Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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Business
5:54 pm
Tue November 19, 2013

JPMorgan, Feds Finalize Record $13 Billion Mortgage Settlement

A long-awaited deal between JP Morgan Chase and the Justice Department was finalized Tuesday. The bank — one of Wall Street's largest — agreed to pay a total of $13 billion to resolve a number of legal issues stemming from mortgage securities sold in the run-up to the financial crisis.

Business
4:50 am
Fri November 15, 2013

Health Care Cancellation Cure Could Lead To Higher Premiums

Originally published on Fri November 15, 2013 10:49 am

The health care fix announced by President Obama on Thursday may be good news for some consumers, but it creates a big headache for insurance companies and regulators. An insurance industry trade group warns the last-minute change could destabilize the market and lead to higher premiums.

Around the Nation
5:01 pm
Wed November 6, 2013

New Jersey Votes To Increase Minimum Wage

Originally published on Wed November 6, 2013 6:21 pm

Transcript

MELISSA BLOCK, HOST:

New Jersey Governor Chris Christie is celebrating an impressive reelection victory but he also suffered a defeat. Voters handily approved a measure to raise the state's minimum wage. That's a measure Christie had opposed.

As NPR's Jim Zarroli reports, New Jersey is the fifth state this year to raise the minimum wage.

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Business
4:42 am
Wed November 6, 2013

Sprecher Slams High-Speed Electronic Exchanges

Originally published on Wed November 6, 2013 5:26 am

The CEO of the firm that's about to take over the New York Stock Exchange has criticized alternative market trading. Jeffrey Sprecher said equity markets, including the NYSE, allow sophisticated traders to take advantage of small investors. He added such models are destined to fail and that people outside the markets have a sense things aren't fair.

Business
4:44 am
Wed October 9, 2013

Treasury Officials Mull Credit Default Solutions

Originally published on Wed October 9, 2013 5:44 am

The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.

Law
4:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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Business
3:46 am
Thu September 12, 2013

5 Years After Financial Crisis, Are Big Banks Still A Threat?

The headquarters of Lehman Brothers in Times Square in 2008, the year the financial services firm filed for bankruptcy.
Hiroko Masuike Getty Images

Originally published on Thu September 12, 2013 11:30 am

It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.

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Business
4:21 am
Fri August 23, 2013

Wal-Mart Promises To Buy More U.S.-Made Goods

Originally published on Fri August 23, 2013 7:25 am

After decades supplying the American consumer with every import imaginable, Wal-Mart now says it wants to stock its shelves with more goods made in the U.S. In Orlando Thursday, the giant retailer sponsored a conference aimed at encouraging U.S. companies to bring their production back home.

Business
5:27 am
Wed August 21, 2013

U.S. Retailers Vow To Upgrade Bangladesh's Safety Standards

Originally published on Wed August 21, 2013 12:03 pm

Transcript

RENEE MONTAGNE, HOST:

Some of America's biggest retailers announced new steps yesterday aimed at improving safety standards in Bangladesh's troubled garment industry. Wal-Mart and the Gap were among the companies that formed a group called the Alliance for Bangladesh Worker Safety after the deadliest accident ever in the garment industry.

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Law
5:27 pm
Wed August 14, 2013

Former JPMorgan Chase Traders Charged Over 'White Whale' Bets

Originally published on Fri August 16, 2013 8:40 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Federal prosecutors have charged two former JPMorgan Chase traders with securities fraud. The two men worked in London. And they are part of the so-called London Whale case, which cost the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting lawsuits. More from NPR's Jim Zarroli.

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Parallels
3:08 am
Mon August 12, 2013

Too Much, Too Fast: China Sees Backlash From Massive Growth

Originally published on Mon August 12, 2013 11:25 am

At a time when much of the world is mired in economic torpor, China still enjoys enviable growth rates. Yet there's no question that its economy is growing more slowly these days.

Just ask Yan Liwei, a salesman for a construction materials company, who was visiting a park in Shanghai this weekend.

"The number of new construction projects is declining somewhat. It's taking longer for many of our clients to pay us what they owe," Liwei says. "Many small and midsized developers are feeling a cash crunch."

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Business
4:42 am
Wed July 17, 2013

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 5:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

Law
4:17 pm
Mon July 15, 2013

Former Goldman Sachs Vice President Goes On Trial

Originally published on Mon July 15, 2013 6:17 pm

Three years ago the Securities and Exchange Commission filed civil charges against Goldman Sachs and one of its traders, Fabrice Tourre. They were charged with misleading investors over mortgage-backed securities. Goldman settled and agreed to pay $550 million. Tourre's trial began Monday in a Manhattan court room.

Business
5:31 am
Tue July 9, 2013

Alcoa Kicks Off Earnings Season

Originally published on Tue July 9, 2013 5:56 am

Over the next few weeks, thousands of U.S. based publicly traded corporations will be reporting their quarterly results. Within days though, judgments will start to be made on whether the economy is holding up well enough to justify stock prices that are approaching a new peak. Alcoa says it lost more money than expected during the second quarter of this year because of restructuring costs.

Economy
2:28 am
Mon July 1, 2013

Alabama County Files Plan To Exit Bankruptcy

Originally published on Mon July 1, 2013 10:57 am

Alabama's bankrupt Jefferson County has filed a 101-page plan that would force creditors to lose up to 70 cents on the dollar.

In 2011, the county underwent what's been called the largest government bankruptcy in U.S. history. It's in debt by about $4.2 billion.

Because of combination of corruption and poor management, the municipality was unable to repay money it borrowed to upgrade its sewage system.

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