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Financial 411

WNYC

WNYC's Amy Eddings hosts a daily overview of financial news at 4:30 each weekday. This financial wrap delivers highlights of the day's business news delivered by WNYC's reporters with context, clarity and a New York perspective.

WNYC's Amy Eddings hosts a daily overview of financial news at 4:30 each weekday. This financial wrap delivers highlights of the day's business news delivered by WNYC's reporters with context, clarity and a New York perspective.
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Location:

New York, NY

Networks:

WNYC

Description:

WNYC's Amy Eddings hosts a daily overview of financial news at 4:30 each weekday. This financial wrap delivers highlights of the day's business news delivered by WNYC's reporters with context, clarity and a New York perspective.

Twitter:

@wnyc

Language:

English

Contact:

WNYC Radio 160 Varick St. New York, NY 10013 212-433-9692


Episodes

Financial 411: Weekly Business Roundup

7/22/2011
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Markets Stocks were mixed Friday. The Dow declined 43 points, ending the week at 12,681. But positive reports from chipmakers pushed the Nasdaq 24 points higher, to 2,859. The S&P 500 gained a single point, settling at 1,345. Reviewing This Week's Business Headlines The big banks released their second quarter earnings reports this week. It was bad news at Bank of America, which had its biggest quarterly loss ever - $9 billion - connected with a lawsuit the bank settled. Goldman Sachs...

Duration: 00:05:22


Financial 411: Gauging Reaction to the News Corp. Scandal in New York

7/21/2011
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Latest Unemployment Numbers New York State and New York City both saw their June unemployment rates tick up to 8 percent and 8.7 percent, respectively. In the city, the securities industry shed 2,000 jobs last month. Local government took an even bigger hit, losing 2,700 jobs. Restaurants and private schools have added the greatest number of positions since the city hit economic bottom in September 2009. Markets Although there's still no deal on raising the U.S. debt limit, across the...

Duration: 00:05:16


Financial 411: The Hudson Yards Project

7/20/2011
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Debt Talks Continue on Capitol Hill President Barack Obama said he's now open to a short-term deal to raise the nation's debt ceiling if it will allow time for a broader plan to be put in place. There are 13 days left before the August 2 deadline, when the U.S. risks defaulting on its financial obligations. A new bipartisan budget plan emerging from the Senate would slash the deficit by almost $4 trillion over a decade, through a mix of spending cuts and new tax...

Duration: 00:05:28


Financial 411: Drawing Tech Companies to NYC

7/19/2011
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City officials want to attract a major research institution to open a new science and engineering campus in New York City. As an incentive, the city is offering publicly owned land and as much as $100 million in funding. It was the highlight of an event on the future of New York City, hosted by Crains New York Business. City officials have really been pushing technology. But there are also challenges to starting a company in New York — like the cost. New York Works: Brooklyn Arborist...

Duration: 00:05:37


Financial 411: Weekly Business Roundup

7/15/2011
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News Corporation's phone-hacking scandal continues to grow. Dow Jones CEO Les Hinton has announced he's resigning. He was chairman of News International, overseeing the British newspapers that are at the heart of the scandal. Reporters from those papers are accused of hacking into people's voice mails to get information. "News Corp. is an enormous force here in New York," said Greg David, director of the Business and Economics Reporting Program at the CUNY Graduate School of...

Duration: 00:05:19


Financial 411: Managing Your Manager

7/13/2011
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Markets After three days of losses, markets returned to positive territory on Wednesday, spurred on by Federal Reserve Chairman Ben Bernanke's comment that the Fed is prepared to do more to stimulate the economy if it falters. News Corporation added 58 cents after the beleaguered media giant announced it will abandon a bid for full control of a British satellite broadcaster. The Dow gained 45 points, closing at 12,492. The Nasdaq rose 15 points, ending at 2,797. And the S&P 500 gained...

Duration: 00:05:23


Financial 411: Reviewing the Business Headlines

7/12/2011
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Markets fell on Tuesday after the rating agency Moody’s cut Ireland’s credit rating to junk status. The Dow dropped 59 points, closing at 12,447. The SP 500 was down six points, closing at 1,314. The Nasdaq fell 21 points, closing at 2,782. Taking a Look at Crains New York Business HeadlinesThe mayoral race is still far off, in 2013, but a new Democratic candidate has jumped into the mayoral race. Tom Allon is the publisher of Manhattan Media, and views himself as a business candidate....

Duration: 00:05:22


Financial 411: Making the Time to Think

7/6/2011
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As part of our weekly look at issues in the workplace, we talk with management consultant Peter Bregman, who says that in our driven, fast-paced, productivity-focused lives we are losing our ability to take time out of our day to slow down and just think. Bregman said slowing down for a short time throughout the day makes us more productive, and is exactly what we need in an age driven by technology."I never liked to slow down, but when I slowed down for a little bit, my mind started...

Duration: 00:05:15


Financial 411: Weekly Business Roundup

7/1/2011
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The ghost of mortgage-backed securities reappeared this week. Bank of America agreed to pay $8.5 billion to settle claims with several major institutional investors who said they had been misled about the poor quality of mortgage-backed securities. These were bonds purchased from Countrywide Financial, which was later absorbed by Bank of America. In other banking headlines, Goldman Sachs announced it will let go of 230 employees in New York City. We've had reports that other banks are...

Duration: 00:05:22


Financial 411: Lobbying Continues in Washington After the Laws are Signed

6/22/2011
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You might think the lobbying in Washington, D.C., stops on a piece of legislation once it's signed into law. But when it comes to the financial regulatory reform bill, which became law last summer, the lobbying intensified in some areas. Companies shifted focus from members of Congress to the regulatory bodies themselves: the Securities and Exchange Commission, the Federal Reserve and the Commodity Futures Trading Commission.Michael Beckel, the money-in-politics reporter for the Center for...

Duration: 00:04:22


Financial 411: Travel Plans a Go Despite Economy

6/21/2011
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Many Americans appear determined to go on a vacation this summer despite their anxieties about the economy. But they will have to make an extra effort to find savings, with gas prices and air fares both higher than they were last year. Even with high fuel costs, and a weak dollar compared to the Euro, Charisse Jones, a business travel correspondent for USA Today, said people will be traveling this summer. The paper recently polled readers about their summer travel plans. "We found out that...

Duration: 00:04:57


Financial 411: The Week Ahead in Business

6/20/2011
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Investors overcame their fears that the financial crisis in Greece could spread throughout Europe, and pushed the market up on Monday. The Dow Jones finished up 76 points to close at 12,080. The SP 500 gained seven points, to end at 1,278. The NASDAQ added 13 points, to close at 2,630. But will the trend continue this week? We'll see the latest figures on home sales. The Federal Reserve is also scheduled to meet, and is expected to keep interest rates unchanged. Chairman Ben Bernanke will...

Duration: 00:05:22


Financial 411: Weekly Business Roundup

6/17/2011
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For a third straight day, Republican senators in Albany conferenced behind closed doors only to emerge saying they have no agreement on whether to bring a bill legalizing same-sex marriage to the floor for a vote. But lawmakers have a lot of other matters on their plates before the session ends on Monday, such as renewing New York City's rent regulations. The law that sets rents for about 1 million New York City residents expired midnight Wednesday because Albany legislators didn't renew...

Duration: 00:05:27


Financial 411: A Look at the Latest Jobs Numbers

6/16/2011
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New York City and state's unemployment rates stayed steady last month — at 8.6 and 7.9 percent, respectively. The state's Labor Department reported that in the past year, New York City had some of the fastest growth in jobs at colleges and universities. On the flip side, federal workers in New York City were downsized by nearly 35 percent. Barbara Byrne Denham, chief economist at Eastern Consolidated, said the latest report was a little disappointing because jobs numbers were flat. She...

Duration: 00:05:30


Financial 411: Did the Fed's Quantitative Easing Work?

6/15/2011
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The Federal Reserve's sometimes-controversial program of quantitative easing, or QE2, comes to an end in 15 days. Under the program, the Fed bought $600 billion in U.S. treasury bonds, in an effort to keep interest rates low and spur economic growth. Federal Reserve Chairman Ben Bernanke gave QE2 tepid support at his news conference last April."We were very clear from the beginning that while we thought this was an important step, this was not going to be a panacea, that it was only going...

Duration: 00:05:22


Financial 411: A Year After Dodd-Frank, New Rules Behind Schedule

6/14/2011
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It's been nearly a year since sweeping changes to the financial regulatory system were signed into law. That law, known as Dodd-Frank, is supposed to create a new set of rules for the banking industry to prevent another so-called Great Recession. But many of the required rules still haven't been written, much less implemented. Vacancies in the Obama administration and in other top government posts are only adding to the delay. And on Tuesday, the Commodities Futures Trading Commission...

Duration: 00:05:23


Financial 411: A Look at the Week Ahead

6/13/2011
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Economic Concerns Continue What's the cure for an ailing economy? Time. That's the overwhelming response from several leading economists polled by the Associated Press. The survey found that many of them are now lowering their expectations for job growth and economic expansion for the rest of the year. But, it's not all bad news — at least gas prices continue to fall. The energy department says the average gallon of gasoline now costs $3.71, down seven cents from last week. In New York...

Duration: 00:05:34


Financial 411: Weekly Business Roundup

6/10/2011
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This week, talk about a Congressman Anthony Weiner threatened to derail the entire news cycle. Weiner, who admitted on Monday to sending sexually explicit pictures to several women online, is now under pressure to resign. At one time, he was considered a serious contender for the New York City mayor's office. Could he still be a contender? Meanwhile, two governors in neighboring states are pursuing public pension reform. New Jersey Governor Chris Christie scored an important new supporter...

Duration: 00:05:22


Financial 411: Developers, Workers Spar on Contracts

6/9/2011
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New York City has been transformed in the past decade by a construction boom, which created not just office buildings but lots of new condos. The recession put an end to the rapid growth. Construction has dropped 22 percent since 2008. But as the industry begins to show signs of life again, there is a fight developing between developers and their carpenters, concrete workers, and other unionized employees. Nearly two dozen labor contracts are set to expire at the end of this month, and the...

Duration: 00:05:24


Financial 411: New York City's Design Sector

6/8/2011
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Throughout the recession and the recovery, New York City's jobless rate has been lower than the nation's as a whole. It was 8.6 percent in April in the city, compared with 9.1 percent for the entire U.S. One thing that may be helping is the design sector of our local economy. A new study finds jobs are booming in graphic design, industrial design, fashion, and — despite the drop in construction — even architecture. David Giles, a research associate with the Center for an Urban Future,...

Duration: 00:05:13

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