Business & Technology

Home Insurance
1:04 pm
Fri July 13, 2012

Citizens sets annual Katrina-Rita bond assessment

Homeowners will pay $54 on average next year on their insurance policies to cover bond payments being made by state-backed Louisiana Citizens Property Insurance Corp., which had to borrow nearly $1 billion to pay claims from hurricanes Katrina and Rita.

The board voted Thursday to impose a 3.74 percent assessment on all commercial and personal policyholders in the state starting Jan. 1.

Business
6:48 am
Fri July 13, 2012

JPMorgan: Trading Loss Grows To $4.4 Billion

Originally published on Thu August 30, 2012 1:23 pm

Transcript

RENEE MONTAGNE, HOST:

The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.

As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.

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The Two-Way
12:52 pm
Thu July 12, 2012

Yahoo! Confirms Data Breach; 400,000 Passwords At Risk

The Yahoo sign in Times Square in a 2006 file photo.
Don Emmert AFP/Getty Images

Originally published on Thu July 12, 2012 12:56 pm

Yahoo said today that hackers had stolen and posted a file that contained 400,000 usernames and passwords.

The New York Times reports that those credentials were used not only for Yahoo! services but to services such as Gmail, AOL, Hotmail, Comcast, MSN, SBC Global, Verizon, Bellsouth and Live.com.

The Times' Bits blog reports:

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NPR Story
4:40 am
Thu July 12, 2012

Mobile Ad Networks Accused Of Invasive Apps

Originally published on Thu July 12, 2012 12:21 pm

Mobile apps are aggressively placing unwanted ads on phones. Lookout, a mobile security firm in San Francisco, tested mobile apps and found some disturbing practices. Those include transmitting consumer phone numbers and email addresses and transmitting to third parties and placing ads on the mobile phone's desktop.

NPR Story
4:23 am
Thu July 12, 2012

The Last Word In Business

Originally published on Thu July 12, 2012 11:21 am

Transcript

STEVE INSKEEP, HOST:

Sometimes friends become more than friends and Facebook just won't do. And if the friend in question are dogs, they may want to hear today's last word in business.

(SOUNDBITE OF SONG, "PUPPY LOVE")

PAUL ANKA: (Singing) And they called it puppy love, oh I...

RENEE MONTAGNE, HOST:

Brazil's dog population is second only to the U.S. Two entrepreneurs - a brother and sister team - are hoping to capitalize on that by building an eight-story hotel for pets. With one floor apparently is dedicated to mating.

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Colonial Golf & Country Club
8:52 pm
Wed July 11, 2012

Colonial Golf & Country Club sale approved

A federal bankruptcy judge has approved the sale of Colonial Golf & Country Club's 88-acre property to businessman John Georges and real estate developer Wayne Ducote.

Judge Elizabeth Magner congratulated the parties assembled Wednesday after confirming the Harahan-based club's Chapter 11 reorganization plan.

The Times-Picayune reports the 87-year-old club closed in January and declared bankruptcy in February, a day before the property was to be sold at a state court-ordered auction.

The Salt
4:00 pm
Wed July 11, 2012

Wake Up Call To Grocery Stores: Young People Shop Around

The millennial generation doesn't shop at the grocery store the way their parents and grandparents do.
iStockphoto.com

Originally published on Wed July 11, 2012 10:31 pm

Supermarkets have spent decades catering to the needs and wants of baby boomers, and now the millennial generation is disappointed with what they're finding at traditional grocery stores, and are shopping elsewhere in greater numbers.

In fact, a new market research report called Trouble in Aisle 5 reports that millennials buy only 41 percent of their food at traditional grocery stores, compared to the boomers' 50 percent.

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The Two-Way
3:35 pm
Wed July 11, 2012

'Wall Street Journal': Seven Years After Burst Bubble, 'The Housing Bust Is Over'

A moving truck is shown at a house that was sold in Palo Alto, Calif. on Tuesday.
Paul Sakuma AP

The Wall Street Journal is calling it without any couching. The headline:

'The U.S. Housing Bust Is Over'

The lede:

"The housing market has turned—at last.

"The U.S. finally has moved beyond attention-grabbing predictions from housing 'experts' that housing is bottoming. The numbers are now convincing.

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The Two-Way
8:36 am
Wed July 11, 2012

JPMorgan Will Move To 'Claw Back' Millions From Execs Who Bungled Billions

Another kind of claws at work. Meanwhile, JPMorgan is going to see if legal steps will let it "clawback" some money paid to executives.
John MacDougall AFP/Getty Images

Originally published on Wed July 11, 2012 9:20 am

JPMorgan Chase CEO Jamie Dimon predicted this would happen: The bank "plans to reclaim millions of dollars in stock from executives at the center of the trading blunder that shocked Wall Street," The Wall Street Journal reports

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The Two-Way
6:53 am
Wed July 11, 2012

In Scranton, Pa., City Workers Sue Over Having Wages Slashed

Roger Leonard, a heavy equipment operator for the city of Scranton, Pa., saw his pay plunge to $340 from about $900 for two weeks' work after the mayor cut city-employee pay to minimum wage.
Jeff Brady NPR

Originally published on Wed July 11, 2012 9:32 am

The city of Scranton, Penn. now faces two federal lawsuits over a decision last week to slash public employee's pay to minimum wage. Unions representing the city's workers also are asking Lackawanna County Judge Michael Barrasse to hold Mayor Chris Doherty in contempt of court.

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