Business

Business
1:16 pm
Mon December 31, 2012

Deal To Avert 'Fiscal Cliff' Appears Likely

The Capitol is illuminated in Washington, where the House and Senate remain in session. The two chambers will miss a deadline to avoid the "fiscal cliff" tonight, as 2013 begins.
Drew Angerer Getty Images

Originally published on Tue June 4, 2013 10:01 am

  • NPR's coverage of President Obama's comments on the "fiscal cliff" talks

Update at 9:45 p.m. Deal Reached

Vice President Joe Biden was meeting late Monday with Senate Democrats to brief them on a proposed deal to stop sharp tax increases and spending cuts. A source told NPR the deal with congressional Democratic and Republican leaders includes a mix of both.

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Business
10:55 am
Fri December 28, 2012

Jobless Claims Fell By 12,000 Last Week

The line at a job fair earlier this month in Manhattan.
John Moore Getty Images

Originally published on Thu December 27, 2012 8:45 am

There were 350,000 first-time claims for unemployment benefits last week, down 12,000 from the week before, the Employment and Training Administration reports. That's the lowest level since early March 2008.

The agency adds that "the 4-week moving average," which tends to smooth out some of the volatility that comes with the weekly figures, "was 356,750, a decrease of 11,250 from the previous week's revised average of 368,000."

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Business
4:23 pm
Thu December 27, 2012

Federal Government Prepares For Uncertain Landing After 'Fiscal Cliff'

Originally published on Thu December 27, 2012 9:40 pm

With negotiations to avoid the "fiscal cliff" uncertain at best, the Obama administration is trying to tamp down anxiety in the federal workforce.

The administration's message to various federal agencies is that there will be little immediate effect on public employees from the budget cuts scheduled to take effect next week if a deal is not reached. Treasury Department employees, for instance, were told not to expect "day to day operations to change dramatically on or immediately after January 2."

For workers, of course, that's good news.

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Business
3:25 am
Wed December 26, 2012

Wall Street Wiretaps: Investigators Use Insiders' Own Words To Convict Them

Raj Rajaratnam, center, billionaire co-founder of Galleon Group, is surrounded by photographers as leaves Manhattan federal court May 11 after being convicted of insider trading charges.
Mary Altaffer AP

Originally published on Wed December 26, 2012 6:07 am

It was another busy year for federal authorities pursuing insider trading cases. Seventy-five people have now been charged in the last three years, and investigators say that success comes largely from their decision to attack insider trading the way they take down the Mafia and drug cartels — with tools such as wiretaps, informants and cooperators.

The story behind how the government decided to go after insider trading as hard as it goes after the mob is really just a story about dead ends.

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Business
3:23 am
Wed December 26, 2012

Who Could Be Watching You Watching Your Figure? Your Boss

Mobile apps and devices track a user's health statistics. But those data are sometimes sold and can end up in the hands of employers and insurance companies.
iStockphoto.com

Originally published on Wed December 26, 2012 2:28 pm

Those of us trying to lose some pounds after overindulging this holiday season can get help from a slew of smartphone apps that count steps climbed and calories burned. Self-tracking has also become a way for companies to make money using your fitness data. And some experts worry that the data collected could be used against users in the long run.

At a recent Quantified Self Meetup in downtown San Francisco, technology lovers are testing homemade do-it-yourself devices on people eager to measure their mind and body.

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Business
4:03 am
Tue December 25, 2012

Back To The Economy Of The '90s? Not So Fast

A lone employee oversees Hewlett-Packard workstations being assembled at a plant on Jan. 1, 1993. Huge improvements in computer technology propelled the economy during that decade.
Ovak Arslanian Time

Originally published on Tue December 25, 2012 9:42 am

Throughout the debate over taxes and the "fiscal cliff," there's been a lot of looking backward — to the 1990s. The economic expansion of the 1990s was the longest in recorded American history.

Democrats say the economy thrived under the leadership of President Bill Clinton, including his tax rate increase on high earners. Republicans say government didn't spend as much then and that growth didn't really take off until the GOP took control of Congress in 1995.

So what actually happened in the '90s? What made them tick?

A Unique Boom

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Business
5:03 pm
Thu December 20, 2012

Next In Line For A Fracking Boom, California Looks At The Rules

Most hydraulic fracturing in California is done to extract to oil in areas like this field in Kern County. The state is drafting fracking regulations for the first time.
Craig Miller KQED

Originally published on Thu December 20, 2012 10:18 pm

The controversial drilling technique known as hydraulic fracturing has created an oil and gas boom around the country. In states like Texas, Pennsylvania and Colorado, there's been heated debate about rules that protect groundwater and public health.

California is now wading into that arena with the release of the state's first fracking regulations. The state's earthquake-prone geology, however, could bring particular concerns.

Fracking itself isn't new. The technology behind it, though, has changed.

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Business
11:32 am
Thu December 20, 2012

From Shoes To M&M's, Custom-Made Products Take Off Online

High school student Jon Ledbetter designs his own "NikeiD" sneakers. Ledbetter can post his designs on Nike's website, where other shoppers can also order them.
Kathy Lohr NPR

Originally published on Thu December 20, 2012 1:53 pm

It wasn't long ago that all consumers went to retail stores to buy things. These days, of course, you can get just about anything online. Some companies are now taking that shopping experience to the next level, allowing customers to design almost anything individually — from a trench coat to a batch of M&M's.

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Business
10:36 am
Wed December 19, 2012

U.S. Will Sell Off Its General Motors Stock

General Motors is buying back stock from the U.S. government.
Paul Sancya ASSOCIATED PRESS

In a statement early this morning, the Treasury Department says it's going to "exit" its investment in General Motors. The federal government holds just over 500 million shares of GM stock.

The automaker will buy 200 million of those shares, and the government will dispose of the rest "in an orderly fashion" over the next year and a half, depending on market conditions.

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Business
6:07 pm
Tue December 18, 2012

The Day Instagram Almost Lost Its Innocence

Instagram was the target of a storm of outrage on Twitter and other sites after the company announced a change in its user agreement that hinted that it might use shared photos in ads.
Karly Domb Sadof AP

Originally published on Thu December 20, 2012 3:16 pm

The wildly popular photo-sharing site Instagram nearly caused a user revolt when it revamped its terms of service and privacy policy to suggest it could allow uploaded photos to be used in ads without users' permission.

The change — which was posted in dense legalese on its website Monday — sparked users to vow to stop posting their color-filtered, tilt-shifted photos to Instagram.

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Business
5:19 pm
Tue December 18, 2012

Investors, Retailers Shy Away From Guns; Will It Last?

Rifles are displayed for sale at a gun shop in Aurora, Colo., in July. Gun makers are feeling isolated by changing public attitudes.
Alex Brandon AP

It's a nervous time for companies that make and sell guns.

On Tuesday, Cerberus Capital Management, a private equity firm, announced it was selling its stake in Freedom Group, maker of the American Bushmaster AR-15 rifle, which was used in the Newtown killings last Friday, along with other brands such as Remington.

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Business
2:35 pm
Tue December 18, 2012

Coal May Pass Oil As World's No. 1 Energy Source By 2017, Study Says

China and India are projected to propel coal's challenge of oil as the world's top energy source within the next five years, according to a new study. Here, a man rides a bicycle toward a coal-fired power station in China's Guangdong province last year.
Mark Ralston AFP/Getty Images

Originally published on Mon March 25, 2013 2:49 pm

Despite a slowdown in U.S. consumption, coal is poised to replace oil as the world's top energy source — possibly in the next five years, according to the International Energy Agency. The rise will be driven almost entirely by new energy demands in China and India, the IEA says.

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Business
3:32 am
Mon December 17, 2012

Afghan Woman Carves Out An Entrepreneurial Niche

Fatima Jafari, owner of Bamboo Wood Industries, listens to a worker in her factory in Kabul, Afghanistan. Jafari is one of the few female entrepreneurs in an industrial trade in the country, despite international efforts to support women in business.
Sultan Faizy NPR

Originally published on Mon December 17, 2012 9:49 am

Behind a tall metal gate in a nondescript nook of Kabul sits the Bamboo Wood Industries factory. It's not a place you're likely to stumble across by accident. Inside, a handful of men are cutting, painting and assembling desks and cabinets. The pieces being made are chocolate brown and quite modern looking.

Sitting in a spartan, unheated office above the factory floor is Fatima Jafari, the owner of the company. The 30-something woman started the business a little over a year ago.

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Business
3:31 am
Mon December 17, 2012

New Car Features May Keep Older Drivers Out Of The Big Yellow Taxi

Former British politician Ann Widdecombe tests Ford's active park assist feature in the U.K. in July 2011.
Ford Motor Co.

Originally published on Mon December 17, 2012 4:08 pm

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Business
8:48 am
Fri December 14, 2012

Inflation Is In Check; Consumer Prices Fell 0.3 Percent In November

Sign of the times: Markdowns at a discount clothing store in New York City last month. Such stiff competition for consumers' dollars is helping to keep inflation in check.
Spencer Platt Getty Images
  • From 'Morning Edition': Does The CPI Need A Fix?

A sharp drop in the cost of a gallon of gasoline helped pull consumer prices down 0.3 percent in November, the Bureau of Labor Statistics reports.

According to BLS, gas prices plunged 7.4 percent last month.

Excluding the food and energy sectors, the so-called core rate of inflation rose just 0.1 percent.

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Business
3:24 am
Fri December 14, 2012

Why A Principal Created His Own Currency

David Kestenbaum NPR

Originally published on Fri December 14, 2012 2:43 pm

Shawn Rux took over as principal of MS 53, a New York City middle school, last year. At the time, 50 or 60 kids were absent every day. You could understand why they stayed away: The school was chaos.

Twenty-two teachers had quit, the entire office staff had quit, and hundreds of kids had been suspended. The school was given a grade of F from the city's department of education.

"It was in a bad place," Rux says.

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Business
3:17 am
Fri December 14, 2012

Farewell, Bosses: A Wave Of Young Entrepreneurs

To save money, 30-year-old Alisha Mustafa runs her small pie-making business out of the kitchen of another restaurant.
Mustafa Pie Co.

Originally published on Fri December 14, 2012 5:33 am

Thirty-year-old Alisha Mustafa spent years working at low-paying restaurant jobs. The unemployment rate hovers around 10 percent in her hometown of Bloomington, Ind.

"I've worked it all in this town," she says. "I've worked for so many restaurants, and last year was my year from hell in the industry."

So, she quit and started her own business. Now, she spends most days baking treats like gluten-free strawberry mango pie for her business, Mustafa Pie Co.

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Business
6:00 pm
Wed December 12, 2012

Who Needs College? Young Entrepeneuer Bets On Bright Idea For Solar Energy

Eden Full took time off from her studies at Princeton University to work on her startup full time, after being selected for the inaugural class of the 20 Under 20 Thiel Fellowship.
Della Rollins

Originally published on Thu December 13, 2012 10:44 am

Eighteen months ago Eden Full was finishing up her sophomore year at Princeton University. She was on the crew team as a coxswain. She had spent the previous summer in Kenya building an innovative, low-cost contraption to make solar panels more efficient.

Full was glowingly successful — the kind of college student who ends up profiled in alumni magazines.

But Full had decided to drop out.

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Financial News
5:31 pm
Mon December 10, 2012

News from Chornyak & Associates

We at Chornyak & Associates wish our clients and friends all of the joys that the holiday season has to offer.  Let's all put aside our concerns for the country's financial future and have a truly peaceful and festive season with friends and family!  Columbus offers lots of holiday activities to extend the celebration outside the home.  

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Business
9:20 am
Mon December 3, 2012

Murdoch's News Corp. Shuts Down 'The Daily'

News Corp. CEO Rupert Murdoch in February 2011, when The Daily was launched. Now, it's in shutdown mode.
Spencer Platt Getty Images

Originally published on Mon December 3, 2012 10:01 am

Saying that "we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long-term," News Corp. CEO Rupert Murdoch said this morning that The Daily will "cease standalone publication" on Dec. 15.

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