A pair of prominent hedge fund managers have taken opposing positions on the nutritional-supplement company Herbalife. Bill Ackman of Pershing Square Capital Management says the multilevel-marketing company is a pyramid scheme and a bad investment. He's shorting the stock. Dan Loeb of hedge fund Third Point says Herbalife is a good investment. He's taken an 8.2 percent stake in the company and is betting that its shares will rise. Melissa Block talks with David Kestenbaum of the Planet Money team.
Millions of computer users who run the most recent versions of Oracle's Java software should disable the product owing to security flaws, says the cybersecurity section of the Department of Homeland Security. The agency says, "Web browsers using the Java 7 plug-in are at high risk."
The Consumer Financial Protection Bureau released new rules for mortgages this week. But neither the banking industry, nor consumer groups are completely happy. Host Michel Martin gets a sense of the current state of mortgages and foreclosures with real estate columnist Ilyce Glink and Keli Goff, political correspondent for The Root.
Originally published on Fri January 11, 2013 11:29 am
By Scott Hensley
Drugmaker Merck just stuck a fork in a vitamin-based drug to prevent heart disease and stroke.
The company is withdrawing Tredaptive, a long-acting pill combining niacin (No. 3 in the long list of B vitamins) and laropiprant, a chemical that reduces the unpleasant skin flushing caused by high doses of niacin.
Saying that "we are confident about the safety of this aircraft, but we are concerned about these incidents," Federal Aviation Administration Administrator Michael Huerta confirmed Friday morning that his agency has ordered a review of Boeing's new 787 Dreamliner after a series of problems in recent days, including fuel leaks and an electrical fire.
The planes are not being grounded. Boeing says it welcomes the review and is confident in the aircraft's safety.
Five years ago today, Bank of America announced it was buying the troubled subprime mortgage lender Countrywide Financial for $40 billion. At the time, the financial crisis had not fully revealed itself, and many people thought Bank of America was getting a good deal. Instead, the acquisition has turned into a never-ending legal and financial nightmare. NPR's Jim Zarroli reports.
That big consumer electronics show in Las Vegas ends today. And while big tech firms like Google and Apple did not attend, an increasingly diverse range of companies took their place. With more and more devices connecting to the Internet, many companies are flocking to this festival of gadgets, hoping to bring all the appliances in your home online. NPR's Steve Henn reports.
And today's last word in business is being set to music. Truth really is stranger than fiction, which is how a TV interview with President Richard Nixon could become a famous play, and how The New Yorker writer Lawrence Wright could create a forthcoming play on the Camp David accords. Now, an international Twitter war is becoming an opera.
RENEE MONTAGNE, HOST:
Last summer, The New York Times columnist Paul Krugman criticized the economic austerity of Estonia.
One of Spain's most troubled banks announced, this week, that it's laying off half of its staff - after being sold to a competitor for just one euro. Crippled by the housing market's collapse, Spanish banks are living off bailout loans from Europe. Those loans come with strings attached, including massive layoffs and strict new regulatory measures by Spain's central bank.