It's not often that one of the world's biggest companies says, "We goofed."
But in a surprising turn of events Friday, Apple admitted it made a mistake in pulling out of an environmental rating system for computers and other electronics. The company said it would rejoin the so-called EPEAT certification system, placing all 39 of its originally certified products back on the list. The company is also requesting certification for more products, including its new MacBook Pro model.
As the financial crisis began to unfold in 2007, the New York Federal Reserve learned that some banks might have intentionally underestimated the rates they expected to pay for loans from other banks.
Documents the New York Fed released Friday, in response to a request from Congress, show that the banking regulator began to be concerned about the accuracy of LIBOR — or the London Interbank Offered Rate — late in 2007.
A lot of the online services you probably use are free. Gmail is free. Facebook is free. Yahoo News and NPR are free (though we certainly solicit contributions!). But increasingly, online companies are trying to figure out how to start charging, at least for some services, some of the time.
But today, we have a cautionary tale about charging for things that were once free. It's the story of how one small mistake moving away from free can cause trouble that's impossible to fix.
Apple announced Friday that it is rejoining a widely-used registry of environmentally-friendly electronic devices called EPEAT. That's after pulling out of the registry just last week. The company had come under harsh criticism from those who said the company was turning its back on its green environmental image. Melissa Block speaks with Wendy Kaufman about Apple's decision.
This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block. Five billion dollars of net income in three months. Sounds like a pretty good quarter, right? Well, for almost any other company, it would be, but for JPMorgan Chase, those profitable second-quarter results have been overshadowed by news of a ballooning trading loss that shook investor confidence in the bank. As NPR's Yuki Noguchi reports, JPMorgan's CEO is trying to restore what was once a good reputation for risk management.
This week, one of the biggest coal mining companies in Central Appalachia, Patriot Coal, filed for bankruptcy protection. Over the past three months, a wave of layoffs has hit coal country hard, and this past month, the share of all U.S. electricity generated from coal hit its lowest level since the 1940s. Our colleague Guy Raz visited Webster County in the middle of West Virginia to find out what's killing King Coal.
Originally published on Fri July 13, 2012 12:33 pm
A young supporter of Republican presidential candidate Mitt Romney holds a sign during an election party at the Red Rock Casino in Las Vegas in February.
Credit Justin Sullivan / Getty Images
For all the chatter that the winner of the 2012 presidential election will be determined by the economy, you wouldn't know it by looking at the most closely contested states.
The recovery is still tepid in most parts of the country, and there's a sense of trepidation that signs of improvement might not last. Among the swing states, some are doing comparatively well while others are struggling — but the political picture looks roughly the same in all.
The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.
As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.
Though it suffered an estimated $4.4 billion second-quarter loss related to its bungled trading in some very risky types of investments, JPMorgan Chase said this morning that it still did well enough in its other businesses that it had net income of $5 billion in those three months.