NPR Business

Business
10:47 am
Wed May 29, 2013

China's Shuanghui Buys Pork Giant Smithfield For $4.7 Billion

Transcript

RENEE MONTAGNE, HOST:

NPR's business news begins with a meaty Chinese investment in the U.S.

A Chinese meat producer plans to buy the U.S. meat company Smithfield for $4.7 billion dollars. Smithfield is the world's largest pork producers, and by some estimates, if this deal is approved by regulators, it would be the biggest takeover of a U.S. company by a Chinese company.

The Two-Way
9:27 am
Wed May 29, 2013

Smithfield Foods To Be Sold To Chinese Firm For $4.72 Billion

Smithfield Foods, makers of ham products under a variety of brand names, is being purchased by Chinese food maker Shuanghui International, for $4.72 billion in cash.
LM Otero AP

Originally published on Wed May 29, 2013 10:11 am

The makers of Smithfield Ham, an icon on America's culinary scene for decades, are selling the publicly traded company to China's Shuanghui International Holdings Limited for about $4.72 billion in cash. The deal also includes an exchange of debt.

The purchase values Smithfield Foods at $7.1 billion — a figure that would make the purchase "the largest Chinese takeover of a U.S. company," according to Bloomberg News.

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Business
5:29 am
Wed May 29, 2013

The Last Word In Business

Originally published on Wed May 29, 2013 10:47 am

Transcript

DAVID GREENE, HOST:

And we'll end this hour on a different note. Our last word in business is: Ap cappella.

(SOUNDBITE OF SONG, "YOU AND I")

NYC SHARP: (Singing) When we launched you treated me, we should patch up. But the next dream meeting wasn't for six months. This time I'm not leaving without you.

RENEE MONTAGNE, HOST:

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Business
5:29 am
Wed May 29, 2013

White House Economic Advisers To Leave

Originally published on Thu May 30, 2013 10:19 am

Transcript

RENEE MONTAGNE, HOST:

One of President Obama's top economic advisers is leaving the White House later this year, to return to his teaching job at Princeton. Since 2011, Alan Krueger has chaired the President's Council of Economic Advisers.

NPR's Scott Horsley takes this look back at his time in the White House.

SCOTT HORSLEY, BYLINE: One of Alan Krueger's tasks at the White House is deciphering the many different signals the economy sends, including the closely watched jobs report that typically comes out on the first Friday of the month.

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Business
5:29 am
Wed May 29, 2013

Business News

Originally published on Wed May 29, 2013 10:47 am

Transcript

(SOUNDBITE OF MUSIC)

RENEE MONTAGNE, HOST:

NPR's business news begins with a big bump for housing.

House prices went up 10 percent between March of this year and last year. That's according to the latest S&P/Case-Shiller Index. It's the largest gain in housing prices in seven years, putting prices on average where they were in mid-2003.

Law
5:29 am
Wed May 29, 2013

Fox Dispute Justice Department's Stand On Subpoena

Originally published on Wed May 29, 2013 10:47 am

Transcript

RENEE MONTAGNE, HOST:

When it was revealed recently that the Justice Department had secretly seized records belonging to journalists, part of an effort to end high-profile government leaks, it sparked a huge debate about press freedom. But in one of the cases involving Fox News, there is a disagreement. Justice officials say they told Fox they were about to obtain telephone records for one of its senior reporters. The man at the center of the story has a different version of events, as NPR's David Folkenflik reports.

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Economy
2:54 am
Wed May 29, 2013

Once A Boon For Investors, House Flipping Is Back

This home in the Glassell Park neighborhood of Los Angeles was bought by Dossier Capital for $390,000, records show. It's now listed for more than $720,000.
Courtesy of Dossier Capital

Originally published on Wed May 29, 2013 10:47 am

House flipping is back.

A popular phenomenon during the housing boom, flipping is when a house is bought and sold within a six-month period. Flippers are real estate investors who buy houses, fix them up quickly and then resell them, making money off the renovation. In parts of California, it's happening at some of the fastest rates in a decade.

At a recent open house in Glassell Park, a neighborhood in northeast Los Angeles, curious buyers and neighbors streamed into a green stucco house that had just come onto the market.

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The Two-Way
7:13 pm
Tue May 28, 2013

Head Of White House Economic Council To Step Down

Alan Krueger, Chairman of the White House Council of Economic Advisers, shown in November.
Jacquelyn Martin Associated Press

Alan Krueger, the chairman of the President's Council of Economic Advisers, says he will step down to return to Princeton to resume his post as a professor of economics.

Krueger, who has served as CEA chairman for the past two years, will return to Princeton in time for the beginning of the fall term. The Associated Press quotes a source familiar with the situation as saying Jason Furman, who served in President Obama's 2008 campaign, will be tapped as a replacement.

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The Two-Way
5:25 pm
Tue May 28, 2013

Wal-Mart To Pay $81 Million For Hazardous Waste Dumping

A photo from earlier this month taken in front of a Wal-Mart store in La Habra, Calif.
Jae C. Hong Associated Press

Wal-Mart Stores has agreed to pay $81 million in penalties as part of a guilty plea on criminal charges of improperly disposing of hazardous waste in California and Missouri.

Prosecutors said the violations occurred between 2003 and 2005 and included employees negligently dumping pollutants from stores into sanitation drains.

The Associated Press reports that the plea agreements announced Tuesday "end a nearly decade-old investigation involving more than 20 prosecutors and 32 environmental groups."

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Planet Money
5:17 pm
Tue May 28, 2013

In A Single ATM, The Story Of A Nation's Economy

A bank in Yangon recently opened the first ATM in Myanmar that's connected to the rest of the world.
Lam Thuy Vo / NPR

Originally published on Tue June 4, 2013 4:35 pm

Nan Htwe Nye works at an elementary school in Yangon, Myanmar. She started trying to use ATM machines a few months ago, and things haven't been going so well.

The machines are often broken, she says. "But," she adds, "we hope it will better in the future." This is, more or less, the story of ATMs — and of banking in general — in Myanmar.

She's visiting the headquarters of CB Bank, at the first ATM in the country that was connected to banks all around the world.

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