Originally published on Tue April 23, 2013 3:40 pm
Some 93 percent of Americans saw their mean net worth fall in the first two years of the post-recession recovery, while the remaining 7 percent increased net worth by nearly a third, according to a new Pew Research Center analysis of Census Bureau data.
Originally published on Tue April 23, 2013 12:10 pm
A federal court has approved a settlement agreement between the Department of Justice and Anheuser-Busch InBev that will allow the mammoth beer company to complete its purchase of Grupo Modelo, a Mexico-based brewer that produces Corona, Pacifico and other beers.
The deal, which requires AB InBev to sell all of Modelo's U.S. business, clears the way for the $20.1 billion acquisition of the remaining portion of Modelo that AB InBev did not yet own. Terms of the deal were announced Friday.
Originally published on Wed April 24, 2013 5:37 am
Update at 5 p.m. ET:
Reuters reports that Apple has posted better-than-expected second-quarter earnings of $43.6 billion, "reflecting strong sales of the iPad and iPhone." Wall Street had forecast revenue of $42.3 billion, the wire service says.
We pick up our original post here:
Investors are waiting, many not so eagerly, for a look at how Apple for the second quarter.
Originally published on Tue April 23, 2013 5:07 am
The Senate voted Monday to advance a bill that would allow states to force online retailers to collect state and local sales taxes. Currently, states can only require brick and mortar stores to collect the sales tax. This greatly benefits online shoppers, who save by not paying the tax.
Now here's a change. Earlier this year, the worst drought conditions seen in the Midwest in decades threatened to close the Mississippi River to barge traffic. Now, communities along the river in Missouri and Illinois are bracing for flooding.
St. Louis Public Radio Maria Altman reports.
MARIA ALTMAN, BYLINE: The threat of flooding on the Mississippi River came on quickly after last week's storms dumped rain across the Midwest. The town of Clarksville, Missouri didn't even have time to erect its metal flood wall.
Brown University student Sunil Tripathi, who has been missing since March, was wrongly identified in social media as a suspect in the Boston Marathon bombings. Reddit has apologized to Tripathi's family "for the pain they have had to endure."
Imagine a world with machines that wash, press and dress you on the way to work and vacations via hologram visits to exotic beaches. In his new book, The New Digital Age, Google Executive Chairman Eric Schmidt does just that — but it's no gee-whiz Jetsons fantasy.
Schmidt partners up with Jared Cohen, a foreign policy counterterrorist specialist poached from the State Department now working for Google Ideas. Together they forecast a raft of new innovations and corresponding threats that will arise for dictatorships, techno revolutionaries, terrorists and you.
An American Airlines passenger is helped at the ticket counter at Miami International Airport last week. Many airline industry observers expect delays to strike Monday, the first full day of FAA furloughs.
Originally published on Tue April 23, 2013 8:26 am
Many airline passengers saw only moderate flight delays stemming from the first full day of furloughs for nearly 15,000 flight controllers and other Federal Aviation Administration workers, as industry analysts' worst fears did not materialize. But the reduced staffing was blamed for some slowdowns, and observers say it also increased the length of unrelated delays.
We'll be keeping an eye on possible delays today, and updating this post with new information.
Update at 6:45 p.m. ET. Delays Build, Tied To Weather And Furloughs:
Now online streaming is playing a bigger and bigger role in news events. Many people listened and watched the Boston bombing coverage on their laptops. And on Friday as the manhunt came to a close, tens of thousands of people were listening to police dispatches live online. In the entertainment world, video streaming is also having a big impact.
Now solar power has had its problems in recent decades. For years, solar panels were too expensive to compete. More recently, as we heard earlier in the business news, solar panels got so cheap that manufacturers ran into trouble. But solar energy had a signal achievement in March, and that is our last word in business today.
The job hunt is complicated enough for most high school and college graduates — and even tougher for the growing number of young people on the autism spectrum. Despite the obstacles that people with autism face trying to find work, there's a natural landing place: the tech industry.
Amelia Schabel graduated from high school five years ago. She had good grades and enrolled in community college. But it was too stressful. After less than a month she was back at home, doing nothing.
This Seattle building, a project by the Bullitt Foundation, is said to be the world's greenest office building. It uses a weather station to conserve energy, creates lighting via photovoltaic cells on the roof and features composting toilets.
One of the world's greenest office buildings formally open its doors Monday — Earth Day. It's a project of the environmentally progressive Bullitt Foundation. Its ambition is bold: to showcase an entirely self-sustaining office buildinghoping that others will create similar projects.
The first thing that strikes you about the new Bullitt Center is the windows. Walking up to the building in Seattle's Capitol Hill neighborhood, six stories of floor-to-ceiling glass soars above you.
And as we continue to cover the events in the Boston area, we want to also talk about one other story, Boeing 787. The jet known as the Dreamliner will be back in the air soon. This afternoon, the FAA approved Boeing's redesign of the plane's battery system. Fifty 787s have been grounded for the last three months following two serious battery failures, one which led to a fire.
This week the FBI and IRS raided the headquarters of one of the country's largest private employers: Pilot Flying J. The chain operates more than 600 gas stations and convenience stores in 44 states. It's owned by billionaire Jimmy Haslam. Haslam also owns the Cleveland Browns and his brother is Tennessee Gov. Bill Haslam, who owns shares in the company.
Alarmed by a nation that increasingly equates fresh with healthy, the frozen food industry has a message for you.
"What we call fresh in the supermarket is really better termed raw," says Kristin Reimers, a registered dietitian and manager of nutrition for ConAgra Foods. "A lot of times, those vegetables have been transported for days, and then sit. It could be a matter of weeks between when they're picked and consumed."
NPR's business news starts with the tale of two companies.
STEVE INSKEEP, HOST:
Google and Microsoft quarterly earnings reports are in and it appears their slugfest continues with Google's earnings up 23 percent and Microsoft up 18 percent. That is even as sales of desktop computers decline.
GREENE: As NPR's Sonari Glinton reports, the future for both companies is on the small screen.
All right. Today's last word in business is be careful what you ask for.
The small Indian city of Motihari is not known for much.
STEVE INSKEEP, HOST:
So when locals discovered a few years ago that the writer George Orwell was born there, they saw a tourism opportunity. Britain's Telegraph newspaper reports locals put up a sign outside the birthplace of the author of "1984," "Animal Farm" and other books, and they asked the state government to turn that modest home into a museum.
A fertilizer plant exploded near Waco, Texas, Wednesday night. The explosion at West Fertilizer in downtown West, a community about 20 miles north of Waco, happened around 7 p.m. and could be heard as far away as Waxahachie, 45 miles to the north.
Two prominent Harvard economists have admitted there are errors in an influential paper they wrote on government debt. This paper was widely cited in recent budget debates. But the economists insist their mistakes do not significantly change their research.
NPR's Jim Zarroli reports.
JIM ZARROLI, BYLINE: In their 2010 paper, Ken Rogoff and Carmen Rinehart argued that economic growth falls significantly when a country's debt level rises above 90 percent of its Gross Domestic Product or GDP.