KRWG

Business

Please note: Sometimes, NPR publishes headlines before the story and/or audio is ready; check back for content later if this occurs. We also publish national/world news on our home page from AP, BBC, and others.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

What happens to a town when a key industry collapses?

Sometimes it dies. But sometimes it finds a way to reinvent itself.

Case in point: Ketchikan, Alaska, where the demise of the timber industry has led to a radical transformation.

Many people who used to earn their livelihoods through timber have now turned to jobs in tourism.

It's an identity shift that makes the city far different from what it was in the logging heyday.

"It was this boomtown!" says longtime Ketchikan resident Eric Collins. "It was just a crazy, wild frontier place."

A computer error is being blamed for putting Baltimore's baseball and NFL stadium into a tax sale queue, the city says. The unusual circumstances could have exposed Camden Yards and M&T Bank Stadium to possible foreclosure from winners of a tax sale of less than $70,000 in debt.

The stadiums, each of which is worth hundreds of millions of dollars, were ensnared by Baltimore's rule that puts owner-occupied properties into the tax sale if a delinquent account holder owes the city at least $750.

Updated at 2:30 p.m. ET

For years, Puerto Rico has grappled with an ever-mounting debt crisis, watching as its public-sector bills have grown to more than $70 billion. Including what the U.S. territory owes to pension funds, that debt exceeds $120 billion.

Now, Puerto Rico's struggle with its creditors has stepped into U.S. federal court, where an unprecedented debt-restructuring case opened with a hearing Wednesday.

Podcasts — everyone seems to have one. And more and more people are listening to them. At the same time, sales for audiobooks are growing faster than any other segment of the publishing industry.That got me wondering: Are podcasts helping to drive listeners to audiobooks? The answer, as it turns out, is more circular than that.

Play-by-play announcer Beth Mowins is set to become the first-ever female broadcaster to call an NFL game televised nationally.

A commentator for ESPN since 1994, she'll call the Los Angeles Chargers vs. Denver Broncos game in ESPN's opening Monday Night Football doubleheader on Sept. 11. Former Buffalo Bills and New York Jets head coach Rex Ryan will join her.

Over the weekend, China pledged tens of billions of dollars in infrastructure financing and development aid, and elicited support from scores of countries to promote economic integration and free global trade through the creation of what Beijing is calling a "new Silk Road."

Updated at 4:58 p.m. May 18 to update the status of an Ohio bill and to add the name of a group spearheading support for it.

Just like coal companies, America's nuclear power industry is having a tough time. It faces slowing demand for electricity, and competition from cheaper natural gas and renewables. And now, touting itself as a form of clean energy, the nuclear industry is lobbying state legislatures with a controversial pitch for help.

By latest counts, more than 200,000 computers in some 150 countries have been hit by a cyberattack using ransomware called WannaCry or WannaCrypt, which locked the data and demanded payment in bitcoin. The malware was stopped by a young U.K.

When's the last time you had a glass of cow's milk?

Americans are drinking a lot less milk than they used to. According to the U. S. Department of Agriculture, the average person drinks 18 gallons a year. Back in the 1970s it was more like 30 gallons a year. We once hoisted a glass with dinner, soaked our breakfast cereal or dipped into the occasional milkshake. This habitual milk drinking was no accident.

Rival Chicago newspapers are poised to come under the same ownership, after the parent company of the Chicago Tribune announced its intent to purchase the parent company of the Chicago Sun-Times.

Both newspapers have stressed that Chicago will remain a two-newspaper city, with the Sun-Times maintaining a separate newsroom that would operate independently.

President Trump has been saying in recent weeks that the Affordable Care act, or Obamacare, is "dead."

So he's threatened to cut off crucial payments to health insurance companies that help low-income customers pay day to day health care expenses.

That plan, however, may just end up bringing more people into the Affordable Care Act insurance markets.

The WannaCry ransomware that attacked computers in 150 countries has lines of code that are identical to work by hackers known as the Lazarus Group, according to security experts. The Lazarus hackers have been linked to North Korea, raising suspicions that the nation could be responsible for the attack.

Another day and another conflict with airline employees goes viral.

Cops have a decent shot at catching run-of-the-mill online scammers — say, the guy selling a car that's just too good to be true on Craigslist. But catching ransomware attackers is generally much more difficult — unless they slip up.

Updated at 10:20 a.m. ET

Donald Trump hadn't yet taken his oath as president when, last Dec. 21, he named Carl Icahn as "special adviser to the president on regulatory reform." He said Icahn would help him deal with "the strangling regulations that our country is faced with."

Investigators looking into the Trump campaign's ties to Russia will be able to pursue leads by tapping into a huge database of suspicious financial transactions maintained by the federal government.

Under the Bank Secrecy Act, financial institutions operating in the U.S. are supposed to inform the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, when they see transactions that indicate possible money laundering, such as all-cash purchases of expensive real estate.

President Trump has proposed big tax cuts for businesses and individuals — breaks that could reduce federal revenue by trillions of dollars. Economists and tax specialists say that unless they're paid for, the tax cuts could explode budget deficits and the national debt.

The prospect has prominent Republicans and Republican members of Congress worried.

A ransomware attack that began in Europe on Friday is lingering — and hitting new targets in Japan and China. The WannaCry software has locked thousands of computers in more than 150 countries. Users are confronted with a screen demanding a $300 payment to restore their files.

The cyberattack has hit more than 300,000 computers, White House homeland security adviser Tom Bossert said at Monday's midday White House briefing. He added that the rate of infection has slowed over the weekend.

It was 2 a.m. on a Sunday night in January 2016. Ben and Jerry's flavor guru, Kirsten Schimoler, had been at the ice cream plant in St. Albans, Vt., all weekend. Now she stood mesmerized in the wee hours as 180 cups of non-dairy almond "ice cream" whizzed past her every single minute.

When the National Security Agency lost control of the software behind the WannaCry cyberattack, it was like "the U.S. military having some of its Tomahawk missiles stolen," Microsoft President Brad Smith says, in a message about the malicious software that has created havoc on computer networks in more than 150 countries since Friday.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

DAVID GREENE, HOST:

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

RACHEL MARTIN, HOST:

After seven years of growth, the auto market is seeing weakness.

In April, sales were off by 4.7 percent. That's despite the continued robust sales of highly profitable SUVs and trucks. That's no big deal for an industry that just got off of two record seasons, but not so for investors.

The pain is being felt across the auto world.

On Adriene McNally's 49th birthday in January, she heard a knock on the door of her modest row-home in Northeast Philadelphia.

She was being served.

"They actually paid someone to come out and serve me papers on a Saturday afternoon," she says.

U.S. Treasury Secretary Steven Mnuchin wrapped up a meeting of the world's wealthiest nations with the assertion that the United States reserves the right to be protectionist.

At a news conference in Bari, Italy, where finance ministers from the Group of Seven nations gathered, Mnuchin said, "We do not want to be protectionist but we reserve our right to be protectionist to the extent that we believe trade is not free and fair."

Most of the news from Puerto Rico lately has been terrible. The island's government just declared that it cannot repay its bondholders and will carry out drastic cuts in education and social services. On Wednesday, thousands of students at the University of Puerto Rico voted to continue a protest strike.

This part two of a two part series. Listen to part one here.

Cooked chicken from birds grown and raised in China soon will be headed to America — in a trade deal that's really about beef.

Commerce Secretary Wilbur Ross announced Thursday night that the U.S. was greenlighting Chinese chicken imports and getting U.S. beef producers access to China's nearly 1.4 billion consumers. But the deal is raising concerns among critics who point to China's long history of food-safety scandals.

Today marks the launch of something both old and new in Detroit: a streetcar down Woodward Avenue. The streetcar opened to the public on Friday morning, after 10 years of planning and political wrangling.

The six streetcars make a 6.6 mile loop — 3.3 miles each way — connecting downtown Detroit with the New Center neighborhood, which was home to General Motors until it decamped downtown two decades ago.

Pages