Business

Media
3:11 pm
Mon May 13, 2013

Bloomberg News Apologizes For Tracking Subscribers

Originally published on Tue May 14, 2013 3:42 pm

Transcript

AUDIE CORNISH, HOST:

The editor-in-chief of Bloomberg News is apologizing. That's after admitting his reporters tracked how subscribers use the company's famous financial data terminals. The disclosure has caused an uproar in the financial services world. As NPR's David Folkenflik reports, the episode has roots both in Bloomberg's innovations in data management, and its corporate culture.

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Social Entrepreneurs: Taking On World Problems
3:05 pm
Mon May 13, 2013

An 'Entrepreneurial Seedling' Sprouts In Detroit

A worker with The Empowerment Plan creates a coat that will later be donated to a homeless person. The organization works inside Ponyride, a 30,000-square-foot warehouse near downtown Detroit. The warehouse hosts other local businesses, too.
Courtesy of Order & Other

Originally published on Tue May 14, 2013 3:42 pm

Detroit is littered with empty warehouses — more than 7,000, by one estimate. They've become skeletons of the city's industrial past.

But not this warehouse, where Jennifer Blake is feeding quilted fabric through a sewing machine. She's making a coat. Fashioned with Velcro fastenings, it has a sleeping bag that slips out on the bottom, and is made of recycled car parts, she says.

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The Two-Way
2:33 pm
Mon May 13, 2013

Western Retailers To Fund Upgrades At Bangladesh Factories

Relatives on Sunday attempt to identify the bodies of loved ones following from the collapse of Rana Plaza in Savar, on the outskirts of Dhaka.
AFP/Getty Images

Originally published on Mon May 13, 2013 9:37 pm

Four retailers who represent the largest purchasers of clothes produced in Bangladesh announced Monday that they have will help finance safety upgrades at apparel factories in the South Asia country after the collapse of a garment complex killed more than 1,000 workers.

The news comes as the death toll in the April 24 collapse of the eight-story Rana Plaza near Dhaka rose to at least 1,127, according to officials.

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Remembrances
2:24 pm
Mon May 13, 2013

Creator Of Popular Schwinn 'Sting-Ray' Bike Dies

Originally published on Tue May 14, 2013 3:42 pm

Transcript

AUDIE CORNISH, HOST:

Finally, this hour, we remember the man behind a famous bicycle design. Now, if you spent your childhood riding a bike with big handlebars and a banana seat, then you owe Al Fritz your thanks. The former executive for the bike company Schwinn died last week. In 1963, Fritz introduced the model known as the Sting-Ray, and it got a boost with ads on the TV show "Captain Kangaroo."

(SOUNDBITE OF TV COMMERCIAL)

UNIDENTIFIED ANNOUNCER #1: Captain will be back after these messages.

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Business
2:24 pm
Mon May 13, 2013

Fashion Retailers Agree To Safety Plan After Factory Collapse

Originally published on Tue May 14, 2013 3:42 pm

Transcript

AUDIE CORNISH, HOST:

It's been three weeks since a factory collapsed in Bangladesh's garment sector, killing more than 1,000 people. Today, several major retailers that buy clothing made in the country signed onto an ambitious safety plan meant to prevent future tragedies. The agreement is being applauded by worker advocates around the world.

To tell us what's in it, we're joined by NPR's Jim Zarroli. And Jim, give us the details. What does the agreement say, and what does it actually commit retailers to do?

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Around the Nation
2:24 pm
Mon May 13, 2013

IRS Under Fire For Targeting Conservative Groups

Tea Party activists gather on Capitol Hill in 2011. A surge in applications for 501(c)(4) status in recent years has revealed sometimes murky and contradictory rules governing the political activities of tax-exempt groups.
Brendan Smialowski AFP/Getty Images

Originally published on Tue May 14, 2013 3:42 pm

President Obama expressed outrage Monday over the Internal Revenue Service's admission that it targeted certain conservative groups for extra scrutiny. By the time the president weighed in, members of both parties in Congress had already begun preparing hearings to grill IRS officials on the issue.

The controversy is rooted in a question neither the IRS nor Congress has answered clearly: Exactly what kind of political activity is allowed for tax-exempt groups — particularly those with secret donors?

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All Tech Considered
1:14 pm
Mon May 13, 2013

Facebook Users Question $20 Million Settlement Over Ads

Dado Ruvic Reuters/Landov

Originally published on Tue May 14, 2013 3:42 pm

A San Francisco judge will decide this month whether to approve a settlement in a class-action lawsuit that could affect more than 70 million Facebook users. The $20 million deal would mark the end of a years-long battle over the social network's "Sponsored Stories" advertising.

But Facebook users' images could still appear in ads if they don't change their settings. And many users say the deal before the judge doesn't go far enough to protect their privacy.

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Economy
9:57 am
Mon May 13, 2013

Is The Housing Recovery Just A Mirage?

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE from NPR News. I'm Michel Martin. Coming up, as we head into graduation season, we want to talk about a new report about changes and challenges at the nation's historically black colleges and universities. That's coming up. But first, it's also the beginning of what has been historically the spring home buying season.

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Planet Money
9:34 am
Mon May 13, 2013

A First Job Is Like A First Date, And Other Advice For Graduation Day

Don't overcommit.
Butch Dill AP

We asked a bunch of economists what they would say if they were giving a commencement address this spring. Here are some excerpts from their responses.

Justin Wolfers:

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The Record
3:22 am
Mon May 13, 2013

Covering Pop Hits On YouTube Is Starting To Pay

Tyler Ward says he was able to buy a car and a house with money he made posting videos of himself covering pop hits on YouTube.
Courtesy of the artist

Originally published on Mon September 16, 2013 12:32 pm

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Business
2:21 am
Mon May 13, 2013

Wall Street Complains About Bloomberg Reporters' Access To Info

Originally published on Mon May 13, 2013 6:41 am

Giant financial data company Bloomberg is acknowledging that some of its subscribers were tracked by the company's reporters. The reporters were allowed to see what kind of information the subscribers were looking at and how long it had been since they logged on. The tracking came to light after Goldman Sachs Raised questions about the practice. Over the weekend, the Federal Reserve said it is looking into whether its employees were tracked as well.

Business
2:21 am
Mon May 13, 2013

Business News

Originally published on Mon May 13, 2013 6:41 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with a big recall for jeeps.

Chrysler is recalling about 470,000 Jeep SUVs worldwide. Certain Jeep Grand Cherokees and Commanders are being recalled because the transmission could shift by itself - from park into neutral - with no warning to the driver. The source of the problem: cracks in the circuit board that can cause a faulty signal on start-up.

Business
2:21 am
Mon May 13, 2013

The Last Word In Business

Originally published on Mon May 13, 2013 6:41 am

Transcript

DAVID GREENE, HOST:

Today's last word in business is: The Cat's meow.

Last summer, the Walker Art Center in Minneapolis hosted the first-ever Internet Cat Video Festival. Yes, that happened. The festival featured 70 minutes of Internet cat videos.

STEVE INSKEEP, HOST:

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All Tech Considered
1:06 am
Mon May 13, 2013

Google Fights Glass Backlash Before It Even Hits The Street

A visitor at the "NEXT Berlin" conference tries out Google Glass on April 24 in Berlin.
AFP/Getty Images

Originally published on Mon May 13, 2013 9:57 am

Google Glass isn't even for sale yet, but it's already facing backlash.

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The Two-Way
7:43 am
Sun May 12, 2013

U.S. Gas Prices Expected To Remain Low For Summer

Gas prices are displayed on a board at a Hess station in Hoboken, N.J., Sunday. Lower oil and gasoline prices are giving relief to consumers who recently seemed about to face the highest prices ever.
CX Matiash AP

Originally published on Sun May 12, 2013 11:07 am

Drivers will find this summer's gas prices are lower than last year's, the result of a spike in crude oil production. Government forecasters say a gallon of regular gasoline will cost about $3.50 this summer — a slide of more than 10 cents from last year.

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The Two-Way
9:41 am
Sat May 11, 2013

Experts Marvel At How Cyber Thieves Stole $45 Million

This week's massive cyber-heist was facilitated by the ease with which criminals have learned to hack the magnetic stripe on the back of ATM, debit and credit cards.
Timothy A. Clary AFP/Getty Images

Originally published on Sat May 11, 2013 5:00 pm

With a haul of $45 million, it's being billed as possibly the biggest cyber-heist in history. But in reality, experts and authorities say, it was thousands of small but highly coordinated thefts.

As we reported on Thursday, federal prosecutors charged eight people with being the just New York cell of an operation that allegedly encompassed criminal cohorts in 26 countries.

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NPR Story
3:29 am
Sat May 11, 2013

The Philosophy, Economics Behind Sourcing Retail

Originally published on Sat May 11, 2013 8:11 am

Transcript

SCOTT SIMON, HOST:

And the deaths in Bangladesh have prompted a number of American clothing companies to disclose where their products are made. Everlane is an online clothing retailer based in San Francisco that has always done that. Michael Preysman is the CEO and founder of Everlane, and we asked him where and how his company's T-shirts are manufactured.

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The Two-Way
5:45 am
Fri May 10, 2013

Book News: Microsoft Rumored To Be Interested In Buying Nook

Microsoft already owns nearly a 17 percent stake in Nook Media.
Spencer Platt Getty Images

Originally published on Fri May 10, 2013 10:33 am

The daily lowdown on books, publishing, and the occasional author behaving badly.

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Television
4:12 am
Fri May 10, 2013

How Does NBC Plan To Climb Back Up Rating's Ladder?

Originally published on Fri May 10, 2013 6:10 am

NBC was once must-see TV. Now, the network's ratings have slipped behind Spanish Language TV. What happened to this once mighty TV network?

Business
3:45 am
Fri May 10, 2013

The Last Word In Business

Originally published on Fri May 10, 2013 6:10 am

Transcript

DAVID GREENE, HOST:

Our last word in business today is a tribute to a father of Italian high-fashion. Ottavio Missoni died yesterday at age 92.

STEVE INSKEEP, HOST:

Now before he was a fashion mogul, he ran track in the 1948 Olympics - which is where he met his wife, whose family owned a textile mill in northern Italy.

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Business
3:45 am
Fri May 10, 2013

Business News

Originally published on Fri May 10, 2013 6:10 am

Transcript

STEVE INSKEEP, HOST:

Here's what's big in Japan - inflation. That's the start of NPR's business news.

(SOUNDBITE OF MUSIC)

INSKEEP: OK. The Japanese currency, the yen, is falling like crazy against the U.S. dollar - which is just the way the Japanese central bank planned. The economy has been stagnant for nearly two decades, and a weak yen makes Japan more attractive to tourists and foreign investors.

Business
3:43 am
Fri May 10, 2013

Cyber Criminals Drain $45 Million From ATMs Around The World

Originally published on Mon May 13, 2013 11:13 am

Transcript

DAVID GREENE, HOST:

All right, prosecutors are calling it the biggest bank heist in New York City since the 1970s. They say a gang of cybercriminals drained $45 million from ATMs around the world.

Here's NPR's Joel Rose.

JOEL ROSE, BYLINE: United States Attorney Loretta Lynch says the eight men charged in New York were able to withdraw $2.8 million in cash in just one day, in February.

LORETTA LYNCH: This was a 21st century bank heist. But instead of guns and masks, this cybercrime organization used laptops and malware.

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All Tech Considered
1:17 am
Fri May 10, 2013

Peers Find Less Pressure Borrowing From Each Other

iStockphoto.com

Originally published on Fri May 10, 2013 6:10 am

The Internet has managed to disrupt many industries, from publishing to music. So why not lending?

Google is teaming up with the nation's largest peer-to-peer lender. The search and tech giant is investing $125 million in Lending Club, which gets borrowers and lenders together outside the conventional banking system. Google's move and the actions of other big players reflect a growing interest in peer-to-peer lending.

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Environment
1:16 am
Fri May 10, 2013

College Divestment Campaigns Creating Passionate Environmentalists

Students associated with the group Brown Divest Coal protested in front of the Brown University president's office during a rally May 3. The group is demanding that the university stop investing in certain oil and coal companies.
Courtesy of Brown Divest Coal

Originally published on Fri May 10, 2013 9:04 am

At about 300 colleges across the country, young activists worried about climate change are borrowing a strategy that students successfully used in decades past. In the 1980s, students enraged about South Africa's racist Apartheid regime got their schools to drop stocks in companies that did business with that government. In the 1990s, students pressured their schools to divest Big Tobacco.

This time, the student activists are targeting a mainstay of the economy: large oil and coal companies.

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Planet Money
1:12 am
Fri May 10, 2013

Why (Almost) No One In Myanmar Wanted My Money

Lam Thuy Vo / NPR

Originally published on Fri May 10, 2013 5:50 pm

When you arrive in Myanmar, you can see how eager the people are to do business. At the airport in Yangon, new signs in English welcome tourists. A guy in a booth offers to rent me a local cellphone — and he's glad to take U.S. dollars. But when I pull out my money, he shakes his head.

"I'm sorry," he says.

He points to the crease mark in the middle of the $20 bill. No creases allowed.

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The Salt
3:11 pm
Thu May 9, 2013

Big Ag Agrees to Conserve Cropland, But At What Cost?

Peanut plants grow on a Halifax, N.C., farm that received federal subsidies in 2011.
Robert Willett MCT /Landov

Taxpayers help subsidize crop insurance premiums for farmers to the tune of about $9 billion dollars, a figure that's growing each year. These policies protect farmers from major losses, and help support their income even if there's no loss of crops.

And in return? Well, environmentalists argue that farmers who receive this financial support should be required to be good stewards of the land.

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The Salt
2:22 pm
Thu May 9, 2013

Samoans Await The Return Of The Tasty Turkey Tail

A chef in the kitchen of NPR headquarters prepares turkey tails.
Art Silverman/NPR

Originally published on Fri May 10, 2013 10:04 am

This is the tale of turkey tail — it's convoluted arrival, disappearance and highly anticipated return to the Pacific island the Republic of Samoa (not to be confused with American Samoa).

It's hard to pinpoint precisely when turkey tails started being imported into Samoa from the U.S. and when they became a favorite, affordable dish. Meat byproducts (Spam and fatty lamb cuts from New Zealand) started showing up sometime after World War II, and turkey tails came shortly thereafter.

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The Two-Way
12:28 pm
Thu May 9, 2013

Feds Charge Alleged New York Cell In International Cyber Heist

Cybercriminals allegedly hacked into databases for prepaid debit cards and used the compromised data to steal from ATMs around the world.
Damien Meyer AFP/Getty Images

Originally published on Thu May 9, 2013 3:39 pm

Eight people in New York have been charged as part of what prosecutors say was a global ring of cybercriminals who stole $45 million by hacking into prepaid credit card accounts and then using the data to get cash from thousands of ATMs around the world.

U.S. Attorney for the Eastern District of New York Loretta Lynch described the alleged scheme as "a massive 21st century bank heist that reached across the Internet and stretched around the globe. In the place of guns and masks, this cybercrime organization used laptops and the Internet."

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Monkey See
9:14 am
Thu May 9, 2013

PBS Continues The March Into Streaming Programming

Antiques Roadshow is one of the programs available from PBS's new Roku channel.
PBS

Originally published on Thu May 9, 2013 9:25 am

Let's start with a brief tour of streaming television online.

For quite a while, streaming television meant sitting and watching it on your computer. It wasn't ideal, for obvious reasons. Then, it got easier to sit and watch it on your phone. That wasn't ideal, either, if you liked the living-room experience. Tablets do a better job than phones of delivering a portable but less tiny experience.

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The Two-Way
7:07 am
Thu May 9, 2013

Jobless Claims Stay Near 5-Year Low

Originally published on Thu May 9, 2013 8:16 am

There were 323,000 first-time claims for unemployment insurance last week, down 4,000 from the week before, the Employment and Training Administration says.

Note: As often happens, the previous week's figure is a slight revision from what was reported earlier. Initially, the ETA said there had been 324,000 first-time claims during the week ending April 27. Now, it says there were 327,000 that week.

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