Originally published on Tue September 10, 2013 3:41 pm
Las Vegas is adding an eye-catching tourist attraction, in the form of a huge wheel that can take more than 1,000 people on a ride 550 feet into the sky over the city's famed Strip. The main construction of the wheel, called the High Roller, is nearly finished; it is expected to open in early 2014.
NPR's business news begins with some excitement in the bond market.
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INSKEEP: You want to buy something, you may have to borrow. Verizon is creating shock waves with a planned sale of debt. This telecommunications giant is expected to try to raise $20 billion or more tomorrow in what would be the largest sale of its kind. Those bonds would help fund the company's buyout of Vodafone, which owns nearly half Verizon's wireless division. Transcript provided by NPR, Copyright NPR.
And we reported yesterday that Neiman Marcus was in the final stages of closing a big deal. Now the deal is done. The upscale retailer has just made its biggest sale ever - itself. The price: $6 billion. The buyers - the Canada Pension Plan Investment Board and a U.S. private equity group.
And for today's last word in business, let's take a moment to remember one of the nation's most colorful car salesmen. Cal Worthington built an empire from West Coast car dealerships, and became a TV fixture thanks to his ads, which began running in the 1970s.
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UNIDENTIFIED WOMAN: Here's Cal Worthington and his dog, Spot.
UNIDENTIFIED GROUP: (Singing) If you need a better car, go to Cal. For the better deal by car, go to Cal...
Erin Ford graduated from the University of Texas two years ago with a bachelor's degree in petroleum engineering. Recruiters came to campus to woo her. She got a paid summer internship, which turned into a full-time job after she graduated. Now, at age 24, she makes $110,000 a year.
Michael Gardner just graduated from City College in New York with a degree in psychology. He applied for more than 100 jobs, had trouble getting interviews and worked at Home Depot to make ends meet.
Tunisians are silhouetted Jan. 13 behind a poster of those who died in the revolution that overthrew an authoritarian president and started the Arab Spring. More than two years after the revolution, Tunisia is struggling with high unemployment and rising violence in its politics.
Originally published on Mon September 9, 2013 4:54 pm
The Syria conflict was initially part of a wave of uprisings in 2011 known as the Arab Spring, which began in part as a cry for political freedom and more economic opportunity. Fast-forward to today, when unemployment in some of these countries is among the highest in the world.
Originally published on Mon September 9, 2013 1:27 pm
The beauty of the Internet — and the reason for its ubiquitous place in our lives — is that just about anyone can use it to offer services, products or information. But the link between what's out there on the Internet, how fast it gets to us and how much data can get to us is dependent on Internet service providers and the rules that govern them. That's where things get thorny for the principle of net neutrality.
If your eyes are already glazing over, consider this: This debate could affect the speed, quality and cost of your Hulu or Netflix binge-viewing.
Originally published on Mon September 9, 2013 1:38 pm
These are good times for craft beers — and not just for people who like to drink them, but for those who make them. As an example, look to the brewer of Sam Adams. Boston Beer Co.'s soaring stock price has made its founder, Jim Koch, into a billionaire, Bloomberg News reports.
This is TELL ME MORE from NPR News. I'm Michel Martin. You might be ready for some football but many Native Americans say they are already tired of hearing team names they consider racial slurs. We'll hear what the Oneida Indian Nation is trying to do about one of those team names. That's coming up later in the program.
Originally published on Mon September 9, 2013 1:32 pm
Two large investors — Ares Management LLC and the Canada Pension Plan Investment Board — have reached a deal to purchase Neiman Marcus for $6 billion, the companies said Monday. The two buyers will hold equal shares of Neiman, which is based in Dallas.
Oh this is terrible, the soap opera "One Life to Live" may have run out of lives. The company that took the show online recently announced that it is suspending production.
NPR's Sam Sanders tells us why.
SAM SANDERS, BYLINE: This is not the first time "One Life to Live" has been on life support. In 2011, ABC cancelled the show, because of low ratings. But, earlier this year, new episodes of "One Life to Live" came to the Internet - on Hulu - with a snappy new theme song featuring Snoop Dogg.
Opening statements in the court case FCC vs. Verizon begin Monday. This case could determine the FCC's legal ability to enforce the principle known as net neutrality. At issue is whether the federal government may block Internet service providers from slowing or blocking certain online content.
NPR's business news starts with Neiman Marcus almost closing the sale.
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INSKEEP: The luxury retailer is said to be close to an agreement to sell itself - for $6 billion. The Wall Street Journal reports Ares Management and the Canada Pension Plan Investment Board are the joint interested parties looking to make the deal.
EcoATMs take old cellphones, MP3 players and tablets in exchange for cash. But the automated kiosks, operating 650 machines in 40 states, are getting bad reviews from police, who are concerned the machines are a magnet for thieves.
The transaction is fairly simple. The machine walks you through the process, scanning your ID to certify you're over 18 and verify your identity. An ecoATM employee inspects the transaction remotely in real time. Once the seller's identity is verified, the kiosk takes the device and assesses its value. You get the cash, and the device is recycled.
The Chobani Greek yogurt company says the mold that caused some of its products to bloat or swell is not normally harmful to people. On Thursday, Chobani said, "To be extra cautious, we have moved from a voluntary withdrawal to a voluntary recall."
Originally published on Sat September 7, 2013 12:18 pm
After concerns over its product led the Chobani Greek yogurt company to issue a voluntary recall of some packages earlier this week, the New York-based foodmaker now says the mold that was identified as the culprit is not dangerous.
"Through extensive testing and expert consultation, we now know that the mold found in the products we voluntarily recalled this week is a species called Mucor circinelloides," the company says. "Mucor circinelloides is not considered a foodborne pathogen."
Originally published on Fri September 6, 2013 4:36 pm
It sounds like something out of a sitcom; in this case, the original British television version of The Office: job seekers being compelled to dance for a chance at a sales position at a U.K. electronics retailer.
Applicant Alan Bacon, who hoped for a position at a Currys Megastore in Cardiff, was made to do "rubbish robotics in my suit in front of a group of strangers" to the French electronic duo Daft Punk's "Around the World."
This is TELL ME MORE from NPR News. I'm Michel Martin. Later, it sounds like a bad walks-into-a-bar joke, but it wasn't. Recently, a representative of the KKK had a sit-down with members of the NAACP. This took place in Casper, Wyoming. Reporter Jeremy Fugleberg was there for the whole thing, and tells us what happened. That's in just a few minutes.
Originally published on Fri September 6, 2013 10:44 am
A federal judge who found Apple guilty of colluding with publishers in an e-book price-fixing scheme ordered the tech giant on Friday to modify its contracts and submit to oversight to make sure it doesn't happen again.
The injunction issued by U.S. District Judge Denise Cote in Manhattan against orders the iPad maker to hire an external compliance monitor for two years to supervise the company's antitrust compliance efforts, The Associated Press reports.
Cupertino, Calif.-based Apple says it plans to appeal.
Originally published on Fri September 6, 2013 7:35 am
Economists expect to hear that about 180,000 jobs were added to payrolls and that the nation's unemployment rate held steady at 7.4 percent last month when the Bureau of Labor Statistics issues its highly anticipated report about the August employment situation at 8:30 a.m. ET.
And today's last word in business is: Bidding War.
The real estate market has been heating up in some popular locations - like the Hamptons.
STEVE INSKEEP, HOST:
And this week, two Wall Street types competed for a narrow lot bordering both of their properties there. And when we say narrow, the strip of land is almost 1,900 feet long - 1900 feet long and one foot wide.