Business

Business
2:49 am
Tue September 25, 2012

The Last Word In Business

Originally published on Tue September 25, 2012 10:00 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business comes from Tony the Tiger.

(SOUNDBITE OF COMMERCIAL)

LEE MARSHALL: They're greeeaaat.

(SOUNDBITE OF MUSIC)

INSKEEP: A simple statement. But Tony may have to learn how to say it in Chinese because his parent company, Kellogg, just inked a deal with a firm in Singapore.

DAVID GREENE, HOST:

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NPR Story
2:49 am
Tue September 25, 2012

Apple Runs Out Of Initial iPhone 5 Stock

Originally published on Tue September 25, 2012 10:00 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with: somebody restock the shelves.

Apple says it sold more than 5 million of its new iPhone 5s over the weekend. The company says it has now run out of its initial stock. On its debut weekend, the iPhone 5 sold better than the last version of the iPhone. But sales were not quite as strong as many analyst expectations, and there are concerns about Apple's ability to keep up with demand.

Economy
2:49 am
Tue September 25, 2012

IMF's Lagarde: Uncertainty Slows Global Recovery

International Monetary Fund Managing Director Christine Lagarde delivers remarks at the Peterson Institute for International Economics on Monday in Washington, D.C. Lagarde said there are a number of factors eroding growth.
Paul J. Richards AFP/Getty Images

Originally published on Tue September 25, 2012 10:00 am

Managing Director of the International Monetary Fund Christine Lagarde says recent actions by the European Central Bank mark a positive turning point in Europe's financial crisis. But she warned that uncertainty elsewhere will continue to slow the pace of the global recovery.

Back in July, the IMF was forecasting world growth of just under 4 percent for next year. The group's economists will issue a new forecast in a couple of weeks. Lagarde said the new projection still foresees a gradual recovery, but it will shave a few tenths of a percent off global growth.

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Business
2:49 am
Tue September 25, 2012

Discover To Refund $200 Miollion To Customers

Originally published on Tue September 25, 2012 10:00 am

Transcript

STEVE INSKEEP, HOST:

Some other news. Discover Financial Services has agreed to refund $200 million to more than three and a half million credit card customers. A federal investigation found the company used deceptive marketing practices. It's one of the first major enforcement actions by the new Consumer Financial Protection Bureau.

NPR's Ailsa Chang reports that Discover allegedly charged customers for add-on services they never ordered.

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Business
1:27 am
Tue September 25, 2012

Chicago Pits Quieter, But Traders' Outcries Linger

Traders work in the bond pit at the Chicago Board of Trade in 1995. In recent decades, much of the trading has left the pits and gone electronic.
Michael S. Green AP

Originally published on Tue September 25, 2012 6:18 pm

The trading pits at the Chicago Board of Trade and the Mercantile Exchange have long been potent symbols of American capitalism. And they used to be as rough and tumble as the city itself, where burly men bought and sold commodities like hogs, cattle, corn and soybeans.

Trading volume has gone up considerably in recent years, but Chicago's trading pits are tamer places today — the result of a revolution futures trading has undergone over the past quarter century. Much of the trading has left the pits and gone electronic.

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Asia
1:21 am
Tue September 25, 2012

Americans In China Feel Pinch Of Shifting Economies

China has welcomed U.S. business expertise for many years as its economy has advanced rapidly. Jim Rogers, a prominent U.S. investor, is shown here in China at the 2nd Hunan Finance Expo in 2011. However, the Chinese are becoming more confident in their own business skills and more critical of American practices in recent years, according to U.S. business executives working in China.
ChinaFotoPress Getty Images

Originally published on Tue September 25, 2012 10:00 am

In recent years, China's status — like its economy — has continued to rise as the economies in America and Europe have struggled.

That shift isn't just reflected in economic numbers, and some American business people in China say they don't feel as respected or as valued as before.

Not long after Michael Fagle arrived in Shanghai in 2005 with DuPont, he went to visit a Chinese customer. Back then, Fagle says, he was treated as a sage from the West.

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The Record
10:03 pm
Mon September 24, 2012

Crowd Funding For Musicians Isn't The Future; It's The Present

The Physics, with Thig Nat at the right.
Courtesy of the artists

Originally published on Wed July 31, 2013 12:24 pm

By now, everyone's heard of Kickstarter, the website that lets people with an idea or project ask other people to contribute toward realizing it. It's called crowd funding, and this summer's big success story was musician Amanda Palmer. She raised more than $1 million to produce her new album. But crowd funding doesn't work for every musician every time.

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The Salt
3:18 pm
Mon September 24, 2012

Lawsuit Claims Pork Producers Council Scammed $60 Million From Farmers

"The Other White Meat" slogan has been a popular promotion for pork since the 1980s. But a recent lawsuit raises questions about who owns it and who pays.
ugod Flickr.com

You know that ad campaign for pork, the one that called it "the other white meat?" There's a fascinating behind-the-scenes story about that slogan, revealed in a new lawsuit that was just filed this morning by the Humane Society of the United States.

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All Tech Considered
2:24 pm
Mon September 24, 2012

Tesla's Big Gamble: Can The Electric Car Go Mainstream?

Tesla workers cheer on one of the first Tesla Model S cars sold, during a rally at the Tesla factory in Fremont, Calif., in June. The company is now unveiling a new network of refueling stations for the vehicles.
Paul Sakuma AP

Originally published on Tue October 16, 2012 2:33 pm

Starting a new car company from scratch isn't tried often in the United States. The last time one was truly successful was about 100 years ago. And Tesla Motors, a startup from Silicon Valley, faces some unusual hurdles.

Still, despite the challenges Tesla faces, the electric car company and its CEO, Elon Musk, have gotten further than most automotive entrepreneurs.

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The Two-Way
11:12 am
Mon September 24, 2012

'Flo' Makes List Of 'Top 10 Female Ad Icons;' Who's Missing?

Flo's an icon, the folks at Ad Age say.
Flo, the Progressive Girl's Facebook page

Originally published on Mon September 24, 2012 1:01 pm

Ad Age just unveiled its "top 10 female ad icons of all time" list:

-- Morton Salt's 'umbrella girl"

-- Betty Crocker

-- Miss Chiquita

-- Rosie the Riveter

-- Josephine the Plumber (Comet cleanser)

-- Mrs. Olson (for Folgers coffee)

-- Madge the manicurist (Palmolive soap)

-- Rosie the waitress (Bounty paper towels)

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The Two-Way
10:57 am
Mon September 24, 2012

More Than 5 Million New iPhones Sold In Debut Weekend, Apple Says

Hazem Sayed exits the Apple store on Fifth Avenue after purchasing his new iPhone 5.
Don Emmert AFP/Getty Images

Originally published on Tue September 25, 2012 1:50 pm

Apple sold more than 5 million iPhones this weekend, the company said in a press release. That surpasses the initial sales of the previous version.

As Bloomberg news reports, demand for the new phone quickly exceeded the initial supply, but some analysts expected bigger sales.

They report:

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The Salt
9:20 am
Mon September 24, 2012

Getting A More Svelte Salmon To Your Dinner Plate

An Atlantic salmon leaps while swimming inside a farm pen near Eastport, Maine. Studies show farm-raised fish, like people, benefit from exercise.
Robert F. Bukaty AP

Originally published on Mon September 24, 2012 3:01 pm

When it comes to farm raised fish, it doesn't pay to let them be lazy. Fish like wild salmon, tuna and eel are built for the vigorous swimming required during migration.

These fish are "uniquely adapted to a physiology of high levels of exercise performance," says Tony Farrell, who studies fish physiology in the University of British Columbia Zoology department. "Therefore when we put them in constrained environments and remove predators, the consequences are they become a little more like couch potatoes."

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The Two-Way
5:39 am
Mon September 24, 2012

'Amazing Scene' As Riot Shuts Foxconn Plant In China

Workers at a Foxconn plant in Shenzhen, China, in 2010.
AFP/Getty Images

Originally published on Mon September 24, 2012 7:01 am

  • NPR's Frank Langfitt talks with Steve Inskeep on 'Morning Edition'

At one point overnight as many as 2,000 workers at a Foxconn plant in Taiyuan, China, were involved in a riot that drew 5,000 police officers to the site and has closed the facility that makes parts for Apple's iPhones and hardware for other companies including Microsoft and Hewlett-Packard.

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Election 2012
3:07 am
Mon September 24, 2012

'60 Minutes' Airs Obama, Romney Interviews

Originally published on Tue September 25, 2012 7:08 am

Transcript

DAVID GREENE, HOST:

OK. So, all those political ads are on the air. Last night, the candidates themselves were on the air. They did interviews on the same CBS program, "60 Minutes." NPR's David Schaper was watching.

DAVID SCHAPER, BYLINE: After a week in which his campaign was on the defensive, Romney told "60 Minutes" he remains confident.

(SOUNDBITE OF TV SHOW, "60 MINUTES")

MITT ROMNEY: I'm going to win this thing.

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NPR Story
2:48 am
Mon September 24, 2012

Business News

Originally published on Mon September 24, 2012 9:10 am

Transcript

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news begins with a media divorce.

Village Voice Media Holdings, the company that publishes the newspaper of the same name, is breaking up with its controversial advertising service. Backpage.com has been accused of facilitating sex trafficking, and activists have been pressuring the Village Voice to shut down its adult classifieds service - so the company is splitting up its portfolio.

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NPR Story
2:48 am
Mon September 24, 2012

The Last Word In Business

Originally published on Mon September 24, 2012 9:10 am

Transcript

STEVE INSKEEP, HOST:

The Dow Jones industrial average may be the most famous barometer of stock market sentiment. It's not a broad measure. Only 30 stocks are in the Dow and this elite group of big blue chip companies supposedly represents the health of the U.S. economy. So, it is noteworthy when a company is kicked off the Dow or allowed in.

DAVID GREENE, HOST:

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Presidential Race
1:26 am
Mon September 24, 2012

Ads Slice Up Swing States With Growing Precision

Originally published on Tue September 25, 2012 7:08 am

First of a two-part series

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All Tech Considered
1:23 am
Mon September 24, 2012

Employee Shopping: 'Acqui-Hire' Is The New Normal In Silicon Valley

A Google logo is seen through windows of Moscone Center in San Francisco during Google's annual developer conference, Google I/O, in June. Google is one of several major tech companies known for the "acqui-hire."
AFP AFP/Getty Images

Originally published on Tue September 25, 2012 7:08 am

Tech companies like Google, Facebook and Zynga are on a shopping spree. They're buying small startups with innovative products and apps. But, many times, the tech giants don't care about what the small companies were producing. They just want the engineers.

There's a new name for these deals: the "acqui-hire," and it could mean the end to your favorite app.

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Asia
3:38 am
Sun September 23, 2012

McDonald's In India: Would You Like Paneer On That?

The McAloo Tikki will be available at the forthcoming vegetarian-only McDonald's restaurants in India.
AP

Originally published on Mon September 24, 2012 3:22 pm

When you walk into a McDonald's in India, it doesn't feel that much different from one in the U.S. That is, until you try to order.

When McDonald's first came to India 15 years ago, it ditched the Big Macs and Quarter Pounders to try to fit in in a country where cows are sacred and most people frown on eating beef. The chain tried re-creating its American classics with lamb, but it was a flop.

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NPR Story
5:14 am
Sat September 22, 2012

U.S. Border Industry Grows As Immigration Slows

Originally published on Sat September 22, 2012 8:35 am

Transcript

SCOTT SIMON, HOST:

It's been more than a quarter century since the federal government enacted any immigration legislation which wasn't about enforcement and over that time, the government has spend hundreds of billions of dollars on fences, aircrafts, detention centers and agents. NPR's Ted Robbins looks at what taxpayer money has bought and why it's not likely to go away, even as budgets shrink and illegal immigration lessens.

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Europe
3:34 am
Sat September 22, 2012

'Time Banks' Help Spaniards Weather Financial Crisis

Unemployment is rampant in Spain and full-time jobs are scarce. Here a woman works at a street stall in Madrid. Some Spaniards are signing up for "time banks," where individuals perform services based on their skills, and receive another service in return. No money changes hands. A woman is shown here working at a street stall in Madrid.
Oli Scarff Getty Images

Originally published on Sat September 22, 2012 8:35 am

After saving money for years, Lola Sanchez was finally able to buy a car refitted with a ramp and space for a wheelchair in the back for her teenage son, who has cerebral palsy.

A nurse used to come each day to help with her son's care. That service was cut amid government austerity measures, though Sanchez still gets a small check every month.

"What I need is physical help, even more than financial assistance," Sanchez says, "because I can't physically lift him on my own."

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The Two-Way
4:34 pm
Fri September 21, 2012

Kickstarter Says It 'Is Not A Store' As It Revises Policy On Projects' Risks

A screengrab shows three highly funded Design projects currently on Kickstarter's site. The company's founder say they will require more information about the challenges potential entrepreneurs could face.
NPR

Originally published on Fri September 21, 2012 9:06 pm

Even as it has received praise for bringing innovative ideas to life, Kickstarter has been criticized for allowing creators to be a little fuzzy about their plans — and for providing little recourse to investors who become unsatisfied with the project they've supported. The site has now announced changes that it hopes will ease those troubles.

The biggest change is a new section called "Risks and Challenges," which requires potential entrepreneurs to list the obstacles they face, and how they plan to deal with them.

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The Salt
12:21 pm
Fri September 21, 2012

Juice Maker Helps Tight End Block Thieving Teammates

Niles Paul (right) at a Redskins practice with then-teammate Tim Hightower, before the juice-stealing incidents came to light.
Carolyn Kaster AP

Originally published on Fri September 21, 2012 2:58 pm

Niles Paul had a problem. The second-year tight end for the Washington Redskins couldn't stop his teammates from stealing his Capri Sun. You know, Capri Sun — those sugary-sweet packets of juice that come in triangular foil containers with their own straws attached.

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The Two-Way
7:49 am
Fri September 21, 2012

Another iPhone, Another Day Of Long Lines And Big Hype

In Tokyo today, a customer on line for the iPhone 5 was wearing a Steve Jobs mask.
Yoshikazu Tsuno AFP/Getty Images

Originally published on Fri September 21, 2012 8:51 am

It's a "now familiar global ritual," as The Associated Press says: Apple fans are lining up today at stores "from Sydney to Paris to pick up the tech juggernaut's latest iPhone."

That would be the iPhone 5, which the company unveiled earlier this month.

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Business
4:04 am
Fri September 21, 2012

Want An iPhone 5 But Don't Want To Stand In Line?

Originally published on Fri September 21, 2012 5:08 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is: Why wait?

American consumers will likely go to great lengths - and stand in lines of great lengths - to get the iPhone 5, which goes on sale today.

STEVE INSKEEP, HOST:

People are lining up in front of Apple stores already. But this is a market economy, after all, and time is money, which explains why some people are paying others to stand in line for them.

IAN DEBORHA: I'm getting paid $55 for four hours.

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Business
4:04 am
Fri September 21, 2012

Trulia's IPO Tests Appetite For Tech Start-Ups

Originally published on Fri September 21, 2012 1:47 pm

Transcript

STEVE INSKEEP, HOST:

The real estate website Trulia is successfully riding the housing recovery, and has just gone public. After one day of trading, the San Francisco-based company is valued at well over half-a-billion dollars.

From our member station KQED, Aarti Shahani reports this is seen as a boost for the tech sector after Facebook's shaky plunge into the stock market.

(SOUNDBITE OF CAR DOOR SLAMMING)

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Business
4:04 am
Fri September 21, 2012

Are New Rules Needed For High-Speed Stock Trading?

On Capitol Hill, some members of Congress are asking whether new rules are needed to reign in high-speed stock market trading. Democratic Senator Jack Reed told a conference of traders that there is enough evidence to warrant a closer look.

Planet Money
2:10 am
Fri September 21, 2012

The Downside Of Tax Havens? Paperwork.

Unbelizable and Delawho? company documents, along with our official company stamp.
Lam Thuy Vo NPR

Originally published on Fri September 21, 2012 1:44 pm

We were curious how hard it would be to set up an offshore company, so this summer we bought two. We at Planet Money are now the proud owners of "Unbelizable Inc." in Belize and "Delawho? LLC" in Delaware. The whole process was quick and easy.

At least that's how it seemed at first — until we got an email from David Buckley, a tax lawyer at Rogin Nassau, telling us we had just walked into an IRS sinkhole.

Buckley described it as "a minefield of U.S. tax obligations," and he said he was worried about me. (The companies are in my name.)

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All Tech Considered
1:15 pm
Thu September 20, 2012

Electronic Pull-Tab Gambling Hits The iPad In Minnesota Bars

Booths that sell paper pull-tab games like this one have new competition in Minnesota: electronic pull-tab games played on iPads. The games are meant to help pay for a new football stadium in Minneapolis.
Jim Mone AP

Originally published on Thu September 20, 2012 2:30 pm

Minnesota gamblers no longer have to rip paper pull-tabs to see if they've won cash: As of this week, they can use iPads to play, and play again, at the click of a button. The venture was sparked by the need to help pay for a new Minnesota Vikings football stadium, which will cost an estimated $975 million.

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Author Interviews
12:46 pm
Thu September 20, 2012

A Close Look At Your Bills' 'Fine Print'

Originally published on Thu September 27, 2012 12:20 pm

Americans are paying high prices for poor quality Internet speeds — speeds that are now slower than in other countries, according to author David Cay Johnston. He says the U.S. ranks 29th in speed worldwide.

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