Business & Education

The Two-Way
10:24 am
Wed August 7, 2013

Freddie Mac Earns $5 Billion In 3 Months; To Pay U.S. $4.4 Billion

Originally published on Wed August 7, 2013 10:54 am

Freddie Mac racked up a $5 billion profit in the second quarter, the mortgage backer said in its quarterly report Wednesday. The earnings are the second-highest in the history of Freddie Mac, which has now extended its streak of profitable quarters to seven in a row.

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Business & Education
8:18 am
Wed August 7, 2013

Ala School Supt Defends 'Prayer Caravan'

Cullman County Schools Superintendent said the prayer caravan set for Aug. 10 will go on.
Greg Garrison

Cullman County's school superintendent says he's not afraid of opposition to a religious event he is sponsoring at county schools.

   Billy Coleman held a news conference Tuesday to discuss the controversy over a "prayer caravan" that's planned at county schools on Aug. 10. Christians will gather on campuses to pray for the school year.

   Coleman is a Christian evangelist, and he says he's organizing the event at schools as a private citizen, not as the county superintendent. He says he even took a day off from work to discuss the caravan.

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All Tech Considered
4:48 am
Wed August 7, 2013

Amazon Enters Art World; Galleries Say They Aren't Worried

Amazon said its new art marketplace will provide access to more than 40,000 works of art from at least 150 galleries and dealers.
Amazon.com

Originally published on Wed August 7, 2013 10:35 am

Local record and book shops have been disappearing as the market for music and literature moves online. In the past few years, there's been a growth in sites that sell fine art on the Internet. On Tuesday, Amazon joined that market. But in this case, many brick and mortar galleries aren't seeing the Internet as a threat.

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Media
4:24 am
Wed August 7, 2013

Boston Hopes Red Sox Owner Can Turn Around 'Globe'

Originally published on Wed August 7, 2013 5:52 am

In Boston, a billionaire entrepreneur is buying the Boston Globe. John Henry is currently the owner of the Red Sox baseball team. He says he isn't interest in trying to influence the news — including the baseball coverage.

Business
4:24 am
Wed August 7, 2013

Virgin America Announces Earnings Win

Originally published on Wed August 7, 2013 6:42 am

The company has been hit by a lot of losses since it was founded in 2007. But for the second quarter of this year, it says it earned nearly $9 million. Virgin America seems to be reaping the benefits of falling fuel prices and an increase in people traveling.

Business
4:24 am
Wed August 7, 2013

Cardboard Cutout Is An Effective Police Officer

Originally published on Wed August 7, 2013 6:46 am

At a subway and bus station in Cambridge, Mass., transit police planted the cutout to watch over the bike racks. Bike thefts are down 67 percent.

Business
4:24 am
Wed August 7, 2013

DOJ Files Civil Charges Against Bank Of America

Originally published on Wed August 7, 2013 5:01 am

Transcript

RENEE MONTAGNE, HOST:

The Justice Department is bringing civil charges against one of the nation's largest banks. The government alleges that Bank of America made false statements about the quality of home loans it sold off to investors, $850 million worth of loads. The Justice Department move is the latest in a series of cases being brought against financial firms.

NPR's Chris Arnold has been following all of this and joins us now. Good morning.

CHRIS ARNOLD, BYLINE: Good morning, Renee.

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Business
4:12 am
Wed August 7, 2013

Want To Be A Chicken Farmer? Try It Before You Commit

Originally published on Wed August 7, 2013 4:24 am

The idea of raising backyard chickens has become very popular. But people who follow through on the idea don't always know what they are getting into. So a few companies are letting would-be chicken farmers try out the experience — for a fee.

Business
4:12 am
Wed August 7, 2013

Tensions Flare Over Rock Of Gibraltar

Originally published on Wed August 7, 2013 4:24 am

Once again, Spain and Britain are at odds over a tiny limestone peninsula at Europe's southern tip — Gibraltar. It's physically attached to Spain but has been a British territory for 300 years. Now some Spaniards want it back.

Politics
4:12 am
Wed August 7, 2013

Obama Focuses On Making Home Ownership More Accessible

Originally published on Wed August 7, 2013 4:24 am

President Obama is in California, where he'll visit Marines at Camp Pendleton. On Tuesday, he spoke about housing in Phoenix. Among other items, he talked about winding down Fannie Mae and Freddie Mac, the companies that guarantee most long-term fixed-rate mortgages in the U.S.

Business
4:12 am
Wed August 7, 2013

Bezos' Resources Could Go A Long Way For 'The Post'

Originally published on Wed August 7, 2013 8:41 am

News that Jeff Bezos, the founder and CEO of Amazon, is buying The Washington Post for $250 million took many in the news media and publishing industries by surprise. For more insight into Bezos, David Greene talks to BusinessWeek senior writer Brad Stone. He is the author of an upcoming book: The Everything Store: Jeff Bezos and the Age of Amazon.

All Tech Considered
3:21 am
Wed August 7, 2013

As Twitter Expands Reach, Abuse Policy Gets Added Scrutiny

This week, several women in the U.K. went public about explicit abuse they received on Twitter.
Alastair Grant AP

Originally published on Wed August 7, 2013 11:26 am

A series of threats and abusive messages aimed at prominent women in the U.K. have placed Twitter in an awkward spot. As the company gears up to go public and expand its brand around the world, it is increasingly running into cultural and legal hurdles that challenge Twitter's free speech ethos.

Earlier this year, Caroline Criado-Perez led a successful campaign to keep non-royal British women on the country's currency. Then last week, because of that work, the 29-year-old activist and blogger became the target of an organized barrage of hateful messages on Twitter.

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Law
6:25 pm
Tue August 6, 2013

DOJ Sues Bank Of America Over Mortgage-Backed Securities

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block. The Justice Department is bringing civil charges against one of the nation's largest banks. The government alleges Bank of America made false statements about the quality of $850 million worth of home loans. Those loans were then sold to investors. NPR's Chris Arnold reports.

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Business
5:26 pm
Tue August 6, 2013

With An Industry In Turmoil, Why Buy A Newspaper Company?

The Washington Post is now in its seventh straight year of declining revenues, says the paper's chairman, Donald Graham. Rather than continue to watch the paper struggle, Graham and Publisher Katharine Weymouth decided to look for a buyer.
Jonathan Ernst Reuters /Landov

Originally published on Tue August 6, 2013 7:20 pm

Donald Graham, chairman of The Washington Post Co., is the son and grandson of its leaders for the past 80 years. And along with his niece, publisher Katharine Weymouth, Graham admitted in a video on The Post's website that the family simply didn't have the answers to questions about the paper's future.

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Private School Tax Credits
4:47 pm
Tue August 6, 2013

36 Ala. Private Schools Sign Up For Tax Credit Law

36 private schools have now signed up to participate in Alabama's new private school tax credit program with less than two weeks to go before most schools start classes.
Credit istockphoto

So far, 36 private schools have signed up to participate in Alabama's new private school tax credit program with less than two weeks to go before most schools start classes.

The state Revenue Department says the 36 schools range from Pope John Paul II Catholic High School in Huntsville to McGill-Toolen Catholic High School in Mobile.

Alabama's new Accountability Act provides state tax credits to parents who move their children from failing public schools to participating private schools.

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