Whether they saved too little or want to stay active, more Americans are working into what are usually considered the retirement years. Stacey Vanek-Smith explains the challenges of staying in the workforce.
It's the end of an era as Rico Gagliano's on-air education draws to a close. Tess and Rico look back at lessons learned in this final episode of "Educating Rico."
In this edition of Getting Personal, Chris and Tess talk about purchasing a business, buying foreign real estate, self-employment and financing study abroad.
Fannie Mae and Freddie Mac now ask more of lenders making condo loans. Tess asks David Lereah to explain the new regulations making life tough for prospective condo owners.
Economic stimulus payments are in the mail, but as Danielle Karson explains, before you blow that check, there are some charities who'd like to make their pitch.
As it becomes harder to get a loan from a bank, alternatives emerge. Economics editor Chris Farrell sets the story straight on the pros and cons of peer-to-peer lending.
Pharmaceutical companies face expiring patents on many blockbuster drugs, with few new medicines in the pipeline to replace them. So the industry's trying creative ways to make money. Some say too creative. Nancy Marshall Genzer reports.
The latest European trend arriving in the U.S.: allowing shareholders to vote on executive pay packages. As Ashley Milne-Tyte reports, investors are eager to make themselves heard.
The Federal Reserve recently proposed tough new rules for the credit card industry. Now Congress wants its turn. Tess speaks with Congressman Barney Frank.
Facing a provincial vote this weekend, Bolivian President Evo Morales has announced he plans to nationalize the nation's biggest telecommunications company and four foreign-owned natural gas companies. Dan Grech reports.
With about three months to go before the China Olympics, Beijing is being picky about who it's letting in. Chinese visas are getting harder to come by, and foreign businessmen are crying foul. Scott Tong reports.
A federal appeals court has told Tyson Foods, the country's biggest chicken producer, to stop an advertising campaign that claims its birds are free of antibiotics — because they're not. Lisa Napoli reports.
Linens 'n Things is filing for Chapter 11 bankruptcy. The troubled home store blames the fall-out of the housing market for its decline. But analysts say the company was too highly leveraged. Jill Barshay reports.
The Federal Reserve has joined with the European Central Bank to pump billions more dollars into the banking system, trying to persuade financial institutions there's money to be had. Bob Moon explains.
The Center on Budget and Policy Priorities reports today that the potential budget shortfalls in 25 states total about $40 billion. With tax revenues down and expenses up, some hard-hit states have enacted hiring freezes. Janet Babin reports.
A leading economics institute in Britain has found a new culprit to blame for the severity and worldwide spread of the credit crunch. It's America's bankruptcy laws, and they should be made more strict. Stephen Beard reports from London.
This weekend starts summer movie season, opening with the release of "Iron Man"… We're done with the writers' strike and onto the SAG negotiations… And then, there's Miley Cyrus. Mike Spier, executive editor at Variety fills us in on the Hollywood buzz.
It can cost up to $200,000 a month to rent a decent summer place in the Hamptons on Long Island. With the American economy in a slump, those rentals might go empty this year, but for the foreign exchange rate. Ashly Milne-Tyte reports.
A report today says more and more companies aren't providing health insurance — even big companies. And more and more of those workers who can't afford insurance are enrolling in government programs. Nancy Marshall Genzer reports.
Don't wanna wait to get home and watch the Daily Show episode you TiVo'd. No problem. Watch it live on your cell phone. This weekend AT&T launches its Mobile TV service. Other companies have similar services. Stacey Vanek-Smith reports.
After years of consumer complaints about unfair credit card fees and interest charges, regulators are cracking down. Today, the Federal Reserve Board is expected to endorse restrictions on banks that issue credit cards. John Dimsdale has more.
Picking a winner in Saturday's Kentucky Derby will be harder than usual. Churchill Downs has had a dirt track for 134 years, but many of the races leading up to the Derby are run on synthetic surfaces. Scott Jagow talks about it with horse-racing reporter Jennie Rees.
In Saudi Arabia, strict religious laws forbid women from driving. There's talk of changing that rule in the next couple of years. But in the meantime, it's keeping women out of the workforce. Kelly McEvers reports.
Now that last weekend's NFL draft is over the hard work starts for lawyers and agents trying to hammer out multimillion-dollar contracts for their college-age athletes. Business-of-sports analyst Diana Nyad gets into the details with Kai Ryssdal.
A Chicago club has been ordered to pay more than $500,000 in damages after Red Bull spies spotted the club's bartenders serving a cheaper imitation to customers who had requested the super-caffeinated beverage in their drinks. Jill Barshay reports.
Homeowners aren't the only ones who've gotten up to their ears in debt in the subprime loan debacle fallout. Investment banks and hedge funds have gotten into trouble by borrowing more and more to finance their investments. Amy Scott reports.
The Department of Agriculture says U.S. farm profits this year are going to be well above average. But commentator and journalist Bill McConnell says farmers know better than to get too excited about any short-term windfall.
After shedding its debtor-nation status, Brazil has now received an investment-grade credit rating from Standard & Poor's. And the news is getting the kind of attention usually reserved for the national soccer team. Dan Grech reports.
Some big rice growing countries are taking a page from the global oil markets and considering forming an organization like OPEC for Asia's rice growers. Jeff Tyler reports on whether a food cartel could actually work.
Exxon Mobil reported $10.9 billion in profits last quarter, but Wall Street was disappointed. Because even though Big Oil's prospects look good at the well head, they're mostly evaporating by the time consumers pull up to the gas station. Bob Moon reports.
A House committee has passed a bill that might help curtail pirating of music and movies. In addition to tougher penalities, the bill would create a cabinet-level Intellectual Property czar. Janet Babin has more.
For Hollywood, May 1 marks the start of the summer movie season. Lisa Napoli says Tinseltown has high hopes for big box office returns this year, beginning with the release today of "Iron Man."
Banks borrowed heavily to make lucrative investments during good times. Since then, losses from the subprime mortgage meltdown have eroded their cash cushions. Amy Scott reports banks are being taught a lesson learned from last century.
Italy is recovering from a questionable experiment in transparency. Italians were shocked to discover, yesterday, that the government had put their tax statements online — everyone's tax statements. Megan Williams reports from Rome.
Today, Wall Street is convening in Washington for the security industry's first ever federal legislative and regulatory conference. Jill Barshay reports that financial executives need to make friends while they're there.
Economics Correspondent Chris Farrell thinks raising the gas tax would not only change driving behavior, it would encourage research and development into alternative and more efficient fuels. He, by the way, isn't running for office.
Beijing has promised a smoke-free Olympics this August, and today, the city began a sweeping ban on smoking in public places. That is, with the exception of a couple of highly visible industries.
Scott Tong reports.
Consumers are facing a double whammy. Sticker-shock at the gas pumps and again at the grocery store. Today a Congressional hearing focuses on how rising food costs affect Americans and what can be done. Jeff Tyler has more.
"Love in the Meadows," the French version of a TV show now airing in America, is in its third season. About 100,000 single French farmers live often lonely, rural lives, but many wish the show would be put out to pasture. John Laurenson reports.
With newspapers across the nation cutting staff, and local and national broadcast outlets laying people off, commentator David Frum asks whether the future of the news business might be found in a more partisan press.
Like other banks hit by the credit crunch, Citigroup is selling off stock to raise money — diluting the stock's value. Michael Holland of the Holland & Company investment firm, talks with Kai Ryssdal about the impact such moves have on investors.
Spring has been coming earlier and earlier in the Rocky Mountains for the past decade. And while this year has been a bumper crop for snow, scientists and farmers are worried about a dry, long-term trend. Peter O'Dowd reports.
After a little financial help from Congress, the Food and Drug Administration announced it will hire 1,300 new employees. It's a big deal for an agency that currently employs about 10,000 workers. Jeremy Hobson reports.
Corporations are subject to some of the same economic stresses as the rest of us — especially companies that sell food. Kraft and Kellogg reported lower profits today. But they did better than anybody was expecting. Alisa Roth reports.
The Federal Reserve did exactly what everyone thought it was going to do today — cut short-term interest rates 0.25%. In the process it said some not-so-reassuring things. John Dimsdale reports.
GM lost more than $3 billion so far this year. But hey, that's nothing compared to the $38-billion the automaker lost last year. The company blames challenging market conditions and ongoing labor issues. Janet Babin reports.
The economy as a whole will suffer if employers don't do enough to attract and retain older workers. That's the topic of a Senate hearing today on what some are calling a looming crisis in the labor force. Jeremy Hobson reports from Washington, D.C.
Boycotts remain a hot topic among the Chinese, who are upset about coverage of Olympic torch protests around the world. Scott Tong reports from Shanghai about the feeling that foreign media have painted an unfair portrait of China.
After allegations of corruption at electronics giant Siemens surfaced 18 months ago, the company hired a law firm to investigate them. Interim results don't look good for Siemens, however. Stephen Beard reports.
The investment funds of oil rich countries are buying up huge chunks of major American companies, prompting calls for a code of conduct. The IMF hosts a meeting today to work on one. Stacey Vanek-Smith reports.
Some politicians want to give Americans a break this summer with a gas tax holiday. Commentator Robert Reich says that would only encourage more driving and, hence, drive gas prices up even higher and fuel global warming.
The New York Restaurant Association is back in court today trying to stop the city from requiring calorie counts on menus. But a new study suggests calorie information might be just what the doctor ordered. Alisa Roth has more.
Exxon Mobil is used to criticism from environmental activists. But now, one of their chief critics is the family that founded the company: the Rockefellers. They're going public with complaints today. Jill Barshay reports.
President Bush was firmly on message today in a Rose Garden press conference: It's a slowdown, not a recession… He'd love to lower gas prices, but Congress is standing in the way. Bob Moon and Kai Ryssdal examine what the president said and didn't say.
In Europe, utilities pay people who provide green energy for the power grid. But everyone else foots the bill for those payments. There's talk about doing the same thing in the U.S. Can Americans afford another surcharge on their energy bills? Lisa Desai reports.
Speculators armed with subprime or adjustable-rate loans flooded the condominium market a couple of years ago. Now, many are in trouble, and other residents in their condo communities are paying the price. Dan Grech reports.
A $3 billion plan to revitalize downtown Los Angeles has been pushed back due to the credit crunch. Lisa Napoli reports on what it means when commercial real estate developers can't develop real estate.
The Federal Open Market Committee is in the middle of a two-day meeting on interest rates. Chances are good that tomorrow the federal funds rate will be trimmed again, despite worries about rising prices. John Dimsdale reports.
The Discovery Channel just started the third season of its hit show "Deadliest Catch," a wild ride with crab fishermen on the Bering Sea. Kai Ryssdal talks with the two stars, brothers Andy and Johnathan Hillstrand.
Many homeowners are still feeling the pinch of tight credit and falling housing prices. A new report says the foreclosure rate has more than doubled from a year ago. And the pain is becoming more widespread. Janet Babin has more.
The U.N. Security Council meets today to discuss the unverified results of last month's election in Zimbabwe. The country's economy was devastated under President Robert Mugabe. What if he is re-elected? Gretchen Wilson reports from Johannesburg.
Host Scott Jagow talks with our man in London, Stephen Beard, about an investigation by the Office of Fair Trading into allegations that British supermarkets colluded with U.S. suppliers to fix prices.
You go on the Web to read an article, and what do you see first? A car ad zooming across the screen. Advertisers always want new ways to get our attention. Commentator Rob Walker says now it's getting personal.
Grand Theft Auto: Liberty City Stories went on sale at midnight, and fans lined up to get their copies. Parent company Take-Two is hoping the game's success will help ward off a buyout. Stacey Vanek-Smith reports.
Consumer product companies in the U.S. are caught up in an investigation into claims that British supermarket chains colluded with them to fix prices. Steven Beard reports from London
If you work in an office, you probably spend part of your day whispering about the trials and tribulations of your coworkers. It's part of working life, right? Well, one company actually banned it. Stacey Vanek-Smith reports.
Tomorrow, the Fed is expected to decide whether to cut interest rates again. A big factor in its decision is inflation. Cutting the rates too much could fuel it. Nancy Marshal Genzer reports from Washington, D.C.
In our story about a book on BS, the author, while making a point, said that no one in the history of the world had ever washed a rental car. Well, listener Brad Brooks-Rubin wrote in to correct that statement.
In big cities in China, single women may still be looking for men with charm, wit, intelligence and good looks. But what really makes them swoon is a man who owns a home. Lisa Chow reports.
Hundreds of millions of the world's poorest consumers are suffering greatly as the global cost of food has soared. Washington Post reporter Anthony Faioloa met some of them recently in western Africa. He talks with Kai Ryssdal about what he saw.
IBM employees on Tuesday plan to protest the company's practice of "reclassification," or changing salaried workers to hourly ones. It's a word that's getting a lot of play in corporate America these days. Lisa Napoli reports.
Almost a year ago the United States Postal Service stopped sending letters and packages by sea. It's airmail only now for most international postage. Commentator Robert Lyle wonders whether the change has been worth it.
Two weeks from today the cost of mailing a first-class letter goes up a penny, from 41 to 42 cents. Unless you've bought some of theose "forever" stamps, which are being bought at a rate of 30 million a day. Jeremy Hobson reports.
The Federal Reserve is holding hearings in L.A. on Bank of America's planned acquisition of troubled mortgage company Countrywide. Fair-lending advocates say the acquisition should include an obligation to help clients avoid foreclosure. Jeff Tyler reports.
Oil nudged closer to $120 a barrel today. Two theoretically unrelated labor disputes — in Nigeria and Britain — were largely to blame. Stephen Beard reports.
The Mars candy company is teaming up with Warren Buffet to buy Wrigleys for $23 billion. Meanwhile, Kirk Kerkorian is buying more shares in Ford Motor Co. If you've got billions, is now the time for bargains? Jill Barshay reports.
Candy giant Mars has struck a deal to take over chewing gum maker Wrigley's in a $23 billion deal unveiled this morning. The deal is so sweet, Warren Buffet wants to invest after the deal is over. Janet Babin reports.
Rebate checks are going out soon, and the government wants you to spend them. Sarah Gardner finds out that many consumers have another plan — they want to pay off debt, particularly on credit cards. Still, the stores will be tempting you.
Zimbabweans fleeing poverty and starvation in their country take their lives in their hands to cross illegally into South Africa. Dangerous animals, razor wire fences and worst of all, violent gangs. Gretchen Wilson talks with survivors.
