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Citigroup CEO Vikram Pandit Steps Down

Oct 16, 2012

Vikram Pandit, the chief executive officer of Citigroup, has stepped down, the company's board announced today.

"The Board also announced it has unanimously elected Michael Corbat CEO and a director of the Board," Citigroup said in a statement. "Mr. Corbat previously served as Citigroup's CEO of Europe, Middle East and Africa."

Who's The Richest Person In History?

Oct 16, 2012

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Pizza Hut Rethinks Debate Promotion

Oct 16, 2012

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NPR's business news starts with some shopping season indicators.

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And four major manufacturers say they will start offering financial support for the training of military veterans. The corporations are taking part in a program called Get Skills to Work Coalition. It has said its initial goal at training 15,000 vets.

A Check On How The Fall TV Season Is Going

Oct 16, 2012

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It's MORNING EDITION from NPR News. I'm Steve Inskeep.

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And I'm Renee Montagne.

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Bank of America will release quarterly earnings tomorrow and once again, foreclosures will be part of the equation. The Charlotte-based bank's role in the 2008 housing crash has landed it on a fair number of lists of most hated institutions in America.

Snoop Dogg Touts Hot Pockets

Oct 16, 2012

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Today's last word in business is: pocket like it's hot.

SNOOP DOG: I just heat it up to eat it up.

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In many American communities, buying a home is now less expensive than renting. And with the economics tilting in favor of homeownership, many first-time buyers are jumping into the market.

After eight years of renting, Kitsy Roberts and her husband, Janko Williams, are practically giddy about their new Seattle home. And like proud parents, they are eager to show it off, from its historic details to its fresh paint.

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From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

Yesterday millions of people watched a man free fall from 24 miles above earth, breaking the sound barrier, and then watched as Felix Baumgartner glided down into the New Mexico desert.

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This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

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NPR's business news starts with a telecom mega deal.

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And our last word in business today, is supersonic.

A space jump and the brand behind it mesmerized viewers yesterday.

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It's MORNING EDITION from NPR News. I'm Steve Inskeep.

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And I'm Renee Montagne.

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The U.S. economy will keep growing throughout the year and next, but at a sluggish rate, according to a new survey from the National Association of Business Economists.

NPR's Ailsa Chang reports the forecast doesn't have much bright news for the job market.

Over the past decade, Chinese companies have become major players in the global telecommunications market. This week the House Intelligence Committee issued a report that could interrupt that growth. The committee warned American companies not to do business with two of China's main telecom manufacturers, saying they posed a security threat.

Huawei Technologies is the miracle story of the Chinese high-tech industry, says telecommunications consultant Roger Entner.

Willow Tufano became a homeowner earlier this year. This was newsworthy because Willow was 14 years old. She raised money to buy the house by selling stuff on Craigslist.

I spoke to Willow again last week and got an update. She's 15 now, and her life over the past few months was sort of surreal. She got caught up in two dramas: America's housing market and America's media circus.

A life well-worth noting has caught the attention of obituary writers:

-- "Andrew F. Brimmer, a Louisiana sharecropper's son who was the first black member of the Federal Reserve Board and who led efforts to to reverse the country's balance-of-payments deficit, died on Sunday in Washington. He was 86." (The New York Times)

"U.S. consumer sentiment unexpectedly rose to its highest in five years in October as consumers became more optimistic about the economy in a possible boost to President Obama's reelection hopes," Reuters reports.

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NPR's business news starts with rules of engagement.

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INSKEEP: Last night, Secretary of Defense Leon Panetta issued these words of warning: foreign cyber actors - he said - are probing America's critical infrastructure networks.

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A new kind of crop is being planted in the United States, and it doesn't require any land or fertilizer. Farming it improves the environment, and it can be used in a number of ways. So what is this miracle cash crop of the future?

It's seaweed.

Charlie Yarish, professor of ecology and evolutionary biology at the University of Connecticut, loves seaweed. In nature, he says, when seaweed turns a rich chocolate color, that means the plant is picking up nitrogen, a process called nutrient bioextraction.

Gangnam Style is, among other things, a high-tech, sophisticated export.

Yes, the video is totally crazy and awesome. But this is not some viral fluke. South Korea has been building up to this moment for 20 years.

Here are three reasons South Korean pop music is taking over the world:

Here's an astonishing fact: Half of America's mushrooms are grown in one tiny corner of southeastern Pennsylvania, near the town of Kennett Square.

But why? It's not as though this place has some special advantage of climate or soil, the kind of thing that led to strawberry fields in Watsonville, Calif., or peach orchards in Georgia. Mushrooms can grow indoors. They could come from anywhere.

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