It is freezing here in Southern California. Overnight, temperatures plunged into the 20s and that cold front is threatening citrus and avocado orchards through Central and Southern California. Citrus alone is a $20 billion industry here. So growers are scrambling to protect their crops.
We reached one of them - Jim Churchill - who grows Pixie tangerines in the Ojai valley north of Los Angeles. He was spending the night in his orchard. And Jim Churchill, good morning. And this is probably the first of a few nights, right?
NPR's business news starts with an Asian breakthrough for Apple.
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INSKEEP: Wireless phone carrier China Mobile has signed a deal with Apple to offer iPhones on its network. According to The Wall Street Journal, the deal would give Apple access to China Mobile's many subscribers - around 700 million of them. That's about seven times more subscribers than Verizon - which is the largest mobile carrier in the United States.
A payday loan is a costly form of credit operating on the fringes of the economy. That's why the target of a new crackdown by federal regulators may surprise you: Instead of a forlorn-looking storefront with a garish neon sign, it's your familiar neighborhood bank.
A small but growing number of banks, including some major players, have been offering the equivalent of payday loans, calling them "deposit advances."
That is, at least, until bank regulators stepped in Nov. 21 and put new restrictions on the loans.
Wal-Mart opened its first two stores in Washington, D.C. yesterday, earning cheers from the district's mayor and some residents who say they'll be happy to shop in the city and not in the suburbs. But there have been months of debate over the wages the big box store pays its employees. Some activists and lawmakers say Wal-Mart does not pay workers enough to live on.