Business

5:39pm

Fri March 15, 2013
Law

Hedge Fund To Pay More Than $600 Million In Insider Trading Settlement

Transcript

MELISSA BLOCK, HOST:

The Securities and Exchange Commission says it's the largest settlement in history for insider trading. Two affiliates of the major hedge fund SAC Capital Advisors will pay a fine of more than $600 million. But they're not admitting to any wrongdoing. Here's NPR's Dan Bobkoff.

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5:39pm

Fri March 15, 2013
Business

JPMorgan Chase Exec Says She Was Misled About Risks With 'London Whale' Trades

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

Senior executives at JPMorgan Chase appeared on Capitol Hill today. They were asked by a Senate subcommittee to explain how the firm lost more than $6 billion last year in a failed hedging strategy. The testimony comes one day after the subcommittee released a report saying the bank misled regulators and the public about the size of the losses. NPR's Jim Zarroli tells us more.

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5:39pm

Fri March 15, 2013
Business

Boeing: 787 Dreamliners Could Be Back In Service In Weeks, Not Months

For the first time, Boeing has laid out in detail the changes it plans to make in the Dreamliner 787's lithium ion battery. The company now believes the 787s will be back in service in a "matter of weeks."

3:31pm

Fri March 15, 2013
The Two-Way

Record $614 Million In Penalties Levied As Insider Trading Cases Are Settled

Connecticut-based hedge fund CR Intrinsic Investors "has agreed to pay more than $600 million to settle SEC charges that it participated in an insider trading scheme involving a clinical trial for an Alzheimer's drug," the Securities and Exchange Commission announced Friday.

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10:14am

Fri March 15, 2013
Shots - Health News

Power Shift Under Way As Middle Class Expands In Developing World

Originally published on Mon March 18, 2013 9:00 am

Brookings Institution

"The meek shall inherit the earth" — that seems to be the latest message from the United Nations Development Program.

Their 2013 Human Development Report chronicles the recent, rapid expansion of the middle class in the developing world. It also predicts that over the next two decades growth in the so-called "Global South" will dramatically shift economic and political power away from Europe and North America.

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10:01am

Fri March 15, 2013
TED Radio Hour

Are Droids Taking Our Jobs?

Originally published on Mon December 16, 2013 2:57 pm

Andrew McAfee speaking at TEDxBoston.
Sheryl Lanzel TED

Part 3 of the TED Radio Hour episode Do We Need Humans?

About Andrew McAfee's TEDTalk

Robots and algorithms can now build cars, write articles, and translate texts — all work that once required a human. So what will we humans do for work? Andrew McAfee looks at recent labor data to say: We ain't seen nothing yet.

About Andrew McAfee

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8:55am

Fri March 15, 2013
The Two-Way

More Problems Aboard Carnival Cruise Ships

Originally published on Fri March 15, 2013 1:53 pm

The Carnival Dream docked in St. Thomas, U.S. Virgin Islands, in December 2010.
Andy Newman AP

For the past month, management at Carnival Cruise Lines has been in a nearly constant state of damage control.

In the past week alone, three of the cruise line's giant floating playgrounds have experienced embarrassing malfunctions that have at least inconvenienced, if not angered, many passengers.

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8:53am

Fri March 15, 2013
The Two-Way

Gasoline Pushed Consumer Prices Up Sharply In February

Originally published on Fri March 15, 2013 10:05 am

Handles on a gas pump in Brooklyn.
Jonathan Fickies Landov

Consumer prices jumped 0.7 percent in February from January, the Bureau of Labor Statistics reports. The increase was fueled by a 9.1 percent surge in gasoline prices. Gas prices alone accounted for about two-thirds of the overall rise, MarketWatch says.

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7:45am

Fri March 15, 2013
The Two-Way

Book News: Geithner Writing 'Behind The Scenes' Story Of The Financial Crisis

Originally published on Fri March 15, 2013 9:56 am

Former Treasury Secretary Timothy Geithner's new book promises to give us the inside dope about reaction to the financial crisis.
Win McNamee Getty Images

The daily lowdown on books, publishing, and the occasional author behaving badly.

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5:12am

Fri March 15, 2013
Energy

Could Tapping Undersea Methane Lead To A New Gas Boom?

Originally published on Fri March 15, 2013 10:38 am

This photo from a Kyodo News helicopter shows a flame of natural gas from a Japanese deep-sea drilling ship on Tuesday. This successful extraction of methane from the seafloor was a world first.
Kyodo Landov

The new boom in natural gas from shale has changed the energy economy of the United States. But there's another giant reservoir of natural gas that lies under the ocean floor that, theoretically, could dwarf the shale boom.

No one had tapped this gas from the seabed until this week, when Japanese engineers pulled some up through a well from under the Pacific. The gas at issue here is called methane hydrate. Methane is natural gas; hydrate means there's water in it. In this case, the molecules of gas are trapped inside a sort of cage of water molecules.

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