Business

5:12am

Thu December 6, 2012
Around the Nation

Post Sandy: Atlantic City Wants Its Tourists Back

Originally published on Thu December 6, 2012 4:24 pm

Atlantic City's boardwalk, with its shops, restaurants, casinos and hotels, was mostly protected during Hurricane Sandy by a dune restoration project. But TV images of one small section that was damaged gave the impression that the whole thing was destroyed.
David Schaper/NPR

A month after Hurricane Sandy pounded the New Jersey Shore, Atlantic City is back in business. Even though most of the casinos and restaurants sustained very little damage in the storm, they're now suffering from a lack of visitors. But the city has launched an effort to change that.

As three young boys roll their skateboards down the "World Famous Atlantic City Boardwalk," it's proof that it is still here, fully in tact, and that rumors of its demise were greatly exaggerated.

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5:12am

Thu December 6, 2012
Business

The Last Word In Business

Originally published on Mon December 10, 2012 5:41 pm

Transcript

DAVID GREENE, HOST:

And our last word in business today is Trump versus Forbes. The Forbes we're talking about is a Scotsman named Michael Forbes. He has the misfortune of living right next to Donald Trump's new golf course in Scotland. Forbes has refused to sell his property to Trump; and what has ensued is the war of words that you probably would expect between the property magnet, and anyone who gets in his way.

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5:12am

Thu December 6, 2012
Business

Business News

Originally published on Thu December 6, 2012 6:55 am

Transcript

DAVID GREENE, HOST:

We begin NPR's business news with possible bank settlements.

(SOUNDBITE OF MUSIC)

GREENE: One of Britain's largest banks, Standard Chartered, says it expects to pay around $330 million to the United States. This would settle a case with regulators here who accused the bank of failing to comply with sanctions against Iran. Standard Chartered has already paid out $340 million to the state of New York on the same claims.

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5:12am

Thu December 6, 2012
Business

Citigroup To Cut 11,000 Jobs

Banks have been under increasing pressure to cut costs and eliminate redundancies. The cuts will eliminate about 4 percent of Citi's workforce.

3:32am

Thu December 6, 2012
Shots - Health News

Why It's Easier To Scam The Elderly

Originally published on Thu December 6, 2012 4:23 pm

Fraud victims are more likely to have opened official-looking sweepstakes notices and other mailings. A new study says the elderly are more susceptible than the young to being swindled.
Allen Breed AP

Lots of scams come by phone or by mail, but when the scam artist is right in front of you, researchers say the clues are in the face.

"A smile that is in the mouth but doesn't go up to the eyes, an averted gaze, a backward lean" are some of the ways deception may present itself, says Shelley Taylor, a psychologist at UCLA.

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3:31am

Thu December 6, 2012
Economy

What Should The U.S. Learn From Europe's Woes?

Originally published on Thu December 6, 2012 4:21 pm

French President Francois Hollande (left) and German Chancellor Angela Merkel take part in a bilateral meeting at the EU headquarters in Brussels on Nov. 22 as part of a European budget summit.
Bertrand Langlois AFP/Getty Images

As President Obama and Capitol Hill lawmakers assess the need for spending cuts and tax increases against the risk of triggering a new recession, they might look across the Atlantic for insights from those who have already grappled with those budgetary questions.

The problem of excessive government debt has swamped economies across Europe and forced countries to take severe measures to cut their deficits. The first lesson from their "fiscal consolidation" experiences: It will hurt.

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5:33pm

Wed December 5, 2012
It's All Politics

Obama And House GOP Engage In Fiscal Cliff Talks, Just Not With Each Other

Originally published on Wed December 5, 2012 6:30 pm

President Obama is introduced to the Business Roundtable by Boeing CEO Jim McNerney in Washington on Wednesday.
Charles Dharapak AP

The president and House Republicans continued to snipe at each other Wednesday over the impending set of automatic tax hikes and spending cuts known as the fiscal cliff. They traded accusations and blame during another day with plenty of talk, but — until late in the day, at least — no negotiations.

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5:05pm

Wed December 5, 2012
The Two-Way

Red Alert: Aerospace Industry Counts Down to Cutbacks

It's red alert time for aerospace industry executives, workers and contractors.

As they mingled today at the Aerospace Industries Association's annual Year-End Outlook luncheon at a Washington Grand Hyatt, the bright red electronic digits kept counting down for them.

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4:44pm

Wed December 5, 2012
Economy

A Thin Line: Economic Growth Or Corporate Welfare?

Originally published on Fri December 7, 2012 8:59 am

In her series for The New York Times, reporter Louise Story says that the manufacturing sector — automakers, in particular — benefit the most from incentive packages.
Ricardo Azoury iStockphoto.com

In her new series for The New York Times called "The United States of Subsidies," investigative reporter Louise Story examines how states, counties and cities are giving up more than $80 billion each year in tax breaks and other financial incentives to lure companies or persuade them to stay put.

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2:30pm

Wed December 5, 2012
The Two-Way

Socialism, Capitalism: Merriam-Webster's Odd-Couple Words Of The Year

Originally published on Wed December 5, 2012 9:12 pm

A demonstrator carries a sign calling people to "resist" President Barack Obama perceived socialist policies during a march of supporters of the conservative Tea Party movement in Washington.
Nicholas Kamm AFP/Getty Images

The dictionary Merriam-Webster has declared an incongruous pair their words of the year: Socialism and capitalism.

"There's no surprise there that politics was in people's minds," the dictionary's Editor-at-large Peter Sokolowski told CBS News when making the announcement.

Sokolowski said that the dictionary, which bases its decision on what people are looking up in their online edition, chose two words for the first time because they trended together.

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