Business & Education

Asia
3:40 am
Fri June 21, 2013

China's Credit Crunch Felt Across Financial Markets

Transcript

RENEE MONTAGNE, HOST:

Alarm bells went off in China's financial system yesterday. That's because interest rates for loans that banks make to each other - like the loans we've just been hearing about - shot up, drying up credit as China's banks searched for cash. The effects reached markets here, where the Dow dropped more than 2 percent yesterday.

All of this seems to be caused by the Chinese government trying to send its banks a message. To explain what happened and why, we turn to NPR's correspondent in Shanghai, Frank Langfitt. Good morning.

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Business
3:34 am
Fri June 21, 2013

Instagram Expands With Video Feature

Originally published on Fri June 21, 2013 5:18 am

This move pits Facebook against Twitter, which owns the six-second video-sharing service, Vine. Adding video brings significant change to the Instagram experience.

Business
3:34 am
Fri June 21, 2013

Business News

Originally published on Fri June 21, 2013 6:01 am

Libor is the London interbank offered rate. It's important because it establishes the rate that banks pay to borrow from one another.

Business
3:34 am
Fri June 21, 2013

The Last Word In Business

Originally published on Fri June 21, 2013 7:46 am

Gandolfini, who died this week while vacationing in Italy, became famous for his role in The Sopranos. Tony Soprano, the mob boss, described his job as "waste management consultant." Call it what you want, but on the job, Tony Soprano had plenty of business insights.

Shots - Health News
2:04 am
Fri June 21, 2013

With Health Exchanges Poised To Open, PR Push Draws Scrutiny

In San Jose, Calif., on June 6, President Obama encouraged people to sign up for insurance in the nation's largest health insurance market.
Stephen Lam Getty Images

Originally published on Fri June 21, 2013 8:07 pm

This weekend marks 100 days until people can begin signing up for new health insurance coverage under the federal health care law. It also marks another milestone: the launch of an enormous public relations effort to find people eligible for new coverage and urge them to sign up when the time comes.

But like everything else about the health law, even this seemingly innocuous effort has been touched by controversy.

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The Two-Way
4:07 pm
Thu June 20, 2013

Dow Loses 350 Points After Fed Hints It Will Stop Buying Bonds

Traders work the floor of the New York Stock Exchange after the opening bell on Thursday.
John Moore Getty Images

Originally published on Thu June 20, 2013 4:25 pm

The Dow Jones industrial average closed down more than 353 points on Thursday in a selloff sparked by uncertainty about the end of a government monetary stimulus program and a credit crunch in China.

Wall Street followed a downturn in global markets. The Standard & Poor's 500-stock index lost 2.5 percent, while the Dow and Nasdaq composite indexes both lost 2.3 percent.

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The Salt
4:02 pm
Thu June 20, 2013

Why Slave Labor Still Plagues The Global Food System

Workers process shrimp at a factory in Thailand in 2009.
Chumsak Kanoknan Getty Images

Originally published on Fri June 21, 2013 9:01 am

When the State Department released its annual report on human trafficking Wednesday, we got a chilling reminder that even in 2013, slave labor is still embedded in the global food system.

As many as 27 million men, women and children are estimated to be trafficking victims at any given time, according to the report. And some of those victims, the State Department says, are later forced to work in agriculture and food processing (though no one has a good idea how many).

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Environment
1:35 pm
Thu June 20, 2013

The Business And Politics Of Air Quality Regulation

In a speech in Germany Wednesday, President Barack Obama said it's time to take "bold action" on climate change. Many believe that major changes to policies on carbon emissions lie ahead, which would mean a host of new regulations for businesses.

The Two-Way
11:26 am
Thu June 20, 2013

He's An Impostor, The Navy Says About Cap'n Crunch

Say it ain't so, Cap'n.
Quaker Oats Company PepsiCo

Originally published on Thu June 20, 2013 11:53 am

We don't know how, but we missed a major scandal brewing in the Navy for decades. It's important, so even if we're a little late to the story we still wanted to point it out: Cap'n Crunch is an impostor.

The Cap'n was unmasked on June 14 by a food blogger, who noticed the uniform he wears on cereal boxes had the stripes of a commander, not a captain. That is: A captain has four stripes on his sleeve, while a commander has three.

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Music
10:48 am
Thu June 20, 2013

Free Music? Yes Please!

Originally published on Thu June 20, 2013 1:42 pm

Transcript

CELESTE HEADLEE, HOST:

Now we want to talk about the way people are getting new music across the globe. Earlier this week, hip-hop mogul Jay-Z announced he's teaming up with Samsung to release his next album "Magna Carta Holy Grail." Here he is advertising that release.

(SOUNDBITE OF JAY-Z COMMERCIAL)

JAY-Z: The idea is to really finish the album and drop it, giving it to the world at one time and then letting them share it when it goes out.

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The Two-Way
8:46 am
Thu June 20, 2013

Weekly Jobless Claims Rise Slightly

Originally published on Thu June 20, 2013 10:31 am

The number of first-time claims for unemployment insurance rose by 18,000 last week, the Employment and Training Administration says. At 354,000, the number remained at a level consistent with modest job growth.

According to the agency, the four-week moving average, a less volatile indicator, rose 2,500, to 348,250.

The AP reports:

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Code Switch
8:00 am
Thu June 20, 2013

For Black Americans, An Even Split In Financial Perceptions

If our survey is any indication, this cash-rich stock photo model probably feels pretty good about life.
Willie B.Thomas iStockphoto.com

Originally published on Thu June 20, 2013 10:07 am

NPR, the Robert Wood Johnson Foundation and the Harvard School of Public Health recently polled 1,081 African-Americans about their lives. One of the areas respondents were asked about was their perceptions of their financial status.

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The Two-Way
7:59 am
Thu June 20, 2013

Obama Working On Plan That Limits Power Plant Emissions

The smoke stacks at American Electric Power's Mountaineer coal power plant in New Haven, W.Va.
Saul Loeb AFP/Getty Images

Originally published on Thu June 20, 2013 10:29 am

President Obama will soon unveil a plan that will put limits on the carbon emissions of existing power plants, the administration's top energy adviser says.

The New York Times reports this is the most consequential part of a bigger plan to curb climate change. The newspaper adds:

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Business & Education
7:31 am
Thu June 20, 2013

Auto Seat Maker Breaking Ground in Montgomery

DAS North America will build a new manufacturing plant in Montgomery. It's expected to create about 300 jobs.
Robert Fouts/ Montgomery Area Chamber of Commerce

An automotive supplier is breaking ground on a 300,000-square-foot manufacturing plant in Montgomery.

   Gov. Robert Bentley and other officials will be on hand for a ceremony being held Thursday afternoon for DAS North America.

   The company makes seats for Kia and Hyundai vehicles. The expansion will create about 300 jobs in the Montgomery Industrial Park.

   The company is currently located in a temporary facility that employs about 100 people.

   The $37 million project is supposed to be complete next year.

Business & Education
7:24 am
Thu June 20, 2013

Few Transfers Expected Under Alabama Tax Credits

The leaders of two Alabama private school organizations don't expect many new students to apply in the wake of a law providing tax credits for students transferring from failing schools.

   The executive director of the Alabama Christian Education Association, Robin Mears, said he expects less than 100 transfers to his member schools. The executive director of the Alabama Independent School Association, Randy Skipper, said he hasn't heard about any students inquiring about transferring.

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