Business & Education

The Two-Way
1:19 pm
Wed July 17, 2013

Economy's Growing At 'Modest To Moderate Pace,' Fed Says

Part I of the news from the Federal Reserve on Wednesday was Chairman Ben Bernanke's signal to the financial markets that the central bank won't be shifting away from its "easy money" policy just yet.

Part II was just released. In its latest "Beige Book" review of economic conditions around the nation the Fed says that:

Read more
The Salt
12:25 pm
Wed July 17, 2013

Your Love Of Quinoa Is Good News For Andean Farmers

Farmer Geronimo Blanco shows his quinoa plants in Patamanta, Bolivia, in February. A burgeoning global demand for quinoa has led to a threefold price increase since 2006.
Juan Karita AP

Originally published on Wed July 17, 2013 5:15 pm

Quinoa lovers have been put on a bit of a guilt trip with stories suggesting that the increased demand in the U.S. has put the superfood out of reach for those living closest to where it's grown.

How can poor Bolivians in La Paz afford to pay three times more for quinoa than they would pay for rice, critics have asked?

Read more
The Two-Way
11:45 am
Wed July 17, 2013

Asiana Decides Not To Sue San Francisco TV Station

Passengers move away from the wreckage of Asiana Airlines Flight 214 after the plane's July 6 crash-landing in San Francisco. This photo was taken by a passenger.
Eugene Anthony Rah Reuters/Landov

Originally published on Thu July 25, 2013 11:34 am

Asiana Airlines has decided not sue the Oakland television station that aired the bogus names of the flight crew piloting Flight 214, a Boeing 777 that crash-landed at San Francisco International Airport earlier this month.

Read more
The Two-Way
8:15 am
Wed July 17, 2013

Bernanke: Fed's Monetary Policies Not On 'A Preset Course'

Federal Reserve Board Chairman Ben Bernanke speaks during a news conference at the Federal Reserve in Washington, D.C., last month.
Alex Wong Getty Images

Originally published on Wed July 17, 2013 11:22 am

In testimony before the House Committee on Financial Services, Federal Reserve Chairman Ben Bernanke said that when and how the Fed winds down its stimulus programs will depend on economic conditions.

Here's the key passage from Bernanke's prepared remarks:

Read more
Business & Education
7:35 am
Wed July 17, 2013

Southern States Closing 8 Stores in Rural Alabama

The Southern States store in Centre is one of several closing in the state.
southernstates.com

Southern States is closing eight farm supply and service cooperative stores in Alabama.

   The Cullman Times (http://bit.ly/1dEqHhN ) reports that the stores are shutting down as part of a corporate restructuring.

   The company is closing stores in Athens, Centre, Cullman, Danville, Geraldine, Headland, Henagar and Oneonta.

   Company officials say the affected stores account for only a small number of locations within its 17-state region. It's unclear how many jobs are affected.

Business
3:51 am
Wed July 17, 2013

Yahoo's Stock Soars, Sales Remain Flat

Originally published on Wed July 17, 2013 4:08 am

There's been excitement on Wall Street about a turnaround at Yahoo since Marissa Mayer became head of the company last year. Mayer has completed high profile acquisitions and sought to improve worker morale. Second quarter revenues missed expectations as Yahoo struggled to corral advertising dollars.

Europe
3:42 am
Wed July 17, 2013

Civil Servants In Greece 'Sit-In' To Fight For Their Jobs

Originally published on Wed July 17, 2013 6:57 am

Greece's two largest unions held a general strike and anti-austerity demonstrations on Tuesday. Now, the country's parliament will debate and vote on deep civil service cuts. Greece must downsize the public sector in order for it to keep getting international bailout loans.

Business
3:42 am
Wed July 17, 2013

Fed Chairman Ben Bernanke To Address Members Of Congress

Originally published on Wed July 17, 2013 5:50 am

It's semi-annual testimony time for Federal Reserve Chairman Ben Bernanke. Sounds dry but lots of people will be hanging on his every word these next two days. Markets have been on a wild ride since Bernanke delivered a news conference last month. In that speech he laid out plans to scale back the Fed's bond-buying program.

Business
3:42 am
Wed July 17, 2013

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 4:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

Business
3:42 am
Wed July 17, 2013

Hasbro Cuts Off Funding To National Scrabble Association

Originally published on Wed July 17, 2013 5:54 am

The company had spent millions of dollars supporting the independent group. The National Scrabble Association played a support role for the Scrabble community for more than 25 years. It worked with Merriam-Webster to create an official dictionary, and it refereed tournaments. Hasbro is now taking over those duties.

Business
4:03 pm
Tue July 16, 2013

'Living Wage' Laws Create Both Winners And Losers

Originally published on Tue July 16, 2013 7:00 pm

Transcript

AUDIE CORNISH, HOST:

To learn more about these living wage bills throughout the country, we're joined by David Neumark. For years, he studied the effects of living wage laws, and he directs the Center for Economics and Public Policy at the University of California at Irvine. Welcome to the program.

DAVID NEUMARK: Thanks for having me.

CORNISH: So, first, some context. How does the living wage differ from what we're all more familiar with, the minimum wage?

Read more
Business
4:03 pm
Tue July 16, 2013

D.C. Wage Rift Puts Spotlight On Wal-Mart's Urban Push

The scene in a Wal-Mart store in Alexandria, Va. Cities are a key growth area for retailers since suburbs are already saturated with big-box stores.
AP

Originally published on Tue July 16, 2013 7:00 pm

Wal-Mart's long-standing plans to come to Washington, D.C., are now up in the air. The City Council passed a living wage law that would require the world's largest retailer to pay $12.50 an hour, more than the city's current $8.25 minimum wage.

Read more
The Salt
3:49 pm
Tue July 16, 2013

Can Oysters With No Sex Life Repopulate The Chesapeake Bay?

Young oysters live on old oyster shells and slowly mature while forming a complete shell.
Astrid Riecken Washington Post/Getty Images

Originally published on Tue July 16, 2013 7:00 pm

The Chesapeake Bay once supplied half the world's oyster market. But pollution, disease and over-harvesting have nearly wiped out the population. It's a dire situation that's united former adversaries to revive the oyster ecosystem and industry.

Scientists and watermen have joined forces to plant underwater farms in the bay with a special oyster bred in a lab. Called triploid oysters, they have been selected for attributes like disease tolerance and fast growth.

Read more
The Salt
11:45 am
Tue July 16, 2013

Local Sake: America's Craft Brewers Look East For Inspiration

Yoed Anis, president of the Texas Sake Company, says "the only constraint holding us back" from faster growth is the absence of a sufficient and consistent rice supply.
Courtesy Texas Sake Company

Originally published on Tue July 16, 2013 12:29 pm

Most of us are familiar with that hot, musky-smelling, cloudy drink served in teacups at sushi bars and sometimes called, erroneously, "rice wine." In other words, most of us have had bad sake.

But finally, Americans are learning to love the good stuff.

Read more
Business
11:15 am
Tue July 16, 2013

Weather Puts A Damper On Coca-Cola Sales

Coca-Cola sales have slowed, in part because of the weather. The company says global soda sales rose by only 1 percent in the second quarter — less than expected. Coke's CEO cited rain and cold temperatures in the U.S., which seems to have put a damper on consumers' desire for a refreshing soft drink.

Pages