Jim Zarroli http://delmarvapublicradio.net en Once-Thriving Heart Of The Eurozone Stagnates http://delmarvapublicradio.net/post/once-thriving-heart-eurozone-stagnates <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Once-Thriving+Heart+Of+The+Eurozone+Stagnates&utme=8(APIKey)9(MDAxODM0MTAzMDEyMTY4NDEzNjUxZmMzYQ004)"/></div><p>Transcript <p>MELISSA BLOCK, HOST: <p>This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.<p>ROBERT SIEGEL, HOST: <p>And I'm Robert Siegel. Fighting in Ukraine, sanctions on Russia and unhealed wounds from the financial crisis. It's not a good mix for the global economy. Thu, 14 Aug 2014 20:09:00 +0000 Jim Zarroli 59518 at http://delmarvapublicradio.net White House Seeks Ways To Go It Alone In Keeping Companies Stateside http://delmarvapublicradio.net/post/white-house-seeks-ways-go-it-alone-keeping-companies-stateside <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=White+House+Seeks+Ways+To+Go+It+Alone+In+Keeping+Companies+Stateside&utme=8(APIKey)9(MDAwODM4NDIzMDEzMjM4NzEyMDkwNThkNQ004)"/></div><p>Transcript <p>AUDIE CORNISH, BYLINE: President Obama says he's looking for ways to stop the spread of corporate inversions. Here's how they work. A U.S. corporation merges with a smaller foreign company, then moves its legal headquarters overseas to lower its tax rate. Thu, 07 Aug 2014 20:19:00 +0000 Jim Zarroli 59121 at http://delmarvapublicradio.net Obama Touts Improved Climate For U.S. Businesses http://delmarvapublicradio.net/post/obama-touts-improved-climate-us-businesses <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Obama+Touts+Improved+Climate+For+U.S.+Businesses&utme=8(APIKey)9(MDA5NjA1MTgyMDEzMzk3ODE2ODgwOGQyMQ004)"/></div><p>Transcript <p>DAVID GREENE, HOST: <p>Let's hear about one area where President Obama's been trying to defend his record. Many corporate leaders complain that the president's been anti-business during his time in office. Not so, Obama said in an interview with The Economist Magazine. Tue, 05 Aug 2014 09:15:00 +0000 Jim Zarroli 58948 at http://delmarvapublicradio.net Sanctions Target Russian Oil, But Will That Persuade Putin? http://delmarvapublicradio.net/post/sanctions-target-russian-oil-will-persuade-putin Both the United States and Europe announced <a href="http://www.npr.org/blogs/thetwo-way/2014/07/29/336324858/white-house-threatens-more-russian-sanctions-as-kerry-decries-ukrainian-rebels">new economic sanctions</a> this week against Russia for its role in the conflict in Ukraine. Sat, 02 Aug 2014 15:23:00 +0000 Jim Zarroli 58829 at http://delmarvapublicradio.net Sanctions Target Russian Oil, But Will That Persuade Putin? Argentina Is In Default. What Does That Actually Mean? http://delmarvapublicradio.net/post/argentina-default-what-does-actually-mean <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Argentina+Is+In+Default.+What+Does+That+Actually+Mean%3F&utme=8(APIKey)9(MDA4MjMxOTIyMDEzMTcxNjAzMzFmMjBhZQ001)"/></div><p>Transcript <p>LINDA WERTHEIMER, HOST: <p>The financial markets in Argentina are expected to endure some battering today after the country fell into default for the second time in more than 12 years. Thu, 31 Jul 2014 09:29:00 +0000 Jim Zarroli 58677 at http://delmarvapublicradio.net Late Rally From Argentina Fails To Delay Default http://delmarvapublicradio.net/post/big-banks-rally-argentina-debt-deadline Talks aimed at resolving Argentina's debt crisis have broken down in New York. A court-appointed mediator has declared that the country will go into default. It is the second time the country has defaulted in about 12 years.<p>With a midnight deadline looming, the government and its creditors walked away without a deal late Wednesday.<p>Argentina has been waging a protracted legal battle with a small number of bondholders. Wed, 30 Jul 2014 20:08:00 +0000 Jim Zarroli & NPR Staff 58656 at http://delmarvapublicradio.net Late Rally From Argentina Fails To Delay Default International Court Rules Against Russia In $50 Billion Decision http://delmarvapublicradio.net/post/international-court-rules-against-russia-50-billion-decision Russia says it will appeal an unfavorable decision by a court in The Hague. The Permanent Court of Arbitration awarded $50 billion to shareholders of the defunct Yukos oil company. Russia seized the company in 2003 and put owner Mikhail Khodorkovsky in jail on tax and fraud charges. <div class="fullattribution">Copyright 2014 NPR. Mon, 28 Jul 2014 21:05:00 +0000 Jim Zarroli 58534 at http://delmarvapublicradio.net Locked In U.S. Hedge Fund Battle, Argentina Faces Default http://delmarvapublicradio.net/post/locked-us-hedge-fund-battle-argentina-faces-default <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Locked+In+U.S.+Hedge+Fund+Battle%2C+Argentina+Faces+Default&utme=8(APIKey)9(MDA2NDA4NzY1MDEyODkzMjYyNTkxZjFiZQ004)"/></div><p>Transcript <p>RENEE MONTAGNE, HOST: <p>This is MORNING EDITION from NPR News. I'm Renee Montagne.<p>LINDA WERTHEIMER, HOST: <p>And I'm Linda Wertheimer. The nation of Argentina could default this week on billions of dollars of debt. It would be the second time Argentina has defaulted in less than 15 years. Mon, 28 Jul 2014 09:55:00 +0000 Jim Zarroli 58489 at http://delmarvapublicradio.net How High Debt From The Housing Collapse Still Stifles Our Economy http://delmarvapublicradio.net/post/how-high-debt-housing-collapse-still-stifles-our-economy "Foreclosure, foreclosure, foreclosure."<p>Real estate broker John Susani drives down a Paterson, N.J., street where every third house seems to be abandoned or boarded up. During the boom years, money flooded into Paterson.<p>"The banking industry allowed everyone to be a homeowner; they gave mortgages to people [just because they were] breathing," Susani says.<p>In some cases, he says, home prices jumped as much as 50 percent. The homes on these streets aren't worth nearly that much anymore.<p>Seven years after the subprime mortgage crisis, U.S. Thu, 24 Jul 2014 10:13:00 +0000 Jim Zarroli 58290 at http://delmarvapublicradio.net How High Debt From The Housing Collapse Still Stifles Our Economy Treasury Secretary Calls For Corporate Tax Code Overhaul http://delmarvapublicradio.net/post/treasury-secretary-calls-corporate-tax-code-overhaul Transcript <p>RENEE MONTAGNE, HOST: <p>U.S. Treasury Secretary Jacob Lew says, there has been an uptick in the number of U.S. corporations moving their headquarters overseas in an effort to pay less tax. In a moment, we'll talk to David Wessel about what's allowing these moves to happen. We begin with NPR's Jim Zarroli.<p>JIM ZARROLI, BYLINE: In recent months there's been a small wave of U.S. companies doing what are called inversions - they merge with a foreign company and then move their legal headquarters overseas. Thu, 17 Jul 2014 09:55:00 +0000 Jim Zarroli 57907 at http://delmarvapublicradio.net Citigroup Agrees To $7 Billion Fine For 'Egregious' Misconduct http://delmarvapublicradio.net/post/citigroup-agrees-7-billion-fine-egregious-misconduct Citigroup has agreed to pay $7 billion to settle claims that it committed fraud when it sold mortgage-backed securities in the years leading up to the financial crisis. Most of the money will be paid to the U.S. Treasury, but some will be used to provide mortgage relief to struggling homeowners. Mon, 14 Jul 2014 20:15:00 +0000 Jim Zarroli 57748 at http://delmarvapublicradio.net Citigroup Settles Subprime Mortgage Case For $7 Billion http://delmarvapublicradio.net/post/citigroup-settles-subprime-mortgage-case-7-billion Transcript <p>STEVE INSKEEP, HOST: <p>Citigroup has agreed to settle allegations that it defrauded investors in the years leading up to the financial crisis. The settlement requires Citigroup to pay $7 billion. Two and a half billion will go toward mortgage relief for homeowners. Now, this settlement involves mortgage-backed securities the bank packaged and sold to investors, and it was announced this morning by U.S. Attorney General Eric Holder. We're going to talk this through with NPR's Jim Zarroli who's on the line. Mon, 14 Jul 2014 16:34:00 +0000 Jim Zarroli 57721 at http://delmarvapublicradio.net With Default 23 Days Away, A Little Clause Could Cost Argentina Big http://delmarvapublicradio.net/post/default-23-days-away-little-clause-could-cost-argentina-big Transcript <p>ROBERT SIEGEL, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.<p>MELISSA BLOCK, HOST: <p>And I'm Melissa Block. The clock is ticking for Argentina. Yes, in the World Cup, but here, we're talking about its effort to prevent another debt crisis. Argentina has until the end of this month to pay its bondholders or it risks going into default. Tue, 08 Jul 2014 20:13:00 +0000 Jim Zarroli 57384 at http://delmarvapublicradio.net Report Shows 288,000 New Jobs In June http://delmarvapublicradio.net/post/report-shows-288000-new-jobs-june Transcript <p>RENEE MONTAGNE, HOST: <p>This is MORNING EDITION from NPR News. I'm Renee Montagne.<p>DAVID GREENE, HOST: <p>And I'm David Greene. Good morning. We begin this hour with more positive signs about the nation's economy. The Labor Department this morning said the U.S. unemployment rate fell to its lowest level in nearly six years last month, and employers added some 288,000 jobs to their payrolls. Here's NPR's Jim Zarroli.<p>JIM ZARROLI, BYLINE: The job growth was spread across the economy in business services, retail trade, manufacturing and even government hiring. Thu, 03 Jul 2014 15:14:00 +0000 Jim Zarroli 57128 at http://delmarvapublicradio.net Before The Holiday Weekend, Latest Jobless Report Is Issued http://delmarvapublicradio.net/post/holiday-weekend-latest-jobless-report-issued Transcript <p>DAVID GREENE, HOST: <p>We'll get an important snapshot of the U.S. economy today. The job market in this country has been racking up some healthy gains over the past few months. That trend is expected to continue. We'll find out if it does when the Labor Department releases its monthly jobs report later this morning. Here's a preview from NPR's Jim Zarroli.<p>JIM ZARROLI, BYLINE: The job market hit something of a milestone last month, employers added 217,000 jobs to their payrolls. Thu, 03 Jul 2014 10:07:00 +0000 Jim Zarroli 57107 at http://delmarvapublicradio.net French Bank To Pay $8.83 Billion In Sanctions Probe http://delmarvapublicradio.net/post/french-bank-pay-883-billion-sanctions-probe Transcript <p>RENEE MONTAGNE, HOST: <p>This morning, top executives at France's largest bank, BNP Paribas, reassured investors that they have enough cash to pay a $9 billion penalty to the U.S. government. Late yesterday, the bank agreed to plead guilty to violating U.S. sanctions laws and accepted that $9 billion fine. It's the largest penalty ever imposed by the U.S. government for sanctions violations. The bank admitted it helped clients in Sudan and other countries evade U.S. trade embargoes through its New York office. And the U.S. Tue, 01 Jul 2014 09:21:00 +0000 Jim Zarroli 56966 at http://delmarvapublicradio.net BNP Paribas Agrees To Nearly $9 Billion Fine And Admission Of Guilt http://delmarvapublicradio.net/post/bnp-paribas-agrees-9-billion-fine-and-admission-guilt Transcript <p>MELISSA BLOCK, HOST: <p>Banking giant BNP Paribas has agreed to pay American regulators nearly $9 billion dollars to settle charges of economic sanctions violations. It's the largest such fine ever imposed by the U.S. The bank will plead guilty to two criminal charges. It was accused of helping clients in Sudan, Cuba and Iran conduct business in the United States. NPR's Jim Zarroli reports.<p>JIM ZARROLI, BYLINE: The charges were brought after a lengthy investigation that involved the Justice Department, the Federal Reserve and banking regulators in New York state. Mon, 30 Jun 2014 22:20:00 +0000 Jim Zarroli 56955 at http://delmarvapublicradio.net Bitter Debt Fight Between Argentina And U.S. Set To Reach Climax http://delmarvapublicradio.net/post/bitter-debt-fight-between-argentina-and-us-set-reach-climax Transcript <p>AUDIE CORNISH, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.<p>MELISSA BLOCK, HOST: <p>And I'm Melissa Block. For most of the last 14 years, Argentina has been locked in a bitter fight over how much has to pay its international creditors. On Monday, that battle will come to a head. That's the deadline the U.S. Supreme Court set for Argentina to pay off some U.S. hedge funds that had bought its bonds. Argentina says the payments could ruin the country. Fri, 27 Jun 2014 20:07:00 +0000 Jim Zarroli 56819 at http://delmarvapublicradio.net U.S. Tip-Toes Closer To Unprecedented Fine On French Banking Giant http://delmarvapublicradio.net/post/us-tip-toes-closer-unprecedented-fine-french-banking-giant Transcript <p>AUDIE CORNISH, HOST: <p>U.S. officials are close to a multibillion-dollar settlement with the giant, French bank BNP Pariba over allegations of sanctions violations. The bank is expected to admit that its affiliates did business with countries subject to U.S. economic sanctions - Sudan, Cuba and Iran. NPR's Jim Zarroli reports.<p>JIM ZARROLI, BYLINE: Regulators are still in talks with BNP Pariba, and no resolution is expected before early next week. Mon, 23 Jun 2014 20:07:00 +0000 Jim Zarroli 56524 at http://delmarvapublicradio.net U.S.-Foreign Mergers Raise Calls For Tax Reforms http://delmarvapublicradio.net/post/us-foreign-mergers-raise-calls-tax-reforms This week the big medical device company Medtronic said it was moving its legal headquarters from Minneapolis to Ireland. It's part of a $43 billion merger with another medical company, Dublin-based Covidien.<p>The move is a tax-saving strategy called an inversion and it's growing more common in the corporate world.<p>U.S. Fri, 20 Jun 2014 21:45:00 +0000 Jim Zarroli 56410 at http://delmarvapublicradio.net U.S.-Foreign Mergers Raise Calls For Tax Reforms Lightning-Fast Trades Go Beneath The Congressional Microscope http://delmarvapublicradio.net/post/lightning-fast-trades-go-beneath-congressional-microscope The Senate Permanent Subcommittee on Investigations is holding a hearing on problems in the financial markets caused by high-frequency trading firms. Tue, 17 Jun 2014 20:06:00 +0000 Jim Zarroli 56198 at http://delmarvapublicradio.net Once A GOP Pillar, Chamber Of Commerce Is Now A Lightning Rod http://delmarvapublicradio.net/post/once-gop-pillar-chamber-commerce-now-lightning-rod The Chamber of Commerce says it tried to help Eric Cantor in his primary campaign, but Cantor refused the offer. Thu, 12 Jun 2014 23:44:00 +0000 Jim Zarroli 55934 at http://delmarvapublicradio.net Political Rhetoric Bogs Down Future Of Keystone XL Pipeline http://delmarvapublicradio.net/post/political-rhetoric-bogs-down-future-keystone-xl-pipeline Transcript <p>RENEE MONTAGNE, HOST: <p>It's MORNING EDITION from NPR News. I'm Renee Montagne.<p>STEVE INSKEEP, HOST: <p>And I'm Steve Inskeep. Good morning. Last month the Obama administration put off a decision on whether to approve the Keystone XL pipeline. The project has been enormously controversial. It would carry crude oil from Canada to the Gulf of Mexico. This morning we examine what's at stake for the oil industry and for energy production. Fri, 23 May 2014 11:07:00 +0000 Jim Zarroli 54745 at http://delmarvapublicradio.net AT&T And DirecTV Mega-Merger Spells Changes For Media Landscape http://delmarvapublicradio.net/post/att-and-directv-mega-merger-spells-changes-media-landscape Transcript <p>AUDIE CORNISH, HOST: <p>Federal regulators are facing a decision on whether to allow another big media merger. This time, it's AT&T and DirecTV. Yesterday, the board of AT&T voted to acquire the satellite television company in a deal worth almost $50 billion. NPR's Jim Zarroli reports that the hope is to be a stronger competitor against the likes of Verizon and Comcast.<p>JIM ZARROLI, BYLINE: Like other big media companies, AT&T has been desperately trying to tell the future of the media business and get ready for it. Mon, 19 May 2014 20:16:00 +0000 Jim Zarroli 54500 at http://delmarvapublicradio.net Crowdfunding Can Help Build Business, But At What Cost? http://delmarvapublicradio.net/post/crowdfunding-can-help-build-business-what-cost Entrepreneur Andy Krafsur raised money for Spira Footwear by reaching out to friends and family. But that was a dozen years ago. After the economy tanked, the common tactic became a lot more difficult.<p>"The pool of people that you can go to has shrunken significantly," Krafsur says, "and everybody goes to those same people."<p>Then Krafsur found a crowdfunding website that helped his cash flow enormously. Fri, 09 May 2014 09:36:00 +0000 Jim Zarroli 53924 at http://delmarvapublicradio.net Crowdfunding Can Help Build Business, But At What Cost? Alibaba IPO Could Be The Biggest Ever http://delmarvapublicradio.net/post/alibaba-ipo-could-be-biggest-ever Alibaba is the biggest e-commerce player in China. The Internet conglomerate is filing papers in the U.S. for what could be the biggest IPO ever. Tue, 06 May 2014 21:34:00 +0000 Jim Zarroli 53808 at http://delmarvapublicradio.net Buffett Defends Coke Position At Berkshire Hathaway Meeting http://delmarvapublicradio.net/post/buffett-defends-coke-position-berkshire-hathaway-meeting Warren Buffett is under fire for not opposing Coca-Cola's executive compensation plan more aggressively. Buffett spoke about his decision at a shareholder meeting for his company Berkshire Hathaway. Mon, 05 May 2014 09:00:00 +0000 Jim Zarroli 53682 at http://delmarvapublicradio.net After Bangladesh Factory Disaster, Efforts Show Mixed Progress http://delmarvapublicradio.net/post/after-bangladesh-factory-disaster-efforts-show-mixed-progress One year ago Thursday, an eight-story factory building in the Bangladesh capital of Dhaka collapsed, killing more than 1,100 workers. The disaster at Rana Plaza brought new attention to safety conditions in the country's booming garment industry.<p>In the year since then, some of the world's biggest retailers have begun inspecting Bangladesh's factories more aggressively. But in other ways efforts to reform the industry have fallen short.<p>When sewing machine operator Aklima Khanam arrived at Rana Plaza on April 24, 2013, some of her coworkers were milling around outside. Thu, 24 Apr 2014 07:37:00 +0000 Jim Zarroli 53086 at http://delmarvapublicradio.net After Bangladesh Factory Disaster, Efforts Show Mixed Progress Blockbuster Trades Are Changing The Face Of Pharmaceuticals http://delmarvapublicradio.net/post/blockbuster-trades-are-changing-face-pharmaceuticals Transcript <p>MELISSA BLOCK, HOST: <p>The pharmaceutical industry is undergoing some sweeping changes so the past few days, some major deals have been announced. The first involving a trio of big named companies: GlaxoSmithKline, Novartis and Ely Lily. The second is a proposed deal between Quebec-based Valeant Pharmaceuticals and California's Allergan, the maker of Botox. That deal is valued at $45 billion. NPR's Jim Zarroli reports.<p>JIM ZARROLI, BYLINE: In the drug business, Valeant is known for spending little money on researching new drugs. Wed, 23 Apr 2014 20:01:00 +0000 Jim Zarroli 53065 at http://delmarvapublicradio.net IPO Market Shows Signs Of Strain http://delmarvapublicradio.net/post/ipo-market-shows-signs-strain Transcript <p>DAVID GREENE, HOST: <p>All right, Virtu Financial has reportedly decided to postpone its initial public offering. The decision comes during a week when several IPOs in U.S. markets had disappointing debuts. Virtu conducts high-frequency electronic trading on various exchanges and scrutiny of high-speed trading is growing.<p>NPR's Jim Zarroli reports.<p>JIM ZARROLI, BYLINE: New York-based Virtu Financial is one of the most profitable high-frequency trading firms around and one of the biggest. It was supposed to go public this month and was hoping to raise as much as $250 million. Fri, 18 Apr 2014 10:23:00 +0000 Jim Zarroli 52754 at http://delmarvapublicradio.net