Business

The Salt
4:12 am
Sun October 20, 2013

Unleashed On Halloween, Monster Cereals Haunt Hoarders

This Halloween season, the three big Monster Cereals will be joined by Frute Brute and Fruity Yummy Mummy, which haven't been on the market in decades.
Dan Pashman

Originally published on Mon October 21, 2013 1:11 pm

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The Two-Way
1:23 pm
Sat October 19, 2013

JPMorgan Strikes Tentative $13B Mortgages Settlement

JP Morgan Chase & Company headquarters in New York.
Emmanuel Dunand AFP/Getty Images

Originally published on Sat October 19, 2013 3:28 pm

In what would be the largest such settlement in U.S. history, JPMorgan Chase & Co. has reportedly reached a tentative deal with the Justice Department that would see the bank pay $13 billion to settle civil charges related to wrongdoing by some of its units just before and during the housing crisis.

The deal, sources tell news outlets including NPR, would not absolve JPMorgan from possible criminal liability.

Word of the tentative agreement emerged around 3 p.m. ET. Saturday. We posted when the news broke and followed with background and more details.

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Politics
4:44 am
Sat October 19, 2013

'It Takes A Crisis': How '73 Embargo Fueled Change In U.S.

Drivers and a man pushing a lawnmower line up at gas station in San Jose, Calif., in March 1974.
AP

Originally published on Fri October 25, 2013 5:26 pm

Americans started thinking differently about U.S. dependence on imported oil 40 years ago this Sunday. Decades later, the U.S. is in the midst of a homegrown energy boom.

The oil embargo began in 1973. The United States had long taken cheap and plentiful oil for granted when Saudi Arabia shocked the country by suddenly cutting off all direct oil shipments in retaliation for U.S. support of Israel. Other Arab countries followed suit.

Prices soared. Gasoline lines stretched for blocks. Richard Nixon became the first of many U.S. presidents to call for energy independence.

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Business
4:44 am
Sat October 19, 2013

Business Leaders Decry The Economic Cost Of Uncertainty

Originally published on Fri October 25, 2013 10:08 am

Running a company is like driving a car. You need to be able to see what's coming down the road. The dysfunction in Washington has created a fog, and when driving in the fog, you have to slow down.

That's basically what's happening at thousands of companies around the country.

Bob Mosey, chairman of the National Tooling and Machining Association, bemoans the "uncertainty of not being able to plan for the future."

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All Tech Considered
4:44 am
Sat October 19, 2013

Credit Cards Under Pressure To Police Online Expression

Some advocacy groups say credit card companies should stop doing business with websites that promote controversial views or policy positions.
iStockphoto.com

Originally published on Wed November 6, 2013 12:01 pm

Earlier this month, major credit card processors including MasterCard, Visa and America Express announced they would stop processing payments to websites that collect and publish mug shots online. The sites say they are providing a public service, but they make their money by charging people a fee to remove these embarrassing photos from the Internet.

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The Two-Way
3:06 pm
Fri October 18, 2013

Google's Stock Closes Above $1,000

Attendees line up to enter the Google I/O developers conference at the Moscone Center on May 15, 2013 in San Francisco.
Justin Sullivan Getty Images

Originally published on Fri October 18, 2013 3:11 pm

Google's stock closed at $1,011.41 today, joining an exclusive, over-$1,000 club that includes Priceline.com and Seaboard Corp., which produces turkey and hogs.

The rally for the world's largest search engine, Bloomberg reports, comes on the heels of optimism about the company's advertising offerings.

Bloomberg reports:

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Economy
2:43 pm
Fri October 18, 2013

Economists Await Shutdown-Delayed Jobs Report

Originally published on Fri October 18, 2013 8:09 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

One effect of the 16-day government shutdown is that economists have had only a murky picture of the state of the economy. That's because the government is one of the most important sources of economic data. And as NPR's Dan Bobkoff reports, most of the people responsible for compiling and analyzing the numbers were furloughed, even barred from checking their email.

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The Salt
1:58 pm
Fri October 18, 2013

A Fight Over Vineyards Pits Redwoods Against Red Wine

Environmental groups are fighting to stop the leveling of 154 acres of coast redwoods and Douglas firs to make way for grapevines.
Courtesy Friends of the Gualala River

Originally published on Fri October 18, 2013 4:18 pm

In the California wine mecca of Sonoma County, climate change is pitting redwood lovers against red wine lovers.

This Friday morning, a coalition of environmental groups are in a Santa Rosa, Calif., courtroom fighting to stop a Spanish-owned winery from leveling 154 acres of coast redwoods and Douglas firs to make way for grapevines.

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All Tech Considered
11:28 am
Fri October 18, 2013

Tech Week That Was: Surveillance Scope, Apple's Retail Hire

Burberry CEO Angela Ahrendts is moving to Apple, where she will head the company's retail division.
Mark Lennihan AP

Originally published on Fri October 18, 2013 12:59 pm

It's time for your Friday week in review, a look at the big headlines and conversation in the tech and culture space.

ICYMI

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The Two-Way
11:08 am
Fri October 18, 2013

India Arrests Crew Of U.S. Ship For Carrying Weapons

Indian policemen escort crew members of a U.S.-owned ship MV Seaman Guard Ohio outside a court in Tuticorin, in the southern Indian state of Tamil Nadu, on Friday.
AP

Originally published on Fri October 18, 2013 1:56 pm

The crew of a U.S.-owned ship has been arrested at a port in India for allegedly trying to enter territorial waters illegally carrying what's been described as a "huge cache" of weapons.

The 35 crew members on MV Seaman Guard Ohio, owned by Washington, D.C.-based AdvanFort, were detained on Saturday by the Indian Coast Guard. The vessel is currently at anchor in the port of Tuticorin in the southeastern state of Tamil Nadu.

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Business
10:23 am
Fri October 18, 2013

Google Shares Top $1,000 For First Time

Transcript

DAVID GREENE, HOST:

NPR's business news start with Google at an all-time high.

(SOUNDBITE OF MUSIC)

GREENE: The Internet giant shares soared to new heights this morning, topping $1,000 a share. Google reported better than expected third-quarter sales and profits, reporting a profit of nearly $3 billion during the third quarter, up nearly 40 percent from a year earlier.

It is now the fourth company trading on a major exchange to have a stock price of $1,000 or more. Transcript provided by NPR, Copyright NPR.

The Two-Way
6:39 am
Fri October 18, 2013

Can GOP, Democrats Come Together On A Budget By Dec. 13?

Members of the bipartisan budget conference (from left): Sen. Jeff Sessions, Rep. Paul Ryan, Sen. Patty Murray and Rep. Chris Van Hollen. Can they reach a deal by Dec. 13?
Win McNamee Getty Images

Originally published on Fri October 18, 2013 9:46 am

Now that the government has reopened, attention turns to the next phase of the spending fight, a battle that is far from over.

The bill that President Obama signed early Thursday provides only a temporary respite to the partisan tussles that have perennially plagued the budget process. The government stays open through Jan. 15 and the federal borrowing authority is safe until Feb. 7. After that, all bets are off.

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Politics
2:33 am
Fri October 18, 2013

Conference Committee Charged With Budget Compromise

Originally published on Fri October 18, 2013 10:23 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION, from NPR News. Good morning. I'm David Greene.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

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Business
2:03 am
Fri October 18, 2013

AOL Takes No. 1 Spot For Online Video Ads

Originally published on Fri October 18, 2013 10:23 am

AOL, an online company many had given up for dead, is making a comeback. It recently acquired Adap.TV, a company that automates the purchase of video ads. And in September, it topped Google in one category: it had the most video ads watched, with 3.7 billion views.

Politics
2:03 am
Fri October 18, 2013

After Shutdown Dust Clears, Where Does Boehner Stand?

Originally published on Fri October 18, 2013 10:23 am

Transcript

RENEE MONTAGNE, HOST:

This is MORNING EDITION from NPR News. I'm Renee Montagne.

DAVID GREENE, HOST:

And I'm David Greene. Good morning. Today marks the second day of relative normalcy following 16 days of government shutdown and the prospect of a U.S. default on its debts. A pivotal player in this drama was House Speaker John Boehner. He was portrayed alternately as a victim of Tea Party hardliners, as a figurehead haplessly stumbling through this crisis, or as a clever leader who had the ending figured out all along.

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Business
2:03 am
Fri October 18, 2013

Van Halen Sues Over Use Of Band's Name

Originally published on Fri October 18, 2013 10:23 am

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

Our last word in business today is: "Ain't Talkin' 'bout Love."

It's a classic from Van Halen, a band that brings to mind blistering guitar solos and sold-out arenas.

RENEE MONTAGNE, HOST:

But baby blankets and armoires, probably not. That's the gist of a lawsuit filed by the band against drummer Alex Van Halen's ex-wife.

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Business
2:03 am
Fri October 18, 2013

Apple Hires Burberry CEO To Improve Customer Experience

Originally published on Fri October 18, 2013 10:23 am

Transcript

RENEE MONTAGNE, HOST:

Two industries on opposite sides of the Atlantic this week were rocked by the same piece of news: Angela Ahrendts, the American who revived the fortunes of British fashion label Burberry - famous for its tartan rainwear - was hired away by Apple. Or, as one British paper put it: from Mackintoshes to Macs.

Vicki Barker reports from London.

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Planet Money
1:26 am
Fri October 18, 2013

I Lent $999.78 To The Federal Government*

NPR

Originally published on Fri October 18, 2013 11:29 am

Earlier this week, I bought a Treasury bill.

Everybody calls Treasury bills T-bills, and they work like this: The government promises to pay holders of T-bills a specific amount on a specific day in the near future. For the T-bill I bought, the government promised to pay $1,000 on Oct. 31.

I bought the T-bill on Tuesday, before Congress had made the debt-ceiling deal, so it was unclear whether I would get paid back on time.

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Author Interviews
1:18 am
Fri October 18, 2013

Greenspan: 'I Probably Could Have Caught' Economic Crises

Alan Greenspan served as chairman of the Federal Reserve from 1987 to 2006, the second-longest tenure as chairman in the Fed's history.
Courtesy of Alan Greenspan

Originally published on Fri October 18, 2013 10:23 am

Alan Greenspan was celebrated as a master of monetary policy during his long chairmanship of the Federal Reserve, from 1987 to 2006. But policies put in place during Greenspan's tenure have been blamed by some for the financial crisis that began shortly after he left, and the so-called Great Recession.

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The Two-Way
3:35 pm
Thu October 17, 2013

September Jobs Report To Come Out Tuesday

Following the economy can be confusing.

But at least one thing has long been certain: the Bureau of Labor Statistics will release its monthly jobs report at exactly 8:30 a.m. on a Friday.

Next week, Tuesday will feel like a Friday.

That's because late Thursday afternoon, the BLS updated its post-shutdown schedule for data releases. The new schedule shows that the long-delayed and much-anticipated September employment report will come out on Tuesday.

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Economy
1:58 pm
Thu October 17, 2013

Economists Fear 'Flying Blind' Without Government Data

The Federal Reserve headquarters in Washington, D.C., where the federal government shutdown left policymakers without key economic data.
J. David Ake AP

Originally published on Thu October 17, 2013 2:51 pm

Talk to economists about the government shutdown's impact on their forecasts and you'll hear this phrase again and again:

Flying blind.

For economists and investors, "at this moment, we are flying blind," said Alan Greenspan, former chairman of the Federal Reserve and now president of Greenspan Associates LLC, a consulting firm.

Greenspan is not alone in feeling a little lost without the compass of government reports.

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Planet Money
11:06 am
Thu October 17, 2013

U.S. Is The World's Largest Producer Of Natural Gas. Here's What That Means

Quoctrung Bui

Originally published on Fri October 18, 2013 10:37 pm

Natural gas production in the U.S. is going through the roof. The U.S. now produces more natural gas than any country on Earth, according to a recent report from the U.S. Energy Information Administration.

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The Two-Way
9:39 am
Thu October 17, 2013

Obama Calls For Budget, Immigration Reform By Year's End

At the White House on Thursday, President Obama said "the American people are completely fed up with Washington."
Charles Dharapak AP

Originally published on Thu October 17, 2013 10:50 am

President Obama slammed the partisan standoff "spectacle" that he said had damaged the economy and America's international credibility, and called on Congress to pass a comprehensive budget, immigration reform and a farm bill by year's end.

He praised "Democrats and responsible Republicans who came together" to pass a last-minute deal to reverse a partial government shutdown and narrowly avert the expiration of the federal borrowing authority.

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It's All Politics
9:12 am
Thu October 17, 2013

10 Takeaways From The Fiscal Fight

With the shutdown-debt ceiling fight over, Speaker John Boehner, R-Ohio, appeared to strengthen his hand within the House GOP caucus but weaken it outside that group.
Evan Vucci AP

Originally published on Thu October 17, 2013 10:50 am

With the double crises of a partial government shutdown and a potential debt default resolved, it's a good time to consider some of the lessons we learned from the dysfunction and drama of recent weeks.

Here are 10 of them:

Shutting Down The Government Is Not A Winning Political Strategy

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The Two-Way
8:29 am
Thu October 17, 2013

Economists: Shutdown Will Shave Half-Percent From Quarterly GDP

Originally published on Thu October 17, 2013 1:06 pm

The government shutdown has taken a toll on the nation's economy and despite a deal that sidesteps a debt default and restarts the government (at least for a few months), growth forecasts for the last quarter of the year are being scaled back.

Economist Mark Zandi of Moody's Analytics has shaved his gross domestic product forecast from a 2.6 percent annualized rate to 2.1 percent for the last three months of the calendar year.

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Business
2:38 am
Thu October 17, 2013

U.S. Economy Takes A Hit After Partial Government Shutdown

Originally published on Thu October 17, 2013 8:23 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with a hit to the U.S. economy.

(SOUNDBITE OF MUSIC)

MONTAGNE: Standard and Poor's estimates that the 16-day-long government shutdown cost the U.S. economy roughly $24 billion. Because of that, the credit rating agency says it is lowering its estimate for U.S. economic growth in the fourth quarter to just over 2 percent. That's down .6 percentage points from its estimate before the shutdown. Transcript provided by NPR, Copyright NPR.

Business
2:38 am
Thu October 17, 2013

British Police Auction Off Some Confiscated Luxury Assets

Originally published on Thu October 17, 2013 8:23 am

Transcript

RENEE MONTAGNE, HOST:

And our last word in business today is: diamonds on your timepiece.

Police in Great Britain are selling the luxury assets of Vincent Graham. He operated a drug ring in England before police arrested him a couple of years ago. Upon his arrest, police also seized some of Graham's personal belongings: jet skis, motorcycles, a Lamborghini and other luxury cars, items that Graham will no longer needs now that he's in prison.

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Politics
2:38 am
Thu October 17, 2013

Defeat Isn't Easy For Conservative Republicans To Admit

Originally published on Thu October 17, 2013 8:23 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

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Politics
2:38 am
Thu October 17, 2013

After 16 Days, All Federal Employees Are To Report To Work

Originally published on Thu October 17, 2013 8:23 am

Now that the government shutdown is over, federal workers have been ordered back on the job. In Washington D.C., there's been a visible increase in traffic.

Politics
2:38 am
Thu October 17, 2013

Obama Sticks With 'No Ransom' Strategy, Comes Out Ahead

Originally published on Thu October 17, 2013 8:23 am

Transcript

STEVE INSKEEP, HOST:

Throughout the battle over the government shutdown and debt limit, President Obama repeated his view many times: So long as Republicans were threatening default, he would not negotiate.

PRESIDENT BARACK OBAMA: You don't negotiate by putting a gun to the other person's head.

INSKEEP: That strategy paid off for the Whitehouse, but it's not a strategy the president comes by naturally - as NPR's Scott Horsley reports.

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