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.

Douglas Tompkins, who made a fortune in retailing as the founder of The North Face and co-founder of Esprit and went on to become a major donor to conservation causes, has died in a kayaking accident in Chile. He was 72.

Icelanders angry about government support of religion have come up with a way of making their unhappiness heard: They've formed their own religion, based on ancient Sumerian texts, and are promising to pass on any public funds they receive to their "congregation."

The group is a means of protesting Iceland's "parish tax," which goes to support organized religions, of which the largest by far is the Evangelical Lutheran Church of Iceland.

The Federal Trade Commission has taken the first step toward blocking the proposed $6.3 billion merger of Staples and Office Depot, saying the deal would hurt competition in the market for office supplies sold to large corporations.

The commission filed an administrative complaint charging that the merger between Massachusetts-based Staples, the world's largest seller of office supplies, and Florida-based Office Depot would violate antitrust laws.

Oil prices fell to their lowest levels in seven years, after OPEC officials failed to agree Friday on how to address the global supply glut.

By midday Monday, Brent crude futures fell 5 percent to $40.68 a barrel, the lowest price since 2009. The U.S. oil benchmark West Texas Intermediate crude dropped below $38 a barrel.

The decline sent energy stocks such as ExxonMobil, Chevron and Royal Dutch Shell tumbling, and helped drag the major stock indexes down sharply.

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