Business & Technology

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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Economy
2:22 am
Wed July 11, 2012

Euro Currency Still Faring Well, For Now

Over the last 13 years, the euro has been worth on average $1.21, only a penny less than its current price of $1.22 per euro.
Michael Probst AP

Originally published on Wed July 11, 2012 11:42 am

The euro touched a two-year low against the dollar Tuesday, as concerns about the eurozone debt crisis continued.

Despite a recession across much of the eurozone and even predictions of the currency's demise, however, the euro has held up relatively well during this crisis.

Over the last 13 year, it has taken on average $1.21 to buy a euro. Now, even in this midst of this crisis, it's worth virtually the same ($1.22).

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Farming
4:40 pm
Tue July 10, 2012

Louisiana farmers plant more soybeans, less cotton

The U.S. Department of Agriculture says Louisiana farmers are planting more soybeans than they have in 14 years but may tie a record low for cotton.

Changing weather patterns appeared to be a factor as the wet early spring gave way to a drier pattern. So farmers are planting more soybeans and less rice than originally expected.

The USDA's July crop report says Louisiana farmers are planting 1.14 million acres of soybeans, the highest since 1.2 million acres in 1998 and 70,000 acres more than projected in March.

The Two-Way
3:21 pm
Tue July 10, 2012

Reports: Google, FTC Will Settle Over Safari Privacy Breach

According to several news report, Google and the Federal Trade Commission are close to reaching an agreement over charges of a privacy breach.

The Wall Street Journal reports that the tentative deal would have Google pay $22.5 million over charges that it bypassed the privacy settings of users of Apple's Safari web browser.

The Journal reports:

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Parenting
11:42 am
Tue July 10, 2012

Mom Entrepreneurs On Deadlines, Budgets, And Kids

Transcript

MARIA HINOJOSA, HOST:

I'm Maria Hinojosa, and this is TELL ME MORE, from NPR News. Michel Martin is away. They say it takes a village to raise a child, but maybe you just need a few moms in your corner when you decide you want to build that small business you've been thinking about. Every week, we check in with a diverse group of parents for their common sense and savvy advice. And today, we want to talk about a growing trend among moms: entrepreneurship.

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Economy
11:27 am
Tue July 10, 2012

Out-Of-Work Teens Struggle Later

Originally published on Tue July 10, 2012 11:42 am

Transcript

MARIA HINOJOSA, HOST:

I'm Maria Hinojosa, and this is TELL ME MORE, from NPR News. Michel Martin is away. Coming up, murders in Chicago are on the rise. We'll ask why and what's being done about it. That's in a few minutes.

But, first, to matters of personal finance. Remember pulling yourself up by your own bootstraps? Well, economic mobility is getting tougher in this country, especially for the poorest people in our society. That's according to a new Pew Research report released on Monday.

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Business & Technology
12:33 pm
Mon July 9, 2012

Covington-based Smoothie King chain sold

Covington-based Smoothie King Franchises Inc. is being sold to a South Korean company.

Smoothie King currently has more than 600 units operating in 32 states, the Caymans and the Republic of Korea.

The purchase price was not disclosed in a news release on Monday.

Buyer SK USA Inc. is headed by Chief Executive Officer Wan Kim, a Boston University graduate who opened his first Smoothie King in 2003. Since then Wan's Smoothies Korea has opened more than 100 locations.

Business & Technology
11:53 am
Mon July 9, 2012

Oil rises slightly to near $85 on stimulus hopes

SINGAPORE (AP) — Oil rose slightly to near $85 a barrel today, clawing back some of a large drop from the previous session amid hope that weak U.S. economic growth may trigger new stimulus measures.

The Labor Department on Friday said the U.S. economy added 80,000 jobs last month, which was fewer than expected and prompted speculation that the U.S. Federal Reserve may implement more monetary stimulus measures known as quantitative easing.

Last week, the European Central Bank and the People's Bank of China both cut lending rates in the bid to boost flagging economic growth.

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