Business

8:48am

Fri April 17, 2015
The Two-Way

Bloomberg Terminals Go Dark For Hours, Sending Ripples Through Markets

Originally published on Fri April 17, 2015 11:03 am

Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange on Friday.
Reuters/Landov

Updated at 10:15 a.m. ET

If there's one piece of hardware that can be found on nearly every trader's desk, regardless of time zone, it's the Bloomberg data terminal.

So when the terminals experienced a global outage lasting hours, it sent chaos through markets where the "screens" are relied upon to analyze and interpret financial data — and to exchange market gossip with traders around the world.

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7:19am

Fri April 17, 2015
The Two-Way

Former IMF Head Rato Is Arrested Over Tax Fraud Allegations In Spain

Originally published on Fri April 17, 2015 1:38 pm

Rodrigo Rato, who led the International Monetary Fund from 2004-2007, was arrested in Spain last night over allegations of tax evasion and money laundering.

An influential figure in Spanish banking and politics, Rato was the predecessor of IMF chief Dominique Strauss-Khan, who left office under a cloud of legal troubles and allegations of sexual assault.

From Madrid, NPR's Lauren Frayer reports:

"Tax and customs officials raided Rodrigo Rato's Madrid home last night and took him away in a police car.

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6:11am

Fri April 17, 2015
Europe

Greece's Economy Remains Embroiled In Turmoil

Originally published on Fri April 17, 2015 2:10 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

5:15am

Fri April 17, 2015
Planet Money

When It Comes To Buying Decisions, Why Feelings Come First

Originally published on Fri April 17, 2015 7:35 am

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

DAVID GREENE, HOST:

How are you feeling seems like the kind of question you might get from a psychiatrist, not an economist. Then again, Stacey Vanek Smith, from NPR's Planet Money team, reminds us about one vitally important economic indicator.

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3:43am

Fri April 17, 2015
Goats and Soda

When The World Bank Does More Harm Than Good

Originally published on Fri April 17, 2015 8:17 am

In the 1950s, the World Bank funded the creation of the world's largest man-made dam, the Kariba Dam, which sits on the border of Zimbabwe and Zambia. The construction of such dams can have dire consequences for poor people living near a river, an investigation found.
Jekesai Njikizana AFP/Getty Images

The World Bank's goal is to end extreme poverty and to grow income for the poorest people on the planet.

The bank does this by lending money and giving grants to governments and private corporations in some of the least developed places on the planet. For example, money goes to preserving land, building dams and creating health care systems.

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8:44pm

Thu April 16, 2015
The Two-Way

Feds Cancel Commercial Sardine Fishing After Stocks Crash

Originally published on Fri April 17, 2015 7:58 am

A tray of sardines in Costa Mesa, California, in this November 17, 2014 photo. Plummeting sardine populations force a complete ban on sardine fishing off the U.S. West Coast for more than a year.
LUCY NICHOLSON Reuters /Landov

Life has suddenly gotten easier for the sardine. Federal regulators are not only closing the commercial sardine fishing season early in Oregon, Washington and California, but it will stay closed for more than a year.

The decision to shut down the sardine harvest is an effort to build up depleted stocks of the small, oily fish. The conservation group, Oceana, says that sardine populations have crashed more than 90 percent since 2007.

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7:39pm

Thu April 16, 2015
All Tech Considered

The Hidden FM Radio Inside Your Pocket, And Why You Can't Use It

Originally published on Fri April 17, 2015 8:01 am

You may not know it but most of today's smartphones have FM radios inside of them. But the FM chip is not activated on two-thirds of devices. That's because mobile makers have the FM capability switched off.

The National Association of Broadcasters has been asking mobile makers to change this. But the mobile industry, which profits from selling data to smartphone users, says that with the consumer's move toward mobile streaming apps, the demand for radio simply isn't there.

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5:51pm

Thu April 16, 2015
Asia

New Asian Development Bank Seen As Sign Of China's Growing Influence

Originally published on Fri April 17, 2015 12:54 am

Chinese Finance Minister Lou Jiwei (left) speaks during the signing ceremony of the Asian Infrastructure Investment Bank, Oct. 24, in Beijing.
Getty Images

China says 57 countries have signed on as charter members of the new China-backed Asian Infrastructure Investment Bank. They include some of the United States' closest allies, which added their names despite pressure from the White House not to join.

The Obama administration is concerned the new bank will compete with Western-led institutions like the World Bank and the International Monetary Fund, but leaders of those institutions don't seem to be worried.

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4:44pm

Thu April 16, 2015
NPR Ed

LA Schools To Apple: You Owe Us

Originally published on Thu April 16, 2015 8:29 pm

Jorge Quinteros Flickr

The Los Angeles Unified School District is demanding that Apple Inc. refund millions of dollars for Pearson software that had been loaded onto iPads for the district's 650,000 students.

If an agreement on the dispute cannot be reached, the nation's second-largest school district could take Apple to court.

Two years after the district launched the most expansive school technology initiative in the country, its attorney said it is "extremely dissatisfied" with the work of Pearson, the publisher of the Common Core learning software.

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5:06am

Thu April 16, 2015
Around the Nation

In Record Drought, California Golf Course Ethically Keeps Greens Green

Originally published on Thu April 16, 2015 1:58 pm

A bio-filtration basin, pictured during installation in 2007, captures water runoff from the Pelican Hill golf club's maintenance facility. The water is filtered through grass, gravel, sand, soil and filter fabric into an underground drainage system.
Pelican Hill

In drought-stricken California, golf is often seen as a bad guy — it can be hard to defend watering acres of grass for fun when residents are being ordered to cut their usage and farmers are draining their wells.

But golf is a $6 billion industry in the state and employs nearly 130,000 workers, according to the California Golf Course Owners Association. So while the greens are staying green, some golf courses are saving every drop of water they can.

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