Business

5:55pm

Fri September 20, 2013
The Two-Way

BlackBerry To Slash Workforce Amid $1 Billion Loss

Originally published on Fri September 20, 2013 6:30 pm

BlackBerry CEO Thorsten Heins officially unveils the Z10 smartphone in January.
Timothy A. Clary AFP/Getty Images

BlackBerry on Friday issued an early earnings report accompanied by some bad news for its workers — a nearly $1 billion quarterly loss and a 40 percent layoff that amounts to about 4,500 employees.

The AP reports:

"The stock dropped 19 percent to $8.50 after reopening for trading. Shares had been halted pending the news.

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12:46pm

Fri September 20, 2013
All Tech Considered

Tech Week That Was: New iOS Design And Grand Theft Auto

Originally published on Fri September 20, 2013 1:47 pm

Grand Theft Auto V raked in more than $800 million in sales in its first 24 hours on the shelves.
Mario Tama Getty Images

It's time for the weekly roundup of what happened here on All Tech and on our airwaves, and a look back at the big conversations in technology.

ICYMI

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10:24am

Fri September 20, 2013
The Two-Way

Joy Covey, Who Was Key To Amazon.com's Success, Dies

"Joy Covey, who helped take Amazon.com Inc. public as the Internet retailer's chief financial officer, died Wednesday when her bicycle collided with a van on a downhill stretch of road in San Mateo County," the Los Angeles Times writes.

She was 50.

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4:47am

Fri September 20, 2013
Business

Hiroshi Yamauchi Dies At 85, Expanded Nintendo

Originally published on Fri September 20, 2013 6:58 am

In 1949, Hiroshi Yamauchi left school to take over Nintendo after his grandfather died. He made it a dominate force in the game industry. He retired as president in 2002. He died on Thursday in Japan.

4:47am

Fri September 20, 2013
Business

Nation's Largest Mortgage Provider Downsizes

Originally published on Fri September 20, 2013 6:47 am

Wells Fargo has told 1,800 employees their services will no longer be needed in the bank's mortgage unit. The bank already cut more than 2,000 jobs in that unit last month. Wells Fargo cites lower demand for refinancing because of higher mortgage rates.

4:40am

Fri September 20, 2013
Business

Why Companies And CEOs Rarely Admit To Wrongdoing

Originally published on Fri September 20, 2013 11:56 am

Transcript

RENEE MONTAGNE, HOST:

JPMorgan Chase will have to pay more than $900 million in fines for the way it handled the London Whale trading scandal. Last year, the company revealed that its traders in London had lost $6 billion, and then concealed the losses from executives.

While large fines aren't unusual, it is unusual that federal regulators forced the bank to admit to wrongdoing. But this is exactly what happened. NPR's Sonari Glinton has more.

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4:40am

Fri September 20, 2013
All Tech Considered

Female Fans Love New Grand Theft Auto Despite Demeaning Content

Originally published on Fri September 20, 2013 2:02 pm

A close view of the packaging of Grand Theft Auto V at the midnight opening at the HMV music store in London on Tuesday. It made history with a record $800 million in sales on its first day. This version continues to generate controversy over its glorification of violence, drugs and its demeaning portraits of women.
Leon Neal AFP/Getty Images

Grand Theft Auto made video game history this week: The latest version of the game had a record $800 million in sales on its first day. As with past versions, the game is generating controversy over its glorification of violence and drugs and its demeaning portrayal of women.

But around 15 percent of its fans are women, who find much to like about the game, even if they do have some ambivalence about it.

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3:31am

Fri September 20, 2013
Planet Money

Cashing In On The Fantasy-Sports Economy

Originally published on Tue September 24, 2013 4:04 pm

Lots of fantasy managers are taking out insurance on Adrian Peterson this year.
Charles Rex Arbogast AP

There's big money in fantasy sports. Last year, alone, people paid $1.7 billion to play in fantasy leagues. With all that money sloshing around, a fantasy economy has sprung up, giving rise to real businesses. Here are four of them.

The Insurance Company

Henry Olszewski founded Fantasy Sports Insurance in 2008 — the year the financial system nearly collapsed. And, more importantly, the year New England Patriots quarterback Tom Brady suffered a serious hit to the knee.

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3:28am

Fri September 20, 2013
It's All Politics

House Nears Vote To Fund Government, Defund Obamacare

Originally published on Fri September 20, 2013 11:18 am

House Speaker John Boehner, R-Ohio, talks about the deadline to fund the government Thursday on Capitol Hill.
J. Scott Applewhite AP

The Republican-controlled House is set to vote Friday on a stopgap spending bill to keep the government open for business through the middle of December. And the White House has already said if it makes it to the president's desk, he'll veto it. That's because the bill also would defund the Affordable Care Act.

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12:08am

Fri September 20, 2013
Environment

EPA Wants To Limit Greenhouse Gases From New Coal Power Plants

Originally published on Fri September 20, 2013 8:11 pm

Mississippi Power's Kemper County energy facility near DeKalb, Miss., seen under construction last year. Carbon dioxide will be captured from this plant and used to stimulate production of oil from existing wells.
Rogelio V. Solis AP

The Environmental Protection Agency's second stab at a proposal to set the first-ever limits on greenhouse gas emissions from new power plants would make it impossible for companies to build the kind of coal-fired plants that have been the country's biggest source of electricity for decades.

Under the proposal, released Friday, any new plant that runs on coal would be permitted to emit only about half as much carbon dioxide as an average coal plant puts into the air today.

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