35 Burst results for "Jim Zarroli"

Investors Can Now Bet On The Future Of Water Prices In California

NPR's Business Story of the Day

02:59 min | 1 year ago

Investors Can Now Bet On The Future Of Water Prices In California

"This week in california. Water became a commodity. That means it can be traded now. Just like oil or gold. It's a testament to how important water is in a state that's suffering from droughts and wildfires. Here's npr's jim zarroli in california. Water is a source of great power and wealth a theme immortalized in the classic movie. Chinatown going to be a lot of irate citizens when they find out that they're paying for water that they're not gonna get all care she was to get you. Bring the water. La or ring eight water each year california struggles with months of dry weather followed by a few weeks of torrential rain and melting snow from the mountains. Patrick wolf overseas the nasdaq velez water. Index which tracks the price of water in the state there are periods of hydrological dry conditions for extended periods of time punctuated by periods of extremely wet weather when water is very plentiful but there can be years when no rain comes at all says ellen. Hanoch of the public policy institute of california. The next drought is always just around the corner. The impact of droughts were driven home recently when california suffered through its worst wildfire season in modern history. Four point three million acres burned in august and september of this year. It went on for weeks when the smoke cleared the. Cme group of financial exchange came up with a way to bet on the price of california water. Starting this week investors can buy and the right to purchase water at a particular price. The water that helps almonds and lettuce grow in the state central valley will be purchased like silver or or any other commodity. Elon hanoch says this may end up helping. Farmers protect themselves against sudden price. Changes what this could allow you to do is to lock in a price that covers your financial risk for a dry year when the water might become more expensive but most of people who end up buying and selling water contracts won't be farmers they'll be investors in new york and london and all over the world trading on the exchange. They'll never actually see the water they're buying their has betting on the future price and those bets can be very lucrative boss off send climate justice project director for the institute for policy studies says the whole notion of profiting off water. Sales is atrocious. What we need to be doing in ted is changing agricultural practices so they are not so what are intensive especially in up more arid regions and erin brockovich. Consumer activists played by julia roberts in the movie lamented in a tweet that her father had warned of the day when water would become a monetize commodity for california water. At least that's very much the case

California Jim Zarroli Hanoch Patrick Wolf Public Policy Institute Of Cal NPR Elon Hanoch Cme Group Ellen LA Central Valley Institute For Policy Studies London New York Erin Brockovich TED Julia Roberts
Trump tax returns: How rich Americans avoid taxes

NPR's Business Story of the Day

03:32 min | 1 year ago

Trump tax returns: How rich Americans avoid taxes

"A New York Times investigation into president trump's tax returns found that in some years he paid little or even no taxes. Now, he is not the only rich person to not do. So the tax code favors people who live off of investments including a lot of people in finance who run hedge funds or manage money. Here's NPR's Jim Zarroli. Morris. Pearl is part of the one percent. He's a former managing director at the giant investment firm blackrock. He has an apartment on New York's Park Avenue, and he lives off his stock investments. These days Pearl says, the taxes he pays are lower than ever I. For instance, have not worked since twenty fourteen. All of my money comes from investments I'm doing fairly well, but my tax rate is in the teens. That's right. He pays a lower tax rate than the average teacher or letter carrier Pearl is a millionaire even chairs an organization called. Patriotic Millionaires, and he thinks the way the tax system works is disgraceful. Our system allows rich people particularly real estate developers and investors to pay far lower taxes and people at work for a living US tax law was designed to be progressive meaning the more you earn the more you pay, but it doesn't always work out that way when president trump was running for office, he promised to overhaul the tax code. It is riddled with loopholes that let some special interests including myself in all fairness is gonNA. Cost me a fortune this thing believing. Belief. This is not good for me. The tax bill trump ultimately signed into law in two thousand seventeen got rid of some deductions and loopholes, but it retained one provision that mostly benefits rich people as Earth tax loopholes go one of the more known textiles because it is. So ridiculous Charles con is with the strong economy for all coalition, a group of community and labor groups. He says people who live off investments such as stocks and real estate are taxed differently than people who earn salaries, but instead of paying the income tax rate, which could be as high at the thirty seven percent. They pay capital gains and the capital gains tax rate tops off at twenty percent. Trump's tax bill also retained another very controversial provision. It allows money managers and hedge. Fund titans to take their salaries as investment income meaning they pay that lower rate. Trump insists that his tax cuts helped fuel an economic boom at least until the corona virus hit here he is at his State of the Union address. Soon, after signing the bill, we enacted the biggest tax cuts and reforms in American history. But Economists William Spriggs of Howard University says the bill kept some rules in place that benefit the rich especially people such as president trump who made their money in real estate and sprigs says that by cutting corporate taxes, the bill helped fuel a long rally in stock prices and that's benefited the rich even more people owning stocks where the big beneficiaries because their income was going up whereas wages stagnated even through the recession, the stock market has continued to do well, people who own stocks have seen their portfolios grow and they continue to pay much lower taxes on the prophets they bring in.

Donald Trump Pearl Managing Director President Trump New York Times New York William Spriggs Blackrock NPR Jim Zarroli Titans United States Union Charles Con
Coronavirus Pandemic Hits New York City's Economy Hard

NPR's Business Story of the Day

04:08 min | 2 years ago

Coronavirus Pandemic Hits New York City's Economy Hard

"Dot com slash NPR to learn more. Let's talk about the change happening in New York New York City was hit early. It was hit hard by the pandemic, but the situation is today so much better. The number of virus cases has dropped significantly, but as NPR's Jim Zarroli reports the economy there is still struggling. I'm standing in Hudson yards, which is a huge complex of apartment buildings and office towers and high end retail stores on Manhattan's West Side. There is a lot of excitement when this place opened almost a year and a half ago but today at least by new. York standards there aren't a lot of people here just a few tourists some dog walkers a security guard or crossing this giant windswept plaza. The buzz that you typically feel when you're walking through midtown walking through any parts of Manhattan it's just not there Dustin Jones lives nearby. He's with nyu's Shack Institute of real estate anyone that's been in New York City and spent any time here knows this doesn't feel normal New York is the nation's most densely populated big city and it was hit early and hard by the pandemic Catherine Wild of the partnership. For New York City a business group says half a million people fled many of them were well paid professionals in finance advertising and technology who could work remotely. She says, hotels stores theaters and restaurants had to close. We've got two hundred and thirty thousand small businesses that basically for the most part have been out of business since the middle of March even those that stayed open are struggling two and A. Half years ago. Kasan Davol Mar opened the Likud cafe in Brooklyn she wanted to have a kind of neighborhood hang out serving healthy. Haitian food. It's been a rough year in February I thought we were doing well, and then by March I was like we're doing worse than we've ever done by April we were closed. The cafe is open again and serving mainly takeout food but business has dropped off again lately. The, loss of so many businesses has meant hundreds of thousands of jobs have disappeared unemployment in the city hit nearly twenty percent in July. I ran into Howard begin sitting in a park in Manhattan. He's jazz musician and with all the live music venues shut down, he's living off his savings occasionally if I can find. Production type work. I. Can I can do from home I do that. But my work pretty much ground to a halt on March sixteen having Merck's since then. With so many people not working egan, it's causing real budget problems I'm on the subway the one train I take it all the time and it's often packed at this time of day today there are only about six people in this car all of them sitting very far apart from each other people have been scared to ride the subway ridership is. A quarter of what it normally is and fare revenue is way down I. Mean what you have is a public health crisis that spurred economic crisis that it's Verte fiscal cruzes. Andrew Ryan of the Citizens Budget Commission and Advocacy Group says sales and income tax revenue also down and the city faces a nine billion dollar budget deficit the next year and a half. There is some reason for optimism virus cases have dropped sharply. Museums are reopening. Restaurants are serving customers at outside tables. But tourists have mostly stayed away and Catherine wild of the Partnership for New York City says only about eight percent of office workers are back at their desks. This is a comprehensive, all encompassing problem like we've never had before and wild worries about what will happen when people do return new. York. City where people live

New York City Manhattan Catherine Wild York NPR Howard Jim Zarroli Dustin Jones Citizens Budget Commission Brooklyn Merck West Side Hudson NYU Egan Shack Institute Of Real Andrew Ryan
Employers slowed hiring in July as coronavirus spread

NPR News Now

00:53 sec | 2 years ago

Employers slowed hiring in July as coronavirus spread

"The Labor Department says US employers added one point eight, million jobs in July but NPR's Jim Zarroli reports the pace of economic recovery amid the coronavirus pandemic is slowing the nation's unemployment rate fell to ten point two percent last month down from eleven point one percent the month before employers continued to add jobs especially in government and leisure and hospitality the unemployment rate top fifteen percent in marches businesses shutdown on mass. The job market has recovered some ground since then but more than a million people are still being laid off each week many businesses in some states have been forced to close down again as cases of the virus of. Surged and jobless rate remains very high by historic standards Jim. Zarroli NPR news

Jim Zarroli NPR Labor Department
"jim zarroli" Discussed on KQED Radio

KQED Radio

01:43 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Calls for police accountability and the surge in the corona virus that's all packed in to the takeaway coming up today after one o'clock it will be mostly cloudy becoming mostly sunny later on today highs mid sixties to low seventies around the bay and we should have similar temperatures throughout the weekend support for NPR comes from DuckDuckGo privacy company committed to raising the standard of trust online used by millions they work to help people search privately and avoid trackers DuckDuckGo privacy simplified the sun Sims foundation since nineteen eighty five supporting advances in science education in the arts towards a fairer and more just society more information is available at sy Syms foundation dot org and by the listeners of KQED good morning the time now is five thirty four it's morning edition from NPR news I'm no well king and I'm Rachel Martin this is been a kind of week the people who own stocks have come to dread prices plunged across the board on Thursday the Dow Jones industrial average fell by eighteen hundred points that is almost seven percent of its value NPR's Jim zarroli is watching the markets and joins us now hi Jim joining not a good day Jim not now the gravel hi what happened yeah I mean if your stock investor it was just terrible event is one of the worst drops in the Dow's history seven percent decline is not something you see in normal times I mean it kind of takes us back to mid March when the lockdowns were starting in the market was falling by huge amounts every day I think a lot of investors.

NPR sun Sims foundation Rachel Martin Jim zarroli Dow DuckDuckGo sy Syms foundation KQED
"jim zarroli" Discussed on KQED Radio

KQED Radio

01:31 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Safer they don't feel safe they're not going to go to a restaurant or not going to go out they're not going to go to retail Ohio officials are drawing up plans to reopen their economy but the wind says these plans won't amount to much unless people are convinced it's safe to go out again Jim zarroli NPR news this is NPR news and this is KQED public radio we have some nice light rain I know I enjoyed it and now we're it's all about wind today is going to get sunny and dry by Memorial Day temperatures in what should be in the nineties but let's see what's happening road wise with Joe McConnell heading up to the Altima password is windy right yeah there's a wind advisory for the Altamont pass is the only place that is said to be windy that's the only really weather related problem we have out there is a little slow on five eighty west bound to run grant line road just a little under the limit it's not a huge champions and because we haven't had a huge chance for a long time but has been getting slower lately some conference were to watch for the peninsula south one one Ralston down to Holly street they've got the right wing close till about six o'clock this morning also working around the airport from San Bruno Avenue at SFO with a lane blocked till six Joe McConnell for KQED thank you Joe the national weather service's winds up to thirty miles per hour will be coming our way this afternoon into this evening hi Marco Werman at the world we're always looking beyond our borders to get the global take on the news that's especially.

Joe McConnell Ralston KQED Marco Werman Ohio Jim zarroli NPR San
"jim zarroli" Discussed on KQED Radio

KQED Radio

04:28 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Recent weeks which means the money is tight in a lot of American households NPR's Jim zarroli has been talking to businesses across the country about re opening and he shared what he learned with Steve Inskeep of morning edition how different is the world that a business owner is going to re enter now yeah nothing like this has ever happened before I mean this is this is just a huge number of businesses close you know people have stopped driving they stop flying thirty million people have joined the unemployment lines just since mid March that six weeks of the economy shrank four point eight percent during the first three months of the year but it is likely to shrink a lot more over the next few months and the worst part is you know nobody has any real idea about when things are gonna go back to normal or or you know even if they will I guess because of the social distancing roles that will still be in effect there must be a lot of business owners who have to ask is it even worth my time to open up an ad to this risk but I'm not gonna make any money yeah and that and that's really one of the things I set out to talk to businesses about I mean I've been talking to different companies all over the country and about what kind of planning they're doing you know if if everyone could go back tomorrow to work with with these businesses be ready how long would it take them to get back on their feet and the companies that I have talked to said right now they pretty much could get up and running again if they needed to but there is still so much uncertainty about the rest of the year you really can't overstate that the longer everything stays shut down the harder it's going to be to recover in a lot of companies are are already struggling to survive what are some of the companies you spoke with well one of the companies I called was Gilson trucking there in Stockton California and this is normally a very busy time for the company it's harvest season it's when the comments that they their trucks and strawberries and lettuce from the Central Valley to restaurants in the northeast and Midwest but the owner Haas around seeing says business is pretty much dead right now the produce is available but because of these restaurant chains has been closed down they have no buyers so he's fleet of a hundred and fifty trucks sitting idle and he spends his mornings talking to customers trying to see what work is available his business is open but just barely if I do not get to work back to normal in like next month or so well we'll have to shut it down Singh says he has plenty of drivers sitting home willing even eager to work but he wonders when will the restaurants reopened and with so many people losing their jobs will anyone have any money to spend it's a question that's being asked all over the country right now in Washington DC the offices of the technology consulting firm enlightened sit mostly empty almost all of the two hundred and fifty employees are working remotely CEO Antoine Ford holds meetings on zoom we need to see other projects going what are we hearing from our customers do we see in the future layoffs what's the impact of called it on them and the news right now is not good enlightened had to furlough thirty five people though it hired them back thanks to a small business loan but the firm runs websites and call centers for agencies like the Port Authority of New York in New Jersey and government contracts often dry up when times are bad politicians right now may be talking about re opening the economy but many companies say that's not possible as long as the future so uncertain this thing heads and everyone is like well how bad this is going to gas fired Winthrop is CEO of American giant which makes hoodies and flannel shirts at its factories in the Carolinas when the virus to Winthrop wrote to all of the company's suppliers he's known a lot of them a long time and he told them he was putting a stop on all the purchases for the time being things were too scary it almost makes me you know get emotional about it but but to a one they were all still said listen we're here and we get it and we're gonna work with you on this and let us know what you need what he needed was to preserve cash but some of his suppliers are having trouble too if one of them goes under it could blow a hole in the supply chain for now American Chinese making face masks for the government but if it's going to survive long term it needs to get back to the business of making close no later than July Winthrop thinks that's possible what worries me.

NPR Jim zarroli
Businesses Will Have To Deal With A Different World When They Reopen

NPR's Business Story of the Day

04:57 min | 2 years ago

Businesses Will Have To Deal With A Different World When They Reopen

"Now Florida's just one of a number of states lifting restrictions in fact governors allowed stay at home orders to expire last night in numerous states including Alabama Main Idaho Tennessee and Texas in those states. Many businesses can reopen although also as in Florida with rules to enforce social distancing for the most part. Npr's Jim Zarroli has been talking with people who manage businesses across this country and is on the line. Jim Good Morning Good Morning. How different is the world that a business owner is going to re enter now now? Nothing like this has ever happened before. I mean this this is just A. We've seen a huge number of businesses close in people have stopped driving. They've stopped flying. Thirty million people have joined the unemployment lines just since mid March that six weeks of the economy shrank four point eight percent during the first three months of the year but it is likely to shrink a lot more over the next few months and the worst part is nobody has any real idea about when things are going to go back to normal or or even if they will. I guess because of the social distancing rules that will still be in effect. There must be a lot of business owners like the Florida restaurateur ask. Is it even worth my time to open up? Add to this risk when I'm not gonNA make any money. Yeah and that. And that's really one of the things I set out to talk to businesses about. I mean I've been talking to different companies all over the country and about what kind of planning they're doing If everyone could go back tomorrow to work with these businesses be ready. How long would take to get back on their feet and the companies that I have talked to said right now pretty much could get up and running again if they needed to but there is still so much uncertainty about the rest of the year. You really can't overstate the longer. Everything stays shut down the harder. It's going to be to recover and a lot of companies are are already struggling to survive. What are some of the companies who spoke with one of the companies? I called was Gilson. Trucking there in Stockton California and this is normally a very busy time for the company it's harvest season. It's when they their trucks send strawberries and lettuce from the Central Valley to restaurants in the northeast and Mid West but the owner Hossa Rome sing says businesses. Pretty much dead right now. The produce is available but because of these restaurant chains has been closed down there are no buyers so his fleet of one hundred and fifty trucks sits idle and he spends his mornings talking to customers trying to see what work is available. His business is open but just barely if I do not get work back to normal in like next month or so. We'll have to shut it down sing. Says he has plenty of drivers sitting home willing even eager to work but he wonders. When will the restaurants reopen and with so many people losing their jobs? Will anyone have any money to spend? It's a question that's being asked all over the country right now in Washington. Dc The offices of the technology consulting firm enlighten sit mostly empty. Almost all of the two hundred and fifty employees are working remotely. Ceo Antoine Ford holds meetings on zoom. We meet the other projects going what are we hearing from my customer? Do we see any future layoffs. What's the impact of covert on them and the news? Right now is not good. Enlightened had to furlough thirty five people though it hired them back thanks to a small business loan but the firm runs websites and call centers for agencies like the Port Authority of New York. New Jersey and government contracts often dry up when times are bad politicians. Right now may be talking about reopening the economy but many say that's not possible as long as the future so uncertain this thing hits and everyone is like well like How bad is this going to get fired? Winthrop is CEO of American giant which makes hoodies and flannel shirts at its factories in the Carolinas when the virus hit winthrop wrote to all of the company's suppliers. He's known a lot of them a long time and he told them he was putting a stop on all the purchases for the time. Being things were too scary. It almost makes me. You know get emotional about it but but to one. They were all they all said. Listen we're here and we get it and we're GONNA work with you on this and let us know what you need. What he needed was to preserve cash but some of his suppliers are having trouble to if one of them goes under. It could blow a hole in his supply chain for now. American giant is making face masks for the government. But if it's GONNA survive long term it needs to get back to the business of making clothes no later than July winter. Thinks that's possible? What worries me? Obviously is that people haven't really fully yet digested how how bad this is going to be for the economy and you know if wallets to really close up. It's just a different message to different scenario

Florida Business Owner Winthrop CEO Jim Good Jim Zarroli NPR Mid West Washington Gilson Texas New Jersey Stockton California New York Idaho Central Valley Alabama Hossa Rome
Jobless claims surge to record 3.4 million

Morning Edition

00:38 sec | 2 years ago

Jobless claims surge to record 3.4 million

"The labor department will release its report this morning on the weekly claims for jobless benefits NPR's Jim zarroli says estimates are that the claims will set a record yes the Mets for Makana miss that we've seen so far are just enormous I mean the economic policy institute says as many as three point four million people filed for claims last week just to confirm for comparison sake I mean even during the worst weeks of the Great Recession the number never topped six hundred sixty five thousand and in California alone last week we saw almost that

Labor Department NPR Jim Zarroli Mets Economic Policy Institute California
Bailouts might not be popular, but there is no Plan B for a pandemic

All Things Considered

03:34 min | 2 years ago

Bailouts might not be popular, but there is no Plan B for a pandemic

"Stocks have come crashing down because of the corona virus the Dow is now thirty five percent lower than its record high last month it's no wonder companies all over the country are saying they need a bailout Congress is preparing to spend hundreds of billions of dollars to help them but not everyone thinks that's a good idea as NPR's Jim zarroli reports just in a matter of days the bottom fell out of the U. S. airline industry here's Nicholas Calio of the trade group airlines for America on CNBC today I've never seen anything like it no one has the speed and degradation of the business has been just mind boggling and it's not just airlines under siege cruise ships restaurants even native American casinos have seen their revenue fall off a cliff and they're lining up for help president trump says these companies aren't to blame for what's happened and he's made clear he's ready to assist them we're also looking to help companies such as the airline industry within the airline industry and we'll be doing that for Republicans who bitterly opposed the Obama administration's auto bailout the idea of extending federal largesse to companies hurt by this epidemic is hard to swallow here's Nebraska senator Ben Sasse this week if you're an industry with a good lobbying team you're told the line up to the door of the treasury department and get the line because bailout after bailout is probably in the offing and former U. N. ambassador Nikki Haley dislikes the idea of an airline bailouts so much that she resigned from Boeing's board yesterday opposition notwithstanding Congress is plowing ahead with the rescue bill Republicans in the Senate have proposed a one hundred and fifty billion dollar plan for distressed companies there would be a separate pot of money for airlines and air cargo companies says Senate Majority Leader Mitch McConnell we're not talking about a taxpayer funded solutions for companies that made mistakes we're talking about loans for their part Democrats want conditions attached to any rescue money like promises not to cut jobs and they want more of it to go to fund unemployment insurance for the hundreds of thousands of people getting laid off however the money is distributed the rescue poses big problems says Jeff Myron director of economic studies at the Cato Institute this is just gonna end up being a big transfer to those industries that are politically well connected and can paint a case that makes it look as though they were especially hard hit by the by the epidemic Myron says once Congress starts handing out money where does it stop why not rescue universities or even sports teams they've been hurt by the virus to Dennis Kelleher is president of the Wall Street reform group better markets he says a lot of companies have been badly managed in recent years and may not deserve to be saved they borrowed too heavily for example and often the money went not to their employees but to fund share buybacks that just made their stockholders wealthier taxpayers should only have to provide aid to companies that are vital to the United States and only companies that otherwise act in a responsible manner Kelleher points out that the big Wall Street bailout of two thousand eight proved to be especially on popular with the public with lasting political a fax and he says the onus is on Congress to do a better job this

DOW
"jim zarroli" Discussed on KQED Radio

KQED Radio

04:03 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"That's NPR's Jim zarroli thank you Jim you're welcome you're listening to All Things Considered from NPR news Netflix started as a DVD library for subscribers before it started licensing films and shows for streaming but now TV and movie studios want to keep their creative properties and sell access on their own streaming platforms that's forced Netflix to change its business model and to push deep into the world of junk bonds Stacey Vanek Smith and Cardiff Garcia of the of planet money's daily economic podcast the indicator explain why in two thousand nineteen alone Netflix lost friends the sixth sense cocoa Star Wars pulp fiction the reason competition that is the answer the movie studios and networks on the shows and movies are taking them back because they are launching their own streaming services Disney CBS HBO ESPN NBC Warner Richard Cooper is the research director at on here analysis which specializes in media research he says Netflix realized if it was going to survive it was going to have to make a big play on changing really who they all from a stream of other people's content to a studio in their own right Netflix has been doing just that they've made big budget lavish shows Oscar bait type stuff like the Irishman and marriage story tells me the crown the series when the CS but here's the thing about all this content it costs a lot of money to make I mean a lot a lot we calculated that I spent just save it as a ten billion and when a company wants to borrow money fast one way they can do it is by issuing bonds a bond is like a little loans so investors will buy a bond and just like a loan after a certain period of time the investor gets that money back plus some interest but Netflix is taking on so much debt compared to what it's earning its bonds are considered risky that is why they're called junk bonds generally those bonds have to pay out a little more than other bonds because of that risk if the kind of sweeten the pot to entice people not the Netflix has any issues with that Richard Cooper says that in the last few months of twenty nineteen in Netflix issued more than two billion dollars worth of bonds and investors went crazy for them snap them right up a lot of investors thought it was worth the risk yes stranger things junk bonds the crown junk bonds Stacey's favorite movie the Irishman junk bonds it is like a house of cards that was a monster still Richard says Netflix is showing it can hold its own in the content creation arena they made a bunch of big hits in all these different genres and he says they have no choice Netflix is in a death or death situation so they're going with that really going with that right now says Richard they're basically buying everything that moves books video games even podcast and this is a formula that has been working for Netflix they had great success with the show called the witcher the witcher was a series of best selling books that Netflix adapted last year into a TV series one of the reasons that I bought into the witcher use of the books themselves have quite a substantial following what you're effectively guaranteeing the people will subscribe to the Netflix just to watch and the witcher and it worked the witcher was reportedly the most popular show on any platform for months like anywhere on earth it was that popular but for all of the billions it spending on making shows only about ten percent of Netflix's content is made by Netflix the remaining ninety percent is owned by other studios and networks so it could still get yanked away you know what won't get yanked away the witcher the witcher Netflix.

NPR Jim zarroli
"jim zarroli" Discussed on KCRW

KCRW

04:09 min | 2 years ago

"jim zarroli" Discussed on KCRW

"What it will do to their economies that's NPR's Jim zarroli thank you Jim you're welcome you're listening to All Things Considered from NPR news Netflix started as a DVD library for subscribers before it started licensing films and shows for streaming but now TV and movie studios want to keep their creative properties and sell access on their own streaming platforms that's forced Netflix to change its business model and to push deep into the world of junk bonds Stacey Vanek Smith and Cardiff Garcia of the of planet money's daily economic podcast the indicator explain why in two thousand nineteen alone Netflix lost friends the sixth sense cocoa Star Wars pulp fiction the reason competition that is the answer the movie studios and networks on the shows and movies are taking them back because they are launching their own streaming services Disney CBS HBO ESPN NBC Warner Richard Cooper is the research director at on here analysis which specializes in media research he says Netflix realized if it was going to survive it was going to have to make a big changing really who they all from a stream of other people's content to a studio in their own right Netflix has been doing just that they've made big budget lavish shows Oscar bait type stuff like the Irishman and marriage story tells me the crown the series when the C. S. but here's the thing about all this content it costs a lot of money to make I mean a lot a lot we calculated that I spent just a the S. R. ten billion won the company wants to borrow money fast one way they can do it is by issuing bonds a bond is like a little loans so investor will buy a bond and just like a loan after a certain period of time the investor gets that money back plus some interest but Netflix is taking on so much debt compared to what it's earning its bonds are considered risky that is why they're called junk bonds generally those bonds have to pay out a little more than other bonds because of that risk if the kind of sweeten the pot to entice people not the Netflix has any issues with that Richard Cooper says that in the last few months of twenty nineteen Netflix issued more than two billion dollars worth of bonds and investors went crazy for them snap them right up a lot of investors thought it was worth the risk yes stranger things junk bonds the crown junk bonds Stacey's favorite movie the Irishman junk bonds it is like a house of cards that was junk bonds to still Richard says Netflix is showing it can hold its own in the content creation arena they made a bunch of big hits in all these different genres and he says they have no choice Netflix is in a death or death situation so they're going with that really going with that right now says Richard they're basically buying everything that moves books video games even podcast and this is a formula that has been working for Netflix they had great success with the show called the witcher the witcher was a series of best selling books that Netflix adapted last year into a TV series one of the reasons that I bought into the witcher use of the books themselves have quite a substantial following what you're effectively guaranteeing the people will subscribe to the Netflix just to watch the witcher and it worked the witcher was reportedly the most popular show on any platform for months like anywhere on earth it was that popular but for all of the billions it spending on making shows only about ten percent of Netflix's content is made by Netflix the remaining ninety percent is owned by other studios and networks so it could still get yanked away you know what won't get yanked away the witcher the witcher Netflix has announced it's making a witcher season two coming soon to a junk bond market near you.

NPR Jim zarroli
"jim zarroli" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:46 min | 2 years ago

"jim zarroli" Discussed on WNYC 93.9 FM

"Mike Bloomberg received a stumbling badly in the first debate also attacked Sanders saying that Russia wants Sanders to win the democratic primary Mar Eliason NPR news Washington concerns about the spreading corona virus bash to the U. S. stock market on Tuesday NPR's Jim zarroli reports that the markets are down sharply over the past several days the Dow Jones industrial average was down more than eight hundred points following Monday's decline of more than a thousand points the Dow has fallen by more than seven percent over the last four days there were big losses in energy and bank stocks shares of bank of America and Citigroup are now down more than ten percent for the year investors took their money out of stocks and put it in government debt and the interest rate on the ten year treasury bond fell to an all time record low NPR's Jim zarroli reporting currently Dow futures suggest the blue chips will open very slightly higher at the start of trade in a couple of hours generic drugmaker Mallinckrodt pharmaceuticals has agreed to pay one point six billion dollars to settle a wave of lawsuits stemming from the opioid epidemic north country public radio's Brian man prepared this report during the deadliest years of the opioid epidemic when tens of thousands of Americans were dying of prescription overdoses Mallinckrodt produced many of those medications under generic label now CEO mark Trudeau says this deal and the barrage of lawsuits while shelling out hundreds of millions of dollars a year to help fund opioid recovery it calls for creating a trust us at the expense of providing support to communities impacted by opioid abuse under the deal the Mallinckrodt.

Mallinckrodt pharmaceuticals CEO Dow bank of America Jim zarroli opioid abuse mark Trudeau Mallinckrodt Brian man Mike Bloomberg NPR Citigroup Washington Russia Sanders
Stocks open slightly higher after worst drop in 2 years

Morning Edition

03:23 min | 2 years ago

Stocks open slightly higher after worst drop in 2 years

"Stocks have opened lower in Europe this morning after a big route in U. S. stock markets also fell sharply in Japan the Dow Jones industrial average fell by more than a thousand points yesterday its worst performance in more than two years the markets tanked amid news that corona virus cases have been reported in Italy and Iran also in South Korea we're joined now by NPR's Jim zarroli hi Jim good morning David so this coronaviruses and spreading for weeks now I mean we we talk about it you know just about every day why are the markets suddenly reacting like this I think the reports about the cases in South Korea and Italy really scared everybody scared investors remember the the epidemic started relatively slowly in China and then it just mushroomed so there are fears that we might be seeing the same kind of progression starting in other places for instance Italy is part of a big continent where everybody moves around freely all the time so an outbreak there could really spread quickly all over Europe which is the second largest US trading partner and that that would be an economic disaster too as well as a health disaster well let's talk about the the potential economic effects here what is it specifically that that might be spooking investors when it comes to health crisis like this you know we live in a global economy and SO what happens in one place affects people in other places China of course is a huge manufacturing country it has all the supply chains that are links to other economies all over the world now we have enormous quarantines taking place there no factories are shut down people can't go to work so if you're on a manufacturing or retailer in the US or other countries you depends on China Chinese or south Korean suppliers suddenly you don't know how you're going to get the parts you need to stay in business apple for instance has already said it expects to see a shortage of of parts for the iPhone because its factories in China are shut down so this this just has the potential to sauce on the side line a lot of other come companies when you mention apple and we've been reporting on on some of the impact on on the economy so far but what what what else is standing out to you well in a week we're hearing anecdotal evidence of this company a lot of companies say they're worried about inventories getting low or act we're starting to see some actual numbers to airlines for instance are among the companies that are getting hurt really badly I yesterday United Airlines said it had seen a seventy five percent drop in demand for flights to Asia so we can we can we can expect this will get worse before it gets better over the weekend Chinese president xi jin ping said the epidemic will have he called it a quote relatively big impact on the economy and society although he added it will be short term and controllable so should you worry if you have your money like in retirement funder you know that involve stocks yeah I mean that's that's always the question it's really hard to predict where this epidemic is going how big it's going to be so a lot of it will depend on that on the other hand we see the stock market deal with a lot of very troublesome developments lately like brexit in the trade war on and it always seems to come back eventually so

Europe U. S
Coronavirus Spreads To Wall Street; Dow Drops 1,032 Points

NPR's Business Story of the Day

03:29 min | 2 years ago

Coronavirus Spreads To Wall Street; Dow Drops 1,032 Points

"Stocks have opened lower in Europe. This morning after a big route in US stock markets also fell sharply in Japan. The Dow Jones industrial average fell by more than a thousand points yesterday. Its worst performance in more than two years. The market's tanked amid news that corrine virus cases have been reported in Italy in Iran. Also in South Korea. We're joined now by. Npr's Jim Zarroli. Hi Jim Good Morning David. So this corona virus spreading for weeks. Now I mean we talk about it you know just about every day. Why are the market suddenly reacting? Like this I think. The reports about the cases in South Korea in Italy really scared everybody scared. Investors remember the the epidemic started relatively slowly in China and then it just mushroomed so there are fears that we might be seeing the same kind of progression starting in other For instance Italy is part of a continent where everybody moves around freely all the time so an outbreak there could really spread quickly all over Europe. Which is the second largest. Us trading partner in that that would be economic disaster to as well as a health disaster. Well let's talk about the the potential economic effects here. What is it specifically that? That might be spooking investors when it comes to a health crisis like this you know. We leave them a global economy. So what happens in one place affects people in other places? China of course is a huge manufacturing country. It has all these supply chains that are linked to other economies all over the world now. We have enormous quarantines taking place there Factories are shut down. People can't go to work so if you're a manufacturing or retailer in the US or other countries you depends on China Chinese or South Korean suppliers. Suddenly you don't know how you're going to get the parts. You need to stay in business. Apple for instance has already said it expects to see a shortage of parts for the IPHONE because its factories in China or shutdown. So this this just has the potential to kinda sideline a lot of other companies. Well I mean you mentioned apple and we've been reporting on some of the impact on on the economy so far but what what what else has standing to you. Well In a we were hearing anecdotal evidence. This company a lot of companies. Say they're worried about inventory getting low. We're we're starting to see some actual numbers to airlines for instance are among the companies. That are getting hurt. Really badly Yesterday United Airlines said it had seen seventy five percent drop in demand for flights to Asia. so we can. We can expect. This will get worse before it gets better Over the weekend Chinese President Xi Jinping said the epidemic will have he called it a quote relatively big impact on the economy and society. Although he added it will be Short. Term in controllable. So should you worry if you have your retirement fund or involve stocks? Yeah I mean. That's that's always the question. It's really hard to predict where. This epidemic is going. How big it's going to be so a lot of it will depend on that on the other hand we've seen the stock market deal with a lot of very troublesome developments lately like Brexit in the trade war and it always seems to come back eventually. So it's resilient so I think Jim Jim thanks so much

Italy China United States South Korea Europe Jim Jim Jim Good Xi Jinping Jim Zarroli Japan Apple China Chinese NPR Iran United Airlines
"jim zarroli" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

02:45 min | 2 years ago

"jim zarroli" Discussed on WNYC 93.9 FM

"Stanley says it expects it to be approved by regulators Jim zarroli NPR news New York stocks finished lower on Wall Street is tech and healthcare companies let the losses as new cases of the corona virus in China and other countries intensified fears over the impact on the global economy this is NPR and you're listening to W. NYC in New York I'm Jamie Floyd on the debate stage last night in New York City mayor Mike Bloomberg said his controversial policing policies got out of control if I go back and look at my time in office the one thing that I'm really worried about embarrassed about was how it turned out with stop and frisk but the other Democrats on the stage in Las Vegas attack Bloomberg's records senator Elizabeth Warren said even in his apology the former mayor got it wrong when the mayor says that he apologized listen very closely to the apology the language he used is about stop and frisk it's about how it turned out no this isn't about how it turned out this is about what it was designed to do to begin with as you've just been hearing Bloomberg has been steadily rising in the polls despite not having it competed in a democratic primary or caucus in New Jersey governor Phil Murphy has unveiled a broad set of ethics reform proposals he says will help change the culture in Trenton W. N. Y. C.'s Karen he reports Murphy says he wants to restore the public's trust in government and that means understanding what happens behind closed doors in Trenton these proposals will shine light into the dark corners or a politics through a mix of executive orders in legislation Murphy wants to ban lawmakers from accepting gifts related to their public roles and subject them to open public records rules his proposals also call for public disclosure of which interest groups are lobbying for or against certain laws and they would make public officials wait two years before becoming lobbyists and student activists at Syracuse University are heading into their fourth day of a sedan they're protesting the school's handling of a series of racist incidents that date back to last November the group hash tag not us again S. U. is demanding the identities of alleged perpetrators of any bias related incidents be made public it's also calling for several school administrators to resign university officials say they've been meeting with protesters in the hopes of reaching a resolution students began occupying an administration building on Monday night the university close the building and suspended at least thirty students who are made after hours it has since re open the building.

Trenton W. N. Y. C. executive Karen New Jersey senator Las Vegas Jim zarroli S. U. Syracuse University Trenton Stanley Phil Murphy Elizabeth Warren Mike Bloomberg Jamie Floyd New York W. NYC NPR China
"jim zarroli" Discussed on KQED Radio

KQED Radio

01:31 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"The trump administration everybody wants bowing to succeed for the sake of the country and I understand that and I have it on my shoulders but I'm not gonna let weigh me down the long delays in getting the seven thirty seven MAX back in the air have severely damaged Boeing's reputation and cost a lot of money but ultimately it's a company that's too big to fail Jim zarroli NPR news this is NPR news NPR Steve Inskeep talks to that Thanh sacks of the center for Middle East policy at the Brookings Institution about president trump's Mideast peace proposal which will be released today you'll hear that interview coming up in just a few moments here on KQED but for right now let's see what's happening with traffic here said Anthony good morning and good morning to you Steve just one crash it's in Sunnyvale the clean up continues it's been out there for some time but the right lane remains close on north down eighty five at Fremont Avenue also the Fremont Avenue on ramp shut down it was a crash off the shoulder but again the right lane is closed to help with that clean at also releases road work once again conquered we do at the ramp closures he's down for the ramp to northbound six eighty close the west bound for connecting a south bound six eighty shut down also the north six eighty connector to westbound for closing the sump down six eighty route the east bound for.

Boeing Steve Inskeep Thanh sacks Brookings Institution trump KQED Sunnyvale Jim zarroli NPR Middle East president Anthony
Stocks steady, oil cools as U.S.-Iran tensions ease

All Things Considered

00:42 sec | 2 years ago

Stocks steady, oil cools as U.S.-Iran tensions ease

"Investors in the U. S. appeared to brush off fears about escalating tensions in the Middle East and peers Jim zarroli reports that stocks finished the day higher and oil prices ended lower after the U. S. killed a top Iranian general on Friday stocks lost ground and oil prices headed toward seventy dollars a barrel as the trading week got under way stocks continued to slide but by the end of the day the nervousness seemed to subside and investors were taking a wait and see attitude about where the conflict would lead the S. and P. five hundred index was back in positive territory and gold prices which often rise during tense times were falling again Jim zarroli NPR news

Middle East Jim Zarroli NPR
"jim zarroli" Discussed on KQED Radio

KQED Radio

02:51 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Of Wall Street in twenty eleven protesters began camping out in a small park in the financial district in lower Manhattan the occupy Wall Street movement shined a spotlight on the fact that many Americans work benefiting from the riches of the stock market eighty four percent of all stocks owned by Americans belong to the wealthiest ten percent only about half of Americans own stocks even through their retirement funds many people were angry about how taxpayer money was used to rescue big banks that had caused the financial crisis here is Vermont senator and current democratic presidential candidate Bernie Sanders the American people bailed out Wall Street now it is time for Wall Street the come to the aid of a middle class of this country Sanders and other legislators have called for a tax on Wall Street financial transactions but the market is often seem to overlook politics when president trump was elected some analysts predicted his erratic style would send the market crashing instead the exact opposite has happened stocks have soared in value coinciding with the longest economic expansion on record all the major stock indexes are closing this year at record highs David Kotok think stocks may actually have gone up too much I personally believe most of the healing is over and if anything we now have too much optimism and complacency and euphoria for now the euphoria is winning but all bull markets come to an end the only question is when Jim zarroli NPR news New York this is NPR news support for KQ we day at five forty three comes from Netflix presenting the animated feature I lost my body adventure young love in childhood memories inner twine as a severed hand crosses Paris in search of its owner awards eligible and by a generous gift from me on Schram and Maria Manetti Schramm founders of the Minetti Schramm museum of art at UC Davis who believe that all people deserve access to education and culture to enrich a lifetime of exploration and learning Nobel Prize winner Aung San Suu Kyi recently refused to recognize the real hinge as an ethnic group of Myanmar and denied allegations of genocide we hear from a ranger in exile we have been my disappointed and we we are not going to expect anything from heart I'm John Carlson in for tens univac.

Nobel Prize Minetti Schramm museum of art Maria Manetti Schramm NPR Jim zarroli president Vermont John Carlson Myanmar Aung San Suu Kyi UC Davis Schram Paris Netflix New York David Kotok trump Bernie Sanders
"jim zarroli" Discussed on KQED Radio

KQED Radio

03:42 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Of Wall Street in twenty eleven protesters began camping out in a small park in the financial district in lower Manhattan the occupy Wall Street movement shined a spotlight on the fact that many Americans work benefiting from the riches of the stock market eighty four percent of all stocks owned by Americans belong to the wealthiest ten percent only about half of Americans own stocks even through their retirement funds many people were angry about how taxpayer money was used to rescue big banks that had caused the financial crisis here is Vermont senator and current democratic presidential candidate Bernie Sanders the American people bailed out Wall Street now it is time for Wall Street the come to the aid of a middle class of this country Sanders and other legislators have called for a tax on Wall Street financial transactions but the market is often seem to overlook politics when president trump was elected some analysts predicted his erratic style would send the market crashing instead the exact opposite has happened stocks have soared in value coinciding with the longest economic expansion on record all the major stock indexes are closing this year at record highs David Kotok think stocks may actually have gone up too much I personally believe most of the healing is over and if anything we now have too much optimism and complacency and euphoria for now the euphoria is winning but all bull markets come to an end the only question is when Jim zarroli NPR news New York this is NPR news good morning from the BBC in London I'm three ten Lin wood BBC topline a few stories we're following right not a Chinese scientist who said he'd created the world's first genetically edited babies has been sentenced to three years in prison a Chinese court has found that in pursuit of profit Hujan qua forged documents to pass an ethics review has deliberately flouted the country's regulations on scientific research and medical management November last year the scientist made international headlines when he announced that he created the world's first to Jeanne edited babies twins he said what immune to HIV Stephen McDonell in Beijing in Australia dozens of fires are burning out of control as temperatures climb beyond one hundred and four Fahrenheit in every state residents in some parts of the city of Melbourne Victoria have been told it's not too late to leave Victoria's emergency management commissioner Andrew Chris what we've seen up until today is more than seventy new falls in the stars more than twenty thousand going for us at the moment we have got a long way to go live the Indian navy has banned the use of smart phones on board it's vessels that naval bases and don't charts Facebook's also been banned on board ships the restrictions were announced after seven sailors were arrested in the southern state of Andhra Pradesh they're suspected of leaking confidential information about ships and submarines to Pakistan in London I'm old retailing for the BBC fresh air is ending the decade with a holiday week series of staff pick interviews from the decade our next edition we'll hear from two beloved journalists whom we lost this decade Anthony Bourdain and David Carr.

"jim zarroli" Discussed on KCRW

KCRW

02:08 min | 2 years ago

"jim zarroli" Discussed on KCRW

"Of Wall Street in twenty eleven protesters began camping out in a small park in the financial district in lower Manhattan the occupy Wall Street movement shined a spotlight on the fact that many Americans work benefiting from the riches of the stock market eighty four percent of all stocks owned by Americans belong to the wealthiest ten percent only about half of Americans own stocks even through their retirement funds many people were angry about how taxpayer money was used to rescue big banks that had caused the financial crisis here is Vermont senator and current democratic presidential candidate Bernie Sanders the American people bailed out Wall Street now it is time for Wall Street to come to the aid of a middle class of this country Sanders and other legislators have called for a tax on Wall Street financial transactions but the market is often seem to overlook politics when president trump was elected some analysts predicted his erratic style would send the market crashing instead the exact opposite has happened stocks have soared in value coinciding with the longest economic expansion on record all the major stock indexes are closing this year at record highs David Kotok think stocks may actually have gone up too much I personally believe most of the healing is over and if anything we now have too much optimism and complacency and euphoria for now the euphoria is winning but all bull markets come to an end the only question is when Jim zarroli NPR news New York this is NPR news you're listening to morning edition on KCRW hi I'm on holiday twenty nineteen spent a great year to.

senator Bernie Sanders trump David Kotok New York KCRW Vermont president Jim zarroli NPR
"jim zarroli" Discussed on KQED Radio

KQED Radio

01:38 min | 2 years ago

"jim zarroli" Discussed on KQED Radio

"Used to spend all day on his feet cooking now he barely has the energy to make breakfast and he's not really train for office work he struggled with depression he doesn't sleep well I think you know for a man it was disabling in the fact that my career was my identity who I am and to lose that really affected me I no longer can identify as you know the guy with there was a wonder with food the job market may be booming and much of the country right now but a growing number of men in the prime of their lives to stop working and that can take a psychic told Jim zarroli NPR news this is NPR news seven nineteen now and KQED if you cross the Richmond San Rafael bridge John McConnell with a traffic report and some info that might be of interest it's either a stroller crash but it's a an obstruction blocking the right lane westbound at mid span and it's been there at least forty five minutes that's we noticed a huge slowdown siege we only had this doll reported about twenty minutes ago but it's been there for a long time it's backed up solid the marina bay parkway on the approach to this man the latest problem is a breakdown on six eighty south bound at mission Boulevard south mission a report of a breakdown left side Tracy crash on five eighty eastbound before two of five base of the Altamont knocking the direction but.

depression John McConnell Jim zarroli NPR KQED Richmond San Rafael bridge Tracy forty five minutes twenty minutes
Wall Street bounces back on renewed trade optimism

All Things Considered

00:47 sec | 2 years ago

Wall Street bounces back on renewed trade optimism

"Stocks finished higher on Wall Street today after three sessions of losses as NPR's Jim zarroli reports the rebound came amid new optimism about trade talks with China all of the major stock indexes finished the day higher among those shares performing well where technology and industrial stocks which have been hurt especially hard in the trade wars prices rose following comments by president trump that an interim deal could be reached with China the United States has threatened a new round of terrorists on Beijing on December fifteenth if no agreement is in place trade tensions have been whip sawing investors earlier this week from speculated that a deal with China may not take place until after the twenty twenty election which sent stocks sharply lower Jim zarroli NPR news New

NPR Jim Zarroli China Donald Trump United States Beijing President Trump
Wall Street bounces back on renewed trade optimism

All Things Considered

00:43 sec | 2 years ago

Wall Street bounces back on renewed trade optimism

"Stocks were higher today after three sessions of losses NPR Jim zarroli reports the rebound came amid new optimism about trade talks with China all of the major stock indexes finished the day higher among those shares performing well where technology and industrial stocks which you've been hurt especially hard in the trade wars prices rose following comments by president trump that an interim deal could be reached with China the United States has threatened a new round of terrorists on Beijing on December fifteenth if no agreement is in place trade tensions have been whip sawing investors earlier this week from speculated that a deal with China may not take place until after the twenty twenty election which sent stocks sharply

China Donald Trump United States Beijing Jim Zarroli President Trump
Apple Commits $2.5 Billion to Ease California Housing Crunch

All Things Considered

02:55 min | 3 years ago

Apple Commits $2.5 Billion to Ease California Housing Crunch

"Apple joins a growing list of tech companies vowing to fight the housing crunch and here's Jim zarroli has details apple said about a billion dollars will be used to invest in affordable housing in California another billion will be used to help first time home buyers get mortgages and apple says it will also donate land it owns in San Jose land it says is worth about three hundred million dollars Amy Fishman of the nonprofit housing association of northern California says the money will make a big difference in addressing the housing crisis we think it is a bold and critical it is so important that apple has stepped up along with other tech companies apple is only the latest tech giant to give money to address the housing shortage Facebook said last month that it would give a billion dollars Google has promised a similar amount Microsoft is doing the same thing in Seattle many of these companies have grown so big so fast that they've exacerbated the housing shortage in places such as Silicon Valley where restrictive zoning makes it expensive to build Kevin's work of housing trusts Silicon Valley says there's a growing recognition among these companies that they have to be part of the solution we've gotten into this mess from generations of having the wrong housing policy and land use policy and in order to get out of it it's gonna take big bold innovative initiatives with with significant amounts of new investment and and money the money comes at a time when the tech industry is having a huge image problem Facebook and Google have become so powerful but there have been calls to regulate them more and even break the mock there's heightened scrutiny of the negative influence they've had on the actions and even society more broadly donations like these are good PR but in the fishermen of the nonprofit housing association of northern California says these companies and their employees are also feeling the impact of the housing crisis around them it is unconscionable that so many people are sleeping in the streets every night it is unconscionable that people are driving hours and hours to and from their jobs we are living in an unsustainable environment in fact many tech executives complain they're having trouble recruiting because potential employees can't afford housing the problem has gotten so big that even the billions of dollars given by tech giants can only make a slight dent in the problem Jen loving is chief executive of destination home which works with the homeless it's getting fifty million dollars from apple she says it will take a concerted effort by business and government to fix the problem everyone needs to be all hands on deck we have a crisis tech giants like apple and Google have gotten so big their growth has outpaced California's housing supply and driven off home prices now they're beginning to address a problem they helped

Apple Jim Zarroli California Amy Fishman Facebook Google Microsoft Seattle Silicon Valley Kevin Chief Executive San Jose JEN Billion Dollars Three Hundred Million Dollars Fifty Million Dollars
Crash Victim's Family Pushes To Keep Boeing 737 Max From Flying Again Too Soon

NPR's Business Story of the Day

05:05 min | 3 years ago

Crash Victim's Family Pushes To Keep Boeing 737 Max From Flying Again Too Soon

"This message comes from NPR sponsor xfinity some things are slow like a snail races other things are fast like xfinity X. by get fast speeds even when everyone is online working to make WIFI simple easy awesome more at xfinity dot com restrictions apply Max doesn't crash again Jim Zarroli N._p._R.. News

NPR Jim Zarroli MAX
In escalating trade war, US consumers may see higher prices

Wait Wait... Don't Tell Me!

01:01 min | 3 years ago

In escalating trade war, US consumers may see higher prices

"Fire as of today the US and China are imposing new tariffs on each other's imports the trump administration is levying the import taxes on well over a billion dollars worth of Chinese imports NPR's Jim zarroli reports they're expected to lead to higher prices for clothes food and other consumer goods as part of its ongoing trade war with China the trump administration has placed tariffs equal to fifteen percent of the cost of goods imported from that country the terrorists will be placed on everything from for wearing T. shirts too smart watches and flat panel TV's the terrorists were initially supposed to be just ten percent but president trump raise them last week after China impose tariffs of its own a tear of his a kind of tax paid by importers when they bring goods into the country the importers can then pay the extra cost themselves or pass it on to consumers another round of terrorists is supposed to take effect in December on an additional three hundred billion dollars worth of

United States China NPR President Trump Jim Zarroli Three Hundred Billion Dollars Billion Dollars Fifteen Percent Ten Percent
Brexit Is The Latest Blow To The British Pound, Once A Symbol Of Economic Might

Morning Edition

05:02 min | 3 years ago

Brexit Is The Latest Blow To The British Pound, Once A Symbol Of Economic Might

"It's been some time since Britain's empire extended around the world but the British pound long a symbol of Britain's global power is still a source of great pride in the country over the years though the pound has lost a lot of its luster and the turmoil surrounding brexit has hurt its stature even more you Jim zarroli in the late nineteen nineties Europe embarked on a radical experiment it got rid of Italy's lira Germany's Deutsche mark and the French Frank among others and replace them with a single monetary unit the euro only one major country refused to get on board Britain here is then chancellor of the exchequer Gordon brown we will not seek membership of the single currency on first January nineteen ninety nine the decision was driven by much more than economics the pound also known as the quit or sterling is a rich cultural symbol a powerful reminder of the past glory of the British Empire I'll notes have been adorned with some of the most illustrious figures in British history Shakespeare Dickens and Darwin today people such as Jacquelyn Cup for a pharmacist's assistant in London say giving up the pound is almost unthinkable I think it's because it is so you know you've got an old school friend to turn everything now talk about the talent and it's part of our kind of culture really I think anything that you try to replace it with it wouldn't did the talking I think the pound is encrusted with centuries of British tradition one pound was long week will take two hundred and forty pence it bewildered tourists in nineteen seventy one the government decided to simplify things one pound would now be worth one hundred pence it took some getting used to even students had to take classes in the new money how many new pen if you guys have in one house for new my mom doesn't like the fifty pence I today's twelve to make sure they're not the singer Max Bygraves even put out a song of through all the changes the pound has long symbolized Britain's economic might at one time the pound was used to buy and spend all over the world it paid for roads in Africa and railroads in India it financed cotton fields in the American south Neil Ferguson is a senior fellow at the Hoover Institution and the author of the history of money if you go back to the nineteenth century the British pounds occupied the place in the global economy that the US dollar does today but as Britain's power wind so did the pound the government tried to stem the decline after the second World War travelers were barred from taking pounds out of the country you can take a holiday business alarms and travelers checks but not more than five pounds in studying those efforts like these not withstanding written over the years would have trouble controlling the pounds volatility the Ferguson remembers living through it my childhood was in some ways scarred by periodic sterling crises I think they were my introduction to economics as a boy growing up in Britain in nineteen ninety two came what was perhaps the worst crisis of all it was known as black Wednesday deep pocketed investors led by George Soros made enormous bets against the pound and the whole world watched as the pound collapsed the most dramatic turn in government if not extract you for twenty five years was forced on the prime minister and chancellor by the overwhelming pressure upon billions of being sold in the far next change mark Soros was said to have made a billion dollars in just one day since then the pound has only lost more ground today it's worth just a dollar twenty a fourth of what it was worth almost a century ago one big culprit lately has been brexit Britain's decision three years ago to leave the European Union sent the pound tumbling the government's chronic inability to come up with an exit plan has driven it even lower David Blanchflower is an economist at Dartmouth College the chaos that sits around a possible no deal brexit is scaring the markets and so the pound is folding steadily Blanchflower says the pound could soon be worth one dollar in the history of the pound that's never happened today the British pound with all its glorious tradition indoors but like the empire itself it's not quite what it used to be Jim zarroli NPR news New York

Britain One Pound Twenty Five Years Billion Dollars Five Pounds Three Years One Dollar One Day
Stocks rebound Tuesday from their biggest losing day of 2019

All Of It

00:54 sec | 3 years ago

Stocks rebound Tuesday from their biggest losing day of 2019

"On Wall Street stock prices regain some of the ground lost during Monday's session after signs that China is taking steps to stabilize its currency NPR Jim zarroli reports that the S. and P. five hundred rose by one point three percent Tuesday stock prices rose sharply as soon as trading began they briefly fell back into negative territory by the middle of the day and then rose again investors were encouraged by China's pledge not to let its currency the U. N. fall much more the sudden devaluation of the currency on Monday was seen by investors as a sign that the trade war between China and the U. S. is escalating and the Dow plummeted falling nearly three percent despite this latest rebound a lot of investors remain concerned about the impact of the trade war on growth oil prices are down nearly twenty per sense since late April Jim zarroli NPR news New

China NPR Jim Zarroli Three Percent
Germany's Largest Bank Announces Enormous Restructuring

NPR's Business Story of the Day

02:34 min | 3 years ago

Germany's Largest Bank Announces Enormous Restructuring

"Support for this podcast and the following message come from google from connecticut california from mississippi tim minnesota millions of businesses are using google tools to grow online learn how google is supporting businesses in your state at google dot com slash economic impact germany's largest bank is restructuring deutsche bank is known for huge deals and also some big risks now as it cuts its workforce georgia bank wants to isolate the risky investments that didn't pay off by putting them something called ain't bad bank npr's jim zarroli explains don't you bank has been in the news in recent years for all the wrong reasons it paid billions in fines for crimes such as money laundering it's under investigation by congress the lungs to president trump but deutsche bank has problems completely separate from that it's made a lot of bad investments and its share price hit a record low last month yesterday the banks said it was setting up what it calls eight capital release unit also known as a bad bank polite euphemism for this is where the garbage goes karen sharp petros federal financial analytics says don't you bank is taking all the poor investments it's made eighty one billion dollars worth of bad loans and sketchy derivatives and creating a separate unit for them then once it's wrote them off from everything else the bank owns it will try to sell them it won't be easy because petrie says once you've put in as it into something called a bad bank it's pretty much stigmatized you can't pretend anymore you release said okay here on my dog he's an investors will then i try to get in the market you caught fire sale prices petrie says buyers tried to cherry pick the best assets that's cheaply and don't you think won't exactly be in a position to bargain it's bound the lose a lot of money but here's the good part once it's unloaded those bad assets it could send a message to shareholders and regulators that it's cleaned up its act and it's ready to move on it's finally in a sense bearing its soul isolating its troubled assets instead of sticking with the game face will maybe they'll soon be good petrie says this isn't a step banks take lightly

Google California Mississippi Deutsche Bank NPR Jim Zarroli Donald Trump Financial Analytics Petrie Connecticut Germany Georgia President Trump Eighty One Billion Dollars
"jim zarroli" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

03:04 min | 3 years ago

"jim zarroli" Discussed on WNYC 93.9 FM

"Media dot org from NPR news it's All Things Considered amber is always Kelly and I'm Audie Cornish stock prices soared to record highs today catapulted by president trump's announcement that the US is talking trade once again with China trump also said this weekend that he's easing trade restrictions on the Chinese telecom giant while away it's not clear whether the decision is a lifeline for while way or just a negotiating ploy and there is Jim zarroli reports trump has taken an especially hard line against while way calling it a very dangerous company and an extension of Chinese intelligence his decision to put the company on a commerce department blacklisting may would have forced US companies to obtain a license before selling to walk away but over the weekend trump softened his position he said US companies can now do business with while way as long as the transactions don't present a great national security problem we sell to while away a tremendous amount of your product that goes into the various things that they make and I said that that's okay that we will keep selling that product trump didn't specify what kinds of products are now permitted and there's been considerable speculation about just how much of a reversal this was far away last year bought eleven billion dollars in computer chips and other items from U. S. companies such as Intel and qual com White House official Larry Kudlow told fox news on Sunday that the commerce department would probably open the door to sales of some kinds of items such as computer chips that are widely available in other countries there is a lot of technology services telecom related services there really you can find on general markets and we don't think have any national security implications but Kudlow was quick to insist that this wasn't amnesty for awhile way and national security concerns would remain paramount trumps apparent shift underscores how delicate an issue while way remains for the administration China hawks in Congress and the White House one trump to take a harder line against the telecom giant that economists Patrick show Vanik of silver crest asset management says both countries are just anxious to get back to the table so they can address their trade differences open she I think both had an incentive to sort of call it time out because both economies are looking a little bit wobbly and China had threatened not to restart talks unless the hallway band was east Hudson institute senior fellow rob Spaulding says trump probably thought he needed to concede something so negotiations could resume I think the the president want to to give a president she a face saving gesture in order to restart talks and for now that seems to have worked and the two countries say they're ready to start talking again Jim zarroli NPR news this month in Altec considered how technology and tech companies can help slow climate change.

NPR eleven billion dollars
"jim zarroli" Discussed on KCRW

KCRW

01:30 min | 3 years ago

"jim zarroli" Discussed on KCRW

"Be worth it. In the end Jim zarroli NPR news. This is NPR news. And you are listening to KCRW. Still ahead. Marketplace public radio's business and finance program has been looking evidence that as we get older. We become more vulnerable to financial exploitation by strangers and even by family. Doctors advocates say that now's the time for national conversation about protecting the money of older, people then later today at one thirty here on KCRW this week on the business growing up in a rust belt town fight Chicago, Bing, Liu found joy and making skateboarding videos with his friends over the course of twelve years. One of those many movies, morphed into the coming age documentary minding the gap who sleek, you know, taking five years, added escape video, and it's like being video. So when it came back, there are probably early psyched to be filmed by me, and then probably wait it out that follow all these other aspects of their lives. We visit our.

KCRW NPR Jim zarroli Bing skateboarding Liu Chicago twelve years five years
"jim zarroli" Discussed on 90.3 KAZU

90.3 KAZU

07:43 min | 3 years ago

"jim zarroli" Discussed on 90.3 KAZU

"It's all things considered from NPR news. I'm Audie Cornish. And I'm Chang. President Trump has opened a new front in his power struggle with Democrats in congress, but instead of taking legal action against his political adversaries, he suing the very banks that he's done business with he filed suit in federal court yesterday to stop the banks from turning over records to two house committees that are looking into his family's financial affairs. NPR's Jin's Rowley reports earlier this month house, investigators looking into Trump's ties to foreign governments issued subpoenas to Deutsche Bank and other financial institutions. Trump's lawyers say the subpoenas amount to a huge fishing expedition, reaching far into the past Trump's son, Eric told Fox News this morning that Democrats were going after his entire family. It's actually my father, Eric, I want see all your Bank records. I wanna know how much Laura spent on baby formula for for Luke. I wanna know what you know. How many beers? Tiffany had on a Friday afternoon in in Georgetown, Eric Trump is one of the plaintiffs in the suit as is his sister vodka and brother, Don, jR, not to mention the Trump organization itself. The suit asks the court to bar deutchebanks Capital One from turning over any financial records about the Trump family or its company Deutsche Bank in particular was one of the few major banks to lend money to Trump after his casinos went bankrupt in the early nineteen nineties and congressional investigators are eager to look into its ties to the president a quarter blocking the subpoenas would stop the investigation in its tracks. Or at least sideline it for a while. I think what it's likely to do at this stage is slow things down. But Laurie Levenson of Loyola Law. School says it won't stop the investigation for good. She says the courts are unlikely to side with Trump in the long run. I think the president is fully aware that down the road the court will allow some of these subpoenas, especially the one. That focus on him and his transactions federal courts have traditionally given congress broad authority to investigate and have been reluctant to intervene. When congress issues a subpoena says Harvard Law School, professor Noah Feldman at as early as eighteen twenty one supreme court said, yes, congress has the essential tower to investigate and to subpoena people and even to hold them in contempt because that's essential to being a legislature. Feldman says the supreme court upheld that power in nineteen seventy five quarts, basically said this is up to the congress. They do what they wanna do. We don't get involved Democrats called Trump's lawsuit yesterday meritless, California, congressman Adam Schiff who chairs the house intelligence committee told the Washington Post today that Trump's lawsuit is part of an overall effort to curb the power of the legislative branch. I Trump declared an emergency. So he could spend money on a border wall with Mexico shifts said that was an attack on Congress's power of the purse. Now, he is going congress. Again to try to undermine one of our other most important powers and responsibilities. And that is the responsibility of oversight to Noah Feldman. Trump in his attorneys may be playing a long game. They may be hoping they can persuade the supreme court to step in and strike down or at least restrict the subpoenas. But that may take a while. And in the meantime, lower courts are likely to side with congress and Feldman says without a court order to the contrary. Big banks may have no choice but to comply with congress demands. That means giving investigators the records they want. Every Bank is too intense federal regulation and economic an explicit demand. From congress is not a good idea. If you're a regular vanity Deutsche Bank in particular has repeatedly run afoul of Bank regulators over financial crimes such as money laundering. And the Bank has made clear its willing to cooperate with investigators and comply with any court order. It receives Jim zarroli NPR news, New York. Attorney general William bar has only been on the job for ten weeks. But he's already left a big impression mostly because of how he handled the Russian investigation. There is substantial evidence to show that the president was frustrated and angered by his sincere belief that the investigation was undermining his presidency. Propelled by his political opponents and fuelled by illegal leaks this week the attorney general heads to congress for the first time since that special counsel report became public NPR national Justice correspondent Carrie Johnson has been following the handling of this matter. She's in the studio now, welcome Kerry. Hey outy. Remind us what the expectations were for the Justice department under bar and how that's actually played out. Yeah. Bill Barr had served as attorney general once before the end of the George H W Bush administration. He was viewed as highly qualified a bright guy a steady hand at the Justice department. But Senate Democrats at the time had some reservations about his release sweeping views of executive power. And what that would mean under a president like Donald Trump who likes to break the China. It turns out bar has been very vocal defender of this president same several times in that news conference earlier this month that there was no collusion, which was Trump's messaging and the special counsel finding once we finally read it was not quite so clear. The special counsel said there was. Wasn't enough admissible evidence to prosecute not no evidence of conspiracy at all between Trump campaign aides and Russians the attorney general also concluded that the president would not face charges for obstruction of Justice. How much will that come up in his Senate hearing? It's certainly a message that Democrats are going to try to advance this week. They believe that this issue of obstruction was specifically left open for congress to decide, but if Senate Judiciary committee, chairman Lindsey Graham has his way this hearing tomorrow is going to focus on the origins of the Russia investigation investigating the investigators. That's what attorney general bar has called spying on the Trump campaign. But it's hard to see how far will dock some hot questions on his handling of the special counsel probe. Remember, he still fighting with the House Judiciary panel about while. They're he's even going to show up there later this week and under what conditions. There's been so much focus on Russia. And the Muller report what else has been what else has been on Bill bars agenda, kind of a lot. He's been very tough on. Immigration. He's been trying to make it basically much harder for people seeking asylum making it clear that they will have to remain in detention during the long wait for a court hearing on opioids the Justice department has been cracking down on doctors who prescribe opioids for non medical reasons. And then there's also healthcare. The Justice department is declining to defend the Affordable Care Act that's President Obama's signature healthcare law, Democrats, and even some Republicans are worried about what will happen to people with pre existing conditions. If that law goes away. Finally before we let you go. There. Some news this week on the deputy attorney general rod Rosenstein, what's the latest. There's always some drama over at the Justice department. Leave rod Rosenstein has submitted his letter of resignation to the president as of this week. Now that was expected after Bill bar came on board. The new AG gets to pick his next deputy Rosenstein had planned to see the Russia investigation through make sure that that was done in takeoff. And that's in fact, the plan. That's what happened Rosen science as his last day. We'll be may eleventh that seems to be leaving enough time for the Senate vote on his successor Jeffrey Rosen. He's a veteran of the same law firm where the attorney general Bill bar worked for a long time. That's NPR's Carrie Johnson Kerry, thanks so much. My pleasure..

President Trump congress Trump president Justice department Attorney NPR Deutsche Bank Donald Trump special counsel Noah Feldman rod Rosenstein Senate Carrie Johnson Kerry Audie Cornish Bill bar
"jim zarroli" Discussed on KCRW

KCRW

01:42 min | 3 years ago

"jim zarroli" Discussed on KCRW

"For summit. I felt it was very successful. Some people would like to see those satisfied satisfied. We want to be happy with what we're doing Trump referring to positive meetings and dialogue, thus far speaking before dinner in Hanoi facing pressure at home over investigations into Russian interference in the two thousand sixteen election and testimony on Capitol Hill from his former lawyer Michael Cohen, Trump sits down with Kim tomorrow for a series of meetings beginning with the one on one session. US Trade Representative Robert lighthizer told a house committee today real progress is being made in trade talks with China NPR's. Jim zarroli says the US won't agree to any deal though, that doesn't address long-standing structural problems with Chinese trade policy. Lighthizer told the House Ways and means committee that the US has been engaged in what he called very intensive extremely serious and very specific talks with China. Let me be clear much still needs to be done. Both before an agreement is reached and more importantly after lighthizer said any trade deal has to include enforcement provisions. So that China lives up to its promises. The Trump administration wants China to agree to open its markets and stop the theft of intellectual property. Trump initially threatened to impose tariffs on Chinese imports by this Friday, but he extended the deadline because he said progress is being made Jim zarroli NPR news on Wall Street. The dow. How closed down seventy two points. The NASDAQ was up five points today. You're listening to NPR and you're listening to KCRW. It's four minutes after four o'clock. I'm Steve Chia. Take is good afternoon northern. California's just getting hammered.

Trump Robert lighthizer China NPR US China Jim zarroli Steve Chia NPR Hanoi California Representative theft Michael Cohen Kim four minutes
"jim zarroli" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

05:14 min | 3 years ago

"jim zarroli" Discussed on WNYC 93.9 FM

"The Bank as his past rhetoric suggests Jim zarroli NPR news, New York. You're listening to all things considered on WNYC. I'm Jamie Floyd the crowded field in the race for public advocate is thinning out. That's because candidates are bumping up against what it actually takes to run for office in New York City. It's an especially harsh reality. Check for first time candidates. WNYC's bridge Bergen reports if running for office was like competing in one of those crazy ninja warrior competitions. The first obstacle in. This race would involve the board of elections. The board adheres strictly to state election law and the deadlines at sets for certain documents candidates live or die by paperwork. My name is foam E K. Everyone calls me if I marched before the board last week, she was hoping to resuscitate her campaign from a fatal defect. Shame on the Catholic that meant sparring with the board's chief counsel Steve Richmond. Kanye jump of all the dishes on the very last agent filed. Days after the aging. The statue things. The real problem was aches campaign lawyer forgot one document it's called the certificate of acceptance, it affirms she actually wanted to accept her party's nomination it was due to days after her petitions and she missed the deadline. Those provisions of the election have not changed the timeframe for the twentieth. I believe it precedes me at the same time. This is also president of citywide special legends. Always argue with all due respect the procedures by B O. We NCNB have not been clear as you can tell Ike is a lawyer she's worked in congress city hall nonprofits, the board kicked her off the ballot. And she told me what that was like I felt like this huge boulder that our team had been pushing up literally just gave way and crush on everybody. There are lots of hurdles facing first time candidates some like Ike. Get tripped up early. But even when you make it over one there always seems to be. Another hurdle ahead of you. Seventeen candidates did make it on the ballot including first-timer, then Ye he's so well versed in how the political system works. He literally delivers a presentation explaining it anywhere. People invite him living-rooms community centers democratic clubs you name it. I'm they're talking to at this point over four thousand people, but even he stumbled at the next hurdle. The first televised debate the city's campaign finance board. Sponsors, the televised debates to qualify candidates must reason spend enough money to prove they're viable the threshold for the first debate is nearly fifty seven thousand dollars was about twenty thousand short of that. So he and six others who made the ballot won't be on the debate stage. He says he's disappointed, but he's reaching out to voters in another way. There's a forum almost every night now, and we're meeting the people who care enough to come out and see candidates speak in person. There is only one first time candidate who managed to make it on the ballot and to the first debate. And that's attorney dawn Smalls she's plugged into a national political network. I've worked in two democratic presidential administrations. I have worked on political campaigns in various roles and so while I am a first time candidate. I'm not news this process. Her problem is the second debate with the CSV calls the leading contenders to beat to qualify candidates, not only need to raise money, but they also need to secure an endorsement from an elected official or an organization small says that makes it harder for someone who isn't as plugged in at the local level all of the elected officials that are running. They're all part of that. And they all have friends and have people that they can rely on. That's not a hard requirement for them. But it is an extra hurdle for a I. Time candidate there's still time for small to secure that endorsement, and there's a silver lining for all the candidates eager to attempt that obstacle course known is running for office. There's a primary for public advocate the same office in June and the day the candidates begin to collect signatures to get on that ballot is the same day as this special election. That'd be wary. Twenty-six brigid Bergen WNYC news. The first debate gets underway tonight at seven. At WNYC. We rely on listener support..

WNYC official New York City NPR Jamie Floyd Jim zarroli New York Bergen Steve Richmond Ike Kanye congress city hall chief counsel president dawn Smalls attorney fifty seven thousand dollars