John Ydstie

E.U. Eases Some Austerity Measures

John Ydstie — Fri, 31 May 2013 09:16:00 +0000

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This is MORNING EDITION from NPR News. I'm Renee Montagne.

While there are many signs that the American economy is picking up steam, in much of the European Union, the opposite is true.

Apple CEO Defends Tax Practices At Senate Hearing

John Ydstie — Tue, 21 May 2013 20:41:00 +0000

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And I'm Melissa Block.

The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes.

CEO Cook To Defend Apple Before Senate Committee Hearing

John Ydstie — Tue, 21 May 2013 08:24:00 +0000

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S.

Obama Names OMB Controller As Acting IRS Commissioner

John Ydstie — Fri, 17 May 2013 09:25:00 +0000

On Thursday, President Obama named Daniel Werfel, 42, acting IRS commissioner. The announcement comes a day after the resignation of Steven Miller, who got caught up in the controversy over the IRS targeting Tea Party groups.

Yen's Drop In Value Could Fuel Curency War

John Ydstie — Thu, 16 May 2013 08:24:00 +0000

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STEVE INSKEEP, HOST:

Japan's economy is finally getting a lift. The stock market is soaring there. Companies like Toyota and Sony are seeing a surge in profits. And today, Japan's government reported the economy grew a three-and-a-half percent annual rate in the first three months of the year, a significant improvement.

Now, the government has prodded growth by causing the value of the currency, the yen, to decrease against other currencies like the dollar. That affects the price of everything Japan buys and sells - for example, dropping the price of Japanese exports.