Business and Economy

The Two-Way
7:47 pm
Fri January 10, 2014

Neiman Marcus Says Hackers Stole Credit Card Data

Upscale retailer Neiman Marcus isn't yet saying how many customers might be at risk, but it is confirming that a breach of credit card data took place. The company says it learned of "potentially unauthorized payment card activity" before Christmas. The company says it is working with federal investigators, and a forensics team is trying to determine the size of the breach.

The digital security expert Brian Krebs wrote about the stolen credit card data today:

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The Two-Way
6:58 pm
Fri January 10, 2014

$1.35 Billion In Losses Reported By Nevada's Major Casinos

Large casinos in Nevada are continuing their losing streak, reporting more than a billion dollars in losses for the most recent fiscal year. Here, a view of Paris Las Vegas, a hotel and casino located on the Las Vegas Strip.
John Gurzinski AFP/Getty Images

Nevada's big casinos are on a losing streak. For the fifth straight year, the state's largest casinos are reporting net losses – in this case, a total of $1.35 billion in the most recent fiscal year. That's the news from a report released by the Nevada Gaming Control Board Friday, which focuses on casinos that gross at least $1 million in gaming revenue.

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It's All Politics
6:22 pm
Fri January 10, 2014

Will Bad Jobless Data Spur Action On Unemployment Insurance?

Senate Majority Leader Harry Reid, D-Nev., cited the bad December jobless numbers as a reason Congress should extend federal unemployment insurance.
J. Scott Applewhite AP

Originally published on Fri January 10, 2014 6:27 pm

Just as the Senate seemed to descend into another round of partisan gridlock, this time over extending emergency jobless benefits, the arrival of a surprisingly weak December jobs report raised the pressure on Congress to act.

The question is whether news that the economy created a mere 74,000 jobs last month — far fewer than the 200,000 forecasters predicted — delivered enough of a jolt to Capitol Hill, where what seemed like bipartisan progress on the issue early in the week had reverted to partisan nastiness.

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The Salt
4:43 pm
Fri January 10, 2014

American Beer Fans, Praise The Heavens: A Trappist Brewery In U.S.

Spencer Trappist Ale, made by the first official Trappist brewery outside Europe, will go on sale next week in Massachusetts.
Nick Hiller The Spencer Brewery

Originally published on Mon January 13, 2014 3:27 pm

The town of Spencer, in central Massachusetts, isn't well known for ... well, anything, really. But it's about to become internationally famous — at least in beer-drinking circles.

Spencer is home to St. Joseph's Abbey, where robed monks are busy brewing the first American Trappist beer. If all goes as planned, Spencer Trappist Ale will be available in Massachusetts retail stores by the middle of next week.

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Politics
3:47 pm
Fri January 10, 2014

Tech Companies 'Gob-Smacked' To Find NSA Collecting Data

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

Changes are coming soon to the way the National Security Agency gathers information about people all over the globe. President Obama is slated to speak next Friday about what action he'll take to revamp the NSA surveillance programs, which were revealed in news leaks from former NSA contractor Edward Snowden. The president has been meeting with stakeholders for several months, including executives from some of the biggest technology firms.

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Economy
3:47 pm
Fri January 10, 2014

For Target, Holiday Woes Are Worse Than Expected

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

The retail giant Target delivered more bad news today. The company was the victim of a massive security breach before Christmas, and today it announced that that cyber-attack was much worse than originally reported. NPR's Sonari Glinton explains.

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Economy
3:47 pm
Fri January 10, 2014

December Jobs Report Disappoints

Originally published on Fri January 10, 2014 6:19 pm

Transcript

AUDIE CORNISH, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Is it a bad economy or just bad data? That's the question today after a new round of disappointing employment numbers. The government reported the economy added just 74,000 jobs in December, well below expectations. The other surprise, the unemployment rate still dropped.

NPR's John Ydstie spent the day talking with economists about the report, and many say they just don't believe it.

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Planet Money
3:47 pm
Fri January 10, 2014

How A Community Bank Tripped On Footnote 1,861 Of The Volcker Rule

Originally published on Fri January 17, 2014 11:05 am

When people talk about the Volcker Rule, they often mention JPMorgan Chase, the giant bank where a trader recently made a bad bet that lost $6 billion. The Volcker Rule is supposed to put an end to that sort of thing, by prohibiting banks from trading with their own money.

But some banks that are very, very different from JPMorgan Chase are struggling with an obscure provision in the rule. Specifically, footnote 1,861, which bars banks from investing in something called trust-preferred securities — a rather obscure investment favored by lots of small, community banks invest

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Politics
3:44 pm
Fri January 10, 2014

Minimum Wage Fight Takes Shape Across The Map

Trish Gallagher holds a sign for passing motorists to read during a demonstration in support of a higher minimum wage near a Burger King in Boston on Dec. 5. Massachusetts is one of several states considering a minimum wage ballot measure.
BRIAN SNYDER Reuters/Landov

Originally published on Fri January 10, 2014 6:19 pm

You never know where you might find a volunteer with a clipboard looking for signatures trying to get a voter referendum on the local ballot – like Ed Flanagan in the town of North Pole, Alaska.

"I'm out in what's called the North Pole transfer station. This facility has about 50 metal dumpsters arranged in a fenced area. Folks back up and throw their household trash in there. This is a very busy place," he says.

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Business
2:49 pm
Fri January 10, 2014

What's Behind The Drop In Unemployment

Shoppers make a purchase at an outlet mall in Los Angeles. Employers added 55,000 jobs in the retail sector in December.
Gus Ruelas Reuters/Landov

Originally published on Fri January 10, 2014 2:20 pm

Whether you had a job or were looking for one, December was a gloomy month.

The Labor Department said Friday that for December, employers added only 74,000 jobs — about a third as many as most economists had been predicting. That was the lowest level of job creation in three years — not exactly the news that 10.4 million job seekers wanted to hear.

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