Business

4:45am

Tue July 2, 2013
Economy

Portugal's Budget Austerity May Do More Harm Than Good

Originally published on Tue July 2, 2013 8:36 am

Transcript

DAVID GREENE, HOST:

I always wondered where some of those stock market symbols came from.

To Europe now. Portugal's finance minister - the architect of the country's economic bailout deal with the European Union - has resigned. In stepping down, he cited the backlash against the policies he imposed at the urging of European lenders.

NPR's Lauren Frayer reports on this latest turn in the debate over whether severe budget austerity does more harm than good.

Read more

4:45am

Tue July 2, 2013
Business

Business News

Originally published on Tue July 2, 2013 8:36 am

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts on a high note.

(SOUNDBITE OF MUSIC)

MONTAGNE: Steinway Musical Instruments announced Monday that it would be acquired by the private equity firm Kohlberg and Company in a deal worth $438 million. Kohlberg says it plans to build on Steinway's 160 years of piano-making tradition and expand its sales globally.

Read more

4:45am

Tue July 2, 2013
Business

Former Energy Secretary Wants Power Generation Decentralized

Originally published on Tue July 2, 2013 8:36 am

Transcript

RENEE MONTAGNE, HOST:

President Obama announced, last week, a hugely ambitious plan to reduce greenhouse gas emissions and push the country towards cleaner energy. Right now, just nine percent of our energy consumption comes from renewable sources.

Former U.S. secretary of energy Steven Chu would like to see us get to 50 percent by the middle of the century. Chu left the cabinet in April, but even before that, he began talking to utility companies could adopt a radically different business model.

Read more

4:45am

Tue July 2, 2013
Africa

Obama Announces Trade Africa Initiative

Originally published on Tue July 2, 2013 8:36 am

Transcript

DAVID GREENE, HOST:

And farther south on the African continent, President Obama is wrapping up a three-country tour. He's in Tanzania now, on the coast of the Indian Ocean. NPR's Ari Shapiro is travelling with the president and reports on Obama's first day in the Tanzanian city of Dar es Salaam.

Read more

4:45am

Tue July 2, 2013
Television

Local TV Stations Snapped Up In Buying Sprees

Originally published on Tue July 2, 2013 8:36 am

Transcript

DAVID GREENE, HOST:

This is MORNING EDITION, from NPR News. Good morning. I'm David Greene.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

The Chicago-based Tribune Company, newly out of bankruptcy, is trying to sell off its newspaper holdings. Yet even as the company withdraws from print media, it's making a big push into local television, following the lead of other major media players.

NPR's David Folkenflik reports

Read more

4:45am

Tue July 2, 2013
Economy

Economic Squeeze Plays Out On Egyptian Streets

Originally published on Tue July 2, 2013 8:36 am

David Greene talks to Farah Halime, a Cairo-based financial journalist who writes about Egypt's economy. Whether President Morsi caves to protesters' demands to step down, whoever ends up running the country will have to deal with a terribly deteriorating economy. Halime's blog is called the RebelEconomy.com.

4:45am

Tue July 2, 2013
Business

The Last Word In Business

Originally published on Tue July 2, 2013 8:36 am

Transcript

DAVID GREENE, HOST:

And our last word in business today is sure to get you in an Empire State of mind.

Many city-dwellers have embraced Uber. This is an app that allows you to call a taxi or a town car and then track its timely arrival to your location.

RENEE MONTAGNE, HOST:

Read more

3:23am

Tue July 2, 2013
Shots - Health News

To Make Hearing Aids Affordable, Firm Turns On Bluetooth

Originally published on Tue July 2, 2013 10:38 am

Sound World Solution's hearing device lets a user customize its settings using a Bluetooth connection and a smartphone.
Courtesy of Sound World Solutions

As many as 300 million people around the world need hearing aids. The vast majority of the 7 million people who get them annually are in the U.S. and Europe.

One big reason is cost. On average, a set of hearing aids rings up a tab of about $4,000. Most insurance policies don't cover them.

A company called Sound World Solutions is trying to do something about the limited reach of hearing aids by creating a high-quality hearing device that costs less than a tenth the normal price.

Read more

3:29pm

Mon July 1, 2013
The Two-Way

Top Vatican Bank Officials Resign

Originally published on Mon July 1, 2013 8:42 pm

Ernst von Freyberg, president of the Vatican Bank Institute for Works of Religion, or IOR, talks with The Associated Press during an interview June 10 at his office in Vatican City. He was named the bank's interim director on Monday after the director and the deputy director both resigned.
Domenico Stinellis AP

Two top officials of the Vatican bank resigned Monday just days following the arrest of a senior cleric with ties to the institution after police caught him with the equivalent of about $26 million in cash that they say he was trying to bring into Italy from Switzerland.

Read more

3:09pm

Mon July 1, 2013
Parallels

An Online Upstart Roils French Media, Politics

Originally published on Mon July 1, 2013 6:11 pm

Edwy Plenel, head of the online investigative journalism website Mediapart, at his Paris office in April. The paper has attracted paying subscribers and is making a profit.
Francois Mori AP

Every week, it seems, a new scandal is unearthed by the upstart, online newspaper Mediapart. The most recent bomb was that President Francois Hollande's budget minister was evading taxes when he was supposed to be cracking down on tax cheats. After vehemently denying the allegations, in the face of overwhelming evidence, Jerome Cahuzac was forced to resign.

Read more

Pages