listening to a decision this morning, on Arizona's immigration law. The Court has thrown our parts of the law, but retained the show your papers provision that allows police to stop and frisk suspected illegal immigrants. We'll bring you more as we learn it.

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NPR's business news starts with good times for bank chiefs.

While the financial world keeps grappling with losses, the industry's leaders have raked in annual pay raises averaging nearly 12 percent. The Financial Times found JPMorgan Chase's CEO Jamie Dimon was among the top earners, with a pay package of more than $23 million last year, an 11 percent increase over the previous year. Transcript provided by NPR, Copyright National Public Radio.

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And today's last word in business takes a look at what happens when devices make a big hit in the water.

A couple of years ago, I jumped in a pool with my daughter, and we were in that pool quite some time before I realized that my phone had come with me - my late phone.

When Moody's downgraded the credit ratings of most major U.S. banks on Thursday, you'd have thought Friday would be a tough day for bank stocks.

But bank stocks ticked up — largely because investors were relieved. They had feared the downgrades would be worse. The Dow Jones industrial average was recovering from Thursday's 250-point drop, the second-worst of the year.

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NPR's business news starts with a budget deal in California.

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INSKEEP: This deal comes just days before the start of the new fiscal year. It cuts social programs and it would knock three weeks off of Californian's school year unless voters approve a proposal for new taxes.

Capital Public Radio's Ben Adler reports from Sacramento.

BEN ADLER, BYLINE: The Democrats running this year's California budget process say they have one overarching goal: to bring years of festering shortfalls to an end.

Product safety regulators announced the recall Thursday after hundreds of people reported explosions in their toilet tanks. The faulty flushing system is made by the brand Flushmate — specifically the Flushmate Three Pressure-Assist Flushing System. It's used by several toilet manufacturers including American Standard and Crane.

Fifteen major banks were downgraded Thursday in a reflection of the slowing global economy and volatility in financial markets. In a sweeping move, Moody's cut the credit ratings of some of the world's largest financial institutions, including Bank of America, Goldman Sachs and Citigroup.

When it comes to health care, even the seemingly easy things become hard.

Take coverage for young adults under the Affordable Care Act.

Grandma's can of matzo ball soup and jar of gefilte fish have never seen such love.

The massive farm bill cleared the Senate on Thursday, setting up negotiations with the House over changes in a number of programs, including crop insurance and food stamps.