Steve Inskeep talks to Richard McGregor of the Financial Times about Treasury Secretary Jack Lew's trip to China. He bought a long list of economic agenda items to his meetings with top officials, ranging from cyberwarfare to China's currency controls.
Not long ago, it seemed that China was on its way to owning the solar energy business. China was making solar panels far more cheaply than U.S. companies. Now things look a little more complicated. China's Suntech was forced into bankruptcy yesterday. It's one of the world's largest solar panel makers. Suntech has to reorganize after defaulting on a bond payment of more than half-a-billion dollars.
Its falls reflects problems in China's approach to the global solar industry. NPR's Frank Langfitt reports.
We're tracking a cyber attack at the top of NPR's business news.
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INSKEEP: South Korea was hit by a cyber attack yesterday, that took out the systems at the country's banks and television networks. More than 30,000 computers went down. Now South Korea says the initial investigation shows that a Chinese Internet address was the source of the attack. It is still too early to assign blame though, because Internet address can be easily manipulated. Transcript provided by NPR, Copyright NPR.
Marmageddon is the term coined by the media to describe the shortage of Marmite in New Zealand, which resulted after the 2011 earthquake in Christchurch damaged the country's only Marmite factory. After many delays, the factory has reopened. Love it or hate it, the dark brown spread made from yeast extract is back on store shelves.
Banks on Cyprus remain closed today. The Cypriot Parliament has rejected the terms of a bailout from the European Union. The finance minister is in Moscow looking for financial help from the Russians.
Cyprus has about as many residents as the Bronx. When you add up all the country's banks, they don't even match the 30th largest bank in the U.S. But people all over the world have good reason to be freaked out over what's happened there this week.