Two Iranian textile merchants wait for customers in Tehran's main bazaar. President Hassan Rouhani has raised hopes by reaching out to the West and promising to work for an end to sanctions. But his team has cautioned that the country's economic problems have deep roots.
The U.S. and its Western allies have not been able to win the nuclear concessions they have sought from Iran. But they have been able to inflict considerable economic pain through sanctions.
But now, Iran's call for a nuclear agreement and an end to sanctions has raised hopes among Iranians that better economic times may be ahead. The Iranian currency has stabilized somewhat since the election of President Hassan Rouhani, although inflation and unemployment remain high.
Originally published on Tue October 15, 2013 12:12 pm
So far, the tobacco industry has paid more than $100 billion to state governments as part of a settlement. While smoking is down among young people and even adults in some areas, it's still unclear where much of that money has gone.
Fifteen years after tobacco companies agreed to pay billions of dollars in fines in what is still the largest civil litigation settlement in U.S. history, it's unclear how state governments are using much of that money.
So far tobacco companies have paid more than $100 billion to state governments as part of the 25-year, $246 billion settlement.
It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.
Let's talk chili peppers. It's harvest time in New Mexico where the iconic crop has been grown for centuries. New Mexico still produces more chili peppers than any other American state. But production in the U.S. is a fraction of what's produced in India and China, countries with large pools of labor.
NPR's Ted Robbins reports that farmers in New Mexico could increase their harvest if they had the people to do it.
Originally published on Sun October 13, 2013 3:27 pm
Credit The Nobel Foundation
While a few gamblers bet real money on potential Nobel Prize winners, at Planet Money we're content to merely speculate. We're particularly interested in who might win the economics prize, which will be announced Monday morning.
Originally published on Sun October 13, 2013 8:47 am
According to journalist Allen Salkin, Emeril Lagasse initially opposed bringing Rachael Ray, pictured here in 2007, onto the Food Network – and, at first, Ray agreed with him. "You have this all wrong," she told executives, "I'm beer in a bottle; you guys are champagne."
Mario Batali, Guy Fieri and Rachael Ray are just a few of the stars the Food Network helped create. But what the network gave, it could also take away.
In From Scratch, author Allen Salkin takes an unsparing look at the network's progression from struggling cable startup to global powerhouse, and the people — Emeril Lagasse, Paula Deen — who rose and fell along the way.
Salkin tells NPR's Rachel Martinthat while the network was intended for cooks, it wasn't run by them.
Zanny Minton Beddoes, the economics editor for The Economist, argues that the stalled budget negotiations and the government shutdown have already harmed U.S. standing in the world. She explains her position to host Arun Rath.
Cleanup went on Friday at the site of an oil pipeline leak and spill north of Tioga, N.D. Officials took nearly two weeks to tell the public about the break in a Tesoro Corp. pipeline.
Credit Kevin Cederstrom / AP
The handling of an oil spill in North Dakota is raising questions, after a state agency waited to tell the public it had taken place. A wheat farmer was the first to recognize the spill had happened; it became public knowledge nearly two weeks later.
Here's how the AP describes the spill's discovery:
"Farmer Steve Jensen says he smelled the crude for days before the tires on his combines were coated in it. At the apparent break in the Tesoro Corp.'s underground pipeline, the oil was 'spewing and bubbling 6 inches high,' he said in a telephone interview Thursday."
Today, a rare quarterly loss for the nation's biggest bank, JP Morgan Chase. As NPR's Dan Bobkoff reports, the bank is spending billions of dollars on litigation.
DAN BOBKOFF, BYLINE: It's not in JP Morgan Chase's nature to lose money. They made profits all through the financial crisis, bolstering both the reputations of the bank and its CEO Jamie Dimon. So a $380 million loss last quarter is noteworthy.
JAMES DIMON: It's very painful, OK, for me personally.
The annual meetings of the International Monetary Fund and World Bank began Thursday in Washington amid a partial government shutdown. Many delegates are concerned that the U.S. budget impasse may threaten global economic stability.
Credit Jose Luis Magana / AP
When you invite guests over, you probably straighten up the house to make a good impression.
This week, the nation's capital is welcoming guests from all over the world. Thousands of finance ministers, central bankers, scholars and industry leaders are in Washington, D.C., for the annual meetings of the International Monetary Fund and World Bank.