Business and Economy

Business
3:29 am
Thu December 19, 2013

Even If FCC Relaxes Rules, Delta Won't Allow In-Flight Calls

Originally published on Thu December 19, 2013 11:08 am

Transcript

DAVID GREENE, HOST:

If you ever fly, you've heard it countless times: You cannot use your cellphone while en route to your destination. Federal rules will not allow it. That could change now, as the FCC considers relaxing those rules. But in advance of that decision yesterday, Delta Airlines said it plans to remain committed to high altitude quiet time.

Here's NPR's Kathy Lohr.

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NPR Story
3:29 am
Thu December 19, 2013

Senate Follows House, Passes Budget Deal

Originally published on Thu December 19, 2013 11:08 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene. Despite some very loud grumbling, both chambers of Congress have approved a two-year federal budget plan. This drops the odds of a federal government shutdown early next year, but it certainly does not end the debate over federal spending.

INSKEEP: NPR's Tamara Keith is on the line this morning to talk about one figure from the agreement, which suggests the scale of budget fights ahead. And Tamara, what's the figure?

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All Tech Considered
2:04 am
Thu December 19, 2013

Bay Area's Steep Housing Costs Spark Return To Communal Living

Residents of the Embassy House, a communal home near San Francisco's Haight-Ashbury district, eat dinner together every Sunday.
Elise Hu NPR

Originally published on Thu December 19, 2013 11:08 am

This week, we're exploring the San Francisco Bay Area and the way income inequality is affecting the region. Check out the other pieces of the week, aggregated on this page.

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Business and Economy
6:22 pm
Wed December 18, 2013

Oklahoma Finance Officials Project Revenue Decline

Oklahoma Secretary of Finance Preston Doerflinger
Credit Oklahoma PCA / Flickr Creative Commons

Oklahoma’s top finance official says state agencies should prepare for reduced or flat budgets in the next fiscal year.

“It will be tight,” Secretary of Finance Preston Doerflinger said describing the prospects for the 2015 fiscal year budget.

Early estimates show the Legislature will have about $6.9 billion to appropriate for the fiscal year that begins July 1. That's about $273 million, or 3.8 percent, less than lawmakers spent on the current fiscal year.

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Planet Money
4:49 pm
Wed December 18, 2013

A Tiny Taper, In 2 Graphs

Tapir
Flickr

In the past five years, the Federal Reserve has created roughly $3 trillion out of thin air.

The Fed uses the money it creates out of thin air to buy bonds. The idea is to drive down interest rates, which encourages people and businesses to borrow and spend money. It's called quantitative easing.

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The Two-Way
4:46 pm
Wed December 18, 2013

Top SAC Capital Manager Guilty Of Insider Trading

Michael Steinberg (left) departs federal court in Manhattan on Wednesday after being found guilty on charges that he traded on insider information.
Lucas Jackson Reuters/Landov

Originally published on Wed December 18, 2013 6:42 pm

Michael Steinberg, a top portfolio manager at SAC Capital Advisors, has been found guilty of insider trading — the latest conviction stemming from a years-long federal investigation into the hedge fund's activities.

Steinberg was found guilty on five counts of conspiracy and securities fraud.

Reuters writes:

"Prosecutors said he traded on confidential information that was passed to him by an employee, who later admitted to swapping illegal tips with friends at other firms."

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Economy
4:44 pm
Wed December 18, 2013

Federal Reserve To Cut Stimulus By $10 Billion A Month

Originally published on Wed December 18, 2013 5:34 pm

Transcript

MELISSA BLOCK, HOST:

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

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

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Shots - Health News
3:05 pm
Wed December 18, 2013

People Buying Health Insurance Get A Bit More Time To Pay

Oregon is still using paper applications to enroll people through the Affordable Care Act.
iStockphoto

Originally published on Wed December 18, 2013 5:34 pm

There are seven shopping days left until Christmas. But there are just five days until another important deadline — the last day to sign up for health insurance under the Affordable Care Act if you want coverage to start January 1.

After a slow start, activity on the federal website HealthCare.gov has been heavy all month. And with the deadline approaching, some people are getting worried that they won't get signed up in time.

And this being the health care law, it's complicated. There is more than one deadline.

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The Salt
2:23 pm
Wed December 18, 2013

The Man Who Duped Millionaires Into Paying Big Bucks For Fake Wine

iStockphoto

Originally published on Fri December 20, 2013 3:32 pm

He was the man with "the nose of a blood hound," as one wine critic once put it.

Rudy Kurniawan was once the toast of the fine-wine world, renowned for his ability to find some of the rarest — and priciest — wines in the world.

He was also, prosecutors alleged, a fraud who duped some of the country's wealthiest wine purchasers with counterfeit bottles of wine that he manufactured in his home laboratory.

And on Wednesday, a Manhattan jury agreed, finding Kurniawan guilty of fraud in connection with selling counterfeit wines and of defrauding a finance company.

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The Two-Way
1:22 pm
Wed December 18, 2013

Fed Says It Will Begin Tapering Off Its Stimulus In January

Federal Reserve Chairman Ben Bernanke delivers remarks Wednesday in Washington, at his final planned news conference before he steps down.
Jonathan Ernst Reuters/Landov

Originally published on Wed December 18, 2013 6:31 pm

(This post was last updated at 3:50 p.m. ET)

Citing an improving economy, the Federal Reserve announced Wednesday that it would begin gradually paring back an $85 billion-a-month bond-buying program aimed at stimulating growth.

The move was seen as a tentative vote of confidence and comes amid an improving jobs picture and other positive signs as the U.S. continues struggles to emerge from the worst downturn since the Great Depression.

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