NPR Topics: Business

NPR Topics: Business
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Pope Predicted Current Market Collapse In 1985
Italy's Finance Minister says Pope Benedict predicted the current financial crisis more than 20 years ago when he was Cardinal Ratzinger. It was in a paper presented at a conference in 1985 called "Market Economy and Ethics." The future pope said a decline in ethics "can actually cause the laws of the market to collapse."
Lending Stalls, Banks On Sidelines
Stock prices are at six-year lows. Over the past two days the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet.
Sen. Dodd Frustrated By Banks' Use Of Funds
Christopher Dodd, chairman of the Senate Banking Committee, says he's frustrated with how banks are using funds provided by the government. He also thinks the Treasury Department has been too slow in addressing the mortgage crisis. Dodd tells Steve Inskeep that Congress may have to reconsider some parts of the rescue plan it approved.
Will Credit Rating Agencies Be Monitored?
The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given triple-A ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything?
Congress Gives Automakers Homework
Lawmakers considering a $25 billion aid package for the auto industry made getting a plan from carmakers a condition for getting the money. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid say if there's a viable plan, Congress might return to work in early next month for a vote.
Car Battery Needs To Keep Going And Going
One of the buzzwords at the Los Angeles Auto Show is "electrification." It's a future where cars run solely on battery power. Paul Eisenstein of emThe Detroit Bureau,/em an independent auto news service, says that future is still a ways off. He tells Steve Inskeep that for electric cars to succeed, they'll need a battery that lasts for more than 100 miles before a recharge.
Cobalt Location A Problem For Lithium-Ion Batteries
A rush to build electric cars could also mean a rush to get minerals that are produced in unstable parts of the world. Lithium-ion batteries require large amounts of cobalt, which comes primarily from the war-torn Democratic Republic of Congo, Tibet and Siberia. Easing dependence on foreign oil could mean increasing dependence on foreign minerals mdash; from even less reliable trading partners than the Persian Gulf states.
Citigroup Weighs Company's Options
The financial crisis is closing in on Citigroup. The banking colossus has more than 200 million customers around the world. But investors are increasingly worried about Citigroup's financial condition. Its share price tumbled more than 25 percent Thursday. CEO Vikram Pandit is weighing his options, and they include selling off parts of the company or selling the whole company. Citigroup lost half its value this week and is trading at levels not seen since the mid 1990s.
Oil Prices Hovering At 3-Year Low
Oil prices dipped below $50 a barrel Thursday. While that may sound like pleasant news, the low price is actually a symptom of a weak economy.
Wall Street Too Real? Try Fantasy Investing
There are all kinds of fantasy games mdash; fantasy football for example. Now you can try your hand at fantasy investing. Fantasy enthusiasts say there's never been a better time to go virtual.
Bush Hits Deadline For 'Midnight Regulations'
There are now 60 days left until President Bush leaves office and President-elect Barack Obama is sworn in. By law, there is a 60-day waiting period before any big, new federal regulations take effect. That means Friday is the deadline set by the Bush administration to get rules onto the books before the Democrats arrive.
Congress Stalls Automakers' Bid For Relief
After the Big Three auto executives spent two days seeking support on Capitol Hill for a bailout, the grand finale is no finale at all. Democratic leaders say they are delaying a vote until the auto companies present a plan showing how they will restructure their business.
GM, Chrysler Keep Low Profile At L.A. Auto Show
Amid job cuts, restructuring and pleas to Congress for financial aid, General Motors and Chrysler are represented, but not making much of a splash, at this week's Los Angeles Auto Show.
Addressing The Threat Of Deflation
As central banks continue to slash interest rates almost to zero, prices can plummet. It creates a liquidity trap, as it did in the 1930s and in Japan during the 1990s. Harvard economist Kenneth Rogoff outlines what deflation could mean for modern America.
Restored Fontainebleau Graces Miami Beach
The Fontainebleau Hotel was once the height of Miami Beach sophistication. Now the hotel will reopen after a $1 billion renovation, but it's not clear the Florida economy is ready to support it.

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