NPR Business

Business
6:39 am
Sat February 2, 2013

The Dow's Big Day Rounds Out Big Week In Business News

Originally published on Sat February 2, 2013 3:07 pm

Transcript

SCOTT SIMON, HOST:

This is WEEKEND EDITION, from NPR News. I'm Scott Simon. And the U.S. stock market's on a tear. The Dow Jones Industrial Average closed above 14,000 yesterday, for the first time in more than five years. Investors seized on encouraging news about factory orders and auto sales. They chose to look past a report that unemployment inched up last month, too, to 7.9 percent. NPR's Scott Horsley reports.

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Economy
6:22 pm
Fri February 1, 2013

Pentagon Remains Big Target In Likely Budget Cuts

The winding down of the war in Afghanistan and efforts to slice the budget deficit will likely mean more spending cuts for the Pentagon.
AFP/Getty Images

Originally published on Fri February 1, 2013 7:17 pm

The economy shrunk in the fourth quarter — for the first time in three years — and one of the critical reasons was a drop in defense spending. Apparently, contractors took precautionary steps and held onto money in case the federal government failed to avert the fiscal and tax crisis known as the fiscal cliff.

But there's now a new deadline — automatic budget cuts, known as sequestration, which may hit at the beginning of March.

The Effect On Contractors

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The Salt
5:53 pm
Fri February 1, 2013

Where's The Beef? Burger King Finds Horsemeat In Its U.K. Patties

Originally published on Fri February 1, 2013 8:21 pm

Burger King has acknowledged this week that some of its burgers in Britain and Ireland included horsemeat, the latest development in an ongoing scandal.

Horsemeat actually contains just as much protein and far less fat than beef, according to nutritionists.

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Business
5:20 pm
Fri February 1, 2013

Pennsylvania Outdoor Sports Show Caught In Gun Debate Cross Hairs

Gun rights advocates demonstrate at the capitol in Harrisburg, Pa., on Wednesday as vendors pulled out of the city's Eastern Sports and Outdoor Show. Vendors were upset that the organizers of the event banned the sale and display of certain types of guns.
Matt Rourke AP

Originally published on Fri February 1, 2013 7:17 pm

A boycott by vendors starting this weekend at one of the nation's largest hunting and fishing shows has led to the event's indefinite postponement. Pennsylvania businesses stand to lose tens of millions of dollars in revenue.

Some 200 shops and groups pulled out of the Harrisburg, Pa., event after organizers banned the sale and display of certain types of guns.

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It's All Politics
5:16 pm
Fri February 1, 2013

Why Steven Chu Was One Of Obama's Most Intriguing Choices

Energy Secretary Steven Chu tours the Vogtle nuclear power plant in Waynesboro, Ga., last year.
David Goldman AP

Originally published on Fri February 1, 2013 5:43 pm

Of all the individuals in President Obama's first-term Cabinet, physicist Steven Chu was arguably the least likely to be found in official Washington.

The Energy Department secretary, after all, was a Nobel Prize-winning physicist from the University of California, Berkeley, the first science laureate to serve as a Cabinet secretary.

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The Two-Way
4:21 pm
Fri February 1, 2013

Dow Breaks 14,000 For First Time Since 2007

Trader Frederick Reimer works on the floor of the New York Stock Exchange on Friday.
Richard Drew AP

Originally published on Fri February 1, 2013 4:32 pm

Happy days are (or might be) here again: The Dow Jones industrial average closed above 14,000 Friday, marking the first time the stock market measure has broken that barrier at close since October 2007.

The average closed at 14,009.79. That's up more than 149 points, or about 1.1 percent for the day. The closing comes hours after the release of a new monthly unemployment report that indicated jobs grew at a faster rate late last year than previously estimated.

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Media
4:10 pm
Fri February 1, 2013

For Super Bowl Ads, More Social-Media Savvy

Deutsch LA

Originally published on Fri February 1, 2013 7:17 pm

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The Two-Way
1:13 pm
Fri February 1, 2013

Taxi! Chinese Company Finds Fair Deal In London Cab Maker

Black taxis drive down The Mall in London. A Chinese company rescued the British automaker that manufactures the famous cabs.
Pierre-Philippe Marcou AFP/Getty Images

The iconic black cabs of London got a lift Friday when a Chinese company rescued the British automaker that manufactures the taxis. Zhejiang Geely Holding Group said it will pay $17.5 million to buy Manganese Bronze Holdings, which has been making the cabs since 1899.

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Economy
12:12 pm
Fri February 1, 2013

Can A Housing Comeback Save Lagging Job Numbers?

The winter may not be over, but economists are looking to spring for good news when it comes to jobs. Host Michel Martin speaks with NPR Senior Business Editor Marilyn Geewax about whether a strengthening housing market could boost stalling jobs numbers.

Business
10:57 am
Fri February 1, 2013

Jobs Still Lag, But Homebuilding May Soon Help

A new home under construction in Pepper Pike, Ohio. This spring's jobs data could look much brighter if housing heats up.
Tony Dejak AP

Originally published on Sat February 2, 2013 4:43 pm

Here in the depths of winter, U.S. economic numbers aren't looking so hot. This week, new reports showed growth started to freeze up last fall, and the unemployment rate rose a bit in January, to 7.9 percent.

But most economists say you shouldn't let those cold facts fool you: This spring's data could look much brighter if the housing market continues to heat up.

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