Business

The Two-Way
2:27 pm
Fri September 28, 2012

Fox News' Smith Apologizes After Man Commits Suicide On Air

Shepard Smith apologized to viewers Friday afternoon, after his show aired live footage of a man who fled police and then shot himself.
Fox News

Originally published on Mon October 1, 2012 9:30 am

After inadvertently airing live coverage of a car chase that ended with a man's suicide, Shepard Smith of Fox News has issued an apology to viewers of his show. The incident occurred as the cable network carried a live feed of a man fleeing police on the interstate west of Phoenix.

In the footage, the man abandoned his vehicle and began running across a field, before pulling out a gun and shooting himself in the head. Despite being filmed from a helicopter hovering above the scene, the footage was graphic enough to prompt immediate yelling in the Fox News studio.

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Business
10:12 am
Fri September 28, 2012

Bank Of America To Pay $2.43 Billion In Settlement

Transcript

STEVE INSKEEP, HOST:

NPR's business news begins with more fallout from the financial crisis.

(SOUNDBITE OF MUSIC)

The Two-Way
8:46 am
Fri September 28, 2012

Apple Is 'Extremely Sorry' For Its Much-Maligned Maps, CEO Tim Cook Says

Will it take you where you want to go? A new iPhone 5 and Apple's new mapping software.
Beck Diefenbach Reuters /Landov

How much of a "public relations disaster" has Apple's new mapping software been?

Big enough that the famously proud company has apologized — and suggested that users can turn to arch rival Google Maps instead.

In a message "to our customers" posted this morning, CEO Tim Cook says:

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The Two-Way
7:33 am
Fri September 28, 2012

Bank Of America To Pay $2.43 Billion To Settle Class Action Lawsuit

Bank of America's corporate center in Charlotte, N.C.
Scott Olson Getty Images

While denying it did anything wrong, Bank of America announced this morning it will pay "$2.43 billion and institute certain corporate governance policies ... to settle a class action lawsuit brought in 2009 on behalf of investors who purchased or held Bank of America securities at the time the company announced plans to acquire Merrill Lynch."

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The Two-Way
6:54 am
Fri September 28, 2012

Income And Spending Both Basically Flat In August

Higher prices at the pump meant the amount of money consumers spent went up last month.
Kevork Djansezian Getty Images

Americans' personal income grew by just 0.1 percent in August from July and consumer spending would have been basically flat as well if it hadn't been for higher gasoline prices, the Bureau of Economic Analysis reported this morning.

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Economy
3:14 am
Fri September 28, 2012

Spain's Budget Cuts Likely To Provoke Protests

Originally published on Fri September 28, 2012 6:29 am

Transcript

STEVE INSKEEP, HOST:

European finance ministers have asked Spain if it might need a few bucks to tide it over - in particular, $125 billion to prop up failing banks. The Spanish government is expected to announce today how much of that sum it will need.

Shoring up banks is one step Spain is taking to prevent economic collapse. Another step is to slash more than $50 billion dollars in spending.

Lauren Frayer reports from Madrid on Spain's new budget, unveiled last night.

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Business
3:09 am
Fri September 28, 2012

Hiring Outlook For College Graduates Improves

Originally published on Fri September 28, 2012 6:29 am

The report from the National Association of Colleges and Employers says hiring for the upcoming class of graduates will jump 13 percent from a year ago. But the improvement won't get the job market for new grads back to where it was before the recession.

NPR Story
2:49 am
Fri September 28, 2012

Business News

Originally published on Fri September 28, 2012 6:29 am

PNC Bank says its website is the latest victim of a denial of service attack. Users who tried to access the bank's websites had trouble loading the pages, or couldn't get into their accounts. But officials say the accounts were not compromised.

Business
2:49 am
Fri September 28, 2012

The Last Word In Business

Originally published on Fri September 28, 2012 8:34 am

The convenience store chain is allowing customers to choose: coffee in a blue cup for President Obama, or a red cup for Mitt Romney. And for the undecided, or those just indifferent to politics, they can request a plain cup. The company tabulates the choices at the register and results are posted daily on its 7-Election website.

Planet Money
1:25 am
Fri September 28, 2012

He Won't Tell You His Name, But He'll Help You Hide Your Money

Meet Adam Wolf*, your asset protection adviser. (*Not his real name.)
via Global Wealth Protection

Originally published on Sat September 29, 2012 5:11 pm

We set up our shell companies. Then we wondered: What do people actually do with shell companies?

One popular use, it turns out, is what professionals call "asset protection." Ordinary people call this "hiding money."

Maybe you're a surgeon worried a patient might sue you and take everything you have. Or you want to hide money from your ex (or your soon-to-be ex).

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Economy
1:24 am
Fri September 28, 2012

Easy Money May Boost Economy But At What Cost?

Specialist David Pologruto works at his post on the floor of the New York Stock Exchange on Sept. 13, as Federal Reserve Chairman Ben Bernanke holds a news conference in Washington. The world's central banks are easing credit, putting more money into the global economy.
Richard Drew AP

Originally published on Fri September 28, 2012 10:31 am

The world's central banks are pumping cash into their economies, pushing down interest rates in hopes the ready cash and lower rates will boost borrowing and economic activity. Everyone agrees the action is dramatic and unprecedented, but there's disagreement over whether they will do more harm than good.

Economists know very well the trillions of dollars being added by the central banks to the global economy can be risky.

"These are risks about long-term rises in inflation, housing bubbles potentially building up," says Jacob Kirkegaard of the Peterson Institute.

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Around the Nation
3:29 pm
Thu September 27, 2012

Despite Record Drought, Farmers Expect Banner Year

With far less than half of their normal corn yield, the Ulrich brothers are relying in part on government-subsidized crop insurance to keep their farm afloat.
Frank Morris KCUR

Originally published on Fri September 28, 2012 10:39 am

After one of the driest summers on record, recent rains have helped in some parts of the country. But overall, the drought has still intensified. The latest tracking classifies more than a fifth of the contiguous United States in "extreme or exceptional" drought, the worst ratings.

In some parts of the Lower Midwest, water-starved crops have collapsed, but the farmers have not. Farmers across the country are surviving, and many are even thriving. This year, despite the dismal season, farmers stand to make exceptionally good money, according to the U.S. Department of Agriculture.

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Digital Life
2:56 pm
Thu September 27, 2012

'Angry Birds' Spinoff Flies To Top Of iTunes Charts

Originally published on Thu September 27, 2012 3:50 pm

Transcript

(SOUNDBITE OF MUSIC)

ROBERT SIEGEL, HOST:

This soundtrack has accompanied untold wasted hours around the globe. It is the music from "Angry Birds," the addictive mobile game that surpassed one billion downloads in May.

(SOUNDBITE OF CHEERING)

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Business
2:24 pm
Thu September 27, 2012

American Airlines Fliers Fed Up As Labor Clash Rages

American Airlines planes sit on the tarmac at Miami International Airport this month. Reports indicate that American Airlines has canceled somewhere between 2 and 5 percent of flights in recent days, reportedly blaming a surge in pilot sick days and maintenance write-ups by pilots.
Joe Raedle Getty Images

Originally published on Fri September 28, 2012 10:37 am

Pat Henneberry is an airline's dream customer. She flies all week, every week, and buying an $800 ticket so that she can have full flexibility is standard operating procedure. She's an American Airlines platinum customer. But she is fed up with the endless delays and cancellations.

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Planet Money
12:28 pm
Thu September 27, 2012

Surprise! There Are 386,000 More Jobs Than We Thought

We thought the U.S. economy added just under 2 million jobs between March, 2011 and March, 2012. Turns out, the actual number was more like 2.4 million — a big difference!

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Economy
9:43 am
Thu September 27, 2012

Housing Prices Up, But Market Far From Recovered

Originally published on Thu September 27, 2012 11:54 am

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE from NPR News. I'm Celeste Headlee. Michel Martin is away. Coming up, Eric LeGrand was a star college football player until a tackle left him paralyzed. We'll speak with him about his new memoir and his new life. That's in a moment.

But, first, let's turn to housing. The Standard & Poor's Case-Shiller Home Price Index is one of the top measures of the U.S. housing market and the latest report just out this week says prices are on the rise.

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The Two-Way
6:54 am
Thu September 27, 2012

Orders Plunge, GDP Growth Revised Down

A huge drop in demand for cars, aircraft and other transportation equipment pulled down orders for so-called durable goods in August, the Census Bureau says.

Orders fell 13.2 percent, "the largest decrease since January 2009."

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Business
2:50 am
Thu September 27, 2012

Has Apple's Fued With Google Hurt Its iPhone 5?

Originally published on Thu September 27, 2012 3:08 am

The fallout from Apple's controversial decision to drop Google Maps from the iPhone 5 continues. Customers aren't giving Apple Maps any love, and analysts say Apple made an uncharacteristic blunder in dumping Google.

Business
2:50 am
Thu September 27, 2012

Atlanta Symphony Musicians Ratify New Contract

When the two sides couldn't reach an agreement last month, players were locked out of the Woodruff Arts Center. With the season set to begin in just one week, the musicians approved a deal with $5 million in concessions.

Business
2:50 am
Thu September 27, 2012

The Last Word In Business

Originally published on Thu September 27, 2012 4:53 am

Transcript

DAVID GREENE, HOST:

There is at least one group of musicians out there who don't seem to have any money problems. Our last word in business is: Kiss. They know what their fans want.

(SOUNDBITE OF SONG, "ROCK N' ROLL ALL NIGHT" )

KISS: (Singing) I wanna rock and roll all night and party every day. I, wanna rock and roll...

STEVE INSKEEP, HOST:

You know you're moving your head as if you're playing a guitar onstage right now.

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Business
2:50 am
Thu September 27, 2012

Business News

Originally published on Thu September 27, 2012 4:44 am

Kareem Serageldin is accused of hiding mortgage security losses during the financial crisis. He faces extradition to the U.S. A former senior trader for Credit Suisse, Serageldin is the highest level Wall Street executive to be charged in a case related to the 2008 financial meltdown.

NPR Story
2:50 am
Thu September 27, 2012

Regular NFL Refs Will Be Back On The Job Thursday

Originally published on Thu September 27, 2012 3:19 am

Transcript

STEVE INSKEEP, HOST:

We are pleased to announce this morning that NPR has ended its lockout of Mike Pesca. The network reached a deal with our sports correspondent after his replacement repeatedly confused adjectives with adverbs. OK, that's a joke, but in reality the NFL reached a deal with referees after the replacements made a series of brutally criticized calls. Mike Pesca has been following developments.

Mike, good morning.

MIKE PESCA, BYLINE: And that was a goodly decision. Oh, wait a minute. I've done it too.

(LAUGHTER)

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Business
1:40 am
Thu September 27, 2012

In Solyndra's Wake, Solar Company Sees Bright Spot

SoloPower is betting it will succeed where others have failed with a $197 million loan from the Department of Energy.
SoloPower/PRNewsFoto AP

Originally published on Thu September 27, 2012 7:59 am

A small solar power company hopes to become a winner in a market littered with losers.

San Jose, Calif.-based SoloPower is opening a $60 million manufacturing facility in Portland, Ore., Thursday as it works toward receiving a major government loan — like the one given to now-bankrupt Solyndra. SoloPower thinks it has a strategy to succeed where Solyndra failed.

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The Record
10:03 pm
Wed September 26, 2012

YouTube Shares Ad Revenue With Musicians, But Does It Add Up?

Donna Summer in 1976. YouTube's Chris Maxcy says the company targets advertising to videos by artists like her and gives a share of the revenue from it to the track's label and publisher.
Keystone Getty Images

Originally published on Thu September 27, 2012 8:04 am

YouTube is well-known for videos, but a recent Nielsen study revealed 64 percent of teens and young adults go to it to listen to and discover music. The free website, which is owned by Google, has set up advertising deals to help musicians get compensated. But it's not clear how they're getting paid — or how much.

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The Salt
1:43 pm
Wed September 26, 2012

Greek Credit Crisis Forces Winemakers, Food Canners To Adapt

Winemakers like Stellios Boutaris, shown near his vineyard outside Naoussa, Greece, and other business leaders have been forced to pursue new financial tactics because credit is hard to come by.
Jim Zarroli NPR

Originally published on Wed September 26, 2012 3:54 pm

When the economic crisis erupted in Greece and the bottom fell out of the domestic wine market, the Kir-Yianni vineyard outside picturesque Naoussa decided to adapt. Like other wineries in Greece, it has increasingly tapped the export market, successfully marketing and selling wine in Europe, the United States and even China.

"If you ask me, this crisis has been good for us," says Stellios Boutaris, the son of the company's founder. "It's going to make us stronger."

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The Two-Way
1:22 pm
Wed September 26, 2012

Freddie Mac Didn't Harm Homeowners, Inspector General Says

In January, NPR and ProPublica reported on a potential conflict of interest at Freddie Mac, a mortgage giant sponsored by the federal government. The stories noted that even as Freddie Mac was writing rules making it harder for homeowners to refinance their mortgages, it also was stepping up investments in securities that gain when homeowners remain stuck in high-rate loans.

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World
11:15 am
Wed September 26, 2012

Badger Battle: British Animal Lovers Protest Cull

Badgers have been blamed for spreading disease among cattle in Britain. But a campaign to cull the badgers has been met with opposition from prominent figures like Queen guitarist Brian May, who joined this rally in Bristol earlier this month.
Matt Cardy Getty Images

Originally published on Wed September 26, 2012 3:54 pm

The badger, a stalwart of BBC nature programs, is one of Britain's most beloved animals and is a protected species.

To many English dairy farmers, though, this timid omnivore with the black and white stripes is a mobile biological weapon, exposing their cows to bovine tuberculosis through its urine and saliva.

And they've persuaded the British government to sanction extreme measures.

This month, the government issued licenses allowing trained marksmen to wipe out 70 percent of the badger populations in two pilot areas.

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The Salt
9:35 am
Wed September 26, 2012

If GM Apples Don't Brown, How Can You Tell If They're Rotten?

Soon after being sliced, a conventional Granny Smith apple (left) starts to brown, while a newly developed GM Granny Smith stays fresher looking.
Courtesy of Okanagan Specialty Fruits Inc.

Originally published on Thu September 27, 2012 1:13 pm

In the fairy-tale world, a shiny red apple can lead to a poisonous end. But some see two genetically engineered green apple varieties, poised to become the first to gain U.S. Department of Agriculture approval, as similar harbingers of doom.

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The Two-Way
8:23 am
Wed September 26, 2012

New Home Sales Were Flat In August, But Prices Rose Sharply

Model homes at a new development in Millbrae, Calif., earlier this year.
David Paul Morris Getty Images

While the number of new homes sold in August was barely changed from July, the median sales price was up sharply, the Census Bureau and Department of Housing and Urban Development report. So the news adds to other recent signs, including Tuesday's report about higher home prices in major cities, of a recovering housing sector.

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Business
3:06 am
Wed September 26, 2012

Lesser-Known IPOs Fare Better Than Facebook

Originally published on Wed September 26, 2012 8:36 am

Transcript

STEVE INSKEEP, HOST:

Facebook share price have lost almost half of its value since the social networking company had its initial public offering, or IPO, in the spring. Hundreds of millions of followers apparently will not guarantee you success in the stock market - at least not in the short-term.

Many lesser-known companies have also plunged into the stock market this year in the hopes of raising lots of capital, but their prices have not plunged - they're doing better than Facebook.

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