Business

10:29am

Fri August 31, 2012
The Two-Way

Fed Chief Bernanke Issues Strong Hint Of Further Stimulus

Originally published on Fri August 31, 2012 10:49 am

Federal Reserve Chairman Ben Bernanke arrives for a dinner at the Jackson Hole Economic Symposium on Thursday.
Ted S. Warren AP

As the AP reads it, Federal Reserve Chairman Ben Bernanke stopped just short of "committing the Fed to any specific move, such as another round of bond purchases to lower long-term interest rates."

Bernanke gave a speech at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wy. today. As with all his speeches, it was being closely watched for signs on what the Federal Reserve would do next.

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4:44am

Fri August 31, 2012
Business

Buffett Donates More To His Children's Foundations

Originally published on Fri August 31, 2012 12:48 pm

Transcript

DAVID GREENE, HOST:

And our last word in business today is Happy Birthday.

Turns out when you're a billionaire investor you can celebrate any way you want. Warren Buffett turned 82 yesterday and his wish was to give away billions, so he did, in the form of millions of dollars worth of his company stock. All told, those shares will eventually be worth about $3 billion. That gift was divided between his three children's charitable foundations.

NPR's Sonari Glinton has more.

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4:44am

Fri August 31, 2012
Business

Business News

Originally published on Fri August 31, 2012 12:48 pm

Transcript

DAVID GREENE, HOST:

NPR's business news starts with yet another patent decision.

Apple and Samsung have been busy suing each other in countries all over the world. The latest decision came this morning. A court in Tokyo ruled that Samsung did not infringe on an Apple patent. A small win for the South Korean company, after a U.S. jury awarded Apple $1 billion in damages last week. Separately, a South Korean court has already ruled both companies infringed on each other's patents. Transcript provided by NPR, Copyright National Public Radio.

4:44am

Fri August 31, 2012
Business

Norwalk, Ct., Schools Avert Budget Crisis

Originally published on Fri August 31, 2012 12:48 pm

Transcript

STEVE INSKEEP, HOST:

And now let's report on a battle playing out on Norwalk, Connecticut. Eleven thousand students went back to school in Norwalk this week after a summer clash over budget cuts - the kinds of budget cuts that are familiar to people across this country. Dozens of teachers and other staff were reinstated in Norwalk, following protests by parents over the budget cuts.

As Kaomi Goetz of member station WSHU reports, parents are still frustrated.

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4:44am

Fri August 31, 2012
Business

For Oil Refineries, Isaac Was 'Mostly A Non Event'

Originally published on Fri August 31, 2012 12:48 pm

Transcript

STEVE INSKEEP, HOST:

Apparently the oil market is alright too. Now that Isaac has passed, the major oil companies are looking to restart production in the Gulf of Mexico. With nearly all the production platforms shut down, many people expected to see a rise in oil prices. But instead we've seen in the last few days what looks like the typical movement of the market - a little down one day, a little up the next.

Isaac is proving far less disruptive than Hurricanes Katrina or Ivan. Here's NPR's Yuki Noguchi.

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6:35pm

Thu August 30, 2012
The Salt

Two Sides Prepare For Vote On Genetically Modified Labeling In Calif.

Originally published on Mon October 15, 2012 10:30 am

California farmer Erik Freese pulls down a healthy ear of corn that has been genetically engineered to produce its own pesticide. He says genetic engineering has helped him to farm more sustainably.
Kathleen Masterson for NPR

This November, voters in California will decide whether the state should require labels on foods with genetically engineered ingredients. If the initiative, known as Proposition 37, passes, manufacturers would have to say somewhere on the front or the back of the food's packaging if the product contains or may contain genetically engineered ingredients.

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5:14pm

Thu August 30, 2012
The Salt

On the Farmers Market Frontier, It's Not Just About Profit

Originally published on Mon October 15, 2012 10:30 am

On a corner in Washington, D.C., where stores burned during riots 44 years ago, there's now a plaza where farmers sell produce on Saturday mornings.
Dan Charles/NPR

Farmers markets are popping up in cities all across the country, and people expect lots of different things from them: Better food, of course, but also economic development and even friendlier neighborhoods.

At its core, though, the farmers market is a business, and it won't survive unless the farmer makes money.

So what's the key to success for these markets?

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4:34pm

Thu August 30, 2012
Around the Nation

Despite Drought, Some Corn Farmers Reap Bounty

Originally published on Thu August 30, 2012 8:18 pm

Grimes Sweetcorn worker Paulette Vandyke waits to sell fresh corn in Grimes, Iowa. The drought has pushed the price of corn per bushel up nearly 40 percent in the past two months.
Justin Sullivan Getty Images

For every farmer who is hurting this year during the drought, others are benefiting. Many fields in the South, Northwest and Upper Midwest are producing bountiful corn crops. And because the drought has pushed prices to record highs, farmers who have corn to sell expect a terrific payday.

"The corn has actually really, really taken off all the way through season. It's grown fast. It's been accelerated. The corn looks really good now," says John Scott, whose family farm in Sargeant, Minn., is just bursting with corn.

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11:05am

Thu August 30, 2012
Economy

Who Really Changes The Economy?

Microsoft co-founder Bill Gates
AP

With Election Day drawing closer, each presidential candidate is pushing harder to make the case that he would be a better leader for the economy.

And voters are listening to the pitches. A recent Washington Post-ABC poll showed that nearly 3 in 4 Americans say the candidate's approach to the economy will be a "major factor" in deciding between President Obama and Gov. Mitt Romney.

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8:52am

Thu August 30, 2012
The Two-Way

Jobless Claims Saw Little Change Last Week; Four-Week Average Is Up

The number of Americans filing first-time claims for unemployment remained flat, last week, the Employment and Training Administration reports. In the week that ended Aug. 25, a seasonally adjusted 374,000 claims were filed, matching the previous week's total, which was revised up.

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