NPR's Business News begins with BMW looking south. The German automaker has announced plans to spend a billion dollars on a new factory in Mexico. BMW says the plant, it's first in Mexico, will employ about 1,500 people and produce up to 150,000 cars a year. BMW's only other North American factory is in Spartanburg, South Carolina. This spring, BMW said it will invest a billion dollars in that plant as well to increase its production capacity to 450,000 cars by the end of 2016. Transcript provided by NPR, Copyright NPR.
As the Web turns 25, it's becoming a terrific place if you're a bot.
It began as a tool for human communication, but now, over 60 percent of the traffic on the Web is automated applications called bots talking to other bots, according to one study. And experts say about half of those bots are bad.
Atlanta-based SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve criminal allegations that it mishandled applications from homeowners seeking loan modifications under a federal program.
From NPR News this is ALL THINGS CONSIDERED. I'm Robert Siegel.
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And I'm Melissa Block. A debate has been raging in Washington, D.C. over the future of an obscure federal agency - the Export-Import Bank. And all the way across the country in the other Washington - Washington state - businesses, labor unions and politicians say the bank's demise would have severe consequences. Ashley Gross of member station KPLU in Seattle reports.
For years, the main federal transportation program has been spending more money than it takes in. This year, the Congressional Budget Office estimates the Transportation Department will disburse $45 billion while collecting only $33 billion for its Highway Trust Fund.
As a result, Transportation Secretary Anthony Foxx warned states on Tuesday that they will start seeing cuts of 28 percent in federal funding for roads and bridges next month unless Congress comes up with some extra money.
German lawmakers have approved a minimum hourly wage of 8.50 euros, backing a controversial proposal that would cover many workers starting next year. The amount is equal to more than $11.50 at today's exchange rate.
What we know as the World Wide Web — the main way by which most of us access the Internet — just turned 25 this year. Its existence has allowed for all kinds of learning and free expression, coding and making, rule-breaking and platform-making.
Analysts' expectations of continued growth in the jobs report for June were surpassed by federal data issued this morning, as the Labor Department says U.S. employers added 288,000 jobs last month. The government released the numbers one day early because of the July 4 holiday.
Update at 8:35 a.m. ET: 288,000 Jobs Added
"Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent," the Bureau of Labor Statistics says.
This spring, the U.S. finally gained back all the jobs that were lost during the recession. In other words, the number of jobs in the country is now higher than it was back in January 2008, at the beginning of the recession.
But the jobs are different — and they're in different places. In a handful of states, there are lots more jobs than there used to be. But in many others, there are still far fewer jobs than there were before the recession.