Business

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.

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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.

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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:

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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:

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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."

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6:31am

Tue October 9, 2012
Asia

U.S., India Try To Boost Economic Ties

Originally published on Tue October 9, 2012 11:25 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a passage to India.

(SOUNDBITE OF MUSIC)

INSKEEP: Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner meet their counterparts in India today. The U.S. wants to boost economic ties with the country that it on its way to becoming the most populous in the world. Talks have been pushed forward by India's new liberalizing economic reforms.

NPR's Julie McCarthy reports from Delhi.

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6:31am

Tue October 9, 2012
Books

Google, Publishers Settle Digital Book Dispute

Originally published on Tue October 9, 2012 11:25 am

Transcript

RENEE MONTAGNE, HOST:

And now for another chapter in the collision between digital media and old-style books.

STEVE INSKEEP, HOST:

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6:31am

Tue October 9, 2012
Economy

Gobal Economy Outlook Looks Grim

Originally published on Tue October 9, 2012 11:25 am

Transcript

RENEE MONTAGNE, HOST:

Finance ministers and central bankers from around the world are on their way to Tokyo for their annual get-together, sponsored by the International Monetary Fund and World Bank. The mood, at the moment, about the global economy, is worried. In fact, the IMF has just called the risk of a worldwide slowdown alarmingly high.

To find out more, we turn, as we often do, to David Wessel. He's economics editor of The Wall Street Journal.

Good morning.

DAVID WESSEL: Good morning, Renee.

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6:31am

Tue October 9, 2012
Books

Publisher Sues Authors Who Don't Produce Manuscripts

Originally published on Tue October 9, 2012 11:25 am

Transcript

RENEE MONTAGNE, HOST:

A lot of would-be professional writers dream of someday getting a book contract that includes an advance, enough money, paid upfront, to let them quit their day job and write full time.

Of course, those advances do come with an expectation that an author will actually write the book. The Penguin Publishing Group recently filed suit against a dozen authors who failed to produce manuscripts after getting an advances.

NPR's Lynn Neary reports.

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