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Yahoo! News: Business Fri, 21 Nov 2008 13:43:46 GMT


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NPR Topics: Business Fri, 21 Nov 2008 08:57:00 -0500
  • Cobalt Location A Problem For Lithium-Ion BatteriesA rush to build electric cars could also mean a rush to get minerals that are produced in unstable parts of the world. Lithium-ion batteries require large amounts of cobalt, which comes primarily from the war-torn Democratic Republic of Congo, Tibet and Siberia. Easing dependence on foreign oil could mean increasing dependence on foreign minerals — from even less reliable trading partners than the Persian Gulf states.
  • Car Battery Needs To Keep Going And GoingOne of the buzzwords at the Los Angeles Auto Show is "electrification." It's a future where cars run solely on battery power. Paul Eisenstein of The Detroit Bureau, an independent auto news service, says that future is still a ways off. He tells Steve Inskeep that for electric cars to succeed, they'll need a battery that lasts for more than 100 miles before a recharge.
  • Will Credit Rating Agencies Be Monitored?The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given triple-A ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything?
  • Lending Stalls, Banks On SidelinesStock prices are at six-year lows. Over the past two days the Dow Jones industrial average has lost more than 6 percent of its value. The $700 billion bailout was supposed to stabilize the financial industry and get banks lending again. But that hasn't happened yet.
  • Oil Prices Hovering At 3-Year LowOil prices dipped below $50 a barrel Thursday. That's a nearly two-thirds drop from the record high of more than $147 in July. While that may sound like pleasant news, the low price is actually a symptom of a weak economy. Since many expect the economy to drag for a year or more, oil prices likely will stay low.
  • Citigroup Weighs Company's OptionsThe financial crisis is closing in on Citigroup. The banking colossus has more than 200 million customers around the world. But investors are increasingly worried about Citigroup's financial condition. Its share price tumbled more than 25 percent Thursday. CEO Vikram Pandit is weighing his options, and they include selling off parts of the company or selling the whole company. Citigroup lost half its value this week and is trading at levels not seen since the mid 1990s.
  • Wall Street Too Real? Try Fantasy InvestingSome would-be investors may be too scared to dip their toe into the investment world of stocks and bonds. Now they don't have to worry, and can take the plunge in fantasy investing. It works similarly to fantasy sports leagues. Faux investors are using virtual investing games like "Wall Street Survivor" to learn the real deal.
  • Congress Gives Automakers HomeworkLawmakers are demanding that GM, Ford and Chrysler submit a plan for improvements before they consider a $25 billion aid package for the auto industry. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid say if there's a viable plan, Congress might return to work in early next month for a vote. Some lawmakers wanted Congress to stay in session.
  • Dodd Frustrated By Banks' Use Of Bailout FundsSenate Banking Committee Chairman Christopher Dodd says he's angry that banks are using government-provided funds to pay dividends, for excessive executive compensation and for acquiring other banks. He also says the Treasury has been too slow in addressing the mortgage crisis.
  • Pope Predicted Current Market Collapse In 1985Italy's Finance Minister says Pope Benedict predicted the current financial crisis more than 20 years ago when he was Cardinal Ratzinger. It was in a paper presented at a conference in 1985 called "Market Economy and Ethics." The future pope said a decline in ethics "can actually cause the laws of the market to collapse."
  • Bush Hits Deadline For 'Midnight Regulations'There are now 60 days left until President Bush leaves office and President-elect Barack Obama is sworn in. By law, there is a 60-day waiting period before any big, new federal regulations take effect. That means Friday is the deadline set by the Bush administration to get rules onto the books before the Democrats arrive.
  • Congress Stalls Automakers' Bid For ReliefAfter the Big Three auto executives spent two days seeking support on Capitol Hill for a bailout, the grand finale is no finale at all. Democratic leaders say they are delaying a vote until the auto companies present a plan showing how they will restructure their business.
  • GM, Chrysler Keep Low Profile At L.A. Auto ShowAmid job cuts, restructuring and pleas to Congress for financial aid, General Motors and Chrysler are represented, but not making much of a splash, at this week's Los Angeles Auto Show.
  • Addressing The Threat Of DeflationAs central banks continue to slash interest rates almost to zero, prices can plummet. It creates a liquidity trap, as it did in the 1930s and in Japan during the 1990s. Harvard economist Kenneth Rogoff outlines what deflation could mean for modern America.
  • Restored Fontainebleau Graces Miami BeachThe Fontainebleau Hotel was once the height of Miami Beach sophistication. Now the hotel will reopen after a $1 billion renovation, but it's not clear the Florida economy is ready to support it.