Business

4:24am

Tue May 21, 2013
Business

CEO Cook To Defend Apple Before Senate Committee Hearing

Originally published on Tue May 21, 2013 11:13 am

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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4:22am

Tue May 21, 2013
Business

JPMorgan Shareholders Consider Splitting CEO, Chairman Jobs

Originally published on Tue May 21, 2013 11:13 am

Transcript

STEVE INSKEEP, HOST:

JPMorgan Chase holds its annual shareholder meeting today in Tampa, Florida, and the shareholders will vote on a key measure: a proposal to strip the CEO, Jamie Dimon, of his other title, chairman of the board. A growing number of companies have split the CEO and chairman roles.

Shareholder activists and corporate governance experts say having a balance of power at the top helps to reduce risk. The bank and its supporters disagree. NPR's Yuki Noguchi reports.

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2:59am

Tue May 21, 2013
Parallels

The Global Afterlife Of Your Donated Clothes

Originally published on Tue May 21, 2013 9:04 pm

Worker Charles Lee sorts through clothes at Mac Recycling near Baltimore. Textile recycling is a huge international business, and a small facility like Mac ships about 80 tons of clothes each week to buyers around the world.
Jackie Northam NPR

On a bright and warm Saturday morning, there's a steady flow of people dropping off donations at Martha's Table, a charity in downtown Washington, D.C. A mountain of plastic and paper bags stuffed with used dresses, scarves, skirts and footwear expands in one corner of the room. Volunteers sort and put clothes on hangers. They'll go on sale next door, and the proceeds will help the needy in the area.

It's a scene played out across the U.S.: people donating their old clothes, whether through collection bins or through large charities, to help others.

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5:28pm

Mon May 20, 2013
Business

Boeing's Dreamliner Returns To U.S. Skies After Grounding

Originally published on Mon May 20, 2013 9:00 pm

Transcript

ROBERT SIEGEL, HOST:

Boeing's 787 jetliners are returning to the skies. Four months ago, the entire fleet was grounded following serious battery problems on two jets, but the batteries have now been redesigned. Planes have been retrofitted, and airlines are beginning to put them back into service. Today, United Airlines, the only U.S. carrier flying the 787, put two of them back into service. NPR's Wendy Kaufman reports.

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5:28pm

Mon May 20, 2013
Business

What Makes Start-Up Tumblr Worth $1.1 Billion?

Originally published on Tue May 21, 2013 8:54 am

Transcript

MELISSA BLOCK, HOST:

From NPR News, it's ALL THINGS CONSIDERED. I'm Melissa Block.

ROBERT SIEGEL, HOST:

I'm Robert Siegel. Some big numbers are being thrown around in Silicon Valley today. This morning, Yahoo CEO Marissa Mayer announced that Yahoo is buying Tumblr, a social media and blogging startup. The price, $1.1 billion and that for a site which last year earned a tiny fraction of that amount in revenue.

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4:49pm

Mon May 20, 2013
All Tech Considered

With New Xbox, Microsoft Makes A Bigger Play For Living Room

Originally published on Mon May 20, 2013 9:00 pm

An Xbox 360 video presentation at the E3 Media and Business Summit in Los Angeles in 2008. Microsoft is scheduled to introduce its newest Xbox on Tuesday.
Ric Francis AP

Microsoft hasn't exactly had a great couple of years.

Its new Windows 8 operating system was held responsible for the drop in PC sales last quarter. Sales of its Windows Phones lag far behind both the iPhone and Google's Android phones.

The light in the darkness for Microsoft has been the Xbox 360, which has been the top-selling game console for over two years — beating out both the Nintendo Wii and Sony's PlayStation. On Tuesday, Microsoft is expected to announce a new version of the Xbox.

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4:29pm

Mon May 20, 2013
All Tech Considered

Yahoo's Other Billion Dollar Bets: Where Are They Now?

Originally published on Mon May 20, 2013 5:57 pm

GeoCities employees pose for a picture in 1999 after the Yahoo acquisition was announced. Yahoo quietly shut down GeoCities a decade later.
Mark J. Terrill AP

Yahoo's $1.1 billion purchase of Tumblr could be considered a bargain compared with its other big-dollar bets. The company's history is dotted with pricey purchases of once-hot Web properties that had more promise than eventual purpose. A look back:

GeoCities, 1999: $3.7 Billion

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3:27pm

Mon May 20, 2013
The Salt

Washington State Butcher Spikes Pig Feed With Weed

Originally published on Wed May 22, 2013 10:25 am

William von Schneidau, who owns the BB Ranch butcher shop at Pike Place Market in Seattle, has made prosciutto from pigs fed marijuana.
Courtesy of BB Ranch

William von Schneidau, an intrepid butcher in Seattle, is giving a whole new meaning to "potbelly pig." Lately, he's been feeding marijuana refuse to the pigs he turns into prosciutto for BB Ranch, his butcher shop in the city's famous Pike Place Marke

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11:39am

Mon May 20, 2013
Planet Money

Ask A Banker: Capital, Capital!

Originally published on Tue May 21, 2013 1:09 pm

Paul Goyette Flickr

Hi, it's Ask a Banker! You should send us questions on email or Twitter, but this particular question, though timely, was made up by me, sorry:

Q. Should banks be required to hold much more capital as a safety net? Or should they be putting that money to productive use by lending it out instead?

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8:41am

Mon May 20, 2013
The Two-Way

Pledging Not To 'Screw It Up,' Yahoo Seals Deal For Tumblr

Originally published on Mon May 20, 2013 9:06 am

They're coming together: Yahoo will pay $1.1 billion to acquire Tumblr.
Fred Dufour AFP/Getty Images

The news that broke Sunday is now official.

Yahoo confirmed early Monday morning that it is buying Tumblr in a deal worth about $1.1 billion. "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo added.

In its statement announcing the deal, Yahoo says that:

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