Business

5:12pm

Tue November 12, 2013
Politics

Obama Taps Treasury's Bailout Lawyer To Lead Derivatives Watchdog

Originally published on Tue November 12, 2013 5:56 pm

Timothy Massad is nominated to head the Commodities Futures Trading Commission. He would replace Gary Gensler, whose four-year tenure was marred by questions of his professional ties to Jon Corzine and the downfall of MF Global.

5:12pm

Tue November 12, 2013
Business

Justice Department Approves American, U.S. Airlines Merger

Originally published on Tue November 12, 2013 5:56 pm

The Justice Department approved an airline merger Tuesday that will create the world's largest carrier. AMR, the parent of American Airlines, and U.S. Airways agreed to divest a number of slots and gates at key airports in order to enhance competition.

5:12pm

Tue November 12, 2013
Energy

Ethanol Is Center Stage In Fight Over American Fuel Tanks

Originally published on Tue November 12, 2013 5:56 pm

Two large industries — agriculture and oil — are fighting a pitched battle over access to your car's fuel tank. Americans are buying less gasoline, but a federal law requires the country to include an increasing amount of corn-based ethanol in the country's fuel supply. Facing billions of dollars in lost sales, the oil industry wants the government to reverse course on ethanol.

2:22pm

Tue November 12, 2013
Parallels

Do For-Profit Schools Give Poor Kenyans A Real Choice?

Originally published on Tue April 22, 2014 1:54 pm

Young students in a Bridge International Academy school in Nairobi, in September. On the surface, there's little to distinguish these schools from others in the developing world. But Bridge's model relies on teachers reading lessons from tablets.
Frederic Courbet for NPR

Bridge International Academies has set up more than 200 schools in Kenya over the past four years, and plans to open 50 more in January.

Using a school-in-a-box model, Bridge's founders say it gives primary schoolkids a quality education for roughly $5 a month.

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12:12pm

Tue November 12, 2013
The Two-Way

Justice Reaches Deal To Allow American, US Airways Merger

Originally published on Tue November 12, 2013 12:57 pm

A US Airways plane rests near two American Airlines jets at Ronald Reagan Washington National Airport last year. The combined carrier would be named American Airlines.
Jim Watson AFP/Getty Images

The Justice Department has reached a deal that will allow for the merger of American and US Airways, opening the door to the creation of the world's largest airline.

The merger still needs final approval from a bankruptcy court.

The U.S. had hoped to block the merger arguing that it would result in less competition and higher prices for consumers.

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11:12am

Tue November 12, 2013
The Salt

Have Bitcoin To Burn? Next Stop Could Be The Farm

Originally published on Tue November 12, 2013 2:54 pm

Economists say small-business owners — especially farmers dealing in high volume and low profit margins — are more likely to accept a volatile currency like Bitcoin than bigger businesses.
Allen Sheffield Flickr

For food producers who sell directly to consumers, credit cards are both a blessing and a curse.

They're a way to do business with cashless customers, but 3 percent of every credit card sale is usually charged to the farmer as a transaction fee. That adds up in a high-volume, low-profit business like agriculture.

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10:21am

Tue November 12, 2013
The Two-Way

Bailout Chief Tapped For Tougher Job: Regulating Derivatives

Originally published on Wed November 13, 2013 10:33 am

Meet the new boss? Timothy Massad, left, is to be nominated to replace Gary Gensler, right, as chairman of the Commodity Futures Trading Commission.
Official portraits from the Treasury Dept. and CFTC

The news, as Bloomberg Businessweek writes, is that:

"Timothy Massad, the Treasury Department official responsible for overseeing the U.S. rescue of banks and automakers after the credit crisis, will be nominated to head the country's top derivatives regulator."

But leave it to The Wall Street Journal to neatly sum things up in a headline:

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5:26am

Tue November 12, 2013
Politics

Affordable Care Act's Website Reflects Law's Complexity

Originally published on Tue November 12, 2013 8:15 am

Transcript

STEVE INSKEEP, HOST:

Its MORNING EDITION from NPR News. I'm Steve Inskeep.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer. We'll get a look this week at how many people have signed up for health insurance on the new government exchanges. According to the Wall Street Journal, fewer than 50,000 people have obtained coverage so far through the federal website. That's well below the government's original forecasts.

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5:14am

Tue November 12, 2013
Business

Apple And Samsung Resume Courtroom Battle

Originally published on Tue November 12, 2013 8:15 am

Transcript

LINDA WERTHEIMER, HOST:

NPR's business news starts with tech giants back in court.

(SOUNDBITE OF MUSIC)

WERTHEIMER: Apple and Samsung resumed their legal battles today. Last year, Samsung was found guilty of patent infringement. A judge ordered that Apple be paid a billion dollars in damages. Earlier this year, another judge reduced that amount to $450 million. Now a new trial, where a jury will reconsider both the allegations and the damages awarded. Transcript provided by NPR, Copyright NPR.

5:14am

Tue November 12, 2013
Business

China Celebrates Singles Day By Buying Stuff

Originally published on Tue November 12, 2013 8:15 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is: singles sales.

Yesterday, as Americans mark Veterans Day, China celebrated Singles Day. The holiday is a Chinese twist on Valentine's Day, a day to focus not on couples but on yourself.

LINDA WERTHEIMER, HOST:

And apparently the concept is good for business. It has led to an unprecedented online shopping spree. Internet sales in China yesterday beat out last year's U.S. Black Friday and Cyber Monday sales combined.

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