Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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President-elect Donald Trump has chosen Wilbur Ross Jr., a billionaire investor and turnaround specialist, as his commerce secretary.

Ross announced his selection Wednesday during a joint CNBC interview with longtime Wall Street banker Steve Mnuchin, Trump's pick for Treasury secretary.

"Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed," Trump said in a statement announcing his choice.

The Donald J. Trump Foundation has acknowledged in a tax filing that it violated the ban against "self-dealing," or using its assets to help its leader's business or personal interests, The Washington Post reported.

A spokesman for President-elect Donald Trump is denying a report that Trump asked Argentina's president for help with a construction project during a congratulatory telephone call after Trump's Nov. 8 victory.

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When comedian Bill Maher offered $5 million to Donald Trump if he could prove he wasn't the son of an orangutan, Trump did something he's done many times before: He sued.

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JPMorgan Chase and its Hong Kong affiliate have agreed to pay a total of $264 million in fines to settle allegations that the bank hired the friends and relatives of Chinese government officials in exchange for business.

The bank isn't being formally charged with wrongdoing, but by agreeing to pay the fines, it brings a three-year investigation by the U.S. government to a close.

President-elect Donald Trump's name will be removed from three apartment buildings on Manhattan's West Side, after almost 600 residents signed a petition demanding it.

Three of the rental buildings now known as Trump Place will be renamed 140, 160 and 180 Riverside Blvd., according to a statement emailed to NPR from the Chicago-based real estate company Equity Residential.

Mary Jo White, the chair of the Securities and Exchange Commission, will step down in January, a move that leaves the future direction of the regulatory agency more uncertain than ever.

"It has been a tremendous honor to work alongside the incredibly talented and dedicated SEC staff members who do so much every day to protect investors and our markets," White said, in a statement released today.

Federal law says anyone who works for the executive branch of the government has to avoid conflicts of interest. The Treasury secretary cannot own stock in a big bank, for instance. And Richard Painter, who served as ethics adviser under President George W. Bush, says different administrations have typically been scrupulous about following the law.

"Whenever anyone was even considering a position that would be appointed by the president, I would discuss with that person the need to sell off assets that create conflicts of interest," Painter says.

For 130 years, the hulking Bethlehem Steel Mill dominated the economy of eastern Pennsylvania's Northampton County, providing jobs for generations of residents. Today, it's been replaced by a Sands Casino.

"It was thousands of jobs. The entire south side of Bethlehem was built for the residents, the employees of Bethlehem Steel. Now it's nothing," says county resident Keith Hornik, who works at his family's construction company.

Never before has someone ascended to the presidency owning the kind of complex network of businesses that Donald Trump operates. Trump has promised to turn his company over to his three grown children to run once he's sworn in. But he has refused to do what other presidents have done to insulate himself from conflicts of interest.

For decades, global trade has been transforming the world's economy, bringing Japanese and Korean cars to North American highways, U.S. software to European computers and German machine tools to Asian factories.

But the days of explosive trade growth may be at an end.

The dollar value of world merchandise (or non-services) exports fell from $19 trillion in 2014 to $16.6 trillion last year, a decline of 13.3 percent, according to the World Bank.

The rallies and debates, the tweets and the fundraisers, the wearying last-minute swings through the same half-dozen or so battleground states — all that is winding down at last.

Today it was time for the two major presidential candidates to perform the Election Day ritual of casting their own votes, just like average Joes, except for the fact that average Joes aren't usually trailed by dozens of reporters and TV cameras.

When news broke Friday that the FBI had discovered emails that might be pertinent to its investigation of Democratic presidential candidate Hillary Clinton, stock prices suddenly took a tumble.

The decline can be explained by an unusual development in this year's long, contentious presidential campaign, says Eric Zitzewitz, a professor of economics at Dartmouth College.

Some of the country's most prominent economists have signed a letter warning that Donald Trump is a "dangerous, destructive" choice for president and urging voters to choose someone else.

The letter, first reported by The Wall Street Journal, was signed by 370 economists, including eight Nobel Prize winners.

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Saudi Arabia has raised more than $17 billion in its first foray into the global bond markets, according to news reports, as the kingdom struggles to close a budget deficit caused by declining oil prices.

The sale is the largest-ever bond offering by an emerging-market country, topping Argentina's $16.5 billion offering in August.

"Saudi's multi-part debt offering drew heavy investor demand as the world's top oil exporter sought to borrow at historic low yields," Reuters reported.

If presidential candidates Hillary Clinton and Donald Trump were consumer products, they wouldn't exactly be flying off the shelves, according to a firm that studies brand loyalty.

The Reputation Institute, which gauges how consumers view companies, politicians and even countries, gives Republican nominee Trump what it calls an overall "pulse score" of 31.7. Democratic nominee Hillary Clinton rates a bit better, at 38.7.

Any score less than 40 qualifies as having a "poor reputation," the firm says.

Excerpts from speeches Hillary Clinton was paid to give to big banks suggest a relationship with Wall Street that is a lot more familiar and pragmatic than the fiery rhetoric she has sometimes used on the campaign trail.

"I represented all of you for eight years. I had great relations and worked so close together after 9/11 to rebuild downtown, and a lot of respect for the work you do and the people who do it," she told a Goldman Sachs symposium on Oct. 24, 2013.

Wells Fargo's board of directors is trying to determine whether to claw back pay for top executives in response to the scandal involving unauthorized customer accounts, The Wall Street Journal reported.

The Journal, citing a source familiar with the matter, said the bank wants to resolve the issue before CEO John Stumpf testifies before the House Financial Services Committee on Thursday.

A spokesman for the bank refused to confirm or deny the report.

This month federal regulators fined Wells Fargo $185 million for opening checking and credit card accounts on behalf of customers who had no idea that was happening. The bank has promised to try to make restitution.

But that's a lot harder than it sounds. A big question is how to compensate people whose credit scores were hurt by what the bank did.

The founder of Rolling Stone is selling a minority share of the fabled magazine to a Singapore-based social media entrepreneur, the first time an outside investor has been allowed to buy into the property.

Several media reports say Jann Wenner has decided to sell 49 percent of the magazine, as well as its digital assets, to BandLab Technologies, a social-networking site for musicians and fans.

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

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

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

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