This is MORNING EDITION from NPR News, I'm Renee Montagne.
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And I'm Steve Inskeep. Federal regulators have unveiled the final version of what has come to be called the Volcker Rule. It's a big part of the financial reform that went into affect three years ago. It's taken all those years to come up with the language that will set new limits on the kinds of trading that banks can do and cannot do. NPR's Jim Zarolli joins us now to talk about this. Hi Jim.
The biggest player in food distribution is gobbling up a rival.
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Sysco, which supplies places, such as restaurants and hospitals, is planning to buy U.S. Foods in a deal worth more than $8 billion. If approved by regulators, this could turn Sysco into a distribution colossus.
You may recall the guy who ran for governor of New York as part of the: Rent Is Too Damned High Party. Turns out, it is. A new study from the Harvard Joint Center for Housing Studies shows more and more families spending more and more of their monthly budgets on rising rents - leaving less money for everything else, including food.
Chris Herbert is one of the report's authors, and he spoke with our colleague, David Greene.
NPR's business news begins with signs of a Chinese revival.
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MONTAGNE: The latest economic numbers out of China are adding to hope for a global economic upturn. Growth figures for November show China's factory output is up 10 percent from a year ago, and exports are up almost 13 percent. That rebound has been helped by a boost in demand for Chinese goods in the United States and the European Union in the lead-up to the holiday shopping season. Transcript provided by NPR, Copyright NPR.
Oil giant BP is challenging hundreds of millions of dollars in claims that were filed by businesses after the company's 2010 oil spill in the Gulf of Mexico.
The total price tag for BP's oil spill is huge — $42.5 billion. At issue here is a fraction of that — but still a lot of money. BP says $540 million has been awarded to businesses for losses that "are either nonexistent, exaggerated or have nothing to do with the Deepwater Horizon accident."
Women are still not making headway when it comes to getting on corporate boards or into senior leadership roles within big companies.
New research out Tuesday examined Fortune 500 Companies and found that women hold only about 17 percent of the seats on boards of directors, and they have an even smaller share — about 15 percent — of senior executive positions.
The track record of commercial products designed with privacy as a top priority has been abysmal — at least until recently. The ephemeral texting app Snapchat is turning assumptions upside down about young people and their desire for digital privacy.
Fred Cate, director of applied cybersecurity research at Indiana University, is an expert on privacy in the digital age. But when it comes to the viability of tech products that promise privacy, Cate has always been skeptical.
Originally published on Mon December 9, 2013 4:59 pm
Critics of the federal auto bailout will no longer be able to refer derisively to GM as "Government Motors" — on Monday, Treasury Secretary Jack Lew announced the U.S. government has sold its remaining shares in the carmaker.
"With the final sale of GM stock, this important chapter in our nation's history is now closed," Lew said, announcing the sale.
The net? Taxpayers lost $10.7 billion on the deal.