Business

Business
2:44 am
Wed October 9, 2013

Health Scares In China Hurt Yum Brands' Profits

Originally published on Wed October 9, 2013 4:55 am

The owner of KFC and Pizza Hut has reported a near 70 percent drop in profits this quarter. Yum Brands relies on operations in China for three quarters of its revenue. Recent food safety issues and a bird flu outbreak there hit the company especially hard.

Business
2:44 am
Wed October 9, 2013

Ikea's Chinese Stores Invite Nappers To Try Out Their Beds

Originally published on Wed October 9, 2013 5:00 am

So many customers have been napping on the beds in Ikea's Chinese stores that employees have begun to change the sheets daily. One store in Hong Kong invited its customers to wear their pajamas and sleep over. About 80 of them did.

Business
2:44 am
Wed October 9, 2013

Treasury Officials Mull Credit Default Solutions

Originally published on Wed October 9, 2013 3:44 am

The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.

Politics
2:44 am
Wed October 9, 2013

Federal Prison Workers Dismayed By Government Shutdown

Originally published on Wed October 9, 2013 4:38 am

Transcript

STEVE INSKEEP, HOST:

Read more
Politics
2:44 am
Wed October 9, 2013

Obama, Boehner Stake Out Positions On Shutdown

Originally published on Wed October 9, 2013 3:49 am

President Obama made his case for reopening the government and raising the debt ceiling at a White House news conference Tuesday afternoon. It was his first news conference in several weeks. House Speaker John Boehner spoke at the Capitol for about five minutes.

Politics
2:44 am
Wed October 9, 2013

Rep. Labrador Of Idaho Weighs In On Government Shutdown

Originally published on Wed October 9, 2013 4:44 am

Transcript

RENEE MONTAGNE, HOST:

Read more
Around the Nation
1:00 am
Wed October 9, 2013

High-End Extras Aren't A Sure Bet For Tribal Casinos

Yvonne Smith is the director of La Rive Spa at Northern Quest Resort and Casino in Washington state. Across the country, Native American tribes are hoping high-end extras will draw visitors to casinos.
Jessica Robinson Northwest News Network

Originally published on Wed October 9, 2013 7:53 am

What used to be no-frills slot parlors off the highway are turning into resort-style destinations with spas, golf courses and luxury hotels. Native American tribes are hoping these added amenities will give them an edge in an increasingly competitive gaming market.

Read more
It's All Politics
4:41 pm
Tue October 8, 2013

Shutdown Diary: Obama Takes On The Default Deniers

At a Tuesday news conference, President Obama underscored Democrats' refusal to negotiate with Republicans on bills to reopen the government and raise the debt ceiling.
Charles Dharapak AP

Originally published on Tue October 8, 2013 6:30 pm

On Day 8 of the federal government's partial shutdown, President Obama called House Speaker John Boehner. But the morning phone call produced no movement toward resolution, according to readouts by aides to both men.

Here are some of Tuesday's news highlights:

President Obama

Obama gave his first lengthy press conference since early August, answering questions for more than an hour.

Read more
Your Money
3:45 pm
Tue October 8, 2013

Ups And Downs In Oil And Gas But Gas Remains A Cheaper Heat

Originally published on Thu October 24, 2013 12:18 pm

Transcript

MELISSA BLOCK, HOST:

You're listening to ALL THINGS CONSIDERED from NPR News. For many parts of the country, winter has already struck and struck hard. Residents in those areas have started turning up their thermostats and according to federal predictions, they're likely to notice an increase in how much it costs to heat their homes. As Fred Bever from member station WBUR reports, after years of natural gas being the cheapest heating option out there, the price is starting to go up.

Read more
Politics
3:45 pm
Tue October 8, 2013

By The Numbers: The Cost Of The Federal Government Shutdown

Originally published on Tue October 8, 2013 5:24 pm

As the partial government shutdown continues into its eighth day, All Things Considered takes a look at what's been happening both in and out of Washington.

Economy
3:45 pm
Tue October 8, 2013

It's All About The (New, More Secure) Benjamins, Baby

Originally published on Tue October 8, 2013 5:24 pm

A government shutdown isn't stopping the release of a new 100-dollar bill. We'll take a look at the new Ben's high-tech makeover.

It's All Politics
2:56 pm
Tue October 8, 2013

House GOP's Latest Idea: A Fiscal Supercommittee, Sort Of

Rep. Pete Sessions (R-Texas) at the hearing where he discussed his bill to create a bipartisan committee to tackle fiscal issues.
C-SPAN screen shot

The latest House GOP gambit in the fiscal fight is ... wait for it ... a supercommittee.

But Republicans aren't calling it a supercommittee since that's the term for the failed panel that brought us the the sequester.

Read more
Your Money
10:09 am
Tue October 8, 2013

Pyramid Schemes: If It Looks Too Good To Be True, It Probably Is

Transcript

MICHEL MARTIN, HOST:

Read more
It's All Politics
10:06 am
Tue October 8, 2013

D.C. Bars And Restaurants Feel Shutdown Squeeze

Originally published on Tue October 8, 2013 1:14 pm

Federal employees aren't the only ones feeling the heat in Week 2 of the government shutdown.

D.C. bars and restaurants are also getting nervous about just how long their customers will be out on furlough — and how that might dent their bottom line. While attendance at local happy hours was up in the past week, according to some reports, there are serious concerns about whether that can last with so many government workers sent home.

Read more
The Government Shutdown
9:59 am
Tue October 8, 2013

Obama's Absence At Asia Summit Seen Hurting U.S. Trade

Indonesian President Susilo Bambang Yudhoyono speaks Tuesday at the Asia-Pacific Economic Cooperation summit on the Indonesian resort island of Bali. President Obama missed the meeting due to the budget impasse in Washington.
Beawiharta/Pool EPA/Landov

Originally published on Tue October 8, 2013 1:49 pm

Imagine a poker table.

At one seat, China's President Xi Jinping studies his cards. At another, Russian President Vladimir Putin is stroking his chin. Asian leaders fill the other seats, each trying to win the pot, which is filled — not with poker chips — but with jobs.

That's the kind of high-stakes game that played out this week in Indonesia, where global leaders got together to discuss trade relations. Their gathering ended Tuesday, and exactly who won what is not yet clear.

But this much is known: President Obama was not at the table.

Read more
It's All Politics
6:18 am
Tue October 8, 2013

Tuesday Morning Political Mix

Despite all the warning signs, U.S. leaders continue to barrel toward a debt default with no one yet willing to step on the brakes.
SAUL LOEB AFP/Getty Images

Good morning, fellow political junkies. It's Day 8 of the partial shutdown of the federal government. Among the only certainties: many federal workers are a day closer to missing a paycheck and the nation is a day closer to hitting the debt ceiling.

Read more
The Two-Way
6:11 am
Tue October 8, 2013

Senate Democrats Could Set Up Test Vote On Debt Ceiling

Senate Majority Leader Harry Reid of Nevada speaks at a news conference last week on the government shutdown.
Win McNamee Getty Images

Originally published on Tue October 8, 2013 9:14 am

Senate Democrats might introduce a measure to raise the debt ceiling, even as the debate over a spending bill to restart the federal government drags on.

The Associated Press reports:

Read more
Research News
2:37 am
Tue October 8, 2013

Theorists Compare Government Shutdown To A Not-So-Fun Game

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

So, we're in the second week of the government shutdown, and just over a week from now, federal borrowing authority expires, making it possible the federal government could fail to pay many of its legal obligations that Congress previously approved. At the center of both issues is House Speaker John Boehner, who last week accused Democrats of letting the shutdown continue because Democrats felt they were winning.

REPRESENTATIVE JOHN BOEHNER: This isn't some damn game.

Read more
Around the Nation
2:37 am
Tue October 8, 2013

Anxious St. Louis Businesses Want Shutdown To End

Originally published on Tue October 8, 2013 6:26 am

Transcript

RENEE MONTAGNE, HOST:

In our continuing coverage of the impact of the partial government shutdown, we head now to St. Louis. It's home to around 25,000 federal workers, and many of them are wondering when they'll get back to work. So too are the many small businesses that rely on those workers as customers. St. Louis Public Radio's Tim Lloyd has more.

Read more
Politics
2:37 am
Tue October 8, 2013

Democrats Focus Government Shutdown Blame On Boehner

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

And the partial government shutdown has brought intense attention to House speaker John Boehner. He's working to keep Republicans united in a battle against President Obama.

INSKEEP: People close to Boehner have made it clear he did not want this fight. But urged by other lawmakers, Boehner dug in, insisting that President Obama must negotiate.

Read more
Business
2:37 am
Tue October 8, 2013

Measure To Fix 'Pint-Size' Problem In Michigan

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is pint-sized.

A bill introduced in Michigan would require that pints of beer be actual pints of beer - that is a full 16 ounces.

RENEE MONTAGNE, HOST:

Read more
Business
2:37 am
Tue October 8, 2013

Job Cuts In The Works At Alcatel-Lucent

Originally published on Tue October 8, 2013 6:26 am

Transcript

STEVE INSKEEP, HOST:

NPR business news begins with high-tech job cuts.

(SOUNDBITE OF MUSIC)

INSKEEP: The French and American telecommunications manufacturer, Alcatel-Lucent, confirmed this morning it plans to cut 10,000 jobs worldwide. A company statement said 2,100 of those cuts will be from its operations in North and South America.

Now Alcatel-Lucent has been losing money for years. About a quarter of its staff are based in the United States, where the company runs the Nobel Prize-winning Bell Labs research facility.

Read more
Law
2:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 6:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

Read more
Around the Nation
1:05 am
Tue October 8, 2013

Phase 2 Of BP Trial Focuses On Amount Of Spilled Oil

The Deepwater Horizon oil rig is seen burning in the Gulf of Mexico in April 2010. A second phase of the BP trial, which started this week, looks at just how much oil spilled into the Gulf.
Gerald Herbert AP

Originally published on Tue October 8, 2013 10:48 am

In a New Orleans courtroom this week, BP and the federal government are arguing over how much oil gushed into the Gulf of Mexico after the Deepwater Horizon explosion in 2010.

Oil flowed from the out-of-control well for nearly three months. Just how much oil spilled will be key in determining the amount BP will have to pay in federal fines and penalties.

Read more
Economy
3:31 pm
Mon October 7, 2013

In A Debt Crisis, U.S. May Have To Decide Payment Priorities

House Republicans have proposed directing the Treasury Department to pay bondholders first if there is not enough money available to pay all the nation's debts.
Carolyn Kaster AP

Originally published on Wed October 9, 2013 10:02 am

The government is just 10 days away from defaulting on its debt. Treasury Secretary Jack Lew has said that by Oct. 17, the department will likely have less money on hand than it needs to pay all its bills.

"The reality is that if we run out of cash to pay our bills, there is no option that permits us to pay all of our bills on time, which means that a failure of Congress to act would for the first time put us in a place where we're defaulting on our obligations as a government," Lew said on NBC's Meet The Press on Sunday.

Read more
Business
2:20 pm
Mon October 7, 2013

Japanese Airlines Makes Deal To Buy Airbus Planes

Originally published on Tue October 8, 2013 9:18 am

Transcript

MELISSA BLOCK, HOST:

Japan Airlines stunned the aviation world today by announcing that for the first time in the company's history, it will buy new wide-bodied jets from Airbus, the European aircraft manufacturer. The deal is worth billions and it's a big setback for Boeing, which has long dominated the Japanese aviation market. NPR's David Schaper reports.

DAVID SCHAPER, BYLINE: Airbus president and CEO Fabrice Bregier was positively beaming in Tokyo this morning in an interview with financial network CNBC.

Read more
Planet Money
2:10 pm
Mon October 7, 2013

Weirdly, A Default Could Make Investors More Eager To Lend The U.S. Money

J.P. Morgan

With the debt ceiling threshold 10 days away, the big question on everyone's mind is: what will happen if the government defaults? The story usually goes like this:

1. Congress does not raise the debt ceiling in time.

2. The U.S. defaults on its debt.

3. Financial markets immediately freak out because U.S. debt is no longer "risk free."

4. As a result, investors will start demanding higher interest rates to lend money to the U.S. government

Read more
The Two-Way
1:16 pm
Mon October 7, 2013

China Cautions U.S. Over Debt Ceiling Fight

Originally published on Mon October 7, 2013 3:56 pm

China — which holds nearly $1.3 trillion in U.S. securities (pdf) — is asking the U.S. to get its finances in order and not allow a political stalemate to cause the country to default on its obligations for the first time in history.

The United States is expected to run out of money by Oct. 17, so the Treasury needs Congress to extend its credit limit before then. As has happened before, the House and Senate are at odds and the prospects of a compromise look shaky.

Read more
The Two-Way
8:06 am
Mon October 7, 2013

In Blow To Boeing, JAL Places Nearly $10 Billion Airbus Order

An Airbus A350-900 takes off from an airport in Toulouse, France, on its maiden flight. Japan Airlines reportedly has ordered 18 A350-900s and 13 A350-1000s.
AFP/Getty Images

Originally published on Mon October 7, 2013 2:02 pm

Japan Airlines is buying $9.5 billion worth of new jetliners from Airbus, placing its first-ever order with the European plane-maker for 31 A350s to replace the carrier's aging fleet of Boeing 777s.

The airline's president, Yoshiharu Ueki, said the order was unrelated to Boeing's problems with the 787, but the huge order is seen as a major coup for the Toulouse, France-based manufacturer at the expense of its American rival.

Read more
Economy
2:55 am
Mon October 7, 2013

What's The Cost Of Budget Gridlock?

Originally published on Mon October 7, 2013 3:33 am

Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal, about the cost of the government shutdown, and the dangers of the threatened government default.

Pages