Business

10:37am

Thu December 5, 2013
The Two-Way

Ford Hopes New Mustang Will Get The World's Motor Running

Originally published on Thu December 5, 2013 12:19 pm

The new 2015 Ford Mustang was unveiled Thursday. The car's new design includes features that are geared toward global markets.
Andrew Burton Getty Images

Ford unveiled its new Mustang on Thursday, in a splashy event that was undermined a bit by leaked photos that showed the new model's design. And the Mustang will be sold around the globe for the first time since the car was introduced nearly 50 years ago.

From Michigan Radio, Tracy Samilton filed this report for our Newscast unit:

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9:53am

Thu December 5, 2013
The Two-Way

U.S. Economy Grew At 3.6 Percent In Third Quarter; Jobless Claims Dip

Originally published on Thu December 5, 2013 11:23 am

The U.S. economy grew at an annual rate of 3.6 percent in the third quarter, according to data released Thursday by the Bureau of Economic Analysis. That's a rise from the second quarter, when the real gross domestic product tallied a 2.5 percent gain.

The pace of growth is the fastest since the first quarter of 2012, which clocked in at 3.7 percent.

Thursday's release is the "second" estimate for the third quarter, following up on data released in November that put the GDP's increase at 2.8 percent.

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9:36am

Thu December 5, 2013
The Two-Way

China Bans Bitcoin Trading By Banks

Originally published on Thu December 5, 2013 12:03 pm

Chinese banks cannot trade in Bitcoins, the digital currency that doesn't recognize international boundaries, China's top regulators said Thursday.
Rick Bowmer AP

China says banks in the country are no longer allowed to trade in Bitcoin, the digital currency whose value has sharply risen this year. Chinese citizens, however, are not forbidden from using the currency.

The Bitcoin exchange rate took a hit following Thursday's news from China's central bank.

From Shanghai, NPR's Frank Langfitt filed this report for our Newscast unit:

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6:56am

Thu December 5, 2013
Business

Reviewers On Amazon Poke Fun At $40,000 TV

Originally published on Thu December 5, 2013 4:05 pm

Transcript

STEVE INSKEEP, HOST:

Good morning. I'm Steve Inskeep.

Samsung is selling an HD television for $40,000. That price tag prompted the following customer reviews on Amazon.

RENEE MONTAGNE, HOST:

I was going to send my kids to college, but I had to do what was best for my family.

INSKEEP: Glad it has low energy costs, as I'm on a very tight budget.

MONTAGNE: I hesitated to buy, but I saw double-A batteries were free with the remote.

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5:09am

Thu December 5, 2013
Economy

Wal-Mart Brings Jobs To D.C. And Complaints Over Low Wages

Originally published on Thu December 5, 2013 4:05 pm

Transcript

STEVE INSKEEP, HOST:

Wal-Mart opened its first two stores in Washington, D.C. yesterday, earning cheers from the district's mayor and some residents who say they'll be happy to shop in the city and not in the suburbs. But there have been months of debate over the wages the big box store pays its employees. Some activists and lawmakers say Wal-Mart does not pay workers enough to live on.

NPR's Allison Keyes has our story.

(APPLAUSE)

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5:01am

Thu December 5, 2013
Economy

Pressure Mounts On Fast-Food Industry To Pay Workers More

Originally published on Thu December 5, 2013 4:05 pm

Transcript

RENEE MONTAGNE, HOST:

It's MORNING EDITION, from NPR News. Good morning. I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep.

Protests are planned at fast-food chain restaurants 100 American cities today. Unions are staging these protests as part of a campaign to press the industry to pay more than the minimum wage. In fact, organizers are calling for $15 per hour. In some cases, that would double the pay that workers get now, and the industry appears unlikely to do that voluntarily.

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4:59am

Thu December 5, 2013
Around the Nation

Calif. Cold Snap Threatens Orchards

Originally published on Thu December 5, 2013 4:05 pm

Transcript

RENEE MONTAGNE, HOST:

It is freezing here in Southern California. Overnight, temperatures plunged into the 20s and that cold front is threatening citrus and avocado orchards through Central and Southern California. Citrus alone is a $20 billion industry here. So growers are scrambling to protect their crops.

We reached one of them - Jim Churchill - who grows Pixie tangerines in the Ojai valley north of Los Angeles. He was spending the night in his orchard. And Jim Churchill, good morning. And this is probably the first of a few nights, right?

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4:45am

Thu December 5, 2013
Business

Temp Worker Writes Of 'Belly Of The Online Shopping Beast'

Originally published on Thu December 5, 2013 4:05 pm

Transcript

RENEE MONTAGNE, HOST:

Let's take a closer look at people working for much less than $15 an hour. For one week this fall, writer Gabriel Thompson did temp work in a busy warehouse in Southern California's Inland Empire region, which he describes as the belly of the online shopping beast. The warehouse where he packed merchandise for 9 bucks an hour is owned by Ingram Micro, the world's largest technology distributor.

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4:45am

Thu December 5, 2013
Business

Apple Gets Business Boost In China

Originally published on Thu December 5, 2013 4:05 pm

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with an Asian breakthrough for Apple.

(SOUNDBITE OF MUSIC)

INSKEEP: Wireless phone carrier China Mobile has signed a deal with Apple to offer iPhones on its network. According to The Wall Street Journal, the deal would give Apple access to China Mobile's many subscribers - around 700 million of them. That's about seven times more subscribers than Verizon - which is the largest mobile carrier in the United States.

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4:45am

Thu December 5, 2013
Business

Banks Come Under Fire For Filling In The Payday Loan Gap

Originally published on Thu December 5, 2013 4:05 pm

Federal regulators are setting new rules for banks that offer deposit advances.
iStockphoto

A payday loan is a costly form of credit operating on the fringes of the economy. That's why the target of a new crackdown by federal regulators may surprise you: Instead of a forlorn-looking storefront with a garish neon sign, it's your familiar neighborhood bank.

A small but growing number of banks, including some major players, have been offering the equivalent of payday loans, calling them "deposit advances."

That is, at least, until bank regulators stepped in Nov. 21 and put new restrictions on the loans.

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