If you're interested in studying in China, a new scholarship program could help you on your way. Rivaling the prestigious Rhodes scholarships, the new Schwarzman Scholars program was announced recently by Stephen Schwarzman, CEO and co-founder of Blackstone Group, one of the world's biggest private-equity firms.
The financier says he plans to raise $300 million, including $100 million of his own money, to fund a new program aimed at bringing students from around the world to study at Beijing's Tsinghua University.
This week, major retailers including Wal-Mart, Gap and others met with labor activists in Germany, hoping to hammer out a deal to improve working conditions in Bangladesh.
The meeting came less than a week after a devastating building collapse in the Bangladeshi capital, Dhaka, killed more than 400 workers. At the meeting, activists pushed retailers who use factories in Bangladesh to start spending their own money to make those workplaces safer.
During the housing bust, taxpayers were forced to bail out mortgage giants Fannie Mae and Freddie Mac. But thanks to the real estate recovery, Fannie Mae could end up paying tens of billions of dollars back to the Treasury this summer.
That's just one of the factors behind a better bottom line for the federal government. This week, the Treasury Department announced it will pay down some of its debt for the first time in six years.
This is TALK OF THE NATION. I'm John Donvan, in Washington. Neal Conan is away. A lawyer shortage, really? Well, yes, depending on where you live, and rural America is in some places apparently suffering a lawyer shortage right now, just as it has long been coping with a doctor shortage. Small town life is not selling with certain professions, and in distinct ways communities can be truly undermined by the absence of, say, doctors and lawyers and architects and so on.
Good morning. I'm David Greene. If you're like me you remember some great birthdays at Chuck E. Cheese. The mascot at the pizza joint, an oversized rodent, gave the best birthday hugs. But these days Chuck E. is just not himself. It looks like he's been on a major diet. The restaurant chain has had a few tough years.
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GREENE: "Downton Abbey," it's our last word in business today. The hit PBS program is expanding into the world of merchandise.
RENEE MONTAGNE, HOST:
CNBC reports the costume drama, set in Edwardian England, will soon launch a line of fashion, furniture, wallpaper and beauty products. The show's popularity has already created a boost in sales for items from the era, like gloves, fur capes and old-fashioned sherry.
A factory collapse in Bangladesh last week killed more than 400 people, mostly garment workers. Hundreds more are still missing, making it one of the largest manufacturing disasters in history. It's just the latest horrific accident in the garment industry despite more than a decade of auditing aimed at improving working conditions.
In September 2012, a fire at the Ali Enterprises factory in Pakistan killed nearly 300 workers. Six weeks later, in November, a fire in the Tazreen factory in Bangladesh killed 112 people. Then, last week, there was the Rana Plaza collapse.
Proof of Martha Stewart's ongoing commercial appeal has been on display in a New York courtroom. Yesterday, an appeals court decided that department store J.C. Penney can continue selling a new line of housewares designed by Stewart. But the ruling keeps Macy's from having the exclusive rights to the brand.
NPR's Sonari Glinton reports.
SONARI GLINTON, BYLINE: There is one reason why both J.C. Penney and Macy's want Martha Stewart.
MARSHAL COHEN: She's had a history of having success.`
NPR's business news starts with a scramble for Apple bonds.
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MONTAGNE: Apple, yesterday, sold $17 billion worth of bonds - which is a new industry record. Apple issued the bonds to take advantage of low interest rates as it prepares to make a payout of $100 billion to shareholders by 2015. Transcript provided by NPR, Copyright NPR.
With all of the controversy over entitlement reform, there's one thing both sides can agree on: Social Security alone does not provide enough money for a comfortable retirement. For these workers, the Obama administration is proposing automatically enrolling workers in IRAs through their employers.
California adopted a version of this last year. Democratic state Sen. Kevin de Leon sponsored the bill to automatically enroll workers in an individual retirement account. The inspiration, he says, was his Aunt Francisca, who's 74.
Look at photographs from the Bangladesh garment factory collapse, and you can see clothing in the rubble destined for a store called Joe Fresh, one of the many retailers using supercheap fashions made overseas to keep shoppers buying often.
But in the aftermath of the tragedy, would customers pay more if they knew the clothes were made by workers treated fairly and safely?
The Salinas Valley in Northern California grows about 80 percent of the country's lettuce, and it takes a lot of people to pick and pack it. In a field owned by Duda Farm Fresh Foods, a dozen lechugueros, or lettuce pickers, are bent at the waist, cutting heads of iceberg lettuce. They work frantically to stay in front of a line of 12 more packers, who seal them with tape and toss them onto a conveyor belt.
Originally published on Tue April 30, 2013 2:04 pm
For Jason Collins, coming out just might prove a winning career strategy.
Before this week, the NBA center seemed like just another second-tier professional athlete, slouching toward retirement while still in his 30s. But all that changed overnight when Collins acknowledged he was gay in an interview with Sports Illustrated magazine published Monday.
We've known about the gap in wealth between white Americans and black and Latino Americans for some time. Just last year, the Census revealed that whites had about 22 times the wealth of African-Americans and 15 times the wealth of Latinos — and those numbers only got worse over the last five years during the Great Recession.
When it comes to culinary matters, France, in many minds, is synonymous with fine dining. So it might surprise you that, for the first time, sales at fast food chains have overtaken those at traditional restaurants in the country that gave us the word gastronomie.
OK. So that's a vision of L.A.'s future. Our last word in business is a vision for clothes of the future.
RENEE MONTAGNE, HOST:
In particular, it's a dress shirt for those who are tired of the effort to look dressy. The American company Wool and Prince says it has developed a wool shirt so odor resistant you could wear it for 100 days in a row without washing it.
Los Angeles has notoriously awful traffic. I know. I live here, and it seems to have gotten worse, as the city tries to fix it with a massive transportation development project aimed at getting commuters to choose the train over jammed freeways.
As Alex Schmidt reports that a change on that level needs to involve more than just laying down tracks.
The billionaire Richard Branson is happy this morning. His Virgin Galactic spacecraft successfully completed its first rocket-powered test flight.
NPR's Wendy Kaufman reports.
WENDY KAUFMAN, BYLINE: Branson's high flying endeavor has been plagued with delays and technical problems, but on Monday, after an early morning flight from the California desert, the often flamboyant billionaire said history was being made.
Americans are suspicious of drones. Reports of the unmanned aerial vehicles' use in war zones have raised concerns about what they might do here at home. For instance, in Seattle earlier this year, a public outcry forced the police department to abandon plans for eye-in-the-sky UAV helicopters.
Smoking has its risks, but in California higher prices for health insurance probably won't be among them.
The federal health law allows states to charge smokers up to 50 percent more for a health plan, but a bill moving forward in the California Legislature would prevent that from happening.
The Affordable Care Act is supposed to remove discrimination in the pricing of health insurance for things like gender and medical condition. Critics say a tobacco surcharge creates a new category of discrimination against smokers.
Even when people think they're buckling down, studies show the average office worker wastes over a third of the day. There's Facebook, of course, and the email from a friend with a YouTube link. After all that, is it time to go get coffee?
Worker pay is the most expensive line item in the budget for most businesses, which means billions of dollars are going to waste.
But here's the silver lining: It turns out lack of productivity presents a big business opportunity.
Joe Hruska is pretty blunt about how much work anyone does in a typical day.
Nearly all of the remaining provisions of the new health care law go into effect next January, including one that requires businesses with 50 or more full-time employees to pay for their health care or pay a penalty.
Some businesses may already be making personnel changes to save money when that provision of the Affordable Care Act kicks in. One option on the table: shifting full-time workers to part time.
In the aftermath of last year's Newtown, Conn., school shootings, the Entertainment Software Association, which serves computer and video game publishers, issued a statement saying that years of research has shown no connection between entertainment and real-world violence.
But there's still a connection between video game makers and real-world gun makers.
Three popular pesticides will soon be illegal in the European Union, where officials hope the change helps restore populations of honey bees, vital to crop production, to healthy levels. The new ban will be enacted in December.
"I pledge to do my utmost to ensure that our bees, which are so vital to our ecosystem and contribute over €22 billion ($28.8 billion) annually to European agriculture, are protected," said EU Health and Consumer Commissioner Tonio Borg.