Business

4:41am

Wed October 10, 2012
Around the Nation

Chicago Mayor Emanuel To Present Proposed Budget

Originally published on Wed October 10, 2012 6:48 am

Chicago continues to wrestle with a massive budget gap and severely underfunded pensions. Fresh off a negotiating tussle with the city's teachers and a school strike, Chicago Mayor Rahm Emanuel on Wednesday presents his proposed 2013 budget to the City Council.

4:32am

Wed October 10, 2012
Business

Showbiz Daily 'Variety' Sold To Penske Media

Originally published on Wed October 10, 2012 7:21 am

Transcript

RENEE MONTAGNE, HOST:

And staying here in California, our last word in business is lights, camera, sold.

The sale of Variety is officially a wrap. The venerable 107-year-old show biz daily has been bought for $25 million by Penske Media, the owner of Variety's upstart online rival Deadline.com. Like its longtime competitor, the Hollywood Reporter, Variety has had trouble making the switch to digital media, but it still turns a profit. So in the language that Variety helped make famous, Penske seems to believe this deal will be boffo and not a flopola.

Read more

4:32am

Wed October 10, 2012
Business

California's Gas Prices Begin To Stabilize

Originally published on Wed October 10, 2012 6:48 am

Motorists should be seeing some relief from the recent record spike in gas prices. The average price for a gallon of regular unleaded hit $4.67, according to AAA. That price hike sent elected officials scrambling. Some are calling for a federal investigation, while others are taking emergency steps to increase supply.

4:32am

Wed October 10, 2012
Economy

Greeks Protest German Chancellor's Athens Visit

Originally published on Wed October 10, 2012 6:48 am

Tens of thousands of angry Greeks protested eurozone-imposed austerity measures as German Chancellor Angela Merkel arrived for her first visit to Greece since the debt crisis erupted three years ago. Merkel struck a conciliatory tone but Greeks carried banners reading: Merkel out, Greece is not your colony.

4:32am

Wed October 10, 2012
Business

Wells Fargo Sued Over Bad Mortgage Investements

Originally published on Thu October 11, 2012 7:06 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with another bank sued.

Wells Fargo has become the second major American bank to be sued over its conduct during the housing boom. The U.S. Attorney's office in New York alleges that Wells Fargo approved hundreds of millions of dollars in bad housing loans during the 10-year period leading up to the financial crisis.

NPR's Jim Zarroli reports.

Read more

3:15am

Wed October 10, 2012
Author Interviews

Virgin's Richard Branson Bares His Business 'Secrets'

Originally published on Wed October 10, 2012 8:53 am

Richard Branson is the founder and chairman of Virgin Group.
Paul Morigi Invision/AP

Richard Branson is not your average entrepreneur. He dropped out of school at 15 and, despite suffering from dyslexia and attention deficit disorder, went on to found Virgin Group, a business empire that includes airlines, cellphone companies, banks, hotels, health clubs and even a space travel business.

Read more

5:12pm

Tue October 9, 2012
The Two-Way

U.S. Government Sues Wells Fargo In Mortgage Case

Originally published on Tue October 9, 2012 5:24 pm

Wells Fargo.
Karen Bleier AFP/Getty Images

The U.S. government filed a lawsuit against Wells Fargo & Co., today, saying the bank was reckless when it issued federally guaranteed mortgages.

Bloomberg reports:

Read more

4:40pm

Tue October 9, 2012
Business

Wal-Mart, American Express To Debut New Card

Originally published on Tue October 9, 2012 7:10 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

AUDIE CORNISH, HOST:

Read more

12:34pm

Tue October 9, 2012
Your Money

How To Avoid Sticky Financial Situations

Writer Sybilla Nash agreed to help out a friend by co-signing a mortgage. But after her friend neglected to make payments, Nash's credit score dropped 200 points. Nash wrote about the ordeal for The Huffington Post. She joins host Michel Martin and consumer education expert John Ulzheimer to talk about how to avoid sticky financial situations.

9:08am

Tue October 9, 2012
The Two-Way

Risks Of Global Economic Slowdown Are 'Alarmingly High,' IMF Warns

Originally published on Tue October 9, 2012 9:10 am

In China's Anhui province, a worker unloads steel bars at a factory. A slowdown in China and other major nations threatens to pull the global economy into recession, the International Monetary Fund warns.
AFP/Getty Images

Saying that the global economic recovery "has suffered new setbacks, and uncertainty weighs heavily on the outlook," the International Monetary Fund today warned that the probability of "recession in advanced economies and a serious slowdown in emerging market and developing economies" next year have gone up.

The fund said its research indicates the risk of those things occurring in 2013 "has risen to about 17 percent, up from about 4 percent in April 2012."

Read more

Pages