The Economy: U.S and World Economic News : NPR

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Refinancing Help Won't Erase Borrowers' Problems

August 31, 2007 • Treasury Secretary Henry Paulson says the steps the Bush administration is taking will help identify mortgage holders who might have problems down the line. He says the government cannot make the problems go away, but it can try to help those who are capable of owning a home refinance their loans.

Refinancing Help Won't Erase Borrowers' Problems

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Bush Offers Help to Overwhelmed Mortgage Holders

August 31, 2007 • Responding to the growing wave of mortgage foreclosures, President Bush has announced measures that could help some troubled borrowers keep their homes. But only a small fraction of subprime borrowers will be eligible.

Bush Offers Help to Overwhelmed Mortgage Holders

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Business

'Marketplace' Report: Housing Market Woes

August 31, 2007 • President Bush announced a plan Friday to help homeowners who are facing foreclosure. But many mortgage bankers say that people who buy homes with the intention of "flipping" them should deal with their loan problems on their own. Sam Eaton of Marketplace talks with Alex Cohen.

'Marketplace' Report: Housing Market Woes

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Bernanke Speech Fuels Expectations of Rate Cut

August 31, 2007 • Lenders and investors whose poor decisions helped foster the current deepening mortgage crisis in America should not expect all their mistakes to be absolved by the Federal Reserve, Ben Bernanke said. But the Fed chairman said the central bank will act to limit the fallout from the credit debacle.

President Bush Offers Help to At-Risk Homeowners

August 31, 2007 • President Bush throws a lifeline to help hundreds of thousands of at-risk homeowners. Treasury Secretary Henry Paulson and Housing Secretary Alphonso Jackson devise initiatives to aid mortgage holders and keep them from defaulting on their loans.

Feds to Bolster Housing Market as Crisis Grows

August 31, 2007 • President Bush will announce the administration's first steps to ease the subprime mortgage crisis, after more bad housing news this week: Mortgage rates are going up, and the number of unsold properties is rising. Some of the problems began when borrowers took on loans they couldn't repay.

Hear Roger Lowenstein, author of The Origins of the Crash: The Great Bubble and Its Undoing

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Murphy Oil Thrives Despite Rural Roots

August 31, 2007 • Big oil companies tend to like big cities. ConocoPhillips is headquartered in Houston. BP: London. Chevron: San Francisco's Bay Area. But Murphy Oil, which runs about 1,000 gas stations outside Wal-Mart stores, is based far off the beaten path, in rural Arkansas.

Murphy Oil Thrives Despite Rural Roots

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Business

'Forbes' Ranks the World's Powerful Women

August 31, 2007 • Forbes magazine releases its annual ranking of the 100 most powerful women. The chancellor of Germany, Angela Merkel, is at the top, and Condoleezza Rice is No. 4. But more than half the women on the list are business leaders, not government leaders.

'Forbes' Ranks the World's Powerful Women

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Home Loan Defaults Cause German Bank Collapse

August 31, 2007 • The troubles in the U.S. subprime mortgage market have spilled over to the European financial markets. That has lead to the demise of a German bank, which ran out of cash covering investment losses tied to the crisis.

Home Loan Defaults Cause German Bank Collapse

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Music News

Jazz Fests Boost Musicians, Fans, Local Economies

August 30, 2007 • Since the very first jazz festival — at Newport, R.I., in 1954 — the events have been high-profile showcases for musicians. But they can also be important economic engines for the communities that host them.

Jazz Fests Boost Musicians, Fans, Local Economies

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Businesses Blame Slow Sales on Housing

August 30, 2007 • Newsweek columnist Daniel Gross says a lot of people use home equity to buy big-ticket items, such as boats and cars, and those industries are already blaming a downturn in business on the problems in the housing market.

Businesses Blame Slow Sales on Housing

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Housing Woes Grow as Prices Slump Nationwide

August 30, 2007 • A federal report finds that housing prices were flat this spring and could be heading lower. Economists say the recent news is evidence that the real estate slump will be more prolonged and widespread than predicted.

Housing Woes Grow as Prices Slump Nationwide

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Retailers Try Marketing Schemes to Lift Spending

August 30, 2007 • Some 4,000 gas stations have started showing satellite TV on 20-inch screens at the pump in hopes that gas buyers will stick around the station, and buy more stuff. And Kentucky Fried Chicken just piloted its first "scent-focused" campaign.

Retailers Try Marketing Schemes to Lift Spending

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Auto Sales Decline Amid Credit Woes

August 30, 2007 • Retail sales of new vehicles could be off as much as 10 percent this year as troubles in the credit market spilling over into new car sales. Industry analysts say overall vehicle sales are off about 3 percent. But when you take out corporate and fleet sales, the picture is bleaker.

Auto Sales Decline Amid Credit Woes

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Teamsters Seek to Halt Trucking from Mexico

August 30, 2007 • The Teamsters Union asks a federal appeals court to put the brakes on a pilot program that would allow Mexican trucks to travel deep into the U.S. Trucks from the United States and Mexico were supposed to be able to travel at will between the two countries under the North American Free Trade Agreement.

Teamsters Seek to Halt Trucking from Mexico

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