Business

4:40am

Fri June 21, 2013
Asia

China's Credit Crunch Felt Across Financial Markets

Transcript

RENEE MONTAGNE, HOST:

Alarm bells went off in China's financial system yesterday. That's because interest rates for loans that banks make to each other - like the loans we've just been hearing about - shot up, drying up credit as China's banks searched for cash. The effects reached markets here, where the Dow dropped more than 2 percent yesterday.

All of this seems to be caused by the Chinese government trying to send its banks a message. To explain what happened and why, we turn to NPR's correspondent in Shanghai, Frank Langfitt. Good morning.

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4:34am

Fri June 21, 2013
Business

Instagram Expands With Video Feature

Originally published on Fri June 21, 2013 6:18 am

This move pits Facebook against Twitter, which owns the six-second video-sharing service, Vine. Adding video brings significant change to the Instagram experience.

4:34am

Fri June 21, 2013
Business

Business News

Originally published on Fri June 21, 2013 7:01 am

Libor is the London interbank offered rate. It's important because it establishes the rate that banks pay to borrow from one another.

4:34am

Fri June 21, 2013
Business

The Last Word In Business

Originally published on Fri June 21, 2013 8:46 am

Gandolfini, who died this week while vacationing in Italy, became famous for his role in The Sopranos. Tony Soprano, the mob boss, described his job as "waste management consultant." Call it what you want, but on the job, Tony Soprano had plenty of business insights.

3:04am

Fri June 21, 2013
Shots - Health News

With Health Exchanges Poised To Open, PR Push Draws Scrutiny

Originally published on Fri June 21, 2013 9:07 pm

In San Jose, Calif., on June 6, President Obama encouraged people to sign up for insurance in the nation's largest health insurance market.
Stephen Lam Getty Images

This weekend marks 100 days until people can begin signing up for new health insurance coverage under the federal health care law. It also marks another milestone: the launch of an enormous public relations effort to find people eligible for new coverage and urge them to sign up when the time comes.

But like everything else about the health law, even this seemingly innocuous effort has been touched by controversy.

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5:12pm

Thu June 20, 2013
The Two-Way

Dow Loses 350 Points After Fed Hints It Will Stop Buying Bonds

Originally published on Thu June 20, 2013 5:25 pm

Traders work the floor of the New York Stock Exchange after the opening bell on Thursday.
John Moore Getty Images

The Dow Jones industrial average closed down more than 353 points on Thursday in a selloff sparked by uncertainty about the end of a government monetary stimulus program and a credit crunch in China.

Wall Street followed a downturn in global markets. The Standard & Poor's 500-stock index lost 2.5 percent, while the Dow and Nasdaq composite indexes both lost 2.3 percent.

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5:02pm

Thu June 20, 2013
The Salt

Why Slave Labor Still Plagues The Global Food System

Originally published on Fri June 21, 2013 10:01 am

Workers process shrimp at a factory in Thailand in 2009.
Chumsak Kanoknan Getty Images

When the State Department released its annual report on human trafficking Wednesday, we got a chilling reminder that even in 2013, slave labor is still embedded in the global food system.

As many as 27 million men, women and children are estimated to be trafficking victims at any given time, according to the report. And some of those victims, the State Department says, are later forced to work in agriculture and food processing (though no one has a good idea how many).

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2:35pm

Thu June 20, 2013
Environment

The Business And Politics Of Air Quality Regulation

In a speech in Germany Wednesday, President Barack Obama said it's time to take "bold action" on climate change. Many believe that major changes to policies on carbon emissions lie ahead, which would mean a host of new regulations for businesses.

12:26pm

Thu June 20, 2013
The Two-Way

He's An Impostor, The Navy Says About Cap'n Crunch

Originally published on Thu June 20, 2013 12:53 pm

Say it ain't so, Cap'n.
Quaker Oats Company PepsiCo

We don't know how, but we missed a major scandal brewing in the Navy for decades. It's important, so even if we're a little late to the story we still wanted to point it out: Cap'n Crunch is an impostor.

The Cap'n was unmasked on June 14 by a food blogger, who noticed the uniform he wears on cereal boxes had the stripes of a commander, not a captain. That is: A captain has four stripes on his sleeve, while a commander has three.

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11:48am

Thu June 20, 2013
Music

Free Music? Yes Please!

Originally published on Thu June 20, 2013 2:42 pm

Transcript

CELESTE HEADLEE, HOST:

Now we want to talk about the way people are getting new music across the globe. Earlier this week, hip-hop mogul Jay-Z announced he's teaming up with Samsung to release his next album "Magna Carta Holy Grail." Here he is advertising that release.

(SOUNDBITE OF JAY-Z COMMERCIAL)

JAY-Z: The idea is to really finish the album and drop it, giving it to the world at one time and then letting them share it when it goes out.

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