Business

5:56am

Thu April 18, 2013
Business

Glitch Causes Foreclosure Settlement Checks To Bounce

Originally published on Thu April 18, 2013 12:22 pm

Transcript

DAVID GREENE, HOST:

All right. In recent days, the government has begun sending out checks to about 4 million people whose homes fell into foreclosure during the housing crisis. This is part of a multibillion dollar agreement with banks accused of making serious errors in processing those foreclosures.

STEVE INSKEEP, HOST:

Most of these checks are not so big. They average several hundred dollars. But still a check, an effort to make amends, so this is a bit of a problem. When some of the home owners try to cash their checks, the checks bounced.

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5:56am

Thu April 18, 2013
Business

Newtown, Ct., Businesses Suffer After Nearby School Shooting

Originally published on Fri April 19, 2013 9:24 am

Transcript

STEVE INSKEEP, HOST:

And we're also reporting on the aftermath of another tragedy. Four months after the shootings at Sandy Hook Elementary School, residents in Newtown, Connecticut are still trying to move forward. And the same goes for business owners, especially in Sandy Hook Village, just a mile from the school.

Neena Satija of member station WNPR has more.

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5:56am

Thu April 18, 2013
Business

Airline Mergers Push Fares Higher

Originally published on Thu April 18, 2013 12:22 pm

Transcript

DAVID GREENE, HOST:

NPR's business news begins with some sky-high prices.

(SOUNDBITE OF MUSIC)

GREENE: If you travel, you might have noticed airfares are going up sharply in many markets - and the reason is mergers. This could be just the beginning. Prices may keep rising if government regulators approve another merger between American Airlines and U.S. Airways.

To talk more about this, we reached Scott McCartney. He writes an airline's column for "The Wall Street Journal."

Scott, thanks for coming on the program.

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5:56am

Thu April 18, 2013
Business

Despite Flaws, Harvard Economists Stand By Research

Originally published on Thu April 18, 2013 12:22 pm

Transcript

STEVE INSKEEP, HOST:

Two prominent Harvard economists have admitted there are errors in an influential paper they wrote on government debt. This paper was widely cited in recent budget debates. But the economists insist their mistakes do not significantly change their research.

NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: In their 2010 paper, Ken Rogoff and Carmen Rinehart argued that economic growth falls significantly when a country's debt level rises above 90 percent of its Gross Domestic Product or GDP.

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9:41am

Wed April 17, 2013
The Two-Way

American: 'Near Normal' Flights After Day Of Delays

Originally published on Wed April 17, 2013 11:53 am

American Airlines passengers wait in line for a flight at Miami International Airport on Tuesday.
Joe Raedle Getty Images

American Airlines has promised passengers that Wednesday's flight schedule will be nothing like the day before, when thousands were stranded due to a glitch in the reservations system that forced hundreds of flights to be canceled or delayed.

American Airlines and American Eagle scuttled 970 flights and delayed more than 1,000 others Tuesday, The Associated Press said, citing flight-tracking service FlightAware.com.

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4:42am

Wed April 17, 2013
Business

Business News

Originally published on Wed April 17, 2013 2:46 pm

Transcript

DAVID GREENE, HOST:

NPR's business news begins with fresh but not easy.

(SOUNDBITE OF MUSIC)

GREENE: Britain's largest retailer is taking a big loss as it announces it will shut down its West Coast grocery store chain Fresh & Easy. Tesco launched the chain in 2007 with nearly 200 stores throughout California, Nevada and Arizona.

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4:42am

Wed April 17, 2013
Business

The Last Word In Business

Originally published on Wed April 17, 2013 2:46 pm

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is: out of this world - which is where the Dutch airline KLM will send two lucky customers at the start of next year -space, the final frontier.

DAVID GREENE, HOST:

OK. To win the space journey, contestants have to correctly guess how far up a high-altitude balloon can make it before popping. Piece of cake - I know that's what you're thinking, right? Guesses submitted on KLM's website will be tested on April 22nd, when the company releases a balloon in the Nevada desert.

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4:42am

Wed April 17, 2013
Business

Seeing The World Through Goolge-Colored Glasses

Originally published on Thu April 18, 2013 12:17 pm

Google co-founder Sergey Brin shows off Google Glass in February. Brin says the camera displays an external light when filming, making it difficult for a user to record surreptitiously.
Jeff Chiu AP

Google Glass is no longer merely a prototype. The company began delivering its high-tech glasses to a select group of test customers Tuesday.

The gadget looks kind of like a pair of eyeglasses, except it doesn't always have lenses and it has a tiny screen, about the size of the end of my pinkie, perched just above and to the right of the wearer's right eye.

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4:42am

Wed April 17, 2013
Business

American Airlines Blames Computers Issues For Cancellations

Originally published on Wed April 17, 2013 2:46 pm

Transcript

DAVID GREENE, HOST:

Well, yesterday was not a day that you wanted to be traveling on American Airlines. The carrier cancelled all of its main routes for several hours, and also many of its commuter flights, as well. Almost 2,000 flights were infected in all. American blames computer networking problems.

NPR's Wendy Kaufman reports.

(SOUNDBITE OF CROWD CHATTER)

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4:42am

Wed April 17, 2013
Economy

IMF Trims Its Global Growth Forecast

Originally published on Wed April 17, 2013 2:46 pm

Transcript

STEVE INSKEEP, HOST:

The International Monetary Fund has trimmed its forecast for global growth.

NPR's John Ydstie reports the outlook was adjusted downward, largely because so much of Europe is still in recession.

JOHN YDSTIE, BYLINE: The IMF projects the Euro area economy will shrink three-tenths of a percent this year, but return to positive growth next year.

Meanwhile, the IMF forecast, called the World Economic Outlook, predicts the U.S. will grow just under two percent this year and around three percent in 2014.

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