NPR Business

Business
5:08 am
Tue January 1, 2013

Tribune Co. Moves Toward Entertainment, Cable TV

Originally published on Tue January 1, 2013 9:44 am

Transcript

DAVID GREENE, HOST:

The Chicago-based Tribune Company, the corporate owner of the L.A. Times, Chicago Tribune, Baltimore Sun and 23 local TV stations, emerged from bankruptcy yesterday after a messy four-year process.

As NPR's David Folkenflik reports, Tribune's future may look very different from its newsy past.

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Law
3:00 am
Tue January 1, 2013

Justice Wants Banks To Be Quasi Cops

Assistant U.S. Attorney General Lanny Breuer announces a nearly $2 billion money laundering settlement with British bank HSBC on Dec. 11 in New York City.
Ramin Talaie Getty Images

Originally published on Tue January 1, 2013 9:44 am

Every year, banks handle tens of millions of transactions. Some of them involve drug money, or deals with companies doing secret business with countries like Iran and Syria, in defiance of trade sanctions.

But if the Justice Department has its way, banks will be forced to change — to spot illegal transactions and blow the whistle before any money changes hands.

Federal prosecutors have already collected more than $4.5 billion from some of the world's biggest financial institutions — banks charged with looking the other way when dirty money passed through their accounts.

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Business
2:57 am
Tue January 1, 2013

New Year Brings Minimum-Wage Hikes In 10 States

Rhode Island's minimum wage will increase from $7.40 to $7.75.
iStockphoto.com

Originally published on Tue January 8, 2013 2:23 pm

On Tuesday, the minimum wage in 10 states will increase by anywhere from a dime to 35 cents.

For all of the states but one, the pay hikes are part of automatic adjustments designed to keep up with the cost of living.

In Rhode Island, it took a state law to raise the minimum wage for the first time in five years.

Rising Wages Vs. Rising Prices

Cafe Zog in Providence is a cozy, quirky place where you can grab a coffee and bagel to go, or nab a booth then head to the counter to order a hot breakfast.

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Business
2:56 am
Tue January 1, 2013

Rift With China Clouds Solar Industry's Future

Solar panels come off the line at SunPower's solar manufacturing plant near San Jose, Calif.
Lauren Sommer for NPR

Originally published on Tue January 1, 2013 9:44 am

It's been a banner year for solar energy. The United States is on track to install a record number of solar power systems — thanks in large part to low-cost solar panels from China. That's been challenging for American manufacturers, and federal officials have put trade tariffs on Chinese panels.

Things look busy at the SunPower solar manufacturing plant in Silicon Valley. Workers are screwing frames onto shiny, 6-foot solar panels as they come off the line.

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Business
2:40 am
Tue January 1, 2013

'Fiscal Cliff' Statement From President Obama

Originally published on Wed January 2, 2013 11:16 am

The White House released this statement from President Obama at 2:30 a.m. on Tuesday:

Leaders from both parties in the Senate came together to reach an agreement that passed with overwhelming bipartisan support today that protects 98 percent of Americans and 97 percent of small business owners from a middle class tax hike. While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country and the House should pass it without delay.

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Business
4:12 pm
Mon December 31, 2012

All Eyes Are On The Fiscal Cliff, But The Dairy Cliff Is Important Too

Originally published on Mon December 31, 2012 7:55 pm

Transcript

ROBERT SIEGEL, HOST:

Amid all the talk of going over the fiscal cliff, we have a report now on another midnight deadline tonight. Few were paying attention when Congress failed to pass the Farm Bill last fall. But now lawmakers are scrambling to extend the law for a year, to dodge a spike in milk prices. While an agreement is in the works, another vote is necessary, and none is scheduled yet. Peggy Lowe of member station KCUR in Kansas City explains how farmers, processors and consumers ended up at what is being called the dairy cliff.

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Economy
11:50 am
Mon December 31, 2012

Is Our Economy Better Than Theirs?

The countdown is on to a new year — and the fiscal changes that are on the other side of midnight. But what else is on the cards economically for 2013, both here and overseas? Guest host Celeste Headlee puts the question to the Wall Street Journal's Sudeep Reddy.

Business
5:48 am
Mon December 31, 2012

Best Car Deals To Be Found This Time Of Year

Transcript

STEVE INSKEEP, HOST:

We are in a great season to buy a car. Automakers and dealers are offering lots of incentives. And those incentives are just one of the factors in what may end up as the best year for the auto industry since 2007, before the height of the financial crisis. So why has it been a good year? Well, when millions of people hold off on their car purchases for years, that pent up demand, along with cheap credit, will eventually drive stronger sales.

Here's NPR's Sonari Glinton.

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Economy
5:46 am
Mon December 31, 2012

Hours Left To 'Fiscal Cliff' Deadline

Originally published on Mon December 31, 2012 6:43 am

Transcript

STEVE INSKEEP, HOST:

On the final day of the year, it's MORNING EDITION from NPR News. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene.

We still do not know if taxes will be going up as the ball in New York City's Times Square goes down.

INSKEEP: Congressional negotiators are still discussing ways at the White House to avoid the higher tax rates and spending cuts due to take effect after midnight tonight.

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Economy
4:15 am
Mon December 31, 2012

Europe Fails To Stimulate Growth In 2012

Originally published on Mon December 31, 2012 12:52 pm

The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.

The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.

The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.

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