Business

Business
3:37 am
Thu January 17, 2013

How Is The Housing Industry's Recovery Faring?

Originally published on Thu January 17, 2013 9:11 am

Transcript

RENEE MONTAGNE, HOST:

The Federal Reserve, yesterday, released its latest snapshot of the state of the U.S. economy. Retail and auto sales were up slightly over the year before, as was activity in the all important housing sector. Real estate sales were seen as steady or improved across much of the country.

For more on housing prices and economic recovery, we turn this morning, as we often do, to David Wessel. He's economics editor of The Wall Street Journal. Good morning.

DAVID WESSEL: Good morning, Renee.

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Business
3:37 am
Thu January 17, 2013

New Rules Issued For Mortgage Servicing Companies

Originally published on Thu January 17, 2013 9:11 am

Transcript

RENEE MONTAGNE, HOST:

The Consumer Protection Financial Bureau is unveiling today the second half of its new mortgage rules. It will outline how the mortgage industry must manage loans that are delinquent or in the process of being foreclosed.

NPR's Yuki Noguchi reports that these rules, among other things, aim to make it easier for borrowers to communicate with the people handling their mortgages.

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Around the Nation
3:37 am
Thu January 17, 2013

FBI Arrests Dozens In Garbage Pickup Case

Originally published on Thu January 17, 2013 9:11 am

Transcript

STEVE INSKEEP, HOST:

Some other news. Thirty-two people from New York and New Jersey are charged with using threats of violence to control garbage pickup routes.

Authorities say many have ties to the mob, as NPR's Joel Rose reports.

JOEL ROSE, BYLINE: Organized crime has a long history of infiltrating the trash collection business in New York and New Jersey. It's also the official family business of America's most famous TV gangster, Tony Soprano.

(SOUNDBITE OF TV SHOW, "THE SOPRANOS")

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NPR Story
3:27 am
Thu January 17, 2013

FAA Grounds Boeing's New Jetliner In The U.S.

Originally published on Thu January 17, 2013 9:11 am

Transcript

RENEE MONTAGNE, HOST:

Still more trouble for Boeing's newest passenger jet, the 787, known as the Dreamliner. The FAA has grounded all U.S.-owned 787s because of safety concerns. This follows an earlier move by Japan doing the same. NPR's Wendy Kaufman reports for today's Business Bottom Line.

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Business
3:11 pm
Wed January 16, 2013

Troubles Continue For 787 Dreamliner With Groundings In Japan

Originally published on Fri January 18, 2013 5:16 am

Transcript

AUDIE CORNISH, HOST:

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

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

There are new and bigger troubles today for the Boeing 787, the airplane known as the Dreamliner. Late today, the FAA grounded the U.S. fleet of 787s for safety checks. The grounding and inspection order will likely be implemented around the world. The move comes after two serious battery-related problems occurred on two different Dreamliners in the past 10 days. Here's NPR's Wendy Kaufman.

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The Two-Way
2:28 pm
Wed January 16, 2013

JPMorgan Chase Sees Profits Rise, Halves CEO's Salary For London Debacle

Originally published on Thu January 17, 2013 4:41 am

JPMorgan Chase reports that its profits were up 53 percent in the fourth quarter of 2012 — but CEO Jamie Dimon's pay will be cut in half, after the bank lost billions of dollars on risky bets made in its London office. The incident tarnished the reputation of Dimon, who had successfully steered his bank through the recent financial crisis.

"This past year has been a bruising one for Dimon," as NPR's Steve Henn reports for our Newscast unit:

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The Two-Way
1:00 pm
Wed January 16, 2013

Outsourced: Employee Sends Own Job To China; Surfs Web

Plugged in, but not at work: Web security personnel were called in to find out how a company's network was being accessed from China. They found that an employee had outsourced his own job.
AFP AFP/Getty Images

Originally published on Thu January 17, 2013 4:41 am

What began as a company's suspicion that its infrastructure was being hacked turned into a case of a worker outsourcing his own job to a Chinese consulting firm, according to reports that cite an investigation by Verizon's security team. The man was earning a six-figure salary.

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Business
9:57 am
Wed January 16, 2013

Small Business Owners Turn To Friends For Money

Starting a small business hasn't been easy lately. People are now turning to their peers for funding after being denied credit from big banks. But that has its own set of risks and rewards. Host Michel Martin explores the future of small business in 2013.

The Two-Way
6:51 am
Wed January 16, 2013

Inflation Rate Slowed Sharply In 2012; Prices Were Flat In December

The cost of a gallon of gas kept rising last year, but not at the torrid pace of 2010 and 2011. That helped keep inflation in check.
Joe Raedle Getty Images

Originally published on Wed January 16, 2013 8:21 am

Consumer prices rose just 1.7 percent in 2012, the Bureau of Labor Statistics reports. That's about half the pace of 2011 — when prices went up 3 percent.

In December, BLS says, prices were unchanged.

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Business
3:37 am
Wed January 16, 2013

The Last Word In Business

Originally published on Wed January 16, 2013 4:56 am

The online retailer Cafe Press is happy to sell you inaugural mouse pads, shot glasses, and mugs. And the merchandise is bipartisan, including a sweatshirt with the message: "I was Anti-Obama Before It Was Cool."

Business
3:37 am
Wed January 16, 2013

Who Is The Real Victims Of The NHL Lockout?

Originally published on Wed January 16, 2013 3:59 am

Transcript

RENEE MONTAGNE, HOST:

The lockout is over and the much delayed National Hockey League's season is now set to begin on Saturday. The regular season will run 48 games instead of the usual 82.

So what's the economic effect of missing almost half the season? NPR's Mike Pesca finds, not as bad as you might think.

MIKE PESCA, BYLINE: We've all seen the reports during the lockout, the empty bar near the arena should be brimming with Bruins backers or a Washington Avalanche acolytes. Or maybe it's not a bar. Maybe it's pizza in Pittsburgh.

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Business
3:37 am
Wed January 16, 2013

Sick Workers' Dilemma: Stay Home Or Go To Work?

Chaim Gross, 24, is known as "Patient Zero" at his company Zeno Radio. About half of the workers have fallen ill in the past couple of months.
Ailsa Chang NPR

Originally published on Wed January 16, 2013 6:18 am

As the earliest flu outbreak in years continues to claim victims, businesses are taking a hit, too. They're faced with an unsolvable problem: If they tell too many sick employees to stay home, the work doesn't get done. But when people sick with flu and other bugs show up, they're spreading illness through the workplace.

It's a dilemma the staff at Zeno Radio, a media technology company in Midtown Manhattan, has seen unfold this winter.

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Business
3:37 am
Wed January 16, 2013

Business News

Originally published on Wed January 16, 2013 4:52 am

The new figure predicts the world economy will grow by only 2.4 percent this year — lower than the 3 percent the World Bank predicted last June. Among the reasons the bank cited for the new forecast: the continued economic weakness of developed countries.

Planet Money
1:07 am
Wed January 16, 2013

Is Herbalife A Pyramid Scheme?

Susan Goldman AP

Originally published on Wed January 16, 2013 4:34 pm

Herbalife, a company that sells weight loss shakes, vitamins and other similar products, is worth billions of dollars. The company has been around for more than 30 years, and it's traded on the New York Stock Exchange.

Bill Ackman thinks the whole thing is a pyramid scheme.

Ackman manages a hedge fund that has shorted more than a billion dollars' worth of Herbalife stock. If the stock falls — and Ackman says he thinks it will fall all the way to zero — the fund will make money.

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All Tech Considered
12:09 am
Wed January 16, 2013

'It's About Time': Facebook Reveals New Search Feature

Facebook CEO Mark Zuckerberg speaks at Facebook headquarters in Menlo Park, Calif., on Tuesday.
Jeff Chiu AP

Originally published on Wed January 16, 2013 6:47 am

Facebook has launched a new feature that will let its users search for more detailed information across the social network. Soon, you'll be able to find the restaurants and TV shows your friends like or see every picture they've taken at the Grand Canyon.

As much as users may like the new features, the company hasn't exactly been a Wall Street darling. So, the new feature may be less about you and me and more about Facebook's bottom line.

"It's about time," Nate Elliott, an analyst at Forrester Research, said about the new feature. "It should have been there all along."

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Business
3:45 pm
Tue January 15, 2013

Wal-Mart Offers Jobs To Any New Veterans With An Honorable Discharge

Originally published on Tue January 15, 2013 5:54 pm

Transcript

AUDIE CORNISH, HOST:

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

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Wal-Mart said today that it will soon begin offering a job to any newly discharged veteran who wants one. The offer comes at a time when new veterans are having a tough time finding work. Also, Wal-Mart CEO Bill Simon promised the company will increase the amount of products it buys from domestic sources.

NPR's Jim Zarroli tells us more about both announcements.

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The Two-Way
1:29 pm
Tue January 15, 2013

Facebook Unveils Graph Search, Adding A New 'Pillar' To Services

A sample search of Facebook's new Graph Search feature shows users' photographs. The company says users can also look for music.
Facebook

Originally published on Wed January 16, 2013 4:48 am

Users of Facebook will soon have a new search tool at their disposal, the leaders of the company announced Tuesday during a live event. The new Graph Search feature will let those on Facebook sift through photos, people, places, and business pages.

The new search ability will join Facebook users' newsfeed and timeline as "pillars" of their experience, said Facebook CEO Mark Zuckerberg, who predicted Graph Search would become an "amazing resource."

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The Two-Way
11:43 am
Tue January 15, 2013

Breweries Must Share 'Budweiser' Name, British Court Rules

A glass of Czech Budweiser beer is seen at the the Budejovicky Budvar brewery in southern Bohemia. Britain's highest court has ruled that the "Budweiser" name must be shared by two companies.
Michal Cizek AFP/Getty Images

Originally published on Wed January 16, 2013 4:54 am

The word "Budweiser" will continue to mean two different things in Britain, where the brand name has been a bone of contention for more than a decade. The U.K. Supreme Court has ruled against Anheuser-Busch InBev's request to stop Czech brewery Budvar from selling beer under the Budweiser name.

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The Salt
11:39 am
Tue January 15, 2013

Matching Diners To Chefs, Startups Hatch Underground Supper Clubs

Japchae, a cooking class and Korean supper club held in 2012 in Ballston, Va., was organized through the site Feastly.
Courtesy of Noah Karesh

Originally published on Wed January 16, 2013 11:36 am

Remember all that hype about "underground" supper clubs a few years back? They lure adventurous diners into homes and makeshift spaces where fledgling chefs cook up feasts for pay. The hosts trade in secrecy and exclusivity, and play up food specificity with themes like "Pig Every Which Way," "Jewish Soul Food" and "A Taste Of Tripoli" (because there is no Libyan restaurant in town). And, on top of the food, attendees can revel in the novel experience of eating face-to-face, side-by-side with total strangers.

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Economy
10:05 am
Tue January 15, 2013

Has Obama Leveled The Economic Playing Field?

Originally published on Tue January 15, 2013 10:22 am

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin and this is TELL ME MORE from NPR News. Coming up, we get an update on developments in Mali in West Africa. That's a country known to many for its cultural heritage. French soldiers have started an assault to repel Islamist militants who have already taken northern territory. NPR's Ofeibea Quist Arcton is going to bring us up to date in just a few minutes.

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Money Coach
10:05 am
Tue January 15, 2013

Buy Shoes On Wednesday To Save Money

Originally published on Tue January 15, 2013 10:22 am

Transcript

MICHEL MARTIN, HOST:

And now, we turn to matters of personal finance and, as we are about midway through January, we thought we'd ask, how's that new year's resolution going? According to a poll from Marist University, spending less and saving more money is one of the top five resolutions Americans made for 2013.

But what if you just can't resist those cute pumps or that stress-relieving massage or you really need some new sheets and towels or that oil change? It turns out that there are actually optimal times in the year to buy certain things.

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The Two-Way
8:07 am
Tue January 15, 2013

Wal-Mart Offers Veterans Jobs, Expects To Hire 100,000 Over Five Years

The scene in a Wal-Mart store in Alexandria, Va.
AP

Originally published on Tue January 15, 2013 10:28 am

Saying that "hiring a veteran can be one of the best business decisions you make," Wal-Mart U.S. CEO Bill Simon confirmed this morning that the retail giant is launching a plan to hire more than 100,000 recently discharged veterans over the next five years.

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The Two-Way
7:11 am
Tue January 15, 2013

Retail Sales Rose As 2012 Ended; Inflation Remained In Check

Shoppers in Manhattan on Christmas Eve last month.
Keith Bedford Reuters /Landov

Retail sales rose 0.5 percent in December from November, the Census Bureau says. That may be a sign that as 2012 ended consumers were still in a shopping mood even as lawmakers in Washington struggled to keep the federal government from going over the so-called fiscal cliff.

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Business
2:22 am
Tue January 15, 2013

Toyota Regains No. 1 Sales Position

Originally published on Tue January 15, 2013 4:43 am

After careening from back-to-back crises — recalls and the tsunami — Toyota is No. 1 in worldwide sales again. Toyota says it sold at least 9.7 million vehicles in 2012. General Motors reports it sold 9.3 million. Both companies say it doesn't really matter which one is in the top spot.

Business
2:22 am
Tue January 15, 2013

Business News

Originally published on Tue January 15, 2013 5:32 am

Wal-Mart is expected to announce that it will hire every veteran who wants a job as part of a new program beginning on Memorial Day. The only requirements: that he or she left the military in the previous year and wasn't dishonorably discharged.

Business
2:22 am
Tue January 15, 2013

The Last Word In Business

Originally published on Tue January 15, 2013 5:38 am

The deal is valued at close to $1 billion. Harry Winston is a symbol of luxury. It regularly loans out its diamond studded creations to stars for their walk down the red carpet. Swatch may be best known for its colorful plastic watches.

Politics
2:22 am
Tue January 15, 2013

Obama Urges Congress To Raise Debt Ceiling

Transcript

RENEE MONTAGNE, HOST:

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

STEVE INSKEEP, HOST:

And I'm Steve Inskeep. Good morning.

In a looming battle over the federal debt ceiling, Republicans in Congress insist they hold the cards. They do have the power to stop federal borrowing, withhold payment of federal debts and cause unknown damage to the world economy. Some want to use that power to force President Obama to reduce federal spending in the way they want.

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Business
2:22 am
Tue January 15, 2013

JPMorgan Chase Agrees To Beef Up Risk Management

Originally published on Tue January 15, 2013 4:06 am

Banking regulators are telling JPMorgan Chase that it must take action to improve its risk analysis and money-laundering controls. The bank racked up a $6 billion trading loss last year. CEO Jamie Dimon cited managerial lapses and called the loss inexcusable.

Around the Nation
2:22 am
Tue January 15, 2013

Utilities Contemplate What Climate Change Means To Them

Originally published on Tue January 15, 2013 7:36 am

Superstorm Sandy devastated the mostly below ground electric system that runs through the heart of Manhattan. What happens if Sandy is part of a new weather pattern? Con Edison, the utility that provides power to much of New York's five boroughs, is looking for ways to protect its aging infrastructure.

Business
2:22 am
Tue January 15, 2013

South Park Duo Creates Production Studio

Originally published on Tue January 15, 2013 4:44 am

Transcript

RENEE MONTAGNE, HOST:

And in other news, the creators of "South Park" and "The Book of Mormon" have announced they are forming their own production studio. NPR's Mandalit del Barco reports.

MANDALIT DEL BARCO, BYLINE: Having success in TV, movies and Broadway, Trey Parker and Matt Stone are now branching out with their own, $300 million production company. They've named it Important Studios, and it's poised to approve TV movie and theater projects. It will give the moguls creative and financial control over what they do.

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