By now, everyone's heard of Kickstarter, the website that lets people with an idea or project ask other people to contribute toward realizing it. It's called crowd funding, and this summer's big success story was musician Amanda Palmer. She raised more than $1 million to produce her new album. But crowd funding doesn't work for every musician every time.
Some other news. Discover Financial Services has agreed to refund $200 million to more than three and a half million credit card customers. A federal investigation found the company used deceptive marketing practices. It's one of the first major enforcement actions by the new Consumer Financial Protection Bureau.
NPR's Ailsa Chang reports that Discover allegedly charged customers for add-on services they never ordered.
NPR's business news starts with: somebody restock the shelves.
Apple says it sold more than 5 million of its new iPhone 5s over the weekend. The company says it has now run out of its initial stock. On its debut weekend, the iPhone 5 sold better than the last version of the iPhone. But sales were not quite as strong as many analyst expectations, and there are concerns about Apple's ability to keep up with demand.
Managing Director of the International Monetary Fund Christine Lagarde says recent actions by the European Central Bank mark a positive turning point in Europe's financial crisis. But she warned that uncertainty elsewhere will continue to slow the pace of the global recovery.
Back in July, the IMF was forecasting world growth of just under 4 percent for next year. The group's economists will issue a new forecast in a couple of weeks. Lagarde said the new projection still foresees a gradual recovery, but it will shave a few tenths of a percent off global growth.
The trading pits at the Chicago Board of Trade and the Mercantile Exchange have long been potent symbols of American capitalism. And they used to be as rough and tumble as the city itself, where burly men bought and sold commodities like hogs, cattle, corn and soybeans.
Trading volume has gone up considerably in recent years, but Chicago's trading pits are tamer places today — the result of a revolution futures trading has undergone over the past quarter century. Much of the trading has left the pits and gone electronic.
You know that ad campaign for pork, the one that called it "the other white meat?" There's a fascinating behind-the-scenes story about that slogan, revealed in a new lawsuit that was just filed this morning by the Humane Society of the United States.
Starting a new car company from scratch isn't tried often in the United States. The last time one was truly successful was about 100 years ago. And Tesla Motors, a startup from Silicon Valley, faces some unusual hurdles.
Still, despite the challenges Tesla faces, the electric car company and its CEO, Elon Musk, have gotten further than most automotive entrepreneurs.