Business and Economy

The Two-Way
7:07 pm
Thu July 17, 2014

FedEx Charged With Shipping Drugs For Illegal Online Pharmacies

FedEx was indicted Thursday on charges of assisting illegal online pharmacies by shipping controlled substances.
Justin Sullivan Getty Images

Originally published on Thu July 17, 2014 7:28 pm

A federal grand jury has indicted FedEx on charges of assisting illegal pharmacies. Prosecutors say the shipping company knowingly distributed controlled substances, NPR's Carrie Johnson reports.

FedEx is "accused of conspiring to distribute prescription drugs to people who never met with doctors — a violation of the Controlled Substances Act," Johnson says.

She says prosecutors in San Francisco demanded that representatives for FedEx appear in court on July 29.

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Economy
4:36 pm
Thu July 17, 2014

Latest Wrinkle In The Jobs Debate: Blame The Boomers

Participation in the workforce has dropped significantly since 2007, and economists say more than half of the dropouts may never return.
Spencer Platt Getty Images

Originally published on Mon July 21, 2014 12:46 pm

Since late 2007, the U.S. labor force has shrunk significantly, raising questions about where former workers have gone and why.

Now the White House Council of Economic Advisers says it has found answers and has compiled them into a detailed research report released Thursday.

As it turns out, most of the missing workers have been hiding in plain sight: They are retiring baby boomers.

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News
4:24 pm
Thu July 17, 2014

White House Urges Lawmakers To Address Popular Tax Dodge

Ireland (shown here in this Dingle Peninsula photo) has been among the greenest pastures for countries seeking to reduce their tax liabilities through a process called "corporate inversion."
iStockphoto

Originally published on Thu July 17, 2014 7:40 pm

When is it OK for an American company to avoid paying American taxes?

That's the question the Senate Finance Committee will wrestle with next week as the Obama administration urges lawmakers to make it harder for companies to duck corporate taxes by setting up shop overseas.

The latest tax-cutting strategy to go under the microscope, these so-called corporate inversions are a buttoned-down variation of an older, sexier tax dodge called the "naked inversion."

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Business
3:53 pm
Thu July 17, 2014

Lawmakers Call For GM's Top Lawyer To Step Down

Originally published on Thu July 17, 2014 7:40 pm

Transcript

AUDIE CORNISH, HOST:

At a Senate hearing today, there were calls for General Motors top lawyer to step down. Recent media reports have made clear that company lawyers knew faulty ignition switches were causing fatal accidents. Despite that GM blocked internal efforts to issue a recall and they kept information from federal safety regulators. The ignition defect is responsible for at least 13 deaths and will cost GM billions of dollars. NPR's Sonari Glinton has the latest.

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Business
3:53 pm
Thu July 17, 2014

Microsoft Announces Largest Job Cut In Its History

Originally published on Thu July 17, 2014 7:40 pm

Transcript

ROBERT SIEGEL, HOST:

Microsoft announced today the largest job cuts in the company's history. Eighteen thousand jobs will be eliminated over the next year. During Microsoft's last big round of layoffs, the company was coping with a worldwide recession. That was in 2009. Today Microsoft is trying to catch up with the mobile explosion, as NPR's Aarti Shahani reports.

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The Two-Way
11:31 am
Thu July 17, 2014

CEO Of Ignition Switch Maker Says No Responsibility For GM Deaths

Executive vice president and general counsel at General Motors Co. Michael Millikin (from left), GM CEO Mary Barra, CEO and president of Delphi Automotive PLC Rodney O'Neal and chairman of the firm at Jenner & Block Anton Valukas testify before a Senate Commerce, Science and Transportation Committee hearing.
Jim Lo Scalzo EPA/Landov

Originally published on Thu July 17, 2014 1:52 pm

The CEO of the manufacturer of the ignition switches that ended up in recalled General Motors cars said his company bears no responsibility for deaths resulting from the part, which was redesigned according to GM specifications.

"We had a product that we worked with General Motors to develop," Delphi Automotive's Rodney O'Neal told a Senate subcommittee looking into the ignition switch failure that caused at least 13 deaths among drivers and passengers in GM cars.

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The Protojournalist
11:09 am
Thu July 17, 2014

Kooky Kickstarters — Why They Succeed

Project Title: Secrets Of A Kick*ss Kickstarter

Category: Journalism

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Business
10:22 am
Thu July 17, 2014

Microsoft Announces Biggest Layoffs Yet: Up To 18,000 Workers

In the largest layoff in the company's history, it's stripping 14 percent of its workforce. CEO Satya Nadella says it's part of a plan to make the 39-year-old company more agile and productive.

The Two-Way
9:07 am
Thu July 17, 2014

Australia Repeals An Unpopular Tax On Carbon Emissions

An oil refinery is pictured in the southern Sydney suburb of Kurnell earlier this week. Australia's Senate voted on Thursday to scrap the country's carbon tax and plans for emissions trading — a major victory for conservative Prime Minister Tony Abbott.
Jason Reed Reuters/Landov

Originally published on Thu July 17, 2014 9:47 am

Australia became the first country in the world to repeal a carbon tax on the nation's worst greenhouse gas polluters, as Prime Minister Tony Abbott made good on a campaign promise to get rid of the unpopular law.

The Senate voted 39 to 32 to eliminate the tax enacted by the previous center-left government two years ago. The law imposed the equivalent of a $22.60 tax per metric ton of carbon dioxide emissions on about 350 of the nation's worst polluters.

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The Two-Way
7:33 am
Thu July 17, 2014

Microsoft Will Cut As Many As 18,000 Jobs

Originally published on Thu July 17, 2014 8:23 am

A large layoff is under way at Microsoft, as the technology company says it will cut 13,000 jobs in the next six months. All but 500 of the layoffs are related to the Nokia phone division the company acquired in April. Microsoft says it might shed as many as 18,000 jobs as it restructures itself.

The company says it will complete most of the layoffs by the end of this year, and complete the restructuring by next June.

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