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Business news

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Donna Tam

New Orleans prosecutors will soon be able to search through police body camera footage for specific people or incidents, cutting down on the time required to comb through hours of video.

The Orleans Parish District Attorney’s office is adopting a technology that organizes footage by analyzing video frames for faces, text and audio, and tags and adds time stamps to the files’ metadata, the company behind the technology announced Thursday.

On today's show, we'll talk about economic uncertainty and the Fed's future plans; the popularity of messaging app Line; and India's relationship with gold. 

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Tony Wagner

The emoji-friendly messaging company Line started trading on the New York Stock Exchange Thursday morning, opening at $42 a share— nearly 30 percent more than its initial offering of $32.84.  It closed at $41.58, giving it a market value of around $8 billion. 

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Lane Wallace

New foreclosure data out Thursday from research firm RealtyTrac show foreclosures are down, but there are still some rough spots. The first six months of 2016 saw 11 percent fewer filings than the same period last year, and the month of June saw a 10-year low.

Gold's popularity in India

Jul 14, 2016

Whether it's at weddings, festivals or religious ceremonies, gold is extremely popular in India. It's thought that about 20,000 tons are stashed away in homes, businesses and temple vaults. Now the government is offering incentives to get some of that gold back into the economy. 

Click the above audio player to hear the full report from the BBC's Shilpa Kannan.

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Reema Khrais

When we talk about rising inequality, we typically think about the rich getting richer and the poor getting poorer. But a new report from McKinsey Global Institute points to another grim reality: an increasing proportion of today’s younger generation is at risk of ending up poorer than their parents.

Between 2005 and 2014, up to 70 percent of households in advanced economies had flat or falling incomes, according to the report. That compares with less than 2 percent of households in the previous decade.

It's that time again: the Fed's Beige Book is out

Jul 13, 2016
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Kai Ryssdal

No joke one of my favorite days of the economic year because the Fed came out with the Beige Book today — its eight-times-a-year regional breakdown of the U.S. economy.

Here, courtesy of the Real Time Economics blog at Wall Street Journal, are some of the highlights.

From the Boston Fed this quote:

Stock buybacks break records, prop up markets

Jul 13, 2016
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Sabri Ben-Achour

The first quarter of 2016 saw more stock buybacks than at any time since late 2007, just before the recession - $166 billion dollars worth according to research firm Factset. The controversial practice is used to drive up a company’s stock prices, but some argue it is done at the cost of a company’s long-term health and rewards shareholders over all other stakeholders in a company. 

Click the audio player above to hear the full story.

Negative yields may be good for U.S. borrowers

Jul 13, 2016
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Donna Tam

Germany’s historic sale of 10-year bonds at a negative yield Wednesday reflects the economic turmoil in Europe and elsewhere, but it could also stimulate demand for U.S. treasuries.

America is rigged, Trump says. Many of you agree.

Jul 13, 2016
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Marketplace

During a late night appearance on “The O’Reilly Factor” Tuesday night, presumptive Republican nominee Donald Trump claimed that the American system is “rigged.”   

“Well, I’ve been saying, even against me the system is rigged. When I ran for president, I mean, I could see what was going on with the system, and the system is rigged,” Trump said.

 

A potential Italian crisis on our hands

Jul 13, 2016

On today's show, we'll talk about Italy's economic issues, which include high unemployment; a new class of generic drugs that could save us billions; and Ireland's 26.3 percent GDP growth.

IMF cuts Italy's growth forecasts

Jul 13, 2016
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Gigi Douban

The International Monetary Fund has knocked down its economic growth projections for Italy, putting it below 1 percent for this year, and projecting it will hover at about 1 percent in 2017. Italy’s looking at two decades’ worth of lost growth, according to the IMF. The country faces challenges on several fronts: a government debt that’s nearly 133 percent of GDP and high unemployment, to name a few. A long road to recovery doesn’t even begin to tell the story. 

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D Gorenstein

Europe is home to a growing class of generic drugs, called "biosimilars," that can treat conditions like cancer and rheumatoid arthritis.

While folks on that side of the Atlantic have about 20 of these new generics on the market so far, the Food and Drug Administration has just approved two in the U.S.

Are people taking Pokemon Go too far?

Jul 12, 2016
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Kai Ryssdal

A quick follow to our story about Pokemon Go yesterday.

We told you people are basically playing that game everywhere.

Well, from the Marketplace Desk of Too Much of a Good Thing these updates:

The National Highway Traffic Safety Administration is warning people not to play the game while driving:

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Kim Adams

Senator Bernie Sanders endorsed former Secretary of State Hillary Clinton for President on Tuesday. Of course, she'd already racked up enough delegates weeks ago to clinch the nomination — technically, anyway.  

But that doesn't mean Sanders doesn't have something Clinton still needs.  

How Helen Gurley Brown made sex profitable

Jul 12, 2016
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Kai Ryssdal

It's a very long way from the Ozark mountains of Arkansas to the top ranks of the publishing world in Manhattan. But it's a distance Helen Gurley Brown made, although not without some bumps along the way. She eventually became a best selling author, a feminist icon, and a very successful business woman.

China rejects South China Sea ruling

Jul 12, 2016

On today's show, we'll talk about China's rejection of a ruling on its claims over the South China Sea; JPMorgan Chase's decision to give 18,000 employees a bump in pay; and President Barack Obama's health care legacy.

 

Medium-sized raises at a big bank

Jul 12, 2016
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Lane Wallace

JPMorgan Chase CEO Jamie Dimon published an op-ed in Tuesday’s New York Times announcing that 18,000 JPMorgan Chase employees will see pay raises in the next three years.

The bank’s minimum wage will go from $10.15 up to a range of $12 to $16.50 an hour.

Bicycle classes help Maine refugees get around town

Jul 12, 2016
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Caroline Losneck

Riding a bike, for some people, is strictly recreational. For others, it’s a necessity.

If you don’t own a car, either because it’s cost-prohibitive, or because your immigration status – like being undocumented or an asylum seeker – creates a lengthy wait for a license, bicycling can be both a necessity and fun.

Obama's hopes for the future of health care

Jul 12, 2016
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D Gorenstein

The crowning achievement of President Barack Obama’s presidency is the Affordable Care Act.

It’s the most comprehensive health reform since Medicare became law in 1965.

As he looks towards his legacy, in a new article in the Journal of the American Medical Association, the president acknowledged the work is not yet done and laid out a path forward.

Since the start of Obamacare, 20 million more Americans have insurance.

A new idea for New York restaurants

Jul 12, 2016
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Sally Herships

If you’re in the real estate business, then you know that urban space can fetch a premium. But in cities like New York, the problem often is that there isn’t much space available. So what’s a developer to do? Get creative and look for more efficient ways of using space that may have been overlooked. 

Entrepreneur Preston Pesek's specialty is using real estate efficiently. There was a project with Yoga studios. 

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JaeRan Kim

As protests continue over the recent police killings of black men in Falcon Heights and Baton Rouge, so do efforts to raise bail for those arrested during protests.

Crowdfunding sites for jailed protesters in both cities have collected more than $256,000 as of Tuesday morning. The majority of the funding has been raised by the Louisiana chapter of the National Lawyers Guild.

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Donna Tam

The popularity of Nintendo’s new Pokémon Go game has added more than $7 billion to the gaming company’s market value, but it’s also proving valuable for savvy mom and pop businesses.

Why Pokemon Go is sending Nintendo's stocks soaring

Jul 11, 2016
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Sabri Ben-Achour

There are fads, there are crazes, and then there’s Pokemon Go. 

The game last week became the top downloaded, top grossing app in the U.S., New Zealand, and Australia.  

It’s installed on as many Android phones as Tinder.  It has pretty much as many daily active users as Twitter.

If you aren’t playing Pokemon Go right now, someone near you is. 

Look for someone frozen, holding their phone up in front of their face, wildly sliding their fingers on the screen.

How trade and technology changed the textile industry

Jul 11, 2016
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Tracey Samuelson

Gloria Craven has seen lots of politicians come through North Carolina.

“I met John Edwards, Elizabeth Dole come in,” she said, rattling off a list of names that also included former North Carolina Congressman Brad Miller and former North Carolina Senator Kay Hagan.

But the biggest of them all? Craven pulled a stack of photos of then-candidate Barack Obama from a plastic bag on the floor by her couch. 

“That was 2008, he didn’t have that grey hair yet,” she joked.

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Donna Tam

Electronic Arts announced Monday that its war-themed franchise "Battlefield" will soon be a television series, according to The Hollywood Reporter.

What's going out there in the 'real' economy?

Jul 11, 2016

On today's show, we'll talk about the big economic picture following the release of Friday's jobs numbers; the open warfare between hotels and online agencies over your travel dollars; and the risky journey migrants are making to enter the U.S.

Mixed martial arts outfit UFC to sell for $4 billion

Jul 11, 2016
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Lane Wallace

A group of investors is planning to spend a whopping $4 billion on the Ultimate Fighting Championship, the company that’s made sometimes-brutal mixed martial arts into a popular form of entertainment.

The deal was signed over the weekend and confirmed Monday.

UFC has been around for 23 years, and in 2001 the current owners bought it for just $2 million.

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JaeRan Kim

Money Magazine has released its annual “Best Colleges for Your Money” list. It ranks schools on dozens of criteria — chiefly, how attending them will hit your bank account and how quickly you’ll make it back afterwards.

Princeton topped the bang-for-your-buck list this year. It hands out lots of grants, and on average, its alums are among the highest paid. Stanford, No. 1 last year, came in 10th. Babson College fell from second to below the top 50.

Why? The magazine tweaked its methodology.

Hotels and online travel sites battle on discounts

Jul 11, 2016
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Annie Baxter

Online travel agencies like Expedia, Travelocity and Priceline have grown in influence in recent years. For some consumers, they're a key way to discover hotels, and they can help hotels out by removing the burden of managing reservation systems and marketing.

"They do a great job at marketing. Everyone sees the commercials," said Robert Mandelbaum of CBRE Hotels' Americas Research. 

Online travel agencies currently capture about 15 percent of U.S. hotel bookings, according to Cindy Estis Green at the market research firm Kalibri Labs.

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