Business

1:46pm

Tue September 25, 2012
Economy

Two Plans For Fixing The Economy, But Few Details

Originally published on Tue September 25, 2012 1:48 pm

Job seekers fill out applications Aug. 21 at a construction job fair in New York. Polls show voters want the presidential candidates to provide more details on how they would reduce unemployment, change tax policy and alter government spending.
Seth Wenig AP

As this presidential election year was kicking off, strategists were saying the focus would be on the economy. But now — even as absentee ballots are being filled in — the candidates are still dodging details about how to improve growth.

"President Obama doesn't have a plan," says Kevin Hassett, an economic adviser to Republican candidate Mitt Romney.

Jeffrey Liebman, an economic adviser to President Obama, says Romney has revealed no plan other than "going back to the failed policies of the past decade."

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11:11am

Tue September 25, 2012
The Record

Crowd Funding For Musicians Isn't The Future; It's The Present

Originally published on Wed July 31, 2013 2:24 pm

The Physics, with Thig Nat at the right.
Courtesy of the artists

By now, everyone's heard of Kickstarter, the website that lets people with an idea or project ask other people to contribute toward realizing it. It's called crowd funding, and this summer's big success story was musician Amanda Palmer. She raised more than $1 million to produce her new album. But crowd funding doesn't work for every musician every time.

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9:34am

Tue September 25, 2012
The Two-Way

More Positive News On Housing: Prices Rose For Third Straight Month

A home for sale in Los Angeles last month.
Kevork Djansezian Getty Images

Home prices rose in July from June by 1.5 percent in its 10-city index and 1.6 percent in the 20 major cities where it tracks changes, the latest S&P/

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5:07am

Tue September 25, 2012
Business

Discover To Refund $200 Million To Customers

Originally published on Tue September 25, 2012 12:00 pm

Transcript

STEVE INSKEEP, HOST:

Some other news. Discover Financial Services has agreed to refund $200 million to more than three and a half million credit card customers. A federal investigation found the company used deceptive marketing practices. It's one of the first major enforcement actions by the new Consumer Financial Protection Bureau.

NPR's Ailsa Chang reports that Discover allegedly charged customers for add-on services they never ordered.

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4:49am

Tue September 25, 2012
Business

Apple Runs Out Of Initial iPhone 5 Stock

Originally published on Tue September 25, 2012 12:00 pm

Transcript

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with: somebody restock the shelves.

Apple says it sold more than 5 million of its new iPhone 5s over the weekend. The company says it has now run out of its initial stock. On its debut weekend, the iPhone 5 sold better than the last version of the iPhone. But sales were not quite as strong as many analyst expectations, and there are concerns about Apple's ability to keep up with demand.

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4:49am

Tue September 25, 2012
Business

The Last Word In Business

Originally published on Tue September 25, 2012 12:00 pm

Transcript

STEVE INSKEEP, HOST:

And today's last word in business comes from Tony the Tiger.

(SOUNDBITE OF COMMERCIAL)

LEE MARSHALL: They're greeeaaat.

(SOUNDBITE OF MUSIC)

INSKEEP: A simple statement. But Tony may have to learn how to say it in Chinese because his parent company, Kellogg, just inked a deal with a firm in Singapore.

DAVID GREENE, HOST:

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4:49am

Tue September 25, 2012
Economy

IMF's Lagarde: Uncertainty Slows Global Recovery

Originally published on Tue September 25, 2012 12:00 pm

International Monetary Fund Managing Director Christine Lagarde delivers remarks at the Peterson Institute for International Economics on Monday in Washington, D.C. Lagarde said there are a number of factors eroding growth.
Paul J. Richards AFP/Getty Images

Managing Director of the International Monetary Fund Christine Lagarde says recent actions by the European Central Bank mark a positive turning point in Europe's financial crisis. But she warned that uncertainty elsewhere will continue to slow the pace of the global recovery.

Back in July, the IMF was forecasting world growth of just under 4 percent for next year. The group's economists will issue a new forecast in a couple of weeks. Lagarde said the new projection still foresees a gradual recovery, but it will shave a few tenths of a percent off global growth.

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3:27am

Tue September 25, 2012
Business

Chicago Pits Quieter, But Traders' Outcries Linger

Originally published on Tue September 25, 2012 8:18 pm

Traders work in the bond pit at the Chicago Board of Trade in 1995. In recent decades, much of the trading has left the pits and gone electronic.
Michael S. Green AP

The trading pits at the Chicago Board of Trade and the Mercantile Exchange have long been potent symbols of American capitalism. And they used to be as rough and tumble as the city itself, where burly men bought and sold commodities like hogs, cattle, corn and soybeans.

Trading volume has gone up considerably in recent years, but Chicago's trading pits are tamer places today — the result of a revolution futures trading has undergone over the past quarter century. Much of the trading has left the pits and gone electronic.

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3:21am

Tue September 25, 2012
Asia

Americans In China Feel Pinch Of Shifting Economies

Originally published on Tue September 25, 2012 12:00 pm

China has welcomed U.S. business expertise for many years as its economy has advanced rapidly. Jim Rogers, a prominent U.S. investor, is shown here in China at the 2nd Hunan Finance Expo in 2011. However, the Chinese are becoming more confident in their own business skills and more critical of American practices in recent years, according to U.S. business executives working in China.
ChinaFotoPress Getty Images

In recent years, China's status — like its economy — has continued to rise as the economies in America and Europe have struggled.

That shift isn't just reflected in economic numbers, and some American business people in China say they don't feel as respected or as valued as before.

Not long after Michael Fagle arrived in Shanghai in 2005 with DuPont, he went to visit a Chinese customer. Back then, Fagle says, he was treated as a sage from the West.

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5:04pm

Mon September 24, 2012
The Salt

Lawsuit Claims Pork Producers Council Scammed $60 Million From Farmers

Originally published on Mon September 24, 2012 5:18 pm

"The Other White Meat" slogan has been a popular promotion for pork since the 1980s. But a recent lawsuit raises questions about who owns it and who pays.
ugod Flickr.com

You know that ad campaign for pork, the one that called it "the other white meat?" There's a fascinating behind-the-scenes story about that slogan, revealed in a new lawsuit that was just filed this morning by the Humane Society of the United States.

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