Jim Zarroli http://wamc.org en International Court Rules Against Russia In $50 Billion Decision http://wamc.org/post/international-court-rules-against-russia-50-billion-decision Russia says it will appeal an unfavorable decision by a court in The Hague. The Permanent Court of Arbitration awarded $50 billion to shareholders of the defunct Yukos oil company. Russia seized the company in 2003 and put owner Mikhail Khodorkovsky in jail on tax and fraud charges. <div class="fullattribution">Copyright 2014 NPR. Mon, 28 Jul 2014 20:13:00 +0000 Jim Zarroli 95840 at http://wamc.org Locked In U.S. Hedge Fund Battle, Argentina Faces Default http://wamc.org/post/locked-us-hedge-fund-battle-argentina-faces-default <div class="fullattribution">Copyright 2014 NPR. To see more, visit http://www.npr.org/.<img src="http://www.google-analytics.com/__utm.gif?utmac=UA-5828686-4&utmdt=Locked+In+U.S.+Hedge+Fund+Battle%2C+Argentina+Faces+Default&utme=8(APIKey)9(MDA2NDA4NzY1MDEyODkzMjYyNTkxZjFiZQ004)"/></div><p>Transcript <p>RENEE MONTAGNE, HOST: <p>This is MORNING EDITION from NPR News. I'm Renee Montagne.<p>LINDA WERTHEIMER, HOST: <p>And I'm Linda Wertheimer. The nation of Argentina could default this week on billions of dollars of debt. It would be the second time Argentina has defaulted in less than 15 years. Mon, 28 Jul 2014 09:00:00 +0000 Jim Zarroli 95786 at http://wamc.org How High Debt From The Housing Collapse Still Stifles Our Economy http://wamc.org/post/how-high-debt-housing-collapse-still-stifles-our-economy "Foreclosure, foreclosure, foreclosure."<p>Real estate broker John Susani drives down a Paterson, N.J., street where every third house seems to be abandoned or boarded up. During the boom years, money flooded into Paterson.<p>"The banking industry allowed everyone to be a homeowner; they gave mortgages to people [just because they were] breathing," Susani says.<p>In some cases, he says, home prices jumped as much as 50 percent. The homes on these streets aren't worth nearly that much anymore.<p>Seven years after the subprime mortgage crisis, U.S. Thu, 24 Jul 2014 10:13:00 +0000 Jim Zarroli 95574 at http://wamc.org How High Debt From The Housing Collapse Still Stifles Our Economy Citigroup Agrees To $7 Billion Fine For 'Egregious' Misconduct http://wamc.org/post/citigroup-agrees-7-billion-fine-egregious-misconduct Citigroup has agreed to pay $7 billion to settle claims that it committed fraud when it sold mortgage-backed securities in the years leading up to the financial crisis. Most of the money will be paid to the U.S. Treasury, but some will be used to provide mortgage relief to struggling homeowners. Mon, 14 Jul 2014 20:15:00 +0000 Jim Zarroli 94827 at http://wamc.org Citigroup Settles Subprime Mortgage Case For $7 Billion http://wamc.org/post/citigroup-settles-subprime-mortgage-case-7-billion Transcript <p>STEVE INSKEEP, HOST: <p>Citigroup has agreed to settle allegations that it defrauded investors in the years leading up to the financial crisis. The settlement requires Citigroup to pay $7 billion. Two and a half billion will go toward mortgage relief for homeowners. Now, this settlement involves mortgage-backed securities the bank packaged and sold to investors, and it was announced this morning by U.S. Attorney General Eric Holder. We're going to talk this through with NPR's Jim Zarroli who's on the line. Mon, 14 Jul 2014 16:34:00 +0000 Jim Zarroli 94795 at http://wamc.org With Default 23 Days Away, A Little Clause Could Cost Argentina Big http://wamc.org/post/default-23-days-away-little-clause-could-cost-argentina-big Transcript <p>ROBERT SIEGEL, HOST: <p>From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.<p>MELISSA BLOCK, HOST: <p>And I'm Melissa Block. The clock is ticking for Argentina. Yes, in the World Cup, but here, we're talking about its effort to prevent another debt crisis. Argentina has until the end of this month to pay its bondholders or it risks going into default. Tue, 08 Jul 2014 20:13:00 +0000 Jim Zarroli 94378 at http://wamc.org Report Shows 288,000 New Jobs In June http://wamc.org/post/report-shows-288000-new-jobs-june Transcript <p>RENEE MONTAGNE, HOST: <p>This is MORNING EDITION from NPR News. I'm Renee Montagne.<p>DAVID GREENE, HOST: <p>And I'm David Greene. Good morning. We begin this hour with more positive signs about the nation's economy. The Labor Department this morning said the U.S. unemployment rate fell to its lowest level in nearly six years last month, and employers added some 288,000 jobs to their payrolls. Here's NPR's Jim Zarroli.<p>JIM ZARROLI, BYLINE: The job growth was spread across the economy in business services, retail trade, manufacturing and even government hiring. Thu, 03 Jul 2014 15:14:00 +0000 Jim Zarroli 94037 at http://wamc.org French Bank To Pay $8.83 Billion In Sanctions Probe http://wamc.org/post/french-bank-pay-883-billion-sanctions-probe Transcript <p>RENEE MONTAGNE, HOST: <p>This morning, top executives at France's largest bank, BNP Paribas, reassured investors that they have enough cash to pay a $9 billion penalty to the U.S. government. Late yesterday, the bank agreed to plead guilty to violating U.S. sanctions laws and accepted that $9 billion fine. It's the largest penalty ever imposed by the U.S. government for sanctions violations. The bank admitted it helped clients in Sudan and other countries evade U.S. trade embargoes through its New York office. And the U.S. Tue, 01 Jul 2014 09:21:00 +0000 Jim Zarroli 93841 at http://wamc.org BNP Paribas Agrees To Nearly $9 Billion Fine And Admission Of Guilt http://wamc.org/post/bnp-paribas-agrees-9-billion-fine-and-admission-guilt Transcript <p>MELISSA BLOCK, HOST: <p>Banking giant BNP Paribas has agreed to pay American regulators nearly $9 billion dollars to settle charges of economic sanctions violations. It's the largest such fine ever imposed by the U.S. The bank will plead guilty to two criminal charges. It was accused of helping clients in Sudan, Cuba and Iran conduct business in the United States. NPR's Jim Zarroli reports.<p>JIM ZARROLI, BYLINE: The charges were brought after a lengthy investigation that involved the Justice Department, the Federal Reserve and banking regulators in New York state. Mon, 30 Jun 2014 22:20:00 +0000 Jim Zarroli 93829 at http://wamc.org U.S.-Foreign Mergers Raise Calls For Tax Reforms http://wamc.org/post/us-foreign-mergers-raise-calls-tax-reforms This week the big medical device company Medtronic said it was moving its legal headquarters from Minneapolis to Ireland. It's part of a $43 billion merger with another medical company, Dublin-based Covidien.<p>The move is a tax-saving strategy called an inversion and it's growing more common in the corporate world.<p>U.S. Fri, 20 Jun 2014 20:57:00 +0000 Jim Zarroli 93119 at http://wamc.org U.S.-Foreign Mergers Raise Calls For Tax Reforms