Economy & Business

The Two-Way
3:12 pm
Thu August 15, 2013

Ford Lowers Mileage Rating On Its C-Max Hybrid

A Ford C-MAX hybrid vehicle goes through assembly at the Michigan Assembly Plant in Wayne, last November.
Bill Pugliano Getty Images

Originally published on Fri August 16, 2013 5:05 am

(Updated 8:40 p.m. ET)

Ford on Thursday backpedaled on the stated fuel economy for its C-Max hybrid after customer complaints and an EPA investigation found that the vehicle wasn't living up to its advertised 47 mpg.

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Business
9:36 am
Thu August 15, 2013

Can Paula Deen Recover (And Who Really Pays If She Doesn't)?

In better times — just last year — Paula Deen promoted a new line of furniture. While Universal Furniture International said in July it will continue to market the Paula Deen Home Collection, several other endorsers have dropped Paula Deen products.
Joshua Gunter The Plain Dealer/Landov

Originally published on Thu August 15, 2013 11:10 am

Paula Deen might have a hard time recovering.

The other day, a judge threw out charges of racial discrimination filed against the celebrity chef. That made sense, since the person suing Deen is white.

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The Two-Way
8:53 am
Thu August 15, 2013

Wal-Mart Blames Economy And Payroll Taxes For Slowed Earnings

Don Emmert AFP/Getty Images

Originally published on Thu August 15, 2013 3:23 pm

Wal-Mart is blaming depressed demand amid a still-shaky economy and a rise in payroll taxes for disappointing earnings in the quarter ending July 31.

The world's largest retailer said Thursday that its net income rose to $4.07 billion, barely above the $4.02 billion it earned in the same quarter last year.

According to Reuters, sales at U.S. stores that have been open for at least one year fell 0.3 percent.

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The Two-Way
8:00 am
Thu August 15, 2013

Jobless Claims Drop To Pre-Recession Level

The scene at a career fair held by the National Urban League last month in Philadelphia.
Mark Makela Reuters/Landov

Originally published on Thu August 15, 2013 9:37 am

There were 320,000 first-time claims for unemployment insurance filed last week, the Employment and Training Administration reports.

Not only is that 15,000 fewer than had been filed the week before, it's also the lowest number for any single week since before the U.S. economy officially slipped into its most recent recession, in December 2007.

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Business
4:24 am
Thu August 15, 2013

Team Walks Florida's Beaches With Google Eye

Originally published on Thu August 15, 2013 5:44 am

Google Street View cars have been photographing roads and highways for years, but how about this: Google Beach View. Florida is paying a pair of intrepid trekkers to walk all 825 miles of the state's beachfront carrying the Google Eye camera in a 40 pound backpack — blue orb sticking out the top.

Business
4:24 am
Thu August 15, 2013

Auto Industry's Pent-Up Demand Expected To Ease Slowly

Transcript

DAVID GREENE, HOST:

If economists looking at the housing sector are generally optimistic, those who follow the auto industry are practically brimming with glee. Right now, the average age of cars on the road is the oldest ever recorded, at 11-and-a-half years, which means at some time, people will have to buy newer ones. As NPR's Sonari Glinton reports, that time may be now.

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Business
4:24 am
Thu August 15, 2013

2 Ex-Traders Accused Of Covering Up JPMorgan Losses

Federal prosecutors in the U.S. have charged two former traders in JPMorgan Chase's London office with securities fraud. The two men were part of the so-called "London Whale" case, which ended up costing the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting losses.

Business
4:24 am
Thu August 15, 2013

Attorney Dispenses Legal Advice As Well As Shaving Cream

Transcript

DAVID GREENE, HOST:

Law school grads have been facing a tough job market, and this has prompted some young entrepreneurial attorneys to try out hybrid businesses.

Diane Orson from member station WNPR reports on one Connecticut attorney who's opened a shop that combines his passion for the law - with his skill as a barber.

DIANE ORSON, BYLINE: Donald Howard says he first got the hybrid-business idea working as a paralegal for a personal injury attorney who doubled as a sports agent. Then he saw the concept again on a reality television show.

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Business
1:56 am
Thu August 15, 2013

Pent-Up Demand Is Boosting Home Sales, But Can It Last?

Carpenters work on a housing site in Brandywine, Md., on May 31. Pent-up demand for homes could create jobs and help the struggling U.S. economy.
Gary Cameron Reuters/Landov

Originally published on Thu August 15, 2013 1:33 pm

Six years ago, the U.S. housing market plunged off a cliff. Now prices are bouncing back up — sharply in many markets.

That has some real estate analysts saying 2013 may mark the turning point — when pent-up demand will revive the housing sector and boost the broader economy.

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Law
4:27 pm
Wed August 14, 2013

Former JPMorgan Chase Traders Charged Over 'White Whale' Bets

Originally published on Fri August 16, 2013 7:40 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Federal prosecutors have charged two former JPMorgan Chase traders with securities fraud. The two men worked in London. And they are part of the so-called London Whale case, which cost the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting lawsuits. More from NPR's Jim Zarroli.

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