Business

Analysis
3:08 am
Tue October 15, 2013

Columnist Doubts Parties Can Resolve Fundamental Differences

Steve Inskeep talks to Jonathan Chait, a commentator for New York magazine about how liberals are viewing the current budget negotiations in Congress, and if they might be willing to compromise on a deal.

Politics
3:03 am
Tue October 15, 2013

House Waits For Details On Senate Bipartisan Proposal

With the debt ceiling deadline looming just two days away, Senate leaders say they're close to a deal that would reopen the government and avert default. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell have been leading bipartisan talks on a way out of the deadlock. Even if a bipartisan agreement clears the Senate, it will likely be a hard sell to House Republicans.

Business
2:50 am
Tue October 15, 2013

Burberry CEO To Leave For Job At Apple

Originally published on Tue October 15, 2013 4:58 am

Angela Ahrendts will oversee the expansion of Apple retail and online stores. It's a newly created position for Ahrendts, who will report directly to Apple CEO Tim Cook. Since taking over Burberry in 2006, Ahrendts has nearly tripled revenue for the company — known for its distinctive tartan patterns.

Business
2:50 am
Tue October 15, 2013

Art Buyers Didn't Know They Were Getting Banksy Cheap

Originally published on Tue October 15, 2013 6:54 am

A street vendor outside New York's Central Park sold eight prints by the mysterious British street artist who goes by the name Banksy. Some of Banksy's most recognizable works sold for just $60. Many of the pieces are estimated to be worth more than $30,000. It was part of a social experiment.

NPR Story
2:38 am
Tue October 15, 2013

Harvest Brings Farm Families Together, Redefines Commitment

Originally published on Tue October 15, 2013 3:36 am

Transcript

STEVE INSKEEP, HOST:

Now, here's a reality about farming. From the earliest days of this country, it's been an uncertain business, and for many decades, national policies have been designed to smooth out that risk. But, of course, the risk never entirely goes away. You can never control the rain, for example, and lately the uncertainty has been growing. Corn prices are down. The farm bill is stalled in Congress and there's a sense that good times may be fading.

From Nebraska, Grant Gerlock of NET News brings us his report.

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All Tech Considered
12:37 am
Tue October 15, 2013

A Company's Tweets Can Help Make It Creditworthy

Courtesy of Kabbage

Originally published on Tue October 15, 2013 11:25 am

For many online and other small businesses, getting a loan or a big cash advance is tough. Banks and other traditional lenders are often leery of those without years of financial statements and solid credit scores.

But some lenders and other financial services companies are beginning to assess credit risk differently — using criteria you might not expect.

Jeffrey Grossman is an acupuncturist in Bellingham, Wash. He's also a small businessman. He creates media marketing materials for other acupuncturists hoping to expand their practice.

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The Two-Way
3:31 pm
Mon October 14, 2013

Today Is The Last Day For The 'International Herald Tribune'

An image showing the final front page of The International Herald Tribune, published Monday Oct. 14. The newspaper will become The International New York Times Tuesday.
New York Times

Originally published on Mon October 14, 2013 10:49 pm

Monday marks the last day of newsstand sales of the International Herald Tribune, the newspaper that was once instrumental in keeping American expatriates up to date on their homeland. On Tuesday, the paper will bear a new name: The International New York Times.

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Economy
2:51 pm
Mon October 14, 2013

Three Americans Win Nobel Economics Prize

Originally published on Mon October 14, 2013 4:19 pm

Transcript

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

The Nobel Memorial Prize in Economics went to three American professors today. In announcing the honor, the Royal Swedish Academy of Sciences said the men all contribute to our understanding of how markets price things like stocks and homes. But as NPR's Dan Bobkoff reports, that doesn't mean the three economists always agree.

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World
2:51 pm
Mon October 14, 2013

Lac-Mégantic Blast Leaves Impact On Town, Rail Industry

Crews are scrambling to clean up toxic contamination in Lac-Mégantic, Quebec, and many locals have been forced out of their homes and businesses for at least a year.
Brian Mann NCPR

Originally published on Mon October 14, 2013 4:19 pm

Three months ago, a train carrying American crude oil derailed and exploded in the heart of Lac-Mégantic, Quebec, killing 47 people.

Local leaders now say recovering from the disaster will take much more time, effort, and money than they expected.

Industry experts say the accident could change the way oil and other dangerous chemicals are transported on trains in North America.

An Empty Village

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All Tech Considered
12:10 pm
Mon October 14, 2013

'Menstrual Man' Had An Idea To Help Indian Women

Arunachalam Muruganantham installs his machine in a village in Chhattisgarh, India.
Amit Virmani

Originally published on Fri October 18, 2013 1:02 pm

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Planet Money
7:45 am
Mon October 14, 2013

Economics Nobel: Nobody Knows What Stocks Are Going To Do Today

The Nobel Foundation

If you want to honor today's Nobel laureates in economics, turn off CNBC and ignore everyone who says they know what the stock market is going to do today, tomorrow, or next week.

The award went to three economists — Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller — for their work studying asset prices.

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The Two-Way
6:50 am
Mon October 14, 2013

Americans Win Economics Nobel For Interpreting Stock Prices

Originally published on Mon October 14, 2013 7:12 am

Three American professors have won the 2013 Nobel Prize for Economics for their work in identifying long-term trends in the prices of stocks and bonds, based in part on analyzing the role of risk.

Professors Robert J. Shiller of Yale University and Eugene F. Fama and Lars Peter Hansen, both of the University of Chicago, won "for their empirical analysis of asset prices," the Royal Swedish Academy said in announcing the honor Monday.

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Business
5:46 am
Mon October 14, 2013

3 American Economists Win Nobel Prize

Transcript

STEVE INSKEEP, HOST:

OK, the Nobel Memorial Prize in economics was awarded today to three American men - Eugene Fama, Lars Peter Hansen, Robert Shiller. The Nobel committee cited their research in the predictability of stock prices, as well as other asset prices. We're going to find out more now from Zoe Chace of NPR's Planet Money team. She's on the line. Hi, Zoe.

ZOE CHACE, BYLINE: Hi, Steve.

INSKEEP: Each of these guy's names is a little familiar, I think to the layman, especially maybe Shiller. Who are they?

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Europe
5:29 am
Mon October 14, 2013

Three U.S. Economists Win Nobel Prize

Americans Eugene Fama, Lars Peter Hansen and Robert Shiller won the Nobel prize for economics on Monday for developing new methods to study trends in asset markets.

The Royal Swedish Academy of Sciences said the three had laid the foundation of the current understanding of asset prices.

While it's hard to predict whether stock or bond prices will go up or down in the short term, it's possible to foresee movements over periods of three years or longer, the academy said.

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Asia
2:31 am
Mon October 14, 2013

China Experiences Surprise Drop In Exports

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a slide in Chinese exports.

(SOUNDBITE OF MUSIC)

INSKEEP: Chinese exports showed a surprise drop last month, according to government figures.

As NPR's Frank Langfitt reports, the September numbers underscore some of the challenges facing the world's second-largest economy.

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Economy
2:29 am
Mon October 14, 2013

U.S. Political Standoff Hangs Over IMF, World Bank Meetings

The world's top financial officials were in Washington, D.C. over the weekend for the annual meetings of the International Monetary Fund and the World Bank. The partial government shutdown and the debt ceiling standoff were hot topics among the visiting world financial leaders.

Business
2:21 am
Mon October 14, 2013

Research: 'Inner Speech' Can Be Disturbed By Chewing

Originally published on Mon October 14, 2013 2:53 am

Social science research shows movie goers are less receptive to ads if they're munching on popcorn. When we watch an ad on the screen, we subconsciously mouth the name we're hearing. And this "inner speech" makes an imprint on our brain. But if you're chewing your way through the ads, your mouth and brain don't go through those motions, and the message may not stay with you.

Around the Nation
2:21 am
Mon October 14, 2013

Shutdown Hinders S.D. Post-Blizzard Cleanup

Heavy and wet snow weighs down tree branches on the west side of Rapid City, S.D. Earlier this month, a fierce October snowstorm hit ranchers in the state hard.
Kristina Barker Reuters /Landov

Originally published on Mon October 14, 2013 6:58 am

A freak October blizzard earlier this month killed tens of thousands of cattle in South Dakota.

The number of animals is hard to confirm. In part, because the federal agency tasked with tallying livestock losses after a disaster is closed during the partial government shutdown.

October is often a great weather month to be in South Dakota, which is one reason why the early October blizzard caught so many off guard.

Todd Collins lost a fifth of his herd in this storm. "My dad is 80 years old, and he says he's never seen a killer storm the first of October."

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Media
2:21 am
Mon October 14, 2013

Readers Lament 'International Herald Tribune' Name Change

Transcript

DAVID GREENE, HOST:

The International Herald Tribune is about to change its name. In these difficult days for print journalism, fans of the Paris-based English newspaper are grateful that it's still being published. But the change is prompting a good bit of nostalgia.

NPR's Eleanor Beardsley in Paris explains why.

(SOUNDBITE OF FOOTSTEPS)

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Planet Money
2:21 am
Mon October 14, 2013

Prize In Economics A Latecomer To Nobel Lineup

Transcript

STEVE INSKEEP, HOST:

Later this morning, the winner of the Nobel Prize in Economics will be announced in Sweden. Unlike some other Nobel Prizes we've heard about in recent days, this one comes with an asterisk. And NPR's Robert Smith is covering the story. He's in New York. Hi, Robert.

ROBERT SMITH, BYLINE: Hey, it's good to be here.

INSKEEP: Why is there an asterisk over the Nobel Prize in Economics?

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Parallels
1:21 am
Mon October 14, 2013

Iran's Leaders Send Sobering Message: No Quick Economic Fix

Two Iranian textile merchants wait for customers in Tehran's main bazaar. President Hassan Rouhani has raised hopes by reaching out to the West and promising to work for an end to sanctions. But his team has cautioned that the country's economic problems have deep roots.
Vahid Salemi AP

Originally published on Mon October 14, 2013 2:21 am

The U.S. and its Western allies have not been able to win the nuclear concessions they have sought from Iran. But they have been able to inflict considerable economic pain through sanctions.

But now, Iran's call for a nuclear agreement and an end to sanctions has raised hopes among Iranians that better economic times may be ahead. The Iranian currency has stabilized somewhat since the election of President Hassan Rouhani, although inflation and unemployment remain high.

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Business
3:53 pm
Sun October 13, 2013

15 Years Later, Where Did All The Cigarette Money Go?

So far, the tobacco industry has paid more than $100 billion to state governments as part of a settlement. While smoking is down among young people and even adults in some areas, it's still unclear where much of that money has gone.
Carolyn Kaster AP

Originally published on Tue October 15, 2013 10:12 am

Fifteen years after tobacco companies agreed to pay billions of dollars in fines in what is still the largest civil litigation settlement in U.S. history, it's unclear how state governments are using much of that money.

So far tobacco companies have paid more than $100 billion to state governments as part of the 25-year, $246 billion settlement.

Read more
Business
3:19 pm
Sun October 13, 2013

Shortage Of Workers Hampers Chili Harvest In New Mexico

Originally published on Sun October 13, 2013 4:12 pm

Transcript

ARUN RATH, HOST:

It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.

Let's talk chili peppers. It's harvest time in New Mexico where the iconic crop has been grown for centuries. New Mexico still produces more chili peppers than any other American state. But production in the U.S. is a fraction of what's produced in India and China, countries with large pools of labor.

NPR's Ted Robbins reports that farmers in New Mexico could increase their harvest if they had the people to do it.

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Planet Money
7:56 am
Sun October 13, 2013

Models, Rules And High School Dropouts: A Guide To The Economics Nobel

The Nobel Foundation

Originally published on Sun October 13, 2013 1:27 pm

While a few gamblers bet real money on potential Nobel Prize winners, at Planet Money we're content to merely speculate. We're particularly interested in who might win the economics prize, which will be announced Monday morning.

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Economy
3:07 pm
Sat October 12, 2013

How Washington Looks From A Global Financial Perspective

Zanny Minton Beddoes, the economics editor for The Economist, argues that the stalled budget negotiations and the government shutdown have already harmed U.S. standing in the world. She explains her position to host Arun Rath.

The Two-Way
2:25 pm
Sat October 12, 2013

North Dakota's Delay In Reporting Oil Spill Raises Questions

Cleanup went on Friday at the site of an oil pipeline leak and spill north of Tioga, N.D. Officials took nearly two weeks to tell the public about the break in a Tesoro Corp. pipeline.
Kevin Cederstrom AP

The handling of an oil spill in North Dakota is raising questions, after a state agency waited to tell the public it had taken place. A wheat farmer was the first to recognize the spill had happened; it became public knowledge nearly two weeks later.

Here's how the AP describes the spill's discovery:

"Farmer Steve Jensen says he smelled the crude for days before the tires on his combines were coated in it. At the apparent break in the Tesoro Corp.'s underground pipeline, the oil was 'spewing and bubbling 6 inches high,' he said in a telephone interview Thursday."

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Business
3:42 pm
Fri October 11, 2013

At Global Gathering, Many Worry About U.S. Strength

The annual meetings of the International Monetary Fund and World Bank began Thursday in Washington amid a partial government shutdown. Many delegates are concerned that the U.S. budget impasse may threaten global economic stability.
Jose Luis Magana AP

Originally published on Sat October 12, 2013 9:19 am

When you invite guests over, you probably straighten up the house to make a good impression.

This week, the nation's capital is welcoming guests from all over the world. Thousands of finance ministers, central bankers, scholars and industry leaders are in Washington, D.C., for the annual meetings of the International Monetary Fund and World Bank.

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Business
3:22 pm
Fri October 11, 2013

JP Morgan Posts Loss Ahead Of Expected Fines

Originally published on Fri October 11, 2013 4:38 pm

Transcript

MELISSA BLOCK, HOST:

Today, a rare quarterly loss for the nation's biggest bank, JP Morgan Chase. As NPR's Dan Bobkoff reports, the bank is spending billions of dollars on litigation.

DAN BOBKOFF, BYLINE: It's not in JP Morgan Chase's nature to lose money. They made profits all through the financial crisis, bolstering both the reputations of the bank and its CEO Jamie Dimon. So a $380 million loss last quarter is noteworthy.

JAMES DIMON: It's very painful, OK, for me personally.

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The Salt
1:45 pm
Fri October 11, 2013

McDonald's President Was Caught Off Guard By Low-Wage, Single Mom

McDonald's USA President Jeff Stratton responds to an employee who burst into an event.
YouTube screengrab

Originally published on Tue October 15, 2013 10:11 am

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The Salt
12:08 pm
Fri October 11, 2013

What's In That Chicken Nugget? Maybe You Don't Want To Know

Chicken Nuggets, from artist Banksy's 2008 installation "The Village Pet Store and Charcoal Grill" in New York City.
Mario Tama Getty Images

Originally published on Sat October 12, 2013 10:19 am

Chicken nuggets: Call 'em tasty, call 'em crunchy, call 'em quick and convenient. But maybe you shouldn't call them "chicken."

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