Business

8:11am

Fri March 22, 2013
The Two-Way

Cyprus Gets Cold Shoulder From Russia On Bailout Aid

Originally published on Fri March 22, 2013 1:47 pm

An employee of Cyprus Laiki (Popular) Bank reacts as he takes part in a protest outside Parliament on Friday in the capital, Nicosia.
Patrick Baz AFP/Getty Images

As a deadline on Cyprus to come up with a financial bailout plan nears, a possible rescue from Russia looks to have fallen apart, leaving the island nation few options for staving off default.

Russian Finance Minister Anton Siluanov said as far as Moscow was concerned "the talks have ended," but Prime Minister Dmitry Medvedev left the door open, saying aid from Moscow would be contingent on Cyprus gaining European Union backing for its other money-raising ideas.

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4:38am

Fri March 22, 2013
Business

Census Bureau: Americans Burdened By High Debt

Originally published on Fri March 22, 2013 10:55 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with high debt and low wealth.

(SOUNDBITE OF MUSIC)

INSKEEP: Since the financial crisis, many Americans have been saving money and paying down debt. Many are in better financial shape than a few years ago. But when you look at the longer term, it is clear that Americans as a whole have not regained all the ground they lost.

The Census Bureau compared Americans in 2011 with their wealth and debt burdens in that seemingly long-ago year, 2000.

NPR's John Ydstie reports.

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4:38am

Fri March 22, 2013
Business

The Last Word In Business

Originally published on Fri March 22, 2013 10:55 am

Transcript

STEVE INSKEEP, HOST:

What better place to play video games than in a man cave? That's our last word in business today. It's how real estate website Zillow describes a Cold War-era bomb shelter in South Florida, now on sale for just under half a million dollars - 30-inch thick, steel-reinforced, concrete walls; decontamination showers; and 17-foot high ceilings.

There's even some milk solids and canned sugar left over, and it allegedly could be turned into a home. The listing agent describes the property as something out of an old Japanese Godzilla movie.

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4:38am

Fri March 22, 2013
Economy

Examining The Banking Crisis In Cyrpus

Originally published on Fri March 22, 2013 10:55 am

The tiny Mediterranean island-nation of Cyprus is teetering on the edge of insolvency after rejecting a tax on bank deposits imposed by the E.U. and IMF in exchange for a bailout. Cyprus has until Monday to approve a new bailout plan.

4:38am

Fri March 22, 2013
Education

Chicago Teachers, Parents Riled By Plan To Close 54 Public Schools

Originally published on Sat March 23, 2013 12:43 am

Chicago Teachers Union President Karen Lewis speaks outside Mahalia Jackson Elementary School in Chicago about the planned closing of 54 public schools. Opponents say the plan will disproportionately affect minority students in the nation's third-largest school district.
M. Spencer Green AP

In Chicago, officials have released a long-feared list that places more than 50 schools on the chopping block. The public school district faces a $1 billion shortfall, and the mayor says many of the city's school buildings are half empty. Some angry parents and teachers say the plan will harm children and they'll fight to keep the schools open.

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3:01am

Fri March 22, 2013
Movies

Not Doing So 'Boffo,' 'Daily Variety' Drops Print Edition

Originally published on Fri March 22, 2013 10:55 am

Print versions of Daily Variety, like this one from 2003, will no longer be available on L.A. newsstands. Variety will continue online and in a print weekly, but the daily print edition is being dropped.
Kevin Winter Getty Images

For eight decades, Daily Variety has been a Hollywood must-read for everyone from studio heads to actors looking for a big break. But the days of assistants running out to grab the "trades" are over: This week, the Los Angeles institution published its last daily edition.

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3:00am

Fri March 22, 2013
Business

Google's Eric Schmidt Heads To Another Isolated Asian Nation

Originally published on Fri March 22, 2013 10:55 am

Eric Schmidt, Google's executive chairman and former CEO, stands near a statue of the late North Korean leader Kim Il Sung in Pyongyang in January. He's headed now to Myanmar, another largely untapped market.
David Guttenfelder AP

Google's executive chairman, Eric Schmidt, who went to North Korea in January, is making a short visit Friday to Myanmar, also known as Burma.

Why is the senior executive of a U.S. technology powerhouse visiting some of the poorest and least wired countries in Asia?

Schmidt will be the first top U.S. executive to travel to the Southeast Asian nation since it began emerging from decades of international isolation under a military dictatorship.

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3:00am

Fri March 22, 2013
All Tech Considered

After Conquering Consoles, Hard-Core Gaming Shifts To Mobile

Originally published on Fri March 22, 2013 10:55 am

Gears of War: Judgment hit stores on Tuesday.
Courtesy Microsoft Studios

This generation of video game consoles will be remembered for over-the-top, knock-you-out-of-your-seat extravaganza games like Halo, Call of Duty — and Gears of War, a juggernaut of a game. The first three Gears of War sold 19 million units, making it a $1 billion franchise. And the latest, Gears of War: Judgment, has just hit stores at a crucial time in the video game industry — sales are down, new Xbox and PlayStation consoles are due out, and mobile gaming is growing.

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6:28pm

Thu March 21, 2013
The Salt

Did Congress Just Give GMOs A Free Pass In The Courts?

Originally published on Tue March 26, 2013 2:58 pm

Farmers harvest a sugar beet crop in Gilcrest, Colo.
Matthew Staver Landov

Tucked inside a short-term funding measure that Congress approved Thursday is a provision that critics are denouncing as a "Monsanto Protection Act."

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4:27pm

Thu March 21, 2013
Around the Nation

Florida Pitches New Facilities To Clinch Spring Training

Originally published on Thu March 21, 2013 6:00 pm

Baseball fans watch an exhibition spring training game between the Washington Nationals and the New York Mets in Port St. Lucie, Fla. Spring training contributes $35 million to the local economy.
Julio Cortez AP

For baseball fans, spring training is a time for renewed hopes and a reminder that winter is almost over. But for the major league teams and Arizona and Florida communities, spring training is big business. In Florida, 1.5 million fans attend spring training games with an estimated $750 million annual economic impact, and the state is working to keep the teams from fleeing.

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