Business & Education

If you have a savings account you probably already know this: Your money there is losing value to inflation. Yields are so low that returns are not even keeping up with the cost of living.

I've been watching some of my own savings dwindle. And that prompted me to take up a challenge: I'm taking $5,000 from personal savings and putting it to work. I'm not a financial whiz, pundit or any kind of guru.

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ROBERT SIEGEL, HOST:

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

MELISSA BLOCK, HOST:

And I'm Melissa Block.

The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes. Yesterday, Senate investigators released a study describing how the maker of the iPhone, iPad and Mac computers used subsidiaries based in Ireland to avoid income taxes on a big chunk of its global profits.

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ROBERT SIEGEL, HOST:

Jamie Dimon, the chairman and CEO of JP Morgan Chase, has beaten back the most significant challenge to his leadership since he took charge. Company shareholders turned down a proposal that would have taken away one of his titles.

But as NPR's Jim Zarroli reports, shareholders made clear they are unhappy about the performance of some board members.

The tech industry is getting a lot in the Senate's immigration overhaul bill. It increases the number of temporary worker visas for skilled technical workers but the industry is pushing for more, including the end of provisions meant to protect American tech workers from unfair competition. The industry's goals and tactics are antagonizing other groups that want to see the bill pass.

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ROBERT SIEGEL, HOST:

Now, the cash register re-imagined. Paying for things online with your mobile phone can be as easy as paying with cash but digital payment companies, like PayPal and Square, think the big money for them is still at the register. So they're rushing head-long into brick-and-mortar retail, eager for new ways to make old-fashioned money.

From member station WHYY, Zack Seward has the story.

Microsoft unveiled its new Xbox One Tuesday, displaying a device that takes new steps in game consoles' journey to becoming all-purpose entertainment and communication devices. The new console replaces the Xbox 360, which has been on the market for nearly eight years.

Health insurance deductibles typically only go one direction: up.

It's not unusual for people these days to be responsible for paying thousands of dollars in medical claims before most plan benefits kick in.

Arrested Development returning via Netflix? Just another old-media brand reviving itself on new media.

The TV show, which originally ran on Fox from 2003 to 2006 and unveils new episodes on Netflix next weekend, finds itself in splendid company. Radiohead, Louis C.K., Veronica Mars — all found their audiences with promotion and distribution from big studios and networks. Radiohead was signed to a major music label. Louis C.K. enjoyed HBO specials and TV shows. And Veronica Mars ran on two TV networks for three years.

Apple CEO Timothy Cook made a rare appearance on Capitol Hill on Tuesday, testifying after congressional investigators revealed that Apple avoided billions in taxes. Reporter Charles Duhigg of The New York Times and guest host Jennifer Ludden talk about how, as Duhigg writes, "technology giants have taken advantage of tax codes written for an industrial age."

People who use Airbnb, the web company that pairs travelers with residents who rent out their homes on a short-term basis, are breaking New York City's laws, according to an administrative law judge. The vacation rental business was found to run afoul of the city's occupancy code; it also doesn't conform with a state law.

JPMorgan Chase shareholders voted on Tuesday to allow Jamie Dimon to continue being their chairman and CEO.

The AP reports:

"At the bank's annual meeting, 32 percent of shareholders voted for a measure that would have required the bank to split the roles. Had the measure succeeded, Dimon would have had to relinquish the role of chairman.

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DAVID GREENE, HOST:

We'll NPR's business news with Boeing still dreaming.

(SOUNDBITE OF THEME MUSIC)

GREENE: Boeing's Dreamliner took off yesterday - it was a United Airlines flight from Houston to Chicago. This was the first time the fuel-friendly jet was back in U.S. skies in nearly five months. The 787 planes had been grounded since January because of battery problems, which cost United roughly $11 million in revenue.

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STEVE INSKEEP, HOST:

Tumblrese.

DAVID GREENE, HOST:

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")

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WARREN BUFFETT: Hey, kids, Warren Buffett here. A successful business is always trying new things.

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STEVE INSKEEP, HOST:

We are also following a subtler story of economic devastation, even with all the news about unemployment in Europe, this next number is hard to absorb. In Italy, among younger people, the jobless rate us close to 40 percent. The government is focused on the middle-aged and the elderly leaving little room it seems for their kids

Here's NPR's Sylvia Poggioli.

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DAVID GREENE, HOST:

Yahoo's purchase of the blogging site Tumblr sent shockwaves through the Tumblrverse. Is that actually a word now?

WNYC's Ilya Marritz reports that the site's users want to keep Tumblr out of the mainstream.