Business

Bernanke: Economy Still Too Shaky To End Low Interest Rates

John Ydstie — Wed, 22 May 2013 21:20:00 +0000

Over the past several years, the Federal Reserve has added trillions of dollars to its balance sheet, purchasing bonds in order to stimulate the economy. Many investors have been concerned that when the Fed starts selling off those bonds it could create turmoil in the markets. But in Congressional testimony on Wednesday, Ben Bernanke said the Fed might not sell off those bonds at all.

Go East, Young Marijuana Dealer

Marianne McCune — Wed, 22 May 2013 21:20:00 +0000

Chuck used to sell marijuana in California. But the legalization of medical marijuana in the state meant he was suddenly competing against hundreds of marijuana dispensaries. So he moved to New York, where marijuana is still 100 percent illegal. Since making the move, he says, he's quadrupled his income. (For the record: His name isn't really Chuck.)

He spends pretty much every day dealing what he calls "farm-to-table" marijuana.

Bernanke Hints That The Economy Still Needs Help

Mark Memmott — Wed, 22 May 2013 15:37:00 +0000

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

"Recognizing the drawbacks of persistently low rates, the FOMC actively seeks economic conditions consistent with sustainably higher interest rates.

Qantas Airlines To Offer In-Flight Books

editor — Wed, 22 May 2013 11:12:00 +0000

Transcript

DAVID GREENE, HOST:

And our last word in business on this Wednesday is: Mile High Book Club.

LINDA WERTHEIMER, HOST:

We're talking about an in-flight library offered by the Australian airline Qantas.

GREENE: They will still have movies on the plane, that right, Linda?

WERTHEIMER: Yes, David.

Earning News Sends Home Depot Stock Higher

editor — Wed, 22 May 2013 11:08:00 +0000

Transcript

LINDA WERTHEIMER, HOST:

NPR's business news starts with Home Depot raising the roof.

Home Depot got a boost from the housing recovery in its first-quarter net income. It rose 18 percent; that exceeds expectations. The company acknowledged yesterday that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.

Home Depot's stock price rose by 2.5 percent with the news. Transcript provided by NPR, Copyright NPR.

Microsoft Unveils Its new Xbox One

Laura Sydell — Wed, 22 May 2013 10:47:00 +0000

Transcript

LINDA WERTHEIMER, HOST:

The wait is over for many Xbox fans. Yesterday, Microsoft unveiled its next generation Xbox gaming console. It's called Xbox One. It's the first major revamp of the gaming system since 2005.

Parking Industry Tries To Make Your Life Easier

Kenny Malone — Wed, 22 May 2013 10:39:00 +0000

Transcript

DAVID GREENE, HOST:

Finding a parking space, probably not at the top of the list of things you like to do. Well, experts in parking think they might be able to change that. One key, they say, is for developers to think about the parking experience when they're designing malls or apartment complexes, instead of just treating it as an afterthought.

This came up in Florida this week, at the International Parking Institute's annual conference. Reporter Kenny Malone, from member station WLRN, was there.

KENNY MALONE, BYLINE: Let's go ahead and address this head-on.

Court Rules Vacation Rental Site Illegal In New York

editor — Wed, 22 May 2013 10:32:00 +0000

Transcript

DAVID GREENE, HOST:

Here's some news for travelers. If you can't afford or don't want to pay the price for a hotel room, maybe you've used the cheap lodging site Airbnb. If so, you have to take New York City off your list. The popular website has suffered a major setback in court.

Battle Lines Harden In Debate Over Blame For IRS Controversy

Peter Overby — Wed, 22 May 2013 10:32:00 +0000

The Treasury Department's inspector general, who faulted the IRS for flagging conservative groups for extra scrutiny, is now investigating how the agency is monitoring the political activities of tax-exempt groups. These so-called social welfare organizations are not supposed to be primarily about politics, although many seem to be.

Why Apple (And Lots Of Other Companies) Wound Up In Ireland

editor — Wed, 22 May 2013 07:07:00 +0000

Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays.

Quantum Or Not, New Supercomputer Is Certainly Something Else

Geoff Brumfiel — Wed, 22 May 2013 07:03:00 +0000

It's exactly the sort of futuristic thinking you'd expect from Google and NASA: Late last week, the organizations announced a partnership to build a Quantum Artificial Intelligence Lab at NASA's Ames Research Center.

But questions surround the new type of computer at the lab's core. D-Wave systems, the company that makes the machine, says it is a quantum computer — a machine that runs on the strange laws of quantum mechanics.

Instead Of Snoozing In Savings, Let's Put $5,000 To Work

Uri Berliner — Wed, 22 May 2013 07:01:00 +0000

If you have a savings account you probably already know this: Your money there is losing value to inflation. Yields are so low that returns are not even keeping up with the cost of living.

I've been watching some of my own savings dwindle. And that prompted me to take up a challenge: I'm taking $5,000 from personal savings and putting it to work. I'm not a financial whiz, pundit or any kind of guru.

In the coming weeks, I'll be reporting on the various investments I decide to pursue.

'Arrested Development' Leads The Charge For Old Brands In New Media

Neda Ulaby — Tue, 21 May 2013 20:44:00 +0000

Arrested Development returning via Netflix? Just another old-media brand reviving itself on new media.

The TV show, which originally ran on Fox from 2003 to 2006 and unveils new episodes on Netflix next weekend, finds itself in splendid company. Radiohead, Louis C.K., Veronica Mars — all found their audiences with promotion and distribution from big studios and networks. Radiohead was signed to a major music label. Louis C.K. enjoyed HBO specials and TV shows.

Apple CEO Defends Tax Practices At Senate Hearing

John Ydstie — Tue, 21 May 2013 20:41:00 +0000

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

MELISSA BLOCK, HOST:

And I'm Melissa Block.

The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes.

JPMorgan Chase CEO Spared By Shareholders

Jim Zarroli — Tue, 21 May 2013 20:41:00 +0000

Transcript

ROBERT SIEGEL, HOST:

Jamie Dimon, the chairman and CEO of JP Morgan Chase, has beaten back the most significant challenge to his leadership since he took charge.