Business

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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4:54pm

Tue April 16, 2013
The Two-Way

American Airlines Grounds All Flights Due To Computer Glitch

American Airlines flights were grounded for two hours on Tuesday due to a glitch in the reservation system, the airline says.
Tom Pennington Getty Images

A computer glitch in the reservations system at American Airlines caused all of the carrier's flights to be grounded for at least two hours on Tuesday.

"American's reservation and booking tool, Sabre is offline," American Airlines spokeswoman Mary Frances Fagan told Reuters in an email. "We're working to resolve the issue as quickly as we can. We apologize to our customers for any inconvenience."

NPR's Wade Goodwyn reports that the outage was announced about 2:30 p.m. Eastern time.

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10:09am

Tue April 16, 2013
The Two-Way

IMF Lowers 2013 Economic Growth Forecasts

Originally published on Tue April 16, 2013 12:30 pm

The IMF says economic woes in places like Cyprus will tamp down global growth.
Patrick Baz AFP/Getty Images

The International Monetary Fund has lowered its projections for global economic growth, including in the United States, citing sharp cuts in government spending and the struggling eurozone.

The Washington, D.C.-based international lender's World Economic Outlook shaved its 2013 forecast to 3.3 percent from 3.5 percent. It also trimmed its projection for 2014 to 4 percent from 4.1 percent.

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8:51am

Tue April 16, 2013
The Two-Way

Housing Starts Surged In March, Pace Is Fastest In 5 Years

Originally published on Tue April 16, 2013 12:52 pm

A home under construction in Provo, Utah, earlier this year.
George Frey Landov

There was a 7 percent surge in housing starts last month, the Census Bureau and Department of Housing and Urban Development report.

As The Associated Press notes, the pace of construction — 1.04 million starts, at an annual rate — is the fastest in nearly five years and is another sign that the housing sector continues to recover from its 2007-08 crash.

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5:29am

Tue April 16, 2013
Business

Business News

Originally published on Tue April 16, 2013 2:04 pm

Transcript

STEVE INSKEEP, HOST:

NPR's business news begins with gold losing some of its glitter.

(SOUNDBITE OF MUSIC)

INSKEEP: The explosions in Boston and a report showing China's economy to be slowing caused upheaval in many markets yesterday. But gold took the spotlight when its price dropped by more than 9 percent by the end of trading. This is the sharpest daily decline in the gold price in 30 years. Analysts say it suggests investors are losing faith in the precious metal as a safe haven.

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5:29am

Tue April 16, 2013
Business

The Last Word In Business

Originally published on Tue April 16, 2013 2:04 pm

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is Pulitzer - or Pulitzer, as they used to pronounce it when I was growing up in Indiana.

Yesterday, the Pulitzer Prize winners were announced. The New York Times led the way, taking four awards for its reporting.

DAVID GREENE, HOST:

And in the arts category, this year marked the return of the prize for fiction. No winner was chosen in 2012. This year, Adam Johnson took the fiction prize for his book, "The Orphan Master's Son."

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