Business

The Salt
3:42 pm
Tue June 30, 2015

Communities Get A Lift As Local Food Sales Surge To $11 Billion A Year

Tomatoes at Union South Farmers Market in Madison Wisconsin.
Patrick Kuhl Flickr

There's a renaissance in local and regional food, and it's not just farmers markets in urban areas that are driving it.

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Europe
3:29 pm
Tue June 30, 2015

How Default Could Push Greece Out Of The Eurozone

People wait in line to withdraw euros from an ATM after Greece closed its banks Monday in Athens.
Milos Bicanski Getty Images

Originally published on Tue June 30, 2015 5:14 pm

This story was updated at 7 p.m. ET.

The deadline passed Tuesday evening for Greece to make a key loan payment to the International Monetary Fund — putting it a step closer toward quitting the euro.

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The Two-Way
3:20 pm
Tue June 30, 2015

Debate Begins: New OT Rules Will Raise Wages — Or Kill Jobs

President Obama has proposed a rule requiring requiring overtime pay for more workers. The plan has drawn fire from many employers.
Pablo Martinez Monsivais AP

Business groups and labor unions sharply disagreed today over the potential impact of a proposed change to the federal rule governing overtime pay.

In coming months, the two sides will submit comments in writing to the Labor Department to try to shape the rule's final wording, but the verbal sparring already has begun.

Business leaders say hiking overtime pay would reduce hiring, while unions say the change would stimulate the economy by raising incomes for about 5 million Americans.

Before laying out the different reactions, we'll look at what happened today:

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Economy
2:15 pm
Tue June 30, 2015

Export-Import Bank Set To Expire At Midnight After Congress Fails To Act

Originally published on Tue June 30, 2015 4:36 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Business
2:15 pm
Tue June 30, 2015

Obama Proposes Expanding Overtime Pay To Nearly 5 Million Workers

Originally published on Tue June 30, 2015 3:39 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

The Two-Way
8:21 am
Tue June 30, 2015

Wisdom Of The Crowds? Online Effort Seeks To Raise Funds For Greece

A collection of old Greek Drachma and euro notes and coins.
Geert Vanden Wijngaert AP

Originally published on Tue June 30, 2015 2:42 pm

Updated at 12:14 p.m. ET

Only 1,599,888,909 euros to go. A crowd-funding effort to raise the 1.6 billion euros (about $1.8 billion) Greece needs to make a loan payment to the International Monetary Fund has so far raised 111,091 euros ($124,569) from 7,275 donors.

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The Two-Way
5:03 am
Tue June 30, 2015

Greece Seeks New Bailout From Eurozone, Misses Loan Payment

Greece's Prime Minister Alexis Tsipras prepares for a TV interview at the State Television in Athens on Monday. He urged Greeks to vote "no" in Sunday's referendum on the terms of a bailout.
Thanassis Stavrakis AP

Originally published on Tue June 30, 2015 5:13 pm

Updated at 8:15 p.m. ET

The International Monetary Fund confirms that Greece has officially missed a loan payment and is in arrears.

Just hours before Greece was due to make the payment of approximately $1.8 billion dollars, the Greek government asked for a new bailout from countries that use the euro currency.

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Economy
3:03 am
Tue June 30, 2015

Facing Massive Debt, Puerto Ricans Warned Belt Tightening Will Be Needed

Originally published on Tue June 30, 2015 4:10 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

LINDA WERTHEIMER, HOST:

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Politics
2:58 am
Tue June 30, 2015

Obama Expected To Release Rule Governing Overtime

Originally published on Tue June 30, 2015 4:35 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

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Around the Nation
2:58 am
Tue June 30, 2015

As Budget Deadline Approaches, Illinois Faces A Government Shutdown

Originally published on Tue June 30, 2015 11:53 am

Copyright 2015 WUIS-FM. To see more, visit http://www.wuis.org/.

Europe
2:58 am
Tue June 30, 2015

A Financial Tragedy Plays Out In Greece: No Money And Debt Is Due

Originally published on Tue June 30, 2015 1:46 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

LINDA WERTHEIMER, HOST:

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NPR Story
2:58 am
Tue June 30, 2015

Congress Leaves For Recess Without Reauthorizing Export-Import Bank

Treasury Secretary Jacob Lew (center) speaks with (from left) Sen. Ben Cardin, D-Md., Ellicott Dredges GM Craig Murdock and CFO Joseph Wendel during a tour of the company's manufacturing facility in March. Lew was on hand to promote investment in American infrastructure. The company has utilized the Export-Import Bank's services.
Patrick Semansky AP

Originally published on Tue June 30, 2015 4:13 pm

An agency of the federal government will have to stop doing business today. That's because members of Congress went home last week for the July Fourth recess without reauthorizing the Export-Import Bank.

The bank helps American companies sell their goods overseas. The bank's critics say they're stopping corporate welfare.

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It's All Politics
8:22 pm
Mon June 29, 2015

President Pitches Overtime Rule That Could Raise Wages For 5 Million

President Obama signs a presidential memorandum in March of 2014 that directed the Department of Labor construct a new set of overtime rules, with the goal of making more employees eligible for overtime pay.
Mark Wilson Getty Images

Originally published on Tue June 30, 2015 7:17 am

President Obama is expected to release this week a long-awaited rule governing overtime that could affect 5 million people as soon as next year, a source familiar with the plans confirmed to NPR.

The proposed rule would more than double the salary cap under which most workers would qualify for overtime pay whenever they work more than 40 hours a week, the source said. The cap would be raised from $23,660 to $50,440, and indexed to wage growth or inflation, ensuring the cap would move with the overall economy.

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All Tech Considered
5:09 pm
Mon June 29, 2015

Apple Bets Big That You'll Start Paying To Stream Music

Apple's senior vice president of Internet Software and Services Eddy Cue speaks about Apple Music during the keynote at the annual developers conference.
Justin Sullivan Getty Images

Originally published on Mon June 29, 2015 5:30 pm

Spotify, Google Play, Amazon Prime, Rdio, Rhapsody, Pandora — the list of streaming music service goes on and on. On Tuesday, Apple joins that lineup with the launch of its streaming service, Apple Music. Apple will give consumers a three-month trial, and then it will charge $9.99 a month.

But most music lovers still aren't sure why they should pay. Colin Barrett, 31, has tried a few of the streaming services, but he doesn't use them anymore.

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Parallels
4:14 pm
Mon June 29, 2015

Greeks Brace For The Fallout As Deadline Looms

A Greek demonstrator urges a "no" vote in Sunday's referendum on whether Greece should accept international demands for additional financial austerity. He is holding an old 1,000 Greek drachma bank note during a rally in the northern Greek port city of Thessaloniki on Monday. Some Greeks say the country should leave the eurozone and go back to the drachma.
Giannis Papanikos AP

Originally published on Mon June 29, 2015 4:36 pm

Giorgos Koronis is welcoming tourists from the U.S. and England at the old Olympic Stadium in Athens, where the first modern Olympics were held in 1896.

Koronis, 50, has worked for the state for 25 years, mainly at ticket counters at various tourist sites around the Greek capital. But today he's struggling to smile.

He spent Monday morning at the ATM in line with a few retirees from his neighborhood, including his mother.

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U.S.
3:41 pm
Mon June 29, 2015

The Economic Reality Of The Same-Sex Marriage Ruling

Supporters of same-sex marriages gather outside the U.S. Supreme Court on April 28, in Washington, D.C.
Mladen Antonov AFP/Getty Images

Originally published on Mon June 29, 2015 4:32 pm

At Pride events in New York City this weekend, the emotional excitement about marriage equality was evident. But many people also were thrilled about the practical considerations.

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Latin America
3:25 pm
Mon June 29, 2015

Like Greece, Cash-Strapped Puerto Rico Needs A Fiscal Lifeline

Originally published on Tue June 30, 2015 3:52 am

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

ROBERT SIEGEL, HOST:

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Space
3:25 pm
Mon June 29, 2015

SpaceX Rocket Explosion Raises Questions About Private Space Companies

Originally published on Mon June 29, 2015 4:35 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

The Two-Way
3:23 pm
Mon June 29, 2015

If The Mess In Greece Is All Greek To You, Then Read This

The EU and national flags fly in the foreground of the Parthenon, as Greek voters prepare to decide whether to continue negotiating for more international loans.
Getty Images

Originally published on Tue June 30, 2015 8:59 am

"It was Greek to me."

Shakespeare used that phrase in one of his tragedies to suggest that a complicated matter was beyond understanding.

Many Americans may be muttering those words again as this week's Greek tragedy plays out.

The situation in Athens really is complicated, but it's also important. So let's walk through the basics together, and then consider what it might mean to Americans.

Here's what has happened so far:

-- The Greek government has way too much debt and can't pay its creditors.

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Business
2:27 pm
Mon June 29, 2015

NBC Dumps Donald Trump Over Comments On Mexican Immigrants

Originally published on Mon June 29, 2015 4:32 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

ROBERT SIEGEL, HOST:

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The Two-Way
1:25 pm
Mon June 29, 2015

NBCUniversal Is Cutting Ties With Donald Trump

NBCUniversal announced that it is cutting ties with Donald Trump after comments he made about immigrants.
Jim Cole AP

Originally published on Mon June 29, 2015 2:56 pm

Updated at 3:45 p.m. ET

NBCUniversal is ending its business relationship with Donald Trump following comments Trump made about Mexican immigrants. Trump's controversial remarks came as he was announcing his bid for the Republican Party's presidential nomination.

NBC said in a statement that:

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The Two-Way
9:33 am
Mon June 29, 2015

Supreme Court Blocks Obama Administration Plan On Power Plant Emissions

Originally published on Mon June 29, 2015 1:36 pm

Updated at 1:45 p.m. ET

The Supreme court has ruled against an Obama administration effort to limit toxic mercury emissions from power plants, saying the costs of compliance should be taken into account at the very earliest stages of the regulatory process.

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Shots - Health News
9:16 am
Mon June 29, 2015

Supreme Court's Decision On Same-Sex Marriage Expected To Boost Health Coverage

The crowd reacts as the ruling on same-sex marriage was announced outside of the Supreme Court in Washington, D.C., Friday.
Jacquelyn Martin AP

The right to marry in any state won't be the only gain for gay couples from last week's Supreme Court ruling. The decision will likely boost health insurance among gay couples as same-sex spouses get access to employer plans.

The logic is simple. Fewer than half of employers that offer health benefits make the insurance available to same-sex partners who aren't married. Virtually all of them offer coverage to spouses.

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The Two-Way
5:32 am
Mon June 29, 2015

European Leaders Warn Greeks On 'No' Vote In Referendum

Pensioners, who usually get their payments at the end of the month, wait outside a closed bank in Thessaloniki, Greece, on Monday. Greece's government announced capital controls, and the country's banks remained closed Monday.
Giannis Papanikos AP

Originally published on Mon June 29, 2015 2:30 pm

Updated at 11:42 a.m. ET

European leaders are warning Greeks who vote "no" in Sunday's referendum will be choosing to leave the eurozone, the bloc of countries that uses the common currency.

"It is democracy, it is the right of the Greek people to decide what they want for their future," French President Francois Hollande said in Paris. "What is at stake is whether or not Greeks want to stay in the eurozone (or) take the risk of leaving."

The comment was echoed by Italian Prime Minister Matteo Renzi, who said on Twitter:

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Europe
3:15 am
Mon June 29, 2015

Greece To Impose Capital Controls Amid Looming Default

Originally published on Mon June 29, 2015 4:14 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

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Space
3:05 am
Mon June 29, 2015

SpaceX Rocket Breaks Up On Liftoff

Originally published on Mon June 29, 2015 4:33 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

And in other news, an unmanned supply rocket blasted off yesterday in Florida headed to the International Space Station.

(SOUNDBITE OF ROCKET LAUNCH)

UNIDENTIFIED MAN: Three, two, one. Mission sequence start and lift off.

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The Two-Way
9:35 pm
Sun June 28, 2015

Economic Crisis Looms For Puerto Rico, Report Says

Puerto Rico Gov. Alejandro Garcia Padilla in April delivered his budget address for the next fiscal year at the Capitol building in San Juan.
Ricardo Arduengo AP

Originally published on Mon June 29, 2015 4:46 pm

A report obtained by NPR paints a bleak portrait of Puerto Rico's economic future, saying its deficit is much larger than previously thought.

"Puerto Rico faces hard times," says the report which was commissioned by the Government Development Bank and written by three former and current International Monetary Fund economists. It is to be released on Monday.

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The Two-Way
6:46 am
Sun June 28, 2015

Greece To Close Banks, Impose Capital Controls Amid Looming Default

A security worker brings money to a National Bank branch in Athens on Sunday. Greeks have been withdrawing euros in anticipation of a possible default on the country's debt payments early next week.
Marko Djurica Reuters/Landov

Originally published on Sun June 28, 2015 7:19 pm

Updated at 2:40 p.m. ET

Greece's Prime Minister Alexis Tsipras announced Sunday that banks will be closed and capital controls imposed in order to stave off a run on the euro after negotiations with the country's international lenders broke down.

He said the Athens stock market would also be closed.

However, Tsipras blamed the European Central Bank for the latest crisis after it decided not to increase the amount of emergency liquidity amid a run on the banks that saw people lined up at ATMs, many of which ran dry amid the onslaught.

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The Two-Way
2:28 pm
Sat June 27, 2015

Police Question Suspect In Lyon Factory Beheading

The Air Products industrial gas factory in Saint-Quentin Fallavier, France, shown on Saturday, a day after the attack.
Marius Becker DPA/Landov

Originally published on Sat June 27, 2015 5:50 pm

Police in France are questioning a suspect they believe was responsible for an explosion and the beheading of a man at a factory near Lyon on Friday. Officials reportedly say he took a "selfie" with the slain victim — his boss at the plant — and sent it to an unidentified Canadian mobile phone number.

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The Two-Way
9:31 am
Sat June 27, 2015

Greece Slouches Toward Default As Germany Rules Out Further Debt Talks

People stand in a line to use the ATMs of a bank in the northern Greek city of Thessaloniki on Saturday after the country's prime minister announced a snap referendum on an international bailout — pushing Athens toward a Tuesday deadline for a plan to prevent default on its IMF debt.
Giannis Papanikos AP

Originally published on Sat June 27, 2015 1:54 pm

Updated at 3:05 p.m. ET

Across Greece, people lined up outside banks and at ATMs to withdraw euros today after their prime minister called for a surprise referendum on a proposed international bailout for the troubled country — a move that has pushed Athens to the brink of default and an exit from the eurozone.

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