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.

Just as David Bowie left an indelible mark on music, he also played an important but lesser-known role in the world of finance.

In 1997, Bowie became the first musician to package his future royalties into a security that could be bought and sold by investors, an asset that came to be known as a "Bowie bond."

The sale of the bonds to Prudential Securities netted the musician $55 million. They were downgraded to junk by Moody's Securities in 2004, amid a wave of illegal downloading and weak overall music sales.

Already reeling from a series of food-borne-illness outbreaks, Chipotle Mexican Grill now faces a federal criminal investigation, as well.

The company says it has received a subpoena from a federal grand jury in connection with a norovirus outbreak last fall at one of its restaurants in Simi Valley, Calif.

In August, 189 customers were sickened after visiting the restaurant, as well as 18 Chipotle employees, according to Doug Beach, manager of the Community Services Program at the Ventura County Environmental Health Department, in an interview with NPR.

Democratic presidential candidate Bernie Sanders traveled to the heart of the nation's financial sector Tuesday to issue a scathing denunciation of Wall Street and repeat his call to break up the biggest banks.

Chipotle Mexican Grill is struggling to convince its customers it's a safe place to eat, after several outbreaks of foodborne illnesses have sickened hundreds of its customers. But no one thinks the task is going to be easy.

Puerto Rico will default on bond payments worth about $37 million on Jan. 1, as it struggles to contend with a mountain of debt worth $72 billion, government officials said today.

Still, the commonwealth will be able to pay off most of the $328 million it owes on its general obligation debt — but that's only by clawing back some of the money from other government sources, Gov. Alejandro Garcia Padilla noted.

The U.S. economy has improved enough for the Federal Reserve to raise interest rates, but much of the rest of the world remained mired in slow growth and high unemployment in 2015.

And the picture was especially grim in the so-called emerging markets, countries such as Brazil, Russia, Venezuela and South Africa.

What these places share is that they export a lot of oil and other commodities, and they've been hard-hit by the slowdown in China.

The U.S. Fish and Wildlife Service has placed one breed of African lions on its endangered species list, a move aimed at discouraging hunting of the animals at a time when their numbers are dwindling.

A second breed of lion will be designated as threatened, the agency said today.

Congress is getting closer to lifting a 40-year-old ban on oil exports, a move that could be a boon for U.S. oil producers hoping to expand into the global market.

President Obama and environmentalists oppose ending the ban, but Congressional leaders made it part of a $1.14 trillion spending bill, unveiled Tuesday, greatly increasing its chance of passage.

The junk bond market rebounded a bit on Tuesday, but big questions remain about what the recent rout means for the stock market and the broader economy.

One of the largest junk bond investment funds (inelegantly called the iShares iBoxx High Yield Corporate Bond exchange-traded fund) was up 1.5 percent after two consecutive days of steep losses.

Junk bonds are sold by companies with less than perfect credit. Because they're riskier, they typically pay higher returns. That makes them especially attractive to investors during periods of low interest rates, like now.

The gloom deepened in the high-yield debt market on Monday, with bonds issued by dozens of companies losing ground, and concerns mounting about how long the rout will last.

Bonds issued by lower-rated companies such as Dynegy, Charter Communications, Chesapeake Energy and Oasis Petroleum have taken a tumble, as have investment funds that trade in such debt.

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