Economy & Business

TED Radio Hour
8:36 am
Fri August 23, 2013

Is Conflict Good For Progress?

"Thinking partners who aren't echo chambers. I wonder how many of us have, or dare to have, such collaborators." - Margaret Heffernan
James Duncan Davidson TED

Part 4 of the TED Radio Hour episode Making Mistakes.

About Margaret Heffernan's TEDTalk

Most people instinctively avoid conflict, but Margaret Heffernan says good disagreement is central to progress. She argues the best partners aren't echo chambers, and how great teams, relationships and businesses allow people to deeply disagree.

About Margaret Heffernan

Read more
The Two-Way
8:34 am
Fri August 23, 2013

Microsoft CEO Ballmer Retiring Within The Next Year

Microsoft CEO Steve Ballmer speaks at the Microsoft "Build" conference in San Francisco in June.
Robert Galbraith Reuters/Landov

Originally published on Fri August 23, 2013 1:52 pm

Steve Ballmer will retire as CEO at Microsoft within the next 12 months, the software giant announced Friday.

According to the company:

"In the meantime, Ballmer will continue as CEO and will lead Microsoft through the next steps of its transformation to a devices and services company that empowers people for the activities they value most."

Ballmer says in the same statement that:

Read more
Business
3:21 am
Fri August 23, 2013

Technical Problems Force Nasdaq To Shut Down For 3 Hours

Originally published on Fri August 23, 2013 6:25 am

The stock market revealed its vulnerability again on Thursday, in this age of high-speed electronic trading. The Nasdaq, where more than 3,000 tech-related companies are publicly traded, was shut down for more than three hours.

Business
3:21 am
Fri August 23, 2013

Unemployed Man Holds Sign In Philly: 'I Need A Job'

Originally published on Fri August 23, 2013 9:33 am

Mark Mercer, 54, has been standing in Philadelphia's financial district holding a sign that reads: "I don't want your change. I need a job." Dressed for the office in black shoes and a black suit, Mercer says he's handed out more than 100 resumes.

Planet Money
2:24 am
Fri August 23, 2013

The Charity That Just Gives Money To Poor People

Bernard Omondi got $1,000 from GiveDirectly.
Jacob Goldstein NPR

Originally published on Fri August 23, 2013 12:41 pm

For more of our reporting on this story, please see our recent column in the New York Times Magazine, and the latest episode of This American Life.

Read more
Business
4:08 pm
Thu August 22, 2013

Nasdaq Trading Halted For Hours By Technical Glitch

Trading on the Nasdaq exchange was halted today due to an unspecified technical glitch. The shutdown rattled investors and raised fresh concerns about the safety and stability of financial markets. Nasdaq in particular has experienced technological mishaps, most notably during the Facebook IPO in 2012.

Business
4:08 pm
Thu August 22, 2013

Is Government's Renewed Push On Mortgage Fraud Too Late?

Foreclosures increased dramatically as a result of risky subprime loans during the 2000s.
Justin Sullivan Getty Images

Originally published on Thu August 22, 2013 4:42 pm

"Remain aggressive." That's the message Attorney General Eric Holder says he has given to prosecutors around the country about pursuing wrongdoing by financial institutions — particularly, wrongdoing related to the financial crisis of 2008.

But as the five-year anniversary of the crisis approaches, the record of prosecutions against high-level Wall Street executives has been dismal.

Read more
Economy
4:08 pm
Thu August 22, 2013

Unemployment Claims Drop To Pre-Recession Levels

More than 330,000 people filed new claims for unemployment insurance benefits last week. That sounds like a big number — and is a slight increase over the previous week — but it's being taken as some very good news. For a month, now, fewer new people are asking for unemployment insurance than at any time since November, 2007. That's before the Great Recession.

The Two-Way
3:55 pm
Thu August 22, 2013

Detroit's Packard Complex Could Sell Below $100,000 If Deal Fails

Detroit's abandoned Packard car plant, seen here in a 2010 photo, could eventually sell for $21,000 if a development deal falls through, a Wayne County official says.
Carlos Osorio AP

Originally published on Thu August 22, 2013 5:10 pm

The Packard plant, which once symbolized the might of America's auto industry, is at risk of heading to auction if a pending development deal fails. If that happens, The Detroit Free Press reports, the 35-acre site eventually could be sold "for as little as $21,000," a figure that comes from Wayne County Deputy Treasurer David Szymanski.

Read more
The Two-Way
12:09 pm
Thu August 22, 2013

Nasdaq Resumes Trading After Halt For Technical Problem

Andrew Burton Getty Images

Originally published on Thu August 22, 2013 5:16 pm

(This post was last updated at 6:14 p.m. ET)

Nasdaq has resumed trading in all securities following a prolonged halt Thursday afternoon caused by a technical glitch.

"NASDAQ will first re-open trading in symbols ZVZZT and AAIT with a 15-minute quoting period beginning at 14:30, with trading beginning at approximately 14:45. All other securities will then be released at 14:55 with a 15-minute quote only period with trading resuming at approximately 15:10," the exchange said in a statement.

Read more

Pages