No surprise: The economy grew only sluggishly in April, May and June. The U.S. Commerce Department says gross domestic product — the sum of all goods and services produced in the country — grew by just 1.5 percent in the second quarter.
Originally published on Mon October 22, 2012 11:34 am
Credit McDonald's China
Here in the U.S., McDonald's food is not usually considered all that healthy. But in China, it is.
That's because Chinese consumers trust American brands more than their own, says Shaun Rein, founder of China Market Research, who studies Chinese consumer behavior. Rein says that in China, McDonald's is seen as providing safe and wholesome food.
Russell Wasendorf had hoped he'd be released on bail today, but the bail hearing has been postponed. So the former head of Peregrine Financial Group remains in jail, and the business empire he built continues to crumble.
Iowa Public Radio's Pat Blank reports Wasendorf's once fairy tale lifestyle came to an abrupt end earlier this month. He was arrested following an unsuccessful suicide attempt.
NPR's business news starts with earnings at Facebook.
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MONTAGNE: For the first time as a public company, Facebook has reported it's earnings. After its botched IPO, investors were hoping for a big, positive surprise to put the shine back on the social network. That didn't happen.
As NPR's Steve Henn reports, Facebook recorded a loss.
The Los Angeles City Council voted Tuesday to shut down all of the medical marijuana dispensaries in the city. That's no easy task. There are more than 800 of them — more than the number of Starbucks coffee shops in Los Angeles. But after years of struggling to regulate pot shops, city officials have decided to prohibit them altogether.
Facebook reported a net loss for the second quarter in its first earnings report since a bumpy initial public offering. The company's share price has fallen sharply since the first day of trading. Audie Cornish speaks with Steve Henn.
Rebeca Espinal admits with a shy smile that she's a straight-A math student. She's a high school graduate who dreamed of going to college.
Instead, Espinal, 17, is working in a Charlotte, N.C., factory that makes gas turbines and generators. She is an apprentice with the German company Siemens.
"I was planning on getting a degree in international relations, but with financial aid and how difficult it is to pay for college and everything," she says. "So when Siemens came along and gave me the offer, it was too good of an opportunity to just let it go.
Facebook reported slightly stronger than expected profits. For the second quarter, it reported a net loss of $157 million or 11 cents a share. But when it adjusted its earnings to remove stock compensation charges related to its IPO, Reuters reports, Facebook actually made 12 cents a share.