Originally published on Mon November 4, 2013 2:00 pm
Like professional baseball, the drug industry may need to slap asterisks next to some of its standout sales accomplishments.
Johnson & Johnson became the latest drugmaker to reach a costly agreement with the federal government over charges of improper marketing. The widely anticipated settlement, unveiled Monday, covers Natrecor, a drug for congestive heart failure, and antipsychotics Risperdal and Invega.
Originally published on Mon November 4, 2013 3:28 pm
DAVID GREENE, HOST:
NPR's business news starts with a guilty plea.
(SOUNDBITE OF MUSIC)
GREENE: SAC Capital Advisors is expected to plead guilty to securities fraud today. The hedge fund company has agreed to pay $1.8 billion to settle charges of insider trader. It's said to be the biggest fine ever in a case like this. The settlement will be announced at a news conference later today in New York City. And that's where we've reached NPR's Jim Zarroli. And Jim, explain for us, if you can, what SAC has actually agreed to here.
Originally published on Mon November 4, 2013 9:23 am
Depending on how many hours you spent in the backseat being tortured by a sibling or how many hours you spent in the driver's seat being forced by your kids to listen to Beat It, this may not be an anniversary you wish to celebrate.
And the honoree has many critics who say it was just darn ugly when it debuted in 1983.
But there are those who seem to be looking back with fondness on the now 30-year-old life of the Chrysler minivan. After all, it's a vehicle that basically created a market that didn't exist, was imitated by others and became a cultural icon.
A few weeks ago, the smartphone maker announced it had signed a letter of intent to sell the company valued at $4.7 billion to Fairfax Financial Holdings. Instead, in a statement released Monday, BlackBerry announced it will receive a $1 billion investment from Fairfax Financial and others. BlackBerry CEO Thorsten Heins will step down and be replaced by interim CEO John Chen.
And that brings us to today's last word in business: artwork, lost and found.
Authorities in Munich, Germany have uncovered a huge art collection that was thought to have been lost forever. Seized by the Nazis in the 1930s and '40s, this collection reportedly includes more than 1,500 pieces of art by masters like Picasso, Matisse and Chagall. All told, this collection could be worth over $1 billion.
NPR's business news starts with online gambling in Delaware.
The first state to ratify the Constitution is now leading the way in Internet gambling. Starting this week, Delaware gamblers will be able to play poker, roulette, blackjack and slots from the comfort of their own homes - or at a Starbucks somewhere - as long as they're registered through one of the state's three casinos and are physically in Delaware. If you're in Delaware, you can gamble online.
Let's talk about smartphones. And for iPhone users, an important decision: when to upgrade. Apple's latest iPhones, the 5S and 5C, have been out for a couple months now. But some people are resisting temptation. They're perfectly happy with their older iPhones, except for one thing, when they upgrade to Apple's new operating system, things slow down.
To talk about how to manage this decision, we're joined - as we often are - by Bloomberg technology columnist Rich Jaroslovsky. Hey, Rich.
Iran may not love America politically, but Iranians love American food — especially fast food.
With no formal diplomatic relations between the two countries, though, it's rather hard to find a McDonald's or a Pizza Hut. But if you wander through the streets of Tehran, you might find a Pizza Hat or a Mash Donald's.
Consumers shopping for coverage on the new health insurance exchanges have been focused on the lowest-cost options. But some shoppers are trying to determine which plans offer the widest array of doctors and hospitals — and are finding that can be trickier than it sounds.
John Batteiger applied for insurance coverage on the New York state exchange. But after he'd selected a plan, he had second thoughts: He'd forgotten to check if the plan he picked included a hospital near him.
Scandal star Kerry Washington's turn hosting NBC's Saturday Night Live this Saturday has revived criticism of the show's lack of black female cast members. The issue was raised earlier this year when SNL announced five new cast members — four male, all white. The show's lack of black women — only three have ever been cast in 38 years — forces the show's black males to dress as black women, which echoes historic, demeaning issues for black male comics.
Food stamp recipients will see a cut in their benefits starting Friday. For the hungry and unemployed, more cuts may be coming. That's a challenge for the affected families, but it could also be a drain on the broader economy.
Starbucks, which revolutionized the coffee industry, is now taking on tea. It has opened its first tea bar, and it's creating mixed tea beverages, some even more complex and customized than the coffee beverages we all know.
This first store, on Madison Avenue in Manhattan, has minimalist decor: gray soft seats, charcoals, chestnut browns. Teavana teas line one wall. Beakers filled with colored liquids greet you at the entrance.
Acura MDX sport utility vehicles roll off the assembly line at a Honda plant in Lincoln, Ala., in May. Overseas investors have U.S. assets totaling nearly $4 trillion, including auto plants, banks and mines.
Originally published on Fri November 1, 2013 11:44 am
When many Americans hear the word "globalization," they think: "jobs going overseas."
And sometimes it does mean just that.
But as globalization knits nations closer together, foreign companies increasingly are creating jobs in the United States, not luring them away. Despite the Great Recession, slow recovery and political dysfunction in Washington, the United States remains a top destination for the world's wealth.
With economic uncertainties in Washington, how is big business planning for the future? Robert Siegel talks to Delta Airlines CEO Richard Anderson about whether he's planning to grow his company or put off investments until the economy evens out.
Housing has been one of the bright spots in the economy this year. This week, a report showed that home prices in the top 20 cities continued their robust upward march in August. There are also far fewer foreclosure sales and other signs of distress in the market.
But the Federal Reserve expressed concern Wednesday about the slowing housing market. Pending home sales fell far more than expected. And housing experts are bracing for some volatility.
Batista appears with Brazilian President Dilma Rousseff during a ceremony in celebration of the start of oil production by OGX, Batista's oil and gas company, in 2012. The company filed for bankruptcy Wednesday.
Credit Sergio Moraes / Reuters/Landov
Brazilian billionaire Eike Batista gives a thumbs up in better days.
Saying it has "determined that airlines can safely expand passenger use of Portable Electronic Devices (PEDs) during all phases of flight," the Federal Aviation Administration announced Thursday that it is advising airlines they can let fliers use their much-loved e-books, tablets and other handhelds "gate-to-gate."
Cellphone calls, however, would still be prohibited.
Nintendo, the world's largest video game company, reported its third quarterly net loss in a row — the latest was just over $81 million. The Wii U gaming console's disappointing sales are the main culprit. It has sold just 5 percent of what Nintendo had projected a year ago.
Pulp-fiction writer Howard Phillips "H.P." Lovecraft has for decades terrified an underground following of readers with horror stories about monsters and aliens. He's known to some as a bad writer, and to many as a racist. Even during the author's lifetime, his readership was limited.
To the long list of problems plaguing HealthCare.gov, add data security. The enrollment site for the new health insurance exchanges had a security flaw that didn't get patched up when the exchange marketplace went live.