Morning Edition

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STEVE INSKEEP, HOST:

NPR business news starts with a price hike for Facebook shares.

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INSKEEP: OK, they're not even on sale yet, but investor excitement over Facebook's upcoming initial public offering has prompted the company to raise the price range for its shares. Sources say the new range will be from $34 and $38 per share. That's up from a previous range of $28 to $35.

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DAVID GREENE, HOST:

And our last word in business: the passenger door is now closed. Please make sure all your electronic devices have been switched off.

If you're sick of those rules on planes, well, they may be changing a bit. Virgin Atlantic has announced passengers on their new Airbus will soon be able to chat on their mobile phones.

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California Governor Jerry Brown wants to convince voters to accept two things they don't like: higher taxes and deep spending cuts. The Democrat proposed a budget yesterday which would only be the start of the pain. The other part would come in November with a ballot measure to raise taxes and spare education. Capital Public Radio's Ben Adler reports from Sacramento.

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STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. Good morning. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene.

JP Morgan Chase has long had the reputation of being one of the better managed big banks in the country. So how did it make a $2 billion blunder and what does it tell us about banking today, nearly five years after the onset of the financial crisis? When such questions are looming, we often turn to David Wessel, economics editor of The Wall Street Journal.

And, David, welcome back to the program.

When Adam Spiegel rolls down the metal security doors at his Medford, Ore., store, a painting becomes visible. Officials told him to clean the graffiti or be fined. He tells the Mail-Tribune it's not graffiti: it's a mural. Some onlookers think the painting resembles a giant bong.

When Gac Filipaj fled war-torn Yugoslavia in 1992, he became a refugee in New York. He took a janitor's job at Columbia University because it included free tuition. But he first had to learn English. After a dozen years, he received a bachelor's degree in classics over the weekend.

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The economy of Wilmington, Ohio was devastated three years ago when the shipping company DHL left town, taking thousands of jobs with it. City leaders now want to embrace a rapidly growing industry - unmanned aerial vehicles, also known as UAVs. In popular culture, they're somewhat inaccurately called drones. The Federal Aviation Administration recently gave the Air Force permission to test UAVs at the now largely vacant Wilmington Air Park. Here's Ann Thompson of member station WVXU.

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You know, one of the benefits of starting your own company is that you can pretty much wear whatever you want - up to a point. Our last word in business today is: dress for success.

Just as Steve Jobs was known for his mock-turtleneck, Mark Zuckerberg has become known for his hoodie. Business blogs breathlessly chronicle Zuckerberg's dress decisions and note the fact that he sports the collegiate just-rolled-out-of-bed look, even at important business meetings.

The head of JPMorgan Chase says the trading strategy that cost it $2 billion in a matter of weeks won't really affect the bank's bottom line. But the trade happened during a presidential campaign where the economy and Wall Street are major themes.

Over the weekend, Syrian troops continued their brutal campaign against those who oppose the regime of President Bashar Assad. And a questionable video has been released by a group claiming responsibility for massive explosions that shook Syria's capital last week.