Business

5:31pm

Fri January 10, 2014
Planet Money

How A Community Bank Tripped On Footnote 1,861 Of The Volcker Rule

Originally published on Fri January 17, 2014 12:05 pm

When people talk about the Volcker Rule, they often mention JPMorgan Chase, the giant bank where a trader recently made a bad bet that lost $6 billion. The Volcker Rule is supposed to put an end to that sort of thing, by prohibiting banks from trading with their own money.

But some banks that are very, very different from JPMorgan Chase are struggling with an obscure provision in the rule. Specifically, footnote 1,861, which bars banks from investing in something called trust-preferred securities — a rather obscure investment favored by lots of small, community banks invest

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5:09pm

Fri January 10, 2014
Politics

Tech Companies 'Gob-Smacked' To Find NSA Collecting Data

Originally published on Fri January 10, 2014 7:19 pm

Transcript

AUDIE CORNISH, HOST:

Changes are coming soon to the way the National Security Agency gathers information about people all over the globe. President Obama is slated to speak next Friday about what action he'll take to revamp the NSA surveillance programs, which were revealed in news leaks from former NSA contractor Edward Snowden. The president has been meeting with stakeholders for several months, including executives from some of the biggest technology firms.

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5:09pm

Fri January 10, 2014
Economy

For Target, Holiday Woes Are Worse Than Expected

Originally published on Fri January 10, 2014 7:19 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

The retail giant Target delivered more bad news today. The company was the victim of a massive security breach before Christmas, and today it announced that that cyber-attack was much worse than originally reported. NPR's Sonari Glinton explains.

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3:11pm

Fri January 10, 2014
All Tech Considered

Tech Week That Was: CES, T-Mobile CEO And Predictions For 2014

Originally published on Fri January 10, 2014 5:12 pm

John Legere, CEO and president of T-Mobile USA, crashed rival AT&T's Consumer Electronics Show party and won a slew of free publicity as a result.
John Moore Getty Images

It's 2014 and we're back to full team strength, which means we've returned with your guide to the week's previous tech coverage on NPR (in case you missed it) and from our friends at what seems like an ever-growing crop of tech journalism organizations.

ICYMI

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3:07pm

Fri January 10, 2014
Business

What's Behind The Drop In Unemployment

Originally published on Fri January 10, 2014 3:20 pm

Shoppers make a purchase at an outlet mall in Los Angeles. Employers added 55,000 jobs in the retail sector in December.
Gus Ruelas Reuters/Landov

Whether you had a job or were looking for one, December was a gloomy month.

The Labor Department said Friday that for December, employers added only 74,000 jobs — about a third as many as most economists had been predicting. That was the lowest level of job creation in three years — not exactly the news that 10.4 million job seekers wanted to hear.

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11:46am

Fri January 10, 2014
Economy

Why Getting A Job Doesn't Mean Getting Out Of Poverty

Originally published on Fri January 10, 2014 1:47 pm

Transcript

MICHEL MARTIN, HOST:

I'm Michel Martin and this is TELL ME MORE from NPR News. This week, we, like many of our colleagues, have been talking about poverty because this week marks 50 years after President Lyndon Johnson declared a war on poverty. Later this hour, we'll speak with a minister who now preaches from the same pulpit where the Reverend Martin Luther King Jr. once stood in Atlanta - Ebenezer Baptist Church. And he's asking whether the black church is still a force for addressing issues like poverty. That's later.

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9:35am

Fri January 10, 2014
Parallels

Cuba, Land Of The $250,000 Family Sedan

Originally published on Fri January 10, 2014 1:57 pm

Cubans look at new and used foreign-made cars for sale at a car dealer in Havana on Jan. 3.
Adalberto Roque AFP/Getty Images

For the first time in more than 50 years, the Cuban government began selling new and used vehicles last week to anyone with the money to buy one. And as crowds gathered at state-owned car lots in Havana to check out the inventory, a consensus quickly emerged.

The cars on sale had either been priced by callous, greedy idiots, or the Cuban government had become the most incompetent automobile retailer in the world.

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8:28am

Fri January 10, 2014
The Two-Way

Target Says 70 Million Individuals' Data May Have Been Stolen

Originally published on Fri January 10, 2014 9:52 am

Justin Sullivan Getty Images

The size of the data breach at Target Co. stores late last year took a sharp rise Friday when the retailer said it now estimates that up to 70 million individuals may have had information that includes their "names, mailing addresses, phone numbers or email addresses" stolen.

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8:15am

Fri January 10, 2014
The Two-Way

Economy Adds Only 74,000 Jobs In December; Jobless Rate At 6.7 Percent

Originally published on Fri January 10, 2014 2:08 pm

Sign of the times? A "help wanted" sign in the window of a Philadelphia business last year.
Matt Rourke AP
  • On 'Morning Edition': NPR's Yuki Noguchi and David Greene preview the jobs report
We'll be posting updates after the report's 8:30 a.m. ET release.

There were only 74,000 jobs added to public and private payrolls in December, but the unemployment rate fell to a 5-year low 6.7 percent, the Bureau of Labor Statistics said Friday morning.

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7:17am

Fri January 10, 2014
The Two-Way

Chemical Leak Causes Water Emergency In West Virginia; Plant Shut Down

Originally published on Fri January 10, 2014 7:13 pm

In Charleston, W.Va., the shelves of this Kroger supermarket had been nearly stripped of bottled water on Thursday. Residents rushed to buy water after a chemical spill led officials to warn that they not use what's coming out of their taps.
Tyler Evert AP

More than 100,000 customers of one water company in West Virginia have been warned not to drink, cook or wash with the water coming from their taps because of chemicals that seeped into the Elk River near Charleston on Thursday.

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