Business

Business
2:48 am
Tue July 17, 2012

Investigation: HSBC Laundered Drug Money

Originally published on Tue July 17, 2012 10:17 am

Transcript

STEVE INSKEEP, HOST:

An apology from a giant bank is at the top of NPR's business news.

(SOUNDBITE OF MUSIC)

Shots - Health Blog
1:05 am
Tue July 17, 2012

Deciding On Truvada: Who Should Take New HIV Prevention Pill?

Kevin Kirk (left) and James Callahan have been together for more than five years. Recently they sat down and talked about whether Kevin, who is HIV-negative, might want to start taking Truvada.
Richard Knox NPR

Originally published on Sat July 28, 2012 9:05 am

There's something new to prevent HIV infections.

The Food and Drug Administration on Monday approved a once-a-day pill that can drastically lower a person's risk of getting the virus that causes AIDS.

It's called Truvada — the first HIV prevention pill.

It's not cheap — around $13,000 a year — and it's not clear what insurers will pay for it. And there's worry that people taking the pill might relax safe-sex precautions.

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Economy
1:00 am
Tue July 17, 2012

Romney's Plan To Revive Jobs Has Mixed Results

Republican presidential candidate Mitt Romney speaks about job numbers July 6 at Bradley's Hardware in Wolfeboro, N.H.
Charles Dharapak AP

Originally published on Tue July 17, 2012 3:10 pm

Republican presidential candidate Mitt Romney says he can do better than President Obama at finding jobs for unemployed Americans. One way he would do that is by bringing back personal re-employment accounts.

When people lose their jobs, one of the first places they turn to is their state unemployment office, where they can sign up for unemployment benefits; they often can enroll in some kind of retraining class as well.

In 2004, the Bush administration conducted an experiment to begin privatizing a small part of the federal retraining program.

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Remembrances
5:03 pm
Mon July 16, 2012

Stephen Covey's 'Habits' Spanned Business, Life

Covey, a motivational speaker, died Monday in Idaho three months after a serious bicycle accident in Utah. He was 79.
Ric Feld AP

Originally published on Mon July 16, 2012 5:57 pm

Stephen Covey, the management and self-help guru who wrote The 7 Habits of Highly Effective People, has died. He was 79.

Covey's family said the writer and motivational speaker died at a hospital in Idaho Falls, Idaho, early Monday from complications caused by a bicycle accident in April.

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All Tech Considered
3:55 pm
Mon July 16, 2012

In-Q-Tel: The CIA's Tax-Funded Player In Silicon Valley

Infinite Z, a tech company funded by the CIA's venture capital fund In-Q-Tel, has developed 3-D imaging technology that allows users to interact with holographic images.
Courtesy of Infinite Z

Originally published on Tue July 17, 2012 3:13 pm

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The Two-Way
3:46 pm
Mon July 16, 2012

Yahoo Appoints Marissa Mayer, A Longtime Google Exec, As CEO

Marissa Ann Mayer gestures as she gives an interview in January of 2008.
Oliver Lang AFP/Getty Images

Yahoo is turning to a longtime Google executive to try to turn around the ailing company. Effective tomorrow, Marissa Mayer will be Yahoo's new chief executive. She will be the fifth CEO in as many years.

According to Yahoo's press release, Mayer was one of Google's first employees and most recently she was responsible for the company's local, maps and location services.

Mayer's job, reports the AP, is to help the company "rebound from financial malaise and internal turmoil."

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Business
3:31 pm
Mon July 16, 2012

For Jobs, Some Young Lawyers Are Keepin' It Rural

Attorney John Pabst, 66, does not have an associate ready to take over his practice in Albia, Iowa, after he retires. He is mentoring a law school student who is interning with him this summer with hopes the young attorney will decide to move to the area.
Sarah McCammon For NPR

Originally published on Wed July 18, 2012 7:42 am

Plenty of young aspiring lawyers dream of landing a job at a high-powered, big-city firm after graduation. So an internship in a sleepy, rural town might not sound like a dream summer job. But that's just what three law schools in Iowa and Nebraska are encouraging their students to consider.

With recent law school grads facing mountains of debt and one of the worst job markets in decades, practicing law in smaller towns is becoming more attractive for some young lawyers.

Kicking The Tires

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Business
2:54 pm
Mon July 16, 2012

Billionaire Adelson Under Fire For Macau Dealings

Originally published on Mon July 16, 2012 4:22 pm

Robert Siegel talks to Lowell Bergman about a ProPublica investigation into billionaire and Republican political contributor Sheldon Adelson. There are concerns that Adelson may have violated the Foreign Corrupt Practices Act in his payments to a Macau lawyer who represented his firm's interests in the booming gambling capital. Bergman co-reported the story with Stephen Engelberg and Matt Isaacs for the Investigative Reporting Program of the University of California at Berkeley and PBS Frontline.

Economy
2:09 pm
Mon July 16, 2012

Call Me Maybe When Your School Loan Is Paid In Full

Some young adults say their student loan debt affects their dating and marriage potential. A few have had partners break up with them over debt, while other couples forge ahead, but keep finances separate and avoid legal marriage.
iStockphoto.com

Originally published on Tue July 17, 2012 3:12 pm

The increasing debt load of college graduates has affected young people's lives in untold ways, from career choices to living arrangements. Now add another impact on a key part of young adult life: dating and marriage.

Rachel Bingham, an art teacher in Portland, Maine, learned this a few years back, when a guy broke it off after four months of a budding relationship. Among other reasons, he cited her $80,000 in student loan debt.

"He said it scared him," she recalls, "that it really made him anxious. And he just did not want to take on my responsibility."

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Planet Money
1:02 pm
Mon July 16, 2012

What Americans Earn

Lam Thuy Vo / NPR

Originally published on Mon July 16, 2012 1:29 pm

With all the talk about what to do with the Bush tax cuts — and whether they should be extended for no one, everyone, or everyone under a certain income cutoff — we thought it made sense to check in on how much Americans actually make.

Roughly $50,000. That's how much the median households makes in income and benefits per year. In other words, half of American households made less than $50,000 and half made more.

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The Salt
12:53 pm
Mon July 16, 2012

Coney: The Hot Dog That Fed Detroit's American Dream

Patrons pack in at American Coney in this undated photo. 1942
Courtesy Grace Keros

Originally published on Fri October 26, 2012 10:18 am

Take a hot dog from New York's famed Coney Island, throw in plenty of Greek immigrants and a booming auto industry, add some chili sauce, a steamed bun, chopped onions, mustard and an epic sibling rivalry and you've got the makings of a classic American melting pot story.

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Planet Money
11:25 am
Mon July 16, 2012

Rethinking Free Tuition, College May Risk Reputation

Cooper Union for the Advancement of Science and Art in New York City.
Library of Congress

Our show on Friday told the cautionary tale of the Red Cross, and how it earned the lasting suspicion of World War II veterans when it temporarily charged for once-free doughnuts.

Uri Simonsohn, a University of Pennsylvania business professor, chalked it up to "categorical change" — and the sense of betrayal veterans felt when they saw a fundamental shift in the very nature of their relationship with the Red Cross.

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The Two-Way
10:54 am
Mon July 16, 2012

Perk Of Being Rich: Facebook's Zuckerberg Pays 1 Percent Interest On Mortgage

Mark Zuckerberg, right, and Andrew Houston, founder and chief executive of Dropbox, wait in a parked car for the traffic to clear out at the Sun Valley Lodge during the Allen & Company Sun Valley Conference last week.
Kevork Djansezian Getty Images

Last Thursday, the interest rate on 30-year mortgages dipped to its lowest level ever: 3.56 percent.

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Economy
9:48 am
Mon July 16, 2012

AFSCME: Attacks On Public Sector Harm Middle Class

The American Federation of State, County and Municipal Employees, one of the country's largest unions, is facing a difficult climate. Local governments are slashing employee pensions and state governments are considering measures to curb collective bargaining rights. Host Michel Martin talks with Lee Saunders, AFSCME's new president.

Planet Money
7:59 am
Mon July 16, 2012

How A Bloated Wall Street Can Hurt Growth

Helping or hurting the economy?
Bebeto Matthews AP

We all know an out-of-control financial sector can cause acute and long-lasting problems, thanks to the recent financial crisis. But is there also a more chronic drag on the economy when the finance crowd gets too thick?

One recent paper (PDF) suggests so, and tries to quantify just how much a bloated financial sector can hurt economic growth.

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The Two-Way
6:49 am
Mon July 16, 2012

Retail Sales Dip For Third Straight Month, But Are Still Up From Year Earlier

The bad news: Retail sales fell 0.5 percent in June from May, the Census Bureau says. It's the third straight month that sales have been down from the month before.

But, Census adds that June sales were 3.8 percent above the pace of June 2011. And, "sales for the April through June 2012 period were up 4.7 percent ... from the same period a year ago."

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The Two-Way
5:29 am
Mon July 16, 2012

Here's A Scoop: When News Breaks, People Check YouTube For Videos

Russia Today

Originally published on Mon July 16, 2012 6:23 am

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Business
2:30 am
Mon July 16, 2012

Mitsubishi, Suzuki, Mazda Struggle In U.S Market

Originally published on Wed July 18, 2012 2:40 pm

Transcript

STEVE INSKEEP, HOST:

The recession came close to killing off some of the American automakers. Now in a slow recovery, the American companies are doing better. Japanese car companies, some of them, are struggling - in particular some of the smaller Japanese automakers are facing trouble. NPR's Sonari Glinton looks at the fortunes of what are known as the Little Three.

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Business
2:30 am
Mon July 16, 2012

Business News

Originally published on Mon July 16, 2012 5:20 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with Microsoft's moves in the news business.

(SOUNDBITE OF MUSIC)

NPR Story
2:27 am
Mon July 16, 2012

The Last Word In Business

Originally published on Mon July 16, 2012 5:25 am

Transcript

STEVE INSKEEP, HOST:

And let's stay in the land of milk and honey, because our last word in business takes us to a barnyard venture that is solving to very old problems at once. The first is keeping unwanted plants out of a productive vegetable garden. The second, more existential problem is finding a suitable romantic partner. And the last word is weed dating.

RENEE MONTAGNE, HOST:

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NPR Story
2:27 am
Mon July 16, 2012

Romney Responds To Obama's Bain Capital Charges

Originally published on Mon July 16, 2012 5:04 am

Transcript

STEVE INSKEEP, HOST:

Until this past weekend, Romney generally ignored invitations to be interviewed, except on Fox News. Then on Friday night, he did a series of TV talks defending his work at Bain Capital.

NPR's media correspondent David Folkenflik was watching.

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Business
1:29 am
Mon July 16, 2012

In Bankruptcy, American Airlines Looks At All Options

Will American emerge from bankruptcy as a stand-alone airline, or will it merge with US Airways? An American spokesman says it's considering all options.
Matt Rourke AP

Originally published on Tue July 17, 2012 5:30 am

Imagine going into bankruptcy with billions of dollars in cash still in your bank account. That's what American Airlines did last November. The thinking was that management would gut the company's pensions and union contracts and emerge from bankruptcy ready to compete.

But then US Airways said it could take over American and be profitable, and it wouldn't have to hurt American's employees nearly as bad in the process. American's pilots, mechanics and flight attendants loved that idea.

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Business
1:26 am
Mon July 16, 2012

Bucking Bulls Draw Crowds, And Dollars

Bulls are judged with a "dummy" weight for four seconds to see how hard they will jump and twist to buck a rider. Bulls that do well can sell for up to $50,000.
Laura Ziegler KCUR

Originally published on Mon July 16, 2012 3:04 pm

The bucking bull has long been the embodiment of the American rodeo, and it takes just four seconds for a strong young bull to reap its owner as much as $50,000 in prize money.

Four seconds is how long each 1- or 2-year-old bull will wear a weight strapped to its back as the massive animal is judged on how high it kicks and how much it twists.

In the past 10 years, bucking bulls have become a major industry. The price of the best bloodlines can soar to $250,000, and competitions take place everywhere from Madison Square Garden to Wyoming.

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Economy
4:12 pm
Sat July 14, 2012

A Tale Of Two Cities: Too Many Jobs, Or Not Enough

Agriculture is a key job sector in Yuma, Ariz., where the seasonal workforce and migrant labor tend to boost the unemployment rate.
Jacob Lopez AP

Maria Arvizu continues to fill out job applications even though she has yet to deposit her last paycheck.

Arvizu, 53, relocated to Yuma, Ariz., to become a bus driver for the local school district last year. After school closed for summer break, she was caught off guard when she was laid off. She had expected to get another driving assignment and was denied collecting unemployment because she was still considered a school employee.

"I just keep looking for a job," Arvizu says.

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Energy
3:29 pm
Sat July 14, 2012

Miners Weather The Slow Burn Of Coal's Demise

Equipment for transporting and housing coal sits idle in Cowen, W.Va. Since the natural gas boom, several mines in Webster County have either slowed or shut down operation, laying off hundreds of workers.
Guy Raz NPR

Originally published on Sat July 14, 2012 6:21 pm

At some point today, you will probably flip on a light switch. That simple action connects you to the oldest and most plentiful source of American electricity: coal.

Since the early 1880s — when Edison and Tesla pioneered the distribution of electrical power into our homes — most of that power has come from the process of burning coal.

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Business
5:54 am
Sat July 14, 2012

$6B Deal Eases Credit Card Surcharge Restrictions

Originally published on Mon July 16, 2012 2:54 pm

Transcript

SCOTT SIMON, HOST:

Visa, MasterCard, some of the nation's other largest banks have agreed to a multibillion dollar settlement of a class action suit involving credit card transaction fees. Now, those are what merchants pay when you use plastic instead of cash. Retailers allege that the two largest payment networks conspired with the banks to keep so-called swipe fees high. NPR's Wendy Kaufman reports.

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Mitt Romney
3:49 am
Sat July 14, 2012

Bain, Bain, Go Away: In Defense, Romney Attacks

Mitt Romney appears on ABC News in one of the five TV interviews he did Friday. He mostly responded to comments from the Obama campaign about his role at Bain Capital.
ABC News

Originally published on Mon July 16, 2012 2:54 pm

Republican presidential candidate Mitt Romney sat for a hastily arranged flurry of TV interviews Friday, strongly denying he had any role in running Bain Capital at a time when, according to reports, the company invested in firms that outsourced jobs overseas.

He also called for an apology from President Obama for statements by his campaign that Romney said were beneath the dignity of the presidency.

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All Tech Considered
4:26 pm
Fri July 13, 2012

Apple's Change Of Heart On Green Certification

Attendees of Apple's 2012 World Wide Developers Conference look at the new MacBook Pro with Retina display.
Justin Sullivan Getty Images

Originally published on Fri July 13, 2012 8:24 pm

It's not often that one of the world's biggest companies says, "We goofed."

But in a surprising turn of events Friday, Apple admitted it made a mistake in pulling out of an environmental rating system for computers and other electronics. The company said it would rejoin the so-called EPEAT certification system, placing all 39 of its originally certified products back on the list. The company is also requesting certification for more products, including its new MacBook Pro model.

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Business
3:52 pm
Fri July 13, 2012

Documents Lift Veil On Bank-Rate-Rigging Scandal

Police wait for protesters to appear at a branch of Barclays Bank in London on July 4.
Olivia Harris Reuters/Landov

Originally published on Fri July 13, 2012 8:24 pm

As the financial crisis began to unfold in 2007, the New York Federal Reserve learned that some banks might have intentionally underestimated the rates they expected to pay for loans from other banks.

Documents the New York Fed released Friday, in response to a request from Congress, show that the banking regulator began to be concerned about the accuracy of LIBOR — or the London Interbank Offered Rate — late in 2007.

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Planet Money
3:48 pm
Fri July 13, 2012

What's It Mean That Romney Was CEO, Anyway?

Evan Vucci AP

Originally published on Mon July 16, 2012 7:47 am

Mitt Romney faces new scrutiny over his time at the helm of Bain Capital, the private equity shop he ran from 1984 until — well, that's exactly the question.

The political fight of the moment is just when Romney stopped running Bain Capital, which specialized in buying troubled companies and turning them around.

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