Business

Business news

A day after many sanctions on Iran were lifted under the international nuclear pact, the U.S. Treasury department has imposed new sanctions — over Iran's ballistic, not nuclear, weapons.

The sanctions target 11 companies and individuals who have been involved in procuring goods for Iran's weapons program, the Treasury Department says.

"This action is consistent with the U.S. government's commitment to continue targeting those who assist in Iran's efforts to procure items for its ballistic missile program," the department said in a statement.

Iranian Reaction To Implementation Day

Jan 17, 2016
Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

RACHEL MARTIN, HOST:

After being held for nearly 18 months in Iran, Washington Post reporter Jason Rezaian has been released along with four other Americans being held in Tehran.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

RACHEL MARTIN, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

MICHEL MARTIN, HOST:

The North American International Auto Show opened to the public today in Detroit. It's one of the biggest auto shows in America.

(SOUNDBITE OF ARCHIVED RECORDING)

UNIDENTIFIED MAN: The 2016 North American Car of the Year is the Honda Civic.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

SCOTT SIMON, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

SCOTT SIMON, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

SCOTT SIMON, HOST:

More Bad News For Coal Mine-Reliant States

Jan 16, 2016
Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

SCOTT SIMON, HOST:

In President Obama's State of the Union address, there was a line you might have missed, but it caught the ear of people in the energy industry.

(SOUNDBITE OF SPEECH)

On Friday, Wall Street traders got the same treatment as the main character in The Revenant: A big fearsome bear attacked again and again.

By the close, stock prices were badly mauled. The Dow Jones industrial average lost 2.4 percent of its value, tumbling 391 points to close at 15,988.

The S&P 500 index dropped 2.16 percent to 1,880 and the tech-heavy Nasdaq composite index lost 2.7 percent to 4,488.

Wal-Mart will shut down 269 stores to focus on other aspects of the business, including online sales, the company announced Friday. Among the shuttered stores will be 154 in the U.S.

From McDonald's to Costco, Big Food has been declaring a shift to buying only cage-free eggs.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

The company that owns the leaking natural gas well in Los Angeles understated the number of air samples showing higher-than-usual levels of benzene, The Associated Press reports.

Adding to concerns over the disaster, efforts to stop the leak appear to have destabilized the well, the Los Angeles Times reports, raising the risk of a blowout.

This day is starting out really nasty if you happen to be an oil driller — or a baby boomer who would like to retire with a nest egg.

Through the night and into the morning, the price of oil has been falling. You can now buy a barrel for less than $30. (Remember, it was nearly $115 as recently as June 2014.) The market for oil has been thrown into disarray because of worries about possible declining Chinese demand and surging Iranian supplies.

That means U.S. oil producers will continue to see their profits plunge and industry layoffs worsen.

Citing concerns over pricing and pollution, the Obama administration on Friday unveiled a moratorium on new coal leases on federal lands. The change won't affect existing leases, which generated nearly $1.3 billion for the government last year.

The Department of the Interior says it wants to make sure the money it's charging for coal leases takes into account both market prices and what's often called the "social costs" of coal — its impact on climate change and public health.

The agency says federal lands account for roughly 40 percent of all U.S. coal production.

Sales Of 'Most Wanted Shirt' Skyrocket

Jan 15, 2016
Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

DAVID GREENE, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Back in the '70s at auto shows across the country, you could find Anita Mitzel wearing an extravagant gown and reciting scripted monologues in front of a shiny Cadillac that would slowly spin on a turntable. All these years later, she can still recite them.

Money is a big motivator. And the prospect of a cash payoff in any sort of gamble is alluring — just think of the Powerball buzz this week.

So, what happens when financial incentives are tied to weight-loss goals? A growing body of evidence suggests that it's not necessarily a slam dunk.

Goldman Sachs will pay about $5 billion to resolve state and federal investigations into its handling of mortgage-backed securities in the years leading up to the 2008 financial crisis, the bank said today.

The secretive sale late last year of the Las Vegas Review-Journal, Nevada's largest news organization, to the family of one of the wealthiest men in the country set off shock waves in that newsroom.

The vast financial and political interests of the billionaire casino magnate and major Republican donor Sheldon Adelson raise nettlesome questions about how the paper can cover him.

In Fort Morgan, Colo., 150 Muslim workers were fired in late 2015 after a dispute over prayer breaks at a Cargill beef processing plant.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

It won't be long until passengers will be able to take a ferry to Cuba from Miami, an idea that would have been unthinkable just a few years ago in a city that's home to Cuban exiles who fled from the Castro regime. The Obama administration approved licenses last year to companies that want to run ferries to Cuba. Several are interested. Still, it came as a surprise last week when the port of Miami said it's considering building a new ferry terminal on land that had been slated for development.

Want to launder $20 million in illicit drug money? Buy a fancy penthouse in Miami with cash. It turns out, secretively purchasing luxury real estate is a popular way for the world's super-criminals to clean their dirty money.

"You can spend a lot of money to buy a house, and then you can sell that house a year later," says Heather Lowe, a lawyer with Global Financial Integrity. "And all of a sudden, all of that money is completely clean money." Her group tracks the transfer of illicit money out of developing countries.

Fair to say this was a brilliant day for Boston.

General Electric Co. announced on Wednesday that it will be moving its headquarters from Fairfield, Conn., to Boston, starting this summer.

That decision makes Boston the winner of an intense competition among dozens of cities — all hoping to become the hometown of one of the world's largest companies.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

ARI SHAPIRO, HOST:

Markets tumbled today, hard. It's a continuation of a recent rough patch on Wall Street. Already this year, both the Dow and the S&P are down more than 7 percent. NPR's Jim Zarroli joins us now to discuss the sour mood among investors. Hey, Jim

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

ARI SHAPIRO, HOST:

Al-Jazeera told its staff on Wednesday that it was shutting down its American network in April.

Financed by the ruling family of Qatar, Al-Jazeera America was launched in the summer of 2013 promising thoughtful, serious news coverage.

Pages