Business & Education

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The way most companies first sell their shares to the public is tried and true; hire an investment bank, do a roadshow, agree to a lockup period, etc etc.

But Spotify is doing none of those things. In fact it's not doing an initial public offering at all: it's doing a direct public offering instead.

It's an unusual move. but if it works, it could change the way a big part of Wall Street business is done.

Links:
How ans IPO gets done, step by step (CNBC)

Updated at 6:45 p.m. ET

A self-driving car operated by Uber struck and killed a pedestrian who was walking her bicycle in Tempe, Ariz., Sunday night. The incident could be the first pedestrian death involving a self-driving vehicle.

The car was in autonomous mode but had a human riding along to take control of the vehicle if necessary, according to the Tempe Police Department. The victim, 49-year-old Elaine Herzberg, was struck while walking outside a crosswalk, police said. She was immediately transported to a local hospital, where she died.

On small peasant farms across Colombia, panela, or unrefined whole cane sugar, is grown, picked and processed entirely by hand. It constitutes the basic economy for hundreds of municipalities, and is second only to coffee in the number of people engaged in its production.

As Venezuela reels from hyperinflation that has caused a severe shortage of cash, one city is trying to mitigate the problem by printing its own currency.

Elorza, in western Venezuela near the border with Colombia, is selling its own bills featuring the image of an independence leader from the area, according to Reuters.

Shoppers and consumer advocates are up in arms after finding out that major retailers have been keeping closer tabs on them than they thought.

Retailers such as Best Buy, Victoria's Secret and The Home Depot have been working with a third-party organization to manage a database that determines which of their consumers should be banned from making returns, The Wall Street Journal reports.

There's a big movement among major retail companies to become more than just places that sell you things. In the latest example, Walmart is partnering with a home-services app called Handy to give shoppers a deal on professional help assembling furniture or installing a TV.

A real estate venture formerly run by Jared Kushner falsified construction permits for dozens of apartment buildings it owned in New York City, allowing the company to push out rent-controlled tenants and boost profits when it later sold the properties, according to a report by The Associated Press.

Celina Raddatz quit her job at a nursing home in 2014 when she realized she would have to take care of her mother full-time. Raddatz's mother, Guadalupe Pena Villegas, 83, suffers from Alzheimer's and bipolar disorder, a combination that sometimes makes her a danger to herself and others, and thus requires her to be supervised 24 hours a day.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

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Singer Rihanna denounced an ad that appeared on Snapchat making a game of domestic violence that featured photographs of her and Chris Brown. And the social media app's stock price went tumbling.

"Now SNAPCHAT I know you already know you ain't my fav app out there," Rihanna said in a statement posted Thursday on rival social media platform Instagram, where she has 61 million followers. "I'd love to call it ignorance, but I know you ain't that dumb! You spent money to animate something that would intentionally bring shame to DV victims and made a joke of it!!!"

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

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Ten years ago, the investment bank Bear Stearns collapsed, and the government stepped in to broker a bailout.

William D. Cohan thinks that was a mistake. He wrote about Bear in his book, House of Cards.

He talked to us about what happened then and what's changed since.

When President Trump announced that the United States would impose tariffs on steel and aluminum imports earlier this month, European allies warned that they could retaliate. Targets might include classic American exports such as bourbon, blue jeans and Harley-Davidson motorcycles.

Now, the European Union has published a 10-page list of hundreds of U.S. products that could be subject to European tariffs.

Updated at 10:05 p.m. ET

Florida transportation officials say that an engineer with the private firm that designed the concrete bridge that collapsed Thursday called the state two days before the incident to report cracks in the structure.

It's not immediately known whether the reported cracks contributed to the collapse of the pedestrian walkway that was intended to join the campus of Florida International University and the city of Sweetwater.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

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The United States oil business is booming and the country could soon be the largest crude oil producer in the world. Despite this record-breaking production, climate change activists campaigning to move away from fossil fuels say they are making progress.

For all his harsh rhetoric about unfair trade practices by China, President Trump stopped short of taking any punitive actions against Beijing during his first year in office.

But that may be about to change.

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

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In the latest battle involving the works of Harper Lee, the author's estate is suing producer Scott Rudin over the script of an upcoming Broadway play of To Kill A Mockingbird.

In a lawsuit filed in federal court in Alabama, Lee's estate complains that the new production by Rudin and writer Aaron Sorkin deviates too much from the novel.

Bill McBride has been making accurate predictions on his blog, Calculated Risk, about the trajectory of the U.S. economy since before the financial crisis.

He's been consistently optimistic for years, but he recently revised his usually sunny outlook.

Today he tells us why.

Every person who has seen the Las Vegas Strip in the past three decades has experienced Steve Wynn's impact. The 1989 grand opening of his brainchild, the Mirage Resort & Casino, ushered an era of excitement and creativity into an otherwise stagnating tourism industry and set an example that the Strip still follows. The Mirage property was unprecedented in its size and upscale show offerings, but the design of the building itself was groundbreaking. This was the first time that Las Vegas had seen a casino function as a carefully designed sensory experience.

Peter Sands took over this month as the new head of the Global Fund to Fight AIDS, Tuberculosis and Malaria. But before he'd even officially taken his seat at the Fund's offices in Geneva, he was under attack for a new partnership with Heineken.

Updated 1:04 p.m. ET

The "substantial doubt" that iHeartMedia's corporate leaders expressed around the company's likelihood of surviving another year, mentioned in its quarterly financial report last November, has been put to rest.

A day after United Airlines faced a backlash over a dog's death in an overhead luggage compartment, the company is dealing with another canine-related mistake after a German shepherd meant for Kansas was instead flown to Japan.

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Copyright 2018 NPR. To see more, visit http://www.npr.org/.

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Elizabeth Holmes, the 34-year-old founder and CEO of the health technology company Theranos, had a compelling story of dropping out of college to launch a multibillion-dollar Silicon Valley venture to revolutionize the blood-testing industry.

Copyright 2018 WSHU. To see more, visit WSHU.

RACHEL MARTIN, HOST:

The Senate has approved a bill that eases regulations on banks. The legislation had broad bipartisan support, but it doesn't go nearly as far as Republicans in the House had wanted. From member station WSHU, Charles Lane reports.

Updated at 7:10 p.m. ET

After decades of being the go-to toy store for many Americans, Toys R Us is officially going out of business. Unable to get its finances in order through a months-long bankruptcy process, the retail chain has reached the end of the line.

It's a normal weekday at the Port of Vancouver. That means by noon, piles of steel slab cover the work yard at the docks on the Columbia River.

"Steel is tied to about a third of our revenue. So that's pretty substantial," says Abbi Russell, communications manager for the Port of Vancouver in Washington state, the second-largest importer of steel products on the West Coast. In 2017, the port unloaded 712,834 metric tons of steel.

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