For Darden Restaurants, the company behind Olive Garden and Red Lobster, its earnings projections out last week were not pretty. Sales will fall, it said, and company CEO Clarence Otis called higher payroll taxes a "headwind."
After a two-year tax break, the payroll tax, which funds Social Security payments, went back up to 6.2 percent on Jan. 1. The 2-percentage-point increase is an extra $80 a month in taxes for someone earning $50,000 a year.
The long-awaited BP trial opened Monday in New Orleans. The oil giant is in court to determine how much it should pay because of the massive 2010 Gulf of Mexico oil spill. Audie Cornish talks to Jeff Brady.
If Congress fails to make a deal on government spending and taxation before Friday, federal cuts of more than 85 billion dollars will be enacted. NPR White House correspondent Scott Horsley discusses the politics of a potential deal and the options for avoiding sequestration.
Now, the Opinion Page. It's a no-brainer, that's how secretary - former Secretary of Labor Robert Reich described President Obama's recent proposal to raise the federal minimum wage. The plan would boost minimum pay from 7.25 an hour to $9. In a syndicated column, Reich wrote, a mere $9 an hour translates into about $18,000 a year, still under the poverty line.
In its bid to reshape itself for the future, Yahoo is returning to a workplace culture of the tech industry's past. The Internet giant has reportedly notified its employees they'll no longer be allowed to work from home.
Originally published on Mon February 25, 2013 10:36 am
Bad news for those whose shopping trips at Ikea are partly motivated by the allure of the store's famous meatballs: The giant Swedish furniture retailer on Monday said it had recalled a batch of frozen meatballs sent to more than a dozen European countries after tests detected traces of horse meat.
Food inspectors in the Czech Republic discovered the horse meat DNA last week in 2.2-pound packs of frozen meatballs labeled as beef and pork and sold under the name Kottbullar.
European budget problems prompted governments to cut back on investments in digital services and broadband networks. Industry officials say this damages Europe's ability to compete.
Terri Schultz reports from Brussels.
TERRI SCHULTZ, BYLINE: The European Union's own officials acknowledge there's a serious disconnect between what Europe is doing and what it needs to do to stop falling behind in the telecommunications industry.
Bad weather can mean big losses for homeowners and insurance companies. So recently, the insurance industry built a laboratory in rural Richburg, South Carolina in hopes of developing more weather-resistant buildings. The latest experiment was a giant, indoor hailstorm.
Julie Rose of member station WFAE takes us inside.
JULIE ROSE, BYLINE: Tanya Brown has had a single obsession these past two years...
TANYA BROWN: I'm a research engineer and the lead engineer on this project.
NPR's business news starts with a new economic forecast.
(SOUNDBITE OF MUSIC)
INSKEEP: The latest survey of economic forecasters by the National Association of Business Economics predicts 2 percent growth this year. That is down from last year's 2.2 percent. The current budget battle in Congress is partly blamed for slowing the economy now.
The survey goes on to say that next year could be better if budget issues are resolved by then. Transcript provided by NPR, Copyright NPR.
And today's last word in business is: pirates beware.
If you download copyrighted material illegally, you might get a warning from your Internet service provider starting as soon as today. That's according to blogs covering file-sharing communities like Bit Torrent, where users share and download movies and music for free. Big copyright holders like the Motion Picture Association of America, have been working with Internet providers on ways to punish online pirates, although we do not yet know what the punishment might be.
The state attorney general's office used a century-old gambling case to get a rare, but not unprecedented, search warrant to raid VictoryLand casino in Shorter.
Macon County Circuit Judge Tom Young initially refused to give the attorney general a search warrant. Attorney General Luther Strange appealed to the Alabama Supreme Court. He cited an 1899 case where a justice of the peace denied an arrest warrant based on an incorrect interpretation of the law, and the Supreme Court ordered it issued.
A judge in Huntsville has scheduled a trial for March 2014 in two lawsuits against former university professor Amy Bishop.
The two suits were filed by victims of a 2010 shooting spree at the University of Alabama in Huntsville. Bishop pleaded guilty to capital murder and got a life sentence in her criminal case.
She wanted fact finding in the civil case to stop while she appeals her capital murder case. Madison County Circuit Judge Billy Bell ruled Friday that he wouldn't delay discovery in the civil case, and he scheduled it for trial on March 10, 2014.