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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All Tech Considered
6:46 pm
Thu February 20, 2014

Video Streaming Is Straining, But Who Will Ease The Tension?

Internet service providers are having trouble keeping pace with growing demand for video streaming services. But there's disagreement over how to fix the problem.
iStockphoto

Originally published on Fri February 21, 2014 2:16 pm

Suzie Felber's kids are only just learning what a commercial is.

"They start screaming when they come on," she says. "They think the TV's broken."

The Felbers usually stream television shows over the Internet in their New Jersey home.

More and more people are following suit, using services such as Netflix and Amazon Prime. But these programs take up a huge amount of digital bandwidth, and that's led to a dispute between these services and the Internet service providers that carry them.

Slower Service

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Law
5:54 pm
Tue February 4, 2014

Senate Steps Into The Data Breach Controversy

Originally published on Tue February 4, 2014 8:00 pm

Transcript

AUDIE CORNISH, HOST:

A top executive at the retail chain Target went to Capitol Hill today to try to explain the massive security breach that hit the company in December. Hackers stole personal information of tens of millions of Target customers during the holiday shopping season. The incident has underscored the increasing sophistication of cyber criminals and the vulnerability of big retailers. NPR's Jim Zarroli has more on the hearing.

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Economy
4:52 pm
Mon February 3, 2014

The Dow Drops Again, But What's Driving The Sell-Off?

Originally published on Mon February 3, 2014 7:33 pm

Transcript

MELISSA BLOCK, HOST:

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

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

The stock market had one of its worst days in months today after some disappointing news about manufacturing. The Dow Jones Industrial Average fell more than 300 points, about two percent. The other major indexes were down even more.

NPR's Jim Zarroli tells us investors are reacting to new concern about the health of the global economy.

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Economy
5:08 pm
Tue January 28, 2014

Days Of Turmoil Test Stability Of Emerging Markets

Originally published on Tue January 28, 2014 6:55 pm

Transcript

ROBERT SIEGEL, HOST:

After losing a lot of ground, stock prices were back up a bit today. Investor anxiety about the state of the world's currency markets seemed to ease. The current turmoil is reminiscent of the 1997 currency crisis in Asia, which hurt economies all over the world.

As NPR's Jim Zarroli reports, there are also some big differences.

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Economy
6:32 pm
Thu January 23, 2014

Study: Upward Mobility No Tougher In U.S. Than Two Decades Ago

The study did reveal widespread disparity in upward mobility based on geography. For those hoping to climb the economic ladder, San Francisco is one of the best places to live, the study found.
Justin Sullivan Getty Images

Originally published on Fri January 24, 2014 5:32 pm

A new study finds that contrary to widespread belief, it's no harder to climb the economic ladder in the United States today than it was 20 years ago.

But the study did find that moving up that ladder is still a lot more difficult in the U.S. than in other developed countries.

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Health Care
5:12 pm
Tue January 14, 2014

The Young And Restless May Cause Drama For ACA

Originally published on Tue January 14, 2014 6:33 pm

Transcript

MELISSA BLOCK, HOST:

After a slow start, the Affordable Care Act is now attracting customers at a healthier pace. The government said yesterday that 2.2 million people have signed up for health insurance under the state and federal exchanges. But there's a serious red flag. A disproportionate number of new enrollees are middle aged or older.

Here's NPR's Jim Zarroli on what that means for the program and for insurers.

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Business
2:19 pm
Tue January 7, 2014

JPMorgan Chase Settles Madoff Case For $1.7 Billion

Originally published on Wed January 8, 2014 6:56 am

JPMorgan Chase & Co. has agreed to pay $1.7 billion to settle criminal charges accusing the bank of ignoring obvious warning signs of Bernard Madoff's massive Ponzi scheme.

Business
2:30 am
Mon December 23, 2013

After Target's Data Breach, Customer Incentive Disappoints

Justin Sullivan Getty Images

Originally published on Mon December 23, 2013 9:06 am

Target is trying to get back in its customers' good graces after a massive data breach affecting some 40 million credit and debit account holders. The giant retail chain offered its customers a 10 percent discount over the weekend as an act of atonement, but business was said to be down anyway.

The breach affected customers who used their credit and debit cards at one of Target's 1,750 stores during a three-week period after Thanksgiving.

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Europe
6:56 pm
Sun December 15, 2013

Ireland Exits Bailout Program, But Economy Still On The Mend

On Sunday, Ireland became the first country to formally exit the bailout program funded by the International Monetary Fund and the European Union.
Peter Muhly AFP/Getty Images

Originally published on Mon December 16, 2013 8:24 am

Ireland was one of the countries hardest hit by Europe's debt crisis. On Sunday, it passed a big milestone when the nation became the first country to formally exit the bailout program funded by the International Monetary Fund and the European Union.

After three years of the bailout program, it isn't hard to find signs of improvement in Ireland and of an economy coming back from the dead.

"Don't get me wrong, it's been bad in a lot of ways, but there's a silver lining in every cloud," says Conor Mulhall, a 41-year-old father of three.

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Around the Nation
5:43 pm
Sun December 1, 2013

The Latest From The New York Train Derailment

Originally published on Sun December 1, 2013 7:55 pm

Transcript

ARUN RATH, HOST:

It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.

A commuter train derailed as it was heading into Manhattan this morning, killing four people and injuring more than 60. Witnesses say the train appeared to be going too fast as it rounded a curve just north of a train station in the Bronx. The National Transportation Safety Board is trying to piece together what happened.

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Health Care
7:47 am
Sat November 30, 2013

A New Worry Looms Online For The Affordable Care Act

Insurance companies say they are finding numerous mistakes on a digital form that's essential for signing up through HealthCare.gov.
AP

Originally published on Sat November 30, 2013 3:13 pm

Saturday is the day the Obama administration promised it would have HealthCare.gov working smoothly for the majority of people who need to sign up for health insurance.

As the Obama administration scrambles to fix the glitch-plagued site, experts are beginning to worry about another problem that may further impair the rollout of the Affordable Care Act.

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Business
5:03 am
Wed November 27, 2013

Men's Wearhouse Goes 'Pac-Man' On Joseph A. Bank

Originally published on Wed November 27, 2013 5:25 am

The retail company Men's Wearhouse has announced it is launching a takeover battle for rival Joseph A. Bank. What makes the effort unusual is that just last month Joseph A. Bank was trying to take over Men's Wearhouse. The turnaround is an example of what Wall Street calls a Pac-Man defense.

Business
6:00 pm
Fri November 22, 2013

JPMorgan Says It Broke No Law. So Why Pay The $13 Billion?

The U.S. government says JPMorgan Chase & Co. knowingly sold faulty mortgage-backed securities in the years leading up to the financial crisis. The bank says it's broken no laws.
Emmanuel Dunand AFP/Getty Images

Originally published on Sat November 23, 2013 1:20 am

State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.

But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.

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Business
4:50 am
Fri November 15, 2013

Health Care Cancellation Cure Could Lead To Higher Premiums

Originally published on Fri November 15, 2013 10:49 am

The health care fix announced by President Obama on Thursday may be good news for some consumers, but it creates a big headache for insurance companies and regulators. An insurance industry trade group warns the last-minute change could destabilize the market and lead to higher premiums.

Business
4:42 am
Wed November 6, 2013

Sprecher Slams High-Speed Electronic Exchanges

Originally published on Wed November 6, 2013 5:26 am

The CEO of the firm that's about to take over the New York Stock Exchange has criticized alternative market trading. Jeffrey Sprecher said equity markets, including the NYSE, allow sophisticated traders to take advantage of small investors. He added such models are destined to fail and that people outside the markets have a sense things aren't fair.

Law
4:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 8:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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The Two-Way
6:08 am
Tue September 17, 2013

JPMorgan To Get Whale Of A Fine For Trading Losses

JPMorgan Chase will reportedly pay a $700 million fine to settle allegations that it made risky trades out of its London office that led to more than $6 billion in losses.
Mark Lennihan AP

Originally published on Tue September 17, 2013 9:38 am

Authorities are set to slap banking giant JPMorgan Chase with a massive fine over the bank's huge trading losses in London last year, confirms NPR's Jim Zarroli.

Though details of the deal are still pending, several reports put the amount at more than $700 million. It comes on the heels of the bank's having recently paid $410 million to settle charges that it manipulated energy markets.

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Business
3:46 am
Thu September 12, 2013

5 Years After Financial Crisis, Are Big Banks Still A Threat?

The headquarters of Lehman Brothers in Times Square in 2008, the year the financial services firm filed for bankruptcy.
Hiroko Masuike Getty Images

Originally published on Thu September 12, 2013 11:30 am

It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.

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Business
5:27 am
Wed August 21, 2013

U.S. Retailers Vow To Upgrade Bangladesh's Safety Standards

Originally published on Wed August 21, 2013 12:03 pm

Transcript

RENEE MONTAGNE, HOST:

Some of America's biggest retailers announced new steps yesterday aimed at improving safety standards in Bangladesh's troubled garment industry. Wal-Mart and the Gap were among the companies that formed a group called the Alliance for Bangladesh Worker Safety after the deadliest accident ever in the garment industry.

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Law
5:27 pm
Wed August 14, 2013

Former JPMorgan Chase Traders Charged Over 'White Whale' Bets

Originally published on Fri August 16, 2013 8:40 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Federal prosecutors have charged two former JPMorgan Chase traders with securities fraud. The two men worked in London. And they are part of the so-called London Whale case, which cost the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting lawsuits. More from NPR's Jim Zarroli.

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Parallels
3:08 am
Mon August 12, 2013

Too Much, Too Fast: China Sees Backlash From Massive Growth

Originally published on Mon August 12, 2013 11:25 am

At a time when much of the world is mired in economic torpor, China still enjoys enviable growth rates. Yet there's no question that its economy is growing more slowly these days.

Just ask Yan Liwei, a salesman for a construction materials company, who was visiting a park in Shanghai this weekend.

"The number of new construction projects is declining somewhat. It's taking longer for many of our clients to pay us what they owe," Liwei says. "Many small and midsized developers are feeling a cash crunch."

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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.

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.

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Business
4:33 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.

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