Business

7:49am

Thu November 15, 2012
The Two-Way

BP Pleads Guilty, Will Pay $4 Billion In Criminal Penalties For Gulf Oil Spill

Originally published on Thu November 15, 2012 6:32 pm

The Deepwater Horizon oil rig burned on April 21, 2010.
U.S. Coast Guard Getty Images

Update at 11:30 a.m. ET: Oil giant BP has agreed to plead guilty to criminal misconduct related to the 2010 Gulf Oil spill and will pay a record $4 billion in criminal penalties, the company just confirmed. And it will pay $525 million in civil penalties in a resolution with the Securities and Exchanges Commission. BP will make the payments over six years.

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5:06am

Thu November 15, 2012
Business

The Last Word In Business

Originally published on Thu November 15, 2012 7:28 am

An online petition is urging Macy's to stop selling its line of Donald Trump branded clothing. The petition says the department store should sever ties with Trump because he is offensive, sexist and hypocritical. But a Macy's spokesperson insists its merchandise and marketing do not represent any political position.

5:06am

Thu November 15, 2012
Business

BP Expected To Plead Guilty In Gulf Spill

Originally published on Thu November 15, 2012 7:12 am

Oil giant BP is preparing to plead guilty to criminal misconduct related to the 2010 Gulf spill. The deal is set to be announced in New Orleans Thursday.

5:06am

Thu November 15, 2012
Business

Business News

Originally published on Thu November 15, 2012 7:21 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news begins with Twinkie trouble.

Hostess Brands, famous for processed treats like Twinkies and Ding Dongs, says it will go into liquidation if striking bakers do not return to work this afternoon. This could see the layoffs of nearly 18,000 workers. The bakers walked out over wage and benefit cuts. Analysts say the company's most iconic brands would likely be bought by other companies if Hostess goes out of business. Transcript provided by NPR, Copyright NPR.

5:06am

Thu November 15, 2012
Economy

Studies Vary On How Many Jobs Will Be Lost If Taxes On The Wealthy Ride

Originally published on Thu November 15, 2012 7:07 am

Republicans claim President Obama's plan to raise taxes on the wealthy will cost the economy 700,000 jobs. Another study from the Congressional Budget Office puts the number of lost jobs as 200,000. But both studies also assume millions of new jobs will be created.

5:06am

Thu November 15, 2012
Business

House Report Blames Corzine For MF Global's Demise

Originally published on Thu November 15, 2012 6:53 am

Transcript

LINDA WERTHEIMER, HOST:

House Republicans have released portions of a report on the collapse of MF Global, the commodities firm run by former New Jersey Governor Jon Corzine. The report chastises Corzine for taking excessive risk.

NPR's Jim Zarroli reports.

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5:06am

Thu November 15, 2012
Around the Nation

Should Taxpayers Pay For Rebuilding Northeast Infrastructure?

Originally published on Thu November 15, 2012 7:01 am

President Obama travels to New York Thursday to get a first hand look at the continuing recovery efforts and lingering damage from Hurricane Sandy. Damage and lost economic activity from the storm have been estimated as high as $50 billion. State officials and lawmakers from the affected region say they intend to tap the federal government for as much assistance as possible.

5:06am

Thu November 15, 2012
Business

Thompson Takes Over New York Times Company

Originally published on Thu November 15, 2012 6:58 am

This week marks the start of Mark Thompson's tenure as the new chief executive officer at the New York Times Co. It is facing financial head-winds, and is hoping Thompson can recapture some of the success he enjoyed in leading the BBC. But there's concern within the Times that its new leader has been tainted by scandals at his old employer.

4:04am

Thu November 15, 2012
Planet Money

Why Coke Cost A Nickel For 70 Years

Originally published on Mon November 19, 2012 2:04 pm

An oilcloth sign advertising Coca-Cola from 1905.
The Coca-Cola Company

Prices change; that's fundamental to how economies work.

And yet: In 1886, a bottle of Coke cost a nickel. It was also a nickel in 1900, 1915 and 1930. In fact, 70 years after the first Coke was sold, you could still buy a bottle for a nickel.

Three wars, the Great Depression, hundreds of competitors — none of it made any difference for the price of Coke. Why not?

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4:41pm

Wed November 14, 2012
Business

'Caesar's' CEO: Higher Taxes Would Impact Business

Originally published on Thu November 15, 2012 2:10 pm

Transcript

AUDIE CORNISH, HOST:

After President Obama's news conference today, he moved on to a meeting with the CEOs of a number of big corporations to talk about avoiding the fiscal cliff. We're going to talk now with one business leader who has advised the White House in the past, although he was not at today's meeting. Gary Loveman is the CEO of Caesars Entertainment, the worldwide casino company. He's been a member of President Obama's export council, and he's also part of the Fix the Debt campaign. Welcome to the program.

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