Business

Business
4:43 am
Wed January 29, 2014

NCAA To Fight Football Team's Decision To Unionize

Originally published on Wed January 29, 2014 12:49 pm

Transcript

STEVE INSKEEP, HOST:

As we start this next story, let's remember that college football is big business, TV contracts, million dollar coaching salaries, game day revenues and more. Everybody profits except the players who may get treated like royalty and get all sorts of benefits on campus, but technically, are not supposed to be paid. So are they students or are they employees risking their health and the service of a big business?

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Around the Nation
2:54 am
Wed January 29, 2014

On The Plains, The Rush For Oil Has Changed Everything

Diners at Lonnie's Roadhouse Cafe eat breakfast before heading to work in Williston, N.D.
Annie Flanagan for NPR

Originally published on Wed January 29, 2014 12:49 pm

A remarkable transformation is underway in western North Dakota, where an oil boom is changing the state's fortunes and leaving once-sleepy towns bursting at the seams. In a series of stories, NPR is exploring the economic, social and environmental demands of this modern-day gold rush.

On a Sunday at dusk, Amtrak's eastbound Empire Builder train is jampacked, filled with people heading to their jobs in North Dakota towns like Minot, Williston and Watford City.

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Economy
5:30 pm
Tue January 28, 2014

Days Of Turmoil Test Stability Of Emerging Markets

Originally published on Tue January 28, 2014 6:55 pm

Transcript

ROBERT SIEGEL, HOST:

After losing a lot of ground, stock prices were back up a bit today. Investor anxiety about the state of the world's currency markets seemed to ease. The current turmoil is reminiscent of the 1997 currency crisis in Asia, which hurt economies all over the world.

As NPR's Jim Zarroli reports, there are also some big differences.

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Planet Money
4:33 pm
Tue January 28, 2014

Who Are The Long-Term Unemployed? (In 3 Graphs)

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Originally published on Thu February 6, 2014 12:54 pm

When you are out of work and looking for 27 weeks or longer, you become part of a group the Bureau of Labor Statistics calls long-term unemployed. The share of long-term unemployed workers hit its peak in May 2010, when 46 percent of the unemployed were long-term unemployed. It has hovered around 40 percent of the unemployed in the three years since.

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Business
3:57 pm
Tue January 28, 2014

A Chinese Company Brings Hope To Former GM Workers In Ohio

An abandoned General Motors automotive assembly plant near Dayton, Ohio, will soon become home to Fuyao Auto Glass, a Chinese windshield maker.
AFP/Getty Images

Originally published on Tue January 28, 2014 6:55 pm

For years, industrial cities across the U.S. have watched factories pack up and leave, taking their operations to Mexico or China. But here's something relatively new: increasing numbers of Chinese companies are bringing manufacturing to the United States.

Just south of Dayton, Ohio, a Chinese auto-glass maker now plans to open up shop in what used to be a large General Motors truck plant.

The announcement is a big deal for this former factory town.

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Money Coach
11:51 am
Tue January 28, 2014

Scammers Taking Advantage Of Retail Data Breaches

Originally published on Tue January 28, 2014 4:34 pm

Transcript

MICHEL MARTIN, HOST:

Now it's time for our Money Coach conversation. You've heard by now about the problems at a number of retail stores like Target and Neiman Marcus, where hackers were able to access supposedly private information from the millions of customers who used credit and debit cards at the stores. But now there are people trying to take advantage of that chaos and scam you again. Here to tell us more is Sheryl Harris who writes for The Plain Dealer in Cleveland. Welcome back. Thanks so much for joining us.

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Shots - Health News
11:27 am
Tue January 28, 2014

How A Divorce Can Boost Health Insurance Subsidies

iStockphoto

As the enrollment period continues for health coverage on the state health insurance marketplaces, people continue to have many questions about buying a plan there.

What happens with premium tax credits if a couple gets divorced? If the premium tax credit is based on the previous year's income when the couple filed taxes jointly, many wouldn't qualify. But once someone is divorced, one individual might have little income. What is the subsidy based on in that situation?

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Parallels
10:45 am
Tue January 28, 2014

In China's Hugely Indebted Cities, Some Big Bills Are Coming Due

Wuhan, in central China, is in debt to the tune of a reported $33 billion — nearly twice the city's GDP. This 17-mile highway sat dormant for two years after banks cut off funding as Wuhan's debt ballooned. Work on the road resumed last year, but the construction company still hasn't been paid.
Frank Langfitt NPR

Originally published on Tue January 28, 2014 6:55 pm

In recent years, rampant borrowing has driven a significant chunk of China's economic growth. The bill is now becoming clearer — and it's big. Late last year, China revealed that local governments owe nearly $3 trillion – more than the gross domestic product of France, the world's fifth-largest economy.

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The Two-Way
8:53 am
Tue January 28, 2014

Obama To Raise Minimum Wage For Federal Contracts

President Obama, working at his desk Monday night on the eve of his 2014 State of the Union address.
Jacquelyn Martin AP

Originally published on Tue January 28, 2014 11:06 am

News broke this morning that President Obama will announce during his State of the Union address tonight that he's going to sign an executive order raising the minimum wage in new federal contracts.

And as stories about that were popping up on news sites, one of the president's top advisers was on Morning Edition saying that Obama has "warmed up to" the idea of using such executive orders to advance his agenda.

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Around the Nation
5:01 am
Tue January 28, 2014

Winter Census Tallies Homeless Veterans

Originally published on Wed February 5, 2014 2:30 pm

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep. Good morning.

On the way into work this morning, I felt a blast of cold air on my face. It was 19 degrees in Washington, unpleasant even for a few minutes. And we're going to hear next about people who spent the whole night outside in temperatures that were even lower.

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Economy
4:58 am
Tue January 28, 2014

Researchers Examine Gap Between Rich And Poor

Originally published on Tue January 28, 2014 8:20 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with income inequality.

(SOUNDBITE OF MUSIC)

INSKEEP: President Obama has dropped a few hints that one of the themes of his State of the Union address tonight will be the growing gap between the rich and the poor. He recently called economic mobility and inequality the defining challenge of our times. So is it?

Harvard researchers have been examining this question, including a co-author of a study, Nathan Hendren.

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Planet Money
4:58 am
Tue January 28, 2014

White House Reminds Firms Not To Overlook Long-Term Jobless

Originally published on Tue January 28, 2014 8:20 am

Transcript

STEVE INSKEEP, HOST:

Here's another item likely to be part of tonight's State of the Union address: helping the long term unemployed. The president is expected to announce that some of America's firms have signed a pledge not to discriminate against the long term unemployed when they're hiring. This week, the president plans to meet with many of the CEOs of those companies. NPR's Zoe Chace from our Planet Money team reports on the surprising experiment that, in part, lead to this meeting.

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Economy
5:17 pm
Mon January 27, 2014

The Middle Class Took Off 100 Years Ago ... Thanks To Henry Ford?

Ford's use of a moving line reduced a car's assembly time from 12 hours to 93 minutes, but this made the work repetitive for workers like the ones here, who are making flywheels. So Ford paid workers $5 a day, an extraordinary amount at the time.
AP

Originally published on Wed January 29, 2014 1:17 pm

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Business
4:55 am
Mon January 27, 2014

Federal Reserve Officials To Evaluate Stimulus Easing

Originally published on Mon January 27, 2014 7:25 am

Federal Reserve officials are meeting this week to decide whether to continue easing up on economic stimulus measures. The pullback by the Fed so far is being felt around the world, especially in some emerging markets.

All Tech Considered
3:34 am
Mon January 27, 2014

As PC Sales Drop, Intel Delays A Plant Opening And Cuts Jobs

With new construction in the background, President Obama spoke about manufacturing and jobs during a visit to Intel's Ocotillo facility, Jan. 25, 2012, in Chandler, Ariz.
Ross D. Franklin AP

Originally published on Mon January 27, 2014 12:57 pm

As far as factories go, this one was about as ballyhooed as they come. In 2012, President Obama visited Intel's Ocotillo campus in suburban Phoenix, the day after his State of the Union address.

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Economy
3:31 am
Mon January 27, 2014

Bernanke's Fed Legacy: A Tenure Full Of Tough Decisions

Outgoing Federal Reserve Chairman Ben Bernanke spoke about the Federal Reserve's first and next century on Thursday at the Brookings Institution in Washington.
Manuel Balce Ceneta AP

Originally published on Mon January 27, 2014 7:25 am

Federal Reserve Chairman Ben Bernanke will preside over his last Fed policy-making meeting on Tuesday and Wednesday. On Saturday morning, the first woman ever to lead the nation's central bank, Janet Yellen, will take over.

There's no doubt that during his two terms as chairman, Bernanke faced a challenge unlike any Fed chairman since the Great Depression: a global financial crisis that threatened to become financial Armageddon and followed by a deep recession.

Bernanke talked about how he survived it all during an appearance at the Brookings Institution recently.

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Economy
5:21 pm
Sun January 26, 2014

Taking Stock Of The Northern Plains Oil Boom

Originally published on Sun January 26, 2014 6:20 pm

Beginning next week, NPR News will be taking an in-depth look at the unprecedented oil drilling boom happening on the Northern Plains, where the state of North Dakota has fast become one of the nation's most productive drilling regions. NPR's Kelly McEvers talks with NPR reporter Kirk Siegler, back from a recent reporting trip in North Dakota for the series.

Politics
12:48 pm
Sun January 26, 2014

The Income Gap: How Much Is Too Much?

John Moore Getty Images

Originally published on Mon January 27, 2014 1:13 pm

In the debate over income inequality, the right and left seem to agree on one point: The U.S. is more the land of equal opportunity than the land of equal outcomes.

But what's the real relationship between the growing income gap and opportunity? A new report out last week has triggered more debate about the haves and the have-nots.

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Politics
9:41 am
Sun January 26, 2014

Economic Opportunity A Big Topic For State Of The Union Speech

Originally published on Sun January 26, 2014 12:47 pm

The president will deliver his State of the Union address Tuesday. NPR national political correspondent Mara Liasson talks with NPR's Rachel Martin about what to expect.

Economy
5:22 pm
Fri January 24, 2014

Trouble In Emerging Markets Causes Stocks To Take A Tumble

Originally published on Fri January 24, 2014 7:29 pm

Transcript

MELISSA BLOCK, HOST:

Stock prices soared in the past year, but this was a rough week and prices really tumbled today. The Dow lost 318 points, the S&P 500 and the NASDAQ both fell 2.1 percent. This was part of a global sell-off, as investors focus on the growing financial turmoil in the developing world. NPR's Chris Arnold is following this and he joins me now. Chris, the year started off looking like the global economy was more stable. We didn't have a financial crisis unfolding somewhere. So what's going on now?

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The Two-Way
4:34 pm
Fri January 24, 2014

Dow Loses 318 Points, The Most In One Day Since June

The Dow closed 318 points lower on Friday, the biggest one-day drop since June.

As NBC News puts it, the index joined the rout that hit European and Asian markets on fears that the global economy is slowing.

The Wall Street Journal adds:

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Planet Money
1:54 pm
Fri January 24, 2014

An Astonishing Share Of Homebuyers Are Paying All Cash

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More and more people are buying homes with pure cash. In December, all-cash purchases accounted for 42.1 percent of all U.S. residential sales, according to the latest report from RealtyTrac, a company that collects and analyzes housing data.

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Business
7:29 am
Fri January 24, 2014

Drowning In Debt, Bike Sharing's Bixi Files For Bankruptcy

Montreal-based Bixi, which came up with the bike sharing systems offered in many American cities, has filed for bankruptcy. Renee Montagne talks with Andy Riga of the Montreal Gazette about where things went wrong for Bixi, and the future prospects of its operations in North America.

Business
5:12 am
Fri January 24, 2014

MIT Housing Survey Focuses On 70 Metro Areas

Originally published on Fri January 24, 2014 7:29 am

A new report from the MIT Center for Real Estate forecasts home prices in 60 U.S. cities. Whether housing prices are going up or down depends on where you live.

Economy
6:44 pm
Thu January 23, 2014

Study: Upward Mobility No Tougher In U.S. Than Two Decades Ago

The study did reveal widespread disparity in upward mobility based on geography. For those hoping to climb the economic ladder, San Francisco is one of the best places to live, the study found.
Justin Sullivan Getty Images

Originally published on Fri January 24, 2014 5:32 pm

A new study finds that contrary to widespread belief, it's no harder to climb the economic ladder in the United States today than it was 20 years ago.

But the study did find that moving up that ladder is still a lot more difficult in the U.S. than in other developed countries.

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Economy
5:23 pm
Thu January 23, 2014

What Do Americans Think About Income Inequality?

Originally published on Fri January 24, 2014 5:32 pm

Transcript

ROBERT SIEGEL, HOST:

And as we just heard from Jim, economic mobility may not have changed much in the last 20 years, but income inequality has skyrocketed. More on the latter now from Michael Dimock, vice president of research at the Pew Research Center. Pew has a new survey out, asking Americans what they think about income inequality.

Michael Dimock, welcome once again.

MICHAEL DIMOCK: Thanks for having me.

SIEGEL: And first finding is Americans say there is growing income inequality, yes?

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All Tech Considered
5:23 pm
Thu January 23, 2014

Retailers Can Wait To Tell You Your Card Data Have Been Compromised

The security breaches at Target and Neiman Marcus have raised questions over how quickly companies are required to disclose that customer information was hacked.
Joe Raedle Getty Images

Originally published on Fri January 24, 2014 5:32 pm

You might think that retailers have to let you know right away if they get hacked and someone steals your account information.

But recent disclosures by Target and Neiman Marcus that their networks were hacked, and data about their consumers were stolen, have raised questions about how quickly merchants need to alert their customers.

In the case of Neiman Marcus, the company may have had evidence of a breach as far back as July. But the law is a bit murky on just how quickly companies need to let customers know.

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The Two-Way
8:59 am
Thu January 23, 2014

Sales Of Existing Homes Hit 7-Year High In 2013

Originally published on Thu January 23, 2014 10:35 am

We updated the top of this post at 10:30 a.m. ET.

The evidence that the housing sector has bounced back from the deep slump it sank into starting in 2007 was reinforced Thursday morning with word from the National Association of Realtors that:

"Existing-home sales edged up in December, sales for all of 2013 were the highest since 2006, and median prices maintained strong growth. ...

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Business
6:06 am
Thu January 23, 2014

World Economic Forum Opens In Switzerland

Originally published on Thu January 23, 2014 8:20 am

Transcript

RENEE MONTAGNE, HOST:

The World Economic Forum is underway at the Swiss Alpine resort of Davos. It's an annual meeting of the world's business elites but also in attendance are world leaders and academics, celebrities and charities.

Gideon Rachman is chief foreign affairs columnist for the Financial Times. He's a regular at Davos and he joined us from there. Good morning.

GIDEON RACHMAN: Good morning.

MONTAGNE: Tell us about who is there this year and if there are some names that you're surprised to find are not.

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Europe
3:51 am
Thu January 23, 2014

Spain Exits Bailout In A Sign Of Progress, Not Full Recovery

Shareholders protest bank practices at the headquarters of Spain's largest mortgage lender, Bankia, in Madrid on June 23, 2012, at the height of the country's banking crisis. Europe stepped in at that time with $56 billion in loans to help the banking system.
Andrea Comas Reuters/Landov

Originally published on Thu January 23, 2014 7:47 pm

Spain's banking system on Thursday is marking an end to its reliance on bailout loans from Europe that were desperately needed 18 months ago to shore up its banks after a construction boom-and-bust.

Spain is now the second eurozone country to cleanly exit its bailout program, after Ireland.

It's a dramatic difference from a year and a half ago, when demonstrations erupted outside banks in Spain almost daily. At the time, record numbers of Spaniards were losing their homes in foreclosure. Unemployment soared past 25 percent and kept rising.

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