WCBE

Business

Business news

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

DAVID GREENE, HOST:

Well, the House of Representatives is now back to work. Republican House Speaker Paul Ryan has already decided on the first order of business, and it's a pretty big one.

(SOUNDBITE OF SPEECH)

Oh, the irony.

Historically, when political tensions increased in the Middle East, the price of oil rose too. Buyers of oil worried that conflicts could interrupt drilling or interfere with oil-tanker access to waterways. In theory, when risks rise, so do prices.

But in recent days, even as tensions have been growing between two key oil producing nations — Iran and Saudi Arabia — oil prices have been falling. They slipped below $36 a barrel on Tuesday.

Why?

The notion of a gun smart enough to tell who's holding it isn't new.

Since the 1990s, inventors have been developing firearms geared with technologies that can authenticate their users — for instance by recognizing the fingerprint, the grip or an RFID chip — and stop working if held by the wrong hands.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

KELLY MCEVERS, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

DAVID GREENE, HOST:

Japan has made progress recently in getting more women to join the workforce. The latest numbers show a greater percentage of Japanese women work outside the home than American women. But for a rapidly aging and shrinking population, that progress may not be fast enough.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

KELLY MCEVERS, HOST:

If you hail a ride using the on-demand app Lyft, that car could one day be self-driving.

On Monday, Lyft announced a new partnership with General Motors, which is pumping half a billion dollars into the software startup and joining the board. One of the things they're doing is planning to build an autonomous fleet.

They haven't released a specific timeline on when, though in the future, when you call the on-demand car service, the vehicle likely won't have a human driver.

Volkswagen's use of a "defeat device" to fool U.S. regulators has resulted in a federal lawsuit against the company. Volkswagen has acknowledged that millions of its diesel cars worldwide relied on a ruse to skirt emissions controls.

The civil complaint was filed in federal court in Detroit, with the Department of Justice acting on behalf of the Environmental Protection Agency — which says it hasn't yet reached an acceptable agreement with Volkswagen over how to handle a recall.

China's stock markets stumbled badly on the first day of trading in 2016, with a 7 percent plunge forcing a market shutdown. The trigger mechanism that cut the day short in Shanghai and Shenzhen was created in response to last year's market crash, which brought trillions in losses.

We change our minds about purchases a lot in the U.S., especially after the buying binge of the holidays. Returns cost retailers about $260 billion each year. That doesn't include the cost to the environment of all that producing, shipping, and throwing away.

One of the companies on the receiving end of all those returns is trying to reduce the cost to retailers, and the cost to the environment.

The weekend after Christmas has typically been big business for retailers, as people return gifts — and buy new ones for themselves. But some brick-and-mortar retailers are struggling this holiday season, facing the dual problems of overexpansion and an increasingly demanding consumer base that likes the ability to shop online.

If you own a commercial building in America, chances are you're going to take out terrorism insurance. It has moved into the mainstream with the depressing frequency of international incidents. Six in 10 major businesses in America are insured for terrorism damage, according to the Insurance Information Institute, although the coverage is rarely used.

Congress is getting closer to lifting a 40-year-old ban on oil exports, a move that could be a boon for U.S. oil producers hoping to expand into the global market.

President Obama and environmentalists oppose ending the ban, but Congressional leaders made it part of a $1.14 trillion spending bill, unveiled Tuesday, greatly increasing its chance of passage.

The Federal Reserve is expected to start raising interest rates later this week, and anyone who's ever bought a house — or thought about it — knows that if mortgage rates rise by much that will make it tougher to afford a home.

Homebuilders are watching the interest rate decision closely too. That's because this 100-year flood of a housing crash has been especially tough on them.

De Desharnais, a homebuilder in Nashua, N.H., says she's one of the lucky ones — her company survived the crash. But it didn't come without pain.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

RENEE MONTAGNE, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

CORY TURNER, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Newell Rubbermaid said today that it will acquire Jarden Corp., paying nearly $16 billion to acquire all of its stock and debt.

The deal brings together two companies with numerous familiar consumer brands under one roof, creating a single entity to be known as Newell Brands.

Royal Dutch Shell says it plans to cut 2,800 jobs after it completes the takeover of the BG Group.

The news comes on the same day that China gave the deal the final go-ahead.

NPR's Jeff Brady reports for our Newscast unit:

"The cut of 2,800 positions accounts for about 3 percent of Shell and BG's combined global workforce.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

The two largest chemical companies in America will become one entity named DowDuPont, as Dow Chemical and DuPont say they're joining in a "merger of equals." The new company will have a market capitalization of around $130 billion.

After the merger, the resulting behemoth would be split into what Dow Chairman and CEO Andrew Liveris calls "three powerful new companies," with a combined revenue of around $83 billion.

Citing a potential fire hazard, major U.S. airlines are banning hoverboards from their cabins and cargo holds. Announcing its ban, Delta acknowledged the toy's "presence on many gift lists this holiday season" but said safety comes first.

The bans come as the U.S. Consumer Product Safety Commission says it's looking into at least 10 reports of the self-balancing electric scooters bursting in flames — an occurrence that's allegedly been captured on video, in some cases.

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

Transcript

KELLY MCEVERS, HOST:

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

Transcript

AUDIE CORNISH, HOST:

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

Transcript

AUDIE CORNISH, HOST:

The middle class no longer represents America's majority. That's according to a report from the Pew Research Center. Rakesh Kochhar is the report's lead author, and we welcome him to the program now. Hey there, Rakesh.

Wal-Mart is launching a new mobile pay system, allowing customers to use their smartphones to pay for purchases with credit, debit, prepaid or gift cards.

The service will be available in select stores this month, and across the country next year, the retail giant says.

The National Highway Traffic Safety Administration has imposed a $70 million civil fine on the parent company of Chrysler for failing to report safety data.

A statement from the agency said Fiat Chrysler Automobiles, or FCA, has acknowledged that it failed to turn in "early warning report" data about accidents, warranty claims and safety issues. The data are used to identify potential defects that could lead to a recall, the agency said.

Volkswagen's emissions cheating scandal was the result of a "chain of errors," Chairman Hans Dieter Pötsch said Thursday, admitting that the fault extends to the company as a whole, rather than a handful of rogue engineers.

Pages