In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.
NPR's business news starts with Home Depot raising the roof.
Home Depot got a boost from the housing recovery in its first-quarter net income. It rose 18 percent; that exceeds expectations. The company acknowledged yesterday that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.
Home Depot's stock price rose by 2.5 percent with the news. Transcript provided by NPR, Copyright NPR.
The wait is over for many Xbox fans. Yesterday, Microsoft unveiled its next generation Xbox gaming console. It's called Xbox One. It's the first major revamp of the gaming system since 2005. In our business bottom line, NPR's Laura Sydell reports the new Xbox is designed to be an all-in-one system, an entertainment hub for movies, TV and games that should appeal as much to grandparents as it does to children.
Finding a parking space, probably not at the top of the list of things you like to do. Well, experts in parking think they might be able to change that. One key, they say, is for developers to think about the parking experience when they're designing malls or apartment complexes, instead of just treating it as an afterthought.
This came up in Florida this week, at the International Parking Institute's annual conference. Reporter Kenny Malone, from member station WLRN, was there.
Here's some news for travelers. If you can't afford - or don't want to pay the price for - a hotel room, maybe you've used the cheap lodging site Airbnb. If so, you have to take New York City off your list. The popular website has suffered a major setback in court. A judge in New York ruled that an Airbnb user in Manhattan violated local laws when he rented a room to an out-of-towner.
Lawmakers are demanding to know what went wrong and who is to blame at the IRS. Two Senate committees held hearings yesterday on the agency's aggressive handling of applications from conservative groups who were seeking tax-exemption. A top IRS official facing a House committee, today, intends to invoke her Fifth Amendment right not to testify. NPR's Peter Overby reports.
Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.
Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.
If you have a savings account you probably already know this: Your money there is losing value to inflation. Yields are so low that returns are not even keeping up with the cost of living.
I've been watching some of my own savings dwindle. And that prompted me to take up a challenge: I'm taking $5,000 from personal savings and putting it to work. I'm not a financial whiz, pundit or any kind of guru.
Jamie Dimon, the chairman and CEO of JP Morgan Chase, has beaten back the most significant challenge to his leadership since he took charge. Company shareholders turned down a proposal that would have taken away one of his titles.
But as NPR's Jim Zarroli reports, shareholders made clear they are unhappy about the performance of some board members.
From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.
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The immigration bill that's working its way through the Senate gives the tech industry something it has long asked for: more visas for skilled workers from overseas. But the original bill also came with something the tech industry didn't like: rules to keep those foreign workers from taking the jobs of Americans. As NPR's Martin Kaste reports, key senators agreed to loosen those rules.
Now, the cash register re-imagined. Paying for things online with your mobile phone can be as easy as paying with cash but digital payment companies, like PayPal and Square, think the big money for them is still at the register. So they're rushing head-long into brick-and-mortar retail, eager for new ways to make old-fashioned money.
From member station WHYY, Zack Seward has the story.
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And I'm Melissa Block.
The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes. Yesterday, Senate investigators released a study describing how the maker of the iPhone, iPad and Mac computers used subsidiaries based in Ireland to avoid income taxes on a big chunk of its global profits.
Originally published on Thu November 14, 2013 9:51 am
Microsoft unveiled its new Xbox One Tuesday, displaying a device that takes new steps in game consoles' journey to becoming all-purpose entertainment and communication devices. The new console replaces the Xbox 360, which has been on the market for nearly eight years.