Business

Business news

It's the early presidential campaign season, and candidates are loudly courting voters in high-profile appearances nationwide. But in quiet, closed-press fundraisers, they're also asking well-heeled elites for the cash to keep campaigning. That cash grab is so fast-paced, it would make even hot Silicon Valley startups jealous.

Editor's Note: Our #RaceOnTech public call-out for diverse innovators officially ended June 15, but we encourage you to continue engaging around the #RaceOnTech hashtag to get to know each other's work. More than 150 people and organizations were suggested to join our "Day in The Life" social storytelling series set to begin July 13. Thanks for all the great suggestions!

After wrestling with India's regulatory bodies over the safety of some of its products, Nestlé India says it will abide by a ban and pull its noodle soup products from shelves.

The U.S. economy got 280,000 new jobs in May, comfortably beating economists' expectations. Even so, the unemployment rate ticked up to 5.5 percent, according to the latest Labor Department report.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

The island of Puerto Rico is caught in an economic crisis. While the rest of the U.S. is seeing economic growth, Puerto Rico is struggling to emerge from nine years of recession. The poor economy has spurred hundreds of thousands to leave the island.

The U.S territory is more than $72 billion in debt, running low on cash and on the verge of default.

American Pharoah is poised to make horse-racing history Saturday if he wins the Belmont Stakes and accomplishes that rare feat — a Triple Crown victory. His owner will also get a nice payday. But the real financial windfall comes later.

In America, thousands of thoroughbreds are born every year, and every year only one gets to win the Kentucky Derby.

The chances of winning the Triple Crown — the Derby, the Preakness and the Belmont — are even slimmer. Only 11 horses have ever done it. If American Pharoah wins, he will be the first Triple Crown winner since 1978.

Daily Table opened its doors Thursday with shelves full of surplus and aging food.

The nonprofit grocery store is in the low-to-middle income Boston neighborhood of Dorchester. It's selling canned vegetables two for $1 and a dozen eggs for 99 cents. Potatoes are 49 cents a pound. Bananas are 29 cents a pound.

"That's good. It's cheap! Everything good," says Noemi Sosa, a shopper marveling at the prices that — for Boston — are phenomenally low.

The Environmental Protection Agency says it has found no evidence that hydraulic fracturing — better known as fracking — has led to widespread pollution of drinking water. The oil industry and its backers welcome the long-awaited study, while environmental groups criticize it.

For the first time, workers at a digital media company have voted to join a union. Editorial employees at Gawker Media are joining the Writers Guild of America, after a vote in which 80 employees or 75 percent voted in favor of forming a union, and 27 employees, or 25 percent opposed.

In a post on the Gawker website, the editorial employees say the next steps are "determining what we want to bargain for, forming a bargaining committee and negotiating a contract."

There's a famous, heated scene in the 1982 film Diner in which Shrevie (Daniel Stern) has discovered that his wife Beth (Ellen Barkin) has been listening to his 1950s-era record collection, which is organized neatly by name, date, and genre. While Beth "just wants to listen to the music," for Shrevie it's extremely important to recognize his organizational process for a collection that means everything to him. "Every one of my records means something!" he screams at her.

Rudy Mussi is not the California farmer you've been hearing about. He is not fallowing all his fields or ripping up his orchards due to a lack irrigation water.

For Mussi and most of his neighbors in the bucolic Sacramento Delta, the water is still flowing reliably from the pumps and into the canals lining the fields.

"If you had to pick a place where you would say, 'Okay, where should I stick my farm?' You'd come to the Delta," he says.

The pipeline that ruptured and spilled more than 100,000 gallons of crude oil along the California coastline near Santa Barbara last month was badly corroded, according to federal investigators.

In the race for the GOP presidential nomination, Rick Perry is getting in Thursday, and both Jeb Bush and Bobby Jindal have announced that they have announcements to make.

The new USA Freedom Act prevents the bulk collection of phone call metadata by the NSA. AT&T, Verizon and other carriers will keep phone call metadata on their servers, and give it to the National Security Agency if subpoenaed by the Foreign Intelligence Surveillance Court, often called the FISA Court.

To be clear, phone companies do not have a new mandate to collect or store metadata — the numbers called and time and length of those calls.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

ARI SHAPIRO, HOST:

The pharmacy chain CVS has been hit with a federal lawsuit. Some former employees claim that CVS stores in New York City are racially profiling black and Latino customers as potential shoplifters. NPR's Hansi Lo Wang has more.

The states that set up their own insurance marketplaces have nothing to lose in King v. Burwell, the big Supreme Court case that will be decided by the end of June. But that doesn't mean those states are breathing easy.

With varying degrees of difficulty, all of the state-based exchanges are struggling to figure out how to become financially self-sufficient as the spigot of federal start-up money shuts off.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

AUDIE CORNISH, HOST:

Many University of Michigan business students who have an entrepreneurial streak take Professor Jerry Davis' start-up class. Davis has lived in the Silicon Valley, he has a Ph.D. from Stanford University, and he has advice for young people: Forget the Bay Area.

"You spend a whole lot of your time on freeways. It's expensive, it's annoying. The weather is beautiful, but basically the Bay Area has turned into Los Angeles," Davis says. "All the things that people hate about LA are now true of the Bay Area."

Updated June 4 at 11:30 a.m. ET

Nobody expects an internship to make one rich — but for many, the entire experience has become simply unattainable.

California's drought isn't just turning green lawns brown or #droughtshaming into a trending topic. It's taking a multi-billion dollar toll on the state's agricultural industry as well.

The University of California, Davis is out with a new report, and some of the numbers are steep. The study found that in 2015 alone, the drought will cost the state's farmers industry $2.7 billion and more than 18,000 jobs, with 564,000 acres fallowed.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

The SAT is undergoing major changes for 2016.

And, as of today, students — for free — can tap into new online study prep tools from Khan Academy, the online education nonprofit.

Many investigators say Positive Train Control (PTC), an automated safety system, could have prevented last month's Amtrak train derailment. Amtrak officials have said they will have PTC installed throughout the northeast corridor by the end of this year, which is the deadline mandated by Congress.

But the vast majority of other commuter railroad systems, which provided nearly 500 million rides in 2014, won't be able to fully implement positive train control for several more years.

It's a problem in a taxi economy if people don't like getting into cabs that are driven by strangers. A cab driver is a stranger almost by definition. But in the high-crime city of Nairobi, Kenya, people prefer to call up drivers they know or who their friends recommend.

An American named Jason Eisen spent years in Nairobi as a consultant until he had his big idea. He built an app that doesn't just tell you which taxis are close by, like Uber does. It also assigns the driver a trust score, by scouring riders' contacts and social media.

Both social apps have the announcements in posts to their respective blogs. Instagram says its new ad strategy will bring "new formats, increased relevance, and broader [ad] availability." Pinterest is more direct; the title of its post is "Coming soon: Buyable Pins!" Here's a breakdown.

Instagram

South Korea is contending with the biggest Middle East respiratory syndrome, or MERS, outbreak outside the Middle East.

Pages