Steinway Musical Instruments is on the auction block and a mystery bidder, rumored to be hedge fund manager John Paulson, appears to have the winning bid at $458 million. Ilya Marritz explains why the fairly healthy company is seeking a buyout in the first place.
The contaminated fruit that killed 33 people and sickened at least 147 others in 2011 came from a farm 90 miles from Rocky Ford, Colo. But the town's many melon farmers took a huge hit nonetheless, and are still trying to convince the public their cantaloupes are safe.
Growing numbers of Brazilians are visiting the U.S.; last year, they spent $9 billion. It's a sign of a changing Brazil — more affluent, more outward looking. Most of those getting visas to the U.S. are going to shop or do business, and the economic impact has been palpable.
The Justice Department's opposition to the merger of US Airways and American Airlines stunned industry analysts, but many predict the $11 billion deal will eventually win approval. Some industry watchers see the government's lawsuit as a tactic to force American Airlines to surrender routes and slots.
The proposed merger of U.S. Airways and American Airlines ran into major turbulence on Tuesday as the Justice Department and six state attorneys general filed an antitrust suit aimed at blocking the deal. Justice Department officials said the merger would eliminate competition and put consumers at risk of higher prices.
The New York Department of Financial Services has issued subpoenas to several companies using the virtual currency Bitcoin for more information on how they do business. Audie Cornish talks to Jerry Brito, senior research fellow at the Mercatus Center at George Mason University, about the complications of regulating digital money.
Power companies all over the country are in the process of replacing old residential meters with new digital smart ones. These meters transmit real time data back to the utilities, giving a precise picture of how much electricity customers are using and when. Audie Cornish talks to Severin Borenstein — director of the University of California Energy Institute — about the technology.
William Ackman, a controversial hedge fund manager, has resigned from the board of the J.C. Penney Company. Ackman is Penny's largest shareholder and had been engaged in a public dispute with the board over who should lead the struggling retailer.
Chipotle isn't changing its ban on meat raised with antibiotics after all, despite headlines to the contrary, a spokesman for the Mexican-fast-food chain tells NPR. According to an official statement from Chipotle, the chain's antibiotic ban still stands. For now.
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