Writer Sybilla Nash agreed to help out a friend by co-signing a mortgage. But after her friend neglected to make payments, Nash's credit score dropped 200 points. Nash wrote about the ordeal for The Huffington Post. She joins host Michel Martin and consumer education expert John Ulzheimer to talk about how to avoid sticky financial situations.
Saying that the global economic recovery "has suffered new setbacks, and uncertainty weighs heavily on the outlook," the International Monetary Fund today warned that the probability of "recession in advanced economies and a serious slowdown in emerging market and developing economies" next year have gone up.
The fund said its research indicates the risk of those things occurring in 2013 "has risen to about 17 percent, up from about 4 percent in April 2012."
NPR's business news starts with a passage to India.
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INSKEEP: Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner meet their counterparts in India today. The U.S. wants to boost economic ties with the country that it on its way to becoming the most populous in the world. Talks have been pushed forward by India's new liberalizing economic reforms.
Finance ministers and central bankers from around the world are on their way to Tokyo for their annual get-together, sponsored by the International Monetary Fund and World Bank. The mood, at the moment, about the global economy, is worried. In fact, the IMF has just called the risk of a worldwide slowdown alarmingly high.
To find out more, we turn, as we often do, to David Wessel. He's economics editor of The Wall Street Journal.
A lot of would-be professional writers dream of someday getting a book contract that includes an advance, enough money, paid upfront, to let them quit their day job and write full time.
Of course, those advances do come with an expectation that an author will actually write the book. The Penguin Publishing Group recently filed suit against a dozen authors who failed to produce manuscripts after getting an advances.
And today's last word in business is a race at the drive-through. When it comes to fast food, Wendy's is winning the drive-through speed test. That's according to a new study from an industry magazine.
RENEE MONTAGNE, HOST:
Wendy's customers wait an average of two minutes and 10 seconds for their meals, 20 seconds faster than the runner-up, Taco Bell.
As part of Solve This, NPR's series on major issues facing the country, we're examining the presidential candidate's approach to boosting employment. After looking at President Obama's strategy, it's time to examine the plan of GOP nominee Mitt Romney.
On her 22nd birthday this summer, Sarah Wagner of suburban Wheaton, Ill., who describes herself as a huge fan of the Chicago Cubs, opened an email to find an incredible surprise — a recorded message from her favorite Cubs player:
"Hey, Sarah! Kerry Wood here! Thanks for your message and I hope you're having a great summer!"
"When I heard for the first time, I instantly smiled," says Wagner. "I think my hands probably went over like my mouth, like, 'Oh my gosh, Kerry Wood is talking to me, even though he has no idea who I am!' "