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.
Last week, our talk about workplace stress with consultant Peter Bregman definitely hit a nerve — and the conversation isn't over.
The New York City council gets serious this week about the mayor's budget. And "New York Works" checks in at the pilot house of the Staten Island Ferry.
Gay marriage, Conde Nast, the TV "upfronts," and the Mets and Madoff. We'll review this week's business and economic news.
Jobs, jobs, jobs. When it comes to the economic recovery, that's what it's all about. We'll talk about how men, women, and college graduates are faring in today's jobs market.
What is up with the housing market? On Wednesday, the government said new home construction fell nearly 11 percent in April. But Thursday, we expect the National Association of Realtors to tell us that existing home sales grew last month, albeit modestly.
These days, it's one of the few things you can count on in this economy: rising stress levels at work. We'll talk about coping in a stressful economy.
The U.S. maxes out its credit card, and the head of the International Monetary Fund is denied bail. We also unveil a new series: New York Works.
There's more bad news for Social Security and Medicare. The economy, rising health care costs and a drop in taxes have all shortened the life of the two entitlement programs.
Nassau County wants to grow its economy by going on a building spree, with a new hockey arena and a casino. If they build it, will the jobs come?
Microsoft to Buy Skype for $8.5 Billion
Microsoft said it will buy Skype, the Internet telephone service, for $8.5 billion. The tech company said communications are the backbone of the company, and that Skype's services will be combined with existing Microsoft products. The deal would be the largest in Microsoft's 36-year history.
"Skype has developed multiple revenue streams, and overall revenue has grown 20 percent year over year, and I think represents a very significant go-forward opportunity," said Steve Ballmer, Microsoft's CEO.
The world's two economic superpowers are meeting to discuss everything from deficits to environmental issues. We'll talk about what to expect from this round of U.S-China talks.
We'll review this week's headlines is business and economic news.
Crude Oil Prices Fall
What goes up, also comes down. Crude oil, which has been trading sharply higher this year, plunged nearly nine percent on Thursday. That's the sharpest one-day drop in more than two years.
The price of a barrel dipped below $100, as economists voiced concerns about the direction of the U.S. economy. New jobless filings were up last week. Other commodities that have dipped in recent days are silver and gold.
UBS Agrees to Multi-Million Dollar Settlement
The SEC and several states, including New York, have reached a multi-million dollar settlement with UBS over alleged fraud in municipal bond auctions. Without admitting guilt, the Swiss bank will make payments totaling $160 million to settle charges it defrauded local government bond issuers. The bank was accused of engaging in various forms of bid rigging and securities fraud from 2000 to 2004. New York City's Municipal Water Finance Authority is among the parties, and is now eligible to take part in a claims process. The settlement is the part of a long-running and still on-going investigation.
The federal government is suing Deutsche Bank, for allegedly lying to the government so it would insure risky mortgages. We'll talk about the on-going investigations into mortgage lending practices.
We'll talk about how Osama bin Laden's death could lead to a healthier economy — both here, and abroad.
Most big construction projects in New York are union jobs, but a dispute between contractors and workers could change that. We'll talk about what unions want, and what builders want.
Economy Grows, Albeit Slowly
The economy grew at a disappointing 1.8 percent annual rate in the first three months of 2011. That's down from 3.1 percent in the final months of last year. The drop is being blamed on harsh winter weather, the ongoing slump in the housing market and higher oil and prices. A sharp drop in state and local government spending also pinched economic growth.
We'll talk about Ponzi scheme mastermind Bernie Madoff's effect on financial regulations.
Housing Prices Still Falling
News that housing prices in most large American cities fell for a seventh straight month has analysts worried about the effect on other sectors of the housing industry.