Business

4:31pm

Wed July 17, 2013
The Two-Way

'We're Here To Stay' Says Newly Confirmed Consumer Watchdog

Originally published on Wed July 17, 2013 7:11 pm

Richard Cordray, director of the Consumer Financial Protection Bureau.
Ron Sachs/pool Getty Images

One day after his two years in limbo ended and he was confirmed by the Senate as head of the Consumer Financial Protection Bureau, Richard Cordray told NPR that though political bickering held up his nomination he now believes he has bipartisan support for the bureau's work.

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2:51pm

Wed July 17, 2013
All Tech Considered

Clever Hacks Give Google Glass Many Unintended Powers

Originally published on Wed July 17, 2013 8:55 pm

Stephen Balaban has re-engineered his Google Glass to allow for facial recognition.
Courtesy of Stephen Balaban

At Philz Coffee in Palo Alto, Calif., a kid who looks like he should still be in high school is sitting across from me. He's wearing Google Glass. As I stare into the device's cyborg eye, I'm waiting for its tiny screen to light up.

Then, I wait for a signal that Google Glass has recognized my face.

It isn't supposed to do that, but Stephen Balaban has hacked it.

"Essentially what I am building is an alternative operating system that runs on Glass but is not controlled by Google," he said.

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2:19pm

Wed July 17, 2013
The Two-Way

Economy's Growing At 'Modest To Moderate Pace,' Fed Says

Part I of the news from the Federal Reserve on Wednesday was Chairman Ben Bernanke's signal to the financial markets that the central bank won't be shifting away from its "easy money" policy just yet.

Part II was just released. In its latest "Beige Book" review of economic conditions around the nation the Fed says that:

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1:25pm

Wed July 17, 2013
The Salt

Your Love Of Quinoa Is Good News For Andean Farmers

Originally published on Wed July 17, 2013 6:15 pm

Farmer Geronimo Blanco shows his quinoa plants in Patamanta, Bolivia, in February. A burgeoning global demand for quinoa has led to a threefold price increase since 2006.
Juan Karita AP

Quinoa lovers have been put on a bit of a guilt trip with stories suggesting that the increased demand in the U.S. has put the superfood out of reach for those living closest to where it's grown.

How can poor Bolivians in La Paz afford to pay three times more for quinoa than they would pay for rice, critics have asked?

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12:45pm

Wed July 17, 2013
The Two-Way

Asiana Decides Not To Sue San Francisco TV Station

Originally published on Thu July 25, 2013 12:34 pm

Passengers move away from the wreckage of Asiana Airlines Flight 214 after the plane's July 6 crash-landing in San Francisco. This photo was taken by a passenger.
Eugene Anthony Rah Reuters/Landov

Asiana Airlines has decided not sue the Oakland television station that aired the bogus names of the flight crew piloting Flight 214, a Boeing 777 that crash-landed at San Francisco International Airport earlier this month.

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9:15am

Wed July 17, 2013
The Two-Way

Bernanke: Fed's Monetary Policies Not On 'A Preset Course'

Originally published on Wed July 17, 2013 12:22 pm

Federal Reserve Board Chairman Ben Bernanke speaks during a news conference at the Federal Reserve in Washington, D.C., last month.
Alex Wong Getty Images

In testimony before the House Committee on Financial Services, Federal Reserve Chairman Ben Bernanke said that when and how the Fed winds down its stimulus programs will depend on economic conditions.

Here's the key passage from Bernanke's prepared remarks:

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4:51am

Wed July 17, 2013
Business

Yahoo's Stock Soars, Sales Remain Flat

Originally published on Wed July 17, 2013 5:08 am

There's been excitement on Wall Street about a turnaround at Yahoo since Marissa Mayer became head of the company last year. Mayer has completed high profile acquisitions and sought to improve worker morale. Second quarter revenues missed expectations as Yahoo struggled to corral advertising dollars.

4:42am

Wed July 17, 2013
Europe

Civil Servants In Greece 'Sit-In' To Fight For Their Jobs

Originally published on Wed July 17, 2013 7:57 am

Greece's two largest unions held a general strike and anti-austerity demonstrations on Tuesday. Now, the country's parliament will debate and vote on deep civil service cuts. Greece must downsize the public sector in order for it to keep getting international bailout loans.

4:42am

Wed July 17, 2013
Business

Fed Chairman Ben Bernanke To Address Members Of Congress

Originally published on Wed July 17, 2013 6:50 am

It's semi-annual testimony time for Federal Reserve Chairman Ben Bernanke. Sounds dry but lots of people will be hanging on his every word these next two days. Markets have been on a wild ride since Bernanke delivered a news conference last month. In that speech he laid out plans to scale back the Fed's bond-buying program.

4:42am

Wed July 17, 2013
Business

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 5:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

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