NPR (Economy)
The Mortgage Deal: A Reality Check
The $26 billion settlement reached by the federal government, most states and the nation's largest banks to compensate homeowners for abusive foreclosure practices is unlikely to end the housing crisis, analysts say. It could also lead to a new round of foreclosures, which would drive prices even lower.
PepsiCo Says It Will Cut 8,700 Jobs Worldwide
The announcement comes as the company announced a fourth-quarter income of $1.4 billion.
Study: Young People Hardest Hit By Poor Job Market
Audie Cornish speaks with Kim Parker, Associate Director with Pew Social & Demographic Trends and lead study author about the new Pew report on record high youth unemployment statistics. The study found that negative trends in the labor market have hit 18-34-year-olds the hardest.
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Foreclosure Deal To Help Underwater Homeowners
Government officials have worked out a deal with the nation's five big banks to settle state and federal investigations of alleged foreclosure abuses. Banks would have to pay $5 billion in cash and another $20 billion in loan modifications under the terms of the deal.
Study: Young People Hit Hardest By Poor Labor Market
Audie Cornish speaks with Kim Parker, Associate Director with Pew Social & Demographic Trends and lead study author about the new Pew report on record high youth unemployment statistics.
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Foreclosure Deal To Help Underwater Homeowners
Government officials have worked out a deal with the nation's five big banks to settle state and federal investigations of alleged foreclosure abuses. Banks would have to pay $5 billion in cash and another $20 billion in loan modifications under the terms of the deal.
Foreclosure Deal May Mean More Foreclosures This Year
Foreclosures slowed as big banks waited for the details of the settlement to become clear. Now, they're likely to pick up the pace.
Jobless Claims Near 4-Year Low As Hiring Picks Up
Weekly applications for unemployment benefits fell 15,000 to a seasonally adjusted 358,000. That's the second-lowest level since April 2008. A consistent decline in applications has coincided with the best job growth since last spring.
Jobless Claims Drop By 15,000
At 358,000, first-time claims for unemployment insurance were the lowest they've been since March 2008. The report is the latest of several recent signs that the labor market is gaining some strength.
Settlement Reached With Banks On Relief For Some Homeowners
Officials have been pressing five banks to offer mortgage relief and some financial aid to homeowners who got crushed when the housing bubble burst or were caught up in the "robo-signing" scandal that sped up the foreclosure process.
N.Y., California To Sign Mortgage Settlement
Bank of America, J.P. Morgan Chase, Wells Fargo, Citibank and Ally Financial agreed to the settlement for lowering homeowners' mortgage principal, refinancing, a reserve account, and checks to homeowners.
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Potential Conflicts At Freddie Mac Draw Scrutiny
A federal watchdog confirmed it is looking into Freddie Mac investments that act as bets against homeowners being able to refinance. In addition, U.S. senators are expected to probe Freddie Mac's investment practice at a hearing on Capitol Hill on Thursday.
What Do The Dow's Daily Swings Mean? Not Much.
Even the guy in charge of the Dow doesn't check it every day. Yet we're constantly bombarded by news of the Dow's daily movements.
China's Demolition Derby Turns History Into Rubble
Historic buildings in Beijing are being demolished in the pursuit of quick profit. Even the home of the architect who urged Mao Zedong to preserve Beijing's old city has fallen to the wreckers' ball, sparking considerable outrage. And the epidemic of destruction is spreading to new buildings, too.
States Debate Foreclosure Robo-Signing Settlement
California, New York and a handful of other states have yet to sign on to a deal with mortgage lenders that would resolve the "robo-signing" issue. Lenders have pledged $25 billion to reduce outstanding mortgages, but some states say the deal doesn't go far enough to protect consumers.
Obama Shifts His Position On Super PACs
President Barack Obama's campaign has urged top donors to support a super PAC run by former Obama aides. The president previously called the fundraising groups a "threat to democracy." The Center for Responsive Politics' Sheila Krumholz discusses the shift and NPR's Ken Rudin reviews the week in politics.
Keeping Your Resume Out Of Online 'Oblivion'
Many mid- and large-sized companies rely on computerized systems to scan resumes and narrow the field of job candidates. Some tracking software may overlook qualified applicants who haven't used the right keywords. The Wall Street Journal's Lauren Weber explains what it takes to get noticed.
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Finding 'Life, Death And Hope' In A Mumbai Slum
Pulitzer Prize-winning journalist Katherine Boo spent more than three years in Mumbai's Annawadi slum. In her new book, Behind the Beautiful Forevers, she profiles people living in extreme poverty — right in the shadow of luxury hotels.
To Get Bailout, Greece Must Reduce Minimum Wage
The European Union and the International Monetary Fund say this will make the Greek labor market more competitive and ultimately boost growth. At one time, strong unions pushed aside a weak business lobby to secure government guarantees of high salaries including the minimum wage.
Labor Law Change May Offer Relief For Spain's Youth
In Spain, the jobless rate for 20-somethings is a staggering 50 percent. This week, the government is expected to announce plans to overhaul the country's two-tier labor system in an effort to help the so-called "ni ni" generation — Spanish for those neither in school nor working.
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