Internet Corporation for Assigned Names and Numbers, ICANN, president and chief executive Rod Beckstrom, speaks on expanding the number of domain name suffixes during a press conference in London in 2012.
This is WEEKEND EDITION from NPR News. I'm Don Gonyea. Some news this week got us thinking about how radically our viewing habits are changing. The broadband service company, Sandvine, released a study that shows that Netflix and YouTube now account for more than half of the data we consume on fixed networks, which is to say at home or work. It's just one more bit of evidence that Americans are increasingly turning to online video sources for news and entertainment, rather than TV, which mean advertisers have to do the same.
Originally published on Fri November 15, 2013 4:15 pm
JPMorgan Chase & Co. has agreed to pay $4.5 billion to settle claims from investors who lost money on mortgage-backed securities that went sour as the U.S. housing market imploded.
The settlement is with 21 institutional investors and is separate from the $13-billion-dollar agreement reached last month with the Department of Justice to settle civil charges related to wrongdoing by some of JPMorgan's units.
A year and half ago, Baruch Herzfeld, an entrepreneur in New York City, had a novel idea: connect immigrants in the U.S. with radio stations in their home country using nothing more than a cheap cellphone.
Recent disclosures about NSA surveillance have affected U.S. relations with allies and tainted America's image around the world. Now the fallout seems to be creeping into the U.S. tech sector.
Cisco Systems, which manufactures network equipment, posted disappointing first-quarter numbers this week and warned that revenues for the current quarter could drop as much as 10 percent from a year ago — partly as a consequence of the NSA revelations.
Behind all our material goods, from iPhones to sneakers, is a narrative of exploited Chinese workers with bleak lives. Reporter Leslie T. Chang says that's a disrespectful narrative. She sought out workers in a Chinese megacity and tells their stories.
Originally published on Fri November 15, 2013 9:32 am
We told you this morning about changes announced in China regarding the country's one-child policy, as well as an announcement that it was ending its system of labor camps. But those aren't the only policy shifts by the Communist Party.
China also said Friday that it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
NPR's business news starts with layoffs at Lockheed Martin.
As the federal budget goes, so go defense contractors. Lockheed Martin says it's forced to reduce costs as federal defense spending declines. The nation's largest military contractor announced plans yesterday to eliminate 4,000 jobs over the next year and a half. Lockheed Martin also plans to close plants in several states, including California, Pennsylvania and Ohio.
Our today's last word in business today goes to the people who got the last word on Twitter. JPMorgan tried a Twitter public relations stunt. It announced that the company's vice chairman, Jimmy Lee, would take over the company's Twitter account. In other words, he could field questions from the masses.
President Obama has acknowledged the fumbled rollout of his signature health care law has hurt his credibility and that of fellow Democrats. He offered a minor change to the law in hopes of calming Democratic nerves, and beating back bigger changes proposed by House Republicans.
The health care fix announced by President Obama on Thursday may be good news for some consumers, but it creates a big headache for insurance companies and regulators. An insurance industry trade group warns the last-minute change could destabilize the market and lead to higher premiums.
Google won a key victory in a nearly decade-long lawsuit over fair use of the collections of works at the New York Public Library, the Library of Congress and various other university libraries. A U.S. circuit court judge in Manhattan found Google's project to digitally copy millions of books for online searches does not violate copyright law.
NPR's Laura Sydell reports.
LAURA SYDELL, BYLINE: Google began scanning books back in 2004, many of the works were by living authors.
If a video game fan in your office calls in sick to work today, it may be because the new PlayStation 4 went on sale this morning. It is Sony's first new PlayStation home console in seven years. And next week, Microsoft follows it up with a new Xbox. Each of these devices has its own marketing strategy. PlayStation is promoting itself for games - as you might expect. Xbox wants you to think of the console as something much more.
While the health law's insurance markets are still struggling to get off the ground, the Obama administration is moving ahead with its second year of meting out bonuses and penalties to hospitals based on the quality of their care. This year, there are more losers than winners.
Medicare has raised payment rates to 1,231 hospitals based on two-dozen quality measurements, including surveys of patient satisfaction and — for the first time — death rates. Another 1,451 hospitals are being paid less for each Medicare patient they treat for the year that began Oct. 1.
Robert Shiller was surprised when he got the call telling him he'd won the Nobel Memorial Prize in economics — surprised that he'd won (of course), but also surprised that he was sharing the award with Eugene Fama.
"He and I seem to have very different views," Shiller told me. "It's like we're different religions."
In particular, they have very different views about economic bubbles.
"The word 'bubble' drives me nuts, frankly," Fama told me.
Food labels have become battlegrounds. Just last week, voters in Washington state narrowly defeated a measure that would have required food manufacturers to reveal whether their products contain genetically modified ingredients.
Supporters of the initiative — and similar proposals in other states — say that consumers have a right to know what they're eating.
But there are lots of things we might want to know about our food. So what belongs on the label?
Originally published on Wed November 20, 2013 2:00 pm
As the young U.S. senator takes the oath to become president, he sets out to fix an economy struggling with rising unemployment, slumping profits and depressed stock prices.
He knows the deep recession could prevent him from advancing his broader domestic and diplomatic agenda. Yes — all true for President Obama.
But that's what John F. Kennedy faced as well. On his frosty Inauguration Day in January 1961, Kennedy had to start fulfilling his campaign pledge to "get America moving again." Like Obama, he would need to win over a deeply skeptical business community.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
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And I'm Audie Cornish.
Janet Yellen took another historic step today on the road to becoming the first woman to head Federal Reserve. Appearing calm and comfortable in the spotlight at her first confirmation hearing, Yellen answered questions about the Fed's controversial stimulus program, it's efforts to reduce unemployment and her commitment to controlling inflation.
Originally published on Thu November 14, 2013 3:58 pm
Janet Yellen cleared a key hurdle Thursday, as her confirmation hearing to become the next chair of the Federal Reserve went smoothly. There were only a few snags in roughly two hours of questions and discussions between Yellen and members of the Senate banking committee.
Many of the senators lauded Yellen's extensive experience, as well as her adherence to views they heard her discuss in private meetings on Capitol Hill in recent weeks.
Originally published on Thu November 14, 2013 8:28 am
As Federal Reserve Vice Chairman Janet Yellen prepares to tell the Senate Banking Committee that she supports continuing the central bank's policy of buying billions of dollars' worth of bonds to boost the economy, there's fresh evidence that the relatively slow economic recovery continues to be ... relatively slow.
Originally published on Thu November 14, 2013 8:23 am
The Securities and Exchange Commission and the U.S. attorney's office in Brooklyn, N.Y., are looking into $1.8 million that JPMorgan Chase paid to a two-person firm in China from 2006 to 2008, The New York Times reports.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep. Let's hear next from a defender of Obamacare, the Affordable Care Act. Democratic Congressman Henry Waxman of California is on the line. Congressman, welcome back to the program.
REPRESENTATIVE HENRY WAXMAN: Thank you. Pleased to be with you.
Allegations that Miami Dolphins players harassed one of their own teammates got us thinking about other subtle forms of intimidation that can happen in the workplace. One out of every three people report being bullied on the job. That's according to a survey done by the Workplace Bullying Institute. Its director, Gary Namie, spoke to NPR's Linda Wertheimer. He told her bullying happens across income levels but that it's more likely to occur in particular professions.