Business & Education

Europe
3:45 am
Tue July 2, 2013

Trade Talks With E.U. Threatened After Spying Allegations

Originally published on Tue July 2, 2013 7:36 am

Europe is in an uproar over revelations that U.S. intelligence services are spying on the European Union mission in New York and its embassy in Washington. The new allegations come from the latest secret U.S. National Security Agency documents leaked by Edward Snowden.

Economy
3:45 am
Tue July 2, 2013

Portugal's Budget Austerity May Do More Harm Than Good

Originally published on Tue July 2, 2013 7:36 am

Transcript

DAVID GREENE, HOST:

I always wondered where some of those stock market symbols came from.

To Europe now. Portugal's finance minister - the architect of the country's economic bailout deal with the European Union - has resigned. In stepping down, he cited the backlash against the policies he imposed at the urging of European lenders.

NPR's Lauren Frayer reports on this latest turn in the debate over whether severe budget austerity does more harm than good.

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Business
3:45 am
Tue July 2, 2013

Business News

Originally published on Tue July 2, 2013 7:36 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts on a high note.

(SOUNDBITE OF MUSIC)

MONTAGNE: Steinway Musical Instruments announced Monday that it would be acquired by the private equity firm Kohlberg and Company in a deal worth $438 million. Kohlberg says it plans to build on Steinway's 160 years of piano-making tradition and expand its sales globally.

Business
3:45 am
Tue July 2, 2013

Former Energy Secretary Wants Power Generation Decentralized

Originally published on Tue July 2, 2013 7:36 am

Transcript

RENEE MONTAGNE, HOST:

President Obama announced, last week, a hugely ambitious plan to reduce greenhouse gas emissions and push the country towards cleaner energy. Right now, just nine percent of our energy consumption comes from renewable sources.

Former U.S. secretary of energy Steven Chu would like to see us get to 50 percent by the middle of the century. Chu left the cabinet in April, but even before that, he began talking to utility companies could adopt a radically different business model.

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Africa
3:45 am
Tue July 2, 2013

Obama Announces Trade Africa Initiative

Originally published on Tue July 2, 2013 7:36 am

Transcript

DAVID GREENE, HOST:

And farther south on the African continent, President Obama is wrapping up a three-country tour. He's in Tanzania now, on the coast of the Indian Ocean. NPR's Ari Shapiro is travelling with the president and reports on Obama's first day in the Tanzanian city of Dar es Salaam.

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Television
3:45 am
Tue July 2, 2013

Local TV Stations Snapped Up In Buying Sprees

Originally published on Tue July 2, 2013 7:36 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION, from NPR News. Good morning. I'm David Greene.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

The Chicago-based Tribune Company, newly out of bankruptcy, is trying to sell off its newspaper holdings. Yet even as the company withdraws from print media, it's making a big push into local television, following the lead of other major media players.

NPR's David Folkenflik reports

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Economy
3:45 am
Tue July 2, 2013

Economic Squeeze Plays Out On Egyptian Streets

Originally published on Tue July 2, 2013 7:36 am

David Greene talks to Farah Halime, a Cairo-based financial journalist who writes about Egypt's economy. Whether President Morsi caves to protesters' demands to step down, whoever ends up running the country will have to deal with a terribly deteriorating economy. Halime's blog is called the RebelEconomy.com.

Business
3:45 am
Tue July 2, 2013

The Last Word In Business

Originally published on Tue July 2, 2013 7:36 am

Transcript

DAVID GREENE, HOST:

And our last word in business today is sure to get you in an Empire State of mind.

Many city-dwellers have embraced Uber. This is an app that allows you to call a taxi or a town car and then track its timely arrival to your location.

RENEE MONTAGNE, HOST:

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The Two-Way
2:29 pm
Mon July 1, 2013

Top Vatican Bank Officials Resign

Ernst von Freyberg, president of the Vatican Bank Institute for Works of Religion, or IOR, talks with The Associated Press during an interview June 10 at his office in Vatican City. He was named the bank's interim director on Monday after the director and the deputy director both resigned.
Domenico Stinellis AP

Originally published on Mon July 1, 2013 7:42 pm

Two top officials of the Vatican bank resigned Monday just days following the arrest of a senior cleric with ties to the institution after police caught him with the equivalent of about $26 million in cash that they say he was trying to bring into Italy from Switzerland.

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Parallels
2:09 pm
Mon July 1, 2013

An Online Upstart Roils French Media, Politics

Edwy Plenel, head of the online investigative journalism website Mediapart, at his Paris office in April. The paper has attracted paying subscribers and is making a profit.
Francois Mori AP

Originally published on Mon July 1, 2013 5:11 pm

Every week, it seems, a new scandal is unearthed by the upstart, online newspaper Mediapart. The most recent bomb was that President Francois Hollande's budget minister was evading taxes when he was supposed to be cracking down on tax cheats. After vehemently denying the allegations, in the face of overwhelming evidence, Jerome Cahuzac was forced to resign.

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Africa
4:05 am
Mon July 1, 2013

U.S. Investors, Businesses Hesitant To Set Up In Africa

Originally published on Mon July 1, 2013 6:19 am

President Obama's trip to Africa comes at a time of increasing African economic growth and declining U.S. influence on the continent. To be successful, he will need to overcome a general perception that the United States has withdrawn from Africa. At the same time, he must convince an American public and private sector that getting more invested in Africa will be good for American jobs and the economy.

Business
3:39 am
Mon July 1, 2013

The Last Word In Business

Originally published on Mon July 1, 2013 6:19 am

A wealthy New York couple is suing their son's kindergarten, claiming they were tricked into paying $50,000 for a finger painting done by a group of five-year-olds — including their son. The couple was out of town during the school's benefit auction, so they instructed a proxy to make sure they made the highest bid. The couple claim the school rigged the auction by having a first-grade teacher drive up the price.

Business
3:39 am
Mon July 1, 2013

Business News

Originally published on Mon July 1, 2013 6:19 am

Two of San Francisco Bay Area Rapid Transit's largest unions went on strike after weekend talks with management failed to produce a new contract. The move ensures a nightmarish journey ahead for Monday commuters.

Europe
2:01 am
Mon July 1, 2013

Thar He Blows: Trump Tussles With Scots Over Wind Turbines

Donald Trump plays a stroke as he officially opens his new Trump International Golf Links course in Aberdeenshire, Scotland, last July. Now, he is aggressively fighting Scottish plans to build 11 wind turbines off the coast overlooked by his golf course and other proposed projects.
Andy Buchanan AFP/Getty Images

Originally published on Mon July 1, 2013 8:52 am

A fierce legal battle is under way in Scotland, involving U.S. tycoon Donald Trump.

At the heart of the wrangle: wind.

Europe is leading the way in generating energy using wind. Huge turbines whir away on the hills and in the seas throughout the continent.

The roots of Trump's hatred for these turbines can be found, at least in part, in what was once a stretch of rolling dunes and grassland in northeastern Scotland, overlooking the North Sea.

He is spending hundreds of millions creating a resort there.

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Economy
1:28 am
Mon July 1, 2013

Alabama County Files Plan To Exit Bankruptcy

Originally published on Mon July 1, 2013 9:57 am

Alabama's bankrupt Jefferson County has filed a 101-page plan that would force creditors to lose up to 70 cents on the dollar.

In 2011, the county underwent what's been called the largest government bankruptcy in U.S. history. It's in debt by about $4.2 billion.

Because of combination of corruption and poor management, the municipality was unable to repay money it borrowed to upgrade its sewage system.

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