BP is fighting the settlement it agreed to last summer that let the oil company avoid thousands of potential lawsuits over the 2010 Gulf of Mexico oil spill.
Just after the spill, when oil was still gushing into the Gulf, BP touted the $20 billion it set aside for claims. But now it says the claim process is corrupt and is hoping a court will overturn the settlement that established the claims fund.
Ending the claims would mean stopping a well-oiled machine.
Suntory's 30-year-old Hibiki whiskey took home the top award at the International Spirits Challenge in 2003. This unexpected triumph was Japanese whiskey's big coming-out party on the global spirits stage.
Originally published on Thu September 5, 2013 6:31 pm
Scotland is the de facto king of whisky. But now an unlikely challenger — Japan — is making a name for its whiskey far beyond its borders. Unfortunately for Americans, this highly coveted Japanese whiskey is very hard to come by.
Originally published on Thu September 5, 2013 4:12 pm
The National Security Agency has the keys to most Internet encryption methods and it has gotten them by using supercomputers to break them and by enlisting the help of private IT companies, The New York Times and The Guardian are reporting.
A waiter serves patrons at Tony's Restaurant, part of the Casablanca Hotel in New York's Times Square. The custom at some restaurants of automatic gratuities for larger parties might change because of an IRS rule change.
Originally published on Thu September 5, 2013 1:51 pm
Gratuity included? A new IRS rule could end, or at least curtail, the practice.
The Internal Revenue Service will soon begin classifying automatic gratuities as service charges that are taxable as regular wages and subject to payroll tax withholding. Currently, they're considered tips, and it's up to the wait staff to report them as income.
With its meticulous criminal craftsmen, cheap labor and, by some accounts, less effective law enforcement, Peru has in the past two years overtaken Colombia as the No. 1 source of counterfeit U.S. dollars, says the U.S. Secret Service, protector of the world's most widely traded currency. ...
NPR's business news starts with car sales accelerating.
The Wall Street Journal is reporting that buyers picked up new vehicles at a pace not seen since before the recession. According to the paper, Americans bought 1.5 million vehicles last month - about 17 percent up from a year ago. Low interest rates and continued job growth were primary drivers. Automakers have added work shifts and production capacity to keep up with demand. Transcript provided by NPR, Copyright NPR.
Companies that collect and sell information about you are usually pretty secretive about what they have on you. But one of the biggest data brokers is now letting consumers have a peek.
Yesterday, the Acxiom Corp. set up a website where people can look themselves up. It's called AboutTheData.com. As NPR's Martin Kaste reports, some of the first people to try it were the data industry's critics.
Chevrolets are lined up in a field near the Lambrecht Chevrolet dealership in Pierce, Neb. Later this month, bidders will attend a two-day auction that will feature about 500 old cars and trucks, many with fewer than 10 miles on the odometer.
Credit Nati Harnik / AP
The owner of the dealership wouldn't sell trade-ins or the previous year's model once the new ones came out, keeping most of the old inventory outside. He closed his dealership in 1996 and is just now selling off his collection.
Credit Ryan Robertson / NET News
Auctioneer Yvette VanDerBrink in front of a 1963 Chevrolet Impala and a 1958 Cameo pickup truck at the Lambrecht Chevrolet car dealership.
Inside the Lambrecht Chevrolet Company in tiny Pierce, Neb., under layers of dirt, sit a dozen classic cars. A 1978 Chevrolet Indy Pace Car, black with racing stripes down the side. There's a '66 Bel Air sedan in a color called tropic turquoise, and a 1964 impala.
"If you wipe away the dirt, it's shiny underneath," says auctioneer Yvette VanDerBrink. Even though this car is almost 50 years old, VanDerBrink says, it's still brand new.
Later this month Lambrecht's will auction more than 500 classic cars, many with fewer than 10 miles on the odometer.
Originally published on Wed September 4, 2013 5:59 pm
The U.S. economy held steady with "modest to moderate" growth between early July and late August, as Americans bought more cars and auto factories ramped up hiring.
The Federal Reserve's so-called Beige Book, comprising reports from 12 geographic districts around the country, showed that manufacturing activity "expanded modestly" and that several districts reported that "demand for inputs related to autos, housing, and infrastructure were strong."
Originally published on Wed September 4, 2013 1:44 pm
U.S. competitiveness among global economies suffered after the 2008 global economic crisis. Four years after the crisis, the U.S. slipped in the World Economic Forum's annual competitiveness ranking. This year it's back up a bit: The U.S. rose to fifth position overall from seventh last year, in the forum's latest survey, which was released Wednesday.