NPR Business

Business
4:21 am
Fri August 23, 2013

Technical Problems Force Nasdaq To Shut Down For 3 Hours

Originally published on Fri August 23, 2013 7:25 am

The stock market revealed its vulnerability again on Thursday, in this age of high-speed electronic trading. The Nasdaq, where more than 3,000 tech-related companies are publicly traded, was shut down for more than three hours.

Business
4:21 am
Fri August 23, 2013

Unemployed Man Holds Sign In Philly: 'I Need A Job'

Originally published on Fri August 23, 2013 10:33 am

Mark Mercer, 54, has been standing in Philadelphia's financial district holding a sign that reads: "I don't want your change. I need a job." Dressed for the office in black shoes and a black suit, Mercer says he's handed out more than 100 resumes.

Business
4:21 am
Fri August 23, 2013

Jack Daniel's To Expand Tennessee Distillery

Originally published on Fri August 23, 2013 7:25 am

Transcript

DAVID GREENE, HOST:

Soaring sales figures suggests that the world has developed quite a taste for American whiskey. And to satisfy the masses, Jack Daniel's is expanding its distillery in the small city calls home, Lynchburg, Tennessee.

Blake Farmer from member station WPLN reports.

BLAKE FARMER, BYLINE: Last year, Jack Daniel's hit a sales record - 11 million cases of charcoal-mellowed, sour mash whiskey. But the nearly 150-year-old brand still only controls three percent of the global market, says senior vice president John Hayes.

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Business
4:21 am
Fri August 23, 2013

Wal-Mart Promises To Buy More U.S.-Made Goods

Originally published on Fri August 23, 2013 7:25 am

After decades supplying the American consumer with every import imaginable, Wal-Mart now says it wants to stock its shelves with more goods made in the U.S. In Orlando Thursday, the giant retailer sponsored a conference aimed at encouraging U.S. companies to bring their production back home.

NPR Story
4:16 am
Fri August 23, 2013

Obamacare To Force Millions To Upgrade Insurance

Originally published on Fri August 23, 2013 7:25 am

Despite promises by President Obama that people can keep the insurance they have once Obamacare is in full effect, millions will have to upgrade their policies to meet the benefit standards laid out by the Affordable Care Act. The measure will be in full swing this January.

Planet Money
3:24 am
Fri August 23, 2013

The Charity That Just Gives Money To Poor People

Bernard Omondi got $1,000 from GiveDirectly.
Jacob Goldstein NPR

Originally published on Fri August 23, 2013 1:41 pm

For more of our reporting on this story, please see our recent column in the New York Times Magazine, and the latest episode of This American Life.

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Business
5:08 pm
Thu August 22, 2013

Is Government's Renewed Push On Mortgage Fraud Too Late?

Foreclosures increased dramatically as a result of risky subprime loans during the 2000s.
Justin Sullivan Getty Images

Originally published on Thu August 22, 2013 5:42 pm

"Remain aggressive." That's the message Attorney General Eric Holder says he has given to prosecutors around the country about pursuing wrongdoing by financial institutions — particularly, wrongdoing related to the financial crisis of 2008.

But as the five-year anniversary of the crisis approaches, the record of prosecutions against high-level Wall Street executives has been dismal.

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Business
5:08 pm
Thu August 22, 2013

Nasdaq Trading Halted For Hours By Technical Glitch

Trading on the Nasdaq exchange was halted today due to an unspecified technical glitch. The shutdown rattled investors and raised fresh concerns about the safety and stability of financial markets. Nasdaq in particular has experienced technological mishaps, most notably during the Facebook IPO in 2012.

The Two-Way
4:55 pm
Thu August 22, 2013

Detroit's Packard Complex Could Sell Below $100,000 If Deal Fails

Detroit's abandoned Packard car plant, seen here in a 2010 photo, could eventually sell for $21,000 if a development deal falls through, a Wayne County official says.
Carlos Osorio AP

Originally published on Thu August 22, 2013 6:10 pm

The Packard plant, which once symbolized the might of America's auto industry, is at risk of heading to auction if a pending development deal fails. If that happens, The Detroit Free Press reports, the 35-acre site eventually could be sold "for as little as $21,000," a figure that comes from Wayne County Deputy Treasurer David Szymanski.

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The Two-Way
1:37 pm
Thu August 22, 2013

Nasdaq Resumes Trading After Halt For Technical Problem

Andrew Burton Getty Images

Originally published on Thu August 22, 2013 6:16 pm

(This post was last updated at 6:14 p.m. ET)

Nasdaq has resumed trading in all securities following a prolonged halt Thursday afternoon caused by a technical glitch.

"NASDAQ will first re-open trading in symbols ZVZZT and AAIT with a 15-minute quoting period beginning at 14:30, with trading beginning at approximately 14:45. All other securities will then be released at 14:55 with a 15-minute quote only period with trading resuming at approximately 15:10," the exchange said in a statement.

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