Business

What your next smart phone or tablet computer might look like is in the hands of a California jury. In one of the biggest patent infringement cases ever, Apple is suing Samsung — charging that in creating its products, Samsung ripped off iPhone and iPad technology. Samsung countered with its own allegations.

This case is complex, the legal issues are daunting, and the jury's decision has to be unanimous.

"What's at stake here is the future of smartphones and the tablet market," says intellectual property expert Christopher V. Carani.

On the fishing-boat piers of New England, nearly everyone knows a fisherman who was lost at sea.

Boat captain Joe Neves remembers when a crew member got knocked overboard. "We heard him screaming 'Help me!' " Neves says, grimacing. "But you know, on the water at night, your head is like a little coconut." They didn't find him.

Mike Gallagher discovered a friend who was entangled in still-running hydraulics. "I knew right away he was dead," he says.

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Apple got something of a report card today. The Fair Labor Association released its latest review of working conditions at three plants in China. The plants are owned by Foxconn, and assemble iPhones and iPads. But an earlier report had put the Chinese company and Apple on notice.

NPR's Steve Henn has this update.

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Time now for a story on the latest recall. It's not food or an appliance. It's gasoline. BP has recalled gasoline that was stored at a facility in northwest Indiana, near Chicago. But tens of thousands of gallons of that gas have already been sold and pumped into gas tanks.

As NPR's Jeff Brady reports, local mechanics are fielding lots of calls from concerned drivers.

It is a truth universally acknowledged that health insurance companies can be a pain for patients. What may be a surprise is that hospitals often complain, too. And the reasons aren't so different from those of consumers: Denied claims. Low reimbursement. Late reimbursement. Thickets of red tape.

Interest rates on mortgages are at an all-time low. But refinancing can be a daunting process. Financial guru and author Louis Barajas speaks with guest host Viviana Hurtado about the ins and outs of refinancing, and what consumers can do to make the process go more smoothly.

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NPR's business news starts with a really big apple.

It was bound to happen. Apple has surpassed Microsoft as the most valuable company ever. That happened when Apple stock hit $665 per share yesterday, boosting its market value to nearly $624 billion. Microsoft had held the record for market capitalization since 1999. Transcript provided by NPR, Copyright National Public Radio.

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The airline industry is having a better than expected summer. Airline stocks have been on the rise and customer service is improving. These days, airlines are less likely to lose your luggage. They're also seeing the highest percent of on-time arrivals since the government started keeping track in the late 1980s.

NPR's Sonari Glinton reports the industry is getting some help from an unlikely source.

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The business school at UCLA wants to go into business for itself. The Anderson School of Management is part of a public university. Of course, it's in California and the school's leaders find that being part of public education in California right now is a little maddening. Budget battles and state budget cuts have become normal.

Will Stone reports on what the school wants to do instead.

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And our last word in business today is: pumped up kicks.

The Wall Street Journal reports that Nike will soon release its priciest shoe.

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The latest Lebron James-branded basketball shoe, known as - the Lebron X Nike Plus - is expected to retail for $315. I'm hoping that's for a pair, David, and not per shoe.

Anyway, it apparently includes some motion sensing technology - motion sensing technology that can record how high players jump when wearing them.