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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4:06pm

Mon August 25, 2014
Business

To Make A Move North, Burger King Eyes Buying A Canadian Icon

Originally published on Tue August 26, 2014 2:08 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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4:31pm

Fri August 22, 2014
Parallels

Argentina Crisis Puts Focus On Role Of Distressed-Debt Funds

Originally published on Fri August 22, 2014 8:09 pm

A woman in Buenos Aires walks with her dog past a mural that reads "Vultures" in Spanish. The mural is a reference to the dispute between the Argentine government and U.S. hedge funds.
Victor R. Caivano AP

The legal battle between Argentina and its creditors grinds on with no sign of a resolution anytime soon. The dispute pits the government against two New York hedge funds that specialize in buying distressed debt.

These hedge funds bought Argentina's bonds at fire-sale prices and now stand to make huge profits off the country's financial troubles. But they've encountered a lot of resistance from the government.

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4:10pm

Thu August 21, 2014
Law

Bank Of America Settles With Feds And States For Record Amount

Originally published on Thu August 21, 2014 6:24 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

1:07pm

Thu August 21, 2014
Business

Bank Of America Settles Mortgage Case For $16.65 Billion

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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4:09pm

Thu August 14, 2014
Europe

Once-Thriving Heart Of The Eurozone Stagnates

Originally published on Thu August 14, 2014 6:35 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

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4:19pm

Thu August 7, 2014
Business

White House Seeks Ways To Go It Alone In Keeping Companies Stateside

Originally published on Thu August 28, 2014 6:43 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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11:23am

Sat August 2, 2014
World

Sanctions Target Russian Oil, But Will That Persuade Putin?

Originally published on Wed August 27, 2014 12:48 pm

An oil refining factory owned by the Russian company Rosneft, outside the town of Achinsk, Russia, in 2013. The company says that hundreds of sites are being explored throughout the country as potential sources of oil and gas — but to tap those sites, Russia depends on Western companies.
Ilya Naymushin Reuters/Landov

Both the United States and Europe announced new economic sanctions this week against Russia for its role in the conflict in Ukraine. Among other things, Western companies will no longer be able to sell Russia new technologies to develop its oil fields.

The move comes at a time when oil exports have become more important than ever for the Russian economy.

President Obama says the sanctions are meant to send a strong message:

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5:29am

Thu July 31, 2014
Latin America

Argentina Is In Default. What Does That Actually Mean?

Originally published on Thu July 31, 2014 8:12 am

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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4:08pm

Wed July 30, 2014
Latin America

Late Rally From Argentina Fails To Delay Default

Originally published on Wed July 30, 2014 10:09 pm

Argentina Economy Minister Axel Kicillof speaks during a news conference at the Argentina Consulate on Wednesday in New York. By the end of the day, a deal had not been reached with the country's creditors.
Stan Honda AFP/Getty Images

Talks aimed at resolving Argentina's debt crisis have broken down in New York. A court-appointed mediator has declared that the country will go into default. It is the second time the country has defaulted in about 12 years.

With a midnight deadline looming, the government and its creditors walked away without a deal late Wednesday.

Argentina has been waging a protracted legal battle with a small number of bondholders. They want to be paid in full for bonds they purchased years ago.

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4:13pm

Mon July 28, 2014
Europe

International Court Rules Against Russia In $50 Billion Decision

Originally published on Mon July 28, 2014 7:40 pm

Russia says it will appeal an unfavorable decision by a court in The Hague. The Permanent Court of Arbitration awarded $50 billion to shareholders of the defunct Yukos oil company. Russia seized the company in 2003 and put owner Mikhail Khodorkovsky in jail on tax and fraud charges.

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5:55am

Mon July 28, 2014
Latin America

Locked In U.S. Hedge Fund Battle, Argentina Faces Default

Originally published on Mon July 28, 2014 1:52 pm

Copyright 2014 NPR. To see more, visit http://www.npr.org/.

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6:13am

Thu July 24, 2014
Economy

How High Debt From The Housing Collapse Still Stifles Our Economy

Originally published on Thu July 24, 2014 1:05 pm

An artist's installation shows pre-foreclosed homes in Newark, N.J., in July 2009 at the Queens Museum of Art in New York City.
Mario Tama Getty Images

"Foreclosure, foreclosure, foreclosure."

Real estate broker John Susani drives down a Paterson, N.J., street where every third house seems to be abandoned or boarded up. During the boom years, money flooded into Paterson.

"The banking industry allowed everyone to be a homeowner; they gave mortgages to people [just because they were] breathing," Susani says.

In some cases, he says, home prices jumped as much as 50 percent. The homes on these streets aren't worth nearly that much anymore.

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4:15pm

Mon July 14, 2014
Law

Citigroup Agrees To $7 Billion Fine For 'Egregious' Misconduct

Originally published on Mon July 14, 2014 6:24 pm

Citigroup has agreed to pay $7 billion to settle claims that it committed fraud when it sold mortgage-backed securities in the years leading up to the financial crisis. Most of the money will be paid to the U.S. Treasury, but some will be used to provide mortgage relief to struggling homeowners.

12:34pm

Mon July 14, 2014
Business

Citigroup Settles Subprime Mortgage Case For $7 Billion

Transcript

STEVE INSKEEP, HOST:

Citigroup has agreed to settle allegations that it defrauded investors in the years leading up to the financial crisis. The settlement requires Citigroup to pay $7 billion. Two and a half billion will go toward mortgage relief for homeowners. Now, this settlement involves mortgage-backed securities the bank packaged and sold to investors, and it was announced this morning by U.S. Attorney General Eric Holder. We're going to talk this through with NPR's Jim Zarroli who's on the line. Jim, good morning.

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4:13pm

Tue July 8, 2014
Latin America

With Default 23 Days Away, A Little Clause Could Cost Argentina Big

Originally published on Tue July 8, 2014 9:20 pm

Transcript

ROBERT SIEGEL, HOST:

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

MELISSA BLOCK, HOST:

And I'm Melissa Block. The clock is ticking for Argentina. Yes, in the World Cup, but here, we're talking about its effort to prevent another debt crisis. Argentina has until the end of this month to pay its bondholders or it risks going into default. As NPR's Jim Zarroli reports, the dispute hinges on one particular clause in the country's debt contracts that could cost the country billions of dollars.

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