NPR's Business News begins with BMW looking south. The German automaker has announced plans to spend a billion dollars on a new factory in Mexico. BMW says the plant, it's first in Mexico, will employ about 1,500 people and produce up to 150,000 cars a year. BMW's only other North American factory is in Spartanburg, South Carolina. This spring, BMW said it will invest a billion dollars in that plant as well to increase its production capacity to 450,000 cars by the end of 2016. Transcript provided by NPR, Copyright NPR.
Atlanta-based SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve criminal allegations that it mishandled applications from homeowners seeking loan modifications under a federal program.
As the Web turns 25, it's becoming a terrific place if you're a bot.
It began as a tool for human communication, but now, over 60 percent of the traffic on the Web is automated applications called bots talking to other bots, according to one study. And experts say about half of those bots are bad.
From NPR News this is ALL THINGS CONSIDERED. I'm Robert Siegel.
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And I'm Melissa Block. A debate has been raging in Washington, D.C. over the future of an obscure federal agency - the Export-Import Bank. And all the way across the country in the other Washington - Washington state - businesses, labor unions and politicians say the bank's demise would have severe consequences. Ashley Gross of member station KPLU in Seattle reports.
For years, the main federal transportation program has been spending more money than it takes in. This year, the Congressional Budget Office estimates the Transportation Department will disburse $45 billion while collecting only $33 billion for its Highway Trust Fund.
As a result, Transportation Secretary Anthony Foxx warned states on Tuesday that they will start seeing cuts of 28 percent in federal funding for roads and bridges next month unless Congress comes up with some extra money.
This spring, the U.S. finally gained back all the jobs that were lost during the recession. In other words, the number of jobs in the country is now higher than it was back in January 2008, at the beginning of the recession.
But the jobs are different — and they're in different places. In a handful of states, there are lots more jobs than there used to be. But in many others, there are still far fewer jobs than there were before the recession.
German lawmakers have approved a minimum hourly wage of 8.50 euros, backing a controversial proposal that would cover many workers starting next year. The amount is equal to more than $11.50 at today's exchange rate.
What we know as the World Wide Web — the main way by which most of us access the Internet — just turned 25 this year. Its existence has allowed for all kinds of learning and free expression, coding and making, rule-breaking and platform-making.
Analysts' expectations of continued growth in the jobs report for June were surpassed by federal data issued this morning, as the Labor Department says U.S. employers added 288,000 jobs last month. The government released the numbers one day early because of the July 4 holiday.
Update at 8:35 a.m. ET: 288,000 Jobs Added
"Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent," the Bureau of Labor Statistics says.
We'll get an important snapshot of the U.S. economy today. The job market in this country has been racking up some healthy gains over the past few months. That trend is expected to continue. We'll find out if it does when the Labor Department releases its monthly jobs report later this morning. Here's a preview from NPR's Jim Zarroli.
Now let's get one more perspective on a deeply polarized debate, a debate set off by this week's Supreme Court ruling in a case brought by the craft store chain Hobby Lobby. The court found that some business owners with religious objections to contraceptives cannot be required to provide them to their employees with their health insurance plans. But does that ruling end there? Our Steve Inskeep digs deeper into what's fueling this debate.
If terrorists were to attack a U.S. city again, who would pay for catastrophic damage? In the aftermath of the Sept. 11, 2001, attacks on New York, Congress provided the answer: the Terrorism Risk Insurance Act.
Yesterday, we reported on a legal tussle over control of the country's top center of strawberry breeding, at the University of California, Davis. But there's a backstory to that battle. It involves the peculiar nature of the UC Davis strawberry program.
Dane Atkinson is a tech entrepreneur who started his first company at 17 and has run almost a dozen more since. He's so friendly that he manages to sound cheerful while explaining the art of hiring workers for as little money possible.
"I have on many occasions paid the exact same skill set wildly different fees because I was able to negotiate with one person better than another," he says.
Some employees were worth $70,000 a year, but only asked for $50,000 a year. So, he says, he paid them $50,000 a year.
From NPR News it's ALL THINGS CONSIDERED. I'm Melissa Block.
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And I'm Robert Siegel. It's the year of recalls in the auto industry, especially for General Motors. This week GM announced another slew of them, bringing its total to 54 recalls this year. Other automakers are also recalling more vehicles, but it's at GM where the pace is so fast, that it's hard to keep track. But NPR's Sonari Glinton is keeping track and he now joins us to talk about how the company is handling all of these recalls. Hi, Sonari.
There has been a lot of talk of disrupting the food system lately. Bill Gates, among others, has said the way we produce meat is hugely inefficient — and is crying for Silicon Valley-style disruption. That's why he's investing in chicken-less eggs.
President Obama has nominated a former Army ranger to take over the troubled Department of Veterans Affairs. Robert McDonald is also the former CEO of Procter & Gamble. He spoke on Monday about the challenges he'll face if confirmed to head the VA.
ROBERT MCDONALD: At Procter & Gamble, we always focus on our customer. At the VA, the veteran is our customer. And we must all focus all day, every day on getting them the benefits and the care that they so earned.
It makes some sense that young people might work less than their older counterparts. They are figuring out their lives, going in and out of school and making more short-term plans.
But a whopping 5.8 million young people are neither in school nor working. It is "a completely different situation than we've seen in the past," says Elisabeth Jacobs, the senior director for policy and academic programs at the Washington Center for Equitable Growth.