Recent disclosures about NSA surveillance have affected U.S. relations with allies and tainted America's image around the world. Now the fallout seems to be creeping into the U.S. tech sector.
Cisco Systems, which manufactures network equipment, posted disappointing first-quarter numbers this week and warned that revenues for the current quarter could drop as much as 10 percent from a year ago — partly as a consequence of the NSA revelations.
Behind all our material goods, from iPhones to sneakers, is a narrative of exploited Chinese workers with bleak lives. Reporter Leslie T. Chang says that's a disrespectful narrative. She sought out workers in a Chinese megacity and tells their stories.
Originally published on Fri November 15, 2013 11:32 am
We told you this morning about changes announced in China regarding the country's one-child policy, as well as an announcement that it was ending its system of labor camps. But those aren't the only policy shifts by the Communist Party.
China also said Friday that it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
NPR's business news starts with layoffs at Lockheed Martin.
As the federal budget goes, so go defense contractors. Lockheed Martin says it's forced to reduce costs as federal defense spending declines. The nation's largest military contractor announced plans yesterday to eliminate 4,000 jobs over the next year and a half. Lockheed Martin also plans to close plants in several states, including California, Pennsylvania and Ohio.
Our today's last word in business today goes to the people who got the last word on Twitter. JPMorgan tried a Twitter public relations stunt. It announced that the company's vice chairman, Jimmy Lee, would take over the company's Twitter account. In other words, he could field questions from the masses.