Spiraling Health Care Costs Stagnate Job Growth October 31, 2003 • Even though this week's Commerce Department report shows the U.S. economy grew at an annual rate of more than 7 percent in the third quarter, 41,000 more jobs were lost. The rapidly increasing cost of health care benefits is making some employers hesitant to take on more full-time workers. NPR's Elaine Korry reports.
Crackdown on Oil Tycoon Unnerves Russian Market October 30, 2003 • Russia freezes jailed oil tycoon Mikhail Khodorkovsky's stock in the Yukos oil giant. The move blocks Khodorkovsky from selling his controlling stake in the nation's largest company. Russia's stock market dips sharply on the news that officials had seized control of 53 percent of Yukos. NPR's Lawrence Sheets reports.
Economy Surges in Third Quarter October 30, 2003 • Initial reports indicate the Gross Domestic Product rose at an annual rate of 7.2 percent for the third quarter -- a much stronger showing than anticipated. That's the most robust growth rate in nearly 20 years. Economists say the jump is evidence that the U.S. economy is on the rebound. Hear NPR's Jim Zarroli.
Regulators Eye Fees for High-Speed Phone Service October 30, 2003 • High-speed Internet connections such as DSL or cable allow people to bypass the local telephone company and get unlimited local and long-distance calling from broadband phone companies. The service is cheaper than traditional phone service. But regulators are likely to require these broadband companies to pony up the fees that traditional phone companies now pay. Jon Kalish reports.
Jury Watches Tyco Chair’s Party Tapes October 28, 2003 • The trial of former Tyco chairman Dennis Kozlowski on Tuesday focuses on a lavish weeklong party Kozlowski threw for his wife. Jurors watch a videotape of the $2 million party, which prosecutors say Tyco money at least partly paid for. Kozlowski is charged with improperly using Tyco funds to enrich himself and others. Hear NPR's Jim Zarroli.
Putnam Investments Charged with Fraud October 28, 2003 • State and federal civil fraud charges are filed against Putnam Investments, the nation's fifth-largest mutual fund company. Regulators say Putnam allowed senior fund managers to siphon money from funds they supervised. The suits also allege that the firm failed to prevent improper trading by some investors from a trade union. NPR's Chris Arnold reports.
Sony Cuts 20,000 Jobs Worldwide October 28, 2003 • Japanese electronics and entertainment giant Sony announces that it's eliminating 20,000 jobs over the next three years. Most of the cuts will be outside Japan. Hear Leo Lewis, Tokyo correspondent for the Times of London.
U.S. Tobacco Giants Plan Merger October 28, 2003 • Two of the nation's largest tobacco companies are merging. RJ Reynolds will join with Brown and Williamson to create the country's second-largest cigarette manufacturer. NPR's Adam Hochberg reports.
Bank of America to Acquire FleetBoston in Merger October 27, 2003 • Bank of America is buying FleetBoston Financial, a major New England regional bank, for $47 billion. The acquisition would make Bank of America the second-largest financial institution in the nation, and analysts say it could signal a return to big mergers on Wall Street. Hear NPR's Chris Arnold.
Bank of America to Buy FleetBoston October 27, 2003 • North Carolina-based Bank of America announces plans to buy FleetBoston Financial Corp. The merger will create the second-biggest bank in the United States with approximately 33 million customers. Hear NPR's Jack Speer.
Economists Mixed on Looming Growth Report October 27, 2003 • The U.S. Commerce Department issues a report the week on the nation's gross domestic product. It's expected to show strong economic growth during the third quarter. Some analysts will see the report as a sign that the U.S. economy has fully recovered but some economists warn unemployment remains a problem. NPR's Jim Zarroli reports.
Brawney Man October 27, 2003 • Georgia Pacific, the maker of lumber and paper products, unveils a new poster boy for its Brawny paper towels. NPR's Bob Edwards reports that this brawny man has a softer side.
Minnesota Farmers Fear Stricter Cuba Trade Rules October 26, 2003 • Minnesota farmers worry that heightened tensions between the Bush administration and Cuba will result in tighter restrictions on trade with the island. The state's farmers have been selling agricultural products to Cuba since restrictions on the embargo were eased in 2001. Rob Schmitz of Minnesota Public Radio reports.
Ecuadorian Environmentalists Sue ChevronTexaco October 26, 2003 • U.S. petroleum giant ChevronTexaco is on trial in Ecuador in a lawsuit filed on behalf of 30,000 Ecuadorians. The company, which halted operations in the Amazon jungle a decade ago, is accused of poisoning groundwater during 20 years of drilling. Hear NPR's Martin Kaste.
Book Tracks Enron's Rise and Fall October 25, 2003 • The new book The Smartest Guys in the Room follows the failed energy giant Enron through its remarkable ascendancy and steep plunge into bankruptcy. Hear NPR's Scott Simon, co-author Bethany McLean and the book's editorial director, Joe Nocera of Fortune magazine.