Economy & Business

Business
5:04 am
Tue June 18, 2013

Business News

Originally published on Tue June 18, 2013 12:52 pm

Transcript

DAVID GREENE, HOST:

NPR's business news begins with Ben Bernanke's future.

(SOUNDBITE OF MUSIC)

GREENE: OK, President Obama has given the clearest hint yet, that Ben Bernanke's time as chairman of the Federal Reserve may soon be up. In an interview that aired last night on PBS's "Charlie Rose" program, the president said this...

(SOUNDBITE OF "CHARLIE ROSE" SHOW)

PRESIDENT BARACK OBAMA: I think Ben Bernanke's done an outstanding job. Ben Bernanke's a little bit like Bob Mueller, the head of the FBI...

CHARLIE ROSE, HOST:

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Business
5:04 am
Tue June 18, 2013

Feds Raid 7-Eleven Stores In Immigration Scam

Originally published on Tue June 18, 2013 12:52 pm

Transcript

STEVE INSKEEP, HOST:

Some other news. Authorities in New York have announced the arrest of eight men and one woman who operate several 7-Eleven convenience stores in New York and in Virginia. They're accused of staffing their stores with undocumented workers and then stealing those workers' wages.

From member station WNYC, Ilya Marritz has details.

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Business
5:04 am
Tue June 18, 2013

European Aviation Firms Spotlighted At Paris Air Show

Originally published on Tue June 18, 2013 12:52 pm

Transcript

DAVID GREENE, HOST:

The Paris Air Show is celebrating its golden anniversary this year. Even after 50 years, it remains the leading showcase for the global aerospace industry.

But as NPR's Eleanor Beardsley reports, with U.S. Defense cuts, this year it's the Europeans who are taking the spotlight.

UNIDENTIFIED MAN #1: Welcome to the Paris Air Show...

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Business
5:04 am
Tue June 18, 2013

The Last Word In Business

Originally published on Tue June 18, 2013 12:52 pm

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is home detention.

The story comes to us from New Zealand, where authorities have been locking up some criminals in their homes rather than jail. House arrest is a lot cheaper, but it turns out that serving time at home is not as comfortable as you might think.

DAVID GREENE, HOST:

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Around the Nation
2:05 am
Tue June 18, 2013

Why Buy A House When You Can Buy A Mountain?

Jeff Rosenthal, co-founder of Summit, in front of Powzilla, an open-top Suburban turned rock crawler.
Elise Hu NPR

Originally published on Tue June 18, 2013 12:55 pm

It's not your everyday real estate deal. A team of young entrepreneurs persuaded about 50 deep-pocketed investors to help them purchase a mountain. The deal just closed in April, and development on Utah's nearly 10,000-acre Powder Mountain is now underway.

"When we made those first phone calls, everybody's like, what? That being said, they know that we aren't kidding," says Jeff Rosenthal, co-founder of Summit, the group that led the purchase of the peak.

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The Salt
5:40 pm
Mon June 17, 2013

Dirty Spuds? Alleged Potato Cartel Accused Of Price Fixing

Clearly, he's as surprised by the allegations as the rest of us.
iStockphoto.com

Originally published on Tue June 18, 2013 3:09 pm

Editor's Note: Many of you noted that the price for a 10-pound bag of potatoes cited in the lawsuit seems ridiculously high. So we look into the matter further — you can read what we found in this follow-up post.

High-tech spying with satellites. Intimidation. Price fixing.

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Technology
3:26 pm
Mon June 17, 2013

Google's 'Internet Balloons' Could Expand Online Access

Originally published on Mon June 17, 2013 4:45 pm

Google's "Project Loon" just launched in New Zealand — it uses balloons floating in the stratosphere to bring high-speed Internet access to remote areas.

World
3:26 pm
Mon June 17, 2013

G-8 Summit To Tackle Trade, Syria, Slow Economic Growth

Originally published on Mon June 17, 2013 4:45 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel. We begin this hour with the annual Group of 8 summit in Northern Ireland. Today, President Obama and the other G8 leaders huddled at a resort there. Among the many topics, the bloody civil war in Syria. President Obama and Russian President Vladimir Putin sat down to talk about Syria, acknowledging that they have, as Mr. Obama said, differing perspectives.

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Law
3:26 pm
Mon June 17, 2013

High Court Sides With Regulators In Drug Patent Case

Originally published on Mon June 17, 2013 4:45 pm

The Supreme Court sided with government regulators in an important case involving the pharmaceutical industry and patent law. At issue were contracts between "brand-name" pharmaceutical companies and "generic" producers in which the brand-name company paid the generic not to compete. The court said the Federal Trade Commission could challenge such contracts.

The Two-Way
2:59 pm
Mon June 17, 2013

FTC Can Sue Firms In 'Pay For Delay' Drug Deals, Court Rules

The Supreme Court has ruled that the FTC can challenge arrangements between makers of generic drugs and makers of brand-name products such as AndroGel, seen here on a computer monitor screen.
Reed Saxon AP

When the maker of a brand-name drug pays a maker of generic drugs to not produce a lower-priced version of their product, the Federal Trade Commission can challenge the arrangement on antitrust grounds, the Supreme Court ruled Monday. The ruling may end the era of what regulators call "pay-for-delay" deals.

The justices voted 5-3 to allow a case to go forward in which the FTC is challenging one of many such deals. Several companies are involved in the case, including Solvay Pharmaceuticals, maker of AndroGel, and generic-drug maker Actavis.

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