The town of Stevenage, England, 30 miles north of London, was once a small patch of farmland with a few thousand people. After World War II, the British government created a massive planned community there and hoped it would become a model for public housing for the world.
Gary Younge is a writer for the Guardian newspaper. He grew up in Stevenage and found it to be a mixed blessing. Younge wrote an essay about it for the spring issue of the literary magazine, Granta. We began our conversation by asking him to read us a passage.
The first top editor from Rupert Murdoch's U.K. tabloids to face criminal charges related to the hacking scandal that has rocked his media empire is Rebekah Brooks, who prosecutors allege tried to "pervert the course of justice" last year by seeking to cover up what had been going on at Murdoch's News of the World.
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JP Morgan Chase has long had the reputation of being one of the better managed big banks in the country. So how did it make a $2 billion blunder and what does it tell us about banking today, nearly five years after the onset of the financial crisis? When such questions are looming, we often turn to David Wessel, economics editor of The Wall Street Journal.
The fact-checking organization PolitiFact looked into a shocking claim in a political ad. The ad said 85 percent of recent college graduates are moving back in with their parents. There was a reason for the ad to make that claim. PolitiFact found that 85 percent figure has been repeated by CNN, the New York Post, U.S. News, and more news organizations. The number fits the notion of a boomerang generation, thrown back home by the economy.
California Governor Jerry Brown wants to convince voters to accept two things they don't like: higher taxes and deep spending cuts. The Democrat proposed a budget yesterday which would only be the start of the pain. The other part would come in November with a ballot measure to raise taxes and spare education. Capital Public Radio's Ben Adler reports from Sacramento.
NPR's business news starts with a price hike for Facebook shares.
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INSKEEP: OK, they're not even on sale yet, but investor excitement over Facebook's upcoming initial public offering has prompted the company to raise the price range for its shares. Sources say the new range will be from $34 to $38 per share. That's up from a previous range of $28 to $35.
The fallout from banking giant JPMorgan Chase's $2 billion — and counting — loss has made its way into the presidential campaign. The president and presumptive GOP challenger Mitt Romney have very different views about the regulation of Wall Street, in particular the Dodd-Frank financial systems overhaul law.
Housing prices are going through the roof in Canada. The real estate market there is one of the hottest in the developed world. In Toronto, prices increased 10 percent in March alone. The average detached house in the city costs more than $600,000.
That has economists and the government worried that Canada is experiencing a housing bubble that's about to burst.