Originally published on Tue November 12, 2013 1:54 pm
For food producers who sell directly to consumers, credit cards are both a blessing and a curse.
They're a way to do business with cashless customers, but 3 percent of every credit card sale is usually charged to the farmer as a transaction fee. That adds up in a high-volume, low-profit business like agriculture.
"Timothy Massad, the Treasury Department official responsible for overseeing the U.S. rescue of banks and automakers after the credit crisis, will be nominated to head the country's top derivatives regulator."
But leave it to The Wall Street Journal to neatly sum things up in a headline:
NPR's business news starts with tech giants back in court.
(SOUNDBITE OF MUSIC)
WERTHEIMER: Apple and Samsung resumed their legal battles today. Last year, Samsung was found guilty of patent infringement. A judge ordered that Apple be paid a billion dollars in damages. Earlier this year, another judge reduced that amount to $450 million. Now a new trial, where a jury will reconsider both the allegations and the damages awarded. Transcript provided by NPR, Copyright NPR.
And today's last word in business is: singles sales.
Yesterday, as Americans mark Veterans Day, China celebrated Singles Day. The holiday is a Chinese twist on Valentine's Day, a day to focus not on couples but on yourself.
LINDA WERTHEIMER, HOST:
And apparently the concept is good for business. It has led to an unprecedented online shopping spree. Internet sales in China yesterday beat out last year's U.S. Black Friday and Cyber Monday sales combined.
Despite the bankruptcy, parts of downtown Detroit are going gangbusters, and that's in large part because of one guy. Online mortgage mogul Dan Gilbert has bought up 40 buildings and counting. He's filling those buildings â€” some of which used to be vacant â€” with new businesses. But some residents are wary of his expanding reach in the city.
Its MORNING EDITION from NPR News. I'm Steve Inskeep.
LINDA WERTHEIMER, HOST:
And I'm Linda Wertheimer. We'll get a look this week at how many people have signed up for health insurance on the new government exchanges. According to the Wall Street Journal, fewer than 50,000 people have obtained coverage so far through the federal website. That's well below the government's original forecasts.
My parents moved away from Lincoln, Ill., two decades ago, when I was in college. I hardly ever get back there. But my mom still works in Lincoln, and it was to Lincoln I headed to meet her this fall, after returning to the U.S. from the Middle East.