And we're also reporting on the aftermath of another tragedy. Four months after the shootings at Sandy Hook Elementary School, residents in Newtown, Connecticut are still trying to move forward. And the same goes for business owners, especially in Sandy Hook Village, just a mile from the school.
NPR's business news begins with some sky-high prices.
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GREENE: If you travel, you might have noticed airfares are going up sharply in many markets - and the reason is mergers. This could be just the beginning. Prices may keep rising if government regulators approve another merger between American Airlines and U.S. Airways.
To talk more about this, we reached Scott McCartney. He writes an airline's column for "The Wall Street Journal."
Two prominent Harvard economists have admitted there are errors in an influential paper they wrote on government debt. This paper was widely cited in recent budget debates. But the economists insist their mistakes do not significantly change their research.
NPR's Jim Zarroli reports.
JIM ZARROLI, BYLINE: In their 2010 paper, Ken Rogoff and Carmen Rinehart argued that economic growth falls significantly when a country's debt level rises above 90 percent of its Gross Domestic Product or GDP.
All right. In recent days, the government has begun sending out checks to about 4 million people whose homes fell into foreclosure during the housing crisis. This is part of a multibillion dollar agreement with banks accused of making serious errors in processing those foreclosures.
STEVE INSKEEP, HOST:
Most of these checks are not so big. They average several hundred dollars. But still a check, an effort to make amends, so this is a bit of a problem. When some of the home owners try to cash their checks, the checks bounced.
Originally published on Wed April 17, 2013 10:53 am
American Airlines has promised passengers that Wednesday's flight schedule will be nothing like the day before, when thousands were stranded due to a glitch in the reservations system that forced hundreds of flights to be canceled or delayed.
American Airlines and American Eagle scuttled 970 flights and delayed more than 1,000 others Tuesday, The Associated Press said, citing flight-tracking service FlightAware.com.
NPR's business news begins with fresh but not easy.
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GREENE: Britain's largest retailer is taking a big loss as it announces it will shut down its West Coast grocery store chain Fresh & Easy. Tesco launched the chain in 2007 with nearly 200 stores throughout California, Nevada and Arizona.
And today's last word in business is: out of this world - which is where the Dutch airline KLM will send two lucky customers at the start of next year -space, the final frontier.
DAVID GREENE, HOST:
OK. To win the space journey, contestants have to correctly guess how far up a high-altitude balloon can make it before popping. Piece of cake - I know that's what you're thinking, right? Guesses submitted on KLM's website will be tested on April 22nd, when the company releases a balloon in the Nevada desert.
Google Glass is no longer merely a prototype. The company began delivering its high-tech glasses to a select group of test customers Tuesday.
The gadget looks kind of like a pair of eyeglasses, except it doesn't always have lenses and it has a tiny screen, about the size of the end of my pinkie, perched just above and to the right of the wearer's right eye.
Well, yesterday was not a day that you wanted to be traveling on American Airlines. The carrier cancelled all of its main routes for several hours, and also many of its commuter flights, as well. Almost 2,000 flights were infected in all. American blames computer networking problems.
A computer glitch in the reservations system at American Airlines caused all of the carrier's flights to be grounded for at least two hours on Tuesday.
"American's reservation and booking tool, Sabre is offline," American Airlines spokeswoman Mary Frances Fagan told Reuters in an email. "We're working to resolve the issue as quickly as we can. We apologize to our customers for any inconvenience."
NPR's Wade Goodwyn reports that the outage was announced about 2:30 p.m. Eastern time.
Originally published on Wed April 17, 2013 4:35 pm
Hospitals can make much more money when surgery goes wrong than in cases that go without a hitch.
And that presents a problem for patients. The financial incentives don't favor better care.
"The magnitude of the numbers was eye-popping," says Atul Gawande, a professor of surgery at Harvard Medical School, and an author of the study, which was just published in JAMA, the Journal of the American Medical Association. "It was much larger than we expected."
Originally published on Tue April 16, 2013 11:30 am
The International Monetary Fund has lowered its projections for global economic growth, including in the United States, citing sharp cuts in government spending and the struggling eurozone.
The Washington, D.C.-based international lender's World Economic Outlook shaved its 2013 forecast to 3.3 percent from 3.5 percent. It also trimmed its projection for 2014 to 4 percent from 4.1 percent.
As The Associated Press notes, the pace of construction — 1.04 million starts, at an annual rate — is the fastest in nearly five years and is another sign that the housing sector continues to recover from its 2007-08 crash.