Business

6:43am

Fri April 27, 2012
The Two-Way

Economy Grew At 2.2 Percent Rate In First Quarter

Originally published on Fri April 27, 2012 7:12 am

The U.S. economy grew at a 2.2 percent annual rate in the first quarter of the year, according to the Bureau of Economic Analysis.

That's down from the 3 percent pace in fourth-quarter 2011, but is still better than the 1.7 percent growth for all of last year.

The first-quarter figure will be revised twice, in each of the next two months.

We'll have more about the report shortly.

Update at 8:47 a.m. ET. Behind The Numbers:

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3:12am

Fri April 27, 2012
Business

The Last Word In Business

Originally published on Fri April 27, 2012 5:46 am

Sales of previously owned homes are up more than 10 percent from last year, according to The Wall Street Journal. At the same time, the number of homes for sale is at the lowest levels in years. The result, say many real estate firms, is that most of the offers being made these days come with competing bids.

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3:12am

Fri April 27, 2012
Business

Amazon's Profits Exceed Wall Street's Expectations

Originally published on Fri April 27, 2012 5:24 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with impressive earnings for Amazon.

(SOUNDBITE OF MUSIC)

INSKEEP: Amazon released its first-quarter earnings for 2012, which far exceeded Wall Street expectations. As NPR's Steve Henn reports, that sent Amazon's stock price soaring.

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12:49am

Fri April 27, 2012
Planet Money

When Should A Country Abandon Its Own Money?

Originally published on Mon May 7, 2012 10:16 am

Enough already with the krona?
Jesse Garrison Flickr

Iceland is a tiny nation in a big financial mess. It's still recovering from the aftermath of the 2008 global economic crisis, which caused a domestic banking collapse.

Its currency, the krona, is also in really bad shape. That's led Icelanders to pose an existential currency question: Should they abandon the krona?

One key problem is size. Iceland has about as many people as Staten Island, so there just aren't that many people on the planet who need to use the krona.

"There are more people using Disney dollars," says Arsaell Valfells, an Icelandic economist.

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8:57am

Thu April 26, 2012
Planet Money

Why The Postal Service Doesn't Want To Be Rescued

Originally published on Fri April 27, 2012 6:02 am

Joe Raedle Getty Images

A bill passed by the Senate yesterday would help U.S. Postal Service keep post offices around the country open, NPR reports.

The Postal Service is not pleased.

The key issue: The Postal Service, which loses $25 million every single day, wants to save money by closing hundreds or thousands of post offices and shifting services to places like grocery stores.

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