Business & Education

All Tech Considered
11:46 am
Fri September 20, 2013

Tech Week That Was: New iOS Design And Grand Theft Auto

Grand Theft Auto V raked in more than $800 million in sales in its first 24 hours on the shelves.
Mario Tama Getty Images

Originally published on Fri September 20, 2013 12:47 pm

It's time for the weekly roundup of what happened here on All Tech and on our airwaves, and a look back at the big conversations in technology.

ICYMI

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The Two-Way
9:24 am
Fri September 20, 2013

Joy Covey, Who Was Key To Amazon.com's Success, Dies

"Joy Covey, who helped take Amazon.com Inc. public as the Internet retailer's chief financial officer, died Wednesday when her bicycle collided with a van on a downhill stretch of road in San Mateo County," the Los Angeles Times writes.

She was 50.

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Business
3:47 am
Fri September 20, 2013

Nation's Largest Mortgage Provider Downsizes

Originally published on Fri September 20, 2013 5:47 am

Wells Fargo has told 1,800 employees their services will no longer be needed in the bank's mortgage unit. The bank already cut more than 2,000 jobs in that unit last month. Wells Fargo cites lower demand for refinancing because of higher mortgage rates.

Business
3:40 am
Fri September 20, 2013

Why Companies And CEOs Rarely Admit To Wrongdoing

Originally published on Fri September 20, 2013 10:56 am

Transcript

RENEE MONTAGNE, HOST:

JPMorgan Chase will have to pay more than $900 million in fines for the way it handled the London Whale trading scandal. Last year, the company revealed that its traders in London had lost $6 billion, and then concealed the losses from executives.

While large fines aren't unusual, it is unusual that federal regulators forced the bank to admit to wrongdoing. But this is exactly what happened. NPR's Sonari Glinton has more.

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All Tech Considered
3:40 am
Fri September 20, 2013

Female Fans Love New Grand Theft Auto Despite Demeaning Content

A close view of the packaging of Grand Theft Auto V at the midnight opening at the HMV music store in London on Tuesday. It made history with a record $800 million in sales on its first day. This version continues to generate controversy over its glorification of violence, drugs and its demeaning portraits of women.
Leon Neal AFP/Getty Images

Originally published on Fri September 20, 2013 1:02 pm

Grand Theft Auto made video game history this week: The latest version of the game had a record $800 million in sales on its first day. As with past versions, the game is generating controversy over its glorification of violence and drugs and its demeaning portrayal of women.

But around 15 percent of its fans are women, who find much to like about the game, even if they do have some ambivalence about it.

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NPR Story
3:40 am
Fri September 20, 2013

Hiroshi Yamauchi Dies At 85, Expanded Nintendo

Originally published on Fri September 20, 2013 5:58 am

In 1949, Hiroshi Yamauchi left school to take over Nintendo after his grandfather died. He made it a dominate force in the game industry. He retired as president in 2002. He died on Thursday in Japan.

Planet Money
2:31 am
Fri September 20, 2013

Cashing In On The Fantasy-Sports Economy

Lots of fantasy managers are taking out insurance on Adrian Peterson this year.
Charles Rex Arbogast AP

Originally published on Tue September 24, 2013 3:04 pm

There's big money in fantasy sports. Last year, alone, people paid $1.7 billion to play in fantasy leagues. With all that money sloshing around, a fantasy economy has sprung up, giving rise to real businesses. Here are four of them.

The Insurance Company

Henry Olszewski founded Fantasy Sports Insurance in 2008 — the year the financial system nearly collapsed. And, more importantly, the year New England Patriots quarterback Tom Brady suffered a serious hit to the knee.

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It's All Politics
2:28 am
Fri September 20, 2013

House Nears Vote To Fund Government, Defund Obamacare

House Speaker John Boehner, R-Ohio, talks about the deadline to fund the government Thursday on Capitol Hill.
J. Scott Applewhite AP

Originally published on Fri September 20, 2013 10:18 am

The Republican-controlled House is set to vote Friday on a stopgap spending bill to keep the government open for business through the middle of December. And the White House has already said if it makes it to the president's desk, he'll veto it. That's because the bill also would defund the Affordable Care Act.

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Environment
11:08 pm
Thu September 19, 2013

EPA Wants To Limit Greenhouse Gases From New Coal Power Plants

Mississippi Power's Kemper County energy facility near DeKalb, Miss., seen under construction last year. Carbon dioxide will be captured from this plant and used to stimulate production of oil from existing wells.
Rogelio V. Solis AP

Originally published on Fri September 20, 2013 7:11 pm

The Environmental Protection Agency's second stab at a proposal to set the first-ever limits on greenhouse gas emissions from new power plants would make it impossible for companies to build the kind of coal-fired plants that have been the country's biggest source of electricity for decades.

Under the proposal, released Friday, any new plant that runs on coal would be permitted to emit only about half as much carbon dioxide as an average coal plant puts into the air today.

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The Salt
3:25 pm
Thu September 19, 2013

Making Food From Flies (It's Not That Icky)

Black soldier flies mate and lay eggs inside these cages at EnviroFlight.
Dan Charles NPR

Originally published on Thu September 19, 2013 8:14 pm

In the quirky little college town of Yellow Springs, Ohio, home to many unconventional ideas over the years, there's now a small insect factory.

It's an unassuming operation, a generic boxy building in a small industrial park. It took me a while even to find a sign with the company's name: EnviroFlight. But its goal is grand: The people at EnviroFlight are hoping that their insects will help our planet grow more food while conserving land and water.

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Middle East
3:25 pm
Thu September 19, 2013

Turkey's Lira Falls To Its Lowest Value In Years

Originally published on Thu September 19, 2013 6:07 pm

Potential changes in economic policy from Washington have sent tremors throughout emerging economies. In Turkey, where growth in recent years has put Eurozone economies to shame, the signs are troubling: The Turkish lira has fallen to its lowest value in years and private sector debt is soaring. Economists say continued liquidity and foreign investment remains crucial if Turkey is to avoid a hard landing.

Business
3:25 pm
Thu September 19, 2013

JPMorgan Chase To Pay Huge Fine In London Whale Settlement

Originally published on Thu September 19, 2013 6:07 pm

Transcript

AUDIE CORNISH, HOST:

JPMorgan Chase has agreed to pay a $920 million fine. It comes in response to the bank's handling of the so-called London Whale trading debacle. Last year, J.P. Morgan said that rogue traders in its London office had lost $6 billion in a failed hedging strategy, and then concealed it from executives for weeks.

In addition to the fine, regulators forced the bank to take the unusual step of admitting wrongdoing, as NPR's Jim Zarroli reports.

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Economy
11:08 am
Thu September 19, 2013

War On Poverty Still Worth Fighting?

Originally published on Thu September 19, 2013 2:15 pm

Transcript

MICHEL MARTIN, HOST:

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The Two-Way
8:43 am
Thu September 19, 2013

Whale Of A Fine: JPMorgan Chase To Pay $920M In Penalties

The JPMorgan Chase building in London, where traders ran up huge losses.
Timur Emek AP

Originally published on Thu September 19, 2013 10:39 am

JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.

As we wrote earlier this week when word of the pending settlement first emerged, this all:

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UA Sorority Racism
8:16 am
Thu September 19, 2013

Former UA Student Leaders Back Greek Integration

Pi Beta Phi is one of three sororities officials are investgating after alleged discrimination against two African-American girls during the recruitment process.
Cary Norton for The New York Times

Former student leaders at the University of Alabama are supporting more diversity within the school's racially segregated sorority and fraternity system.

   Kenneth Mullinax says he and 17 other former campus leaders pooled $1,000 to purchase a newspaper ad supporting integration of both white and black Greek-letter groups.

   Mullinax says the advertisement is scheduled to appear in the student newspaper Thursday.

   Sponsors of the ad include former Alabama Attorney General Bill Baxley and Rob Riley, son of former Gov. Bob Riley.

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