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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Five and a half years after the financial crisis that devastated the global economy, U.S. officials are taking steps to strengthen the nation's banking system. Today, the Federal Reserve and the Federal Deposit Insurance Corporation approved tough new rules that require banks to hold a lot more capital on their books. Regulators say the requirements will reduce the risk of bank failures during bad economic times.

The FBI and the Securities and Exchange Commission revealed this week that they're both investigating the world of high-frequency stock trading. They did so at a time when a new book on the subject, Flash Boys by Michael Lewis, is causing an uproar on Wall Street.

To read Lewis' book is to be reminded of how drastically the stock market has changed in a decade — and how opaque it remains. Lewis says this opacity serves to cover up some disturbing developments.

Caterpillar executives are on Capitol Hill answering questions about the company's tax returns. Caterpillar is accused of shifting money abroad to avoid billions in taxes. Company officials say Caterpillar has followed the law.

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The crisis in Ukraine is raising new questions about Russia's role in the energy markets. Moscow has long used exports of oil and natural gas to win political concessions from countries on its borders. Europe gets a quarter of its natural gas from Russia.

As NPR's Jim Zarroli reports, that's making a lot of people there nervous.

Five of Bernie Madoff's former employees were found guilty of helping him fleece investors of $17 billion. They were convicted on charges of securities fraud, conspiracy and tax evasion.

Herbalife shares dropped on news the Federal Trade Commission is investigating the company. After shorting Herbalife's stock, hedge fund manager Bill Ackman's been lobbying politicians to investigate.

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Top executives at one of Switzerland's biggest banks said today they're sincerely trying to prevent tax evasion by U.S. citizens. They also said conflicting laws in the two countries make it almost impossible to do that. The chief executive of Credit Suisse appeared before the Senate Permanent Subcommittee on Investigations, which has been looking into the use of secret Swiss bank accounts by Americans.

Here's NPR's Jim Zarroli.

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Netflix is hoping that a deal it has struck with Comcast will mollify some of its unhappy customers. The company announced yesterday that it will pay to connect Comcast's broadband network more directly. That means Netflix customers should get faster, smoother access to programs like "House of Cards." The deal could serve as a model to help the company resolve disputes with other big Internet service providers.

NPR's Jim Zarroli reports.

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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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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.

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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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.

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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Officials of 159 countries have taken a big step forward in promoting global trade. This happened over the weekend at World Trade Organization talks in Indonesian.

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JIM ZARROLI, BYLINE: The countries attending the WTO meeting agreed to a treaty that they say will lower trade barriers and speed up the passage of goods across borders. Officials say the deal could increase global trade by nearly a trillion dollars over time and also create millions of jobs.

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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NPR's business news begins with liking the way they look.

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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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