Business & Education

All Tech Considered
2:04 am
Thu December 19, 2013

Bay Area's Steep Housing Costs Spark Return To Communal Living

Residents of the Embassy House, a communal home near San Francisco's Haight-Ashbury district, eat dinner together every Sunday.
Elise Hu NPR

Originally published on Thu December 19, 2013 11:08 am

This week, we're exploring the San Francisco Bay Area and the way income inequality is affecting the region. Check out the other pieces of the week, aggregated on this page.

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Planet Money
4:49 pm
Wed December 18, 2013

A Tiny Taper, In 2 Graphs

Tapir
Flickr

In the past five years, the Federal Reserve has created roughly $3 trillion out of thin air.

The Fed uses the money it creates out of thin air to buy bonds. The idea is to drive down interest rates, which encourages people and businesses to borrow and spend money. It's called quantitative easing.

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The Two-Way
4:46 pm
Wed December 18, 2013

Top SAC Capital Manager Guilty Of Insider Trading

Michael Steinberg (left) departs federal court in Manhattan on Wednesday after being found guilty on charges that he traded on insider information.
Lucas Jackson Reuters/Landov

Originally published on Wed December 18, 2013 6:42 pm

Michael Steinberg, a top portfolio manager at SAC Capital Advisors, has been found guilty of insider trading — the latest conviction stemming from a years-long federal investigation into the hedge fund's activities.

Steinberg was found guilty on five counts of conspiracy and securities fraud.

Reuters writes:

"Prosecutors said he traded on confidential information that was passed to him by an employee, who later admitted to swapping illegal tips with friends at other firms."

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Economy
4:03 pm
Wed December 18, 2013

Federal Reserve To Cut Stimulus By $10 Billion A Month

Originally published on Wed December 18, 2013 5:34 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

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Shots - Health News
3:00 pm
Wed December 18, 2013

People Buying Health Insurance Get A Bit More Time To Pay

Oregon is still using paper applications to enroll people through the Affordable Care Act.
iStockphoto

Originally published on Wed December 18, 2013 5:34 pm

There are seven shopping days left until Christmas. But there are just five days until another important deadline — the last day to sign up for health insurance under the Affordable Care Act if you want coverage to start January 1.

After a slow start, activity on the federal website HealthCare.gov has been heavy all month. And with the deadline approaching, some people are getting worried that they won't get signed up in time.

And this being the health care law, it's complicated. There is more than one deadline.

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The Salt
1:56 pm
Wed December 18, 2013

The Man Who Duped Millionaires Into Paying Big Bucks For Fake Wine

iStockphoto

Originally published on Fri December 20, 2013 3:32 pm

He was the man with "the nose of a blood hound," as one wine critic once put it.

Rudy Kurniawan was once the toast of the fine-wine world, renowned for his ability to find some of the rarest — and priciest — wines in the world.

He was also, prosecutors alleged, a fraud who duped some of the country's wealthiest wine purchasers with counterfeit bottles of wine that he manufactured in his home laboratory.

And on Wednesday, a Manhattan jury agreed, finding Kurniawan guilty of fraud in connection with selling counterfeit wines and of defrauding a finance company.

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The Two-Way
1:45 pm
Wed December 18, 2013

Fed Says It Will Begin Tapering Off Its Stimulus In January

Federal Reserve Chairman Ben Bernanke delivers remarks Wednesday in Washington, at his final planned news conference before he steps down.
Jonathan Ernst Reuters/Landov

Originally published on Wed December 18, 2013 6:31 pm

(This post was last updated at 3:50 p.m. ET)

Citing an improving economy, the Federal Reserve announced Wednesday that it would begin gradually paring back an $85 billion-a-month bond-buying program aimed at stimulating growth.

The move was seen as a tentative vote of confidence and comes amid an improving jobs picture and other positive signs as the U.S. continues struggles to emerge from the worst downturn since the Great Depression.

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The Two-Way
12:01 pm
Wed December 18, 2013

Ex-BP Engineer Found Guilty Of Obstructing Justice

Former BP drilling engineer Kurt Mix, who has been convicted of obstructing justice.
Jonathan Bachman AP

The first of four current or former BP employees charged with crimes related to the 2010 Gulf oil spill has been found guilty of obstructing justice because he deleted text messages from his cellphone that contained information about the worst offshore spill in the nation's history.

NPR's Debbie Elliott tells our Newscast Desk that a federal jury in New Orleans convicted 52-year-old Kurt Mix on Wednesday.

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It's All Politics
10:32 am
Wed December 18, 2013

5 Things We Learned From The Budget Debate

Majority Leader Harry Reid, D-Nev., takes a break from the Senate floor Tuesday after a bipartisan budget compromise cleared a procedural hurdle.
J. Scott Applewhite AP

Originally published on Wed December 18, 2013 4:08 pm

Now that the bipartisan budget agreement has passed the Senate and is headed for the president's desk, it's a good time to consider some of the takeaways from the past two weeks of congressional Sturm und Drang.

Here are five:

Congress still works, sort of.

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Monkey See
8:07 am
Wed December 18, 2013

Two Ways Of Seeing An iPhone Christmas

Screen shot

Originally published on Wed December 18, 2013 4:44 pm

Apple recently released a Christmas ad it calls "Misunderstood."

In it, a kid — maybe 14 or so? — spends Christmas with his family. He seems to be always looking at his phone when everybody else is decorating the tree, making a snowman, skating, or whatever else they're doing. He smiles, but he sets himself apart.

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The Two-Way
8:03 am
Wed December 18, 2013

Already Down 50 Percent, Will Bitcoin Bite The Dust?

How low will they go?
Jens Kalaene DPA/LANDOV

Originally published on Wed December 18, 2013 9:00 am

Talk about a fall:

"Prices of virtual currency bitcoin fell 20% Wednesday and are now down more than 50% from their record high hit two weeks ago amid worries that China is moving to block the purchase and use of the currency by its citizens," The Wall Street Journal writes.

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Business & Education
5:42 am
Wed December 18, 2013

Mercedes-Benz expands its Alabama plant

Mercedes-Benz

VANCE, Ala. (AP) - Mercedes-Benz is opening a new section at its plant in Tuscaloosa County. The German automaker is cutting the ribbon on a $70 million logistics center at its automotive factory in Vance on Wednesday afternoon. Gov. Robert Bentley is among the officials planning to attend the event. About 600 contractors and service providers will work in the 900,000-square-foot building. They will be responsible for handling almost 3 million parts a day. The facility will receive components and organize them into the proper order for the manufacturing process.

Business
4:37 am
Wed December 18, 2013

Virtual Currency Bitcoin Drops In Value

Originally published on Wed December 18, 2013 7:02 am

The tumble is due in part to China's central bank which had issued a warning about the currency.

Business
4:37 am
Wed December 18, 2013

British Monetary Officials Announce Changes

Originally published on Thu December 19, 2013 10:09 am

Transcript

DAVID GREENE, HOST:

And changes may be brewing when it comes to another old tradition in Europe: the British pound. Our last word in business is: new currency.

LINDA WERTHEIMER, HOST:

The Bank of England will begin circulating plastic money in 2016, polymer versions of the paper bank notes Britons have used for more than three centuries.

GREENE: Bank officials say the currency should last longer and be harder to counterfeit.

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NPR Story
3:54 am
Wed December 18, 2013

Retail Workers Forced To Deal With Holiday Tunes

Originally published on Wed December 18, 2013 7:02 am

Morning Edition reports on retail workers who are subject to holiday music for hours on end.

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