Business

3:02pm

Wed July 10, 2013
The Two-Way

U.S. Job Market Seen As X Factor In Fed's Stimulus Plans

Traders work at the New York Stock Exchange Wednesday. Stocks rose in the moments after details of the Federal Reserve's latest policy meeting were released today.
Richard Drew AP

The Federal Reserve must ensure the U.S. job market is in full health before it begins to ease its aggressive bond-purchasing program, its top officials said at the Fed's latest policy meeting. This afternoon, the central bank released the minutes of the Federal Open Market Committee meeting of June 18 and 19.

In that session, the officials cited a moderate pace of economic expansion, but said it was coupled with an unemployment rate that remains high.

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2:32pm

Wed July 10, 2013
Business

Smithfield Says Pork Won't Change, But Some Aren't Buying It

Originally published on Thu July 11, 2013 10:08 am

A Smithfield ham at a grocery store in Richardson, Texas, in 2011. Some senators expressed qualms Wednesday about the intentions of Shuanghui International Holdings, which is buying Smithfield Foods.
LM Otero AP

Americans will get the same ham slabs and bacon slices they have enjoyed for generations, even after Smithfield Foods becomes a Chinese subsidiary, Smithfield CEO Larry Pope told Congress on Wednesday.

"It will be the same old Smithfield, only better," Pope said at a Senate Agriculture Committee hearing.

But several senators weren't buying the bacon-will-be-unbroken story once Hong Kong-based Shuanghui International Holdings owns Smithfield.

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10:42am

Wed July 10, 2013
The Two-Way

Apple Conspired To Set E-Book Prices, Judge Rules

Originally published on Wed July 10, 2013 2:19 pm

A federal judge ruled Wednesday that Apple conspired with publishers to fix e-book prices.
Manu Fernandez AP

Apple Inc. "conspired to raise the retail price of e-books," a federal judge ruled Wednesday as a civil lawsuit brought by the Justice Department reached its conclusion.

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8:37am

Wed July 10, 2013
Parallels

Bangladesh Collapse: The Garment Workers Who Survived

Originally published on Wed July 10, 2013 8:57 pm

Rebecca Khatun, a worker at Rana Plaza, lies in a hospital bed. She lost her left leg and right foot in the collapse, which also killed five members of her family. Khatun received $120 and free medical care for her loss --€” compensation she says won't be enough for what she's been through.
Julie McCarthy NPR

(We updated this post at 11:58 a.m. ET to include a statement released Wednesday by Walmart. Click here to see that)

It's been 2 1/2 months since the Rana Plaza collapsed on garment workers in Bangladesh, exposing abysmal safety conditions in the country's factories.

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8:22am

Wed July 10, 2013
All Tech Considered

Utah Internet Firm Defies State's Warrantless Subpoena Law

Originally published on Wed July 10, 2013 9:51 am

Pete Ashdown is founder and CEO of XMission, Utah's oldest Internet service provider.
Flickr via Center for Study of Ethics at UVU

Utah's oldest Internet service provider, XMission, has refused to give up customer information to law enforcement, reports The Salt Lake Tribune. Specifically, the company says it won't comply with administrative subpoenas.

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5:38am

Wed July 10, 2013
The Two-Way

Investors Brace For News Out Of Fed Minutes

Originally published on Wed July 10, 2013 9:13 am

Federal Reserve Chairman Ben Bernanke during a news conference in June. Financial markets reacted to comments he made then by selling off bonds and stocks.
Alex Wong Getty Images

After the Federal Open Market Committee meeting last month, the financial markets "freaked out," according to David Wessel, economics editor of The Wall Street Journal.

Federal Reserve Chairman Ben Bernanke's remarks at the time sent a shockwave through the markets when he suggested the Fed's stimulus could end.

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4:32am

Wed July 10, 2013
Animals

Virus Targets Baby Pigs

Originally published on Wed July 10, 2013 8:03 am

Transcript

DAVID GREENE, HOST:

And the agriculture industry is dealing with a new worry: a virus that is spreading through farms. It has killed hundreds of thousands of baby pigs.

Frank Morris from member station KCUR has more.

FRANK MORRIS, BYLINE: Like most hog farmers, Brent Sandidge in Missouri has been losing money lately.

BRENT SANDIDGE: We've had a drought, and record high feed prices, so that would be the last thing you'd need, another hit.

MORRIS: But that hit came this spring for some with the Porcine Epidemic Diarrhea Virus.

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4:32am

Wed July 10, 2013
Business

China Issues Grim Trade Outlook

Originally published on Wed July 10, 2013 8:03 am

Transcript

DAVID GREENE, HOST:

NPR's business news begins with China's grim trade outlook.

(SOUNDBITE OF MUSIC)

GREENE: Numbers from the month of June offered more evidence that the world's second-biggest economy might be losing steam. Exports from China fell by more than 3 percent from a year earlier. Imports were down, as well, by almost a percent.

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4:32am

Wed July 10, 2013
Middle East

Egypt's Economic Health Needs Outside Help

Originally published on Wed July 10, 2013 3:21 pm

Transcript

RENEE MONTAGNE, HOST:

Egypt's political future will largely depend on its economy, and its economic future will largely depend on help from other countries. To talk more about this, we reached Mohsin Khan. He's a senior fellow at the Rafik Hariri Center on the Middle East at the Atlantic Council. He's also the former Director of the Middle East Department at the International Monetary Fund. Good morning.

MOHSIN KHAN: Good morning.

MONTAGNE: What are Egypt's most immediate economic needs?

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4:32am

Wed July 10, 2013
Business

Twinkies To Return to Store Shelves On Monday

Originally published on Wed July 10, 2013 8:03 am

Transcript

RENEE MONTAGNE, HOST:

And today's last word in business is one of our favorite subjects: Twinkie resurrection.

The yellow spongy cakes will be back on store shelves this Monday. There had been a run on Twinkies following the bankruptcy of Hostess, Twinkies' parent company.

DAVID GREENE, HOST:

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