NPR Business

Business
11:10 am
Tue July 15, 2014

Citigroup Settlement Offers Former Homeowners 'Cold Comfort'

The Citigroup Center is viewed in midtown Manhattan. Critics say the U.S. settlement with the banking giant will do nothing for those hurt most by the foreclosure crisis: people who lost their homes.
Timothy A. Clary AFP/Getty Images

Should you be watching your mailbox for a check from Citigroup?

The banking giant says it will pay out $2.5 billion to provide "consumer relief" to help settle charges brought against it by the U.S. Justice Department. The government said Monday that "defects" in Citi's mortgage securities had fueled the financial crisis that triggered the Great Recession.

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The Two-Way
10:47 am
Tue July 15, 2014

NPR News Executive Leaves For Job At The Atlantic

Margaret Low Smith is leaving her post as NPR News' senior vice president to become president of AtlanticLIVE.
Stephen Voss NPR

Originally published on Tue July 15, 2014 12:14 pm

Margaret Low Smith, a longtime NPR executive who has served as senior vice president for news for three years, is leaving the company to become the president of The Atlantic's live events business.

"Her departure will be felt as profoundly as any in recent memory," NPR Chief Content Officer Kinsey Wilson wrote in a memo to staff Tuesday.

He added that Smith's final day at NPR will be at the end of July. She joined the company in 1982 as an overnight production assistant on Morning Edition.

Wilson added that:

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The Two-Way
8:06 am
Tue July 15, 2014

Tobacco Giant Reynolds American To Buy Lorillard In $27B Deal

Cigarette maker Reynolds American, which makes Camel, said it's buying Lorillard Inc. for $27 billion.
Keith Srakocic AP

Originally published on Tue July 15, 2014 11:41 am

Cigarette giant Reynolds American announced Tuesday that it's buying rival Lorillard in a $27 billion deal that unites two of the country's biggest tobacco companies.

The acquisition creates a giant to rival Philip Morris USA, which is owned by Altria Group Inc., the No. 1 tobacco company in the country. Altria's Marlboro brand dominates the U.S. cigarette market.

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Business
7:24 am
Tue July 15, 2014

VW To Expand Chattanooga Plant

Originally published on Tue July 15, 2014 7:53 am

Transcript

STEVE INSKEEP, HOST:

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NPR Story
5:18 am
Tue July 15, 2014

Employees Criticize CIA Cafeteria, FOI Request Reveals

Originally published on Tue July 15, 2014 7:53 am

The news website MuckRock published complaints about the CIA cafeteria which came from a 2010 Freedom of Information Act request. Spies prefer individual ketchup packets to pump dispensers.

NPR Story
5:11 am
Tue July 15, 2014

Chocolatier Lindt To Buy Russell Stover

Originally published on Tue July 15, 2014 7:53 am

Transcript

STEVE INSKEEP, HOST:

So the Swiss chocolate maker, Lindt, has announced plans to gobble up Kansas City-based Russell Stover, the company behind all those Valentine samplers. I know what you are thinking. I know what you are thinking - you know, that's all very fine. You're thinking about all of this business news, but what does it mean for my chocolate? Well, Frank Morris of member station KCUR in Kansas City reports.

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Parallels
3:32 am
Tue July 15, 2014

Kurds May Have Oil To Export, But Buyers Are Harder To Find

A tanker carrying crude oil from Iraq's Kurdish region anchors near Ashkelon, Israel. It's believed the oil has been off-loaded into Israel. The U.S. and Baghdad oppose the Kurdish export of oil from the autonomous northern region.
David Buimovitch AFP/Getty Images

Originally published on Tue July 15, 2014 9:14 am

Kurdish security forces, the peshmerga, have taken over two major oil fields near Kirkuk, in northern Iraq. The fields have the potential to put billions of dollars into the coffers of the Kurdish regional government.

But there's a hitch: Even if the Kurdish government has control of the oil, it doesn't necessarily mean it can export it — thanks to the Baghdad government and the U.S.

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Business
3:31 am
Tue July 15, 2014

Leased Solar Panels Can Cast A Shadow Over A Home's Value

Mark Bortman of Exact Solar in Yardley, Pa., says having leased solar panels on a roof can add an extra step when selling a house. He says typically a buyer will assume the remainder of the lease, but that requires a credit check and some paperwork
Jeff Brady NPR

Originally published on Thu July 17, 2014 11:11 am

Installing solar panels on a house to generate electricity often costs $20,000 or more, and many homeowners have turned to leasing programs to avoid those upfront costs. But most leases are for 20 years, and that can present problems if someone wants to sell the house before the lease is completed.

Peter Auditore of El Granada, Calif., was happy with the leased solar panels he installed a few years back. When he decided to sell, he found a buyer who also appreciated the environmental benefits of solar panels. But then there was a hitch just as the sale was about to go through.

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Media
4:15 pm
Mon July 14, 2014

The Rise Of The Online Rebuttal — And How It's Making Waves In Print

Originally published on Mon July 14, 2014 6:24 pm

Transcript

AUDIE CORNISH, HOST:

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Law
4:15 pm
Mon July 14, 2014

Citigroup Agrees To $7 Billion Fine For 'Egregious' Misconduct

Originally published on Mon July 14, 2014 6:24 pm

Citigroup has agreed to pay $7 billion to settle claims that it committed fraud when it sold mortgage-backed securities in the years leading up to the financial crisis. Most of the money will be paid to the U.S. Treasury, but some will be used to provide mortgage relief to struggling homeowners.

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