Business

The prime minister of Algeria is defending his government's response to last week's attack on a natural gas plant that left 37 hostages dead. He says the Islamic militants who were behind the attack planned to blow up the facility and would have killed a lot more people if they hadn't been stopped.

The attack happened at a huge, internationally operated facility in the Sahara. And it underscores the dangers that energy companies face when they do business in politically unstable places.

Though they dipped 1 percent in December from the month before, 2012 was the best year since 2007 for sales of existing homes, the National Association of Realtors reports.

It estimates that 4.65 million previously owned homes were sold last year, up 9.2 percent from 2011 and the most since 2007's 5.03 million.

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And today's last word in business is: Who do you trust with your money?

(SOUNDBITE OF SONG, "MONEY")

PINK FLOYD: (Singing) Money, get away. Get a good job with more pay and your OK.

INSKEEP: Any excuse to play Pink Floyd. A new ranking suggests which industries consumers trust. And for the third year in a row, the industry consumers trust the least is the industry that you pretty much have to trust with your money.

DAVID GREENE, HOST:

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NPR business news starts with global unemployment figures.

(SOUNDBITE OF MUSIC)

INSKEEP: We usually focus on American unemployment, which has been going down. But world unemployment may hit record levels this year, according to an annual report by the International Labor Organization, which is forecasting that up to 202 million people who won't work will be out of work around this world this year.

DAVID GREENE, HOST:

One of President Obama's gun control proposals appears to have widespread support — universal background checks for gun purchases. Some experts on mental health and gun violence find problems with the current laws, and they say the system doesn't do a very good job of predicting and preventing gun crime.

When you enter Kerley's Hunting and Outfitting in Cupertino, Calif., you're greeted by a taxidermy lion roaring and leaping. There are rows of rifles on the walls, but the owner, Harry Dwyer III, doesn't appear to be as fierce as his mascot.

All eyes will be on the First Lady Michelle Obama's fashion choices at Monday's inaugural events. Presidential fashions do make history — think Ronald Reagan's brown suits, or Jimmy Carter's cardigans.

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And we're in the midst of year-end earnings announcements. This week, companies including Apple, Lockheed-Martin, Microsoft and Starbucks will announce their final 2012 results. NPR's Yuki Noguchi has a preview of the corporate earnings season.

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NPR's business news starts with a mega-return.

(SOUNDBITE OF MUSIC)

INSKEEP: OK, last year, the United States government shut down the file-sharing website Megaupload over charges of copyright infringement. That was a popular place for users to share pirated films and music. Over the weekend, the founder of Megaupload, the New Zealand tycoon Kim Dotcom, launched a successor to the site. It's called simply Mega.

With huge crowds expected in Washington, D.C., dozens of pedicab drivers have come to town to take advantage of the president's swearing in. Mike Kowalczyk of Newport, Rhode Island, told WTOP he's a little worried about directions. He said he got lost his first night in the nation's capital.

For years, British environmental activist Mark Lynas destroyed genetically modified food (GMO) crops in what he calls a successful campaign to force the business of agriculture to be more holistic and ecological in its practices.

His targets were companies like Monsanto and Syngenta — leaders in developing genetically modified crops.

Earlier this month he went in front of the world to reverse his position on GMOs.

With the global auto industry gathered in Detroit this week for the city's renowned auto show, Renee Montagne talks to Chrysler CEO Sergio Marchionne about his company's stunning turnaround, manufacturing overseas and a Chrysler IPO.

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RENEE MONTAGNE, HOST:

And our last word in business today: prime Washington real estate.

Prestige address, 16 bedrooms, 35 bathrooms, three kitchens, all nestled on 18 acres of manicured gardens.

DAVID GREENE, HOST:

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RENEE MONTAGNE, HOST:

NPR's business news starts with Apple and Amazon.

People who own iPhones, iPads and iPods will now be able to purchase music from Amazon directly onto those devices. NPR's Laura Sydell reports on Amazon's latest attempt to compete with iTunes.

Steve Inskeep interviewed Whole Foods CEO John Mackey on Wednesday and Thursday. Mackey has a new book out called Conscious Capitalism. Mackey used the word "facism" when answering a question about the health care measure.

American Airlines unveiled the first change to its logo and the look of its planes since 1968 on Thursday.

When The Salt posted Wednesday that Whole Foods CEO John Mackey told Morning Edition that President Obama's health care overhaul isn't socialism, it's "fascism," there was quite a response. The post has more than 500 comments, so far.

There were 335,000 first-time claims for unemployment insurance last week, down 37,000 from the week before, the Employment and Training Administration reports.

That's the lowest total for any one week since January 2008.

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The Federal Reserve, yesterday, released its latest snapshot of the state of the U.S. economy. Retail and auto sales were up slightly over the year before, as was activity in the all important housing sector. Real estate sales were seen as steady or improved across much of the country.

For more on housing prices and economic recovery, we turn this morning, as we often do, to David Wessel. He's economics editor of The Wall Street Journal. Good morning.

DAVID WESSEL: Good morning, Renee.

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The Consumer Protection Financial Bureau is unveiling today the second half of its new mortgage rules. It will outline how the mortgage industry must manage loans that are delinquent or in the process of being foreclosed.

NPR's Yuki Noguchi reports that these rules, among other things, aim to make it easier for borrowers to communicate with the people handling their mortgages.

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NPR's business news starts with another ominous sign from Europe.

We've told you, in recent days, how car sales in the United States have really surged as people finally had some money to spend or finally made a long delayed purchase.

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And today's last word in business is: outsourcing.

When an American-based company noticed that somebody had been logging onto their computer system from China, day after day, they worried it was hackers so they called in some telecom risk experts from Verizon.

RENEE MONTAGNE, HOST:

And what they discovered was surprising. The activity from China was all being done with the logon of one of the firms' top software developers. Turns out the unnamed employee was outsourcing his job to several Chinese consulting companies.