One week after the S&P/Case-Shiller indices showed a 10.9 percent jump in U.S. home prices from March 2012 to March 2013 — the biggest year-over-year gain in that data since April 2006 — there's another report showing a similar jump in April.
NPR's business news starts with GM's continued revival.
Four years after being kicked out of the Standard & Poor's 500, General Motors returns to the index this week. The Detroit automaker will rejoin both the S&P 100 and 500 indices this Thursday after the stock market closes. GM replaces H.J. Heinz, which will no longer be a publicly traded company.
And today's last word in business is back in black.
The news-making black yoga pants by the label Lululemon are back on store shelves and online. The sportswear company was forced to recall the pants two months ago because they were too sheer.
LINDA WERTHEIMER, HOST:
Lululemon blamed the see-through blunder on a style change and production problems. The retailer hired a new team to make the pants more opaque. The company said the fabric of the new pants has been put through an exhaustive range of tests.
Things are not going do well for the online game maker Zynga. The once high-flying gaming company has been struggling and now plans to lay off almost 20 percent of its staff; that's more than 500 employees.
Lawyers for Apple will be back in court today, defending the company against government charges that it conspired with publishers to fix eBook prices. All the major publishing houses settled months ago with the Justice Department.
But as NPR's Laura Sydell reports, Apple's lawyer told the court the company won't settle because it did nothing wrong.
Now, in today's ALL TECH CONSIDERED, Apple on trial. The company is in federal court today fighting government charges that it colluded with book publishers to drive up the price of electronic books.
AUDIE CORNISH, HOST:
The Justice Department claims publishers used the introduction of the iPad as an opportunity to set higher prices. Five publishers have already settled civil charges with the government, but Apple has not. Laura Sydell is in New York, covering the first day of the trial. Hi there, Laura.
The federal probe of a hugely successful hedge fund may have investors ready to pull out much of their money. SAC Capital is under investigation for insider trading. Several published reports indicate outside investors are worried about that investigation and whether it will touch Steven Cohen, the firm's founder.
Like all great traditional Boston foods — the Boston Cream Pie, Boston Baked Beans, the Chicago Pizza at the Pizzeria Uno near Fenway — the Glazed Donut Breakfast Sandwich is about to go national. Someday, Bostonians will talk about how they heard it play when it was just a cool, local sandwich.
Ian: I never realized how pointless bagels were before.
Miles: I like a breakfast that forces me to take a nap right after waking up.
The U.S. economy started showing signs of recovery in June 2009, according to the National Bureau of Economic Research. Four years later, the economy is slow to recover in some areas. The stock market and housing are showing signs of growth, while unemployment still lags behind.
The nation's largest retailer announced Monday that it will be delivering produce from farms to stores faster by buying fruits and vegetables directly from growers.
The plan is to source about 80 percent of fresh produce directly, explained Jack Sinclair, executive vice president of the food business for Wal-Mart U.S., during a conference call that we participated in Monday morning.
In many instances, Sinclair says it will be possible to "cut out the middleman," but he added that local wholesalers will continue to "play an important role for us in the areas we serve."
Hearing that Federal Reserve Chairman Ben Bernanke offered Princeton graduates "10 suggestions" at their commencement ceremony Sunday, we had visions of those in caps and gowns nodding off during a treatise on the fine points of investing in municipal bonds.
Originally published on Tue June 25, 2013 12:07 pm
After capturing the imagination of people around the world last year with video of a bicycle made almost entirely out of cardboard, Israeli inventor Izhar Gafni is now hoping to capture money from folks who would like to own one.
It's been three months since the start of across-the-board, federal spending cuts. Renee Montagne talks to David Wessel, economics editor at The Wall Street Journal, about how badly the sequestration is cutting into the economy.