NPR's business news starts with settling suits for big money.
U.S. authorities are pressing JPMorgan Chase to settle lawsuits over bonds backed by subprime mortgages. And the Federal Housing Finance Agency is looking in the range of $6 billion to settle those suits.
JPMorgan Chase is still negotiating with the government. But here's another eye-popping number: The bank has spent about five billion for legal costs in each of the past two years. Transcript provided by NPR, Copyright NPR.
Originally published on Tue August 27, 2013 6:22 pm
In its first "Global Government Requests Report," Facebook has released details on the number of requests it has gotten from government agents for user data.
Facebook reveals that governments around the globe have made 38,000 total requests for user data in the first half of 2013, and the U.S. dwarfs the rest of the world in requests. Up to June 30, the U.S. government asked Facebook for access to accounts of between 20,000 and 21,000 users, the company said.
Facebook has more than 1.1 billion users globally.
Originally published on Tue August 27, 2013 11:33 am
It's been a good year for Tesla Motors, the luxury electric car maker, particularly in California, where it's selling more cars than Porsche, Jaguar, Lincoln, or Buick. In 2013, the company has sold 4,714 cars in the state, according to the California New Car Dealers Association.
Things appear to be looing good on the economic front: The stock market is up over the past year, profits have been rising and the U.S. economy has been growing for four years. Yet, wages for many American workers have been stagnant. To find out why, Renee Montagne talks to David Wessel, economics editor of The Wall Street Journal.
Air conditioning is increasingly becoming a necessity, not a luxury, as the number of Americans living in the Sunbelt grows. In Arizona, many people are struggling to keep up with their utility bills. The federal government does have an energy assistance program, but funding is shrinking, and it favors cold weather states that need heating help.
From member station KJZZ in Phoenix, Jude Joffe-Block reports.