Business & Education

The Two-Way
7:48 am
Fri April 17, 2015

Bloomberg Terminals Go Dark For Hours, Sending Ripples Through Markets

Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange on Friday.
Reuters/Landov

Originally published on Fri April 17, 2015 10:03 am

Updated at 10:15 a.m. ET

If there's one piece of hardware that can be found on nearly every trader's desk, regardless of time zone, it's the Bloomberg data terminal.

So when the terminals experienced a global outage lasting hours, it sent chaos through markets where the "screens" are relied upon to analyze and interpret financial data — and to exchange market gossip with traders around the world.

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The Two-Way
6:19 am
Fri April 17, 2015

Former IMF Head Rato Is Arrested Over Tax Fraud Allegations In Spain

Originally published on Fri April 17, 2015 12:38 pm

Rodrigo Rato, who led the International Monetary Fund from 2004-2007, was arrested in Spain last night over allegations of tax evasion and money laundering.

An influential figure in Spanish banking and politics, Rato was the predecessor of IMF chief Dominique Strauss-Khan, who left office under a cloud of legal troubles and allegations of sexual assault.

From Madrid, NPR's Lauren Frayer reports:

"Tax and customs officials raided Rodrigo Rato's Madrid home last night and took him away in a police car.

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Europe
5:11 am
Fri April 17, 2015

Greece's Economy Remains Embroiled In Turmoil

Originally published on Fri April 17, 2015 1:10 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Planet Money
4:15 am
Fri April 17, 2015

When It Comes To Buying Decisions, Why Feelings Come First

Originally published on Fri April 17, 2015 6:35 am

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

DAVID GREENE, HOST:

How are you feeling seems like the kind of question you might get from a psychiatrist, not an economist. Then again, Stacey Vanek Smith, from NPR's Planet Money team, reminds us about one vitally important economic indicator.

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Goats and Soda
2:43 am
Fri April 17, 2015

When The World Bank Does More Harm Than Good

In the 1950s, the World Bank funded the creation of the world's largest man-made dam, the Kariba Dam, which sits on the border of Zimbabwe and Zambia. The construction of such dams can have dire consequences for poor people living near a river, an investigation found.
Jekesai Njikizana AFP/Getty Images

Originally published on Fri April 17, 2015 7:17 am

The World Bank's goal is to end extreme poverty and to grow income for the poorest people on the planet.

The bank does this by lending money and giving grants to governments and private corporations in some of the least developed places on the planet. For example, money goes to preserving land, building dams and creating health care systems.

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The Two-Way
7:44 pm
Thu April 16, 2015

Feds Cancel Commercial Sardine Fishing After Stocks Crash

A tray of sardines in Costa Mesa, California, in this November 17, 2014 photo. Plummeting sardine populations force a complete ban on sardine fishing off the U.S. West Coast for more than a year.
LUCY NICHOLSON Reuters /Landov

Originally published on Fri April 17, 2015 6:58 am

Life has suddenly gotten easier for the sardine. Federal regulators are not only closing the commercial sardine fishing season early in Oregon, Washington and California, but it will stay closed for more than a year.

The decision to shut down the sardine harvest is an effort to build up depleted stocks of the small, oily fish. The conservation group, Oceana, says that sardine populations have crashed more than 90 percent since 2007.

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All Tech Considered
6:39 pm
Thu April 16, 2015

The Hidden FM Radio Inside Your Pocket, And Why You Can't Use It

Originally published on Fri April 17, 2015 7:01 am

You may not know it but most of today's smartphones have FM radios inside of them. But the FM chip is not activated on two-thirds of devices. That's because mobile makers have the FM capability switched off.

The National Association of Broadcasters has been asking mobile makers to change this. But the mobile industry, which profits from selling data to smartphone users, says that with the consumer's move toward mobile streaming apps, the demand for radio simply isn't there.

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Asia
4:51 pm
Thu April 16, 2015

New Asian Development Bank Seen As Sign Of China's Growing Influence

Chinese Finance Minister Lou Jiwei (left) speaks during the signing ceremony of the Asian Infrastructure Investment Bank, Oct. 24, in Beijing.
Getty Images

Originally published on Thu April 16, 2015 11:54 pm

China says 57 countries have signed on as charter members of the new China-backed Asian Infrastructure Investment Bank. They include some of the United States' closest allies, which added their names despite pressure from the White House not to join.

The Obama administration is concerned the new bank will compete with Western-led institutions like the World Bank and the International Monetary Fund, but leaders of those institutions don't seem to be worried.

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NPR Ed
3:44 pm
Thu April 16, 2015

LA Schools To Apple: You Owe Us

Jorge Quinteros Flickr

Originally published on Thu April 16, 2015 7:29 pm

The Los Angeles Unified School District is demanding that Apple Inc. refund millions of dollars for Pearson software that had been loaded onto iPads for the district's 650,000 students.

If an agreement on the dispute cannot be reached, the nation's second-largest school district could take Apple to court.

Two years after the district launched the most expansive school technology initiative in the country, its attorney said it is "extremely dissatisfied" with the work of Pearson, the publisher of the Common Core learning software.

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Around the Nation
4:06 am
Thu April 16, 2015

In Record Drought, California Golf Course Ethically Keeps Greens Green

A bio-filtration basin, pictured during installation in 2007, captures water runoff from the Pelican Hill golf club's maintenance facility. The water is filtered through grass, gravel, sand, soil and filter fabric into an underground drainage system.
Pelican Hill

Originally published on Thu April 16, 2015 12:58 pm

In drought-stricken California, golf is often seen as a bad guy — it can be hard to defend watering acres of grass for fun when residents are being ordered to cut their usage and farmers are draining their wells.

But golf is a $6 billion industry in the state and employs nearly 130,000 workers, according to the California Golf Course Owners Association. So while the greens are staying green, some golf courses are saving every drop of water they can.

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The Salt
2:51 am
Thu April 16, 2015

How Almonds Became A Scapegoat For California's Drought

Originally published on Thu April 16, 2015 9:05 am

You may have heard by now that it takes one gallon of water to produce just one almond. And those are considered fighting words in drought-stricken California, which produces 80 percent of the world's supply of the tasty and nutritious nut.

So when almond grower Daniel Bays hears that, he just shakes his head.

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Business
3:19 pm
Wed April 15, 2015

Online Crafts Marketplace Etsy Prepares For Public Offering

Originally published on Wed April 15, 2015 5:52 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

ROBERT SIEGEL, HOST:

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Business
3:19 pm
Wed April 15, 2015

Pumpjacks Represent Symbol Of Life In American Oil Fields

Originally published on Wed April 15, 2015 5:52 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

ROBERT SIEGEL, HOST:

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The Two-Way
12:28 pm
Wed April 15, 2015

U.S. Predicted To Be Net Energy Exporter In Next Decade; First Time Since 1950s

Originally published on Wed April 15, 2015 5:13 pm

The U.S. will reach a new balance in energy trade "sometime between 2020 and 2030," says the Energy Information Administration, which predicts the U.S. could become a net energy exporter in the near future.

The federal agency's prediction cites a rise in domestic natural gas production and changes in energy demands. If it happens, the shift would end a streak of more than 50 years in which the U.S. has been a net importer of energy.

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The Two-Way
9:08 am
Wed April 15, 2015

EU Charges Google With Antitrust Violations, Will Also Look At Android

European Competition Commissioner Margrethe Vestager announces formal charges against Google, accusing the company of abusing its dominant position as Europe's top search engine.
John Thys AFP/Getty Images

Saying that Google has abused its dominant position in the search market "by systematically favoring its own comparison shopping product," the European Commission has sent a list of antitrust charges to the search giant. The European Union has also opened a new inquiry into the Android mobile system.

"I am concerned that the company has given an unfair advantage to its own comparison shopping service" and broken European law, says the EU commissioner in charge of competition policy, Margrethe Vestager.

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