If you were to open a new brick-and-mortar bookstore, New York City would be a very pricey place to do it. Manhattan boasts some of the world's most valuable land - and, as it turns out - air. And that is our last word in business this morning.
In three years, the federal government is expected to open the skies for the civilian use of drones. But before that, the Federal Aviation Administration will set up six drone test sites around the country. Stiff competition to get one of the sites is anticipated — driven by hopes of attracting thousands of new jobs.
Years into the economic recovery, hiring remains slow. Many businesses learned to do more with less during the recession, so they don't need to bring on as many people now.
These new efficiencies have led to what economists call "labor displacement," which is taking place around the country. One business in Rockville, Md., is doing the same amount of work with half its original staff.
Two things are noticeably absent from the offices of Mid-Atlantic Builders: people and paper.
For Darden Restaurants, the company behind Olive Garden and Red Lobster, its earnings projections out last week were not pretty. Sales will fall, it said, and company CEO Clarence Otis called higher payroll taxes a "headwind."
After a two-year tax break, the payroll tax, which funds Social Security payments, went back up to 6.2 percent on Jan. 1. The 2-percentage-point increase is an extra $80 a month in taxes for someone earning $50,000 a year.
The long-awaited BP trial opened Monday in New Orleans. The oil giant is in court to determine how much it should pay because of the massive 2010 Gulf of Mexico oil spill. Audie Cornish talks to Jeff Brady.
If Congress fails to make a deal on government spending and taxation before Friday, federal cuts of more than 85 billion dollars will be enacted. NPR White House correspondent Scott Horsley discusses the politics of a potential deal and the options for avoiding sequestration.
Now, the Opinion Page. It's a no-brainer, that's how secretary - former Secretary of Labor Robert Reich described President Obama's recent proposal to raise the federal minimum wage. The plan would boost minimum pay from 7.25 an hour to $9. In a syndicated column, Reich wrote, a mere $9 an hour translates into about $18,000 a year, still under the poverty line.
In its bid to reshape itself for the future, Yahoo is returning to a workplace culture of the tech industry's past. The Internet giant has reportedly notified its employees they'll no longer be allowed to work from home.
Originally published on Mon February 25, 2013 11:36 am
By Maria Godoy
Bad news for those whose shopping trips at Ikea are partly motivated by the allure of the store's famous meatballs: The giant Swedish furniture retailer on Monday said it had recalled a batch of frozen meatballs sent to more than a dozen European countries after tests detected traces of horse meat.
Food inspectors in the Czech Republic discovered the horse meat DNA last week in 2.2-pound packs of frozen meatballs labeled as beef and pork and sold under the name Kottbullar.