Business & Education

Business
3:33 am
Fri November 22, 2013

Because Of Noise, Bar To Raise Drinking Age To 25

Originally published on Fri November 22, 2013 6:28 am

Phil's Crummy Corner, a bar in Brooklyn, announced it is raising its drinking age to 25. The restaurant manager told local news site DNA Info that the age limit will only be in place on weekend nights. It's an attempt to keep out loud and rowdy late night crowds.

Business
3:33 am
Fri November 22, 2013

As Inequality Grows, Swiss To Vote On Curbing Executive Pay

Members of the Swiss trade union Unia, supporting a referendum to limit the pay of executives to 12 times that of a company's lowest-paid employee, demonstrate in Zurich in August.
Arnd Wiegmann Reuters/Landov

Originally published on Fri November 22, 2013 11:12 am

Switzerland may be known for watches, wealth and secretive bank accounts, but increasingly people believe that not everyone is reaping their share of the country's economic well-being.

So on Sunday, the Swiss will vote on a referendum that would limit a CEO's pay to 12 times that of the company's lowest-paid worker.

The youth wing of the Social Democratic Party collected the 100,000 signatures necessary to turn the measure, known as the 1:12 initiative, into a national referendum.

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Business
3:33 am
Fri November 22, 2013

Federal Regulators Crack Down On Payday Advances

Originally published on Fri November 22, 2013 4:45 am

Consumer advocates are hailing a decision by federal regulators to crack down on so called deposit advances — a type of payday loan offered by some banks. Going forward, banks will not be allowed to let their customers take deposit advances more than once a month, or take them in consecutive months.

Planet Money
2:00 am
Fri November 22, 2013

A Bitcoin Insider On Crime, Congress And Satoshi Nakamoto

This is not a bitcoin.
eagleapex's posterous Flickr

Originally published on Fri November 22, 2013 10:48 am

For more on what Bitcoin is and how it works, see our story "What Is Bitcoin?"

Gavin Andresen is chief scientist at the Bitcoin Foundation. I first talked with him about Bitcoin, the virtual currency, back in 2011. I checked back in with him this week, because so much has been going on with Bitcoin lately.

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The Two-Way
5:15 pm
Thu November 21, 2013

Prepare For Cabin Noise: FCC May End Ban On Phones During Flights

The new head of the Federal Communications Commission proposes allowing airline passengers to make phone calls during flights. Here, a passenger looks at her cellphone before a flight last month.
Matt Slocum AP

Originally published on Thu November 21, 2013 7:59 pm

The Federal Communications Commission is proposing a change to allow travelers to make phone calls as they fly on jetliners in the U.S. The agency's new chairman, Tom Wheeler, calls the current ban on the use of cellphones during flights "outdated and restrictive."

Here's a statement from Wheeler that was released Thursday:

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The Two-Way
4:17 pm
Thu November 21, 2013

Dow Jones Index Closes Above 16,000 For First Time

For the first time in its history, the Dow Jones industrial average closed above 16,000 points Thursday. The index of 30 stocks touched the mark earlier this week, when a trader was photographed at the New York Stock Exchange.
Andrew Burton Getty Images

Originally published on Thu November 21, 2013 4:42 pm

The Dow Jones industrial average tacked on 109 points Thursday for a gain of less than 1 percent. But the small rise brought a big milestone, as the industrial index closed above 16,000 for the first time in its history. The index had touched the mark earlier this week but fell short by the day's end.

Today, the Dow closed at 16,009.99.

The historic moment for the benchmark index that tracks 30 leading U.S. companies came on a day that began with positive economic news.

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The Two-Way
10:55 am
Thu November 21, 2013

Yellen's Nomination To Fed Gets OK From Senate Committee

Janet Yellen during her confirmation hearing earlier this month. She's expected to win Senate approval to take over as head of the Federal Reserve.
Brendan Smialowski AFP/Getty Images

By a 14-8 vote that saw three Republicans join 11 Democrats in saying "aye," the Senate Banking Committee on Thursday morning approved the nomination of Janet Yellen to be the next head of the Federal Reserve.

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Parallels
8:50 am
Thu November 21, 2013

Saudi Arabia's Global Arms Shopping Spree

A Leopard 2 A6 tank is in operation during the German army exercise in Bergen, Germany, on Oct. 2. Germany said it would sell 270 of the tanks to Saudi Arabia last year. According to official figures, the Saudis were the top buyers of arms from Germany.
Peter Steffen DPA /LANDOV

Originally published on Thu November 21, 2013 3:04 pm

Saudi Arabia has emerged as the biggest foreign customer for German arms, buying nearly a quarter of Germany's total weapons sales.

It's part of an emerging pattern of weapons purchases by Saudi Arabia and its neighbor, the United Arab Emirates.

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The Two-Way
7:59 am
Thu November 21, 2013

Jobless Claims And Wholesale Prices Drop

Part of the scene at a job fair for veterans and family members earlier this month in Marietta, Ga.
David Goldman AP

Originally published on Thu November 21, 2013 10:47 am

While it's always important to keep in mind that neither one week nor one month make for a trend, there is good economic news to pass along:

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Business
5:37 am
Thu November 21, 2013

Obama, State Insurance Commissioners Talk Policy Extensions

Originally published on Thu November 21, 2013 5:55 am

President Obama met with state insurance commissioners to discuss changes to the implementation of the Affordable Care Act. Some commissioners are in a difficult spot because their states passed laws that prohibit policies that don't comply with the law. Now, the president says companies can keep offering non-compliant policies for another year if they want to.

Business
4:53 am
Thu November 21, 2013

Oil Industry And Others Cheer EPA's Ethanol Proposal

Originally published on Thu November 21, 2013 5:55 am

The EPA's decision not to force oil companies to replace E10, gasoline mixed with 10 percent ethanol, with E15, had a big impact on a lot of businesses. For manufacturers of motorcycles, motor boats and outdoor power equipment, it was good news. But for gas station owners who invested in expensive blender pumps, the decision hurt.

Economy
4:47 am
Thu November 21, 2013

2014 Greece Budget To Contain No Austerity Measures

Originally published on Thu November 21, 2013 5:55 am

Transcript

RENEE MONTAGNE, HOST:

The Greek parliament is considering a new budget today, and it does not include the wage cuts and tax hikes requested by the European Union and the International Monetary Fund.

Those institutions loaned Greece billions in bailout and are demanding more austerity. But Greeks say they've suffered enough economic pain and warned that more could provoke unrest.

Joanna Kakissis reports from Athens.

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Education
4:04 am
Thu November 21, 2013

Kids Pay The Price In Fight Over Fixing Philadelphia Schools

Third-grader Kassim West last July at Walter G. Smith Elementary School, one of more than 20 Philadelphia public schools that closed at the end of the school year.
Matt Stanley for NPR

Originally published on Fri November 22, 2013 7:58 am

This is the first in a three-part report on Philadelphia schools in crisis.

Sharron Snyder and Othella Stanback, both seniors at Philadelphia's Benjamin Franklin High, will be the first in their families to graduate from high school. This, their final year, was supposed to be memorable. Instead, these teenagers say they feel cheated.

"We're fed up with the budget cuts and everything. Like, this year, my school is like really overcrowded. We don't even have lockers because it's, like, too many students," Sharron says.

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Business
4:04 am
Thu November 21, 2013

Tribune Media Company To Lay Off 700 Employees

Originally published on Thu November 21, 2013 9:10 am

The company owns seven daily newspapers including the Chicago Tribune and the Los Angeles Times. The company says the cuts will mostly affect the publishing side of the business — not editorial staff. The company says it's part of an ongoing effort to consolidate its business.

NPR Story
4:04 am
Thu November 21, 2013

Medicare Project May Provide Better Care Less Expensively

Originally published on Thu November 21, 2013 5:55 am

Fort Dodge, Iowa, is not exactly what you'd think of as a hotbed of health care innovation. But the small town in the western part of the state is part of a Medicare pilot project that economists say could be a pathway to the holy grail of health care: providing better care at a lower cost.

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