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.

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11:15am

Wed May 20, 2015
Law

'Cartel' Of 4 Big Banks To Plead Guilty To Gaming The Exchange Rate

Originally published on Wed May 20, 2015 12:09 pm

Four major banks — Citicorp, JPMorgan Chase, Barclays and the Royal Bank of Scotland — have agreed to plead guilty to currency manipulation and pay over $5 billion in fines. Officials say that traders from the banks, who allegedly called themselves "the cartel," used secret codes to manipulate the exchange rate between U.S. dollars and Euros. Meanwhile, the Justice Department has taken the unusual step of tossing out what's called a deferred prosecution agreement against a fifth bank.

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10:11am

Tue May 12, 2015
Business

Verizon Acquires AOL For $4.4 Billion

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

5:19pm

Fri May 1, 2015
All Tech Considered

The Annual Shareholders' Meeting Will Now Come To Order Online

Originally published on Fri May 1, 2015 9:18 pm

Dynegy is one of a growing number of companies to hold meetings online.
Dynegy/Broadridge

The annual meeting is a staple of corporate life. It's a chance for even a small shareholder to take the measure of a company's managers, to ask a question or express a beef about a company actions.

But here's the dirty secret about shareholder meetings: Unless the company is huge or there's some controversy going on, hardly anyone shows up.

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9:33am

Sat April 25, 2015
Business

Who, Or What, Crashed The Market In A Flash In 2010?

Originally published on Mon April 27, 2015 2:15 pm

A reporter stands outside the front door of a house registered to a trading company operated by Navinder Singh Sarao in Hounslow, west of London. on April 22, 2015. Sarao was arrested in connection with the Wall Street flash crash of 2010.
Adrian Dennis AFP/Getty Images

It has been five years since the so-called flash crash on Wall Street raised big questions about computerized trading. What caused the flash crash has been a topic of debate ever since. U.S. officials revived the debate this week by arresting a little-known trader in London.

May 6, 2010 started out as an ordinary trading day on Wall Street. Then, at around 2:45 in the afternoon, the Dow Jones Industrial Average plunged nearly 600 points within the space of a few minutes, before correcting itself.

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4:51pm

Wed April 22, 2015
Business

Comcast, Time Warner Push For Merger Approval Amid Opposition

Originally published on Thu April 23, 2015 8:17 am

Federal regulators are considering whether to approve the proposed $45 billion merger of Comcast and Time Warner Cable.
Joe Raedle Getty Images

Officials of Comcast and Time Warner Cable met Wednesday with federal regulators to discuss the companies' proposed $45 billion merger. The deal would create a single company that would control large parts of the cable TV and broadband Internet markets.

A published report said recently that Justice Department staff members have decided to oppose the deal on antitrust grounds. But company officials are using a lot of firepower to get the deal approved.

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7:47am

Sun April 19, 2015
Europe

Greece Risks Losing Future Bailout Funds

Originally published on Sun April 19, 2015 11:00 am

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

RACHEL MARTIN, HOST:

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5:51pm

Thu April 16, 2015
Asia

New Asian Development Bank Seen As Sign Of China's Growing Influence

Originally published on Fri April 17, 2015 12:54 am

Chinese Finance Minister Lou Jiwei (left) speaks during the signing ceremony of the Asian Infrastructure Investment Bank, Oct. 24, in Beijing.
Getty Images

China says 57 countries have signed on as charter members of the new China-backed Asian Infrastructure Investment Bank. They include some of the United States' closest allies, which added their names despite pressure from the White House not to join.

The Obama administration is concerned the new bank will compete with Western-led institutions like the World Bank and the International Monetary Fund, but leaders of those institutions don't seem to be worried.

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4:13pm

Wed April 8, 2015
Business

Shell's Big Deal Could Shift Global Landscape Of Gas Business

Originally published on Wed April 8, 2015 6:23 pm

Copyright 2015 NPR. To see more, visit http://www.npr.org/.

Transcript

MELISSA BLOCK, HOST:

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7:39am

Sun March 29, 2015
Asia

How Singapore Became One Of The Richest Places On Earth

Originally published on Sun March 29, 2015 10:33 am

A couple enjoys the view of Singapore's financial center. Conservatives saw Singapore as a free-market success story, but Lee Kuan Yew's government played a big role in the economy.
Wong Maye-E AP

Singapore has been called the 20th century's most successful development story.

"I don't think any other economy," says Linda Lim, an economist at the University of Michigan, "even the other Asian tigers, have that a good a statistical record of rapid growth, full employment, with very good social indicators — life expectancy, education, housing, etc. — in the first 20 years," she says.

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3:41am

Tue March 24, 2015
Business

For Banks 'Too Big To Jail,' Prosecutors Count On A Promise To Behave

Originally published on Tue March 24, 2015 2:49 pm

The logo of Swiss bank UBS is seen at the company's headquarters in Zurich. U.S. officials are investigating whether UBS and Barclays manipulated currency rates at a time when they were already operating under a deferred prosecution agreement for manipulating interest rates.
Arnd Wiegmann Reuters/Landov

Last week, a top Justice Department official issued a tough warning to banks and other corporations that repeatedly commit crimes. She said U.S. officials could do away with their deferred-prosecution agreements.

Such deals allow companies that have broken the law to escape criminal convictions by promising to clean up their act. A new book looks at the role these agreements play in the corporate world.

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6:39pm

Fri March 13, 2015
Business

Lumber Liquidators Defends Its Products After '60 Minutes' Report

Originally published on Fri March 13, 2015 8:00 pm

A man walks past a Lumber Liquidators store in Philadelphia. The retailer says it stands by its products and will pay for the safety testing of laminate floors.
Matt Slocum AP

Earlier this month, the flooring retailer Lumber Liquidators got the kind of attention companies dread. CBS' 60 Minutes did a story saying the company's products have unsafe levels of formaldehyde, a known carcinogen.

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4:54pm

Wed March 11, 2015
Business

Targeting Unions: Right-To-Work Movement Bolstered By Wisconsin

Originally published on Wed March 11, 2015 10:40 pm

Wisconsin Gov. Scott Walker became a Republican political star by taking on his state's public employee unions. This week he signed a bill that would weaken private-sector unions.
Cliff Owen AP

This week, Wisconsin became the nation's 25th right-to-work state. It passed a law saying workers cannot be forced to join labor unions, or pay union dues, to keep a job.

There's a concerted effort in many states to pass laws that would weaken the power of labor unions. But unions and their allies are also fighting back in many places.

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6:16pm

Tue February 17, 2015
Economy

Study Suggests Recession, Recovery Have Not Left The Rich Richer

Originally published on Fri February 20, 2015 2:56 pm

Maggie Barcellano prepares dinner in January 2014 at her father's house in Austin, Texas. Barcellano, who lives with her father, enrolled in the food stamps program while she works as a home health aide and raises her 3-year-old daughter. A study suggests that social safety nets, including food stamps, helped cushion income losses for middle- and working-class Americans during the recession.
Tamir Kalifa AP

The Great Recession exacted a huge toll on people in every income group, and recovering from it has been a long and grueling process.

To some economists, the recovery has exacerbated the very real trend toward income inequality in the United States. French economist Thomas Piketty has noted that between 2009 and 2012 incomes have grown, but almost all of those gains have gone to the wealthiest 1 percent.

It's a claim that has been repeated often, but Steven Rose of George Washington University says it needs to be put in perspective.

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5:50pm

Thu February 12, 2015
Business

Obama's Plan To Tax Overseas Earnings Draws Scrutiny

Originally published on Sun February 15, 2015 12:01 pm

American companies have about $2 trillion in overseas accounts — money they could be using to hire workers and pay dividends in the United States. But they're reluctant to do so, in part because of the way the U.S. tax system works.

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1:44am

Mon February 9, 2015
Business

Leaked HSBC Documents Shed Light On Swiss Banking Industry

Originally published on Mon February 9, 2015 4:59 pm

Kirsty Wigglesworth AP

A huge trove of leaked documents is shedding new light on the secretive Swiss banking industry.

The documents were downloaded by a former computer security expert at the giant bank HSBC, and they were released over the weekend by the International Consortium of Investigative Journalists.

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