Business

Business
3:20 am
Thu July 18, 2013

Wall Street Poised For Bernanke's Senate Panel Testimony

Originally published on Thu July 18, 2013 5:45 am

Federal Reserve Chairman Ben Bernanke continues his two-day monetary policy testimony on Capitol Hill. On Wednesday, the chairman appeared before the House Financial Services Committee.

Business
3:07 am
Thu July 18, 2013

Nike Apologizes For Carolina Mix-Up

Originally published on Thu July 18, 2013 5:45 am

Transcript

RENEE MONTAGNE, HOST:

OK. Let's stick with the sports theme. Nike put out a new T-shirt for fans of North Carolina's pro-football team, the Carolina Panthers.

DAVID GREENE, HOST:

But there was a bit of a problem, which brings us to our last word in business: A map mishap.

MONTAGNE: The shirt design featured the Panthers logo with the letters NC - all framed by the outline of that other Carolina, South Carolina.

GREENE: Nike has apologized for this error and pulled the remaining shirts.

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Business
3:07 am
Thu July 18, 2013

Intel's Earnings Are Down For 4th Straight Quarter

Originally published on Thu July 18, 2013 8:29 am

The computer chip maker is facing a tough reality with its latest earnings report. Intel's second quarter profit was down 29 percent compared to last year. One reason is that more and more consumers and businesses are switching from traditional computers to smart phones and tablets.

Television
3:07 am
Thu July 18, 2013

'House of Cards' Picks Up 9 Emmy Nominations

Originally published on Thu July 18, 2013 8:55 am

The Netflix series is the first digitally distributed show to get nominated for a major category. For best drama, "House of Cards" joins nominees "Homeland," "Game of Thrones," "Breaking Bad," "Downton Abbey" and "Mad Men." Jon Weisman of Variety talks about the nominations, announced Thursday.

NPR Story
2:58 am
Thu July 18, 2013

Congress Takes Renewed Aim At Fannie Mae, Freddie Mac

Originally published on Thu July 18, 2013 5:45 am

Transcript

RENEE MONTAGNE, HOST:

For the first time since the housing crash, lawmakers are getting serious about dismantling the mortgage giants Fannie Mae and Freddie Mac. They were rescued with $190 million bailout. Two prominent senators - a Democrat and a Republican - have a bill that's attracting some bipartisan support. A separate Republican bill is being introduced in the House today and a third may soon come from Democrats. NPR's Chris Arnold reports.

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Planet Money
3:23 pm
Wed July 17, 2013

The 'Ask Your Uncle' Approach To Economics

The Federal Reserve, home of the Beige Book.
Karen Bleier AFP/Getty Images

Originally published on Wed July 17, 2013 5:11 pm

The Beige Book is weird. It's an economic report released by the Federal Reserve every few months, but it doesn't have many numbers in it. Mostly, it's a bunch of stories gathered by talking to businesses around the country. A Fed economist once described it as the "Ask Your Uncle" approach to figuring out what's going on in the economy.

In the Beige Book released today, for example, we learned that:

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The Two-Way
2:36 pm
Wed July 17, 2013

'We're Here To Stay' Says Newly Confirmed Consumer Watchdog

Richard Cordray, director of the Consumer Financial Protection Bureau.
Ron Sachs/pool Getty Images

Originally published on Wed July 17, 2013 5:11 pm

One day after his two years in limbo ended and he was confirmed by the Senate as head of the Consumer Financial Protection Bureau, Richard Cordray told NPR that though political bickering held up his nomination he now believes he has bipartisan support for the bureau's work.

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All Tech Considered
12:51 pm
Wed July 17, 2013

Clever Hacks Give Google Glass Many Unintended Powers

Stephen Balaban has re-engineered his Google Glass to allow for facial recognition.
Courtesy of Stephen Balaban

Originally published on Wed July 17, 2013 6:55 pm

At Philz Coffee in Palo Alto, Calif., a kid who looks like he should still be in high school is sitting across from me. He's wearing Google Glass. As I stare into the device's cyborg eye, I'm waiting for its tiny screen to light up.

Then, I wait for a signal that Google Glass has recognized my face.

It isn't supposed to do that, but Stephen Balaban has hacked it.

"Essentially what I am building is an alternative operating system that runs on Glass but is not controlled by Google," he said.

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The Two-Way
12:19 pm
Wed July 17, 2013

Economy's Growing At 'Modest To Moderate Pace,' Fed Says

Part I of the news from the Federal Reserve on Wednesday was Chairman Ben Bernanke's signal to the financial markets that the central bank won't be shifting away from its "easy money" policy just yet.

Part II was just released. In its latest "Beige Book" review of economic conditions around the nation the Fed says that:

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The Salt
11:44 am
Wed July 17, 2013

Your Love Of Quinoa Is Good News For Andean Farmers

Farmer Geronimo Blanco shows his quinoa plants in Patamanta, Bolivia, in February. A burgeoning global demand for quinoa has led to a threefold price increase since 2006.
Juan Karita AP

Originally published on Wed July 17, 2013 4:15 pm

Quinoa lovers have been put on a bit of a guilt trip with stories suggesting that the increased demand in the U.S. has put the superfood out of reach for those living closest to where it's grown.

How can poor Bolivians in La Paz afford to pay three times more for quinoa than they would pay for rice, critics have asked?

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The Two-Way
10:44 am
Wed July 17, 2013

Asiana Decides Not To Sue San Francisco TV Station

Passengers move away from the wreckage of Asiana Airlines Flight 214 after the plane's July 6 crash-landing in San Francisco. This photo was taken by a passenger.
Eugene Anthony Rah Reuters/Landov

Originally published on Thu July 25, 2013 10:34 am

Asiana Airlines has decided not sue the Oakland television station that aired the bogus names of the flight crew piloting Flight 214, a Boeing 777 that crash-landed at San Francisco International Airport earlier this month.

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The Two-Way
7:11 am
Wed July 17, 2013

Bernanke: Fed's Monetary Policies Not On 'A Preset Course'

Federal Reserve Board Chairman Ben Bernanke speaks during a news conference at the Federal Reserve in Washington, D.C., last month.
Alex Wong Getty Images

Originally published on Wed July 17, 2013 10:22 am

In testimony before the House Committee on Financial Services, Federal Reserve Chairman Ben Bernanke said that when and how the Fed winds down its stimulus programs will depend on economic conditions.

Here's the key passage from Bernanke's prepared remarks:

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Business
2:42 am
Wed July 17, 2013

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 3:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

Business
2:42 am
Wed July 17, 2013

Hasbro Cuts Off Funding To National Scrabble Association

Originally published on Wed July 17, 2013 4:54 am

The company had spent millions of dollars supporting the independent group. The National Scrabble Association played a support role for the Scrabble community for more than 25 years. It worked with Merriam-Webster to create an official dictionary, and it refereed tournaments. Hasbro is now taking over those duties.

Business
2:42 am
Wed July 17, 2013

Yahoo's Stock Soars, Sales Remain Flat

Originally published on Wed July 17, 2013 3:08 am

There's been excitement on Wall Street about a turnaround at Yahoo since Marissa Mayer became head of the company last year. Mayer has completed high profile acquisitions and sought to improve worker morale. Second quarter revenues missed expectations as Yahoo struggled to corral advertising dollars.

Europe
2:42 am
Wed July 17, 2013

Civil Servants In Greece 'Sit-In' To Fight For Their Jobs

Originally published on Wed July 17, 2013 5:57 am

Greece's two largest unions held a general strike and anti-austerity demonstrations on Tuesday. Now, the country's parliament will debate and vote on deep civil service cuts. Greece must downsize the public sector in order for it to keep getting international bailout loans.

Business
2:42 am
Wed July 17, 2013

Fed Chairman Ben Bernanke To Address Members Of Congress

Originally published on Wed July 17, 2013 4:50 am

It's semi-annual testimony time for Federal Reserve Chairman Ben Bernanke. Sounds dry but lots of people will be hanging on his every word these next two days. Markets have been on a wild ride since Bernanke delivered a news conference last month. In that speech he laid out plans to scale back the Fed's bond-buying program.

The Salt
1:00 am
Wed July 17, 2013

In Oregon, The GMO Wheat Mystery Deepens

Wheat grows in a test field at Oregon State University in Corvallis. Some scientists believe that there's a chance that genetically modified wheat found in one farmer's field in May is still in the seed supply.
Natalie Behring Bloomberg via Getty Images

Originally published on Thu July 18, 2013 2:34 pm

The strange case of genetically engineered wheat on a farm in Oregon remains as mysterious as ever. If anything, it's grown more baffling.

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Business
3:03 pm
Tue July 16, 2013

'Living Wage' Laws Create Both Winners And Losers

Originally published on Tue July 16, 2013 6:00 pm

Transcript

AUDIE CORNISH, HOST:

To learn more about these living wage bills throughout the country, we're joined by David Neumark. For years, he studied the effects of living wage laws, and he directs the Center for Economics and Public Policy at the University of California at Irvine. Welcome to the program.

DAVID NEUMARK: Thanks for having me.

CORNISH: So, first, some context. How does the living wage differ from what we're all more familiar with, the minimum wage?

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Business
3:03 pm
Tue July 16, 2013

D.C. Wage Rift Puts Spotlight On Wal-Mart's Urban Push

The scene in a Wal-Mart store in Alexandria, Va. Cities are a key growth area for retailers since suburbs are already saturated with big-box stores.
AP

Originally published on Tue July 16, 2013 6:00 pm

Wal-Mart's long-standing plans to come to Washington, D.C., are now up in the air. The City Council passed a living wage law that would require the world's largest retailer to pay $12.50 an hour, more than the city's current $8.25 minimum wage.

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The Salt
3:03 pm
Tue July 16, 2013

Can Oysters With No Sex Life Repopulate The Chesapeake Bay?

Young oysters live on old oyster shells and slowly mature while forming a complete shell.
Astrid Riecken Washington Post/Getty Images

Originally published on Tue July 16, 2013 6:00 pm

The Chesapeake Bay once supplied half the world's oyster market. But pollution, disease and over-harvesting have nearly wiped out the population. It's a dire situation that's united former adversaries to revive the oyster ecosystem and industry.

Scientists and watermen have joined forces to plant underwater farms in the bay with a special oyster bred in a lab. Called triploid oysters, they have been selected for attributes like disease tolerance and fast growth.

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The Salt
10:44 am
Tue July 16, 2013

Local Sake: America's Craft Brewers Look East For Inspiration

Yoed Anis, president of the Texas Sake Company, says "the only constraint holding us back" from faster growth is the absence of a sufficient and consistent rice supply.
Courtesy Texas Sake Company

Originally published on Tue July 16, 2013 11:29 am

Most of us are familiar with that hot, musky-smelling, cloudy drink served in teacups at sushi bars and sometimes called, erroneously, "rice wine." In other words, most of us have had bad sake.

But finally, Americans are learning to love the good stuff.

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Business
10:14 am
Tue July 16, 2013

Weather Puts A Damper On Coca-Cola Sales

Originally published on Tue July 16, 2013 10:15 am

Coca-Cola sales have slowed, in part because of the weather. The company says global soda sales rose by only 1 percent in the second quarter — less than expected. Coke's CEO cited rain and cold temperatures in the U.S., which seems to have put a damper on consumers' desire for a refreshing soft drink.

The Salt
8:56 am
Tue July 16, 2013

Community Supported Agriculture: How Big Is Too Big?

Grant Family Farms in northern Colorado launched an organic CSA in 2007 and eventually attracted 5,000 members. But it went bankrupt in 2012.
Grace Hood KUNC

Originally published on Tue July 16, 2013 10:43 am

The peak of the summer harvest is approaching, which means that if you have a community supported agriculture share, you may be receiving a daunting amount of fresh produce to cook every week.

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Around the Nation
3:06 am
Tue July 16, 2013

Georgia Hospital System Partners With Royal Philips

Originally published on Tue July 16, 2013 4:22 am

Transcript

DAVID GREENE, HOST:

Companies that make medical equipment operate largely on a supply-and-demand model. Hospitals buy their multimillion- dollar machines, use them for a few years, and then go shopping again. In some cases, manufacturers have designed entire medical systems within a hospital.

Now, in what appears to be a first-of-its-kind partnership in the United States, a tech giant - Royal Philips - and a hospital system in Georgia are sharing financial risk and reward. Jim Burress reports from WABE in Atlanta.

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Business
3:06 am
Tue July 16, 2013

Investigators In London Probe Boeing 787 Fire

Originally published on Tue July 16, 2013 4:21 am

Transcript

RENEE MONTAGNE, HOST:

Investigators in London are continuing to probe the cause of last Friday's fire onboard a parked Boeing 787 - the plane known as the Dreamliner. They're examining what role the emergency locator transmitter might have played.

That device is made by Honeywell - and as NPR's Wendy Kaufman reports, the company has sent technical experts to assist in the investigation.

WENDY KAUFMAN, BYLINE: The emergency locator transmitter, or ELT, sends out a digitally encoded signal after a crash, and says aviation analyst Scott Hamilton...

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Business
3:06 am
Tue July 16, 2013

Car Sales In Europe Drop To A 20-Year Low

Originally published on Tue July 16, 2013 4:21 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with Europe stalling.

Car sales in Europe are at a 20-year low. The European Automobile Manufacturers' Association calculates this based on the number of car registrations in a given period. For June, registrations were down more than 6 percent compared to a year earlier. Analysts say the EU's high unemployment rate is to blame.

Books News & Features
1:17 am
Tue July 16, 2013

Use The Books, Fans: 'Star Wars' Franchise Thrives In Print

Originally published on Tue July 16, 2013 8:56 am

There's been a frenzy of excitement since last year when Disney bought Lucasfilm, creator of the Star Wars franchise, and announced it would make more Star Wars movies. Fans are eagerly awaiting hints of what might happen next in the story, and one way the franchise keeps fans interested is through a pantheon of Star Wars books, the latest of which is Troy Denning's Star Wars: Crucible.

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The Salt
3:21 pm
Mon July 15, 2013

In Argentina, Coca-Cola Tests Market For 'Green' Coke

Coca-Cola Life, a new product being rolled out in Argentina with a green label, is being marketed as a "natural" and therefore lower-calorie cola.
Coca-Cola

Originally published on Mon July 15, 2013 4:40 pm

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Law
2:17 pm
Mon July 15, 2013

Former Goldman Sachs Vice President Goes On Trial

Originally published on Mon July 15, 2013 4:17 pm

Three years ago the Securities and Exchange Commission filed civil charges against Goldman Sachs and one of its traders, Fabrice Tourre. They were charged with misleading investors over mortgage-backed securities. Goldman settled and agreed to pay $550 million. Tourre's trial began Monday in a Manhattan court room.

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