NPR's business news starts with J.C. Penney's revolving door.
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GREENE: J.C. Penney has ousted its high-profile CEO, Ron Johnson. The retailer recruited Johnson from Apple, to revitalize the company. But since his arrival less than 18 months ago, things at J.C. Penney have only gotten worse.
This is MORNING EDITION from NPR News. Good morning. I'm David Greene. President Obama is preparing to send budget plan to Capital Hill this week and Treasury Secretary Jack Lew will be key in selling that plan to Congress.
Right now, Secretary Lew is on another mission: to sell European leaders on the idea of easing austerity to boost economic growth. We reached Secretary Lew in Berlin. Mr. Secretary, welcome back to the program.
All right. If you happen to be listening to this program while having a mango for breakfast, there is a good chance that mango is grown in Mexico. Our neighbor to the south says it is now the world's largest exporter of fresh mangos.
India still reigns king in exports of mango products, but as NPR's Carrie Kahn reports, Mexican mangos are now grown at an astonishing rate and the American market is the main target.
This is MORNING EDITION, from NPR News. Good morning. Steve Inskeep is in Venezuela, reporting this week on that country's presidential election, and he'll be on the program tomorrow. I'm David Greene.
In a courtroom in New Orleans, the oil giant BP has begun presenting its defense in a case connected to the 2010 Gulf of Mexico oil spill. Plaintiffs include individuals and businesses hurt by the spill, as well as and state and federal governments. And they've argued BP was grossly negligent in drilling the deep water well.
But now it's BP's turn. The company argues that contractors who helped it drill should share the blame for the accident, which killed 11 workers and spilled more than four million barrels of oil.
In New York and Washington, government regulators are cracking down on insider trading, the illegal practice in which people with internal information about important company events make stock market trades before ordinary investors find out what's happening.
Main Street in Webster City, Iowa, has so far survived the 2011 closure of an Electrolux factory. But retraining funds and unemployment are running out for former workers, leaving businesses worried that a serious downturn is ahead.
Credit Andrea Hsu / NPR
What becomes of a city of 8,000 people when its main employer leaves town? What does it look like, and what does it feel like? I set out to answer those questions on a trip to Webster City, Iowa, last month, as part of my report on the Swedish appliance maker Electrolux.
Electrolux's new plant in Memphis, Tenn., is the Swedish appliance company's most modern and high-tech facility. The factory will open this summer while an Electrolux plant in Quebec, Canada, is being shuttered.
The United States lost close to 6 million manufacturing jobs between 2000 and 2009. Now, slowly, some of those jobs are coming back. Over the past three years, the U.S. economy has gained a half-million manufacturing jobs.
But even with the manufacturing recovery, there are both winners and losers — and sometimes they're created by the same company.
Buckle up — climate change could make this a bumpy flight.
That's according to a newly published study by two British scientists who say increased levels of CO2 in the atmosphere will make "clear air turbulence" — which can't be easily spotted by pilots or satellites — more common over the North Atlantic. That means the potential for gut-wrenching flights between the U.S., Europe and points east.