NPR Business

The Two-Way
3:28 pm
Fri January 11, 2013

Computer Users Should Disable Java 7 Owing To Security Flaw, Experts Say

Originally published on Fri January 11, 2013 5:43 pm

Millions of computer users who run the most recent versions of Oracle's Java software should disable the product owing to security flaws, says the cybersecurity section of the Department of Homeland Security. The agency says, "Web browsers using the Java 7 plug-in are at high risk."

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Economy
11:55 am
Fri January 11, 2013

New Mortgage Rules Not A Fix All

The Consumer Financial Protection Bureau released new rules for mortgages this week. But neither the banking industry, nor consumer groups are completely happy. Host Michel Martin gets a sense of the current state of mortgages and foreclosures with real estate columnist Ilyce Glink and Keli Goff, political correspondent for The Root.

Shots - Health News
10:44 am
Fri January 11, 2013

Merck Halts Sale Of Niacin Drug In 40 Countries

Tredaptive, a booster of good cholesterol, is dead.
iStockphoto.com

Originally published on Fri January 11, 2013 11:29 am

Drugmaker Merck just stuck a fork in a vitamin-based drug to prevent heart disease and stroke.

The company is withdrawing Tredaptive, a long-acting pill combining niacin (No. 3 in the long list of B vitamins) and laropiprant, a chemical that reduces the unpleasant skin flushing caused by high doses of niacin.

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The Two-Way
7:21 am
Fri January 11, 2013

Reports: FAA To Order Review Of Boeing 787 Dreamliner

The interior of a United Airlines Boeing 787 Dreamliner.
Kevork Djansezian Getty Images

Originally published on Fri January 11, 2013 1:05 pm

Update at 9:42 a.m. ET. Review Ordered:

Saying that "we are confident about the safety of this aircraft, but we are concerned about these incidents," Federal Aviation Administration Administrator Michael Huerta confirmed Friday morning that his agency has ordered a review of Boeing's new 787 Dreamliner after a series of problems in recent days, including fuel leaks and an electrical fire.

The planes are not being grounded. Boeing says it welcomes the review and is confident in the aircraft's safety.

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Business
7:02 am
Fri January 11, 2013

Looking Back On Bank Of America's Countrywide Debacle

Originally published on Fri January 11, 2013 8:35 am

Transcript

STEVE INSKEEP, HOST:

Five years ago today, Bank of America announced it was buying the troubled subprime mortgage lender Countrywide Financial for $40 billion. At the time, the financial crisis had not fully revealed itself, and many people thought Bank of America was getting a good deal. Instead, the acquisition has turned into a never-ending legal and financial nightmare. NPR's Jim Zarroli reports.

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Business
5:55 am
Fri January 11, 2013

AmEx Travel Section Bears The Brunt Of Layoffs

Originally published on Fri January 11, 2013 8:35 am

Transcript

STEVE INSKEEP, HOST:

Heading in the other direction, American Express says it plans to lay off more than 5,000 workers in the coming year. These unexpected cuts come despite a strong holiday sales season.

NPR's Kirk Siegler reports.

KIRK SIEGLER, BYLINE: All told, the layoffs will account for about eight percent of American Express's entire workforce - most from the company's global travel business.

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Europe
5:55 am
Fri January 11, 2013

Spain's Banks Face Layoffs, New Regulations

Originally published on Fri January 11, 2013 8:35 am

Transcript

RENEE MONTAGNE, HOST:

One of Spain's most troubled banks announced, this week, that it's laying off half of its staff - after being sold to a competitor for just one euro. Crippled by the housing market's collapse, Spanish banks are living off bailout loans from Europe. Those loans come with strings attached, including massive layoffs and strict new regulatory measures by Spain's central bank.

From Madrid, Lauren Frayer explains.

(SOUNDBITE OF MUSIC)

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Business
5:55 am
Fri January 11, 2013

International Twitter War Becomes An Opera

Originally published on Fri January 11, 2013 8:35 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is being set to music. Truth really is stranger than fiction, which is how a TV interview with President Richard Nixon could become a famous play, and how The New Yorker writer Lawrence Wright could create a forthcoming play on the Camp David accords. Now, an international Twitter war is becoming an opera.

RENEE MONTAGNE, HOST:

Last summer, The New York Times columnist Paul Krugman criticized the economic austerity of Estonia.

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Business
5:55 am
Fri January 11, 2013

Business News

Originally published on Fri January 11, 2013 8:35 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with new jobs at Ford.

Ford announced today, that it plans to hire more than 2,200 white collar workers here in the U.S. The jobs will center around product development, manufacturing and IT. This continues an upswing in hiring at Ford. It added over 8,000 U.S. jobs last year. And yesterday, the automaker doubled its quarterly dividend to the highest level in seven years. Transcript provided by NPR, Copyright National Public Radio.

Planet Money
3:46 am
Fri January 11, 2013

Black Market Pharmacies And The Big Business Of Spam

Acne medicine, in Turkish.
Dave Keck

Originally published on Fri January 11, 2013 8:35 am

An apparent feud between two black market pharmacies has shed light on a shady global industry.

"Rx-Promotion and SpamIt probably are responsible for upward of 50 or 60 percent of spam that you and I got in our inboxes over the last five years," said Brian Krebs, a cyber-security reporter who chronicled the alleged feud on his website. "It's just a ridiculous amount of problems that these two guys cause for everybody."

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