Originally published on Thu September 12, 2013 5:09 am
A federal judge in San Francisco on Thursday hears arguments over a radical plan to stem the foreclosure crisis. The City of Richmond is proposing to buy underwater mortgages in order to help keep local residents in their homes. If banks don't want to sell those mortgages, the city says it is prepared to invoke eminent domain to seize the mortgages.
Originally published on Thu September 12, 2013 4:26 am
Mexico's president has unveiled a major shakeup of the country's tax system. His administration says it's aimed at capturing more of Mexico's paltry tax collection. Critics say it's unfairly targeting the middle class. Among the items slated for taxing: dog food and private school tuition.
It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.
Celebrity editor Tina Brown announced Wednesday that she's leaving The Daily Beast to launch her own media company. She has been a regular guest on Morning Edition. Brown, 59, plans to produce live forums on news topics.
Brown has edited some of the most prestigious publications: Vanity Fair, The New Yorker and Tattler. Five years ago, she helped found The Daily Beast — a news and opinion website. Now, the editor-in-chief says she's leaving to do what she calls "theatrical journalism" before live audiences.
Sept. 15 is the anniversary of collapse of Lehman Brothers, which many see as a watershed moment in the financial crisis. We look back at a time when fear and uncertainty gripped financial markets and policymakers around the world and drove the world economy into the Great Recession.
Wall Street is buzzing about Verizon today. The telecommunications giant carried out the biggest sale in the history of the bond market, $49 billion worth of corporate bonds. Verizon will use the money to finance its recent mega deal with Vodafone.
As NPR's Jim Zarroli reports, the sale comes at a time when interest rates are rising. And companies that want to raise money can't afford to lose any time.
Originally published on Wed September 11, 2013 3:20 pm
The U.S. Appeals Court in San Francisco refused Tuesday to dismiss a lawsuit that accuses Google of violating federal wiretapping laws by collecting emails and data about people's Web surfing habits as the company's Street View cars crisscrossed the world.
Millions of people use unencrypted wireless networks in their homes to access the Internet. The lawsuit alleges Google's Street View cars were listening in to those digital conversations and making recordings of the traffic in violation of federal law.