John Ydstie

Is Obamacare Hurting Hiring By Small Businesses?

John Ydstie — Thu, 06 Jun 2013 09:19:00 +0000

The Affordable Care Act, which has become known as Obamacare, will require small businesses with 50 or more employees to offer health care coverage to their workers. Some have suggested that could be discouraging hiring by small businesses.

Mired In Recession, E.U. Eases Some Austerity Measures

John Ydstie — Fri, 31 May 2013 10:11:00 +0000

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This is MORNING EDITION from NPR News. I'm Renee Montagne.

While there are many signs that the American economy is picking up steam, in much of the European Union, the opposite is true.

When Will Fed Officials Ease Off The Accelerator?

John Ydstie — Thu, 23 May 2013 08:48:00 +0000

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DAVID GREENE, HOST:

NPR's business news starts with some of the shine off the stock market.

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GREENE: OK, after a big run up in prices, global stock markets stumbled today. Japan's Nikkei dropped more than seven percent. European markets are down two to three percent, and here in the United States the Dow and S&P averages are both down less than one percent. One reason for all this investors selling analysts say, is new indications from the U.S. Federal Reserve and Fed Chief Ben Bernanke about a pull back in quantitative easing.

Apple CEO Defends Tax Practices At Senate Hearing

John Ydstie — Tue, 21 May 2013 21:43:00 +0000

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The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes.

CEO Cook To Defend Apple Before Senate Committee Hearing

John Ydstie — Tue, 21 May 2013 08:24:00 +0000

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S.

Obama Names OMB Controller As Acting IRS Commissioner

John Ydstie — Fri, 17 May 2013 09:25:00 +0000

On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.

Yen's Drop In Value Could Fuel Curency War

John Ydstie — Thu, 16 May 2013 08:24:00 +0000

Transcript

STEVE INSKEEP, HOST:

Japan's economy is finally getting a lift. The stock market is soaring there. Companies like Toyota and Sony are seeing a surge in profits. And today, Japan's government reported the economy grew a three-and-a-half percent annual rate in the first three months of the year, a significant improvement.

Now, the government has prodded growth by causing the value of the currency, the yen, to decrease against other currencies like the dollar. That affects the price of everything Japan buys and sells - for example, dropping the price of Japanese exports.

Housing Recovery Lifts Other Sectors, Too

John Ydstie — Thu, 02 May 2013 21:27:00 +0000

The government's employment report for April comes out Friday. It's an important measure of the economy's health and the advance signals have been mixed. One report this week showed layoffs falling to a five-year low, but another suggests disappointing jobs creation.

At least one sector is providing some positive news for the job market: housing.

It was only a year or so ago that housing was a big drag on the economy, and the main reason for the disappointing recovery. But that's changed. Jim O'Sullivan, chief U.S.

Regulators Warn Banks On Direct-Deposit Loans

John Ydstie — Thu, 25 Apr 2013 22:05:00 +0000

Consumer advocates call them "debt" traps. The banks that offer them call them direct-deposit advances and describe them as available funds for short-term emergencies.

But the cash advances have many of the negative characteristics of payday loans. And on Thursday, U.S. bank regulators took a step toward protecting consumers from the risks they pose.

Japan's Big Stimulus Move Shocks Globe's Market Watchers

John Ydstie — Thu, 11 Apr 2013 21:49:00 +0000

Currency traders were stunned last week by aggressive action from Japan's central bank. The Bank of Japan embarked on a bond-buying program that, by one measure, is twice the size of the extraordinary moves by Ben Bernanke and the Federal Reserve in the United States. The BOJ's move is an effort to shock the Japanese economy out of more than a decade of sluggish growth and deflation.

Jens Nordvig, global head of currency strategy at Nomura Securities, was one of many market watchers surprised by the strength of the Bank of Japan's move.

Census Bureau: Americans Burdened By High Debt

John Ydstie — Fri, 22 Mar 2013 08:49:00 +0000

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with high debt and low wealth.

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INSKEEP: Since the financial crisis, many Americans have been saving money and paying down debt. Many are in better financial shape than a few years ago.

Odd Political Bedfellows Agree: Banks Still Too Big To Fail

John Ydstie — Tue, 19 Mar 2013 22:04:00 +0000

Amid Washington's dysfunction, one issue has united some liberal Democrats and conservative Republicans: a common concern that "too big to fail" is alive and well.

Despite the Dodd-Frank financial reforms, these lawmakers believe the nation's largest banks still pose a threat to the economy and that the government will step in to bail them out if they get in trouble.

At a recent hearing on Capitol Hill, Sen. Elizabeth Warren, D-Mass., confronted Federal Reserve Chairman Ben Bernanke with her concerns. "We've now understood this problem for nearly five years," she said.

Time For The Fed To Take Away The Punch Bowl?

John Ydstie — Wed, 06 Mar 2013 22:58:00 +0000

The stock market's long climb from its recession bottom has some people concerned it may be a bubble about to burst — a bubble artificially pumped up by the Federal Reserve's easy-money policy. That's led to calls — even from within the Fed — for an end to the central bank's extraordinary efforts to keep interest rates low.

Even as the Dow Jones industrial average was reaching its nominal record Tuesday, Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, continued his criticism of the central bank's massive intervention, calling it unhealthy.

Economists Debate Sequestration's Effect On Economy

John Ydstie — Fri, 01 Mar 2013 10:16:00 +0000

The Congressional Budget Office estimates the automatic budget cuts that go into effect Friday will shave 0.6 percent from the economy's annual growth rate. That might not be a big worry if the economy were growing at 3 or 4 percent. But growth is a paltry 2 percent, so the impact may be noticeable.

Bernanke Defends Fed's Stimulus Policy Of Low Interest Rates

John Ydstie — Tue, 26 Feb 2013 22:20:00 +0000

Federal Reserve Chairman Ben Bernanke defended the Fed's easy-money policies on Tuesday, saying the benefits outweigh the risks. He also urged Congress to avoid the sharp spending cuts that are set to take effect Friday.