Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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Asia
1:37 am
Thu April 24, 2014

After Bangladesh Factory Disaster, Efforts Show Mixed Progress

Garment workers and relatives of Rana Plaza victims stage a demonstration on the outskirts of Dhaka, Bangladesh, Dec. 24.
Shariful Islam Xinhua/Landov

Originally published on Thu April 24, 2014 5:30 am

One year ago Thursday, an eight-story factory building in the Bangladesh capital of Dhaka collapsed, killing more than 1,100 workers. The disaster at Rana Plaza brought new attention to safety conditions in the country's booming garment industry.

In the year since then, some of the world's biggest retailers have begun inspecting Bangladesh's factories more aggressively. But in other ways efforts to reform the industry have fallen short.

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Business
2:21 pm
Wed April 23, 2014

Blockbuster Trades Are Changing The Face Of Pharmaceuticals

Originally published on Wed April 23, 2014 9:06 pm

Transcript

MELISSA BLOCK, HOST:

The pharmaceutical industry is undergoing some sweeping changes so the past few days, some major deals have been announced. The first involving a trio of big named companies: GlaxoSmithKline, Novartis and Ely Lily. The second is a proposed deal between Quebec-based Valeant Pharmaceuticals and California's Allergan, the maker of Botox. That deal is valued at $45 billion. NPR's Jim Zarroli reports.

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Business
4:23 am
Fri April 18, 2014

IPO Market Shows Signs Of Strain

Originally published on Fri April 18, 2014 9:10 am

Transcript

DAVID GREENE, HOST:

All right, Virtu Financial has reportedly decided to postpone its initial public offering. The decision comes during a week when several IPOs in U.S. markets had disappointing debuts. Virtu conducts high-frequency electronic trading on various exchanges and scrutiny of high-speed trading is growing.

NPR's Jim Zarroli reports.

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Economy
3:29 pm
Tue April 15, 2014

Sending Money On An Overseas Round Trip To Avoid Taxes

Round-tripping occurs when American citizens open bank accounts in tax havens such as the Cayman Islands, funnel money into the accounts and then use it to buy stocks and bonds back in the U.S.
David McFadden AP

Originally published on Tue April 15, 2014 4:03 pm

Some investors avoid paying taxes in a move called round-tripping — sending money offshore, then investing it in U.S. stocks or bonds. A study estimates it costs the U.S. billions in lost revenues.

Recently, MIT professor Michelle Hanlon and two colleagues set out to find out all they could about round-tripping.

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News
2:45 pm
Wed April 9, 2014

With Proposed Mega-Merger On The Hill, Spotlight's On Consumers

Originally published on Wed April 9, 2014 4:48 pm

Comcast and Time Warner executives ran into stiff opposition as they pitched their proposed merger to the Senate Judiciary Committee. The deal would give the combined company a large share of both pay TV and broadband internet service markets. In both cases, lawmakers wanted to know how consumers would be affected.

Law
2:14 pm
Tue April 8, 2014

New Rules Force Big Banks To Keep A Bigger Cushion

Originally published on Wed April 9, 2014 3:24 am

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

Five and a half years after the financial crisis that devastated the global economy, U.S. officials are taking steps to strengthen the nation's banking system. Today, the Federal Reserve and the Federal Deposit Insurance Corporation approved tough new rules that require banks to hold a lot more capital on their books. Regulators say the requirements will reduce the risk of bank failures during bad economic times.

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Economy
2:45 pm
Mon April 7, 2014

How A Regulation Helped Ease Way For Stock Market's 'Flash Boys'

Originally published on Mon April 7, 2014 5:29 pm

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish. In recent years, high speed computers have drastically altered the way the stock market operates. What's called high frequency trading has been getting renewed attention thanks to "Flash Boys," the latest book from Michael Lewis. In that book, he argues the changes have created a lot of new problems.

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Business
3:53 pm
Wed April 2, 2014

Traders Defend High-Speed Systems Against Charges Of Rigging

"The stock market is rigged," says Michael Lewis, and high-frequency traders are to blame. But defenders of high-speed trading say it plays a legitimate role.
Paul Giamou iStockphoto

Originally published on Wed April 2, 2014 7:54 pm

The FBI and the Securities and Exchange Commission revealed this week that they're both investigating the world of high-frequency stock trading. They did so at a time when a new book on the subject, Flash Boys by Michael Lewis, is causing an uproar on Wall Street.

To read Lewis' book is to be reminded of how drastically the stock market has changed in a decade — and how opaque it remains. Lewis says this opacity serves to cover up some disturbing developments.

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News
2:25 pm
Tue April 1, 2014

American-Made, Haven-Kept? Congress Looks At Caterpillar's Tax Returns

Originally published on Tue April 1, 2014 5:58 pm

Caterpillar executives are on Capitol Hill answering questions about the company's tax returns. Caterpillar is accused of shifting money abroad to avoid billions in taxes. Company officials say Caterpillar has followed the law.

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Transcript

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Business
3:10 pm
Fri March 28, 2014

Russia's Energy Market Heft Leaves Neighbors Unsettled

Originally published on Fri March 28, 2014 4:34 pm

Transcript

AUDIE CORNISH, HOST:

The crisis in Ukraine is raising new questions about Russia's role in the energy markets. Moscow has long used exports of oil and natural gas to win political concessions from countries on its borders. Europe gets a quarter of its natural gas from Russia.

As NPR's Jim Zarroli reports, that's making a lot of people there nervous.

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Business
3:06 am
Tue March 25, 2014

Jury Convicts 5 Ex-Madoff Employees Of Securities Fraud

Originally published on Tue March 25, 2014 5:33 am

A federal court jury in New York found 5 of Bernard Madoff's former employees guilty of fraud. They were accused of enriching themselves by helping the imprisoned financier carry out a Ponzi scheme.

News
2:33 pm
Mon March 24, 2014

Madoff Aides Found Guilty For Role In Massive Ponzi Scheme

Originally published on Mon March 24, 2014 4:46 pm

Five of Bernie Madoff's former employees were found guilty of helping him fleece investors of $17 billion. They were convicted on charges of securities fraud, conspiracy and tax evasion.

Business
3:01 am
Mon March 17, 2014

Chinese Tech Giant Alibaba Plans To Launch IPO In U.S.

Originally published on Mon March 17, 2014 9:59 am

Transcript

RENEE MONTAGNE, HOST:

And the Chinese Internet giant Alibaba says it plans to launch an initial public offering in the United States. Alibaba is known as the Chinese Google. and the IPO could be one of the biggest offerings in the history of the technology sector.

As NPR's Jim Zarroli reports, buying shares in the company brings some risk.

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Business
2:21 pm
Thu March 13, 2014

Employers React To New Overtime Expansion

Originally published on Thu March 13, 2014 4:35 pm

President Obama is directing his Labor Secretary to tighten U.S. overtime laws. Under the changes, millions of workers will become eligible. Business groups are now reacting to the news.

Business
3:23 am
Thu March 13, 2014

FTC Launches Civil Probe Into Herbalife

Originally published on Thu March 13, 2014 5:44 am

The nutrition supplement company has been under attack by billionaire investor William Ackman, who's been pressing regulators to look into the way Herbalife operates.

News
2:21 pm
Wed March 12, 2014

FTC Investigates Herbalife, Following Claims It's A Pyramid Scheme

Originally published on Wed March 12, 2014 6:14 pm

Herbalife shares dropped on news the Federal Trade Commission is investigating the company. After shorting Herbalife's stock, hedge fund manager Bill Ackman's been lobbying politicians to investigate.

Economy
2:56 am
Fri March 7, 2014

Ukraine's Economy Was In Trouble Before Its Crisis With Russia

Originally published on Fri March 7, 2014 9:39 am

Transcript

DAVID GREENE, HOST:

On a Friday, this is MORNING EDITION, from NPR News. I'm David Greene.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

President Obama and Russian President Putin have had another long telephone conversation about how to end the crisis in Ukraine. The White House says President Obama stressed that a diplomatic solution is possible, but Russian soldiers have to leave their current positions in Crimea and return to their base in the region.

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Europe
2:37 pm
Tue March 4, 2014

Deep Ties Between Russia And The West Make Sanctions Risky

Originally published on Tue March 4, 2014 4:31 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

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Business
2:35 pm
Wed February 26, 2014

Swiss Bank Finds Itself Under American Scrutiny

Originally published on Thu February 27, 2014 10:08 am

Transcript

MELISSA BLOCK, HOST:

Top executives at one of Switzerland's biggest banks said today they're sincerely trying to prevent tax evasion by U.S. citizens. They also said conflicting laws in the two countries make it almost impossible to do that. The chief executive of Credit Suisse appeared before the Senate Permanent Subcommittee on Investigations, which has been looking into the use of secret Swiss bank accounts by Americans.

Here's NPR's Jim Zarroli.

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Business
4:39 am
Wed February 26, 2014

Senate Report: Credit Suisse Bank Helped Americans Evade Taxes

Originally published on Wed February 26, 2014 12:20 pm

Transcript

RENEE MONTAGNE, HOST:

Top officials of the Swiss bank, Credit Suisse, told a Senate hearing today that they're committed to unearthing tax evasion by U.S. citizens. The Permanent Subcommittee on Investigations released a report yesterday, that the bank was deeply involved in helping Americans hide their money in secret accounts.

NPR's Jim Zarroli reports.

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Business
2:20 pm
Mon February 24, 2014

Netflix Pays Comcast To Ensure Its Videos Stream Smoothly

Originally published on Mon February 24, 2014 6:02 pm

Transcript

ROBERT SIEGEL, HOST:

Netflix is hoping that a deal it has struck with Comcast will mollify some of its unhappy customers. The company announced yesterday that it will pay to connect Comcast's broadband network more directly. That means Netflix customers should get faster, smoother access to programs like "House of Cards." The deal could serve as a model to help the company resolve disputes with other big Internet service providers.

NPR's Jim Zarroli reports.

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Business
4:24 am
Mon February 24, 2014

Netflix, Comcast Reach Streaming Agreement

Originally published on Mon February 24, 2014 5:34 am

Under the deal, Netflix will pay Comcast a fee to ensure its movies and TV shows stream smoothly. Consumers complain they encounter buffering and slowdowns when they try to access Netflix shows.

All Tech Considered
4:46 pm
Thu February 20, 2014

Video Streaming Is Straining, But Who Will Ease The Tension?

Internet service providers are having trouble keeping pace with growing demand for video streaming services. But there's disagreement over how to fix the problem.
iStockphoto

Originally published on Fri February 21, 2014 12:16 pm

Suzie Felber's kids are only just learning what a commercial is.

"They start screaming when they come on," she says. "They think the TV's broken."

The Felbers usually stream television shows over the Internet in their New Jersey home.

More and more people are following suit, using services such as Netflix and Amazon Prime. But these programs take up a huge amount of digital bandwidth, and that's led to a dispute between these services and the Internet service providers that carry them.

Slower Service

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Business
3:16 am
Thu February 6, 2014

Regulators Examine Allegations Of Currency Manipulation

Originally published on Thu February 6, 2014 5:59 am

Transcript

DAVID GREENE, HOST:

New York State regulators are looking into allegations of currency manipulation by traders at more than a dozen big banks. This effort is part of a global investigation into foreign exchange practices that's already cost several traders their jobs.

RENEE MONTAGNE, HOST:

NPR's Jim Zarroli reports.

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Law
3:26 pm
Tue February 4, 2014

Senate Steps Into The Data Breach Controversy

Originally published on Tue February 4, 2014 6:00 pm

Transcript

AUDIE CORNISH, HOST:

A top executive at the retail chain Target went to Capitol Hill today to try to explain the massive security breach that hit the company in December. Hackers stole personal information of tens of millions of Target customers during the holiday shopping season. The incident has underscored the increasing sophistication of cyber criminals and the vulnerability of big retailers. NPR's Jim Zarroli has more on the hearing.

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Economy
2:15 pm
Mon February 3, 2014

The Dow Drops Again, But What's Driving The Sell-Off?

Originally published on Mon February 3, 2014 5:33 pm

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

The stock market had one of its worst days in months today after some disappointing news about manufacturing. The Dow Jones Industrial Average fell more than 300 points, about two percent. The other major indexes were down even more.

NPR's Jim Zarroli tells us investors are reacting to new concern about the health of the global economy.

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Business
3:01 am
Mon February 3, 2014

Jury To Get Insider Trading Case Of Matthew Martoma

Originally published on Mon February 3, 2014 5:43 am

Transcript

RENEE MONTAGNE, HOST:

And a jury in New York is expected to begin deciding the fate of Matthew Martoma this week. A former portfolio manager at the hedge fund company SAC Capital Advisors, Martoma is accused of insider trading. Officials say he sold shares of two pharmaceutical companies after obtaining inside information about drugs being developed.

NPR's Jim Zarroli has more.

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Economy
2:52 pm
Tue January 28, 2014

Days Of Turmoil Test Stability Of Emerging Markets

Originally published on Tue January 28, 2014 4:55 pm

Transcript

ROBERT SIEGEL, HOST:

After losing a lot of ground, stock prices were back up a bit today. Investor anxiety about the state of the world's currency markets seemed to ease. The current turmoil is reminiscent of the 1997 currency crisis in Asia, which hurt economies all over the world.

As NPR's Jim Zarroli reports, there are also some big differences.

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Business
3:18 am
Mon January 27, 2014

Federal Reserve Officials To Evaluate Stimulus Easing

Originally published on Mon January 27, 2014 5:25 am

Federal Reserve officials are meeting this week to decide whether to continue easing up on economic stimulus measures. The pullback by the Fed so far is being felt around the world, especially in some emerging markets.

Economy
5:09 pm
Thu January 23, 2014

Study: Upward Mobility No Tougher In U.S. Than Two Decades Ago

The study did reveal widespread disparity in upward mobility based on geography. For those hoping to climb the economic ladder, San Francisco is one of the best places to live, the study found.
Justin Sullivan Getty Images

Originally published on Fri January 24, 2014 3:32 pm

A new study finds that contrary to widespread belief, it's no harder to climb the economic ladder in the United States today than it was 20 years ago.

But the study did find that moving up that ladder is still a lot more difficult in the U.S. than in other developed countries.

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