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.
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.
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.
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.
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.
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.