Here's some news for travelers. If you can't afford - or don't want to pay the price for - a hotel room, maybe you've used the cheap lodging site Airbnb. If so, you have to take New York City off your list. The popular website has suffered a major setback in court. A judge in New York ruled that an Airbnb user in Manhattan violated local laws when he rented a room to an out-of-towner.
As you heard, repairing the physical damage to Moore, Oklahoma will take a long time. Reducing that time and the damage these storms cause is something Andrew Graettinger is working on. He's a civil engineer, a professor at the University of Alabama, and he was part of a study that looked at the structural impact of the 2011 tornados that ripped through Joplin, Missouri and Tuscaloosa, Alabama. He joins us now. Good morning, Dr. Graettinger.
NPR's business news starts with Home Depot raising the roof.
Home Depot got a boost from the housing recovery in its first-quarter net income. It rose 18 percent; that exceeds expectations. The company acknowledged yesterday that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.
Home Depot's stock price rose by 2.5 percent with the news. Transcript provided by NPR, Copyright NPR.
Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.
Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.
A worker chips away at Jerusalem stone, likely destined for a building facade somewhere in the world. Stone and marble is a big business in Palestinian towns near Bethlehem. Quarries are in Israeli-controlled areas, and access can be a challenge.
Credit Emily Harris/NPR
Rami El-Zogheir (right), general manager of Hebron's Golf & Horse Footwear, says he's ready to expand into other Arab markets. All he needs, he says, are assurances that the political situation will at least stay the same, if not improve.
U.S. Secretary of State John Kerry heads back to Israel and the West Bank on Thursday for more talks on restarting peace negotiations between Israelis and Palestinians. When he was there last month, he walked away with at least one agreement — to improve the West Bank economy. Here's how he put it as he left Israel:
It's exactly the sort of futuristic thinking you'd expect from Google and NASA: Late last week, the organizations announced a partnership to build a Quantum Artificial Intelligence Lab at NASA's Ames Research Center.
The most unforgiving criticism in sport is directed at any athlete who fans believe is celebrated too excessively above his true talent level — especially those stars who are gloried because they're such pretty people.
And let's return now to our top story, that devastating tornado that struck south of Oklahoma City yesterday. President Obama spoke just moments ago at the White House. He offered words of comfort to the people of Moore, Oklahoma.
PRESIDENT BARACK OBAMA: What they can be certain of is that Americans from every corner of this country will be right there with them, opening our homes, our hearts to those in need, because we're a nation that stands with our fellow citizens.
And today's last word in business is: almost millionaires.
INSKEEP: Warren Buffett took time yesterday to listen to kids pitching potential new enterprises. These are kids who competed through Buffett's Secret Millionaires Club, a Web and cable series featuring a cartoon.
(SOUNDBITE OF WEB CARTOON, "SECRET MILLIONAIRES CLUB")
(SOUNDBITE OF MUSIC)
WARREN BUFFETT: Hey, kids, Warren Buffett here. A successful business is always trying new things.