Business & Education

Business
10:59 am
Fri August 2, 2013

U.S. Job Growth Slows A Bit As Wages Shrink

Employees and supporters demonstrate Monday outside of a Wendy's fast-food restaurant in New York City to demand higher pay and the right to form a union. Incomes have been stagnant, especially for minimum-wage workers.
Spencer Platt Getty Images

Originally published on Fri August 2, 2013 12:10 pm

Employers added 162,000 workers in July, and the U.S. unemployment rate slipped to 7.4 percent, the lowest level since December 2008, the Labor Department said Friday.

But while the number of jobs did increase, the hiring pace was slower than in the spring, marking a setback for unemployed Americans who had hoped for a better summer.

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Economy
10:24 am
Fri August 2, 2013

Jobs Have Been Added, But Why Are Wages Stubborn?

Originally published on Fri August 2, 2013 11:32 am

Transcript

MICHEL MARTIN, HOST:

This is TELL ME MORE from NPR News. I'm Michel Martin. Later today, we'll hear more about Pope Francis' recent visit to Brazil and we'll hear about why he made headlines around the world. That's in just a few minutes. But first, back here in this country, we want to hear about today's jobs numbers. One-hundred sixty-two thousand jobs were added last month, bringing the unemployment rate down to 7.4 percent. That's even below last month's report of 7.6 percent. The report also shows, though, that wages are going down for many workers.

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The Salt
10:11 am
Fri August 2, 2013

FDA Approves Gluten-Free Label

Originally published on Thu August 8, 2013 4:01 pm

The Food and Drug Administration issued Friday the first legally binding rules for what food companies can legally label "gluten-free."

The rules should help millions of Americans who can't tolerate gluten in their diet.

Gluten is a protein in wheat, barley and rye. Bakers appreciate its gluey texture for making bread. But when people with celiac disease eat it, it causes their immune systems to attack their small intestines.

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Parallels
9:11 am
Fri August 2, 2013

Is Uruguay's Marijuana Legalization Vote A Tipping Point?

Originally published on Wed October 9, 2013 3:00 pm

Within weeks, Uruguay is expected to become the first nation to legalize the production, distribution and use of marijuana for its citizens.

The South American country's response to incessant drug-related violence in the region signals a quest for alternatives to the U.S.-led war on drugs, and a rethinking of official U.N. anti-drug policy, which has been in effect for more than half a century.

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Business & Education
8:30 am
Fri August 2, 2013

Ala. Educators Addressing Disconnected Students

The state Department of Education is planning to unveil its new way to address barriers to learning and teaching and to re-engage disconnected students.

   Department officials will join other educators Friday in Montgomery to present the Comprehensive System of Learning Supports design documents.

   The director of the department's Office of Learning Support, Linda Felton-Smith, says the design moves student supports away from reacting to problems and moves them toward a system emphasizing prevention and early intervention.

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The Two-Way
7:38 am
Fri August 2, 2013

U.S. Unemployment Sinks To 7.4 Percent; 162,000 Jobs Added In July

America's unemployment rate sank to 7.4 percent in July, the Bureau of Labor Statistics says. A hiring sign is seen in a store window in Alexandria, Va.
Alex Wong Getty Images

Originally published on Fri August 2, 2013 10:11 am

America's unemployment rate sank to 7.4 percent in July, a drop of two-tenths of a percent, the Bureau of Labor Statistics says in its monthly summary of the U.S. economic situation. But employers added 162,000 jobs last month, coming in below economists' expectations.

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The Two-Way
6:23 am
Fri August 2, 2013

Book News: Battle Rages On In Amazon Vs. Overstock Price War

Originally published on Fri August 2, 2013 7:51 am

The daily lowdown on books, publishing, and the occasional author behaving badly.

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Business
5:50 am
Fri August 2, 2013

Bank Of America May Face Charges Related To Financial Crisis

Originally published on Fri August 2, 2013 10:08 am

Transcript

DAVID GREENE, HOST:

NPR's business news starts with new trouble for B of A.

(SOUNDBITE OF MUSIC)

GREENE: In a regulatory filing yesterday, Bank of America revealed it may be facing civil charges over its activities during the financial crisis. The bank disclosed an investigation by the Department of Justice related to residential mortgage-backed securities. Bank of America says it's cooperating. Transcript provided by NPR, Copyright NPR.

The Salt
2:18 am
Fri August 2, 2013

Massachusetts Revives The Lost Art Of Making Sea Salt

The Martha's Vineyard beach where Heidi Feldman collects saltwater to make sea salt.
Courtesy of Heidi Feldman

Originally published on Fri August 2, 2013 10:08 am

"Look for a house, barn, paddock, barking dogs and screeching peacocks."

Those were Heidi Feldman's instructions to me to find Down Island Farm in Vineyard Haven on Martha's Vineyard, Mass.

She forgot to mention the ram, free roaming chickens and miniature horse. But I managed to find it anyway.

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Planet Money
2:17 am
Fri August 2, 2013

4 Reasons Why Millions Of Americans Are Leaving The Workforce

NPR

Originally published on Fri August 2, 2013 10:08 am

The unemployment rate only includes people who don't have jobs and are looking for work. A much larger swath of people — about 36 percent of U.S. adults — don't have jobs and aren't looking for work at all. That figure is higher than it's been in decades (and, conversely, the share of adults in the labor force — shown in the graph above — is lower than it's been in decades).

Here are four reasons why so many people are leaving the labor force.

1. They're retiring.

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Law
3:54 pm
Thu August 1, 2013

Former Goldman Sachs Trader Found Liable For Fraud

Originally published on Thu August 1, 2013 4:48 pm

Transcript

AUDIE CORNISH, HOST:

You're listening to ALL THINGS CONSIDERED from NPR News.

In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.

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Business
3:54 pm
Thu August 1, 2013

Google Ups Its Game Against Apple With New Smartphone

The new Moto X launched Thursday in New York City.
Bryan Bedder Getty Images

Originally published on Fri August 2, 2013 10:40 am

When it was launched Thursday, the Moto X, Google's first smartphone product to come out of its buyout of Motorola, was not the highest powered or highest pixeled device. Rather, the designers boasted of its usability — that the Moto X has a larger purpose: making the technology of a phone adapt to the way people use them, rather than force user behavior to adapt to the technology.

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Business
3:54 pm
Thu August 1, 2013

Private Equity Fund Eyes The Business Of Pot

A cannabis leaf
Bolotov Paul iStockphoto.com

Originally published on Thu August 1, 2013 8:40 pm

A couple of guys with serious investment banking experience are moving into the marijuana business. They've launched the first multimillion-dollar private equity fund devoted entirely to what they like to call the "cannabis space."

It started when Brendan Kennedy was working at the Silicon Valley Bank and learned of an entrepreneur who wanted to sell software for marijuana dispensaries. The idea piqued Kennedy's interest. A few days later, a radio show about legalizing pot piqued it even more.

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Parallels
3:54 pm
Thu August 1, 2013

'Abenomics' Serving Up The Same Old Medicine In Japan?

Japanese Prime Minister Shinzo Abe's plans for reviving Japan's ailing economy are yielding mixed results so far.
Koji Sasahara AP

Originally published on Thu August 1, 2013 4:48 pm

Ever since Japan's stock market bubble burst in the early 1990s, the country's economy has been stuck in a deflationary spiral. Wages and prices kept going down — and so did consumer spending.

After all, would you buy something today if you knew it was going to be cheaper tomorrow?

But when he came to power last December, Japan's Prime Minister Shinzo Abe said he could fix the problem, after two "lost decades."

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The Two-Way
3:21 pm
Thu August 1, 2013

Former Goldman Trader Found Liable For Billion-Dollar Fraud

Former Goldman Sachs trader Fabrice Tourre walks to a federal court in Manhattan with his attorneys Thursday. A jury found Tourre liable in a massive securities fraud case.
Richard Drew AP

Originally published on Thu August 1, 2013 3:59 pm

A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.

Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.

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