Federal prosecutors have filed criminal charges against one of the most famous and successful hedge funds in the world. The government alleges that SAC Capital Advisors is criminally responsible for insider trading that went on at the firm.
Organic egg farmers are divided in their reaction to a new FDA proposal that's intended to reduce the risk of salmonella infection among free-roaming chickens. They even disagree about what the document, called "Guidance for Industry," actually requires.
President Obama is putting out a message of economic revitalization, starting with the middle class. Cecilia Munoz, Director of the White House Domestic Policy Council, explains why the executive branch is pushing the message now. She speaks with guest host Celeste Headleee.
Federal officials in New York City have charged SAC Capital Advisors with insider trading, the culmination of a protracted investigation into the hedge fund founded by embattled billionaire Steven Cohen.
SAC is charged with one count of wire fraud and four counts of securities fraud in connection with alleged insider trading by "numerous employees" at "various times between in or about 1999 through at least in or about 2010," according to the indictment.
The city of Detroit may be on the skids financially, but one of its traditional "big three" automakers just scored a big win.
For the first time since it began making such comparisons between sedans in 1992, Consumer Reports magazine has given its top rating to a model made by a U.S. automaker — not one made by a European or Japanese company.
The increase is from what had been a 10-week low. But basically, claims have been ranging between the mid-330,000s and mid-370,000s all year. Like other employment indicators, the jobless claims figures have been signalling that job growth remains modest.
DAVID GREENE. HOST: Hollywood movies are full of bombs this summer, and I mean both literally and figuratively. There have been a lot of big expensive movies, often action movies, that have not done very well at the box office. NPR's Elizabeth Blair says think "After Earth," "The Lone Ranger," and "White House Down."
ELIZABETH BLAIR, BYLINE: First, there have been some hits this summer, mostly sequels like "Iron Man 3."
(SOUNDBITE FROM FILM, "IRON MAN 3")
ROBERT DOWNEY, JR.: (as Tony Stark) We can do this, Heather.
A former executive at Goldman Sachs will take the stand again in his civil fraud trial this morning. Fabrice Tourre is accused of misleading investors about a security he marketed and sold in the months leading up to the subprime mortgage collapse.
Tourre began testifying yesterday afternoon, and NPR's Jim Zarroli was there. Jim, good morning.
JIM ZARROLI, BYLINE: Good morning.
GREENE: So give us the background, here, if you can. What is Fabrice Tourre accused of, exactly?
Since the 1930s, Louisiana has lost roughly as much land as makes up the state of Delaware.
"If you put the state of Delaware between New Orleans and the ocean, we wouldn't need any levees at all," says John Barry, vice president of the Southeast Louisiana Flood Protection Authority-East. "There is this large buffer of land that has disappeared, and that buffer makes New Orleans much more vulnerable to hurricanes."
Many businesses that don't offer health insurance to all their employees breathed a sigh of relief earlier this month when they learned they'd have an extra year to comply with the new health care law or face stiff penalties.
Teams of workers are mobilizing in the Gulf of Mexico to try to stem a natural gas leak at an offshore drilling rig that exploded and caught fire Tuesday. The rig off the Louisiana coast has been partially destroyed by the out of control blaze, and firefighting boats are on the scene.
That Crunchy Taco will no longer come with a side of toy.
Taco Bell announced Tuesday that it is ditching kids' meals and the trinkets that come with them at its U.S. locations. The items will begin to come off menus starting this month, the company says, and should be completely gone by January 2014.
Vermont, New Hampshire and Delaware get a notable benefit of being small: faster Internet connections. In the latest Akamai State of the Internet Report, they top the list of states with the fastest average connection speeds, and make the top 10 states with fastest peak connection speeds, too.
Check out the rankings, which include download speeds measured in megabits per second, and the year-on-year change for those numbers.
From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.
Billionaire Steven Cohen is fighting back. He faces federal charges that he didn't do enough to prevent insider trading at his hedge fund SAC Capital. As The Wall Street Journal reported this morning, Cohen's firm issued a rebuttal, claiming that he never saw an email that's an important part of the government's case.
Get Howard Buffett into the cab of a big ole' farm tractor and he's like a kid — albeit a 58-year-old, gray-haired one. He's especially excited when it comes to the tractor's elaborate GPS system, which he describes as "very cool."
"I'm driving hands-free," says Buffett, the son of billionaire investor Warren Buffett.
He says that the tractor has been automatically set to plant 16 perfect rows of seeds, "so it makes everything more efficient. And it's going to give you a better crop in the end."
I'm Michel Martin and this is TELL ME MORE from NPR News. Coming up, it's the Muslim holy month of Ramadan. And wouldn't you know, there's an app for that. Our regular contributor Arsalan Iftikhar, founder of the blog TheMuslimGuy.com, will tell us more about them in just a few minutes. But first, to matters of personal finance. You might remember that last week we talked about how the summertime is a good time to do a mid-year check-in on your personal finances.
The number of part-time workers has roughly doubled in the last few years. For most of those employees, that means short hours, erratic schedules and low pay. Host Michel Martin talks with NPR's Marilyn Geewax, and fast-food worker Amere Graham, about the high costs of part-time work.
Last fall, Hurricane Sandy damaged homes, buckled boardwalks and ruined much of the infrastructure of the small vacation spot of Fire Island, just off the coast of New York. The storm also destroyed many of the island's copper phone lines. But the island's only traditional phone company has no plans to replace them. Instead, Verizon is offering customers a little white box with an antenna it calls Voice Link.
"It has all the problems of a cellphone system, but none of the advantages," says Pat Briody, who has had a house on Fire Island for 40 years.
From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.
ROBERT SIEGEL, HOST:
And I'm Robert Siegel. Britain's largest drug maker GlaxoSmithKline said today that some of its senior executives may have broken the law in China. The company faces allegations that it bribed Chinese doctors and hospitals to buy its drugs. NPR's Jim Zarroli has the story.
GlaxoSmithKline says that some of its executives appear to have violated Chinese laws. In response, the company is pledging changes in the way it operates — which would bring down the prices of some of its drugs in China. Chinese authorities accuse the company of bribing doctors and officials to boost sales and raise the price of medicines.
A century ago, New York could claim that much of its liquor was local, thanks to distilleries large and small that supplied a lot of the whiskey, gin and rum that kept New York City (and the rest of North America) lubricated. Then Prohibition arrived and the industry largely dried up, before trickling back to life in the 21st century.
Now, distillers in New York state are toasting a revival 80 years in the making.
When a young Indian-American woman walked into the funky L.A. jewelry boutique Tarina Tarantino, store manager Lauren Twisselman thought she was just like any other customer. She didn't realize the woman was actress and writer Mindy Kaling.
"I hadn't watched The Office,"Twisselman says. Kaling both wrote and appeared in the NBC hit.
Detroit this week became the largest American city ever to file for bankruptcy. Host Jacki Lyden talks with NPR business reporter Sonari Glinton about what Detroit's fiscal woes means for the nation's auto industry, which is famously linked to the city.