Business

4:29pm

Tue December 10, 2013
Business

Regulators Tighten Bank Rules To Curb Risky Wall Street Trades

Originally published on Wed December 11, 2013 12:30 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

Federal regulators today approved a tough new set of restrictions on the kinds of trading that banks can do. The so-called Volcker rule largely prohibits FDIC-protected banks from trading securities for their own financial gain. It's part of the Dodd-Frank overhaul passed three years ago.

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4:29pm

Tue December 10, 2013
Business

GM's New CEO Will Be First Woman To Drive A Major Car Company

Originally published on Wed December 11, 2013 12:30 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

It's been a big week for General Motors and it's only Tuesday. Yesterday, the Treasury Department sold off its remaining shares in the auto giant. That ends one of the most tumultuous periods in company history. Now, GM turns a page with a new CEO, Mary Barra.

As NPR's Sonari Glinton reports, she will become the first woman CEO of a major automaker.

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3:55pm

Tue December 10, 2013
The Two-Way

Regulators Approve Rule To Rein In Banks' Risky Trades

Originally published on Tue December 10, 2013 8:33 pm

President Obama with Paul Volcker at the White House in 2009. Volcker, who headed the President's Economic Recovery Advisory Board, lent his name to a new rule aimed at curbing risk-taking on Wall Street.
Brendan Smialowski Getty Images

The Volcker rule, a centerpiece of the 2010 Dodd-Frank financial law aimed at stopping some of the risky banking practices that contributed to the economic meltdown, was approved by five key regulators on Tuesday, clearing the way for its implementation.

The U.S. Commodity Futures Trading Commission became the fifth and final body to approve the rule. The Federal Reserve and the Federal Deposit Insurance Corp. were also among the agencies that gave the green light.

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3:33pm

Tue December 10, 2013
Code Switch

In A Small Missouri Town, Immigrants Turn To Schools For Help

Originally published on Wed December 11, 2013 12:30 pm

Abbie Fentress Swanson Harvest Public Media

This story comes to us from Harvest Public Media, a public radio reporting project that focuses on agriculture and food production issues. You can see more photos and hear more audio from the series here. Wednesday, we'll have a story from a meatpacking plant in Garden City, Kan., which takes a proactive stance toward its newest immigrants.

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2:53pm

Tue December 10, 2013
Code Switch

When Buying A Home Is Too Costly And The Rent Is Too Damn High

Originally published on Tue December 10, 2013 5:50 pm

Jimmy McMillan ran for governor of New York state in 2010 as the candidate from the Rent is 2 Damn High party. (Party platform: The rent is too damn high!) The cost of renting a home is swallowing an ever larger portion of Americans' incomes.
Kathy Kmonicek AP

Back in 1995, more than half of all people of color rented their homes — almost twice the proportion of white renters. Then the Clinton administration pushed policies to bolster homeownership rates, and those numbers began a gradual, decade-long decline. The number of people of color renting fell below 50 percent. This coincided with an increased willingness by lenders to extend credit including to subprime borrowers.

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12:19pm

Tue December 10, 2013
Planet Money

Do Americans Spend More On Video Games Or Movies?

Originally published on Tue December 10, 2013 1:34 pm

PricewaterhouseCoopers

Americans spend more on video games than on tickets to the movies. Grand Theft Auto V was the fastest-selling entertainment product of all time, with sales of $1 billion in just three days.

But when you factor in everything — not just movie tickets, but on demand, rentals, etc. — Americans still spend way more on movies than they do on video games.

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12:11pm

Tue December 10, 2013
Business

Volcker Rule Aims To Rein In Banks' Risky Trades

American bank regulators unveiled the final version of the so-called Volcker Rule, which prohibits banks from trading stocks, bonds and derivatives for their own accounts. For more, Steve Inskeep speaks to NPR's Jim Zarroli.

11:59am

Tue December 10, 2013
Economy

Puerto Rico Bound For Bailout?

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE from NPR News. I'm Celeste Headlee. Michel Martin is away. We're going to spend some time today talking about money. In a few minutes, we'll ask how you can make some extra cash by selling either the junk around your house or the junker in your driveway.

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11:41am

Tue December 10, 2013
NPR Story

Maximize Your Cash Flow By Selling Your Stuff

Originally published on Tue December 10, 2013 11:59 am

Transcript

CELESTE HEADLEE, HOST:

This is TELL ME MORE from NPR News. I'm Celeste Headlee. If your wallet's already hurting this holiday season, we're going to spend the next part of the program helping you out a little. In a few minutes, we'll find out how to make the most money selling your used car. But first, some financial experts say if you're looking for extra cash, look no further than common things in your own house.

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10:02am

Tue December 10, 2013
The Two-Way

GM Says Its First Female CEO Will Take Over Next Month

Originally published on Tue December 10, 2013 2:18 pm

General Motors executive Mary Barra, seen here in January, will become the automaker's first female CEO. She will replace Dan Akerson, 65, who is retiring.
Carlos Osorio AP

Mary Barra will become the new leader of General Motors in January, the company announced Tuesday. A longtime GM veteran, Barra is currently an executive vice president; her tenure as CEO will begin after current leader Dan Akerson retires on Jan. 15.

Barra, 51, works in the company's global product development unit. She will soon become the first woman to lead a major automaker, as The Detroit Free Press reports.

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