Business

3:00am

Fri November 22, 2013
Planet Money

A Bitcoin Insider On Crime, Congress And Satoshi Nakamoto

Originally published on Fri November 22, 2013 11:48 am

This is not a bitcoin.
eagleapex's posterous Flickr

For more on what Bitcoin is and how it works, see our story "What Is Bitcoin?"

Gavin Andresen is chief scientist at the Bitcoin Foundation. I first talked with him about Bitcoin, the virtual currency, back in 2011. I checked back in with him this week, because so much has been going on with Bitcoin lately.

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6:31pm

Thu November 21, 2013
The Two-Way

Prepare For Cabin Noise: FCC May End Ban On Phones During Flights

Originally published on Thu November 21, 2013 8:59 pm

The new head of the Federal Communications Commission proposes allowing airline passengers to make phone calls during flights. Here, a passenger looks at her cellphone before a flight last month.
Matt Slocum AP

The Federal Communications Commission is proposing a change to allow travelers to make phone calls as they fly on jetliners in the U.S. The agency's new chairman, Tom Wheeler, calls the current ban on the use of cellphones during flights "outdated and restrictive."

Here's a statement from Wheeler that was released Thursday:

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5:17pm

Thu November 21, 2013
The Two-Way

Dow Jones Index Closes Above 16,000 For First Time

Originally published on Thu November 21, 2013 5:42 pm

For the first time in its history, the Dow Jones industrial average closed above 16,000 points Thursday. The index of 30 stocks touched the mark earlier this week, when a trader was photographed at the New York Stock Exchange.
Andrew Burton Getty Images

The Dow Jones industrial average tacked on 109 points Thursday for a gain of less than 1 percent. But the small rise brought a big milestone, as the industrial index closed above 16,000 for the first time in its history. The index had touched the mark earlier this week but fell short by the day's end.

Today, the Dow closed at 16,009.99.

The historic moment for the benchmark index that tracks 30 leading U.S. companies came on a day that began with positive economic news.

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11:55am

Thu November 21, 2013
The Two-Way

Yellen's Nomination To Fed Gets OK From Senate Committee

Janet Yellen during her confirmation hearing earlier this month. She's expected to win Senate approval to take over as head of the Federal Reserve.
Brendan Smialowski AFP/Getty Images

By a 14-8 vote that saw three Republicans join 11 Democrats in saying "aye," the Senate Banking Committee on Thursday morning approved the nomination of Janet Yellen to be the next head of the Federal Reserve.

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9:50am

Thu November 21, 2013
Parallels

Saudi Arabia's Global Arms Shopping Spree

Originally published on Thu November 21, 2013 4:04 pm

A Leopard 2 A6 tank is in operation during the German army exercise in Bergen, Germany, on Oct. 2. Germany said it would sell 270 of the tanks to Saudi Arabia last year. According to official figures, the Saudis were the top buyers of arms from Germany.
Peter Steffen DPA /LANDOV

Saudi Arabia has emerged as the biggest foreign customer for German arms, buying nearly a quarter of Germany's total weapons sales.

It's part of an emerging pattern of weapons purchases by Saudi Arabia and its neighbor, the United Arab Emirates.

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8:59am

Thu November 21, 2013
The Two-Way

Jobless Claims And Wholesale Prices Drop

Originally published on Thu November 21, 2013 11:47 am

Part of the scene at a job fair for veterans and family members earlier this month in Marietta, Ga.
David Goldman AP

While it's always important to keep in mind that neither one week nor one month make for a trend, there is good economic news to pass along:

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5:04am

Thu November 21, 2013
Business

Tribune Media Company To Lay Off 700 Employees

Originally published on Thu November 21, 2013 10:10 am

The company owns seven daily newspapers including the Chicago Tribune and the Los Angeles Times. The company says the cuts will mostly affect the publishing side of the business — not editorial staff. The company says it's part of an ongoing effort to consolidate its business.

5:04am

Thu November 21, 2013
Health Care

Medicare Project May Provide Better Care Less Expensively

Originally published on Thu November 21, 2013 6:55 am

Fort Dodge, Iowa, is not exactly what you'd think of as a hotbed of health care innovation. But the small town in the western part of the state is part of a Medicare pilot project that economists say could be a pathway to the holy grail of health care: providing better care at a lower cost.

5:04am

Thu November 21, 2013
Business

Obama, State Insurance Commissioners Talk Policy Extensions

Originally published on Thu November 21, 2013 6:55 am

President Obama met with state insurance commissioners to discuss changes to the implementation of the Affordable Care Act. Some commissioners are in a difficult spot because their states passed laws that prohibit policies that don't comply with the law. Now, the president says companies can keep offering non-compliant policies for another year if they want to.

5:04am

Thu November 21, 2013
Business

Elvis Presley Enterprises Sold To Authentic Brands

Originally published on Thu November 21, 2013 7:18 am

Transcript

RENEE MONTAGNE, HOST:

And our Last Word In Business is, still the King. It's been over three decades since Elvis Presley left this earthly building. But his legacy lives on, and generates about $32 million a year in revenue.

STEVE INSKEEP, HOST:

And now, Elvis Presley Enterprises has a new owner. Authentic Brands Group, which already manages Marilyn Monroe's brand, will acquire rights to Elvis' photos, music, movie and TV appearances, although the price has not yet been disclosed.

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