Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

Pages

Business
4:13 pm
Tue July 23, 2013

Steve Cohen Fights Back Against Claims Of Insider Trading

Originally published on Tue July 23, 2013 6:16 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

Billionaire Steven Cohen is fighting back. He faces federal charges that he didn't do enough to prevent insider trading at his hedge fund SAC Capital. As The Wall Street Journal reported this morning, Cohen's firm issued a rebuttal, claiming that he never saw an email that's an important part of the government's case.

Here's NPR's Jim Zarroli.

Read more
NPR Story
5:04 am
Mon July 22, 2013

'Abenomics' Get Vote Of Confidence In Japan

Originally published on Mon July 22, 2013 7:30 am

Transcript

RENEE MONTAGNE, HOST:

And after years of economic stagnation, Japan is experiencing growing confidence. And voters in Japan handed a big victory yesterday to the ruling party in parliamentary elections. The election gives Prime Minister Shinzo Abe and his ambitious economic agenda known as Abenomics quite a boost. NPR's Jim Zarroli reports.

Read more
Business
4:42 am
Wed July 17, 2013

Rising Interest Rates Worry Banking Industry

Originally published on Wed July 17, 2013 5:08 am

Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.

Law
4:17 pm
Mon July 15, 2013

Former Goldman Sachs Vice President Goes On Trial

Originally published on Mon July 15, 2013 6:17 pm

Three years ago the Securities and Exchange Commission filed civil charges against Goldman Sachs and one of its traders, Fabrice Tourre. They were charged with misleading investors over mortgage-backed securities. Goldman settled and agreed to pay $550 million. Tourre's trial began Monday in a Manhattan court room.

Business
4:52 pm
Wed July 10, 2013

Wal-Mart, Gap Join Bangladesh Factory Safety Group

Originally published on Wed July 10, 2013 5:29 pm

Transcript

ROBERT SIEGEL, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Robert Siegel.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

Some of the country's biggest retailers have unveiled an initiative they say will improve conditions for workers on the other side of the world. The move by Wal-Mart, Target, and others is intended to boost safety in Bangladesh garment factories.

NPR's Jim Zarroli reports the plan is a response to the devastating building collapse that killed more than 1,100 people in April.

Read more
Business
4:54 pm
Tue July 9, 2013

Despite Scandal, Wall Street Lines Up To Bid For LIBOR

Originally published on Tue July 9, 2013 6:00 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

On Wall Street, many things are bought and sold, including, occasionally, interest rates. That happened today. The owner of the New York Stock Exchange bought LIBOR, a hugely influential benchmark rate that is set in London. LIBOR is used to set many other interest rates, from credit cards to derivatives contracts.

Read more
NPR Story
5:01 am
Tue July 9, 2013

Alcoa Kicks Off Earnings Season

Originally published on Tue July 9, 2013 5:56 am

Over the next few weeks, thousands of U.S. based publicly traded corporations will be reporting their quarterly results. Within days though, judgments will start to be made on whether the economy is holding up well enough to justify stock prices that are approaching a new peak. Alcoa says it lost more money than expected during the second quarter of this year because of restructuring costs.

Health Care
5:48 pm
Wed July 3, 2013

Delay In Obacamare Implementation Cheered By Employers

Originally published on Wed July 3, 2013 7:25 pm

Transcript

AUDIE CORNISH, HOST:

The Obama administration's decision to delay implementation of a key part of the Affordable Care Act is winning praise from business groups today. The administration has announced it will wait another year before penalizing large employers who fail to offer health care coverage to their workers. The delay gives retail and restaurant companies that had opposed the mandate more time to prepare for the law.

NPR's Jim Zarroli reports.

Read more
Economy
2:28 am
Mon July 1, 2013

Alabama County Files Plan To Exit Bankruptcy

Originally published on Mon July 1, 2013 10:57 am

Alabama's bankrupt Jefferson County has filed a 101-page plan that would force creditors to lose up to 70 cents on the dollar.

In 2011, the county underwent what's been called the largest government bankruptcy in U.S. history. It's in debt by about $4.2 billion.

Because of combination of corruption and poor management, the municipality was unable to repay money it borrowed to upgrade its sewage system.

Read more
Business
5:37 am
Fri June 28, 2013

Feds Sue Jon Corzine Over MF Global Collapse

Originally published on Fri June 28, 2013 7:13 am

Federal regulators have filed civil charges against former New Jersey Governor Jon Corzine in connection with the failure of his commodities firm, MF Global. The government says Corzine failed to stop the firm from dipping into customer funds during a financial crisis in October 2011.

Economy
5:48 pm
Wed June 19, 2013

G-8 Nations Pledge To Crack Down On Corporate Tax Evaders

Leaders take part in the G-8 summit in Northern Ireland on Tuesday. Their discussions included tax-avoidance issues.
Ben Stansall WPA Pool/Getty Images

Originally published on Wed June 19, 2013 10:18 pm

The world's wealthiest nations are promising to fight what they call the scourge of tax evasion. This week's meeting of the Group of Eight industrialized countries concluded with a pledge to end the use of tax shelters by multinational corporations.

But there are still big questions about how they will make a dent in the problem.

In the aftermath of the global recession, countries all over the world have struggled with budget shortfalls. More and more of them have come to blame part of their revenue problems on one culprit — tax avoidance.

Read more
All Tech Considered
6:20 pm
Wed June 12, 2013

Net Giants Try To Quell Users' Jitters About Their Data

Google, like Facebook, Microsoft and other Internet companies, is concerned that data requests from U.S. surveillance agencies could ultimately damage its reputation in the U.S. and overseas.
Justin Sullivan Getty Images

Originally published on Wed June 12, 2013 7:00 pm

Companies like Google and Facebook are very much caught in the middle of the current debate about national security and privacy. Press reports have said the companies are required to turn over huge amounts of customer data to government agencies like the National Security Agency, but the companies are often barred from saying anything publicly about the requests they receive.

Read more
Business
5:23 am
Tue June 11, 2013

Data Leak Could Undermine Trust In Government Contractor

Federal contractor Booz Allen Hamilton, headquartered in McLean, Va., employed Edward Snowden, the computer technician at the center of the controversy over leaks involving the National Security Agency.
Michael Reynolds EPA/Landov

Originally published on Tue June 11, 2013 11:56 am

In recent decades, a quiet revolution has been transforming the way Washington works.

Because the U.S. government does not have the workforce to complete all of its tasks, it employs private companies like Booz Allen Hamilton to do the work for it. Booz Allen is the company where Edward Snowden, who said he leaked secrets about the National Security Agency, most recently worked.

Over the past 25 years, this contract workforce has grown and plays a major role in the U.S. government, says Paul Light, a professor of public service at New York University.

Read more
Business
4:14 pm
Mon June 3, 2013

Investigation Continues At Troubled Hedge Fund

Originally published on Mon June 3, 2013 6:53 pm

Transcript

AUDIE CORNISH, HOST:

The federal probe of a hugely successful hedge fund may have investors ready to pull out much of their money. SAC Capital is under investigation for insider trading. Several published reports indicate outside investors are worried about that investigation and whether it will touch Steven Cohen, the firm's founder.

NPR's Jim Zarroli reports.

Read more
Business
5:54 am
Mon June 3, 2013

Trial To Start In Apple Price-Fixing Dispute

Originally published on Mon June 3, 2013 10:23 am

Transcript

RENEE MONTAGNE, HOST:

And Apple faces off with the Justice Department beginning today in a federal court over a price-fixing dispute. Last year, the government accused Apple of conspiring with five major publishing companies to raise prices on electronic books.

NPR's Jim Zarroli reports.

Read more
Business
5:15 pm
Tue May 28, 2013

Cruise Industry Adopts Passenger 'Rights' As Incidents Mount

Damage on the Royal Caribbean ship Grandeur of the Seas is visible as the ship docks in Freeport, the Bahamas, on Monday.
Reuters/Landov

Originally published on Wed May 29, 2013 8:43 am

About 2,200 passengers were being flown back to Baltimore on Tuesday, a day after their cruise ship caught fire on its way to the Bahamas. There were no injuries aboard Royal Caribbean's Grandeur of the Seas.

But in the wake of the incident and others like it, the cruise ship companies have something of a black eye. The industry is now trying to reassure passengers it's OK for them to sail, adopting what it called a passenger "bill of rights."

Read more
Around the Nation
5:39 am
Sun May 26, 2013

Rebuilding Storm-Damaged New Jersey, One Boardwalk At A Time

People walk on the boardwalk in Seaside Heights, N.J., on Friday. The Jersey Shore beaches officially opened for the summer, after rebuilding following the destruction left behind by Superstorm Sandy last fall. The storm caused $37 billion of damage in the state.
Julio Cortez AP

Originally published on Sun May 26, 2013 2:00 pm

When Hurricane Sandy swept through New Jersey last year, it destroyed many homes and businesses. It also obliterated the boardwalks that are the center of social and economic life in the towns.

In the months since, many of these towns have rushed to rebuild their boardwalks, but not everyone thinks the money has been well spent.

Read more
Business
6:35 am
Wed May 15, 2013

Wal-Mart Won't Sign Pact, Has Own Way To Protect Workers

Following a factory collapse in Bangladesh that killed more than 1,000 people, Wal-Mart has declined to join a multi-company factory safety accord to try to prevent future disasters. Instead, the world's largest retailer announced its own set of inspection and safety measures.

Business
4:21 am
Mon May 13, 2013

Wall Street Complains About Bloomberg Reporters' Access To Info

Originally published on Mon May 13, 2013 8:41 am

Giant financial data company Bloomberg is acknowledging that some of its subscribers were tracked by the company's reporters. The reporters were allowed to see what kind of information the subscribers were looking at and how long it had been since they logged on. The tracking came to light after Goldman Sachs Raised questions about the practice. Over the weekend, the Federal Reserve said it is looking into whether its employees were tracked as well.

Business
5:50 pm
Thu May 9, 2013

Bangladesh's Powerful Garment Sector Fends Off Regulation

Garment workers sew T-shirts at a factory in Dhaka, Bangladesh, in 2009. Bangladesh, the world's second-largest clothing exporter, has lured clothing makers through a combination of low wages and light regulation.
AFP AFP/Getty Images

Originally published on Tue May 14, 2013 5:41 pm

Eight people died Wednesday in a fire at a Bangladeshi sweater factory. This follows the much deadlier collapse of the Rana Plaza building, where more than 900 people died.

The deaths are taking place in a garment sector that has seen explosive growth over the past three decades. The country has managed to lure clothing-makers through a combination of low wages and light regulation.

As a manufacturing center, Bangladesh has little to recommend it. The roads are poor. There's no port to speak of. The electricity is notoriously unreliable. It's politically unstable.

Read more

Pages