35 Burst results for "Jim Zarroli"
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.
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
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" 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.
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
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
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
"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.
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
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
"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.
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
"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 KQED Radio
"In Iraq or anti government demonstrations have been going on since October protests have intensified over the choice of a possible new prime minister NPR's Generac has more Sunday was the deadline for parliament to choose a new prime minister the previous one resigned in response to huge protests in Baghdad and the south of Iraq one of the biggest political blocs supported by Iran has proposed a cabinet minister in the outgoing government the sales a hail of the protesters are rejecting him saying he's part of the same old crowd in response protesters in cities in the south shut down schools and government offices some blocked highways and city intersections with burning tires security forces and militias have killed more than four hundred and sixty protesters in the demonstrations which are demanding an end to corrupt politicians and governments tied to Iran and other countries at least sixteen thousand more people have been wounded
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
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
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
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
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
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
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
"jim zarroli" Discussed on KCRW
"Nearly three hundred fifty people and here is Jim zarroli has the latest the seven thirty seven Max's Boeing's bestselling plane by far and the company took a huge financial hit when regulators around the world order the planes grounded today Boeing said its revenues were down thirty five percent compared to the same time last year it's still building the planes but at a slower pace and they're sitting idle in Texas and Washington state but it can and deliver the finished planes to its customers the airlines speaking to investors today Boeing CEO Dennis Muhlenberg called the grounding of the plane a defining moment for the company and he predicted that Boeing would emerge from the fiasco stronger and better we are confident that when the the seven thirty seven Max returns to service it will be one of the safest airplanes ever to fly that is the most important thing that we're going to take the time necessary to ensure it's safe but Millersburg also said regulators around the world will decide when the plane will fly again and if they don't clear the seven thirty seven Max to fly by the end of the year Boeing could stop producing the planes all together at least temporarily that could have ramifications for airlines for passengers and even for the US economy as a whole Boeing is by far the country's biggest exporter and its aircraft contain parts made all over the country so any slowdown in production could have an impact on growth even the country's treasury secretary Stephen the new chin weighed in on the company's troubles today Boeing is a very strong company.
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
What's a 'Bad Bank' and How Can It Help Deutsche Bank?
"Germany's largest bank is restructuring Deutsche Bank is known for huge deals and also some big risks now as it cut its workforce Georgia bank wants to isolate the risky investments that didn't pay off by putting them in something called a bad bank and here's Jim zarroli explains don't your 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 for loans to president trump but don't your 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 bank said it was setting up what it calls a capital release unit also known as a bad bank polite euphemism for this is where the garbage goes Karen shawl Petru of federal financial analytics says don't your 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 rope 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 an acid into something called a bad bank it's pretty much stigmatized you can't pretend anymore you really said okay here my doggies and investors will then I try to get what we in the market you call fire sale prices thank you says buyers try to cherry pick the best assets cheaply and don't your bank won't exactly be in a position to bargain it's bound to lose a lot of money but here's the good part once it's unloaded those bad assets it can 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 well maybe they'll soon be good country says this isn't a step banks take lightly it's a last resort but the strategy has worked in the past after the financial crisis a decade ago city group credits reason the royal bank of Scotland all set up that banks and they all recovered now Deutsche Bank is trying the same thing Jim zarroli NPR news
"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..
"jim zarroli" Discussed on KCRW
"Morning, ongoing Sigler in Santa Clarita, southbound five between Valencia and Cal grow some emergency pothole repair. And then up ahead south five at the fourteen wreck. And while the middle lanes. This is morning edition from NPR news. I'm Rachel Martin. And I'm Steve Inskeep. Good Friday morning. This is a good moment to remember do not read too much into a single month statistics on employment. I it's just a change of single moms next. What little information regained can be misleading because it is common for the bureau of labor statistics to revise the numbers later. But with all that said the numbers just out for February are startling the US economy added far fewer jobs than analysts expected. NPR's gyms Rowley is with us. Hi, jim. Hi, steve. What are the numbers? Well, as you say this. This was really a a performance that was stunningly blow expectations. The people were expecting maybe one hundred eighty or two hundred thousand jobs created during month, and it turned out to be just twenty thousand. So so this this is a real disappointment. I mean, we have had strong jobs growth for a while. Now, January was really strong. We had upwardly revised number of three hundred. And eleven thousand. So this is just falling off a cliff is it possible since the job market has been growing for so long and unemployment the unemployment rate is way below four percent still quite low that we're just creating about as many jobs as there can be created. You know, that that that may be at some point the economy gets to the point where you can't grow anymore because there just aren't enough workers. But I don't I don't know that we should attributed this this. You know, under performance to that there were some factors during the month. The that that might have driven these numbers lower, the the no the the numbers for the construction industry and the leisure and hospitality industry were especially low construction numbers fell leisure and hospitality growth was flat. Now, the thing about these areas is they're very dependent on the weather, and we had some big snowstorms during the month. So that may be a factor there, all kinds of kinds of temporary factors that that may go into this. I suppose we should remember again, this is a single month. But you said construction jobs fell if that became a trend over the course of many months or over the course of a year that would be a real sign of trouble in the economy, wouldn't it? Yeah. Yeah. Because the construction sector is very sensitive to changes in the economy, and that's really where we are right now because we're getting mixed numbers in general these days about where the economy is going on, for instance, retail sales numbers were really. Low in December on the other hand consumer confidence appears to remain strong. So people are looking at these numbers, and just you know, kind of wondering what to make of them and the Federal Reserve which had been raising interest rates. For awhile has has put further rate increases on hold and says, it's way kind of watching patiently to see what's happening. Now. One question is how many people have a job that's who we're talking about. But the other question is how much people are getting paid have wages continued rising as they have done slightly recently. Yeah. That was another surprising thing about this sort of counterintuitive the wage numbers were were good. Hourly wages rose four point four tenths of a percentage point. Those are really good numbers, especially considering we've had this long period of kind of you know, average not so good. Wage growth. So so, yeah, that's another just another paradox in these numbers. I mean what to make of that? What question is on your mind, as you think about I don't know the next monthly employment report, the trends, you're looking for is this just a one time thing, or is this something that's going to you know, is this part of a trend. Are we heading for much slower growth? Jim. Thanks very much for the update. You're welcome. That's NPR's. Jim zarroli in New York..
"jim zarroli" Discussed on KQED Radio
"The Bank as his past rhetoric suggests Jim zarroli NPR news, New York. You are listening to all things considered from NPR news. This weekend. The town of Mohra Minnesota will host one of the oldest cross country ski races in the country despite a trend of warmer winters and inconsistent snowfall. The race will go on thanks to a bunch of intrepid volunteers dubbed the snow. Farmers. Dan, Crocker of Minnesota public radio reports skiers have raced in the Voss elope it about an hour and a half north of the twin cities since one thousand nine hundred seventy three but in the last seven years, there's only been enough natural snow to put on the full race once enter Don Olson room for me. Olsen is perched behind the wheel of a big tractor. He's sixty seven an engineer by day who also runs a fifteen hundred acre farm in the summer in the winter, he farms snow. It's an undertaking. That is almost crazy when you think about it behind the tractor. He's pulling a manure spreader he Jerry rig to spray. Artificial snow on the ski trail one load of snow covers about thirty feet of trail part. Macgyver. Part stubborn Scandinavian Olsen estimates. It will take the crew of snow farmers about fifteen hundred loads to cover the eighteen kilometer. Race course. That's right. Fifteen hundred trips. A lot of people have worked their tails off to create this race to keep going. At this point. I absolutely don't wanna see this division. And more Minnesota a few years ago. Olsen says the race was on the verge of dying. Organizers had to cancel it in twenty twelve when there wasn't enough snow.
"jim zarroli" Discussed on KQED Radio
"I'm going gonna do to you what you did to us. In fact, with congress divided. There's a limit to what waters can accomplish legislatively, but she can't hold hearings. Ian, cats of capital alpha partners says she can haul regulators and bankers before the committee and shine a light on issues. She cares about she can't pass laws. She can make a Bank executives and some of the regulators appointed by Trump, very uncomfortable and create some awkward moments for them. Cats points out that Trump has embarked on a major effort to deregulate banking. He says waters can make that more difficult. She can't necessarily change with they're going to do change the regulations, but she could slow things down. She can also turn up the heat on Trump waters has already been a fierce critic of Deutsche Bank, which has been one of the few big banks willing to lend money to Trump's businesses. She was asked about the Bank on Bloomberg TV last week. And we know that dodger Bank is identified as one of the biggest money laundering banks, you know, in in the world, perhaps. And that they're the only ones who were you know, amenable to providing loans to this president. So we wanna know some things about that waters is quick to say the committee will look at other issues too. But her new role will give her the resources to look into. How Trump's businesses are financed. And she's made clear she's more than willing to do that. Jim zarroli, NPR news, New York. This.
"jim zarroli" Discussed on KQED Radio
"I'm going to do to you what you did to us. In fact, with congress divided. There's a limit to what waters can accomplish legislatively, but she can't hold hearings. Ian, cats of capital alpha partners says she can haul regulators and bankers before the committee and shine a light on issues. She cares about she can't pass laws. She can make a Bank executives and some of the regulators appointed by Trump, very uncomfortable and create some awkward moments for them. Cats points out that Trump has embarked on a major effort to deregulate banking. He says waters can make that more difficult. She can't necessarily change with they're going do change the regulations, but she could slow things down. She can also turn up the heat on Trump waters has already been a fierce critic of Deutsche Bank, which has been one of the few big banks willing to lend money Trump's businesses. She was asked about the Bank on Bloomberg TV last week. And we know that dodger Bank is identified as one of the biggest money laundering banks, you know, in in the world, perhaps. And that they're the only ones who were you know, amenable to providing loans to this president. So we wanna know some things about that waters is quick to say the committee will look at other issues too. But her new role will give her the resources to look into. How Trump's businesses are financed. And she's made clear she's more than willing to do that. Jim zarroli, NPR news, New York. This.
"jim zarroli" Discussed on WNYC 93.9 FM
"As NPR's Jim zarroli tells us investors seemed to like the prospect of two years of divided government. Both the Dow Jones industrial average and the standard and Poor's five hundred index finished more than two percent higher. And the NASDAQ composite index ended up more than two and a half percent. Stocks have been rising this month after October's route. And they only climbed further in the wake of the midterms with the house and democratic cans and Republicans controlling the Senate Washington is likely to see two more years of gridlock. That means congress is unlikely to do some of the things that many investors want like making last year's individual tax cuts, permanent by congress is also unlikely to do anything that might destabilize the economy like eliminating the Affordable Care Act and healthcare stocks were among the days. Big gainers. Jim zarroli, NPR news, New York. Embattled attorney general Jeff Sessions has resigned at the request of President Trump today. Trump and sessions fell out when the attorney general recused himself from the special counsel's investigation into Russian interference in the two thousand sixteen elections and never really fell back in. Here's the president talking about the investigation to reporters before sessions announced he was stepping down. This is a investigation where many many millions of dollars has been spent. And there's no collusion. We're supposed to be on collusion. There's no collusion. And I think it's I think it's very bad for our country. I will tell you. I think it's a shame Trump has repeatedly belittled sessions in public expressing regret about appointing him acting attorney. General Matthew Whitaker now has responsibility for the investigation. Democrats are calling for him to step away after he cited in an op-ed piece on CNN special counsel was overstepping. His mandate. This is NPR news. You're listening to WNYC. I'm Jamie Floyd. Good government groups are questioning whether New York state Senator Marty golden engaged in some last-minute electioneering WNYC's Morris silvers reports some voters in south Brooklyn tweeted, photos of state Senator Marty golden inside polling places on election day, but he wasn't voting. The Republican incumbent was handing out cookies to pull workers and greeting voters while wearing a jacket embroidered with his name. Rachel bloom of the good government group citizens union says that doesn't look good. We do not think that people running for office should be actually sites shaking hands. And that it appears like an electioneering to us a spokeswoman for the state board of elections said candidates are allowed to visit polling sites on election day, but didn't address the specifics of this circumstance the race between golden and democratic challenger. Andrew Bernardus remains too close to call. Voter turnout nearly doubled from the last midterms bought WNYC's Gwen HOGAN reports it wasn't quite historic more than nine hundred thousand additional voters cast ballots compared to the midterm elections in two thousand fourteen. That's according to preliminary tallies from the city's board of elections. That's still only thirty seven percent of New York City's registered voters and voters used to turn out at higher rates up until around two thousand and two. There were also almost a million fewer voters than in the presidential elections in two thousand sixteen New Yorkers in certain polling places reported hours long lines, but that had more to do with an array of technical issues on the part of the city's board of elections rather than the actual number of voters who showed up after news headlines WNYC's, Jim O'Grady will update us on those technical problems and the city board of elections response. And in other news, there has been a notable uptick in hate crimes in New York City, according to NYPD. There have been three hundred nine hate crimes so far in twenty eighteen outpacing last year's numbers by twelve. Antisemitic crimes have seen the largest increase Commissioner James O'Neill says the police need the help of the public anybody's a witness video to come forward. I know we do video we do extensive video canvases of you have anything out there that can help us. I think that would really make the difference last week the African burial ground monument in lower Manhattan was vandalized with a racist slur. Police are investigating currently it is sixty degrees. Partly cloudy at five thirty five support for NPR comes from WNYC members. And from focus features presenting boy erased, starring Lucas hedges, Nicole Kidman, and Russell Crowe based on a true story of a son who must overcome the fallout of being outed to his parents now in select theaters and log me in makers of Goto meeting. A collaboration meeting platform that comes equipped with features to help people stay focused to get work done. Learn more at GoToMeeting dot com from NPR news. This is all things considered. I'm Mary, Louise Kelley and I melted Chang. Attorney general Jeff Sessions is out. As is often the case with personnel changes in the Trump administration word came on Twitter shortly before three pm. The president tweeted, quote, we are pleased to announce that Matthew g Whitaker chief of staff to attorney general Jeff Sessions at the department of Justice will become our new acting attorney general of the United States then in a later tweet, President Trump thanked sessions for his service and wished him. Well, okay. NPR's national security editor Phil Ewing joins me. Now. Hey fell. I also we have not heard much about the Mueller investigation in recent weeks likely because of the midterm elections. But now that those are over where does this investigation stand? Yeah, you're right. It's been quiet since around Labor Day, but there have been some expectations. Recent. With the passage of the election that things could start to heat back up. Again, his work is clearly unfinished, and there's even speculation that he may target a few more people with criminal charges. Now, the special counsel's office doesn't talk. We haven't seen or heard from Muller since he took this Jaaser. So a lot of this is induction from what people have said. But one example is the political consultant Roger stone. He's been telling nearly anyone who listened including our colleague, Tim accurate NPR that he expects an indictment. It's also possible. Based on a lot of discussion that there could be charges against Julian Assange, the head of Wicky leaks, which released embarrassing cereal against targets in the two thousand sixteen election that came from the Russian government, and there could be others. So there could also be some kind of final report or some statement from Muller. And then the question becomes will that be public Muller's required to submit something like that to his bosses, but there's no rule that says it has to get out in the open. All right. So what does sessions resigning today alternately mean for the whole investigation? Well, one thing it means Muller has a different boss. He had been. Pointing to the deputy attorney general rod Rosenstein pointed him, that's because sessions recused himself. He didn't think he should be involved with investigating a campaign of what she had been apart. And now that the acting attorney general Matt Whitaker is in charge. He's not recused. And he will be taking over from what we understand now has been pretty skeptical about moas investigation in the past. And so that could complicate matters at very least, it could be kind of awkward in the room with these two men inside the Justice department, although we're still learning more about what exactly this will mean. Okay. So I imagine that there are all kinds of ways a new attorney general could get in the way of this investigation without actually firing special counsel Robert Mueller. Yeah. That is true. The president had a press conference at the White House today in which he said he didn't intend to fire the special counsel. He could if he wanted to. But he hasn't basically for political reasons at the same time, the new acting attorney general could defend the special counsel's office. He could declined to authorize investigative techniques. And make mother's life in the life of his investigators, very difficult. All right. That is NPR's Phil Ewing. Thanks so much. Phil. Thank you. Let's get Senator Angus king in on this conversation. He is an independent from Maine and a member of the Senate intelligence committee, which has been conducting its own investigation into Russian meddling in the two thousand sixteen election, Senator king, welcome back. Good to talk to you again. Hey, great to be with you. And I think the first thing I should say that whatever I say this conversation is not based on anything that's coming out of the intelligence committee investigation. I just wanna I just wanna make that clear careful about keeping what needs to be classified classified. I appreciate your caution. Let me get your your take on the sessions news today. And how what you've were you think about how it would affect the Mueller investigation. Well, I think the first thing to be clear is Jeff Sessions had to recuse himself. The regulations of the Justice department going back before Donald Trump or probably Barack Obama. I don't know how far they go back so explicitly if you worked in a campaign, you cannot have anything to do with investigation of that campaigns. That was Jeff Sessions he was very active in the Trump campaign. So what changes? Is that he's out? Well, I think what happens now is it's it's it's hard to characterize what happened today is anything. But it kind of slow motion Saturday night massacre. Because I you have sessions who's fired and the only beef seems to be his failure to recuse himself, which as I said, he had to do the second piece is he's the the appointment of the acting skipped over the logical next choice, which is the deputy rod Rosenstein who has made it clear that he is not going to impede this investigation. And it's fallen to this fellow Whitaker. Who's the chief of staff who's been very critical of the Mueller investigation. So it's hard to look at those that series of events in any way, other than an attempt to set up some kind of compromise for the modern investigation, whether as you were discussing whether it's an outright termination, or whether it's more likely some kind of budgetary crippling, narrowing of the scope, you that's what's going on you reference to a slow motion Saturday night massacre and setting aside that were Wednesday night. Let me let me push you on that. Because that you're making a historical reference to to a case in which multi. People people left. I mean at this point. There's no suggestion that rod Rosenstein job isn't safer. Do you know otherwise? No. But he's he's now been it affect is. At least as I understand it taken out of the line of the sorority over the Mueller investigation and someone else's put in and it appears that the president is is looking for someone who will do what he wants with regard to the modern education. Now, this is fierce speculation Mr. Whittaker may be totally above board, and and solid and supportive of the investigation. And we won't have an issue, but that remains to be seen and it does. No, I don't. There's an easy solution to this the judiciary committee in the Senate reported out on a bipartisan basis a Bill to in effect. Protect the Muller investigation. Mitch McConnell can bring it to the floor. Anytime he could bring it up next week. And the Senate could move on that Bill, and it would remove this sort of cloud of maneuvering that's going on. And I think that might be sort of clean way to deal with this. Do you realistically expect that to happen? Now that the Senate, of course, has a bigger Republican are we'll have a bigger Republican majority than than it has had in past. Well, the leader mcdonagh McConnell and other Republicans have repeatedly said they don't want to compromise the investigation. It's but they've always said it'll never happen note. No compromise. You know, it's not going to happen. Don't worry. We don't really need this Bill. What happened today sort of raises the stakes on that discussion to seems to me and makes the Bill. More necessary. Whether they will move it. I don't know. But here's here's the thing that I've always wondered the president continues to declares innocence. If indeed he's as innocent as he says he ought to want this investigation. He ought wants us investigation to go as far as it can and to clear his name. Otherwise, if the investigation is terminated in some way, artificially this thing is going to hang as a cloud over him for the next two years and into twenty twenty. And of course, what happened last night changes things because Adam Schiff could hire Mahler as special counsel to the Senate to the house intelligence committee and just continue the investigation under the auspices of the of the house, Adam Schiff who we interviewed elsewhere in the program, and let me briefly put to you one thing he said to me, which was whoever is named as the new permanent attorney general when the Senate is asked to confirm this person. And this is gonna fall to your Senator king and your colleagues they need to get an cloud commitment that the Muller investigation will be protected. I agree with that. And I think that ought to be one of the first questions acid. I'm sure it will be and I hope that my colleagues on both sides of the aisle will agree with that the the integrity of the investigation is very important. And as I said before it's very important to the president himself because it's the best opportunity. He has to clear. This thing up and the other thing that should be mentioned is going. Investigation. It's this is an investigation not a conclusion whatever Muller comes up.
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"Wages arise. And the number of Americans working right now today has reached an all time high in our history. Trump also told the crowd that McCain's we'll be reversed and government regulations will increase if voters choose Democrats over Republicans in next month's elections. The president also said that rage over supreme court nominee. Brad Kavanagh will boost GOP turn out. New York's attorney general's office says President Trump's charitable foundation repeatedly violated state and federal laws. NPR's Jim zarroli reports at the state filed papers Thursday asking a judge to let a lawsuit against the foundation. Proceed attorney general Barbara Underwood sued the Trump foundation in June. The suit said the foundation had solicited money from donors, and then used it for campaign purposes and to settle legal claims against Trump's company among other things in August. The foundation asked the court to dismiss the suit saying it was motivated by politics in her response Underwood argued that the foundation was misstating the claims against it and ask that the suit be allowed to continue. She said the Trump foundation was a show corporation that functioned as a checkbook from which Trump's businesses made payments. Jim zarroli NPR news New York on stock markets in Asia, shares are mixed up one percent in Shanghai following a down day on wall. Street. You're listening to NPR news. A Chicago jury has begun deliberating. The fate of the white police officer who fatally shot a black teenager four years ago. A video of the incident was a key part of closing arguments. In the case defense attorneys say officer Jason Van Dyke killed the quantum McDonald because he felt threatened when the teenager refused to drop a knife. Prosecutors say the video shows McDonnell was being shot sixteen times while walking away a French rescue team is lost hope of finding life beneath the rubble of a hotel on Indonesia Sulawesi island sensors detected life there Thursday, but rescuers got no response Friday morning. The disaster claimed more than fourteen hundred lives and displaced tens of thousands others a week later, the BBC's Morocco oil reports that power has been restored. And some shops are open again here in the city as Paul do. We.
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"Americans working right now today has reached an all time high in our history. Trump also told the crowd that economic gains will be reversed and government regulations will increase if voters choose Democrats over Republicans in next month's elections. The president also said that rage over supreme court nominee brick Cavanaugh will boost GOP turn out New York's attorney general's office has President Trump's charitable foundation repeatedly violated state and federal laws. NPR's Jim zarroli reports at the state filed papers Thursday asking a judge to let a lawsuit against the foundation. Proceed attorney general Barbara Underwood sued the Trump foundation in June. The suit said the foundation had solicited money from donors, and then used it for campaign purposes and to settle legal claims against Trump's company among other things in August. The foundation asked the court to dismiss the suit saying it was motivated by politics in her response Underwood argued that the foundation was misstating the claims against it. And asks that the suit be allowed. To continue. She said the Trump foundation was a show corporation that functioned as a checkbook from which Trump's businesses made payments. Jim zarroli NPR news New York on stock markets in Asia shares are mixed up one percent in Shanghai following a down day on Wall Street. You're listening to NPR news. A Chicago jury has begun deliberating. The fate of the white police officer who fatally shot a black teenager four years ago. A video of the incident was a key part of closing arguments. In the case, the fence attorneys say officer Jason Van Dyke killed the quantum McDonald because he felt threatened when the teenager refused to drop a knife. Prosecutors say the video shows McDonnell was being shot sixteen times while walking away a French rescue team is lost hope of finding life beneath the rubble of a hotel on Indonesia's Sulawesi island sensors detected light there Thursday, but rescuers got no response Friday morning. The disaster claimed more than fourteen hundred lives and displaced tens of thousands others a week later, the BBC's Morocco oil reports that power has been restored. And some shops are open again here in the city as.
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"They've learned to live with some uncertainty Alrighty thank you Jim you're. Welcome that's NPR's Jim zarroli There's a fresh controversy for Facebook yesterday in an interview with. The podcast Recode Facebook CEO Mark. Zuckerberg said holocaust deniers should be allowed to, express their opinion on the social media platform at the end. Of. The, day I don't believe that our platform? Should take down because I think that there are things? That, different people get wrong either I, don't think that they're intentionally getting a. Wrong that statement comes amidst mounting, concerns about Facebook's. Inability to weed out misinformation. NPR's jasmine guards reports Facebook has often stated its mission to create community and expose people to new ideas the problem is some of those ideas, can be deeply offensive you have to tolerate the hate speech if you're. Going, to get, past it what if that doesn't happen professor David she teaches literature at the university of Wisconsin oh Claire he says it's a risky, proposition, that if that doesn't happen what you. Have, is this, preponderance. Of hate. Speech put. Out into The public that causes injury and harm to targeted groups take the case of me on. Mar last year during the row, hanger crisis there were rampant insults against Muslims on social media the United Nations then accused Facebook of contributing to the violence. Facebook has since pledged to remove posts intended to promote physical harm intention is, a key word, for Zuckerberg the difference between, what, offends us and. What is intended to cause violence the social media companies have have largely taken on. The characteristics of a public square and one of the responsibilities. That we expect those who guard the public square is to allow a wide, diversity of views Robert Shibley is the, president of the foundation for individual rights in, education a. Nonprofit for, free speech I think it's human nature for people, to feel uncomfortable when they hear things that that they find objective Moeller offensive or repugnant the. Normal reaction to that throughout all of history is to try to get that. Person to stop doing it but unfortunately it's not, one that is, particularly compatible with having a free liberal democracy. Sticks and stones can break your bones but Facebook posts can never hurt you professor David she. Who teaches, Asian literature says for minorities that have been historically targeted that's far from. True who gets to decide that violence may or may not follow that speech those of us who have minority identities all know, that we might find ourselves in a situation where somebody uses language directed at. Us and we we deeply fear that violence will follow since his comments, aired sucker has clarified that. He does not defend holocaust deniers and Facebook remains committed to stopping this information jasmine NPR news New York This is all things considered, on, WNYC I'm David. I up next a conversation with former press secretary Sean Spicer about why he said President Trump's inauguration broke audience. Records despite, evidence to the contrary and whether the press secretary has an obligation to tell the truth to the American people, WNYC's supporters include New York Presbyterian New York's number. One hospital for the past seventeen years according to the two thousand seventeen eighteen rankings by US news and World Report amazing things are happening here learn more at NY. P..
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"They have. Transformed peaceful parks and beautiful. Quiet neighborhoods into blood, stained schilling feels their animals half of Trump voters. Say they're personally afraid of? The gang MS thirteen but is that fear warranted I feel like if I don't feel threatened in one of the few places in the. US where MS thirteen really as a big presence how is it that half of these voters across, the country think that they are at risk themselves how the president. Has elevated MS, thirteen to the newest big bat I'm tansy Nevada. And this is the takeaway also on the show we wrap up our series on food in, the United States with the cooking prices turns out. Ninety percent of Americans don't like to, do it then you have that kind of situation cooking as a skill starts to disappear from. Many who's all, that and more on the takeaway after these headlines Live from NPR news in Washington I'm Lakshmi Singh President Donald Trump sends eyebrows rising in stock, prices falling and breaking long-standing. Tradition with the Federal, Reserve today NPR's Jim zarroli reports Trump directly address. Fed policy and criticised the? Central bank's decision to raise interest rates the president's spoke in an interview with CNBC portions of which were released ahead of its broadcast Trump. Spoke about fed chairman Jerome Powell saying I put a very good man in the fed but he, said the recent series of interest rate hikes were hurting his attempts. To keep the, US economy faring well I'm not thrilled because you. Know we go up and every time you go up they want to raise rates again and, I don't really I am not happy about it. Trump went on to stress he wouldn't, interfere with fed policy saying I'm letting them do what they feel is best it's very unusual. For presidents to Comment. About fed policy, but, Trump said, I couldn't care less he went on I don't like all this work we're putting into. The, economy and I see rates going up Jim zarroli NPR news New York in a move the conservationists. Argue would accelerate the rate at which endangered wildlife become extinct the administration is considering ending auto Matic protections for threatened animal. And plant species, the interior department is also proposing limiting habitat protections, officials say the new rules simplify and improve how the Endangered Species Act is implemented in congress Senate leaders blocked..
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"To complain that their software has been stolen by a chinese competitor or that they were forced to give up trade secrets in exchange for access to china's lucrative than fast growing markets wendy cutler is former acting deputy at the us trade representative's office cutler says us officials have often complained to beijing about these practices they would say well you know give us examples and we'll take care of them and many of our companies were very reluctant to get that information in fear of retribution and she says when us companies were willing to go on the record with complaints beijing would often brush them aside for his part president trump has promised a much more confrontational approach to china here he was last year announcing an investigation into chinese trade practices for too long this wealth has been drained from our country while washington has done nothing they have never done anything about it but washington will turn a blind eye no longer to wendy cutler the administration's tough approach to china makes a certain amount of sense i applaud them for taking this issue very seriously and i think our approach needed some shaking up but cutler also says trump's approach to trade to speech is probably the wrong strategy right now trump is impose tariffs on imports of steel and aluminum and is renegotiating trade pacts like nafta and cutler says some key the us trading partners have been angered by the administration's actions they're not really in a position to really entice other countries to be very enthusiastic about working with us on china issues that matters because a lot of other industrialized nations including japan and the countries of europe also expressed anger about china's trade practices cutler says a multilateral approach could be the best way to address i p theft but trump's go it alone approach to trade makes that a lot harder to pull off jim zarroli npr news new york.