NPR Business

Africa
3:39 am
Thu January 24, 2013

Algeria Attack A 'Wake-Up Call' For Energy Companies

Originally published on Thu January 24, 2013 1:19 pm

A week has passed since the terrorist attack on a natural gas facility in Algeria, but risk analysts and security experts are still undecided about the incident's likely impact in the energy world.

The price of oil, a good indicator of anxiety in the energy market, went up modestly right after the attack, but then it stabilized. No energy company has suspended operations in Algeria, nor has any company announced it will hold off on future investments in North Africa, a key source of oil and gas supplies.

Read more
Planet Money
3:35 am
Thu January 24, 2013

Why Is The Government In The Flood Insurance Business?

Hurricane Betsy hit the Gulf Coast in 1965.
Horace Cort AP

Originally published on Thu January 24, 2013 1:19 pm

There's a quick, one-word explanation for why the federal government started selling flood insurance: Betsy.

Hurricane Betsy, which struck the Gulf Coast in 1965, became known as billion-dollar Betsy. Homes were ruined. Water up to the roofs. People paddling around streets in boats. Massive damage.

This would be the time when you'd expect people to be pulling out their flood insurance policies. But flood insurance was hard to come by. You could get fire insurance, theft insurance, car insurance, life insurance. Not flood.

Read more
Business
5:50 pm
Wed January 23, 2013

Dreamliner Woes Expose FAA's Potential Weak Spots

National Transportation Safety Board investigators inspect a Boeing 787 Dreamliner at Japan's Takamatsu Airport. A Federal Aviation Administration investigation into the plane's troubles has widened into a review of the agency's certification process for new airliners.
Jiji Press AFP/Getty Images

Originally published on Wed January 23, 2013 8:53 pm

One week after Federal Aviation Administration officials grounded Boeing's newest jet, the world's entire 787 Dreamliner fleet remains parked. FAA Administrator Michael Huerta said Tuesday he couldn't speculate on when a review of the plane would be complete.

Investigators in the U.S. and Japan remain perplexed as to why batteries on two planes suffered serious failures. Now Boeing, its flagship jet and the certification process for the 787 are under intense scrutiny.

Read more
Superstorm Sandy: Before, During And Beyond
5:12 pm
Wed January 23, 2013

In Lower Manhattan, Sandy Still Keeping Businesses Dark

People walk past a closed business affected by Hurricane Sandy in the heavily damaged South Street Seaport in New York City in December.
Spencer Platt Getty Images

Originally published on Wed January 23, 2013 8:53 pm

When compared with its neighbors Coney Island and the Rockaways, Manhattan seemed hardly touched by the waters and winds of Superstorm Sandy in late October. But almost three months later, areas of lower Manhattan are still laboring to recover.

Earlier this month, a museum devastated by Sandy finally reopened. About 800 people packed the lobby and upstairs galleries of the South Street Seaport Museum in lower Manhattan as Mayor Michael Bloomberg addressed the crowd.

Read more
The Two-Way
12:34 pm
Wed January 23, 2013

Union Membership Continues Decline; Now At Lowest Level Since 1930s

The Bureau of Labor Statistics says union membership continues to decline in the United States.

In 2012, American Union membership rate dropped to 11.3 percent from 11.8 percent in 2011. As The Washington Post reports, that's the lowest level since the 1930s.

Read more
The Two-Way
9:36 am
Wed January 23, 2013

U.K.'s Cameron Floats Idea Of Vote ON E.U. Membership, Other Leaders Protest

British Prime Minister David Cameron earlier today in London as he spoke about a vote on E.U. membership.
Oli Scarff Getty Images

"Britain's prime minister said Wednesday he will offer citizens a vote on whether to leave the European Union if his party wins the next election, prompting warnings from fellow member states about the soundness of such a move," The Associated Press writes.

The wire service adds that:

"Cameron proposed Wednesday that his Conservative Party renegotiate the U.K.'s relationship with the European Union if it wins the next general election, expected in 2015.

Read more
Politics
5:26 am
Wed January 23, 2013

House To Vote On Short-Term Debt Ceiling Extension

Originally published on Wed January 23, 2013 8:13 am

The House is expected to vote Wednesday on a Republican leadership plan to put off the debt ceiling fight for three months. This marks a new strategy for House Republicans who until recently had pledged not to raise the debt ceiling unless it was matched with an equal amount of spending cuts.

Business
5:14 am
Wed January 23, 2013

Fla. Tomato Growers Say Mexico Trade Deal Is Rotten

J. Pat Carter AP

Originally published on Wed January 23, 2013 11:01 am

Half of all tomatoes eaten in the U.S. come from Mexico, and tomato growers in Florida aren't happy about that. In fact, they're willing to risk a trade war to reverse the trend.

At JC Distributing In Nogales, Ariz., one misstep and you're likely to get knocked over by a pallet full of produce. Forklifts crisscross each other carrying peppers, squash and especially tomatoes from trucks backed into the warehouse loading dock.

"This is a Mexican truck being unloaded," says JC President Jaime Chamberlain. "He's just waiting for his paperwork to get back."

Read more
Business
5:14 am
Wed January 23, 2013

Nebraska Approves Keystone XL Pipeline's Tweaked Route

Originally published on Wed January 23, 2013 8:13 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with pipeline plans.

(SOUNDBITE OF MUSIC)

MONTAGNE: Nebraska's governor has approved a new plan for where the controversial Keystone XL pipeline will pass through his state. In 2011, the governor opposed the pipeline for its potential environmental impact. Yesterday, he wrote a letter to President Obama saying the new route avoids the more environmentally fragile parts of Nebraska.

It now falls to the Obama administration to approve the project. Transcript provided by NPR, Copyright NPR.

Economy
5:14 am
Wed January 23, 2013

Is Eurozone's Debt Crisis Over?

Originally published on Wed January 23, 2013 8:13 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

Some European leaders have been sounding downright upbeat in recent days about the state of their economy, which makes this morning's speech by Britain's prime minister all the more dramatic.

Read more

Pages