Business

Business
3:28 am
Tue April 2, 2013

Novartis Ruling Reverberates Past India's Borders

India's Supreme Court says drug maker Novartis can't hold onto its patent for the pricey cancer drug Gleevec simply by tweaking its chemical formula. That means generic drug makers can keep making a form of the drug at a tenth of Novartis's price — for the Indian market and for other low- and middle-income markets. Consumer advocates call it a major advance for access to generic drugs. Novartis and drug industry allies say it will chill companies' willingness to produce innovative products.

Economy
3:28 am
Tue April 2, 2013

Economic Success Propels Germany Toward Europe's Political Power House

Originally published on Tue April 2, 2013 3:54 am

Steve Inskeep talks to Zanny Minton Beddoes, of The Economist, about the long-term impact of the Cyprus crisis on European economies. Beddoes offers the view from Germany. That country is now turning its attention to its own general elections in September.

Around the Nation
3:28 am
Tue April 2, 2013

In Bankruptcy, Stockton Must Decide Pension Issue

Originally published on Tue April 2, 2013 4:04 am

Transcript

STEVE INSKEEP, HOST:

A federal judge has ruled that Stockton, California, may enter into bankruptcy proceedings. That opens the way for Stockton to become America's largest bankrupt city. The population there is 300,000, bigger than Cincinnati, Newark, New Jersey or St. Paul, Minnesota. NPR's Richard Gonzalez reports that others cities share Stockton's problems.

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Financial Basics For Baby Boomers
1:23 am
Tue April 2, 2013

Deciding The Right Time To Claim Social Security

The importance of making a smart decision on how and when benefits are claimed can't be underestimated, says Mary Beth Franklin of Investment News.
iStockphoto.com

Originally published on Tue April 2, 2013 6:45 am

When it comes to claiming Social Security benefits, there is no magic age. Today's boomers can begin collecting full benefits at 66, tap in early for a modified benefit at 62 or delay receiving benefits until 70.

But the importance of making a smart decision on how and when benefits are claimed can't be underestimated, says Mary Beth Franklin of Investment News.

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Law
1:22 am
Tue April 2, 2013

States Propose Crackdowns On Copper Theft

Everything from telephone wire to plumbing is a target for copper thieves, and lawmakers in nearly half the states are considering legislation aimed at making it harder to sell the stolen metal.
iStockphoto.com

Originally published on Tue April 2, 2013 6:59 am

The price of copper remains at near historic highs, and that means so, too, does the amount of copper getting stolen.

Everything from telephone wire to plumbing is a target, and lawmakers in nearly half the states are considering legislation aimed at making it harder for thieves to sell the stolen metal.

James City County in southeastern Virginia has seen a spate of recent copper thefts. Maj. Steve Rubino with the county police department says there have been six major incidents since January.

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Business
3:17 pm
Mon April 1, 2013

Electric Car Company Posts Its First Profit While Another May File For Bankruptcy

Two startup automakers with big ambitions for electric vehicles appear to be headed in different directions. Luxury plug-in hybrid maker Fisker has hired a law firm to advise it on a possible bankruptcy, according to multiple published reports. Electric car maker Tesla announced on Monday that it expects to turn its first ever profit in the first quarter.

Economy
3:11 pm
Mon April 1, 2013

Stockton Bankruptcy Case Defers Decision On Pensions

An aging sign at City Hall in Stockton, Calif. A judge has ruled that the city is eligible for federal bankruptcy protection.
Justin Sullivan Getty Images

Originally published on Mon April 1, 2013 6:41 pm

U.S. Bankruptcy Judge Christopher Klein ruled Monday on the most important question facing Stockton, Calif. — whether it could enter into federal bankruptcy protection.

Klein agreed that the city is, in fact, broke.

But he didn't decide the question of whether the city must renegotiate its pension obligations, as some of its creditors had hoped.

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The Two-Way
2:55 pm
Mon April 1, 2013

Hard Times At Apple: Apology To China Comes As Stock Slides

People line up to enter a newly-opened Apple Store in Wangfujing shopping district in Beijing.
Andy Wong AP

In an unusual move on Monday, Apple CEO Tim Cook apologized to Chinese customers over the company's warranty policy and vowed to improve customer service in the country.

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NPR Story
2:44 pm
Mon April 1, 2013

Tech Week Ahead: Rumors Of A Facebook Phone

Originally published on Mon April 1, 2013 3:17 pm

Steve Henn looks at this week's technology news, including a possible Facebook phone announcement on Thursday and a nod to the multiple April Fools' Day jokes on the Internet.

The Two-Way
12:10 pm
Mon April 1, 2013

Electric Car Maker Tesla Will See First Quarterly Profit

A Tesla Model S drives outside the Tesla factory in Fremont, Calif., on June 22. The electric car was named Automobile of the Year by Automobile Magazine and Car of the Year by Motor Trend.
Paul Sakuma AP

Originally published on Mon April 1, 2013 12:57 pm

Tesla Motors, the car company on a mission to change the auto industry, announced late Sunday that it's finally turning a profit this quarter.

The company said it will deliver 4,750 of its flagship Model S, its much-lauded four-door, luxury sports sedan. That amount exceeds its earlier estimates of 4,500 cars sold this quarter.

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The Two-Way
9:47 am
Mon April 1, 2013

Patent Ruling In India Could Boost Exports Of Cheap Medicine To Third World

A Novartis office in Mumbai, India.
Divyakant Solanki EPA /LANDOV

Originally published on Mon April 1, 2013 3:17 pm

A decision by India's Supreme Court to reject Novartis AG's bid to patent a version of one cancer drug could lead to more exports of cheap medicine from that country to "poor people across the developing world," the BBC writes.

NPR's Julie McCarthy tells our Newscast Desk that the ruling, announced Monday, ends a six-year legal battle that has been closely watched by pharmaceutical firms, humanitarian aid organizations and generic drug manufacturers.

She adds that:

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Business
2:42 am
Mon April 1, 2013

Novartis Loses Patent Battle In India

Originally published on Fri April 5, 2013 6:50 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a patent ruling that may affect millions.

(SOUNDBITE OF MUSIC)

Business
2:42 am
Mon April 1, 2013

The Last Word In Business

Originally published on Fri April 5, 2013 6:50 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is one of this year's contenders for highest profile April Fools joke.

The video-sharing website YouTube announced yesterday it's shutting down.

DAVID GREENE, HOST:

In a video message, YouTube executives said that the whole site was actually designed as an eight-year contest to find the best video on the web. Well, eight years are up. And now panel of experts, the company said, will spend the next decade watching everything uploaded on the site to choose a winner.

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Business
1:23 am
Mon April 1, 2013

EPA's Push For More Ethanol Could Be Too Little, Too Late

A decal advertising E85 ethanol is displayed on a pump at a gas station in Johnston, Iowa.
Justin Sullivan Getty Images

Originally published on Fri April 5, 2013 6:50 am

The U.S. Environmental Protection Agency could soon issue a final ruling that aims to force oil companies to replace E10, gasoline mixed with 10 percent ethanol, with E15.

This move could come just as widespread support for ethanol, which is made from corn, appears to be eroding.

Mike Mitchell was once a true believer in ethanol as a homegrown solution to foreign oil imports. He owns gas stations, and he went further than most, installing expensive blender pumps that let customers choose E15, E20 and all the way up to E85.

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Arts & Life
1:19 am
Mon April 1, 2013

'A Lovely Feeling': Celebrating Older Women With Fabulous Style

Ilona Royce Smithkin, 93, cut her red hair to make her eyelashes.
Courtesy of Ari Seth Cohen

Originally published on Fri April 5, 2013 6:50 am

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The Two-Way
5:34 am
Sun March 31, 2013

Cause Of Exxon Oil Spill In Arkansas Under Investigation

Originally published on Sun March 31, 2013 1:18 pm

Authorities are investigating what caused an Exxon Mobil pipeline to rupture in Mayflower, Ark., Friday. The oil spill caused 22 homes to be evacuated, according to an Exxon statement.

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Business
2:58 pm
Sat March 30, 2013

How Samsung Became An Industry Giant

Originally published on Sat March 30, 2013 4:25 pm

Transcript

LAURA SULLIVAN, HOST:

If you're just joining us, you're listening to WEEKENDS on ALL THINGS CONSIDERED from NPR News. I'm Laura Sullivan.

Quick trivia question: Name a global superpower technology company, that is the world's biggest seller of smartphones headed by a charismatic CEO surrounded by a cult of personality. I'm guessing most of you just said Apple, right? You would be wrong. The answer is Samsung.

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Books News & Features
2:46 pm
Fri March 29, 2013

Amazon Could Expand Recommendation Services With Goodreads Purchase

Originally published on Fri March 29, 2013 5:55 pm

Transcript

AUDIE CORNISH, HOST:

Online retailer Amazon has acquired Goodreads. It's a popular site where people who love to read exchange reviews and recommendations about books. As NPR's Lynn Neary reports, Amazon now has a powerful new tool for enhancing its customers' ability to find out about books they might want to buy.

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Economy
2:46 pm
Fri March 29, 2013

As Housing Industry Builds Up, Other Sectors Follow

Home Depot is hiring 80,000 employees for its spring season. As the housing market picks up, other industry sectors — like gardening, construction and furniture — move upward, too.
Jewel Samad AFP/Getty Images

Originally published on Fri March 29, 2013 9:31 pm

When fortunes rise in the housing industry — as they currently are — it tends to lift sales for other businesses, too. Home construction, sales and prices are all improving. And according to many analysts, the market is gaining steam.

For nearly two decades, Scott Gillis has owned his own moving company, Great Scott Moving in Hyattsville, Md. Moving high season is just around the corner, which means Gillis is hiring.

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The Two-Way
2:31 pm
Fri March 29, 2013

UPS Agrees To Forfeit $40 Million In Payments From Illegal Online Pharmacies

A UPS truck drives along Grant Street on in San Francisco, California.
Justin Sullivan Getty Images

Originally published on Fri March 29, 2013 2:32 pm

United Parcel Post has agreed to forfeit $40 million it made in payments from pharmacies that shipped controlled substances to Americans without valid prescriptions.

Reuters reports:

"The company also agreed to put a compliance program into place to prevent illegal online pharmacies from distributing drugs through its shipping services in the future, authorities said.

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TED Radio Hour
7:55 am
Fri March 29, 2013

Is Conflict Good For Progress?

"Thinking partners who aren't echo chambers. I wonder how many of us have, or dare to have, such collaborators." - Margaret Heffernan
James Duncan Davidson TED

Originally published on Fri August 23, 2013 7:36 am

Part 4 of the TED Radio Hour episode Making Mistakes.

About Margaret Heffernan's TEDTalk

Most people instinctively avoid conflict, but Margaret Heffernan says good disagreement is central to progress. She argues the best partners aren't echo chambers, and how great teams, relationships and businesses allow people to deeply disagree.

About Margaret Heffernan

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The Two-Way
6:53 am
Fri March 29, 2013

Consumer Spending Rose 0.7 Percent In February; Higher Gas Prices A Factor

Retailers are doing all they can to attract consumers, who drive the economy. (File photo from 2012 of a store window in Santa Monica, Calif.)
Kevork Djansezian Getty Images

Originally published on Fri March 29, 2013 8:30 am

There was a slightly larger-than-expected increase of 0.7 percent in consumer spending from January to February, the Bureau of Economic Analysis says.

Higher gasoline prices, though, were much of the reason for the rise. According to the bureau, if spending is adjusted for inflation the increase was a more modest 0.3 percent — the same as in January. And higher energy costs were behind most of the inflationary pressures last month.

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Business
2:43 am
Fri March 29, 2013

Business News

Originally published on Fri March 29, 2013 9:14 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with a good read.

The social website Goodreads, where readers share reviews and book picks, got picked up yesterday by online retail giant Amazon. The price hasn't been disclosed. The co-founder of Goodreads says after the sale closes next quarter, the site will be integrated with Amazon's Kindle eReader. Goodreads has about 16 million members. Transcript provided by NPR, Copyright NPR.

Business
2:43 am
Fri March 29, 2013

The Last Word In Business

Originally published on Fri March 29, 2013 9:14 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is a takedown of everyone's favorite giant radioactive reptile.

(SOUNDBITE OF MOVIE, "GODZILLA")

MONTAGNE: That pop-culture monster, Godzilla, hatched nearly 60 years ago in a Japanese movie production studio.

DAVID GREENE, HOST:

He stomped through cities battling other giant creatures, from Mothra to King Kong. Well, now The Wall Street Journal reports that Godzilla has been vanquished. His box office attendance records, at least, has been beaten.

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Business
2:43 am
Fri March 29, 2013

BRICS Nations Reveal World Bank Alternative

Originally published on Fri March 29, 2013 9:14 am

Transcript

DAVID GREENE, HOST:

The leaders of five giant economies gathered in South Africa this week for a summit. The group is known as the BRIC nations - that would be Brazil, Russia, India and China. Now South Africa is sometimes in the group, which puts the S in BRICS. The meeting and the grouping are largely an effort to counterbalance what many in the developing world see as the dominance of America and Europe in the global economy.

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Economy
1:07 am
Fri March 29, 2013

Cyprus' Crisis Frames Eurozone As 'Work In Progress'

Banks in Cyprus reopened to customers for the first time in nearly two weeks Thursday, albeit with strict restrictions.
Petros Giannakouris AP

Originally published on Fri March 29, 2013 9:14 am

On the second day since Cyprus reopened its banks, depositors continue to face restrictions on getting at their money. ATM withdrawals are limited to 300 euros a day, and there are limits on how much cash travelers can take abroad.

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Planet Money
1:07 am
Fri March 29, 2013

The Trick To Selling Fancy Wine From New Jersey: Don't Say It's From New Jersey

A sign outside Lou Caracciolo's winery, Amalthea Cellars
Courtesy Amalthea Cellars

Originally published on Fri March 29, 2013 9:14 am

Halfway between the New Jersey Turnpike and the Atlantic City casinos is a little slice of France: Amalthea Cellars. There's an old farmhouse, and a field full of grapevines.

Lou Caracciolo, who founded Amalthea, is walking through the field. "Here's something I put in the ground in 1976," he says. "You have to have a feel for it, and after 30 years I have a pretty good feel for it."

Caracciolo calls himself a hopeless romantic. And, really, you have to be a romantic to try to make a $33 bottle of cabernet sauvignon blend in New Jersey.

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Shots - Health News
1:06 am
Fri March 29, 2013

Obamacare Won't Affect Most 2012 Taxes, Despite Firm's Claim

Taxes this year will be as much of a drag as ever. But not because of the Affordable Care Act.
iStockphoto.com

Originally published on Fri March 29, 2013 8:22 pm

If you haven't done your taxes yet, this ad from H&R Block might make you feel even more anxious.

"The Affordable Care Act means big changes this year when you file your taxes," says the young woman in the ad, with a smug smile. She then claims to have read "all 900 pages" of the law so she can offer you a "solution."

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Around the Nation
3:33 pm
Thu March 28, 2013

In Phoenix, A New Quest For Diverse Public Pool Lifeguards

Originally published on Thu March 28, 2013 4:57 pm

After noticing that most of the lifeguards at the public pools used by Latino and African-American kids were white, the Phoenix aquatics department decided to try to recruit minorities.

More than 90 percent of the students at Alhambra High are black, Latino or Asian. On a recruiting effort there over the winter, the city's Melissa Boyle tells students she's not looking for strong swimmers. Like many under-resourced schools, Alhambra doesn't have a swim team.

"We will work with you in your swimming abilities," Boyle says.

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Business
3:33 pm
Thu March 28, 2013

Farm Bill's Sugar Subsidy More Taxing Than Sweet, Critics Say

While many people enjoy sweet treats — like these chocolate bunnies — the price of a key ingredient has some people bitter. A government subsidy program is criticized for keeping sugar prices too high. But as prices fall, the government may buy sugar to help processors.
Toby Talbot AP

Originally published on Thu March 28, 2013 9:55 pm

While you indulge in some Easter Peeps and chocolates this weekend, you might want to think about all that sugar. No, this isn't a calorie warning. In the U.S., raw sugar can cost twice the world average.

Critics say U.S. sugar policy artificially inflates sugar prices to benefit an exclusive group of processors — even though it leads to higher food prices. But this year, prices fell anyway. Now, the government could be poised to use taxpayer dollars to buy up the excess sugar.

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