Business

Asia
5:08 am
Fri November 14, 2014

To Lure Investors And Move Money, China Links Two Stock Markets

Floor traders study stock prices in the Hong Kong Stock Exchange in 2013.
Kin Cheung AP

Originally published on Fri November 14, 2014 5:14 pm

Investors in Shanghai's stock market will for the first time on Monday be able to invest directly across the border in Hong Kong's Hang Seng stock exchange and vice versa.

The new system, called the Shanghai-Hong Kong Stock Connect, will give foreign investors direct access to Shanghai's so-called A shares, including many blue chip, state-owned companies.

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Business
5:43 pm
Thu November 13, 2014

As Casinos Fold, Stakes Are High For Atlantic City Transformation

Atlantic City Mayor Don Guardian stands in front of an outdoor goods store under construction. The state's Casino Reinvestment Development Authority contributed land and $12 million for the project.
Rob Szypko NPR

Originally published on Fri November 14, 2014 6:46 pm

In gambling, they say, the house always wins. But that hasn't been the case in Atlantic City this year. By year's end, the city that once had an East Coast monopoly on gaming may lose its fifth casino.

The city is reeling from the closures. New Jersey Gov. Chris Christie said Thursday that the first order of business is to "stop the bleeding." So city and state officials are trying to reposition Atlantic City by literally building it up.

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The Two-Way
7:37 am
Thu November 13, 2014

Congress Will Vote On Keystone XL Pipeline, With An Eye On Louisiana

Sen. Mary Landrieu, D-La., chair of the Senate energy committee, spoke Wednesday about getting congressional approval for the Canada-to-Texas Keystone XL pipeline. With her is Sen. Joe Manchin, D-W.Va., a member of the committee.
J. Scott Applewhite AP

Originally published on Thu November 13, 2014 11:19 am

Two bills that would authorize building the controversial Keystone XL pipeline will soon come to a vote in Congress, as their sponsors — Sen. Mary Landrieu, D-La., and Rep. Bill Cassidy, R-La. — head toward a runoff election next month to decide who will win the Senate race.

NPR's Debbie Elliott reports:

"On the Senate floor, Landrieu called for action on the Canada-to-Texas pipeline project, saying, 'I believe with a push we could actually get the votes that we need to pass the Keystone pipeline.'

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U.S.
12:03 am
Thu November 13, 2014

After Solyndra Loss, U.S. Energy Loan Program Turning A Profit

Beacon Power President and CEO Barry Brits, at the company's plant in Hazle Township, Pa. He says a loan from the Department of Energy made it possible for his company to develop its flywheel energy storage technology.
Jeff Brady NPR

Originally published on Thu November 20, 2014 11:53 pm

In 2011, solar panel company Solyndra defaulted on a $535 million loan guaranteed by the Department of Energy. The agency had a few other high-profile bankruptcies, too — electric car company Fisker and solar company Abound among them.

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Business
5:36 pm
Wed November 12, 2014

Treasury Secretary: Boosting World Economy Requires 'Tough Decisions'

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Economy
5:01 pm
Wed November 12, 2014

As U.S. Leads Growth, It Wants Others To Step Up

U.S. Treasury Secretary Jack Lew says the global economy is relying too heavily on just the United States for growth.
Chip Somodevilla Getty Images

Originally published on Wed November 12, 2014 6:41 pm

The global economy rolls along more smoothly when it's not riding a unicycle. It needs additional wheels for momentum and stability.

That is, in effect, what Treasury Secretary Jack Lew is telling leaders of other advanced nations.

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Business
4:42 pm
Wed November 12, 2014

Banking Giants Settle Currency Manipulation Charges

Originally published on Wed November 12, 2014 5:45 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Transcript

ROBERT SIEGEL, HOST:

Six big banks will pay more than $4 billion to U.S. and European regulators for more bad behavior, this time rigging foreign currency markets. Among the charges? That currency traders at the banks collaborated in online chat rooms to cheat customers.

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The Two-Way
3:08 pm
Wed November 12, 2014

Big Banks Will Pay $4.25 Billion In Fines Over Currency Manipulation Charges

Originally published on Wed November 12, 2014 3:19 pm

Accused of working together to manipulate the foreign exchange market, six huge banks have been ordered to pay fines to agencies in the U.S., Britain and Switzerland totaling around $4.25 billion. U.S. firms Citigroup and JPMorgan Chase will pay the largest fines, about $1 billion each.

The fines are part of an agreement to settle civil charges, and the banks could still face criminal charges. Other banks that agreed to settle the accusations include Bank of America, UBS, the Royal Bank of Scotland, and HSBC.

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Politics
5:20 am
Wed November 12, 2014

Anti-Poverty Groups Prepare For Battles With New Congress

Originally published on Wed November 12, 2014 8:09 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Fine Art
3:49 am
Wed November 12, 2014

Famous Paintings Sell For Millions At Auction, But The Artist Gets Zero

Andy Warhol's Triple Elvis [Ferus Type] is set to be auctioned at Christie's, and expectations are high — but Warhol's estate won't see any of the money.
Christie's Images LTD. 2014

Originally published on Wed November 12, 2014 2:02 pm

It's fall auction season in New York, and two Andy Warhol silkscreens are on the block at Christie's. One is of Elvis Presley — it's called Triple Elvis; the other is Four Marlons — as in Marlon Brando. In the late 1970s, a German casino bought both works for $185,000. This time around, they're expected to fetch more than $100 million. Andy Warhol's estate won't see any of that money: Unlike musicians or novelists, visual artists don't earn future royalties. But that may be about to change.

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The Two-Way
8:00 pm
Tue November 11, 2014

Chinese Shoppers Set Record For 'Singles Day' Shopping Spree

Originally published on Wed November 12, 2014 9:26 am

You might not know this, but today is "singles day." That's according to China and the world's largest supplier of goods, Alibaba. Together the two have turned an obscure student holiday into the country's biggest shopping event.

In the 1990s, Chinese university students began celebrating being unattached on Nov. 11, which of course is abbreviated 11/11.

The idea was for singles to go out, go to parties, go to bars without all the Valentine's Day commercial schmaltz.

At least that's what it was. Now it's the biggest commercial holiday on the planet.

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U.S.
4:17 pm
Tue November 11, 2014

IRS Warns Tax Filing Deadlines And Refunds Could Be Delayed

Originally published on Tue November 11, 2014 6:24 pm

The Internal Revenue Service has warned of tax season chaos if Congress fails to pass a series of breaks by the end of November. The so-called tax extenders include everything from deductions for school teachers who buy classroom supplies to faster depreciation for business equipmentent.

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Shots - Health News
10:56 am
Tue November 11, 2014

Pay Attention To The Health Insurance Calendar To Avoid Surprises

Mind the gap. When the 2015 open enrollment period begins on Nov. 15 for plans sold on the individual market, consumers would be wise to act promptly to avoid a gap in coverage.

Failing to do so could leave you exposed to unexpected medical bills. (Uh-oh, appendicitis!) And you could also be hit with a penalty for not having health insurance that kicks in if you go without coverage for three months or more during the year.

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The Two-Way
8:10 am
Tue November 11, 2014

U.S. And China Move Toward Ending Tariffs On High-Tech Gear

An international tariff on high-tech goods could be rewritten, thanks to negotiations in China. Here, men use smartphones in Beijing last month, days after Apple released its iPhone 6 in the Chinese market.
GREG BAKER AFP/Getty Images

Originally published on Tue November 11, 2014 1:29 pm

A tariff system that adds as much as 25 percent to the cost of American high-tech products could be on the way out, thanks to negotiations at the Asia-Pacific Economic Cooperation summit in China. President Obama announced the new progress Tuesday.

The development could speed the adoption of a new agreement by the World Trade Organization. The current tariff system has been in place for nearly 18 years and now applies to more than $4 trillion in annual global trade, U.S. officials say.

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Business
7:03 am
Tue November 11, 2014

Politics And A Food Fight Are Stalling A Major U.S.-Asia Trade Deal

A Malaysian flag sits on a table among other flags during a news conference at the Trans-Pacific Partnership Free Trade Agreement talks in July 2012 in San Diego. Nearly two and a half years later, the deal remains incomplete.
Gregory Bull AP

Originally published on Tue November 11, 2014 10:30 am

Earlier this year, some trade supporters had predicted this week's APEC summit would bring a breakthrough on a comprehensive trade deal.

They had hoped that when the 21 global leaders met at the Asia-Pacific Economic Cooperation Summit, Obama would be able to use a smaller side meeting to conclude the Trans-Pacific Partnership, a trade deal involving the United States, Canada, Australia and New Zealand, as well as eight Asian and Latin American countries.

But the deal wasn't reached, and there's no telling when it will be.

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Research News
5:07 am
Tue November 11, 2014

Study Shows Long-Term Benefits Of Welfare Program

Originally published on Tue November 11, 2014 6:54 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

All Tech Considered
3:36 am
Tue November 11, 2014

Tech Star Wants To Make Diversity Plug-And-Play For Silicon Valley

Tristan Walker founded Code2040, an internship program designed to bring Latino and black engineering undergrads to Silicon Valley.
David Paul Morris Bloomberg via Getty Images

Originally published on Tue November 11, 2014 11:11 am

Tristan Walker is successful by anyone's standards: He went to a top-notch prep school, graduated as valedictorian at college, went on to become a trader on Wall Street, earned an MBA at Stanford, and then helped to launch the location app Foursquare.

But what makes Walker so remarkable is that he is one of the few African-Americans to rise up the ranks in Silicon Valley.

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Business
5:01 am
Mon November 10, 2014

Labor Dispute Criticized For Slowing West Coast Port Traffic

Originally published on Mon November 10, 2014 8:34 am

At odds are Pacific dockworkers and shipping companies. For months they've been trying to work out a new labor agreement. And now, shippers are accusing dockworkers of deliberately slowing their work.

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Business
4:54 pm
Sun November 9, 2014

Holiday Travelers Should Expect Packed Planes, Higher Fares

The airline industry is predicting more people will take to the skies this Thanksgiving than in any year since the start of the recession.
David Goldman AP

Originally published on Sun November 9, 2014 6:21 pm

With gas and oil prices plunging, among those benefiting are airlines. With fuel prices down, profits are up, but that doesn't mean you'll be able to find cheap airfares, especially over the holidays.

The airline industry is predicting more people will take to the skies over Thanksgiving than any year since the start of the recession.

The weather in Chicago is not quite frightful yet, but the snow and cold is coming; so warm weather destinations for the holidays sound appealing.

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Economy
4:54 pm
Sun November 9, 2014

Low Gas Prices Haven't Slowed Domestic Drilling — Yet

Lower oil prices, while good for the economy, are a threat to what has been a dramatic surge in oil production in the U.S.
David Goldman AP

Originally published on Mon November 10, 2014 3:22 pm

It's lunchtime in Douglas, Wyo., a town smack in the middle of the state's booming oil patch, and the line of cars at the McDonald's drive-through wraps around the building. A hiring poster hangs in the window, and the parking lot is full.

Troy Hilbish, a tool hand for the oil field servicing company Schlumberger, says while he didn't know oil prices have been falling, he does know what falling prices mean.

"If the oil prices go up, we drill more," Hilbish says. "If they go down, we don't drill as much."

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Around the Nation
7:38 am
Sat November 8, 2014

Bankruptcy Judge: Detroit Deal Nearly Miraculous

Originally published on Sat November 8, 2014 12:33 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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Commentary
5:53 am
Sat November 8, 2014

A Challenge To The New Congress: Fix Stagnant Wages

Speaker of the House John Boehner looks on as President Barack Obama meets with bipartisian congressional leaders at the White House on the results of this week's elections.
Getty Images

Originally published on Sat November 8, 2014 12:33 pm

One of my favorite arguments — and one I've had in just about every even numbered year since the seventies — is about when to stop talking about politics. A surprising number of people think that since elections are on Tuesday, by Saturday all that can be said has been said, and nothing more should be said.

As a person who's covered politics for decades, I don't believe that. Saturday after the election and the Saturday after that are good days to talk politics. And we need to talk.

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Around the Nation
4:32 pm
Fri November 7, 2014

'Grand Bargain' Will Help Save Detroit — And Its Art

Originally published on Fri November 7, 2014 8:11 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Transcript

MELISSA BLOCK, HOST:

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Planet Money
4:32 pm
Fri November 7, 2014

Liberia's 'Flags Of Convenience' Help It Stay Afloat

Originally published on Fri November 7, 2014 8:11 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Economy
4:32 pm
Fri November 7, 2014

Beyond The Unemployment Rate: Look At These 5 Labor Indicators

Job hunters line up for interviews at an employment fair in New York City. The unemployment rate tells only a partial story about the U.S. labor market.
Mark Lennihan AP

Originally published on Fri November 7, 2014 8:11 pm

The unemployment rate has fallen to its lowest level since July 2008 — to 5.8 percent — the Labor Department said Friday. And October marks the ninth month in a row that job growth has exceeded 200,000.

But if you ask Americans about the economy, they're still mostly not impressed.

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The Two-Way
11:58 am
Fri November 7, 2014

Judge Approves Detroit's Plan To Exit Bankruptcy

Detroit emergency manager Kevyn Orr (left) speaks at a news conference in Detroit as Michigan Gov. Rick Snyder, who appointed Orr, listens. Orr's plan for the city to emerge from bankruptcy was approved by a federal judge today.
Paul Sancya AP

Originally published on Fri November 7, 2014 2:59 pm

Updated at 1:15 p.m. ET

A federal judge today gave the OK to a bankruptcy exit strategy proposed by Detroit nearly 16 months after the city asked for protection from its creditors.

At a 1 p.m. ET hearing, Judge Steven Rhodes found that the plan was fair and feasible. He's expected to issue a written ruling later.

"This city is insolvent and desperately needs to fix its future," Rhodes said.

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The Two-Way
8:53 am
Fri November 7, 2014

Economy Continues Adding Jobs, Unemployment Rate Dips To 5.8 Percent

BLS

Originally published on Fri November 7, 2014 9:34 am

The October jobs report from the Bureau of Labor Statistics showed that the economy continued to add jobs at a healthy clip.

Here are the two big numbers:

The economy added 214,000 jobs; less than the 248,000 produced in September, but just about the 200,000 needed to keep pushing down the unemployment rate.

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NPR Story
4:58 am
Fri November 7, 2014

Future U.S. Manufacturing Jobs Will Require More Brain Than Brawn

Originally published on Tue November 11, 2014 4:27 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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NPR Story
4:58 am
Fri November 7, 2014

October Jobs Data Show Solid Employment Growth

Originally published on Tue November 11, 2014 4:27 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

Transcript

RENEE MONTAGNE, HOST:

Here's an irony of the thumping President Obama's party took on Election Day - voters were disappointed with both the president and the country's direction. Yet on the day after the election, the president was able to paint a sunny picture.

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NPR Story
4:58 am
Fri November 7, 2014

Judge To Rule Friday On Detroit's Bankruptcy Exit

Originally published on Tue November 11, 2014 4:27 pm

Copyright 2014 WDET-FM. To see more, visit http://www.wdet.org.

Transcript

RENEE MONTAGNE, HOST:

And today is decision day in Motor City. A federal judge is set to rule on Detroit's plan to exit the largest municipal bankruptcy in U.S. history. Quinn Klinefelter from member station WDET has our story.

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