Business

4:25pm

Thu September 19, 2013
Middle East

Turkey's Lira Falls To Its Lowest Value In Years

Originally published on Thu September 19, 2013 7:07 pm

Potential changes in economic policy from Washington have sent tremors throughout emerging economies. In Turkey, where growth in recent years has put Eurozone economies to shame, the signs are troubling: The Turkish lira has fallen to its lowest value in years and private sector debt is soaring. Economists say continued liquidity and foreign investment remains crucial if Turkey is to avoid a hard landing.

4:25pm

Thu September 19, 2013
Business

JPMorgan Chase To Pay Huge Fine In London Whale Settlement

Originally published on Thu September 19, 2013 7:07 pm

Transcript

AUDIE CORNISH, HOST:

JPMorgan Chase has agreed to pay a $920 million fine. It comes in response to the bank's handling of the so-called London Whale trading debacle. Last year, J.P. Morgan said that rogue traders in its London office had lost $6 billion in a failed hedging strategy, and then concealed it from executives for weeks.

In addition to the fine, regulators forced the bank to take the unusual step of admitting wrongdoing, as NPR's Jim Zarroli reports.

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12:08pm

Thu September 19, 2013
Economy

War On Poverty Still Worth Fighting?

Originally published on Thu September 19, 2013 3:15 pm

Transcript

MICHEL MARTIN, HOST:

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9:44am

Thu September 19, 2013
The Two-Way

Whale Of A Fine: JPMorgan Chase To Pay $920M In Penalties

Originally published on Thu September 19, 2013 11:39 am

The JPMorgan Chase building in London, where traders ran up huge losses.
Timur Emek AP

JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.

As we wrote earlier this week when word of the pending settlement first emerged, this all:

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9:08am

Thu September 19, 2013
Shots - Health News

Health Care Costs Are Projected To Outpace Economic Growth

Originally published on Thu September 19, 2013 9:43 am

Increased use of generic drugs caused a slight drop in the price of prescription drugs in 2012.
iStockphoto.com

The nation's health spending will bump up next year as the Affordable Care Act expands insurance coverage to more Americans, and then will grow by an average of 6.2 percent a year over the next decade, according to projections by government actuaries.

That estimate is lower than the typical annual increases before the recession hit. Still, the actuaries forecast that in a decade the health care segment of the nation's economy will be larger than it is today, amounting to a fifth of the gross domestic product in 2022.

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9:07am

Thu September 19, 2013
The Two-Way

Jobless Claims Rose Less Than Expected Last Week

Originally published on Thu September 19, 2013 11:06 am

While the number of people filing first-time claims for jobless benefits rose by 15,000 last week, the increase was less than economists expected, Bloomberg News reports.

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3:59am

Thu September 19, 2013
Economy

Fed Decision Gives Indian Market Temporary Reprieve

Originally published on Thu September 19, 2013 9:44 am

Transcript

STEVE INSKEEP, HOST:

A market rally in India is at the top of NPR's business news.

(SOUNDBITE OF MUSIC)

INSKEEP: We are all connected, of course. And like Wall Street, Indian markets soared, after the Federal Reserve's surprising decision to continue its stimulus program in the United States.

From New Delhi, NPR's Julie McCarthy reports.

JULIE MCCARTHY, BYLINE: The U.S. Fed's decision to keep unchanged its massive bond-buying program to spur the U.S. economy cheered Asian markets.

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3:59am

Thu September 19, 2013
Economy

Federal Reserve Stays The Course On Stimulus

Originally published on Thu September 19, 2013 9:44 am

Transcript

RENEE MONTAGNE, HOST:

It's MORNING EDITION, from NPR News. Good morning. I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep.

A big question for watchers of the Federal Reserve is: Why? Analysts are asking why the Fed decided to continue stimulating the economy, buying $85 billion of bonds each month.

MONTAGNE: It was widely expected the Fed would start scaling back that stimulus as the economy improved. But in a statement, the Fed said conditions are not that great.

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3:59am

Thu September 19, 2013
Politics

Sen. McConnell In No-Win Situation On Obamacare

Originally published on Thu September 19, 2013 9:44 am

Transcript

RENEE MONTAGNE, HOST:

It's MORNING EDITION, from NPR News. Good morning. I'm Renee Montagne.

STEVE INSKEEP, HOST:

And I'm Steve Inskeep.

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3:59am

Thu September 19, 2013
Business

Employees Rally In Support Of American, U.S. Airways Merger

Originally published on Thu September 19, 2013 9:44 am

Transcript

RENEE MONTAGNE, HOST:

And while markets rallied on news of the Fed's decision, airline employees rally to support a planned merger of American Airlines and U.S. Airways. Here's their message to the Department of Justice.

AMERICAN AIRLINE AND U.S. AIRWAYS EMPLOYEES: (Chanting) DOJ, say OK. DOJ, say OK. DOJ, say OK.

MONTAGNE: The pilots, flight attendants and other employees from the two carriers converged on Capitol Hill. They asked members of Congress to push the Justice Department to drop its anti-trust suit against the merger.

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