A deal in the eurozone begins NPR's business news today.
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GREENE: At a summit in Brussels, the European Union agreed today to create a single overseer for its 6,000-plus banks. The move is seen as an important step in preventing future financial meltdowns. The European Bank will lead these efforts and the new overseer will have the power to intervene in any bank in the 17 eurozone countries.
And our last word in business today is: Ovonics. That's the science of using thin materials to capture the power of the sun. It's named after Stan Ovshinsky, who died on Wednesday at 89 years old.
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He held hundreds of patents that changed the way we use and gather energy. Ovshinsky never went to college, but that didn't put a damper on his passion for science. His son told the Associated Press that his dad was determined to change the world.
Yesterday was the kind of day executives at Google would probably like to delete. Trading of the Internet giant's shares was temporarily halted after the company's earnings were released accidently and prematurely. What's worse, the numbers were not anything Google would want to show off. The earnings reports showed profits last quarter fell by more than 20 percent. Here's NPR's Steve Henn.
It was four years ago - almost to the day - that American taxpayers bailed out America's big banks, as the nation faced its worst financial crisis in decades. In the past several days, we've been given a look at how the banks are doing - their latest quarterly profit reports.
And to talk about that, we turn, as we often do, to David Wessel. He's economics editor of The Wall Street Journal.
Chicken Little was running wild 25 years ago today. But one could hardly blame the poultry for panicking.
On Oct. 19, 1987, the stock market plunged a record-setting 23 percent. The next day, the New York Daily News' front page screamed "Panic!" and a New York Times headline asked: "Does 1987 equal 1929?"
Turns out, the 1987 plunge was a mere stutter step. The Dow Jones industrial average, which closed at 1,739 that day, quickly bounced back. Within a decade, the stock-price average had nearly quintupled.
When our series began yesterday, we brought together five economists from across the political spectrum and had them create a platform for their dream presidential candidate. It's a platform — Get rid of a tax deduction for homeowners!
Originally published on Thu October 18, 2012 8:32 pm
The development firm Panoramic Interests is building about two dozen "micro-apartments" in San Francisco. The company is poised to offer even smaller units if the city approves a proposed new minimum size of 220 square feet.
Credit Artist's Rendering of Smartspace Unit Courtesy of Panoramic Interests
In many large cities, like Dallas, Phoenix and even parts of Chicago, $800 a month is enough for a clean one-bedroom apartment, decked out with a living room, washer and dryer — and maybe even a pool, in a larger complex.
But if you want to live alone in San Francisco, getting those amenities at that price is practically a pipe dream. With the region's resurgent high-tech industries luring many well-educated, well-paid workers to the Bay Area, the averagerent for a studio apartment in the city now runs around $2,000.
Newsweek editor Tina Brown announced Thursday she would embrace a fully digital future as she revealed that the magazine's final print edition would be published at the end of the year.
Her announcement was a bow to gravity, as her unique blend of buzz and brio proved incapable of counteracting Newsweek's plummeting circulation and advertising amid an accelerating news cycle. Brown said there would be an unspecified number of layoffs as well.
Google's high-flying stock hit some turbulence today. Its shares were down as much as 10 percent before trading was temporarily halted. The drop came after the company's quarterly earnings report was released prematurely, a report that showed Google struggling in the third quarter. NPR's Steve Henn reports.
If you're one of those people who vigilantly checks the ingredient list of the things you buy at the grocery store, you may have already seen this: Some food products now contain something called "evaporated cane juice." It can be found in yogurt, fruit juices and lemonades.
So what exactly is evaporated cane juice? Well, it depends on whom you ask. We spoke with a few folks outside our local grocery store, and many of them were confused. Take a listen: