Business

Business
2:53 pm
Wed May 23, 2012

Facebook Underwriters Sued For Hiding Information

Originally published on Wed May 23, 2012 5:22 pm

Shares of Facebook on Wednesday made up a little of the ground they've lost since the company's troubled stock offering last week. But the company and its lead underwriter, Morgan Stanley, still face a lot of legal problems.

Some of the investors who bought shares of the company filed a lawsuit alleging that the two companies concealed information about Facebook's expected performance.

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The Two-Way
2:27 pm
Wed May 23, 2012

HP Will Cut 8 Percent Of Workforce Or 27,000 Jobs

Originally published on Wed May 23, 2012 2:49 pm

As part of what it calls "a multi-year restructuring," Hewlett-Packard announced it was cutting 27,000 jobs or 8 percent of its workforce.

HP said the cuts would happen over an extended period and should be done by the end of 2014.

"The restructuring is expected to generate annualized savings in the range of $3.0 to $3.5 billion exiting fiscal year 2014, of which the majority will be reinvested back into the company," the company said in a statement.

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The Salt
1:27 pm
Wed May 23, 2012

Many Americans Say Doing Taxes Is Easier Than Eating Right

Filing your taxes may be a dreaded task. But eating healthy can be an even bigger struggle for many Americans.

According to the results of a new survey of more than 1,000 Americans, almost half of us think its harder to eat right than do our taxes. And genderwise, 55 percent of men say it's harder to figure out what you should be eating than it is to figure out how to do your own taxes. For women, it's slightly lower, at 48 percent. The survey comes from the folks at the International Food Information Council Foundation.

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The Salt
10:27 am
Wed May 23, 2012

Sodexo's Beef With Food Certification Programs

Think these labels we found on foods inside an NPR refrigerator are a lot to digest? Try balancing these considerations with the demands of 50 million diners a day.
Maggie Starbard NPR

Originally published on Wed May 23, 2012 10:42 am

Surely you've noticed the proliferation of certifications advertising farmers' and food companies' virtuous commitments to fix the environment or promote health. These seals can reassure, but the sheer volume of them can also confound. How to choose between grass-fed, organic, hormone-free or free range?

Now imagine that you have to feed 50 million people a day in 80 countries around the world. And every day more of those people are demanding that the food you serve them be organic, gluten-free, or fair trade.

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The Two-Way
8:34 am
Wed May 23, 2012

Wall Street Titans, Behaving Badly

Television correspondent Sabrina Quagliozzi reports from inside the Nasdaq MarketSite in New York's Times Square on Monday.
Richard Drew AP

Originally published on Wed October 29, 2014 10:02 am

The pillars of Wall Street are shaking.

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Business
2:41 am
Wed May 23, 2012

CBO Report: U.S. Economy Could Slide Into Recession

The Congressional Budget Office is warning the U.S. economy could fall back into a recession if Washington doesn't address the looming fiscal crisis. The Bush-era tax cuts are supposed to expire as is a temporary reduction in the payroll tax. Meanwhile, deep cuts in federal spending are supposed to take place if Congress and the White House can't agree on a debt-reduction plan.

Around the Nation
2:41 am
Wed May 23, 2012

VA Offers Training To Clergy To Minister To Vets

Originally published on Wed May 23, 2012 3:00 am

Veterans dealing with the trauma of war will often turn to a priest or pastor of their church for guidance before going to a mental health professional. Experts say that type of support can be especially important in rural areas that aren't near a VA medical center.

NPR Story
2:27 am
Wed May 23, 2012

The Last Word In Business

Originally published on Wed May 23, 2012 4:22 am

Gucci sued Guess over trademark infringement, citing multiple cases of designs it claimed were "studied imitations of Gucci trademarks

Around the Nation
1:38 am
Wed May 23, 2012

Fight Over Flame Retardants In Furniture Heats Up

More than 80 percent of furniture sold in the U.S. is treated with flame-retardant chemicals.
Steve Mullis/NPR

Originally published on Wed May 23, 2012 2:41 am

If you pick up a cushion from any sofa or piece of furniture that has foam, you're likely to find a small white tag that reads: "This article meets all flammability requirements of California Bureau of Home Furnishings technical bulletin 117."

The law, referred to as TB 117, was passed in California in 1975. It says that the foam inside upholstered furniture must be able to resist a flame, such as from a cigarette lighter or a candle. Rather than make different furniture just for California, big furniture makers adhere to those standards in all 50 states and even Canada.

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Business
1:36 am
Wed May 23, 2012

Xerox CEO: 'If You Don't Transform, You're Stuck'

Xerox CEO Ursula Burns began her career with the company in 1980 as a summer intern. In 2009, she became the first African-American woman to lead a Fortune 500 company.
J. Scott Applewhite AP

Originally published on Wed May 23, 2012 6:14 am

Xerox is one of America's most venerable companies. Founded in 1906, its name is virtually synonymous with "photocopy."

But in recent years, in an era of email and paperless offices, Xerox has struggled to stay relevant. Today, the company is trying to turn itself around and thrive in the digital age.

Leading Xerox through that transformation is Ursula Burns, a woman who has undergone tremendous change in her own life. Burns, 53, grew up in New York City's Lower East Side, an area she has described as a tough, drug-infested ghetto.

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Politics
1:25 am
Wed May 23, 2012

U.S. Politicians See Opposite Messages In Euro Crisis

President Obama talks to German Chancellor Angela Merkel, French President Francois Hollande (upper left), NATO Secretary-General Anders Fogh Rasmussen (center) and other leaders during the official photo at Soldier Field in Chicago during the NATO summit Sunday.
Jim Watson AFP/Getty Images

Originally published on Wed May 23, 2012 6:41 am

European stock markets have rallied in anticipation of an informal summit of European Union leaders Wednesday in Brussels. A major policy pivot is expected to address the eurozone's debts and deficits crisis.

Up to now, European leaders have emphasized austerity, and that has cost some of them their jobs. The new approach is likely to focus on the same kind of growth President Obama has pursued in the United States — where Democrats and Republicans are drawing opposite conclusions from the euro crisis.

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Mongolia Booms
1:21 am
Wed May 23, 2012

Mongolians Scramble For A Share Of Mining Wealth

Tseren-ochir is a superintendent at Oyu Tolgoi mine who goes by the name "Augie" because it's easier for the foreigners he works with to pronounce. He is overseeing workers digging a nearly 5,000-foot-deep shaft down to reach the copper ore.
John W. Poole NPR

Originally published on Wed May 30, 2012 3:18 pm

Mongolia, the land of Genghis Khan and nomadic herders, is in the midst of a remarkable transition. Rich in coal, gold and copper, this country of fewer than 3 million people in Central Asia is riding a mineral boom that is expected to more than double its GDP within a decade. The rapid changes simultaneously excite and unnerve many Mongolians, who hope mining can help pull many out of poverty, but worry it will ravage the environment and further erode the nation's distinctive, nomadic identity.

Third of four parts

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The Salt
4:09 pm
Tue May 22, 2012

Judge Sours On POM Wonderful's Erectile Dysfunction & Heart Disease Claims

POM Wonderful

Originally published on Wed May 23, 2012 6:42 am

Pom Wonderful Pomegranate products may be loaded with antioxidants, but there's not sufficient evidence that it can treat, prevent, or reduce the risk of specific conditions such as heart disease or erectile dysfunction according to a ruling handed down by Chief Administrative Law Judge Michael Chappell.

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Space
2:42 pm
Tue May 22, 2012

SpaceX Launch Signals New Era In Spaceflight

Originally published on Tue May 22, 2012 3:50 pm

A company called SpaceX has put an unmanned capsule into orbit, on the first-ever commercial mission to deliver cargo to the international space station. If successful, the mission will be a key step towards NASA's goal of privatizing space travel to the orbiting outpost.

Space
2:42 pm
Tue May 22, 2012

Although Private, SpaceX Still Involved With NASA

Originally published on Tue May 22, 2012 3:50 pm

Robert Siegel talks to Andy Pasztor, aerospace reporter for the Wall Street Journal, about the business model for SpaceX.

Business
2:42 pm
Tue May 22, 2012

Facebook Stock Continues Tumble After IPO

Originally published on Tue May 22, 2012 3:50 pm

Facebook shares fell again on Tuesday — dropping almost 9 percent after falling 11 percent on Monday. It makes Facebook's initial public offering one of the worst performing IPOs of the past five years.

Around the Nation
2:28 pm
Tue May 22, 2012

R.I. Strikes Out On Ex-Pitcher's Video Game Venture

Former Boston Red Sox pitcher Curt Schilling had to push through a mob of reporters on Monday after meeting with Rhode Island officials to discuss the finances of his troubled video game company and ask for more state help.
Steven Senne AP

Originally published on Thu May 31, 2012 8:04 am

In 2004, pitcher Curt Schilling became a New England folk hero. That's the year he helped the Boston Red Sox beat their archrival, the New York Yankees, by pitching with a surgically repaired ankle. And when that wound started to bleed, his bloody sock also became legend.

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Business
9:46 am
Tue May 22, 2012

How Much Can Potential Employers Ask About You?

Massachusetts lawmakers tried and failed to pass legislation that would have required criminal history checks, urine screening and fingerprinting and photographs of all new hires at the state Gaming Commission.
iStockphoto.com

Originally published on Tue May 22, 2012 12:03 pm

Everyone knows it's tough to get a job these days. The task is that much harder if you have any kind of blemish on your past.

The use of background checks to screen potential employees has become a billion-dollar business. More than 90 percent of employers in the U.S. conduct criminal background checks, at least on some potential hires, according to a recent study by the National Consumer Law Center.

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The Two-Way
9:26 am
Tue May 22, 2012

Facebook's Stock: What Should It Cost?

Emmanuel Dunand AFP/Getty Images

Originally published on Tue May 22, 2012 2:08 pm

As the downward pressure continues on the price of Facebook's newly issued shares, let's see what our collective financial wisdom tells us.

The initial public offering was priced at $38 a share. After technical snafus on Friday, and only thanks to lots of help from Facebook's bankers, that's about where the stock settled its first day.

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Business
3:36 am
Tue May 22, 2012

Prosecutor Links Rajat Gupta To Raj Rajaratnam

The insider trading trial of Rajat Gupta is underway in New York. Gupta is a former Goldman Sachs board member, who prosecutors say provided inside information to hedge fund manager Raj Rajaratnam. Gupta's lawyer told the jury that the case against his client was based on guesswork and speculation.

Election 2012
3:36 am
Tue May 22, 2012

Obama Camp Hammers Away At Bain Capital Issue

The Obama campaign continues its attack on Mitt Romney's time at the private-equity firm Bain Capital. Over the weekend, Newark, New Jersey, Mayor Cory Booker seemed to veer off the campaign's message. Later, Booker tempered his remarks in a YouTube video. But it didn't take long for the Romney campaign to seize on Booker's comments.

Economy
3:36 am
Tue May 22, 2012

Opposition To Austerity Sweeps Ireland

Originally published on Tue May 22, 2012 4:12 am

A mass tax revolt is under way in Ireland, and hundreds of thousands of people have resolved to break the law and refuse to pay a newly-introduced levy on households. The tax is $125 a year, but protesters say it could lead to larger property taxes in the future.

Author Interviews
3:36 am
Tue May 22, 2012

'Road To Freedom': Moral Debate For Free Enterprise

Originally published on Tue May 22, 2012 4:48 am

Transcript

STEVE INSKEEP, HOST:

Economic issues are shaping this year's presidential campaign, as we're hearing in this morning's news. Arthur C. Brooks, of the American Enterprise Institute, says that debate involves more than money. It's a question of which economic policies are morally right.

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NPR Story
3:14 am
Tue May 22, 2012

The Last Word In Business

Originally published on Tue May 22, 2012 4:44 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is: a last song.

(SOUNDBITE OF SONG, "CELEBRATE")

WHITNEY HOUSTON AND JORDIN SPARKS: (Singing) Everybody's been so uptight, and forgetting to live the life.

RENEE MONTAGNE, HOST:

This final recording by the 1980s and '90s pop star, Whitney Houston, was released yesterday. "Celebrate" debuted on Ryan Seacrest's radio show.

(SOUNDBITE OF SONG, "CELEBRATE")

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Europe
1:24 am
Tue May 22, 2012

Spain's Beloved Four-Day Weekends Are At Risk

People relax at a beach in Barcelona, Spain, on a Monday last summer. Many Spanish workers are upset that some traditional four-day holiday weekends might be scaled back to just three days.
Manu Fernandez AP

Originally published on Tue May 22, 2012 3:36 am

One of the perks of living in Europe is the generous vacation schedule. But the austerity moves across the continent could be changing that, at least in some places. Portugal, for example, recently cut four of its 14 annual holidays.

And Spain is shuffling its calendar to shorten extended weekends — something the prime minister says it can no longer afford. The change could mean the loss of a celebrated tradition: the four-day weekend.

A Holiday For Bullfighting

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Asia
1:21 am
Tue May 22, 2012

Mongolia's Dilemma: Who Gets The Water?

Amin-Erdene Galkhuu pumps well water to her family's Bactrian camels in Mongolia's South Gobi region. Herders and mining firms both need water in this arid area.
John Poole NPR

Originally published on Wed May 23, 2012 8:47 am

Mongolia, the land of Genghis Khan and nomadic herders, is in the midst of a remarkable transition. Rich in coal, gold and copper, this country of fewer than 3 million people in Central Asia is riding a mineral boom that is expected to more than double its GDP within a decade. The rapid changes simultaneously excite and unnerve many Mongolians, who hope mining can help pull many out of poverty, but worry it will ravage the environment and further erode the nation's distinctive, nomadic identity.

Second of four parts

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Business
1:16 am
Tue May 22, 2012

Time To Move Grandma: What To Do With Her Home?

Frank Christian takes a break from packing in the dining room of his home in Glen Allen, Va., which he co-owned with his mother. The family recently sold the home in order to free up money for Ida's care.
Kainaz Amaria NPR

Originally published on Tue May 29, 2012 7:04 am

Making the decision to move a parent out of the homestead can hurt.

The house may be full of good ghosts and happy memories. But it also has too many steps and too much lawn to mow. So the time comes to pack up and move on.

A decade ago, at least one part of that transition wasn't so tough. When the for-sale sign went up, an eager buyer was likely to show up with a good offer. But today, families are facing a much more difficult real estate environment.

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Movies
2:42 pm
Mon May 21, 2012

AMC Deal Signals Hollywood's New Bond With China

Originally published on Mon May 21, 2012 6:21 pm

China's Dalian Wanda Group and AMC Entertainment announced a deal on Monday for Wanda to take over the U.S.-based AMC theater group. The companies say it would be the world's largest cinema chain. It's the latest in a string of deals between Hollywood and Chinese companies.

Business
2:42 pm
Mon May 21, 2012

SEC's Investigation Unit 'Outgunned, On A Roll'

Originally published on Mon May 21, 2012 6:21 pm

Transcript

AUDIE CORNISH, HOST:

In New York, the federal trial of a former Goldman Sachs board member got underway today. Rajat Gupta has been accused of leaking stock secrets to a business associate who ran one of the world's largest hedge funds, the Galleon Group. That associate, Raj Rajaratnam, is now serving an 11-year prison term for insider trading.

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Technology
2:42 pm
Mon May 21, 2012

Tech Look Ahead: HP Layoffs, Google Gets Motorola

Originally published on Mon May 21, 2012 6:21 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish. And it's time now for All Tech Considered.

(SOUNDBITE OF MUSIC)

CORNISH: In this week's Look Ahead, Hewlett-Packard will announce its restructuring plan Wednesday when the company reports its quarterly earnings. NPR's technology correspondent, Steve Henn, says part of that plan could include massive layoffs.

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