Originally published on Tue November 26, 2013 9:07 am
While home prices rose in major cities across the nation during the third quarter, data suggest that the housing market is beginning to shift to a slower rate of growth, according to the economists who put together the latest S&P/Case-Shiller Home Price Indices report.
Their statistics show prices rose 3.2 percent in the quarter and were up 11.2 percent from a year earlier.
NPR's business news begins with a new chief at Wal-Mart.
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GREENE: Doug McMillon of Jonesboro, Arkansas, started at Wal-Mart in 1984. It was a summer job, he was unpacking trucks. Yesterday, he was named as the retail giant's new CEO. Not only is the 47-year-old McMillon an insider who rose through the ranks, he's one of the few executives who actually worked under founder Sam Walton.
In the past week, this street market in Tacloban has grown exponentially as people try to earn money to rebuild their lives.
Credit Frank Langfitt/ NPR
Mark Lakaba, who was a construction worker before the storm, now sells candles, energy drinks and shampoo from a tarp in the market. He says about 90 percent of the goods in the market were looted in the frenzy that followed the typhoon.
Commerce has returned to the storm-savaged streets of Tacloban in the past week. People sell bananas along the roads, and a bustling market has sprung up across several blocks downtown.
Jimbo Tampol, who works for a local Coca-Cola distributor, drives across Tacloban selling ice-cold sodas from coolers. In a city where there is no electricity and little refrigeration, a cold soda is a big deal, a symbol of normalcy.
The 3D space epic Gravity made $35.5 million over its first weekend in China. Catching Fire, the second in the Hunger Games franchise opened two days later. The China Film Group says it does that to "create a space for domestic movies to survive and grow."
NPR's business news starts with no salary cap for Swiss executives.
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GREENE: A proposal in Switzerland to limit executive pay has been rejected by voters there. As we reported on the program last week, the initiative would have meant that an executive could never earn more money in a month than what the lowest-paid employee earns in a year.
Some of the sanctions against Iran will be eased under an agreement reached between Iran and six world powers over the weekend. In return, Iran promises to temporarily curb part of its nuclear program.
There's widespread agreement that sanctions have worked, squeezing Iran financially and bringing its leaders to the negotiating table. Iran's economy is, by any measure, in terrible shape.