Business

1:09pm

Thu August 22, 2013
The Two-Way

Nasdaq Resumes Trading After Halt For Technical Problem

Originally published on Thu August 22, 2013 6:16 pm

Andrew Burton Getty Images

(This post was last updated at 6:14 p.m. ET)

Nasdaq has resumed trading in all securities following a prolonged halt Thursday afternoon caused by a technical glitch.

"NASDAQ will first re-open trading in symbols ZVZZT and AAIT with a 15-minute quoting period beginning at 14:30, with trading beginning at approximately 14:45. All other securities will then be released at 14:55 with a 15-minute quote only period with trading resuming at approximately 15:10," the exchange said in a statement.

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10:46am

Thu August 22, 2013
The Two-Way

Jobless Claims Rose Last Week; Still Around 5-Year Low

There were 13,000 more claims for unemployment insurance last week than during the week before, the Employment and Training Administration says.

According to the agency, 336,000 first-time claims were filed, up from 323,000 the week before.

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4:49am

Thu August 22, 2013
Business

Phyllis Diller's Estate To Be Auction Next Month

Originally published on Thu August 22, 2013 12:43 pm

Transcript

DAVID GREENE, HOST:

And today's last word in business is: Dress like Diller.

In Beverly Hills, Phyllis Diller's estate will be auctioned off next month.

RENEE MONTAGNE, HOST:

On stage, the late comedienne dressed like a disheveled, chain-smoking housewife with freakish hair - and now some lucky bidders can too. The sale will include many of her trademark props: blond fright wigs, feather boas, ankle boots and cigarette holders.

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4:49am

Thu August 22, 2013
Business

Bank Of America To Close Some Drive-Up Tellers

Originally published on Thu August 22, 2013 12:43 pm

Bank of America won't say exactly how many drive-through lanes are closing. A spokeswoman did say the decision is not a cost-cutting move but a response to the way people are banking. At branches where drive-through lanes are closing, the bank says ATMs will be available.
Justin Sullivan Getty Images

Some Bank of America branches with drive-through tellers from Georgia to Texas have already closed the lanes, according to spokeswoman Tara Burke.

She wouldn't divulge exactly how many are closing. She did say the decision is not a cost-cutting move but a response to the way people are banking.

About 13 million customers bank by mobile phone and 29 million participate in online services. Among them is 19-year-old Brittney Sprague who says, "Not too many folks will really miss the drive-through teller because everybody uses apps. It's all about the new technology."

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4:49am

Thu August 22, 2013
Business

Asian Markets Move Lower On News From Fed Meeting

Originally published on Thu August 22, 2013 12:43 pm

Transcript

DAVID GREENE, HOST:

We'll begin NPR's business news with fallout from the Fed.

(SOUNDBITE OF MUSIC)

GREENE: Stock markets across Asia fell and India's currency continued its plunge after minutes from the July meeting of the Federal Reserve were released yesterday. The records from that meeting showed that officials were comfortable with scaling back its huge bond-buying program as the economy grows stronger.

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2:53am

Thu August 22, 2013
The Salt

In Canada, Maine Lobstermen Get Both A Rival And A Tutor

Originally published on Thu August 22, 2013 12:43 pm

Sternman Scott Beede returns an undersized lobster while checking traps in Mount Desert, Maine.
Robert F Bukaty AP

There's nothing quite like the sweet, succulent taste of Maine lobster. And fishermen off the state's rocky coastline have been catching more and more of the tasty crustacean over the past five years.

But that surging supply has overwhelmed Maine's limited marketing and processing capabilities and driven down the prices paid to lobstermen.

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2:41am

Thu August 22, 2013
Business

As Housing Recovers, Lots Of Boats Rise In U.S. Economy

Originally published on Fri August 23, 2013 12:02 pm

A worker at the Cataumet Sawmill in Falmouth, Mass., where the improved housing outlook has led to more hours for employees.
Chris Arnold NPR

In just the past week we've seen a bunch of signs that the housing recovery is gaining steam. Data out Wednesday showed that existing-home sales rose to their highest level in nearly four years, while prices were up 14 percent from a year ago.

Retailers Home Depot and Lowe's both reported strong earnings growth and attributed that to the housing rebound.

And most important for the economy, homebuilders are hiring more workers and building more houses.

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6:03pm

Wed August 21, 2013
The Salt

Inside The Beef Industry's Battle Over Growth-Promotion Drugs

Originally published on Thu November 21, 2013 4:39 pm

Beef cattle stand in a barn on the Larson Farms feedlot in Maple Park, Ill.
Daniel Acker Landov

When the drug company Merck Animal Health announced plans to suspend sales of its Zilmax feed additive last week, many observers were shocked.

Yet concern about Zilmax and the class of growth-promotion drugs called beta agonists has been building for some time. In an interesting twist, the decisive pressure on Zilmax did not come from animal welfare groups or government regulators: It emerged from within the beef industry itself, and from academic experts who have long worked as consultants to the industry.

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5:38pm

Wed August 21, 2013
Technology

Facebook CEO's Internet Crusade Hopes To Bring Billions Online

Originally published on Wed August 21, 2013 6:38 pm

Facebook founder and CEO Mark Zuckerberg has teamed up with other tech giants to pursue the goal of providing Internet service to five billion people in the developing world. The group, called Internet.org, says data can be used more efficiently and participating partners can work cooperatively to make access to the web affordable in emerging economies. Zuckerberg makes the case on his Facebook page for how a global Internet infrastructure can be created. But the document doesn't have tangible commitments from Facebook or other participating companies.

1:47pm

Wed August 21, 2013
Parallels

India And Other BRIC Economies Now Facing Headwinds

Originally published on Wed August 21, 2013 5:21 pm

The Indian rupee has fallen nearly 16 percent against the dollar since May. The drop comes amid a slowdown in the country's economy. India's troubles are mirrored in other emerging economies that drove global growth for the past decade.
Zheng Huansong Xinhua /Landov

High food prices, a currency in free fall, battered investors and slowing growth: India is facing a host of problems that have taken away the sheen from an economy that's had a decade of mostly stron

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