Business & Education

The Salt
4:43 pm
Fri January 10, 2014

American Beer Fans, Praise The Heavens: A Trappist Brewery In U.S.

Spencer Trappist Ale, made by the first official Trappist brewery outside Europe, will go on sale next week in Massachusetts.
Nick Hiller The Spencer Brewery

Originally published on Mon January 13, 2014 3:27 pm

The town of Spencer, in central Massachusetts, isn't well known for ... well, anything, really. But it's about to become internationally famous — at least in beer-drinking circles.

Spencer is home to St. Joseph's Abbey, where robed monks are busy brewing the first American Trappist beer. If all goes as planned, Spencer Trappist Ale will be available in Massachusetts retail stores by the middle of next week.

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Economy
4:34 pm
Fri January 10, 2014

December Jobs Report Disappoints

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Is it a bad economy or just bad data? That's the question today after a new round of disappointing employment numbers. The government reported the economy added just 74,000 jobs in December, well below expectations. The other surprise, the unemployment rate still dropped.

NPR's John Ydstie spent the day talking with economists about the report, and many say they just don't believe it.

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Planet Money
4:31 pm
Fri January 10, 2014

How A Community Bank Tripped On Footnote 1,861 Of The Volcker Rule

Originally published on Fri January 17, 2014 11:05 am

When people talk about the Volcker Rule, they often mention JPMorgan Chase, the giant bank where a trader recently made a bad bet that lost $6 billion. The Volcker Rule is supposed to put an end to that sort of thing, by prohibiting banks from trading with their own money.

But some banks that are very, very different from JPMorgan Chase are struggling with an obscure provision in the rule. Specifically, footnote 1,861, which bars banks from investing in something called trust-preferred securities — a rather obscure investment favored by lots of small, community banks invest

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Politics
4:09 pm
Fri January 10, 2014

Tech Companies 'Gob-Smacked' To Find NSA Collecting Data

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

Changes are coming soon to the way the National Security Agency gathers information about people all over the globe. President Obama is slated to speak next Friday about what action he'll take to revamp the NSA surveillance programs, which were revealed in news leaks from former NSA contractor Edward Snowden. The president has been meeting with stakeholders for several months, including executives from some of the biggest technology firms.

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Economy
4:09 pm
Fri January 10, 2014

For Target, Holiday Woes Are Worse Than Expected

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

The retail giant Target delivered more bad news today. The company was the victim of a massive security breach before Christmas, and today it announced that that cyber-attack was much worse than originally reported. NPR's Sonari Glinton explains.

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All Tech Considered
2:11 pm
Fri January 10, 2014

Tech Week That Was: CES, T-Mobile CEO And Predictions For 2014

John Legere, CEO and president of T-Mobile USA, crashed rival AT&T's Consumer Electronics Show party and won a slew of free publicity as a result.
John Moore Getty Images

Originally published on Fri January 10, 2014 4:12 pm

It's 2014 and we're back to full team strength, which means we've returned with your guide to the week's previous tech coverage on NPR (in case you missed it) and from our friends at what seems like an ever-growing crop of tech journalism organizations.

ICYMI

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Business
1:46 pm
Fri January 10, 2014

What's Behind The Drop In Unemployment

Shoppers make a purchase at an outlet mall in Los Angeles. Employers added 55,000 jobs in the retail sector in December.
Gus Ruelas Reuters/Landov

Originally published on Fri January 10, 2014 2:20 pm

Whether you had a job or were looking for one, December was a gloomy month.

The Labor Department said Friday that for December, employers added only 74,000 jobs — about a third as many as most economists had been predicting. That was the lowest level of job creation in three years — not exactly the news that 10.4 million job seekers wanted to hear.

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Economy
10:46 am
Fri January 10, 2014

Why Getting A Job Doesn't Mean Getting Out Of Poverty

Originally published on Fri January 10, 2014 12:47 pm

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin and this is TELL ME MORE from NPR News. This week, we, like many of our colleagues, have been talking about poverty because this week marks 50 years after President Lyndon Johnson declared a war on poverty. Later this hour, we'll speak with a minister who now preaches from the same pulpit where the Reverend Martin Luther King Jr. once stood in Atlanta - Ebenezer Baptist Church. And he's asking whether the black church is still a force for addressing issues like poverty. That's later.

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Parallels
8:35 am
Fri January 10, 2014

Cuba, Land Of The $250,000 Family Sedan

Cubans look at new and used foreign-made cars for sale at a car dealer in Havana on Jan. 3.
Adalberto Roque AFP/Getty Images

Originally published on Fri January 10, 2014 12:57 pm

For the first time in more than 50 years, the Cuban government began selling new and used vehicles last week to anyone with the money to buy one. And as crowds gathered at state-owned car lots in Havana to check out the inventory, a consensus quickly emerged.

The cars on sale had either been priced by callous, greedy idiots, or the Cuban government had become the most incompetent automobile retailer in the world.

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The Two-Way
7:28 am
Fri January 10, 2014

Target Says 70 Million Individuals' Data May Have Been Stolen

Justin Sullivan Getty Images

Originally published on Fri January 10, 2014 8:52 am

The size of the data breach at Target Co. stores late last year took a sharp rise Friday when the retailer said it now estimates that up to 70 million individuals may have had information that includes their "names, mailing addresses, phone numbers or email addresses" stolen.

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The Two-Way
7:15 am
Fri January 10, 2014

Economy Adds Only 74,000 Jobs In December; Jobless Rate At 6.7 Percent

Sign of the times? A "help wanted" sign in the window of a Philadelphia business last year.
Matt Rourke AP

Originally published on Fri January 10, 2014 1:08 pm

  • On 'Morning Edition': NPR's Yuki Noguchi and David Greene preview the jobs report
We'll be posting updates after the report's 8:30 a.m. ET release.

There were only 74,000 jobs added to public and private payrolls in December, but the unemployment rate fell to a 5-year low 6.7 percent, the Bureau of Labor Statistics said Friday morning.

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The Two-Way
6:17 am
Fri January 10, 2014

Chemical Leak Causes Water Emergency In West Virginia; Plant Shut Down

In Charleston, W.Va., the shelves of this Kroger supermarket had been nearly stripped of bottled water on Thursday. Residents rushed to buy water after a chemical spill led officials to warn that they not use what's coming out of their taps.
Tyler Evert AP

Originally published on Fri January 10, 2014 6:13 pm

More than 100,000 customers of one water company in West Virginia have been warned not to drink, cook or wash with the water coming from their taps because of chemicals that seeped into the Elk River near Charleston on Thursday.

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Business
4:01 am
Fri January 10, 2014

China Releases 2013 Trade Figures

Originally published on Fri January 10, 2014 11:45 am

Transcript

DAVID GREENE, HOST:

Today's business news starts with trading places.

(SOUNDBITE OF MUSIC)

GREENE: China might have just dislodged the United States from a position it held for decades as the world's top trading nation. The latest Chinese figures put the value of its overall trade at $4.6 trillion last year.

The United States will release its own 2013 data next month. But for the first 11 months of the year, its trade was worth $3.5 trillion. Transcript provided by NPR, Copyright NPR.

Technology
4:01 am
Fri January 10, 2014

Startups Often Focus On Data Security Too Late, If At All

Originally published on Fri January 10, 2014 11:45 am

Transcript

STEVE INSKEEP, HOST:

This year's Consumer Electronics Show in Las Vegas includes companies that promise to revolutionize medicine as we know it. They're using sensors and systems like Wi-Fi Internet connections and Bluetooth to monitor the human body on a constant, real-time basis. Critics say this high-tech medicine is leaving security concerns behind.

Aarti Shahani reports from member station KQED.

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Business
4:01 am
Fri January 10, 2014

Alcoa To Pay $384 Million Penalty For Bahrain Bribes

Originally published on Fri January 10, 2014 11:45 am

Transcript

STEVE INSKEEP, HOST:

And let's keep talking about international trade here. The American aluminum giant Alcoa and one of its subsidiaries will pay $384 million in fines to the United States government for engaging in corrupt practices overseas.

The payment is part of a settlement in a bribery case involving the royal family of Bahrain.

NPR's John Ydstie reports.

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