Originally published on Fri March 14, 2014 5:41 pm
The Federal Deposit Insurance Corp. has filed a lawsuit against 16 of the world's biggest banks, accusing them of fixing the London interbank offered rate and costing smaller, failed American banks money.
Originally published on Fri March 14, 2014 1:20 pm
UBS, which was fined $1.5 billion in 2012 for what regulators said was "routine and widespread" rigging of the London interbank offered rate, or Libor, has been censured for trying to do the same thing with Hong Kong's benchmark rate between 2006 and 2009.
As the slump in newspaper advertising revenue continues, publishers are trying to hold on to one line of stable cash - the legal notice in print. In Connecticut, municipal leaders are pushing for a change in state law that would cut back on those legal notices.
Jeff Cohen from member station WNPR has this report on the pushback from newspapers.
Today, March 14th, 3-14, is Pi Day. In case you didn't know, it's actually a national holiday - certainly an important day for math lovers. In Austin, festivities started early - with skywriting. A company called AirSign tried to write the long famous ratio across 100 miles of sky. It turned out writing Pi in the Sky was a little easier.
NPR's business news starts with BP doing business in the Gulf.
(SOUNDBITE OF MUSIC)
MONTAGNE: The petroleum company is once again allowed to seek oil leases in the Gulf of Mexico. The Environmental Protection Agency yesterday lifted a ban that kept BP from bidding on new federal contracts. The suspension had been in effect since 2012, when regulators determined that BP had not corrected problems that led to the Deepwater Horizon oil spill two years before.
Scott Clapham peers down into a cavernous dry dock at the Aker Philadelphia Shipyard. He points to massive pieces of steel, some covered with a light dusting of snow. When assembled, they will form a 115,000-ton oil tanker.
Late last year, during the holiday season, hackers somewhere in Europe stole 40 million credit and debit card numbers and tens of millions of other pieces of personal information from Target customers in the United States. As reported by Bloomberg Businessweek's Michael Riley, the malware attack wasn't particularly sophisticated or unique, and Target's security systems were extensive and ready for such an attack — and yet Target missed the early security warnings.
Things can take off fast on Twitter. And that's what happened when a couple of writers expressed how much they like riding trains, Amtrak specifically. It started with an idea: Wouldn't it be great if Amtrak would offer writers a chance to ride the rails for free and do some writing along the way? Soon, the idea was being tweeted and retweeted, and Amtrak replied: Sure.