Economy & Business

Economy & Business
1:00 am
Thu May 23, 2013

Lower Gas Prices Headed Toward Wisconsin

If you can wait a few days, prices may be lower

Gas prices in Wisconsin have been flirting with four-dollars-a-gallon, and those have been some of the highest prices in the country. However, the pain may soon begin easing. During the next few weeks, gas prices here could drop by double digits.

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The Two-Way
6:57 pm
Wed May 22, 2013

Judge: Unredeemed Borders Gift Cards Are Worthless

Customers walk out of Borders on July 22, 2011, in San Francisco, Calif., as the chain began liquidating.
Justin Sullivan Getty Images

Originally published on Thu May 23, 2013 7:34 am

If you were hoping to cash in that Borders gift card for the latest Dan Brown novel — or at least hoping to get some cash for it — you're too late.

A Manhattan federal judge on Wednesday ruled that the bankrupt and defunct book chain owes nothing to the roughly 17.7 million people who hold $210.5 million in unredeemed gift cards.

U.S. District Judge Andrew Carter says it would be unfair to Borders Group's other creditors to let gift-card holders pursue recoveries, Reuters reports:

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Economy
5:40 pm
Wed May 22, 2013

Bernanke: Economy Still Too Shaky To End Low Interest Rates

Transcript

ROBERT SIEGEL, HOST:

You're listening to ALL THINGS CONSIDERED from NPR News.

For those who closely follow decisions made by the Federal Reserve, today's marquee event was the testimony of Fed Chairman Ben Bernanke. He appeared on Capitol Hill before the Joint Economic Committee of Congress. And some lawmakers asked Bernanke about concerns of chaos in the financial markets once the Fed stops pumping money into the economy. NPR's John Ydstie explains.

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Planet Money
3:47 pm
Wed May 22, 2013

Go East, Young Marijuana Dealer

David McNew Getty Images

Originally published on Wed May 22, 2013 5:40 pm

Chuck used to sell marijuana in California. But the legalization of medical marijuana in the state meant he was suddenly competing against hundreds of marijuana dispensaries. So he moved to New York, where marijuana is still 100 percent illegal. Since making the move, he says, he's quadrupled his income. (For the record: His name isn't really Chuck.)

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Can I Just Tell You?
3:30 pm
Wed May 22, 2013

Powerball? America Already Hit The Jackpot

iStock

Finally today, I'm still thinking about that massive Powerball jackpot last weekend. That caused me to think about what's wrong with Powerball — the most important thing, of course, being the fact that I didn't win. You know you feel the same way. I'm sure I would have been a good winner. Like Oprah, I would use my powers for good and not evil. Like, I might buy a Bentley out of the showroom window, just to prove to myself that I could. But then I'd settle down and endow scholarships, and fix up blighted storefronts, and invest in local businesses.

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The Two-Way
10:25 am
Wed May 22, 2013

Bernanke Hints Economy Still Needs Help; Home Sales Rise

Federal Reserve Chairman Ben Bernanke during his Capitol Hill testimony Wednesday before the Joint Economic Committee.
Alex Wong Getty Images

Originally published on Wed May 22, 2013 10:37 am

In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.

The key passage from his prepared testimony:

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Economy & Business
7:57 am
Wed May 22, 2013

Milwaukee Wave Stays Put

The U.S. Cellular Arena will be the Milwaukee Wave's home field for the next two years.

The Milwaukee Wave, the longest running soccer franchise in North America, will play home games at the U.S. Cellular Arena for the next two years.

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Business
6:12 am
Wed May 22, 2013

Qantas Airlines To Offer In-Flight Books

Originally published on Wed May 22, 2013 8:29 am

Transcript

DAVID GREENE, HOST:

And our last word in business on this Wednesday is: Mile High Book Club.

LINDA WERTHEIMER, HOST:

We're talking about an in-flight library offered by the Australian airline Qantas.

GREENE: They will still have movies on the plane, that right, Linda?

WERTHEIMER: Yes, David. But Qantas is telling passengers who want to read that they can ditch their Kindles and settle in with a paperback.

(SOUNDBITE OF AD)

(SOUNDBITE OF MUSIC)

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Business
6:08 am
Wed May 22, 2013

Earning News Sends Home Depot Stock Higher

Originally published on Wed May 22, 2013 8:29 am

Transcript

LINDA WERTHEIMER, HOST:

NPR's business news starts with Home Depot raising the roof.

Home Depot got a boost from the housing recovery in its first-quarter net income. It rose 18 percent; that exceeds expectations. The company acknowledged yesterday that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.

Home Depot's stock price rose by 2.5 percent with the news. Transcript provided by NPR, Copyright NPR.

Business
5:47 am
Wed May 22, 2013

Microsoft Unveils Its new Xbox One

Originally published on Wed May 22, 2013 10:04 am

Transcript

LINDA WERTHEIMER, HOST:

The wait is over for many Xbox fans. Yesterday, Microsoft unveiled its next generation Xbox gaming console. It's called Xbox One. It's the first major revamp of the gaming system since 2005. In our business bottom line, NPR's Laura Sydell reports the new Xbox is designed to be an all-in-one system, an entertainment hub for movies, TV and games that should appeal as much to grandparents as it does to children.

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