In less than 10 minutes, we’ll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace’s David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you’ll get a global markets update from the BBC World Service in London.
How to navigate a Shark Tank pitch, according to one contestant
For entrepreneurs and aspiring CEOs, one of the ultimate tests of mettle is appearing on the hit show Shark Tank, which pits high-rolling investors against contestants looking for a deal to help take their businesses to the next level of development. We catch up with Megan Klein, founder of Little Saints, a company that has been at the forefront of the non-alcoholic cocktail industry, who recently appeared on the show and made her pitch to the sharks. And, we chat with University of Michigan Professor Erik Gordon about consumer confidence ahead of the election and which candidate voters trust more on the economy.
24-10-2024 • 8 minuten, 59 seconden
Do people trust government to deliver prosperity? Ask this year’s Nobel laureate
Americans nowadays don’t agree on much, but most have one thing in common: disappointment in their government and the direction of the country. According to University of Chicago Professor James Robinson, who jointly won the Nobel Prize in Economics this year, a lot of this discontentment can be tied back to economic inequality and a perception that economic gains of the past few decades haven’t substantially improved normal people’s lives. Plus, an update on Boeing as striking machinists reject the company’s latest offer in ongoing labor negotiations.
24-10-2024 • 9 minuten, 11 seconden
IMF warns about the impact of trade wars
From the BBC World Service: In an exclusive BBC interview, IMF Deputy Director Gita Gopinath said tit-for-tat tariffs cause global losses in growth equivalent in size to the economies of France and Germany. And, Canada is one of America’s largest trading partners, so how do its residents feel about the upcoming election?
24-10-2024 • 7 minuten, 45 seconden
The gloomy headlines for Boeing just keep coming
Today’s quarterly earnings report painted a gloomy picture for the embattled aviation giant — the company reportedly lost $6 billion in the three months ending in September. A look at what this means in the context of the numerous crises the plane-maker has been facing in recent years. Plus, what a recent outbreak of E. coli linked to McDonald’s hamburgers could mean for the fast food giant. And, how a diversity program is looking to bring country music artists belonging to traditionally underrepresented groups into the music industry.
23-10-2024 • 9 minuten
Mexico is bracing for potential trade impacts of the U.S. election
The U.S.-Mexico-Canada free trade agreement will come up for renewal in the second year of a Trump or Harris presidency, which comes at a time of tension in the U.S. trade relationship with China and Chinese businesses increasingly building facilities in Mexico. Marketplace’s David Brancaccio speaks with the Wall Street Journal’s Santiago Pere about potential disruptions in the two countries’ trade relationship. Plus, a look at the IRS’s new inflation-adjusted tax brackets for the upcoming tax year and what that means for taxpayers.
23-10-2024 • 8 minuten, 43 seconden
Modi and Xi to meet at BRICS summit
From the BBC World Service: Indian Prime Minster Modi and Chinese President Xi Jinping are set to meet on the sidelines of the BRICS summit in Russia in what President Putin is framing as a propaganda victory amid the war in Ukraine. Then, a communications satellite designed and built by the troubled aerospace giant Boeing has broken up in orbit. And, as the new NBA season gets underway, we hear about Africa’s continuing influence on the league.
23-10-2024 • 7 minuten, 27 seconden
An easier way to switch banks
The way you bank and apply for credit could fundamentally change in the next couple of years. The Consumer Financial Protection Bureau issued new rules this morning to give consumers more control over their financial data, and spur competition in financial services. Then, it appears to be a quiet period for business ahead of the election. And later, how can companies tackle worker loneliness and isolation without forced fun?
22-10-2024 • 8 minuten, 24 seconden
Consumers are falling out of love with bigger dating apps
Dating apps boomed during the pandemic, when online dating was pretty much the only way to meet romantic connections. And while the honeymoon period seems to be waning between big-name dating apps and users, smaller apps are having a moment. Today, we’ll take the pulse of the industry with Robyn Exton, CEO and founder of the sapphic dating and community app HER. Also: a potential major lithium discovery in southwestern Arkansas.
22-10-2024 • 9 minuten, 14 seconden
Hyundai lists in India
From the BBC World Service: Hyundai Motor India shares have made their trading debut after a $3.3 billion initial public offering, but the price has already slipped. We’ll discuss. Then, Russia is hosting the BRICS summit of emerging economies. Plus, Spain has seen a record number of migrant arrivals this year, raising questions over what role migrants should play in the Spanish economy.
22-10-2024 • 8 minuten, 20 seconden
The World Bank, the IMF and the U.S. election
Leaders of finance from around the world gather starting today in Washington, D.C., for the annual meetings of the International Monetary Fund and the World Bank. The meetings come at a fraught time for the global economy and with U.S. elections looming in the background. We’ll hear more, including how markets are bracing for the upcoming election. Also: the frozen potato biz and a potential end to the Boeing strike.
21-10-2024 • 8 minuten, 45 seconden
A “call to arms” of sorts for corporations
If the election is contested again in November, will corporate leaders push back? It’s a thorny but pertinent question, especially as companies have dialed back on commitments to DEI, LGBTQ+ rights and other issues in recent months. Today, we’ll explore what responsibility corporations have to American democracy. Also on this morning’s program: Campaigns spend big to court some of America’s 3 million expat voters.
21-10-2024 • 8 minuten, 48 seconden
BHP in court over Brazilian dam disaster
From the BBC World Service: A civil trial is beginning in London to determine whether the mining company was responsible for the 2015 Mariana dam collapse. Then, ByteDance has sacked an intern for “maliciously interfering” with the training of one of its artificial intelligence models. And more than 100 professional women’s soccer players have published an open letter calling on FIFA to end its sponsorship deal with state-owned Saudi Arabian oil giant Aramco.
21-10-2024 • 7 minuten, 31 seconden
The legal right to ignore your boss
After working hours, that is. The European Union is now considering rules to formalize a “right to disconnect” for employees — a legal right to ignore those pesky work-related emails, calls or messages when you’re not working. Presently, around 20 countries have such laws. We’ll learn more. Also on the program, we’ll hear about homebuilder optimism, Netflix’s slower subscriber growth and the reasons behind climbing interest rates.
18-10-2024 • 10 minuten, 16 seconden
Wanna extend your life? Save democracy? Join a club.
For this month’s Econ Extra Credit, we’re watching “Join or Die: A Film About Why You Should Join a Club.” Today, we’re joined by the films co-producers to discuss the threat loneliness poses to our individual health and the health of our community, as well as the benefits of joining a club — anything from a bowling team to a pickleball league or PTA. But first, we’ll take the pulse of China’s economy.
18-10-2024 • 9 minuten, 24 seconden
China’s economic growth slows
From the BBC World Service: China’s GDP grew in the third quarter at the slowest pace since early last year. Then, in Japan, the anime industry has hit a milestone: its value has topped $2 billion thanks to hit movies and the growth of streaming services. And the European Union is looking at “right to switch off” rules for employees, a legal right to ignore business emails and calls outside of working hours.
18-10-2024 • 8 minuten, 44 seconden
The FTC wants to make it easier to cancel subscriptions
Have you tried to cancel a subscription or membership recently and gotten the run-around? The Federal Trade Commission says it should be as easy to cancel as it is to sign up. We’ll learn about the new rule entails. Plus, incentives for German automakers to make cars stateside could be on the way. And we’ll also hear a snippet from the latest season of Marketplace’s climate solutions podcast, “How We Survive.”
17-10-2024 • 10 minuten, 16 seconden
The astronaut wears Prada
From the BBC World Service: When NASA astronauts return to the moon for the first time in more than 50 years, they will do so in style … wearing Prada. We’ll hear more. Plus, TSMC, the Taiwanese tech giant that controls more than half the world’s output of advanced chips, posted profits of $10.1 billion in the last three months. And on Friday, China will announce growth figures. What can we expect?
17-10-2024 • 7 minuten, 55 seconden
Helene highlights fragility of IV fluid supply chain
A shortage of IV fluid is forcing hospitals across the country to conserve and even postpone surgeries and procedures after an IV fluid production facility in North Carolina was hit by the devastating floods from Hurricane Helene. It’s vital for hospitals, and the shortage clues us in to some of the economics of health care. Also on the program: what challenges Ulta Beauty faces and where the money from the FDIC comes from.
17-10-2024 • 8 minuten, 59 seconden
Too many disasters, not enough disaster money
The Small Business Administration’s disaster loan program has run dry, meaning the feds can’t make new, low-interest loans to help people rebuild after Hurricanes Helene and Milton. The SBA says it won’t be able to make any new disaster loans until Congress appropriates more money, but members of Congress aren’t scheduled to be back in session until November. And later: Canada’s tourism industry recovery and California’s gasoline reserve.
16-10-2024 • 9 minuten, 31 seconden
The case for (healthy) political disagreement
As part of our ongoing Office Politics series, we’ve heard the case for no political talk at work. Today, we’re joined by Michael Reszler of the Better Arguments to learn about healthier ways to disagree and to broach political discourse — in the workplace and beyond. We’ll also get a taste of the process. But first, banks are making a lot of money on investment banking. We’ll unpack.
16-10-2024 • 9 minuten, 24 seconden
Italy pays Albania to take its migrants
From the BBC World Service: An Italian naval ship carrying migrants has reached Albania, the first relocation under a new agreement between Italian Prime Minister Giorgia Meloni and Albanian Prime Minister Edi Rama. The move faces criticism from human rights groups. We’ll hear more about the deal and its financial implications. Also on the show: a look at Hong Kong’s housing size minimum and Canada’s post-pandemic tourism recovery.
16-10-2024 • 10 minuten, 3 seconden
Could your boss kick a little something into your student loan payments?
There’s a way U.S. companies could help employees pay down student loan debt the way the boss can help you save for retirement. But will your company go for it? We’ll discuss. First, the lowest-income countries are getting poorer and more in debt, the World Bank finds. Then, we’ll hear some business advice from a 9-year-old entrepreneur, courtesy of our friends over at “Million Bazillion.”
15-10-2024 • 9 minuten, 8 seconden
Notes from a Nobel winner
On today’s program, we’re joined by Simon Johnson at MIT, who yesterday was one of several U.S. economists to win the Nobel Memorial Prize in Economic Sciences. He studied which systems and institutions contribute to prosperity and which contribute to poverty and inequality. We’ll hear Johnson’s conversation with “Marketplace Morning Report” host David Brancaccio. Also, Alphabet/Google is turning to nuclear reactors to fuel artificial intelligence systems.
15-10-2024 • 9 minuten, 6 seconden
Pakistan prepares for major international security summit
From the BBC World Service: Leaders and officials from India, Pakistan, China and other countries in the region will meet in Islamabad during the Shanghai Cooperation Organisation summit to discuss how to boost their security, cooperation and economic ties. Then, competition from China and tariffs on Chinese-made cars take centerstage at the Paris Motor Show. And as some content becomes unavailable on streaming platforms, should we just buy more physical media?
15-10-2024 • 8 minuten, 5 seconden
And the Nobel goes to …
This morning, the Nobel committee announced the winners of the economics prize: three economists focused on how social institutions affect poverty and wealth within and among countries. The winners were Daron Acemoglu and Simon Johnson of MIT and James A. Robinson at the University of Chicago. Today, we’ll discuss some of their research findings. Plus, how can cultural intelligence help companies bridge a divided workplace in the run-up to the election?
14-10-2024 • 8 minuten, 18 seconden
Getting gasoline into Florida post-Milton
More than 400,000 electricity customers are out of power across Florida this morning. After the storm, ports, transfer terminals and roads were closed, and that’s disrupted the supply of critical products, including gasoline. We’ll get into it. Then, you may be getting an inundation of fundraising texts and emails from the Trump-Vance or Harris-Walz. But do the campaigns really need your money at this point? And later, we’ll learn about hotel-to-housing conversions.
14-10-2024 • 8 minuten, 1 seconde
The Paris Motor Show kicks into gear
From the BBC World Service: All roads lead to Paris as the City of Light hosts its major motor show, with French and Chinese car manufacturers dominating the event with new reveals. Then, South America has exceeded its record for wildfires this year. The Amazon rainforest is seeing its worst fires in two decades; an area bigger than Sri Lanka has burned in the Brazilian Amazon alone.
14-10-2024 • 7 minuten, 2 seconden
Why racial disparities in stock market investments persist
Stocks are increasingly an important source of household wealth. Thanks to the booming stock market, U.S. household wealth surged to a record high last year, per Federal Reserve data. But there are continued racial differences in stock ownership, which has big implications for the racial wealth gap. We’ll learn more. Also on the show: producer prices remain tame, and business travel spending rebounds.
11-10-2024 • 7 minuten, 51 seconden
Maybe let’s just not talk about politics at work?
“We’ve just softened the boundaries a little bit and allowed politics to creep into the workplace,” says Sean Westwood, director of the Polarization Research Lab at Dartmouth. As part of our Office Politics series in the lead-up to the election, we’re focusing on how companies intensify or ease political divides. Today: the argument for just not talking about politics or other divisive matters at work. But first, Trump and Harris turn their attention to automakers.
11-10-2024 • 7 minuten, 38 seconden
China detains workers at iPhone maker
From the BBC World Service: Chinese police have detained four workers of the Taiwanese iPhone maker Foxconn in circumstances Taipei has described as “strange.” The employees were arrested in Zhengzhou on “breach of trust” charges. We’ll unpack. Then, Portugal wants to bring in a new law to give a decade of tax breaks to people up to the age of 35. And “ghost” distilleries are being resurrected as demand for rare whiskey soars,
11-10-2024 • 6 minuten, 54 seconden
There’s gold in them there central banks!
The value of gold is up 28% since the beginning of the year. And while some see the precious metal as shiny and pretty, central banks around the globe view it differently — as a safe asset during a time of geopolitical tensions. Also on the program: We’ll discuss how markets are responding to this morning’s inflation data, and we’ll hear about a lawsuit against some top universities for alleged financial aid price-fixing.
10-10-2024 • 10 minuten, 48 seconden
What shoppers really want is some disinflation
Later this morning, we’ll get the consumer price index for September. While inflation is way down from its peak in June 2022, consumers are frustrated with persistently high prices. We’ll hear more. Plus, how does a Nobel win in literature influence book sales? We’ll hear from the publishers of last year’s Nobel laureate, Norwegian playwright and author Jon Fosse, about how they dealt with a surge in demand.
10-10-2024 • 9 minuten, 6 seconden
Tributes paid to former Tata Group boss
From the BBC World Service: Ratan Tata was one of India’s most internationally recognized industrialists. The tycoon oversaw a 50-fold rise in profits in his two decades as chairman of Tata Group and acquired brands like carmaker Jaguar Land Rover. He died at age 86. Also: How is Swedish furniture giant Ikea going to hit its eco targets? Plus, the drugmaker behind Zantac agrees to a huge payout.
10-10-2024 • 8 minuten, 5 seconden
A costly lesson, often learned the hard way
Medicare does not pay for general, long-term care. Now, Kamala Harris, the Democrat’s candidate for president, wants to expand Medicare to pay for long-term care for older people in their home. That would need an amenable new Congress, but many families are presently left trying to piece together care for older relatives. Also on today’s show: potential structure changes to Google and the rising value of the U.S. dollar.
9-10-2024 • 8 minuten, 55 seconden
Let’s get apolitical
In a time of fraught political polarization, it’s hard for companies to decide whether to take political stands or remain quietly on the sidelines. Today, as a continuation of our Office Politics series, we’ll hear why some places that once mixed business and politics may be keeping a lower profile now. Then, nearly a month into a strike, negotiations between aerospace giant Boeing and its union members have broken off. We hear why.
9-10-2024 • 9 minuten, 23 seconden
It’s not me, it’s you: Google faces a break-up
From the BBC World Service: The U.S. Department of Justice is taking aim at Google, saying the tech giant might need to be broken up because it’s too dominant in the market. This comes after a major ruling in August where a judge found Google has been running an illegal monopoly when it comes to online searches. Plus, an agency enabling the international mail system celebrates its 150th birthday.
9-10-2024 • 7 minuten, 31 seconden
What happened to Activision Blizzard?
The video game industry is bigger than movies and music combined. As part of our ongoing Skin in the Game series, we’re chatting with journalist Jason Schreier about the rise and fall of Blizzard, the company behind such games as World of Warcraft. It’s a story about the push and pull between creativity and business know-how. Also on the show: Small business uncertainty reaches an all-time high.
8-10-2024 • 8 minuten, 21 seconden
Florida, flood insurance and yet another hurricane
As Hurricane Milton barrels toward the Tampa Bay region, home to some 3 million people, residents there are still recovering from Hurricane Helene. Helene caused billions of dollars in damage. Yet nearly every homeowner who may be affected lacks adequate flood insurance. Plus, our TVs may also be watching us. And we’re coming up on one year since Microsoft finalized the largest video game deal ever: $68 billion for Activision Blizzard.
8-10-2024 • 9 minuten, 32 seconden
China retaliates against EU’s electric vehicle tariffs
From the BBC World Service: Days after the European Union voted in favor of steep import taxes on electric vehicles from China, Beijing has now hit back with tariffs on brandy imports. Other EU products could also face extra charges. Then, Uber’s CEO reflects on the benefits of low-cost EVs from China. And later: A major copper mine in Panama remains closed, hampering the country’s economy.
8-10-2024 • 8 minuten, 33 seconden
Investors are recalibrating their interest rate expectations
Third quarter earnings season kicks off this week, when we’ll get a view of the economy through the lens of the companies on the front lines. We had a banner jobs report last week. Are banner earnings next? And what would all that mean for future rate cuts? Also on the show, we’ll examine why labor force participation has hovered at around 63% for a few years now.
7-10-2024 • 8 minuten, 52 seconden
Doing the numbers on campaign promises
The nonpartisan Committee for a Responsible Federal Budget released a new study this morning, looking at how the Harris and Trump campaigns’ spending plans would affect the national debt. Both estimates are pretty dire. We’ll hear the latest. Plus, the global private equity market was worth $579 billion in 2000; today, it’s worth over $8 trillion. But is there trouble ahead for private equity?
7-10-2024 • 8 minuten, 58 seconden
Oil prices rise over Middle East tensions
From the BBC World Service: The biggest rise in oil prices for nearly two years was recorded on Friday, as the world watches mounting tensions in the Middle East and how Israel will respond to attacks by Iran. Then, an aging population is straining future growth prospects for Malaysia’s economy. And a British woman who spent nearly half a century wondering why a dream job application went unanswered has finally found out why.
7-10-2024 • 6 minuten, 40 seconden
Why work as a “bee chauffeur” is big business
Several times a year, millions of honeybees are transported back and forth across the country to help pollinate the nation’s crops. Whose job is it to move them? Plus, what to make of the gangbusters September jobs report.
4-10-2024 • 10 minuten, 4 seconden
Dockworkers suspend their strike — for now
Dockworkers have suspended their strike until Jan. 15 in response to a new, higher wage offer from port operators. But what about their demands around automation? Plus, a judge blocks the Biden administration’s latest student debt relief plan, and the complicated work of tracking political donations by companies and business owners.
4-10-2024 • 9 minuten, 43 seconden
What impact will new tariffs on Chinese EVs have on the EU market?
From the BBC World Service: The European Union has given the green light to big tariffs on electric vehicles made in China, but not all member states or European car manufacturers are happy with the decision.
4-10-2024 • 7 minuten, 6 seconden
How the port strike might play out on grocery shelves
Will the ongoing port strike lead to food shortages? It depends on both businesses and shoppers. Plus, retailers bet on big consumer spending this holiday season, OpenAI’s massive new valuation, and a “temperature check” on U.S.-China economic relations.
3-10-2024 • 9 minuten, 35 seconden
West Coast ports kick into high gear
As we enter day three of port strikes along the East and Gulf Coasts, ports on the West Coast are fielding record high amounts of diverted cargo. Plus, reassessing the legality of election betting, and the knock-on effects of stricter new SNAP requirements for older adults.
3-10-2024 • 9 minuten, 14 seconden
Nikkei 225 soars on interest rate comments
From the BBC World Service: The Japanese stock market gains followed Prime Minister Shigeru Ishiba saying the time wasn’t right for further increases in borrowing costs. Elsewhere, a court in Singapore has sentenced former transport minister S. Iswaran to 12 months in prison for corruption and obstruction of justice; he’s the first former or sitting cabinet minister in the city-state to be jailed. And in order to combat droughts which disrupt the workings of the Panama Canal, the Canal Authority is planning to build a new reservoir — but opponents say it’ll displace thousands of people.
3-10-2024 • 7 minuten, 53 seconden
When companies make political contributions, it’s risky business
How businesses strategically funnel cash toward political causes, what they hope to gain, and what they might be risking. Plus, the trucking industry braces for the impact of the dockworkers strike, and an antitrust case against Amazon moves forward.
2-10-2024 • 9 minuten, 19 seconden
Dockworkers strike, day two
Dockworkers from East and Gulf Coast ports enter the second day of a strike, with tensions centered around wages and automation. Plus, crude oil prices rise slightly amid escalating violence in the Middle East, and new car sales stall in response to high prices and interest rates.
2-10-2024 • 9 minuten, 26 seconden
The battle over $18B of sunken treasure
From the BBC World Service: The San José is being hailed as the most valuable shipwreck in the world — it’s a Spanish galleon which sank in the Caribbean more than 300 years ago. Now there’s a legal battle over who has a claim to the treasure, which is valued at £18 billion. Plus, global oil prices rise amid increasing tension in the Middle East.
2-10-2024 • 7 minuten, 53 seconden
The “Megalopolis” flop and Hollywood’s reluctance to take risks
Legendary filmmaker Francis Ford Coppola’s latest work flopped at the box office over the weekend. Coppola self-funded the film, “Megalopolis,” to the tune of $120 million. Yet it made just $4 million in its opening weekend. It’s the latest original film — one that’s not a sequel or remake — to struggle to attract audiences to the theater. Then, remittances to India top $100 billion a year.
1-10-2024 • 8 minuten, 9 seconden
Dockworkers from Maine to Texas are now on strike
The strike is impacting shipments of things like fresh food, cars and machinery. Workers reportedly want a 77% raise over six years and want to keep their jobs of loading and unloading ships from being automated. We’ll discuss the major economic ripple effects the strike could have. Then, CVS is considering splitting itself up. And later: a voice from “the room where it happens” on U.S.-China trade.
1-10-2024 • 7 minuten, 41 seconden
How protests in Bangladesh could impact the fashion industry
From the BBC World Service: Police have clashed with protesting garment workers in Bangladesh, who are demanding higher wages and better working conditions. We’ll examine the impact the protests could have on global fashion supply chains. Plus, India is the only country to have received $100 billion in a single year from citizens working abroad and sending remittances back home. What does that mean for those workers and the Indian economy?
1-10-2024 • 10 minuten, 6 seconden
California governor vetoes AI safety bill
Gavin Newsom vetoed a landmark artificial intelligence safety bill yesterday, siding with skeptical tech giants who that it would stifle innovation. The bill would have established a state-wide entity to oversee AI breakthroughs. We’ll hear more. Then, economists’ biggest economic concern right now is not the upcoming presidential election but the moves of the Fed. Plus, how can humans be more human at work? AI may be able to help.
30-9-2024 • 8 minuten, 20 seconden
When companies view employees as a political base
As part of our ongoing Office Politics series, we’re taking a look at businesses what happens when businesses lean on their employees to vote for the candidates and polices that are in the company’s best interest. It’s a practice that’s legal, and companies point out labor unions do it too. Yet it’s not without risk for the companies. Also, inflation cooled in August, yet housing inflation remains sticky. Why is that?
30-9-2024 • 9 minuten, 31 seconden
Thailand hands out free money
From the BBC World Service: Thailand has launched the first phase of its flagship $14 billion stimulus handout plan, which will eventually see an estimated 45 million people receive about $300 each to encourage spending. Plus, devastating floods have hit central Europe. What are the economic impacts? We’ll also hear from the chairman of coffee chain Lavazza on global expansion and record-high coffee prices.
30-9-2024 • 8 minuten, 26 seconden
It’s election season, which means talking politics at work
In the run-up to the election, we’re looking at political polarization in America — specifically, the role companies play in intensifying or easing political divides — in our Office Politics series. This time, we’re tackling the touchy subject of talking politics at work, which has become increasingly tense in recent years. We chat with Alison Taylor, executive director of the think tank Ethical Systems, about the interaction between our work and civic lives. And, the “Low-down” on this morning’s inflation numbers with FHN Financial’s Christopher Low.
27-9-2024 • 7 minuten, 37 seconden
Why fewer funds for FEMA means slower disaster recoveries
President Biden just signed a bill to fund the government for the next three months, but extra money for the federal government’s disaster management agency, FEMA, was not in the legislation. A look at why the agency was asking for more funds and how fewer resources can impact communities recovering from disasters. The labor dispute between some of the largest U.S. ports and dockworkers escalated Friday, with employers calling for federal intervention to force a restart in negotiations. And, Southwest Airlines announced that it will scrap one of the features that set it apart in a crowded airline market: no pre-assigned seating.
27-9-2024 • 7 minuten, 34 seconden
Japan’s ruling party picks next PM
From the BBC World Service: Japan’s ruling party has elected Shigeru Ishiba as its new leader, positioning the political veteran as the next prime minister of Japan. A look at what his ascent could mean for the country’s economic policy. Ticketing websites have been overwhelmed after millions of people in India tried to book to see Coldplay’s concerts next year; as well as technical problems and long digital queues, there’s concern over alleged price gouging. And, scientists in China have discovered the world’s oldest known cheese – from 3500 years ago.
27-9-2024 • 7 minuten, 10 seconden
Are we in for another logistics nightmare?
We’re now just days from a potential strike by dockworkers that would stretch from the Gulf of Mexico on up the East Coast. Oct. 1 is the deadline for an agreement between ports and the union representing about 45,000 dockworkers. What sort of ripple effects might such a strike have? Plus, Congress has approved a temporary spending bill to keep the government open — for another few months.
26-9-2024 • 7 minuten, 7 seconden
It’s refinance time for many homeowners
Last week, refinance applications were up 20% from a week earlier. The number of people who could benefit from refinancing — especially those who took out mortgages with interest rates in the high 6% to 7% range — has been growing over the last few weeks, but not everyone is making the jump. Plus, OpenAI looks to switch from a nonprofit to for-profit entity, and buy now, pay later is expected to surge this year.
26-9-2024 • 7 minuten, 25 seconden
China has even more plans to revive its economy
From the BBC World Service: This week, Chinas has really been trying to get its economy back on track. Today, China’s leaders has rolled out additional measures to shore up its struggling economy, including reforms to banking, business and property, as well as more help for the poor. We’ll hear more. Plus, Pakistan has agreed to a $7 billion funding deal with the International Monetary Fund.
26-9-2024 • 8 minuten, 13 seconden
Attention Kmart shoppers: It’s time to say goodbye
Once upon a time, there was department store chain called Kmart. Now, the bargain retailer is closing its last full-scale store in the lower 48. Kmart has struggled for years in the shadow of its two biggest imitators: Target and Walmart. Also on the show: OpenAI is looking to expand its artificial intelligence data centers. Plus, is this especially tense presidential campaign eating away at the economy?
25-9-2024 • 8 minuten, 22 seconden
To be political or not to be political?
That is the question facing many companies, especially as we lead up to the contentious 2024 election. Today, we’ll hear how about some companies responded — from opting to ban political talk in the workplace and ones that emailed customers with telling them how to vote — as well as their thorny results. First, we’ll learn what we can glean from key economic speeches from former President Donald Trump and Vice President Kamala Harris.
25-9-2024 • 8 minuten, 42 seconden
Britain’s prisons are at a breaking point
From the BBC World Service: Prisons in Britain are grappling with overcrowding, staff shortages and funding cuts — all of which are making a bad situation worse. The government has started to release prisoners early to reduce pressure on the system. Meanwhile, talks are kicking off today between trade unions and Volkswagen on proposed cuts to its workforce in Germany. And, there are calls for more private business investment in India.
25-9-2024 • 7 minuten, 30 seconden
It’s a tough environment for home-buying, even after a rate cut
Those who have been waiting patiently for the housing market to cool down may have to wait even longer for lower prices. Data released today indicates that there’s been no reprieve for prospective homebuyers, as prices have stayed stubbornly high despite a recent rate cut by the Fed. Dr. David Kelly of JPMorgan Global Funds walks us through the report. China’s economy is looking to receive a boost after policymakers passed the largest economic stimulus package since the pandemic to buoy stagnating growth. Retailers are preparing for the holiday season by beginning to hire thousands of seasonal workers. And, why some parents are turning to a Barbie-theme “dumb” phone as a potential first device for their kids.
24-9-2024 • 10 minuten, 29 seconden
Why a downturn could be healthy for the art market
The art market is in somewhat of a funk right now. Auction houses are reporting that demand for new pieces of art has dipped recently, partly due to external conditions like higher interest rates. While the downturn upends years of strong sales, art critic Blake Gopnik argues that a correction may ultimately benefit the long-run fortunes of artists. And, a look inside the Justice Department’s reported case against Visa over monopoly claims in the debit card market.
24-9-2024 • 10 minuten, 9 seconden
Chinese fashion giant Shein accused of tax dodging
From the BBC World Service: Shein, a Chinese fashion giant, has come under fire over claims the company is dodging UK taxes. A look at why some want the government to step in. The Chinese government is stepping up efforts to revive its slowing economy. Everton Football Club, one of England’s top football teams, is set for a takeover by an American investment group. And a new – and very pink – Barbie-branded phone is hitting the U.S. market.
24-9-2024 • 7 minuten, 6 seconden
Lina Khan’s case for staying on
Kamala Harris is promising to release new details this week about economic policies she would pursue if elected president. But behind closed doors, she’s facing pressure to loosen the Biden administration’s crackdown on corporate consolidation. The foot soldier in that effort has been Federal Trade Commission Chair Lina Khan, and some big-money Democratic donors have called for her replacement. Also: CFO gloom, and housing inventory’s impact on home prices.
23-9-2024 • 8 minuten, 5 seconden
What partisan divides are doing to our workplaces
Would it surprise you to learn that a quarter of Americans say that they’ve avoided a work colleague due to differing political views? Today, as part of our Office Politics series, we’re joined by Sean Westwood, director of Dartmouth’s Polarization Research Lab, to do the numbers on polarization’s impact on the workplace. Then, Congressional negotiators reached a bipartisan deal over the weekend to avoid a government shutdown in a week.
23-9-2024 • 8 minuten, 20 seconden
Sri Lanka swears in new president
From the BBC World Service: Anura Kumara Dissanayake has been sworn into office in Sri Lanka, promising “clean” politics as the country recovers from one of its worst-ever economic crises. We hear more. Then, as cross-border clashes continue in the Hezbollah-Israel conflict, we ask how businesses in the affected regions of Lebanon are grappling. Also on the program: a Tamagotchi store in the U.K. and a WTO challenge to China’s EU dairy product investigation.
23-9-2024 • 7 minuten, 54 seconden
The history — and shaky future — of the generic drug market
This September marks 40 years since the birth of the generic drug industry in the United States. They saved Americans nearly $450 billion last year alone. But all is not well in the industry — big players are leaving, and drug shortages are common. Will we still be able to depend on affordable, high-quality generics in the future? Also: new rules on bank mergers, and a disagreement between the stock market and bond market.
20-9-2024 • 10 minuten, 10 seconden
When companies take a political stand
We’re digging into Office Politics, our series in which we talk to companies that use their brands to push policies and candidates, as well as organizations that try to dial down the political temperature. Today: When a business shows support or opposition to a particular side of a partisan issue, what does it mean for the consumers who don’t agree? But first: unpacking a credit card interest rate cap proposed by Donald Trump.
20-9-2024 • 9 minuten, 14 seconden
Killing shakes Japanese community in China
From the BBC World Service: The killing of a Japanese schoolboy in the Chinese city of Shenzhen has sparked anxiety among Japanese expats living in China, with top firms warning their workers to be vigilant. Plus, mass tourism in parts of Europe has sparked protests this summer, but one small Mediterranean country is enthusiastically embracing those on vacation. And heavy rock band Iron Maiden announce a 50th anniversary world tour.
20-9-2024 • 7 minuten, 59 seconden
Can shame deter the ultra wealthy from using offshore accounts?
Earlier this week we explored the offshore financial system, where foreign companies and wealthy individuals can stash their wealth under especially favorable financial conditions. Today, we’re hearing about ways to discourage the ultra wealthy from hiding their cash offshore. Turns out good ol’ shame may hold some answers. But first, we examine how rate cuts might affect the housing market. Plus, who’s going to foot the bill for the Francis Scott Key Bridge?
19-9-2024 • 10 minuten, 20 seconden
Rates are on their way down. What’s that mean for you?
Now that the Federal Reserve has started to cut interest rates, are we headed back to a world of cheap money? This morning, we’ll unpack what yesterday’s rate cut means for car loans, personal loans, credit cards, mortgages and more. Plus, there’s a huge difference that just half a penny can make. We’ll examine a change coming to stock trades. Also on the show: How do you define a supermarket?
19-9-2024 • 8 minuten, 47 seconden
Companies deny making devices that detonated in Lebanon
From the BBC World Service: As questions are being asked about how walkie talkies and pagers were detonated in Lebanon, an action which killed at least 30 people and injured thousands, two manufacturers — Japan’s Icom and Taiwan’s Gold Apollo — have denied any link to the deadly blasts. We’ll dig in. Also: Why has a Chinese milk tea company been forced to apologize over a social media video?
19-9-2024 • 8 minuten, 24 seconden
How online shopping is saving the economy
We learned this week that retail sales rose in August. A big part of that was thanks to online shopping, which was up almost 8% from last year. And retailers think e-commerce has even more room to grow. Plus, it’s a big day for the direction of the economy. And later, we’ll hear about corporate executives’ thoughts on the economy, artificial intelligence and the return-to-the-office push.
18-9-2024 • 9 minuten, 57 seconden
What Fed rate decisions look like during election years
Today, the Federal Reserve will announce what it will do with the interest rates that steer the economy. It’ll cut them — that’s almost certain, but the question is how aggressively. The Fed is independent. Fed Chairs generally refuse to get dragged into politics, though their decisions can be politicized. We’ll look at the politics of rate decisions. Then, we’ll examine why Patagonia encourages its employees to get political.
18-9-2024 • 9 minuten, 11 seconden
In Norway, EVs overtake gas-powered cars
From the BBC World Service: Norway’s electric vehicle policies appear to be paying off. There, nine out of 10 new cars sold is electric. The Nordic nation wants to be the first country to stop selling gas and diesel-engine vehicles. Also on the show: Sri Lankans head to the polls this weekend, two years on from the economic crisis that left the country in turmoil.
18-9-2024 • 7 minuten, 51 seconden
Bill Gates on addressing AI and global malnutrition
Every year, the Bill and Melinda Gates Foundation updates progress on the United Nations’ Sustainable Development Goals — how the world is doing on lifting people from poverty, ensuring gender equality, and improving health, sanitation and more. Today, we’re joined by Bill Gates to hear about stalling progress on public health initiatives, as well as opportunities for greater investment. Plus, what we can expect from the Federal Reserve tomorrow?
17-9-2024 • 8 minuten, 44 seconden
Retailers try to get just enough on the shelves for the holidays
Later this morning, we’ll to get an update on how much inventory businesses built up in July, courtesy of the Census Bureau. Meanwhile, the Logistics Managers’ Index found that inventory levels picked up in August after contracting throughout the summer, ahead of this year’s holiday shopping season. It appears to be a return to just-in-time inventory for companies. And later: the secretive and scandalous world of offshore finance.
17-9-2024 • 9 minuten, 12 seconden
Economists say Brexit bureaucracy is hitting UK-EU goods trade — and is getting worse
From the BBC World Service: A comprehensive study has found goods imports and exports between the United Kingdom and European Union have slumped since Brexit, with red tape continuing to tie up British businesses. The value of U.K. goods exported to the EU fell by 27%. We dig in. Also on the program: Farmers in Malawi are looking for ways to use harvests damaged by extreme weather, such as turning bananas into wine.
17-9-2024 • 8 minuten, 21 seconden
How are you doing, consumer?
Retail sales data out Tuesday morning will offer a peek into how consumers are doing right now. As we inch closer to the holiday shopping season, a new forecast from consulting firm Deloitte predicts that holiday spending is likely to grow this year — but not quite as much as in the recent past. We’ll discuss. Also: backlash to digital nomads, and interest rate decisions this week in the U.S., U.K, and Japan.
16-9-2024 • 9 minuten, 18 seconden
A new type of TikTok dance — one in court
Later today, TikTok and U.S. government lawyers will face off at the U.S. Court of Appeals in D.C. It’s a crucial hearing that will help determine the fate of the video-sharing app in the United States, which could potentially be banned over national security concerns. Then, to kick off our “Office Politics” series examining how companies are responding to polarization, we’ll hear from Sticker Mule’s CEO about endorsing Trump and denouncing political divisiveness.
16-9-2024 • 9 minuten, 48 seconden
Soccer’s “trial of the century” starts
From the BBC World Service: A hearing looking into the English club Manchester City’s alleged breaking of the Premier League’s financial rules is underway. The outcome could have enormous ramifications for the Premier League as a whole. Plus, Shanghai — China’s financial hub — has been hit by its worst typhoon in 70 years. And it’s becoming increasingly popular to travel while working remotely, but in some cities, there’s been a backlash against so-called “digital nomads.”
16-9-2024 • 10 minuten, 19 seconden
China ups its retirement age
China’s top legislature has approved a plan to raise the retirement age as the country faces an aging workforce. It’s the first adjustment in decades, one that many economists say is long overdue — but it’s not universally popular. Plus, the current economic snapshot as the Fed prepares for a crucial interest rate decision. And later, is canned spaghetti carbonara a delicious innovation from Heinz or, as some critics call it, an abomination?
13-9-2024 • 8 minuten, 21 seconden
As Hurricane Francine brings floodwaters, are homeowners in its path covered?
Some 14 million people in the South have been under flood watches from Francine, which made landfall in Louisiana as a Category 2 hurricane on Wednesday. The slow-moving storm is dumping huge amounts of rain, posing major flooding risks. Yet only 6% of homeowners nationwide have flood insurance. Plus, more than 30,000 Boeing workers have walked off the job, and roughly 43 million Americans lived in poverty last year.
13-9-2024 • 8 minuten, 4 seconden
Boeing workers vote to strike
From the BBC World Service: Boeing factory workers have voted to go on strike, a move which may threaten the delivery of some aircrafts and delay the production of some planes for the aerospace company. Then, the United Kingdom government is moving to ban junk food ads on television before 9 p.m. Also in the U.K.: Heinz launches spaghetti carbonara in a can, much to the horror of many Italians.
13-9-2024 • 8 minuten, 35 seconden
Unionized Boeing workers could strike tonight
Boeing and the union representing 33,000 of its workers reached a tentative labor deal over the weekend. Now, the rank and file appear ready to reject that deal, with a vote today. Many workers have been expressing frustration this week over the contract’s terms and could vote to go on strike at midnight. Also on the program: A look at women’s long-fought battle to carve out a seat for themselves on Wall Street.
12-9-2024 • 9 minuten, 37 seconden
Land seizures and land sales
According to settlement tracking group Peace Now, the Israeli government has seized more Palestinian land for settlements in the West Bank this year than at any time in the last three decades. Now, some synagogues in the U.S. and Canada are being criticized — and picketed — for hosting real-estate fairs that pitch property for sale in Israel and the Occupied Territories to North American Jews. We’ll learn more. But first, we’ll look at why the gender pay gap is widening.
12-9-2024 • 9 minuten, 28 seconden
Do video games mislead players when it comes to in-game spending?
From the BBC World Service: A European consumer rights group has lodged a formal complaint accusing game developers behind popular titles like Fortnite and Minecraft of tricking players into spending more cash than they might realize. Then, we travel to Italy, where the shipyards of Monfalcone have attracted workers from Bangladesh. But there are tensions with locals. Earlier this year, the town’s mayor even banned cricket, an extremely popular sport popular in Bangladesh.
12-9-2024 • 9 minuten, 27 seconden
How are markets responding to last night’s debate?
The first — and potentially only — presidential debate between Vice President Kamala Harris and former President Donald Trump is officially in the books. Economic issues took up plenty of air time. We’ll unpack how markets appear to be digesting both candidates’ performances and policies. Plus, fresh Labor Department data shows that annual inflation cooled in August to 2.5% — the lowest rate since February 2021. How might Fed officials respond?
11-9-2024 • 8 minuten, 49 seconden
Affordable Care Act enrollment hits all-time high at 21 million people
Over the last decade, nearly 50 million have been on an ACA plan at some point — that’s one in seven Americans. Plus, New York Fashion Week comes to a close today. It featured a pop-up shop from none other than Walmart and is part of the superstore’s attempt to lean into fashion. But first, the economy played a starring role in last night’s presidential debate. We’ll discuss.
11-9-2024 • 8 minuten, 3 seconden
Taxing times for China’s electric vehicle makers
From the BBC World Service: Like the U.S., the European Union recently slapped import duties on Chinese electric vehicles. It says it’s protecting European automakers from unfair competition, but not everyone — such as Spain’s prime minister and Belgian firm Umicore — agrees. Then, Kenya’s main airport is facing major disruption after workers staged a go-slow protest over a proposed 30-year lease deal with the Indian conglomerate, the Adani Group.
11-9-2024 • 9 minuten, 24 seconden
The economic mood is cooling
Yesterday, we talked about surveys of farmers, which showed a growing economic pessimism in that sector. Today, survey data from the National Federation of Independent Business show a decline in optimism among small businesses generally in August. So what exactly is behind the souring mood among investors, consumers and others? We’ll discuss. Also this morning’s program: a closer look at the business of manifesting.
10-9-2024 • 8 minuten, 40 seconden
How inflation has transformed our dining and tipping habits
The restaurant industry has been through a lot in recent years — hemorrhaging workers during the pandemic and struggling to bring them back; grappling with inflation that’s up and foot traffic that’s down. Then, there’s the transformation of tipping. We’ll check in on some of the latest trends impacting restaurants. Then, U.S. tech giants owe billions in taxes and fines to Europe, and we’ll examine misinformation about illegal voting by non-citizens.
10-9-2024 • 8 minuten, 18 seconden
A bad day for tech giants in Europe
From the BBC World Service: Two long-running legal cases concluded in Europe today — a $14 billion tax dispute for Apple and a $2.6 billion antitrust fine for Google. Both companies lost out. We’ll hear about the latest developments Plus, do you believe you can get what you want through positive thinking? If so, you may be part of the increasingly valuable manifesting movement.
10-9-2024 • 10 minuten, 19 seconden
Why farmers are feeling so down
Purdue’s Farmer Sentiment Index hit an 8-year low in August, and half of agricultural economists surveyed by the University of Missouri last month say the farm economy is in a recession. Input and borrowing costs are still high, while prices for commodities have been trending down. We’ll unpack, but first will mull how likely a government shutdown is before the election. And, will it be another rough week for markets?
9-9-2024 • 8 minuten, 46 seconden
Boeing reaches a deal
After a rough year, Boeing was facing a possible strike to add to its list of problems. But no longer. The aerospace company has reached a tentative deal with its largest labor union, with the hopes of averting a strike. We’ll hear more. Plus, Vice President Kamala Harris and former President Donald Trump are set to square off in their first debate tomorrow evening. We’ll do some math on their fiscal proposals.
9-9-2024 • 8 minuten, 20 seconden
Afghan children are paying the price of an economic crisis
From the BBC World Service: Afghanistan is facing a food crisis. Some 3.2 million children under the age of 5 are malnourished, and health services do not have the resources to cope. Plus, South Korea is removing pictures of soldiers from the armed forces communications network amid concerns over sexually explicit deepfake manipulation. Then, some runners are willing to pay others to notch up an impressive time on the fitness app, Strava.
9-9-2024 • 8 minuten, 32 seconden
Trump, Musk and a proposed government efficiency commission
Former President Donald Trump says he’ll establish a government efficiency commission if re-elected in November, and it would be headed by Elon Musk. Musk’s various ventures are regulated by federal agencies, which are currently investigating several of his companies. We’ll hear more. Plus, the NFL goes global, and traders lean toward a half-point rate cut this month.
6-9-2024 • 8 minuten, 39 seconden
When a president swayed the decisions of the Federal Reserve
Federal Reserve independence has come into the spotlight recently, with former President Donald Trump indicating he thinks the president should have some influence in the Fed’s actions. Today, we wind the clock back to when exactly that happened: In 1971, President Richard Nixon devised a scheme to sway then-Federal Reserve Chair Arthur Burns — and the direction of the U.S. economy — in the run-up to reelection. But first: Hiring was weaker than expected in August.
6-9-2024 • 9 minuten, 2 seconden
7-Eleven owner rejects Canadian takeover
From the BBC World Service: It’s the world’s largest convenience chain, with 85,000 stores — and Seven & i Holdings said the $40 billion takeover bid for 7-Eleven from rival Alimentation Couche-Tard “grossly undervalues” the business. We’ll hear the latest on why the deal seems to be falling apart. Also on this morning’s show: How do you put a value on Banksy’s street art to local neighborhoods?
6-9-2024 • 8 minuten, 42 seconden
The ice is thinning, economically speaking
Private payroll company ADP reports that 99,000 jobs were added to the economy in August, less than in July. This continual cooling in demand for workers can be considered a good thing — as long as we don’t go through the ice. But first, Nordstrom’s department stores could go private. Plus: what we know about how former President Donald Trump and Vice President Kamala Harris want to change our tax bills.
5-9-2024 • 8 minuten, 31 seconden
In politics, a shared emphasis on the care economy
As divisive as politics can be, especially this election season, you can actually find some small areas of common ground. That currently includes some limited bipartisan focus on policies that aim to support families raising children. Today, we’ll look at some of the latest research regarding support for care proposals. Also on the show: the economy as an Impressionist painting and trends in the subscription economy.
5-9-2024 • 8 minuten, 28 seconden
China expands its Africa investment
From the BBC World Service: China’s President Xi Jinping has announced almost $51 billion in new funding for the continent — in projects including infrastructure and clean energy, with a promise to create a million jobs. But there are warnings about the debt burden facing some countries. Also: An inquiry into an apartment block fire in the United Kingdom is heavily critical of cladding manufacturers, successive governments and regulators.
5-9-2024 • 9 minuten, 31 seconden
A frank conversation about the subminimum wage
A new Washington Post investigation examines a program in which workers with disabilities are employed for much less than minimum wage — sometimes less than a dollar an hour. It’s legally sanctioned and aimed at training people with disabilities to work and eventually go on to higher-paying jobs. But it doesn’t always work out that way. Plus, entrepreneurs are getting their turn in the political spotlight, and markets respond to a weak manufacturing report.
4-9-2024 • 8 minuten, 31 seconden
The bigger they are, the harder they fall
AI chipmaking company Nvidia lost $279 billion in market value yesterday, and its shares kept falling in after-hours trading overnight. Despite reports of an escalating Department of Justice antitrust probe, the stock’s decline centers more on questions around the future of artificial intelligence. We hear more. We also explore the shifting geography of U.S. oil production and learn how gaps in USDA food programs are being filled by tribal governments.
4-9-2024 • 8 minuten, 25 seconden
Global markets take a tumble
From the BBC World Service: Financial markets in Asia and the U.S. have tumbled with investor concerns that the U.S. economy could be headed toward recession. Then, in Mexico, Congress is expected to pass judicial reforms that have prompted judges and court staff protests. And in an attempt to address a falling birth rate, the government in South Korea plans to bring in domestic workers from the Philippines to support families.
4-9-2024 • 7 minuten, 42 seconden
Fortune tellers have crystal balls. Economists have the shipping industry.
There are fundamental challenges facing global supply chains today: the rise of protectionism, competition with China and more. Like a crystal ball, we can look to the shipping industry to understand how these are unfolding. Germany-based DHL Group is one of the world’s largest logistics and shipping businesses, and the company’s CEO recently spoke in an exclusive interview to our Marketplace colleague, the BBC’s Leanna Byrne. Also: a lookahead at this week’s economic data.
3-9-2024 • 8 minuten, 44 seconden
Even as rent growth cools, sticker shock lingers
Lots of folks had Labor Day barbecues this past weekend, but plenty spent it moving too. It was a big move-in weekend for renters. And while rent prices have been moderating, they’re still way higher than they were a few years ago. We’ll hear more. But first: why so many hotel workers are going on strike and how the FAA is looking to curb a shortage of air traffic controllers.
3-9-2024 • 8 minuten, 55 seconden
Former VW boss faces “dieselgate” trial
From the BBC World Service: The trial of the former chief executive of Volkswagen, Martin Winterkorn, is getting under way in Germany over his role in a major diesel emissions scandal. We’ll rehash the controversy and hear the latest. And in an exclusive interview, the chief executive of logistics group DHL warns about the challenges facing global trade and the German economy, which is the largest in Europe.
3-9-2024 • 8 minuten, 34 seconden
Israel faces labor strike over Gaza hostages
From the BBC World Service: Activists are blocking roads across Israel during a general strike called to demand the government agree to a ceasefire deal in Gaza to secure the release of the remaining hostages. Plus, a look at a global scam tricking foreign students in Britain into paying tens of thousands of dollars for worthless work visa documents. And, there is a new way of making the world’s favorite indulgence — chocolate.
2-9-2024 • 7 minuten, 19 seconden
Once again, Labor Day travel is expected to break records
Labor Day weekend is usually a hectic travel weekend, but this year is set to break records as people travel across the country to celebrate the holiday. We look at the economic drivers of what’s projected to be a very busy few days at airports, highways, and train stations nationwide. Plus, a look at a new chocolate production technique promising to boost the fortunes of producers and consumers of the much-loved treat.
2-9-2024 • 9 minuten, 16 seconden
Organized labor’s time-tested glue: work songs
Since the beginning of labor unions and collective action in the workplace, songs have served as a way to build camaraderie and communicate complaints between workers. As part of our “Econ Extra Credit” series, we delve into the storied history of the humble work hymn and how songs continue to shape organized labor efforts today. Plus, a look at how monetary policymakers at the Fed might analyze upcoming jobs numbers as they consider a potential rate cut.
2-9-2024 • 9 minuten, 22 seconden
As a rate cut looms, can the Fed stick the landing?
Interest rates in America are guided by a key inflation reading released today, and it came in line with expectations, showing year-over-year inflation was pretty tame. We chat with FHN Financial Chief Economist Christopher Low about how to unpack recent inflation data and what it says about a potential Fed rate cut. Also on the show: the potential economic boon provided by a reunion of the British band Oasis.
30-8-2024 • 7 minuten, 1 seconde
Investment in the Paralympic Games is growing
The Paralympic Games are now underway in Paris, and a record number of broadcasters around the world will be covering this year’s events, including para swimming, wheelchair rugby and tennis. NBC — the games’ U.S. broadcast partner — reported that Paralympic ad sales are up 60% over the Tokyo games in 2021. Also on the show: the presidential candidates on economic policy and a big moving day in Boston.
30-8-2024 • 8 minuten, 37 seconden
Social media platform X could be blocked in Brazil
From the BBC World Service: A dispute over local laws in Brazil could mean that the X platform is blocked in the country. And with the announcement that the British band Oasis is reforming, we look at the figures behind the hype.
30-8-2024 • 8 minuten, 19 seconden
Snags in the food supply chain are becoming a “dire situation”
Members of Congress are calling on the Agriculture Department to fix supply chain problems. Several groups of lawmakers are saying some tribes and food banks that rely on supplies from USDA distribution programs are reporting empty shelves because promised food deliveries never came. Also, a growing minority of Americans worry curbing climate change will hurt the economy, and Singapore’s government is pushing older workers to keep working.
29-8-2024 • 8 minuten, 10 seconden
Latina women are helping drive the economy
Latinas’ contribution to the U.S. economy grew more than 50% between 2010 and 2021. In 2021, it totaled $1.3 trillion, new data shows. But despite their economic rise, Latina workers are still overrepresented in certain low-wage jobs. We’ll hear more. But first, Nvidia reported superb results, but that still disappointed some on Wall Street. And we’ll learn the latest developments in the arrest of Telegram’s Pavel Durov.
29-8-2024 • 8 minuten, 20 seconden
Argentine retirees protest over pensions
From the BBC World Service: In Argentina, police have clashed with demonstrating senior citizens in the capital, Buenos Aires. The protesters are angry that President Javier Milei is to veto a pension increase as part of his austerity drive. Plus, the founder and boss of Telegram has been banned from leaving France . And in Singapore, we look at how an aging population is affecting the workforce.
29-8-2024 • 7 minuten, 43 seconden
The parents are not alright, surgeon general says
This morning, the U.S. surgeon general issued a public health advisory regarding the mental health of parents. Vivek Murthy says parents are dealing with significant stresses that prior generations didn’t have to deal with, and they need more support from the government and their employers. Plus, dude, we’re getting the band back together! A look at at the economics behind why Oasis is going on a reunion tour.
28-8-2024 • 8 minuten, 20 seconden
Will it be “chip, chip, hooray” later today?
The stock for semiconductor chipmaker Nvidia has skyrocketed with the growth of generative artificial intelligence like ChatGPT. But investors have noticed that the actual profits from AI have tended to lag the hype. Today, Nvidia will release its profits and we’ll learn how much of this underlying hardware AI companies are still buying. And later: how Aug. 28 keeps showing up at turning points in the Civil Rights Movement.
28-8-2024 • 8 minuten, 36 seconden
U.K.’s prime minister makes landmark post-Brexit visit to Berlin
From the BBC World Service: Sir Keir Starmer is meeting with German Chancellor Olaf Scholz. It’s the start of a landmark post-Brexit visit to Berlin, where the aim is to reset the United Kingdom’s relationship with Germany and the broader European Union. Also on the show: halted Toyota production in Japan, an oil leak in the Red Sea and a U.K.-based company that sees value in bringing onboard older workers.
28-8-2024 • 7 minuten, 56 seconden
The Albertsons-Kroger deal has its day in court
A federal judge in Oregon will continue hearing arguments about whether to pause efforts to merge the grocery chains Albertsons and Kroger in a nearly $25 billion deal. The Federal Trade Commission believes prices would go up and consumers would lose. We’ll hear more. Plus, Canada announces sweeping tariffs on Chinese EVs, San Fransisco Fed President Mary Daly chats about rate cuts, and businesses cater to India’s growing elderly population.
27-8-2024 • 9 minuten, 18 seconden
It’s back-to-school season … and near triple-digit temps in some places
You may have heard the phrase “be cool, stay in school” before. That’s a bit hard when it’s this hot out though. More than 10,000 schools nationwide lack air conditioning, according to the Center for Climate Integrity. Installing ACs is costly — but so is heat’s impact on student learning. Also on the program: We’ll look at the growing push to erase medical debt, a burden impacting millions of Americans.
27-8-2024 • 9 minuten, 36 seconden
Canada to impose 100% tariffs on Chinese EVs
From the BBC World Service: Following the lead of the U.S. and the European Union, Canada says it will impose a 100% tariff on imports of Chinese electric vehicles and a 25% tariff on imported steel and aluminum from China. Plus, it’s estimated that there will be 350 million adults over 60 in India by 2050; so it’s no surprise that companies are increasingly looking to cash in on the silver economy’s substantial spending power.
27-8-2024 • 7 minuten, 42 seconden
Telegram, free speech and illegal activities
Over the weekend, French authorities arrested the 39-year-old founder of the messaging app Telegram. This reportedly has to do with a wide-ranging investigation into illegal activity on the app. But some are decrying the arrest as a free speech violation – saying it threatens the very essence of what makes Telegram useful. We dig in. Plus, an eco-friendly concert and a look at how bond markets are responding to signals of interest rate cuts.
26-8-2024 • 7 minuten, 34 seconden
More jobseekers are being haunted by “ghost jobs”
Last week’s jobless numbers revealed that more than 1.8 million people were drawing unemployment. Among the irks for would-be workers? A frustrating uptick in the number of “ghost jobs,” or postings that stay up on jobs sites for months on end without a hire. Also on the show: a moment of clarity on the future of interest rates and the sunsetting of a free COVID-19 vaccine program for uninsured adults.
26-8-2024 • 7 minuten, 52 seconden
Telegram founder arrested in Paris
From the BBC World Service: Pavel Durov, the founder and CEO of messaging platform Telegram, was arrested in France for allowing a wide range of crimes to take place on the platform due to insufficient moderation. Then, a “right to disconnect” law comes into force in Australia. We’ll hear how employees are feeling about the change. Plus, English band Massive Attack performed in Bristol — without the use of diesel generators.
26-8-2024 • 7 minuten, 18 seconden
Crypto firms get spendy and political
Cryptocurrency companies have been pumping lots of money into 2024 federal elections — more than $119 million so far, or almost half of corporate money given during elections this year, according to consumer advocacy group Public Citizen. Also on the show: The Democratic National Convention wraps up with an emphasis on the middle class, and Copenhagen’s underground tunnel network aims to help the city deal with the worst of the climate crisis.
23-8-2024 • 7 minuten, 38 seconden
Kamala Harris outlines her economic agenda
Vice President Kamala Harris closed the Democratic National Convention last night with an acceptance speech that broadly laid out her priorities. On the dollars and cents side of things, she highlighted protecting Social Security and Medicare, addressing the housing shortage in this country and a tax cut for middle-income households. Plus, arbitration agreements have become increasingly more common buried in the terms and conditions for various apps and services.
23-8-2024 • 7 minuten, 32 seconden
India’s prime minister visits Ukraine
From the BBC World Service: The visit comes not long after Prime Minister Narendra Modi met the Russian President Vladimir Putin in Moscow, which didn’t go over well with some European leaders. Then, Canada’s government has ordered employers and rail unions involved in a huge dispute to take part in arbitration. And the Danish capital Copenhagen is trying to prepare the city for the future dangers of extreme weather.
23-8-2024 • 9 minuten, 41 seconden
Inflation and the presidential race
The economy and the higher cost of living due to inflation are important factors shaping this election. Tonight, when Vice President Kamala Harris delivers her primetime acceptance speech at the Democratic National Convention, many viewers will be listening for what she plans to do to lessen the strain on their pocketbooks. We’ll hear more. Then, we’ll talk with a content creator attending the DNC and hear some positive news on productivity.
22-8-2024 • 7 minuten, 25 seconden
The Fed’s steering the economy. When will it change course?
The U.S. economy added 800,000 fewer jobs than originally thought between the first quarter of last year and this year, according to updated data from the Labor Department. It’s no crisis, but it does mean the labor market has been cooling faster than expected. It’s yet another reason people will be dissecting every signal they can from the Federal Reserve on when it might cut interest rates. Also, startups are increasingly a target for spies.
22-8-2024 • 7 minuten, 56 seconden
One of the U.K.’s most high-profile tech entrepreneurs confirmed dead
From the BBC World Service: British tech entrepreneur Mike Lynch’s body has been recovered after a luxury yacht sank off the coast of Sicily on Monday morning. Then, Canada’s rail freight transport network is coming to a halt over a job contracts. And Australia is in the grip of a housing crisis due to soaring rents and property prices. It’s estimated that more than 120,000 people are now homeless.
22-8-2024 • 8 minuten, 1 seconde
A big convention should bring big business … right?
A lot of Chicagoland restaurants were hoping for a shot in the arm courtesy of the Democratic National Convention this week. But so far, that hasn’t seemed to be the case for some businesses. We hear more. Then: a look at why Fed Chair Jerome Powell’s word choice in Jackson Hole will be so closely scrutinized. And later, older workers with disabilities have made gains thanks to remote work.
21-8-2024 • 7 minuten, 17 seconden
The legal fight over noncompete agreements
Noncompete agreements, where your employer has you sign a contract promising you won’t work for a competitor in the future, were originally used to protect intellectual property but now are so widespread that they can apply to fast food workers. The Federal Trade Commission wanted to ban noncompetes but a federal judge in Texas has blocked the ban. Also: Chicago’s economic landscape during the DNC and greater access to work permits for undocumented immigrants.
21-8-2024 • 6 minuten, 43 seconden
It’s Shein versus Temu in court
From the BBC World Service: First on the program, Shein is suing Temu for copyright infringement. The court case comes as Shein itself fends off similar allegations from a host of brands and independent artists. Then, Australia has just approved plans for the world’s largest solar plant. And later, the search for six people missing after a luxury yacht sank off the coast of Sicily is now in its third day.
21-8-2024 • 7 minuten, 6 seconden
Dueling economics on the campaign trail
Former President Barack Obama is set to speak tonight at the Democratic National Convention in Chicago. The theme today: “A Bold Vision for America’s Future.” Part of that vision? The U.S. economy. President Joe Biden spoke at the convention last night, highlighting his administration’s economic policies. Former President Donald Trump was also talking about the economy on the campaign trail. We’ll discuss. Then, the Department of Transportation wants the nation’s infrastructure to get a tech upgrade.
20-8-2024 • 7 minuten, 3 seconden
The economic issues bubbling up on the floor of the DNC
President Joe Biden’s victory lap at the Democratic National Convention last night included a lot of mentions of how far the economy has come from the depths of pandemic lockdowns. While there’s a lot to celebrate, the nation’s mayors have a message for convention-goers: Do more to address housing affordability. Plus, consumers are waiting for a rate cut to make big financial decisions, and AI is changing how we predict the weather.
20-8-2024 • 7 minuten, 7 seconden
U.K. tech tycoon and Morgan Stanley boss among those missing in yacht disaster
From the BBC World Service: Morgan Stanley International bank chairman Jonathan Bloomer and British tech entrepreneur Mike Lynch are among the six still missing after a yacht sunk in bad weather in Sicily on Monday. One body has been recovered. We’re hear the latest on the incident and learn more about those missing. And later, a Scottish horror film has finally been released — 17 years after filming first got under way.
20-8-2024 • 6 minuten, 52 seconden
The hottest invite in American economics
Picture this: Lush greenery, the picturesque Tetons and Federal Reserve Chairman Jerome Powell in a cowboy hat. (Maybe.) This week, roughly 120 academics, Fed policy makers and journalists are descending on Wyoming for the annual Jackson Hole Symposium. We’ll hear more about the event combining mountain hikes and monetary policy. But first, inflation remains a raw nerve as Vice President Kamala Harris begins to outline her economic policy goals.
19-8-2024 • 7 minuten, 16 seconden
Kamala Harris to make her economic case at the DNC
The Democratic National Convention kicks off in Chicago today. While Democrats will be touting the Biden administration’s accomplishments, Kamala Harris has to articulate a clear and distinguishable economic message to help sway voters — one that says the next four years will be better for their pocketbooks than the last. Plus, California Gov. Gavin Newsom is cracking down on homeless encampments. Where are all those people going to go?
19-8-2024 • 7 minuten, 29 seconden
7-Eleven gets takeover offer
From the BBC World Service: The owner of convenience store giant 7-Eleven has received a takeover offer from Canadian rival Alimentation Couche-Tard, which runs the Circle K chain. Then, long COVID has cost Australia’s economy over an estimated $6 billion, with 100 million working hours lost in 2022 alone. Then, Indonesia has inaugurated its new — and partially built — capital city of Nusantara, as part of an ambitious $30 billion plan.
19-8-2024 • 6 minuten, 55 seconden
The embroiled battle over nursing home staffing minimums
A landmark federal staffing mandate has prompted fierce disagreement between resident advocates and the nursing home industry. Nursing home owners describe the minimums as extreme, warning they could force some facilities out of business. Though advocates welcomed the new mandate, they say it’s more lenient than ideal. We hear about this fierce — and personal — debate. Plus: a major Social Security number data breach and parsing more retail sales data.
16-8-2024 • 8 minuten, 41 seconden
Starting tomorrow, a very different way of buying or selling homes
Some big changes to the real estate market are on the way this weekend. Under a settlement reached earlier this year, the National Association of Realtors is changing rules that determine how real estate agents make their money. Buyers and sellers, this matters to you. Then, a new McKinsey Global Institute report finds it’ll take sweeping transformation to reach net-zero greenhouse gas emissions by 2050.
16-8-2024 • 7 minuten, 24 seconden
Vaccine-maker asks EU to extend mpox shot license to adolescents
From the BBC World Service: Bavarian Nordic — the manufacturer of the only mpox vaccine — wants to extend the shot’s license in Europe to include those ages 12 to 17, as a more deadly version of the virus spreads largely through young children in Africa. Also on the program: Protests in response to the violent rape and murder of a female doctor in Kolkata has reignited talks of women’s workplace safety.
16-8-2024 • 8 minuten, 8 seconden
A “discerning but not defeated” consumer
Shoppers were shopping more energetically than expected in July, with retail sales up 1%. This is boosting stocks but making players in the bond market fret that they might not get as many interest rate cuts this year with the U.S. economy still showing such strength. We’ll discuss at the top of show. Also on the program: a look at banned fake reviews and what happens when a Chinese EV-maker comes to Turkey.
15-8-2024 • 7 minuten, 58 seconden
What might a Justice Department break-up of Google look like?
This week, the Justice Department is reportedly considering asking for a break up of Google after the company was deemed an illegal monopoly. We’ll describe how that may pan out and how it could potentially help smaller search engines. But first, the Biden administration is expected to unveil the results of Medicare’s first price negotiations with drug companies today. And later: What do vet clinics and Skittles have in common?
15-8-2024 • 7 minuten, 13 seconden
The Chinese carmaker taking on European rivals in their own backyard
From the BBC World Service: China’s biggest electric carmaker, BYD, is planning a $1 billion factory in Turkey, which will allow it to avoid new tariffs imposed by Europe on Chinese exporters. We hear from the where the factory will be built. Then, Germany issues an arrest warrant linked to explosions that hit the subsea pipeline carrying Russian gas to Europe. Plus, North Korea is partially reopening to foreign tourists.
15-8-2024 • 8 minuten, 11 seconden
Starbucks bets on a darling of the fast food world
Starbucks has hired Brian Niccol to become its new CEO following a slump in the company’s sales in Q3. Niccol took over Chipotle in 2018, and Chipotle’s stock price has shot up 700% under his tenure. Before that, Niccol led a brand revamp at Taco Bell. We’ll hear more. Then, consumer inflation is easing toward the Federal Reserve’s target, and Montreal makes a bet on nightlife by permitting all-night drinking.
14-8-2024 • 7 minuten, 19 seconden
When AI becomes an ever-growing part of the hiring process
Employers, recruiters and job candidates are increasingly turning to generative AI to help with the often tedious hiring process. This has led to an influx of applications for many job postings. It’s a trend that’s added efficiency — and another layer of complexity — to the jobs marketplace. Also: a look at sales of PCs with integrated AI. And the Consumer Financial Protection Bureau is cracking down on contract for deed home sales.
14-8-2024 • 7 minuten, 15 seconden
The race for the fastest-charging EV batteries
From the BBC World Service: Chinese electric vehicle maker Zeekr says it’s come up with the world’s fastest-charging battery, which can be replenished in 10 minutes. Plus, there’s further backlash against over-tourism in Spain, where one city is planning to cut water supplies to illegal short term rentals. And is Montreal about to join the ranks of cities that never sleep? It’s planning special 24-hour zones to help boost its economy.
14-8-2024 • 7 minuten, 23 seconden
On that two-hour convo between Trump and Musk
Elon Musk made news yesterday during his conversation with former President Donald Trump, which live-streamed on X. In it, Musk advocated for reducing federal government spending and reducing deficits as a way of fighting inflation, and he angled for a role in the administration if Trump wins. Plus, what would it take to see an emergency interest rate cut? Then, A generally strong job market has led to economic improvements for people without higher levels of education.
13-8-2024 • 8 minuten, 45 seconden
“Left behind” Rust Belt workers have seen gains in recent years
An analysis from The Economist looks at people who feel “left behind” in America — those who got the short end of globalization and deindustrialization, people who took the biggest hits in recent decades from not having advanced education — and shows that that group has been seeing economic improvement under the Trump and Biden administrations. Plus, Harris and Trump look to nix federal taxes on tips, and consumers expect inflation to become less of a problem.
13-8-2024 • 7 minuten, 10 seconden
Wildfires spread on the outskirts of Greece’s capital
From the BBC World Service: One person has died and thousands of homes and businesses have been evacuated due to the fires close to Athens, all during the country’s peak tourist season. The fire started some 20 miles away from the capital. We’ll hear about the latest developments.. Also, Western airlines are dropping routes to China. Why?
13-8-2024 • 9 minuten, 9 seconden
Who would you trust to run the country … and this economy?
A recent survey shows a slightly larger percentage of Americans trust Vice President Kamala Harris to handle the economy over former President Donald Trump. It’s the first time the poll has found the Democratic nominee leading Trump on economic issues this year. We’ll dig in. Then, what are forecasters expecting from this week’s inflation readings? And we’ll also hear about temp gigs and the youth unemployment rate.
12-8-2024 • 8 minuten, 10 seconden
The costs of a brand new capital
This week, Nusantara is set to become Indonesia’s new planned capital, with a price tag of $33 billion. Egypt is also relocating its capital, with an estimated cost of $59 billion. While other governments have moved their seats of government, is all the expense worth it? Also: a preview of where consumers think inflation is headed and a look at how the presidential campaigns are diverging on Federal Reserve independence.
12-8-2024 • 7 minuten, 19 seconden
Hong Kong: Jimmy Lai loses appeal over pro-democracy protest conviction
From the BBC World Service: Billionaire media tycoon Jimmy Lai has lost his bid at Hong Kong’s highest court to overturn his conviction on charges relating to unauthorized pro-democracy protests in 2019. We’ll discuss the fallout of his rejected appeal. Plus, global youth unemployment is at a low, though some regions are still feeling the impact of COVID-19. And how did South Africa turn around its electricity grid to stop rolling blackouts?
12-8-2024 • 8 minuten, 8 seconden
Running a business during a time of division and polarization
Marketplace’s Nancy Marshall-Genzer has been gathering perspectives on the economy from Kent County, Michigan — a swing county in a swing state. More than that, the county is divided. And how people vote is playing an increasingly large role in how well they view the economy. Also: how consumers in China are feeling the pinch of rising prices, and what a rate cut by the Federal Reserve would mean for consumer debt and savings.
9-8-2024 • 7 minuten, 47 seconden
How much sway should the president have over interest rates?
As president, Donald Trump was highly critical of the Federal Reserve and Chairman Jerome Powell. Now, Trump is signaling that he would want to have more say on interest rate decisions should he win the election in November — even though the Fed’s relative independence is seen as a key pillar of U.S. economic strength. Also on the program: how a summer camp is marrying mariachi music with exposure to careers in STEM.
9-8-2024 • 7 minuten, 13 seconden
A good performance on social media can secure Olympic riches
From the BBC World Service: There’s been a lot of talk about the Olympics’ boost to Paris’ economy, but what about the athletes themselves? The all-encompassing influence of social media looks set to create some surprising winners. And breaking — better known as breakdancing — makes its Olympics debut, yet it’s not in the line-up for the LA games in 2028. Now could be the chance to grab the spotlight and secure some funding.
9-8-2024 • 8 minuten, 31 seconden
Getting rewarded for not being a terrible tourist
Scoop litter from canals. Volunteer on an urban farm. Use a bike to get around. As a perk for climate-friendly actions, visitors to Copenhagen are being offered rewards like free ice cream, a glass of wine and museum discounts. Could programs like this make tourism more sustainable? Also, we’ll hear more about the mixed signals the economy is giving and Delta passengers’ class-action lawsuit over compensation for last month’s CrowdStrike travel fiasco.
8-8-2024 • 7 minuten, 7 seconden
The biggest loans of our lives are getting a bit cheaper
The average 30-year fixed rate mortgage peaked at just under 8% in October 2023. Rates have hovered around 7% for a good part of this year but have dipped further thanks to the prospect of a rate cut by the Federal Reserve come September. We’ll also travel once again to Kent County, Michigan — a swing county in a swing state — to hear how the economy is influencing voters there. Plus: quarterly results from two big media companies.
8-8-2024 • 6 minuten, 46 seconden
Bangladesh is restarting its economy
From the BBC World Service: Following weeks of protests in Bangladesh, a new interim prime minister is being sworn in and the economy is reopening, including the crucial garments industry. Then, three Taylor Swift concerts have been canceled in Vienna, because of security concerns. It’s a big disappointment for local businesses expecting to benefit from Swiftanomics. And would you volunteer to pick up trash while on vacation? Copenhagen is incentivizing visitors to do so.
8-8-2024 • 7 minuten, 10 seconden
The economics of a Harris-Walz ticket
We now know who the Veep wants as Veep: Vice President Kamala Harris announced on Tuesday that Minnesota Gov. Tim Walz will be her running mate in this year’s presidential election. But what does he bring to the table economically? We’ll dig in. Plus, total household debt in the U.S. is creeping up, and a new nonprofit aims to measure whether companies’ carbon removal plans actually work.
7-8-2024 • 7 minuten, 23 seconden
V is for volatility
A measure of stock market volatility called the VIX has been swinging up and down wildly since Monday’s investor sell-off. Thing is, the month of August has a reputation for volatility — and this week has certainly been living up to that rep. We’ll also hear more on the challenges facing Boeing and travel back to Kent County, Michigan — a swing county in a swing state — to hear how businesspeople there view the economy.
7-8-2024 • 7 minuten, 37 seconden
Sales of weight-loss drugs slimmer than expected
From the BBC World Service: Novo Nordisk, the company behind popular weight-loss and diabetes drugs like Ozempic and Wegovy, didn’t sell as many of those medications as expected in the second quarter. A lot has to do with supply issues and competition. Then, a Nobel Prize winner has been chosen as Bangladesh’s interim leader. And Spain’s tourism industry is hitting new records, but not everyone is thrilled with the surge in visitors.
7-8-2024 • 8 minuten, 17 seconden
CDs are having a hot moment right now
In the midst of recent market volatility, many investors are seeking safe havens for their money. Cue the handy-dandy certificate of deposit, which is currently giving guaranteed returns of 4% or 5% at many financial institutions — but that may change when the Federal Reserve cuts interest rates. Also: a look at Japan’s market rebound, cash prizes that come with Olympic medals and the Justice Department’s antitrust case against Google.
6-8-2024 • 7 minuten, 46 seconden
The calm after the stock market storm
After the surge downward in stock prices yesterday, U.S. stock index futures have stabilized for now. The kindling for the Monday fire sale was Friday’s weaker-than-expected jobs report. We’ll hear more and learn from an expert how best to deal with anxiety and your investment portfolio. And we’ll also head to Kent County, Michigan — a swing county in a swing state — to hear how consumers there view the economy.
6-8-2024 • 7 minuten, 42 seconden
Japanese stocks rebound
From the BBC World Service: After a dramatic 12% drop yesterday, Japanese stocks have rebounded — with the Nikkei 225 finishing more than 10% higher at the close of trading. Then, following weeks of unrest in Bangladesh and the resignation of its prime minster, the IMF says it’s committed to the country’s economic stability. And we’ll hear about a scam targeting Chinese people around the world, in which criminals pretend to be Chinese police.
6-8-2024 • 7 minuten, 13 seconden
The stock market losses continue this morning
In early trading this Monday, the Dow Jones Industrial Average and the Nasdaq Composite Index both fell more than 1,000 points, but recovered some. A weaker jobs report on Friday suggests to some that the Federal Reserve was too slow to lower interest rates raising the possibility of a recession in the U.S. We’ll hear the latest. And later, what happens when K-Pop meets AI?
5-8-2024 • 8 minuten, 29 seconden
Another sharply down day?
U.S. stock index futures are pointing to one amid worries that elevated interest rates from the U.S. Federal Reserve might lead to a recession rather than a soft landing. We’ll check in on global markets. And later in the program, grocery prices are elevated. Now, the Federal Trade Commission is launching an investigation to assess if companies are juicing profits by raising prices.
5-8-2024 • 7 minuten, 45 seconden
Global stocks are down on fears of a U.S. recession
From the BBC World Service: The fall was most dramatic in Japan where, the Nikkei suffered its biggest one-day points drop ever. Then, the prime minister of Bangladesh has resigned and left the country following a protest that started over job shortages. And in in South Korea, AI is causing a split in the K-pop world, with some fans annoyed that K-pop stars are using AI to make music videos and experiment with song writing.
5-8-2024 • 8 minuten, 33 seconden
The U.S. economy is still adding jobs, but there’s a slowdown
The economy added 114,000 jobs in July. Analysts were expecting a slowdown, but not that much of one. Unemployment rose more than expected too. Markets are tumbling on the news amid worries that the Federal Reserve may have waited too long to cut interest rates. We’ll discuss. Plus, a housing crunch means pain for furniture retailers, and a grassroots program in the U.K. is making the sport of fencing more accessible.
2-8-2024 • 6 minuten, 53 seconden
Climate change and a reverse mass migration?
We’re in the middle of another heat wave, which can make cooler parts of the country seem more attractive. And a new analysis shows that some Americans are reversing migration patterns. Typically, people are leaving colder states for warmer ones. Now, more Americans are staying put, while others are moving from warmer places to cooler ones. But first: Markets tumble as investors blink before The Fed does.
2-8-2024 • 6 minuten, 43 seconden
Can fencing combat its elitist image?
From the BBC World Service: Fencing is currently having its moment on the Olympic stage in Paris and has been around since the very first modern, organized Olympics. And in the United Kingdom, one grassroots group is making fencing more accessible, investing in growing its popularity and helping Muslim women and girls access more organized sport. Also on today’s show Japan’s stocks tumble on concerns over the U.S. economy.
2-8-2024 • 7 minuten, 22 seconden
“A light at the end of the tunnel” for mortgage rates?
Federal Reserve Chairman Jerome Powell has set the stage for the central bank’s first rate cut in four years — but we’ll still likely have to wait a few weeks. Anticipation of a rate cut has already had ripple effects across markets, including for mortgage rates. Then, there’s a shortage of poll workers. What’s being done to boost hiring? Plus, the Biden administration takes another crack at student loan relief.
1-8-2024 • 8 minuten, 43 seconden
How the government is deploying nearly $1 trillion two years on
It’s been about two years since President Joe Biden signed the CHIPS and Science law. A week after that anniversary marks two years since the signing of the the Inflation Reduction Act. Today, we’re joined by Heather Boushey, a member of the White House’s Council of Economic Advisers, to discuss what the arrival of federal investments is beginning to look like. But first, we’ll break down Fed Chair Jerome Powell’s remarks at yesterday’s press conference.
1-8-2024 • 7 minuten, 41 seconden
What to expect as the EU’s sweeping AI rule goes into effect
From the BBC World Service: The world’s first comprehensive set of rules governing artificial intelligence has come into force across the European Union, but it’ll take two years for the law to be fully implemented. Plus, tensions between Israel and the militant group Hezbollah are making a dire economic situation even worse for people in Lebanon. And later, young people in Nigeria are taking to the streets over economic hardship.
1-8-2024 • 7 minuten, 17 seconden
When what looks like one restaurant is actually dozens
Restaurants are having a tough year, with high prices keeping customers away. Cue some innovation. Today, we’ll visit Wonder on New York City’s Upper West Side, which looks like a typical fast-food place from the outside but is actually a startup serving dishes from multiple restaurant brands. We’ll also learn more about Boeing’s space travel business, corporate investments in AI and Microsoft’s calls for laws on deepfake fraud.
31-7-2024 • 7 minuten, 10 seconden
It’s decision day for the Federal Reserve
Central bankers can adjust something called the Fed Funds interest rate in a way that makes borrowing more or less expensive in their campaign to bring inflation down to a healthy rate. But it’s like a lot of things in life: Timing is everything. We’ll discuss what to expect. Also on the show: Home purchase deals fell apart in June, and Roblox, the online game platform for kids, is grappling with a predator problem.
31-7-2024 • 7 minuten, 39 seconden
ByteDance’s Singapore workers suffer mass food poisoning
From the BBC World Service: Dozens of employees at ByteDance, the company behind TikTok, have been hospitalized after what seems to be a food poisoning outbreak. Then, heavy rains have caused deadly landslides In the Indian state of Kerala, known for its tea plantations. And South Africa is the latest country to welcome remote workers known as digital nomads, but in Cape Town, locals are unhappy.
31-7-2024 • 8 minuten, 28 seconden
Keeping the mystery around airline ticket prices
A federal appeals court has temporarily blocked new regulation that would have required airlines to disclose all their fees upfront so customers can better comparison-shop. The rule was scheduled to take effect in late fall. Now, its fate is up in the air. Then, we’ll hear how young Nigerians are responding to a cost of living crisis and what it costs to keep the International Space Station running.
30-7-2024 • 9 minuten, 41 seconden
How the DJT stock could finally make money for Donald J. Trump
Donald Trump’s social media company is trading at around $30 — down early 40% since it launched on the stock exchange this spring. So far for the former president, the wealth there is locked up on paper. But something called a “Standby Equity Purchase Agreement” could mean cold, hard cash in former president’s hands. Also, the Senate is poised to approve legislation aimed at protecting children online. We’ll hear the latest.
30-7-2024 • 6 minuten, 40 seconden
Unrest in Venezuela as opposition supporters protest election result
From the BBC World Service: Security forces have fired tear gas and rubber bullets at protesters in Venezuela, who demonstrating against Sunday’s disputed election result. President Nicolás Maduro, who was declared the winner, alleges that his opponents are trying to stage a coup. Later in this mornings’s program, we’ll examine the increasing numbers of young people leaving Nigeria.
30-7-2024 • 6 minuten, 43 seconden
No summer vacay for the Fed
What are the chances of an interest rate cut from the Federal Reserve this week? And how much will the central bank be paying attention to the unemployment report? We’ll discuss that and more as the guardians of rates gather for a meeting tomorrow and Wednesday. Then, we’ll unpack what Venezuela’s presidential election results mean for the country’s economy and hear why electric vehicle demand has been slowing.
29-7-2024 • 6 minuten, 44 seconden
Say you want kids. Can you afford it?
A new survey from the Pew Research Center finds that money is a major factor in the kids-or-no-kids decision. Among adults under 50 who say they’re unlikely to have children, 36% say they can’t afford them. Also on the show: We’ll examine an $80 million settlement involving banks and price-fixing of bonds, and hear about pollution-reducing projects in 30 states that will use $4.3 billion in EPA grants.
From the BBC World Service: Venezuelan President Nicolás Maduro has been declared the winner of the county’s election — but the result has sparked accusations of fraud from the opposition, who claim their candidate actually won. Then, Japanese airports are cracking down on a novel and potentially hazardous way of traveling through endless airport corridors: electric passenger-carrying suitcases. And later, we look at why Australia’s minimum wage increase hasn’t got everyone’s support.
29-7-2024 • 8 minuten, 31 seconden
AI takes on the Paris Olympics
The opening ceremony of the Summer Olympics are slated to get underway today in Paris. And while artificial intelligence isn’t competing (yet), it is playing a role in scoring, crowd control and security, and even finding talent. Also on the show: Inflation inches closer toward the Federal Reserve’s target in June, and California’s Supreme Court deals a blow to efforts by gig workers to be classified as employees with certain benefits.
26-7-2024 • 8 minuten, 10 seconden
It’s not just what you know, it’s who you know — for kids, too
A new study from researchers at Harvard’s Opportunity Insights and the Census Bureau finds that children have a better chance at moving up the economic ladder if most of the adults they interact with are employed — not just in the household but beyond. We’ll delve in. Plus, the Biden White House still has lots on its economic plate before a new president comes to power in six months.
26-7-2024 • 7 minuten, 12 seconden
French trains hit by sabotage
From the BBC World Service: Just as the Olympics are getting underway in Paris, the French train network has been hit by arson attacks, causing major delays and disruption. The incident will put even more focus on security at the games, which is already extremely tight. Then, we’ll look at how AI is being used to help make athletes’ lives easier and scoring more accurate at this year’s Games.
26-7-2024 • 8 minuten, 6 seconden
When you might be charged more based on your personal data
You’ve probably heard of dynamic pricing, like on ride-sharing apps. Now, the Federal Trade Commission is looking into surveillance pricing, which is when companies charge you a different price than someone else for the same product or service based on data they have on where you are and clues about your interests and lifestyle. We’ll unpack. Plus, GDP was higher than anticipated in the second quarter — but it wasn’t driven by consumers.
25-7-2024 • 4 minuten, 10 seconden
What goes up must come back down
Wall Street indexes are droopy this morning after a surge downward yesterday. The S&P 500 fell 2.3% and the Nasdaq had its deepest drop in two years. Some are calling it “rebalancing” as investors pull back from some of their tech darlings. And, as a follow-up to yesterday’s episode, we check in with Juan Carlos Cisneros Suarez, who has been waiting for a visa and has skills in computer programming or robotics.
25-7-2024 • 6 minuten, 43 seconden
AI stocks lead tech slump
From the BBC World Service: The stock market sell-off is spreading from the U.S. to Asia and Europe. There have been declines across the board, but companies specializing in AI and semiconductor chips have been hit especially hard. Part of it has to do with expectations of additional trade restrictions from the U.S. on chip trade with China. Then, smaller brands are competing against fashion giants to deck out this year’s Olympic athletes.
25-7-2024 • 8 minuten
One airport, thousands of stranded passengers
“We started breaking down crying, because I didn’t think I would get out for my mother’s funeral.” “I’m about $10,000 out of pocket right now for just lodging, food and transportation.” These are just a few of the pained frustrations passengers at Atlanta’s airport, Delta’s primary hub, shared after flight delays and cancellations following the recent CrowdStrike outage. Also: sluggish home sales, the ban on noncompete agreements and politicization of the Federal Reserve.
24-7-2024 • 7 minuten, 16 seconden
What pathways to work do immigrants without permanent legal status have?
Working for cash off the books is illegal. But there are routes to work for immigrants who don’t have permission to in the U.S. as an independent contractor or by establishing a Limited Liability Company, or LLC. Today, we’ll hear from one young man who’s seeking a visa that would allow him to work — but he’s looking to start an LLC in the meantime. But first: Tesla is losing ground overseas.
24-7-2024 • 6 minuten, 47 seconden
Talk of turbulence in aviation supply chains at British international airshow
From the BBC World Service: Some of the world’s biggest civilian and defense aviation businesses are gathered at this year’s Farnborough Airshow, a trade expo in the south of England. But with deals on the table, it’s clear that plane makers are struggling to keep up with demand. Also: a look at the the realities of Venezuela’s struggling economy as citizens head to the polls on Sunday.
24-7-2024 • 8 minuten, 17 seconden
A candidate shake-up means shaking up campaign spending
Despite threats of legal challenges from the right, Vice President Kamala Harris’ camp appears poised to inherit around $100 million from what was the Biden-Harris campaign — and that’s after an additional $100 million was raised in the 24 hours after Sunday’s shake-up. So how will a new name at the top of the Democratic ticket change how campaign dollars are spent? Plus, little stocks are starting to get bigger attention.
23-7-2024 • 6 minuten, 36 seconden
It’s day 5 of the great computer outage of 2024
The Crowsdstrike software update — which knocked out an estimated 8.5 million Windows computers and impacted airlines, government operations and 9-1-1 emergency calls, is continuing to wreak havoc, and outage costs are estimated to be several billion dollars. We’ll discuss the latest and hear what to do if you’re one of the many, many passengers who’s been affected. And later: Why is everyone talking about “The Magnificent Seven” tech stocks?
23-7-2024 • 6 minuten, 40 seconden
India announces high-spending budget
From the BBC World Service: In India’s recent election, Prime Minister Narendra Modi’s party won a third term but lost its ruling majority. Now, the coalition released its first budget, focusing on stability and boosting the economy. Then, the founder of South Korea’s popular KakaoTalk app has been arrested on allegations of manipulating stock prices. And there are growing calls to add an African country to the highly lucrative Formula One series of races.
23-7-2024 • 9 minuten
After the CrowdStrike outage and Biden’s big announcement, how’s the economy adjusting?
Economic markets take a beat to adjust to Biden’s announcement that he won’t seek re-election; what the entire cybersecurity industry can learn from Friday’s CrowdStrike outage; and a new law makes it easier to pull emergency cash from a retirement account.
22-7-2024 • 6 minuten, 29 seconden
A look at Biden’s economic legacy
On the heels of the President’s announcement that he won’t seek re-election, assessing how history will remember the Biden economy. Plus, continued fallout from Friday’s CrowdStrike outage and global tech meltdown
22-7-2024 • 6 minuten, 50 seconden
Investors react to Biden leaving the Presidential race
From the BBC World Service: After Joe Biden announced he’s dropping out of the presidential race, Kamala Harris has secured the backing of some of the Democrats’ biggest donors; so what are investors thinking? Students in Bangladesh continue their protests a day after the Supreme Court eliminated most of the government job quotas they were fighting against. In Spain, concerns about tourism’s impact on locals has sparked protests on the island of Mallorca, with hundreds of people taking to the streets.
22-7-2024 • 7 minuten, 16 seconden
The economy gets a check-up
New data out this week on retail sales, shipping rates and more offer a snapshot of the economy’s overall health. Plus, the knock-on economic effects of tariffs, and Shanghai becomes a hyper-competitive hub for cafes.
19-7-2024 • 7 minuten, 24 seconden
Fact checking economic promises from the RNC
Donald Trump promised sweeping changes to tax policy and interest rates, but would he really have the power to carry those out? Plus, why Silicon Valley billionaires are suddenly flocking to the GOP, and a widespread tech outage has disrupted businesses around the globe, including major airlines.
19-7-2024 • 6 minuten, 58 seconden
Huge IT outage affects global businesses
From the BBC World Service: A raft of businesses and organizations running Microsoft’s Windows apps have been affected by a major global IT outage. Students in Bangladesh are continuing their blockade of roads across the country, in protest of a quota system on government jobs. You may think of Rome or Paris when asked about the café capital of the world – but China’s financial capital is becoming a new contender. At least that’s what Shanghai’s local government claims.
19-7-2024 • 7 minuten, 21 seconden
Caught in the middle of the U.S. and China
First, semiconductor manufacturer TSMC has seen a surge in sales, yet its stock took a hit yesterday. That followed news the U.S. might further curb exports to China and comments by former President Donald Trump that TSMC’s home base of Taiwan would need to start paying for its own defense. Then, as the U.S.-China economic relationship becomes more contentious, where does that leave Europe? We dig in. And later: why women’s health is so far behind the curve.
18-7-2024 • 10 minuten, 14 seconden
The GOP want to preserve Social Security with no cuts. Can it?
At the start of this week’s Republican National Convention, Republicans adopted a new platform that promises to preserve Social Security and Medicare with no cuts, while also pledging to cut taxes for working Americans. Can those two objectives be squared? We’ll also hear more about the economics of J.D. Vance and learn how Gaza’s farmers are faring amid war. Plus, from today’s “Marketplace Tech,” how can we limit the fallout from misinformation after political violence?
18-7-2024 • 9 minuten, 5 seconden
Chips dip on fears of further export controls
From the BBC World Service: Despite big profits for chipmakers, the prospect of further curbs on exports of semiconductor technology to China has prompted a major sell-off by investors. Plus, a court in South Korea has ruled same-sex couples should be eligible for the same health insurance benefits as their heterosexual counterparts. And we hear how conflict in Gaza is affecting those who earn a living from the land.
18-7-2024 • 7 minuten, 46 seconden
The Republican Party embraces crypto
The GOP wants to be clear that it’s pro-cryptocurrency. The official Republican platform adopted earlier this week says the party will “defend the right to mine bitcoin.” We’ll hear more about the intersection of digital assets and politics. Plus, dinners in Spain tend to start pretty darn late — after 9 p.m. on average. One reason is that the working day runs deep into the evening. But could things be changing?
17-7-2024 • 7 minuten, 46 seconden
The benefits — and costs — of hosting a political convention
According to Milwaukee’s visitors bureau, hosting the Republican National Convention this week comes with $200 million in additional economic activity. But that figure doesn’t include business lost when locals try to avoid the crowds. Plus, stock prices wake up with a hangover. And later, it’s day 2 of Amazon Prime Day. Today, we check in on Amazon’s pledge to spend $1.2 billion to provide free job training to about 300,000 employees.
17-7-2024 • 7 minuten, 45 seconden
Amazon’s U.K. workers narrowly lose union vote
From the BBC World Service: Workers at an Amazon warehouse in the United Kingdom have failed to gain union recognition by the slimmest of margins. A majority of support was needed but just under 50% voted in favor. Then, in Bangladesh, thousands of students have been protesting over a lack of jobs. And in Spain, some are questioning the culture of working well into the evening.
17-7-2024 • 7 minuten, 21 seconden
J.D. Vance and a “much more populist economic mindset”
If the Trump/Vance ticket emerges the winner in November, what might a Vice President J.D. Vance’s perspective on the government’s role in business and trade look like? Hint, Vance sees a big role for government. Then, Fed Chair Jerome Powell has given investors tantalizing hints on when rate cuts may occur. Plus, industrialized countries are getting older. What might immigration mean for economies as populations age?
16-7-2024 • 9 minuten, 40 seconden
A look at J.D. Vance’s economic views
Yesterday, former President Donald Trump announced that Ohio Senator, author and venture capitalist J.D. Vance would be his running mate. But as a populist conservative, Vance’s economic views buck those of the traditional, Republican establishment. We’ll hear more. Also, we’ll hear about the Secret Service’s additional responsibilities besides protecting presidents and unpack how political turmoil and violence might affect the United States’ position in the global business community.
16-7-2024 • 6 minuten, 55 seconden
Czech billionaire says he can deliver on U.K. mail
From the BBC World Service: The United Kingdom’s 500-year-old postal service is up for sale. The Royal Mail, with its iconic red mailboxes, operates similarly to the United States Postal Service, but is publicly listed. Now, a $6.5 billion offer has been accepted from Daniel Křetínský, who explains why the nationally important company should be entrusted to him. Also: a look at the self-storage boom in Canada and beyond.
16-7-2024 • 6 minuten, 53 seconden
How can we civilly talk about politics in the workplace?
As people process news of the attempted assassination of former President Donald Trump, some of that processing may occur at work. And the workplace — like the rest of America — is a polarized place. Today, we’re joined by Johnny C. Taylor, Jr., president and CEO of the Society for Human Resource Management, to hear how managers can guide healthy conversations over differing political viewpoints. Plus: a pulse check on China’s economy.
15-7-2024 • 6 minuten, 28 seconden
Market movements, political calculus and an assassination attempt
Stocks are set to open higher two days after the assassination attempt on former President Donald Trump. And this week, Republicans begin their convention in Milwaukee to formally nominate Trump as their presidential candidate. We’ll take a closer look at how investors are responding. Then, we’ll hear about reports of toxic metals in tampons and examine how World War I shaped labor participation for women.
15-7-2024 • 8 minuten, 7 seconden
China’s economy stutters
From the BBC World Service: China’s leaders meet to talk about its economy as official figures show growth is slowing again, clocking the country’s economic growth rate at 4.7% over the second quarter. How might the government respond? And later in the program, music marketing is changing. We take a look at how music reviewers on TikTok are influencing the industry as a whole.
15-7-2024 • 7 minuten, 31 seconden
How you feel about the economy may depend on how you vote
Feelings about the economy have been sort of middling, with consumers optimistic about jobs but pessimistic about prices. But there’s another aspect of consumer surveys that doesn’t often get reported — sentiment can skew heavily partisan. Today: how consumers see the world through Republican or Democrat lenses. Plus, we’ll do the numbers on wholesale prices, hear about a Marathon Oil pollution settlement and learn about a downturn in TV and film production.
12-7-2024 • 9 minuten, 56 seconden
Australia’s migration policy and disability discrimination
Australia is sometimes called a “migration nation,” as a third of its population was born abroad. That said, people with disabilities are often not welcome. Many foreigners with disabilities or serious medical conditions are routinely denied an Australian visa. But there’s pressure for policy change. Also on the show: A three-judge panel has concluded that many U.S. college athletes are likely employees and may be protected under federal minimum wage laws.
12-7-2024 • 6 minuten, 38 seconden
Colombia’s president wants cocaine legalized
From the BBC World Service: Colombia’s president says a lot of the country’s problems would be solved and the country’s armed conflict could end within a day if the United Nations declared cocaine legal across the world. We’ll discuss. Then, China is constructing twice as many solar and wind plants as the rest of the world combined, and many foreigners with disabilities in Australia are denied visas.
12-7-2024 • 8 minuten, 5 seconden
A useful investment strategy? Copy what members of Congress are doing
A Senate committee is set to hold a hearing later this month on a new bill that would ban stock trading by members of Congress and their families. The legislation was unveiled yesterday. Some lawmakers are outperforming the market — and that’s spurred copycat funds ordinary investors can jump into. But first, inflation this morning came in lower than expected. And later: why the FTC is taking a closer look at pharmacy benefit managers.
11-7-2024 • 7 minuten
Rising incomes amid inflation frustrations
The closely-watched consumer price index is slated to be released later this morning. Despite agita over continued rising prices, incomes have continued to outpace inflation. But consumer sentiment and spending can be fickle things. We’ll hear more. Plus, does Citibank have a problem with its safety systems? Regulators seem to think so. Also: Be wary of that unsolicited job offer. If it seems too good to be true, it probably is.
11-7-2024 • 7 minuten, 29 seconden
Brazil’s Indigenous people demand a halt to mining
From the BBC World Service: Indigenous leaders in Brazil are asking the United Nations to pressure President Luiz Inácio Lula da Silva to stop illegal mining on their Amazon lands. We’ll hear the latest. Then, a potential rival group may soon rival the Economic Community of West African States. And later, Greece imposes regulations to limit the areas on beaches that bars and restaurants can use after complaints by locals.
11-7-2024 • 7 minuten, 33 seconden
How to pay twice for car insurance
A major regional bank has agreed to resolve claims that it harmed thousands of customers by opening fake accounts, and charging for unnecessary insurance tied to car and truck loans. Fifth Third Bank will pay millions of dollars and is labeling these “legacy issues.” We’ll unpack. Then, we’ll also do some bond and stock markets Powell-parsing, and visit a Danish town where Novo Nordisk is racing to boost weight-loss drug production.
10-7-2024 • 7 minuten, 34 seconden
What are you willing to do to avoid layoffs?
Would you work weekends? Make a longer commute? Even take a pay cut? While unemployment isn’t high by historic standards, it is higher than it was last summer. A new survey outlines the sacrifices some workers are willing to make to avoid getting the axe. Plus, a new platform elevates Black country artists, and Fed Chair Jerome Powell hinted that the central bank may be getting closer to cutting rates.
10-7-2024 • 7 minuten, 54 seconden
South Korean Samsung workers go on indefinite strike
From the BBC World Service: A union representing workers at South Korean technology giant Samsung Electronics has called on its 30,000 members to go on strike indefinitely as part of its campaign for better pay and benefits. Plus, NATO members are holding a three-day summit to mark the organization’s 75th birthday — and the focus is on Ukraine. Then, we visit the Danish town where Novo Nordisk, maker of weight-loss drug Ozempic, is based.
10-7-2024 • 8 minuten, 13 seconden
Sackler family may now face fresh Oxycontin lawsuits
After last month’s Supreme Court ruling, a judge weighs whether to allow lawsuits against Sackler family members. Plus, waiting on word from Jerome Powell and the Fed, and what happens when an online DNA test kicks up complicated history.
9-7-2024 • 8 minuten, 6 seconden
At NATO summit, nations weigh Ukraine spending
Military spending and aid for Ukraine are high on the agenda at this week’s NATO summit; Americans added more than $11 billion to consumer debt in May; and a practical look at newly-implemented guidelines from the Pregnant Workers Fairness Act.
9-7-2024 • 7 minuten, 38 seconden
Modi meets Putin
From the BBC World Service: India’s prime minister, Narendra Modi, is in Russia to “deepen ties” between the two countries on Mr. Modi’s first trip to Russia since the beginning of its war Ukraine. China’s biggest electric carmaker — and Tesla’s big rival — BYD has reached a deal to build a $1 billion manufacturing plant in Turkey. And Sweden marks 50 years of paid parental leave for couples to share.
9-7-2024 • 8 minuten, 30 seconden
When a job opportunity is actually a scam
You may have gotten the unsolicited texts, LinkedIn messages or other offers from scammers posing as recruiters. The may even have a legitimate-looking listing on a job hiring site. You have a virtual interview, then the recruiter starts asking for personal information like your Social Security number to fill out “employment paperwork” — but actually they’re stealing your identity. Plus, examining the Sahm Rule and use of the U.S. dollar in Lebanon.
8-7-2024 • 7 minuten, 43 seconden
A powerful new player in Hollywood
Paramount Global, which owns Paramount Studios, CBS and more, has agreed to merge with Skydance Media, the source of some of Paramount’s biggest films. The deal will cost Skydance and its founder David Ellison $8 billion and would cement Ellison’s position as a Hollywood mogul. We’ll unpack. Plus, more Americans are traveling abroad thanks to a strong U.S. dollar. And there’s more people looking for work, but it’s taking them longer to find jobs.
8-7-2024 • 7 minuten
How France’s election shock could shake up its economy
From the BBC World Service: France is facing political gridlock after a left-wing alliance emerged as the surprise winner of France’s snap election. The coalition secured the most seats but no outright majority. Also on the program: Trust in Lebanon’s financial system is at an all-time low, after a banking collapse and hyperinflation. Plus, Samsung is experiencing its first-ever strike in South Korea the over pay and holidays.
8-7-2024 • 8 minuten, 30 seconden
More signs of a cooling labor market
The U.S. economy added 206,000 jobs in June, according to the labor department. But job growth in previous months was revised down significantly. What can we make of this data? And what does it mean for next steps for the Federal Reserve? Workers also saw the slowest pace of wage growth in two years. And later: views on France’s election and economy from a farmers market in the French city of Lille.
5-7-2024 • 8 minuten, 44 seconden
Not necessarily a “new dawn” for economic policy in the U.K.
While the Labour Party saw a historic win in Thursday’s general election in the U.K., the new prime minister, Sir Keir Starmer, is without a raft of money to implement sweeping reforms. So how will the new government differ economically from the one seen under Conservative rule? And later, it’s hard to prepare a meal with a newborn in your hands. That inspired one couple to open a restaurant in Atlanta.
5-7-2024 • 7 minuten, 10 seconden
A landslide for Labour in the U.K. election
From the BBC World Service: The Labour Party, led by Sir Keir Starmer, won a sweeping victory in the U.K.’s general election held Thursday. We’ll hear from voters about what they hope for in the new government and interrogate just how much change the new administration can realistically deliver. Plus, French voters are also going to the polls on Sunday, and the cost of living is weighing heavy on voters’ minds.
5-7-2024 • 9 minuten, 16 seconden
A conversation about reparations and discovering family histories
As part of our “Golden Promises” series, we’re exploring the battle over slavery reparations in California. Today, Marketplace special correspondent Lee Hawkins speaks with Lotte Lieb Dula, founder of Reparations 4 Slavery, about the discovery of her family’s connection to slavery and how she’s working to repair and make things right. Also on the show: Mexican President-elect Claudia Sheinbaum’s next steps on energy could make waves in the U.S., especially in Texas.
4-7-2024 • 7 minuten, 54 seconden
Is Social Security a drag on national debt? Depends on how you define “debt.”
The national debt is tremendous and growing. And as lawmakers talk about ways to address it, Social Security spending — which totals roughly $1.5 trillion a year — is often brought up as playing a big role. But by law, Social Security cannot contribute to the national debt. Today, we’ll parse exactly how the Social Security Administration invests money and pays out. Then, heat insurance in India has helped thousands of female workers.
4-7-2024 • 7 minuten, 6 seconden
Jamaica hit by Hurricane Beryl
From the BBC World Service: Hurricane Beryl has hit Jamaica after leaving an “Armageddon-like” trail in Grenada, but the Jamaican prime minster says the worst is yet to come. We’ll hear more. Then, in India, women in the western state of Gujarat are being offered compensation that allows them to stay home during periods of extremely hot weather. And Japan’s digital minister has declared victory in his war against floppy disks.
4-7-2024 • 7 minuten, 11 seconden
Tractor Supply Company and America’s culture wars
Tractor Supply Company — a farm, lawn and home improvement chain mainly in rural areas — recently announced it would abandon most of its diversity and climate advocacy goals. Now, the head of the National Black Farmers Association is calling for the resignation of Tractor Supply’s CEO. But first, we’ll unpack how markets are responding to “the Trump trade.” And later: job cuts at John Deere, the first Esports World Cup and traction for indie game studios.
3-7-2024 • 8 minuten, 51 seconden
An AI boom means surging emissions
Artificial intelligence requires an enormous amount of electricity. Google, with AI now added, says it increased its carbon emissions last year, despite a pledge to reach net-zero by 2030. So what are Google and other companies doing to address efficiency issues? We’ll discuss. Then, tomorrow is the United Kingdom’s general election, and the harsh realities of economic stagnation are on the minds of many voters there.
3-7-2024 • 8 minuten, 43 seconden
It’s the last day of campaigning in the U.K. election
From the BBC World Service: The United Kingdom goes to the polls in the general election tomorrow — and polling suggests the economy is the No. 1 issue with voters. We hear the key economic anxieties voters are voicing. Then, the Esports World Cup kicks off today in Saudi Arabia, and there are calls in China for greater restrictions on the sale of hyper-realistic silicone face masks.
3-7-2024 • 7 minuten, 51 seconden
Labor Department to propose first-ever heat protections for worker
More than 60 million Americans are facing a potentially record-breaking heat wave across the South and Western U.S. this week. Still, people will be showing up to work on farms, construction sites and other workplaces where extreme heat exposure is a threat. Now, the Labor Department is proposing new safety standards. Also: a conversation with James LeBrecht, co-director of the film “Crip Camp” about accessibility in the film industry.
2-7-2024 • 8 minuten, 4 seconden
There’s a new economic indicator in town. And it’s powered by AI.
Standard economic indicators like the unemployment and inflation rates are backward-looking. Now, a new tool, the Zeta Economic Indicator, analyzes the economy in real time and utilizes artificial intelligence. We’ll hear more. Plus, regulators in France are set to level antitrust charges against chipmaker Nvidia, and the EU says a Meta subscription service violates Europe’s Digital Markets Act. Then, is paying farmers to conserve Colorado River water worth the cost?
2-7-2024 • 8 minuten, 30 seconden
Will Sri Lanka debt deal solve its economic woes?
From the BBC World Service: Sri Lanka’s President Ranil Wickremesinghe is presenting lawmakers with a deal made by creditors after the country’s 2022 financial crisis, but the government is facing criticism over the agreement. Also: Samsung workers in South Korea are planning a strike. Then, David Ricks, CEO of Eli Lilly — the maker of popular weight-loss drugs Mounjaro and Zepbound — says more needs to be done on global drug counterfeiting.
2-7-2024 • 10 minuten, 35 seconden
Markets, economics and elections outside the United States
This morning, we’re talking economics and global politics. First, the far-right saw major wins in the first round of France’s elections. Then, high housing costs are weighing on the minds of voters in the United Kingdom, who head to the polls on Thursday. Plus, there are reports that Boeing will be offered a Justice Department arrangement that would allow the company to avoid a trial in connection with two 737 MAX crashes.
1-7-2024 • 7 minuten, 6 seconden
Is online content moderation a form of free speech?
Or does it hinder free speech? That’s the thorny issue the Supreme Court is expected to decide in just a few hours, as it releases its final rulings in what’s been another highly consequential term. We’ll hear more on a case challenging how social media companies deal with content on their platforms. Plus, a look at Major League Soccer’s surging popularity and how the Dawes Act cratered Indigenous wealth.
1-7-2024 • 7 minuten
The far-right wins big in France’s elections
From the BBC World Service: Marine Le Pen’s far-right National Rally party has pulled off a victory in the first round of elections in France and could turn French politics on its head. Then, with only three days to go before the United Kingdom’s general election, one of the big issues is housing costs. But are any of the political parties’ pledges giving people hope that they can solve Britain’s housing crunch?
1-7-2024 • 6 minuten, 54 seconden
Politics and “a tale of different economies”
Last night, President Joe Biden and former President Donald Trump sparred off. Today, we’ll recap some of economic issues spotlighted in the presidential debate. Inflation was one of the hot topics, and the latest release of the Federal Reserve’s preferred measure of inflation shows inflation cooling — but how you experience rising prices can be splintered along partisan lines. We discuss. Also, Amazon plans on launching a “discount” section with goods shipped direct from China.
28-6-2024 • 7 minuten, 38 seconden
Market movements and uncertainty in American politics
A rule of thumb is that market players don’t like uncertainty. The question this morning is whether there’s more or less of it in the wake of President Joe Biden’s rough showing against former President Donald Trump during last night’s debate. We’ll track how the debate is affecting the movement of money. Plus, Social Security cuts are inevitable by 2035 unless lawmakers act. Can a similar crunch from the ’80s offer guidance?
28-6-2024 • 7 minuten, 5 seconden
Funding for Ukraine up for debate again
From the BBC World Service: Ukraine’s President Volodymyr Zelenskyy has signed a security pact with the European Union during a visit to Brussels. We’ll delve in. Then, following weeks of protests in Argentina over proposed austerity reforms, the country’s parliament has approved controversial measures put forward by President Javier Millei. And later, prolonged heatwaves in India have boosted sales of air conditioning units.
28-6-2024 • 7 minuten, 47 seconden
Are new stadiums a good use of taxpayer dollars?
As cities look to grow and innovate in the recovery from the pandemic, some are pushing for new sports stadiums. The idea is that fresh ballparks attract visitors and create jobs, but these projects are almost always funded by public dollars. We’ll do the numbers on the investment and payoff. Also on the show: A ransomware attack could put a sizable dent in auto sales this month, and marketing around Pride is down this year.
27-6-2024 • 9 minuten, 7 seconden
When a politician is paid out matters, Supreme Court says
In a 6-3 ruling, Supreme Court justices have narrowed the scope of federal corruption law, as it pertains to state and local officials. Justices ruled that a former mayor in Indiana did not commit a crime when he took $13,000 as a purported consulting fee after — not before — awarding city contracts to a trucking company. We’ll also have an honest conversation about Social Security funding. Plus, is Nike a dinosaur brand?
27-6-2024 • 7 minuten, 26 seconden
Japanese Yen hits new low
From the BBC World Service: The Japanese Yen has fallen to its weakest level against the U.S. dollar for nearly 40 years. It’s causing jitters in the markets, and analysts warn about potential government intervention. Then, protests are continuing in Kenya over the unpopular new finance bill. And as Barcelona becomes the latest city to crack down on short-term rentals, we hear from an unhappy property owner.
27-6-2024 • 7 minuten, 30 seconden
A Goliath vs. Goliath story 20 years in the making
A federal judge has rejected an antitrust settlement that would have lowered the fees Visa and Mastercard charge every time you use your credit card to pay for a purchase. The judge ruled the settlement did not go far enough, agreeing with retailers who want to chip away at the power held by credit card companies. We’ll hear more. Then, hundreds of thousands of home sitting empty in Japanese cities. Expatriates are noticing.
26-6-2024 • 7 minuten, 29 seconden
What do you get when you cross a VW with a Rivian electric?
Volkswagen says it’s putting $5 billion into U.S. electric truck company Rivian. The cash infusion comes at a crucial time for Rivian, as it watches other EV startups go under. But VW also needs something out of this. We unpack. Plus, why it’s so difficult to maintain America’s aging bridge infrastructure and how the market for online comics is doing as Webtoon Entertainment looks to go public.
26-6-2024 • 8 minuten, 34 seconden
Kenya anti-tax protests turn violent
From the BBC World Service: At least 13 people have been killed and many more injured after police fired into crowds protesting Kenya’s controversial finance bill in Nairobi. An angry crowd stormed the parliament before setting parts of it on fire. Protests have taken place for several days. How did Kenya get here? Also: a look at the expats buying and renovating some of the 9 million empty homes in Japan.
26-6-2024 • 8 minuten, 37 seconden
The latest snag in the attempt to ease student loans
Parts of President Joe Biden’s student loan repayment plan — which widens eligibility for income-based loan repayment — are on hold after federal judges in Kansas and Missouri issued rulings yesterday in lawsuits brought by a group of Republican attorneys general. We dig in. We also delve into stock market volatility and the future of the cruise industry. And later: a look at how reality TV came to be.
25-6-2024 • 9 minuten, 11 seconden
The economics — and moral complications — of reality TV
When it comes to reality TV, don’t give too much credit to the “reality” part. Yet despite its heavy editing and construction, reality TV has sometimes shaped the wider culture. In this episode, we talk about the economic calculus that led to a genre so many people love to watch, love to hate or both. But first: Nvidia shares enter correction territory.
25-6-2024 • 7 minuten, 52 seconden
Sudan’s food economy is in a dire situation
From the BBC World Service: After 14 months of a civil war, a severe humanitarian and economic crisis is unfolding in Sudan. Grain shipments from Ukraine have ceased, humanitarian aid faces significant blockades and the country faces the largest displacement of children worldwide. We’ll hear more about the conflict and its impact. We’ll also learn more about the role of tax policy in the upcoming U.K. election and a land dispute involving Catholic nuns in Spain.
25-6-2024 • 8 minuten, 8 seconden
The case for wage insurance
Job creation has been robust coming out of the worst of COVID, yet threats to workers remain: international competition, the Green Transition, artificial intelligence. How can workers respond? Today, we explore wage insurance as an option that could help. Also: What’s behind this election year stock rally? But first, Apple’s App Store has run afoul of European regulators. We’ll unpack.
24-6-2024 • 7 minuten, 50 seconden
What the FAFSA misses
The deadline for students and parents to get their federal financial aid form into colleges and universities is this Sunday. With all that data you input on income and savings, there’s still something big missing: overall household wealth. Some education policy researchers say the financial aid system should be taking a closer look at big assets, like homes. Also: Federal prosecutors are recommending criminal charges against Boeing, and visas for nurses are running out again.
24-6-2024 • 8 minuten, 3 seconden
The EU takes a bite out of Apple’s App Store
From the BBC World Service: Brussels has accused Apple of violating EU competition rules with its App Store. It’s the first time EU regulators have enforced the new Digital Markets Act against a major tech firm. Then, Indian students are furious following the last-minute cancellation of a crucial entrance test for post-graduate medical courses. And rental scams are on the rise in the U.K., with some criminals targeting illegal cannabis farms.
24-6-2024 • 8 minuten, 24 seconden
The Supreme Court, tribes and online gambling
In a flurry of recent U.S. Supreme Court decisions, the Justices’ lack of action on one case is a major victory for the tribal gaming industry. The court left in place an agreement between the Seminole Tribe of Florida and the state of Florida, and left the door open for tribal nations to expand into online gaming. We’ll delve into the impact. And we’ll also examine how immigration policy has shaped the U.S. economy.
21-6-2024 • 7 minuten, 59 seconden
The latest on that potential TikTok ban
TikTok’s Chinese parent company, ByteDance, has six months to divest or the U.S. plans to ban the app for national security reasons. But in a new court filing, ByteDance calls the U.S. government’s demands unconstitutional and says government officials have refused to seriously negotiate for two years. Also, AI comes for banking jobs. And later, what if your deepfake was circulating halfway across the world in China?
21-6-2024 • 8 minuten, 7 seconden
Kenyans push back against new taxes
From the BBC World Service: Kenya’s government has been forced to drop some of its plans for new taxes, but widespread protests are continuing over its controversial finance bill. We’ll hear about the government’s intent behind the proposed new taxes, as well as which policies have now been scrapped. Also, what does a British court judgement on the climate impact of oil projects mean for future developments?
21-6-2024 • 6 minuten, 53 seconden
The extra long lag of the Fed’s interest rate hikes
In the U.S., the Federal Reserve has decided to keep rates elevated for a year now. The Fed’s goal is to hit a 2% inflation target, but that last mile has been difficult. And part of it has to do with how we are able to lock in debt at times of lower rates in the U.S. We’ll discuss. We’ll also hear about RV sales, then the Europe and China’s tit-for-tat trade battle.
20-6-2024 • 7 minuten, 11 seconden
When each state has “its own unique cannabis industry”
Cannabis is now legal — for medical or recreational use — in 38 states, plus D.C. But marijuana remains illegal at the federal level, meaning there are stringent rules governing the transportation of cannabis. That can leave some parts of the industry stranded, sometimes on literal islands. Today, we travel to Martha’s Vineyard to hear how those hurdles have impacted one dispensary. Plus, a look at fossil fuel use and the effort to reopen a criminal case against Boeing.
20-6-2024 • 7 minuten, 35 seconden
China goes tit for tat on tariffs
From the BBC World Service: Chinese carmakers are urging Beijing to slap import taxes of up to 25% on some European cars, following the European Union’s confirmation that it will place tariffs of up to 38% on electric vehicle imports from China. Then, global fossil fuel use and carbon emissions hit record highs last year, despite growing energy production from wind and solar. And charities are worried about the impact of some G7 governments’ slashing foreign aid budgets.
20-6-2024 • 9 minuten
Support has waned for the Buy Black Movement
One effort in trying to narrow the racial wealth gap is by supporting Black-owned businesses. That effort grew in 2020 amid racial justice protests after the murder of George Floyd, but where do things stand now? We check in. Plus, Brooklyn’s Long Time Tattoo is a queer Asian American Pacific Islander run tattoo collective that’s helping create an inclusive space for clients, other tattoo artists and the wider community.
19-6-2024 • 7 minuten, 19 seconden
Black entrepreneurship and closing the racial wealth gap
Part of the of the racial wealth gap is a gap in business ownership. Today, we’re joined by Kezia Williams, CEO of the Black upStart, a national initiative and curriculum for Black entrepreneurs, for a conversation about some of the hurdles Black business owners face and efforts to close the gap. Also on the program: A new study finds that expanding early childhood education could be well worth the investment.
19-6-2024 • 8 minuten, 19 seconden
Amazon U.K. staff vote on union representation
From the BBC World Service: Amazon could be forced to recognize a trade union for the first time in the United Kingdom, as staff at its warehouse in Coventry, England, begin consulting with the GMB general trade union union ahead of a July vote. Also: An Afrobeats track has become the first of the genre to break one billion streams. We’ll explore the genre’s rapid growth.
19-6-2024 • 7 minuten, 48 seconden
Another bad day for Boeing
Yet another Boeing whistleblower is set to testify at a Senate hearing this afternoon, citing a failure to properly track defective parts in the company’s factories. Plus, the tragedy of errors and shortcuts that led to last year’s Titan submersible implosion.
18-6-2024 • 8 minuten, 21 seconden
Closing a $50 billion tax loophole for the wealthy
The Treasury and IRS announced a new initiative Monday to close a tax loophole for wealthy people that could raise more than $50 billion in revenue over the next decade. Plus, the evolving economics of “gayborhoods” in U.S. cities.
18-6-2024 • 6 minuten, 34 seconden
Putin heads to Pyongyang
From the BBC World Service: Russia’s Vladimir Putin is visiting North Korea and its leader Kim Jong Un for the first time in 24 years, as the pair look to deepen their relationship in the face of international isolation. And: Wildfires forced tens of thousands of people to evacuate the Greek island of Rhodes last year – now there’s a focus on how to make tourism more sustainable.
18-6-2024 • 7 minuten, 10 seconden
The Fed says one thing, investors hear another
Wall Street investors bet on extra rate cuts this year, in spite of Fed predictions that there will be just one. Plus, Megabus parent company Coach USA has filed for bankruptcy after ridership dropped during the pandemic and failed to recover. And for Baltimore firms, work on the Francis Scott Key Bridge reconstruction is personal.
17-6-2024 • 7 minuten, 54 seconden
Is it time to treat social media like cigarettes?
Surgeon General Dr. Vivek Murthy has called for cigarette-style warning labels aimed at young users of social media platforms, citing social media’s significant contributions to the mental health crisis among adolescents. Plus, a surge in secondhand shopping among consumers, and a look inside the world of gender-affirming vocal coaching.
17-6-2024 • 8 minuten, 38 seconden
French President launches election campaign amid challenge from far right
From the BBC World Service: Emmanuel Macron has kicked off a fortnight of frenetic election campaigning as he gambles everything to stave off a big challenge from the far right. German sportswear giant Adidas is investigating what it calls ‘potential compliance violations in China’ after reports that senior managers at the Chinese branch allegedly received bribes from suppliers. The European Soccer Championship has kicked off and it offers significant branding opportunities — this year, Nike is outspending its rivals, securing 37.5% of the visibility with nine team deals.
17-6-2024 • 8 minuten, 52 seconden
Why the global supply chain cracked under COVID
Four years ago, the pandemic sent the world economy into disarray. Panic buying led to widespread backlogs, with shipping gridlocks so bad you could see them in satellite images. It all revealed a troubling reality: Our global supply chain is incredibly fragile. Where did things go wrong? We discuss. Also, Tesla shareholders voted to restore CEO Elon Musk’s pay package valued at $44.9 billion, so let’s talk about how CEO pay gets determined.
14-6-2024 • 8 minuten, 16 seconden
The financial war between Israel and Palestine
Israel is withholding $35 million in tax revenues from the Palestinian Authority, which provides limited self-governance for the Palestinian people in the West Bank. The move threatens to worsen an already dire financial situation there, even as a war devastates Gaza, the other Palestinian enclave. Plus, big questions linger following the end of a strike at University of California campuses. And Wells Fargo fired some employees for “fake working.”
14-6-2024 • 8 minuten, 8 seconden
Scams target Hajj pilgrimages
From the BBC World Service: Every year, more than a million Muslims from around the globe make a pilgrimage in Mecca. But there’s a lucrative trade in fake permits, and the number of scams has caused raised concerns for Saudi authorities. Then, Thailand scraps a planned $8 tourism fee for visitors arriving by air. And Virgin Australia is set to allow dogs and cats to fly in the main cabin of its planes.
14-6-2024 • 8 minuten, 11 seconden
Smaller races are drawing big campaign bucks
Federal campaigns get much of the spotlight, but state and local races can be as consequential for residents’ lives. Funders know that. Today, we’ll trace some of this year’s campaign spending behind state elections, local elections and ballot initiatives. We’ll also hear about a G7 plan to use seized Russian assets to help Ukraine. Plus, inflation for wholesalers was negative last month. What’s a central bank to do with that?
13-6-2024 • 6 minuten, 51 seconden
The disappearance — and reimagination — of the gay bar
Gay bars are often a fixture of queer nightlife and can help foster a sense of community. Yet across the country, gay bars have shuttered at an alarming pace, down around 45% between 2002 and 2023. But queer nightlife isn’t disappearing — it may just be evolving. We’ll hear more. But first: Interest rates are staying where they are, so where do we go from here?
13-6-2024 • 9 minuten, 11 seconden
Argentinians protest over economic reforms
From the BBC World Service: Demonstrators argued that the measures, which include cutting state spending and watering down workers’ rights, will hurt millions of working Argentinians. Meanwhile, leaders of the G7 are meeting in Italy to discuss increasing economic pressure on Russia in response to its war against Ukraine. And around the world, hundreds of thousands of tons of nuclear waste are piling up in temporary storage, but Finland thinks it has a solution.
13-6-2024 • 7 minuten, 45 seconden
What causes inflation? Economists and the public disagree
The general public doesn’t always see eye-to-eye with economists on why inflation happens or on how to fight it, a new survey finds. We’ll unpack. Plus, a resilient U.S. economy lifts global economic outlook. And later: The Federal Reserve is expected to leave interest rates unchanged today. But let’s revisit the ’70s and ’80s, when the Fed was battling double-digit inflation and didn’t have the luxury of patiently holding interest rates steady.
12-6-2024 • 6 minuten, 45 seconden
Jobs IRL: Georgia bets big on EVs, and Savannahians
It’s been called the largest economic development project in Georgia’s history. And it’s massive — six times the size of Disneyland. When Hyundai’s Metaplant comes online, it will pump out up to 300,000 electric vehicles per year, plus batteries. Jobs at the plant will pay more than the area average, and job training will be free of charge. We’ll hear more. Also on the program: banishing medical debt from credit reports.
12-6-2024 • 6 minuten, 40 seconden
The EU imposes tariffs on Chinese EVs
From the BBC World Service: The European Commission will add tariffs to electric vehicles coming into the European Union from China, and China’s not too happy about it. Then, the World Health Organization (WHO) has blamed major industries — tobacco, ultra-processed foods, fossil fuels and alcohol — for 2.7 million deaths a year in Europe. Also: news on bread in Egypt and spicy ramen noodles in Denmark.
12-6-2024 • 8 minuten, 11 seconden
Supply chain drama … again
We’re heading into another summer with the specter of serious supply chain disruptions. The union representing dockworkers at ports on the East and Gulf Coasts has called off negotiations with shipping companies, because the union says those companies are trying to replace workers with automation. Also: a look at how failing to meet kids’ basic needs hurts their educational outcomes and how bankruptcy has become an “escape hatch” for big corporations.
11-6-2024 • 6 minuten, 32 seconden
Jobs IRL: Looking at jobs on a more atomic level
Today, we’re heading to the Georgia-South Carolina border to hear about a program that pays as they train. It’s at the Savannah River Site, overseen by the Department of Energy, where workers do everything from from dimming down highly toxic plutonium into something no longer weapons-grade to processing spent fuel rods pulled from nuclear reactors. Also on the show: a lawsuit over forever chemicals in the nation’s drinking water.
11-6-2024 • 6 minuten, 40 seconden
Singapore Airlines offers compensation for turbulence flight
From the BBC World Service: Singapore Airlines has offered $10,000 compensation payments to passengers who suffered minor injuries during a flight that hit sudden, extreme turbulence last month. Then, European soccer championships kick off on Friday, and a thriving market has popped up to sell counterfeit replica kits. And later: Nollywood, Nigeria’s movie industry, could be worth as much as $15 billion by 2025, but questions are being raised over safety.
11-6-2024 • 6 minuten, 45 seconden
A big week for the Fed, probably not a big week for interest rates
The Federal Reserve’s Open Market Committee meets tomorrow and Wednesday for its fourth interest rate-setting meeting of the year. We can say with almost total certainty that the Fed will do nothing to those interest rates, and recent news on the job market isn’t likely to change the Fed’s thinking. Then, Reddit is pushing deeper into advertising. And later: how the Tribeca Festival came to be such a moneymaker for New York City.
10-6-2024 • 7 minuten, 22 seconden
Lights! Camera! Tax credits!
You know the Georgia peach logo at the end of shows like “WandaVision” or “The Walking Dead?” The peach means a production was filmed in Georgia, where major tax credits are helping the state grow its film industry. Today, we head to Atlanta to hear about the pipeline for show business gigs there. Plus, Americans are paying down their credit card balances thanks to a strong labor market.
10-6-2024 • 9 minuten, 15 seconden
Macron takes risk with surprise election
From the BBC World Service: France’s President Emmanuel Macron has called snap parliamentary elections in the wake of a big victory for rival Marine Le Pen’s National Rally in the European Parliament vote. We’ll unpack. Then, Malaysia is ending its blanket subsidy for diesel, which means prices will go up by 50%. And Honda is the latest Japanese carmaker to be inspected for safety certification issues.
10-6-2024 • 7 minuten, 12 seconden
Woah, that’s a lot of jobs
We learned this morning that the U.S. economy added 272,000 new jobs in May. That’s a lot more than many economists predicted. On the other hand, the unemployment rate did tick up to 4%. We’ll put those numbers into context. Then, two federal agencies are launching two separate antitrust probes into the giants of the artificial intelligence race. And later: a look at candy maker Bazooka’s recent injection of investment money from major athletes.
7-6-2024 • 9 minuten, 43 seconden
What to expect when you’re expecting a jobs report
How many people got hired and how many people were unemployed last month? We’ll find that out later this morning when the government releases U.S. jobs numbers. Economists are predicting hiring remained steady compared to the month before. We’ll hear why the figures are important to the Federal Reserve, as well as what they hint about AI’s impact on the workforce. Plus, how can cities get out of “a real estate doom loop?”
7-6-2024 • 9 minuten, 36 seconden
Samsung workers go on strike
From the BBC World Service: Workers belonging to the largest union at tech giant Samsung have gone on strike for the first time ever over a pay dispute. Then, McDonald’s no longer has the exclusive right to market chicken Big Mac. Also, and nearly 2 million more teenagers will be eligible to vote in EU elections, and a woman who says she inspired “Baby Reindeer” is suing Netflix for defamation and damages.
7-6-2024 • 9 minuten, 51 seconden
Why 401(k) plans aren’t equitable
A new report out of investment advisor Vanguard finds that more than 40% of employer matches go to the richest 20% of workers — and it’s not just because they have the highest salaries. We’ll discuss the problems with the 401(k) model and hear a potential fix. Plus, St. Louis is grappling with a “real estate doom loop.” How did it get there and how might it get out?
6-6-2024 • 8 minuten, 11 seconden
What Trump, the businessman, can and can’t do as Trump, the felon
It’s been one week since former President Donald Trump was found guilty of 34 felony charges of falsifying business records to influence the 2016 election. So what’s to become of the publicly traded company he heads, Trump Media and Technology Group? Can a convicted felon legally be a principal of a publicly traded company? We discuss. Also on the show; Nvidia stock, congestion pricing and wage growth.
6-6-2024 • 9 minuten, 17 seconden
Russia’s economic contradiction
From the BBC World Service: Vladimir Putin is hosting the International Economic Forum. There’s a bit of a contradiction there: Despite being the most sanctioned country in the world, Russia’s economy is set to grow faster than all advanced economies this year. Also, Gen Z is posing a challenge for alcohol companies. And later, tourism officials in Henan, China, admitted the famous Yuntai Falls use hidden water pipes to boost the flow.
6-6-2024 • 7 minuten, 59 seconden
A new stock exchange may be coming to Dallas
When we do the numbers, we tell you what’s happening on the New York Stock Exchange and the Nasdaq. Now, a couple of Wall Street financial firms are backing an upstart in Texas that wants to challenge the dominance of the two big players in New York. Then, China’s generative AI business has gotten its first infusion of cash from a foreign investor. Plus, does Boston regret not hosting the 2024 Summer Olympics?
5-6-2024 • 8 minuten, 25 seconden
Reimagining what streets and sidewalks can be
At the height of pandemic lockdowns, folks stayed in yet also desperately wanted to get out. Enter the open streets movement, which advocates for roads being temporarily closed off to cars and expanded for pedestrians and public space. Now, advocates in Brooklyn are pushing to make some of those changes more permanent. Plus, manufacturing and construction appear to lose steam, and the Amazon Labor Union will link up with Teamsters.
5-6-2024 • 8 minuten, 6 seconden
India’s prime minister, Narendra Modi, retains power
From the BBC World Service: Following India’s national elections, it might be harder for Modi to push his economic policies through, as his party didn’t win enough seats to have a parliamentary majority. Then, China is looking to compete in generative AI and Saudi Arabia is investing in one of its biggest start-ups. And Poland is voting in European Union elections this weekend, and a major point of contention is Europe’s support for Ukraine.
5-6-2024 • 9 minuten, 44 seconden
Appeals court stops a program to help Black women entrepreneurs
A federal appeals court panel has suspended a competition to award grants to businesses that are majority-owned by Black women. The panel ruled the program, run by Atlanta-based venture capital firm Fearless Fund, is likely discriminatory. We’ll parse the details. Then, Shein is looking to go public in London rather than New York. Why is that? And the price of Forever stamps are about to go up yet again.
4-6-2024 • 8 minuten, 58 seconden
India election: Modi poised for third term
From the BBC World Service: In India’s elections, early signs are pointing to a majority for a right-wing alliance of parties, led by India’s prime minister, Narendra Modi. It won’t be a landslide win, however. What does that mean for policy and the markets? And later in the program: Nigeria’s government says it’s made a new offer to try to bring the country’s general strike to a close.
4-6-2024 • 8 minuten, 24 seconden
Attempts to light a fire under oil prices are fizzling so far
At its recent meeting, the oil cartel OPEC+ agreed to keep its lower production limits in place to try to prop up fuel prices. To the concern of producers and the delight of consumers, crude has been going for less than $80 a barrel since the beginning of May. And that’s being reflected at the pump. Plus, what’s behind GM’s move from the landmark Renaissance Center in Detroit?
4-6-2024 • 8 minuten, 26 seconden
What a Claudia Sheinbaum presidency means for Mexico’s economy
As you’ve likely heard by now, Claudia Sheinbaum won Mexico’s presidential election in a landslide victory and is slated to become the nation’s first female president. But Mexico is facing a major budget deficit, exacerbated by spending on infrastructure and social programs. We’ll discuss what Sheinbaum’s win means for the economy. Plus, we’ll examine the latest in the meme stock craze after the value of GameStop shares soared in premarket trading.
3-6-2024 • 8 minuten, 42 seconden
A Detroit train station is made new again
This week, we’re examining the ways cities are adapting to the future of how we live and work. Some of these changes were sped up by the pandemic, but some are a long-time coming — like evolving tech in the auto industry. In Detroit, an abandoned train station has been brought back to life by the Ford Motor Company as a center for tech innovation. Will the investment pay off? But first: automakers and deep sea mining.
3-6-2024 • 8 minuten, 58 seconden
What will historic election results mean for economies?
From the BBC World Service: Mexico is set to elect its first female president, and South Africa’s African National Congress party has lost its majority after 30 years. So what will that look like for the economies of both countries? Then, a BBC investigation finds evidence about the fate of Ruja Ignatova — the woman on the FBI’s 10 most-wanted list for her alleged participation in a fake crypto scheme worth $4.5 billion.
3-6-2024 • 8 minuten, 45 seconden
Israel and its pre-war economy
Earlier this week, we took a look at the economies of Gaza and the West Bank before and during the current conflict. On today’s show, we’ll examine how Israel’s economy was doing before Oct. 7. (To hear how Israel’s economy has been altered by war, check out this episode.) Plus, inflation is stuck at a rate higher than the Federal Reserve would like to see.
31-5-2024 • 9 minuten, 9 seconden
IRS to make its free direct filing program permanent
Starting next year, more people will be able to file their taxes directly and electronically with the IRS without a middleman. This past tax season, the IRS ran a small trial run in a few states and says it went well, so the agency’s making its free direct file program permanent. It’s expanding eligibility for the program too. Also: the Israeli economy and how it’s changed as a result of war.
31-5-2024 • 9 minuten, 34 seconden
China warns U.S. to stop interfering with Taiwan
From the BBC World Service: The U.S. needs to stop interfering in the affairs of Taiwan — that was the verdict of China’s defense minister, Admiral Dong Jun, who made the comments during a meeting with U.S. Secretary of Defense Lloyd Austin at a security conference in Singapore. Then, parts of India are experiencing an extreme heat wave, and Mexico’s citizens go to the polls on Sunday in a historic election.
31-5-2024 • 8 minuten, 26 seconden
Today is a crucial deadline for Boeing
Thursday marks the end of the 90-day period the FAA gave Boeing to come up with a plan to improve its safety and quality-control practices, something prompted by a fuselage panel blowout on an Alaska Airlines flight in January. Boeing has already announced a number of changes since then. What more do we expect to learn today? Also on the program: the number of wholesale goods sitting on shelves a dramatic decline in foreclosures.
30-5-2024 • 8 minuten, 38 seconden
How can an economy even begin to recover from something like this?
In the months since the outbreak of the war in Gaza, Palestine’s economy has been radically altered. Today, we hear about the conflict’s impact on the West Bank, Palestinian tax revenue and what recovery from such destruction and devastation in Gaza could potentially look like. Plus, the rise in artificial intelligence requires lots of data computing centers to power that AI. And all those data centers use lots of electricity.
30-5-2024 • 9 minuten, 25 seconden
Volcano erupts near Iceland’s capital
From the BBC World Service: Iceland is once again witnessing the raw power of nature as a volcano erupts about 30 miles southwest of Reykjavik, impacting trade.Then, more than two years into the war with Russia, Ukraine is auctioning off the Hotel Ukraina. The proceeds will go toward the war effort. Also: a conversation with one of Latin America’s only female leaders, Laura Chinchilla, the president of Costa Rica.
30-5-2024 • 9 minuten, 36 seconden
Brokerages need to pick up the pace
When you buy a stock, your brokerage has to go out and buy it for you. It sometimes doesn’t happen immediately and can take up to two days. As part of a push to reduce risk in the stock market, a new Securities and Exchange Commission rule says it needs to happen faster. Plus, why consumers are feeling better than expected and how pricey child care is holding back women in the workforce.
29-5-2024 • 9 minuten, 24 seconden
U.S. child care is expensive — and not working for most families
Despite cooling inflation, many Americans still say higher prices make it difficult to make ends meet. That’s especially the case for parents. The cost of child care has far outpaced overall inflation for the past few decades, to the point that it’s affecting the labor force. We discuss. But first: Tensions between Exxon-Mobil and some of its shareholders may well boil over this morning when the company holds its annual shareholder meeting.
29-5-2024 • 8 minuten, 29 seconden
Can a huge mining industry merger make it to the finish line?
From the BBC World Service: Australian mining giant BHP wants to buy rival Anglo American, but it’s had two bids turned down and was recently denied an extension for takeover talks. Then, the union representing Samsung Electronics in South Korea has threatened to go on strike over demands for higher wages. And South Africa heads to the polls and the leading ANC party may lose its parliamentary majority.
29-5-2024 • 9 minuten, 44 seconden
Oil, gas and hurricane season don’t mix
Hurricane season officially begins this week, and forecasters are predicting a record number of storms to barrel through the Atlantic Ocean this year. While that means potential destruction to homes, businesses and infrastructure, one industry is particularly at risk: oil and natural gas. We’ll unpack. Plus, “there is no economic solution for a political problem”: Trinity College professor of economics Ibrahim Shikaki reflects on Gaza’s economy at time of war.
28-5-2024 • 8 minuten, 45 seconden
The state of Palestine’s economy
Beneath the tremendous human suffering wrought by war in Gaza is a harsh economic reality. Today, we’re examining the state of the Palestinian economy before, during and potentially after the war, and will hear more about Palestine’s entrenched dependency on Israel’s economy. But first: The White House is introducing a set of carbon credit standards to help figure out if carbon offsets are achieving what they purport to.
28-5-2024 • 8 minuten, 35 seconden
David Beckham scores Euros deal with AliExpress
From the BBC World Service: Soccer superstar David Beckham has signed a deal to be a global ambassador for AliExpress, an online retail platform owned by Chinese technology giant Alibaba. The announcement comes as the Euros soccer tournament is due to kick off in Germany next month. Plus, billions of dollars are being poured into AI despite lack of uptake, and the FBI is investigating the sale of stolen British Museum goods.
28-5-2024 • 8 minuten, 43 seconden
Tensions between airlines and regulators just in time for Memorial Day travel
Higher fares, crowded airports, cancellations and delays have done little to dampen the appetite for air travel going into the summer months. Airlines say they’ve done a lot to ramp up for the strong demand but are being hampered by a shortage of air traffic controllers. Plus, a pulse check on Houston’s clothing resale market and a new device in Australia to help farmers save livestock during drought.
27-5-2024 • 9 minuten, 20 seconden
When crypto enters campaign finance
In this election cycle, campaigns are looking to get your votes — and political contributions — any way they can. The Donald Trump campaign recently announced it will accept campaign contributions in cryptocurrencies, joining independent candidate Robert F. Kennedy, Jr. But there are nuances and transparency issues that come with such donations. Also on the show: a preview of the economic data-heavy week ahead and an investment in hurricane forecasting.
27-5-2024 • 9 minuten, 45 seconden
Ex-boss appears at inquiry over UK’s “biggest miscarriage of justice”
From the BBC World Service: Paula Vennells was CEO of the government-owned Post Office business from 2012 to 2019, when forensic accountants looked into claims that sub-postmasters had been wrongly prosecuted for errors caused by software. We hear some takeaways from her testimony. Then, the leaders of China, South Korea and Japan have vowed to speed up negotiations to reach a free trade deal. Also: What would persuade more of us to take up electric vehicles?
27-5-2024 • 8 minuten, 45 seconden
Will the Ticketmaster antitrust lawsuit make it easier for people to get tickets?
The Justice Department is suing Live Nation, the parent company of Ticketmaster, saying that it violated antitrust law. Live Nation controls at least 80% of box office sales at major concert venues, and owns or controls more than 60% of large amphitheaters in the U.S. Yet we may not know the upshot of the lawsuit for consumers for quite some time. Also: a look inside the wide world of indie video games.
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24-5-2024 • 8 minuten, 55 seconden
A major step toward paying college athletes
The NCAA, the governing body for college sports, and the five biggest athletic conferences have agreed to a landmark $2.8 billion settlement of a class-action suit. If approved by a judge, it’ll means that schools would be allowed to share revenues with student athletes going forward. Then, we’ll have a conversation about capitalism and activism in college athletics. And later: Will you be “quiet vacationing” this holiday weekend?
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24-5-2024 • 9 minuten, 33 seconden
Google’s laying a subsea fiber-optic cable connecting Africa and Australia
From the BBC World Service: Google is expanding its network infrastructure, with an aim of enhancing internet connectivity and competing in the cloud computing market. Then, days after President Biden imposed higher tariffs on EVs from China, Elon Musk says he doesn’t support them — contradicting a warning he made back in January that Chinese carmakers would “demolish” global competitors if there were no trade barriers.
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24-5-2024 • 8 minuten, 26 seconden
Unfavorable views of a (generally) favorable economy
A recent poll conducted for the Guardian newspaper asked people how they felt about the economy. It finds nearly three in five Americans (wrongly) believe the U.S. is in a recession. About half think the stock market is down for the year. (It’s not.) What’s behind the disconnect? Plus, tariffs designed to create higher-paying jobs stateside may fail to do that. And we’ll hear the history behind the Ticketmaster antitrust lawsuit.
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23-5-2024 • 9 minuten, 7 seconden
Meet the passive investing doomsayers
Writer Andrew Lipstein embarked on a quest to freak himself out about passive investments: Things like buying index funds, for instance all the companies in the S&P 500, setting it and forgetting it. Lipstein spent time with a professional investor who argues index funds play a dangerous role in the market that may not end well. We hear that story. But first, chipmaker Nvidia reports a seven-fold increase in profits.
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23-5-2024 • 8 minuten, 51 seconden
Economy takes center stage ahead of U.K. election
From the BBC World Service: British Prime Minister Rishi Sunak and opposition leader Keir Starmer are on the campaign trail after Sunak called a surprise summer election. We set the backdrop for this upcoming election, including an interrogation of the freshest economic figures and a look at the economic mood among British consumers. Also on the show: What do changing music tastes mean for guitar companies?
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23-5-2024 • 9 minuten, 59 seconden
Texas’ tech resilience
The high tech industry has been grappling with a downturn in recent years. But a new report shows that the picture for the tech sector in Texas is a bit sunnier than in other parts of the country. Why is that? Then, Lowe’s and Target feel the effects of a pinched consumer, and sugar production — once Cuba’s most important and profitable trade — is nearing collapse.
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22-5-2024 • 9 minuten, 50 seconden
Inflation is getting better. That doesn’t mean it’s good.
Inflation may be cooling, but it certainly isn’t cold. Americans are still getting burned by rising prices. That’s one conclusion from a new Federal Reserve survey, which notes that parents in particular are struggling. Then, one report shows just how many homes are overvalued, especially in the South. Plus, we’ll hear how the Accion Digital Transformation Fund is trying to help people with no bank accounts get one.
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22-5-2024 • 9 minuten, 51 seconden
Cuba’s ongoing economic crisis
From the BBC World Service: Amid worsening inflation, a scarcity of basic goods and a decadeslong U.S. economic embargo, Cubans are enduring some of their bleakest economic times since the Cold War. We hear from the country’s sugar plantations, where production has hit an all-time low. Plus, a look at why a medical strike in Mozambique is having a deadly impact and how extreme heat is affecting India’s workers.
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22-5-2024 • 9 minuten, 36 seconden
What two companies can tell us about two corners of the economy
On Wednesday, we get glimpses of two very different ends of the economy: Both retailer Target and AI chipmaker Nvidia report earnings. One lives in the world of consumers facing high interest rates, while the other occupies the sphere of cutting edge technology. What can we anticipate? Then, caregiving is a major factor behind the rise of multigenerational households in the U.S. We’ll hear from one family who came to live together.
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21-5-2024 • 9 minuten, 37 seconden
In Houston, storm damage recovery and insurance hurdles
Houston residents are once again rebuilding after a severe windstorm delivered damage to cars, businesses and homes last week. Insurers are just beginning to assess the extent of the damage — at a time when insurance is getting pricier and harder to find. Then, the FDIC’s chair says he will step down once a successor is confirmed following investigations into toxic culture at the agency. Plus, can legislation save local news?
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21-5-2024 • 9 minuten, 31 seconden
Lawmakers play catch-up with artificial intelligence
From the BBC World Service: Artificial intelligence has been argued to be the tech of our time, and lawmakers have been grappling with how to regulate it. Today, the European Union approved what it says is the first AI law of its kind in the world. Plus, we hear how Japanese authorities are clamping down on tiresome tourists. And why has the U.S. takeover of a Premier League soccer club run into overtime?
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21-5-2024 • 10 minuten, 29 seconden
Red Lobster’s woes go beyond just bottomless shrimp
The popular Red Lobster restaurant seafood chain has officially filed for bankruptcy protection. The eatery has struggled with high labor costs, expensive leases and a popular promotion that ate into profits. Today, we’ll trace back Red Lobster’s struggles. Then, the final results of major New York auction house sales show the art world is struggling to overcome a recession. And later: What’s it like living in a multigenerational residential community?
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20-5-2024 • 10 minuten, 11 seconden
The latest in the tense back-and-forth between the U.S. and China
The Chinese government is putting sanctions on three U.S. defense companies. The move came as Taiwan swore in its new president, who called on China to stop trying to intimidate the country, and includes the latest economic restrictions between the U.S. and China as both countries move to protect domestic industries. Plus, health care providers continue to reel from a February cyberattack, and analysts worry about the adverse effects of Google’s AI-powered search results.
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20-5-2024 • 10 minuten, 10 seconden
Taiwan has a new president. What will it mean for the economy?
From the BBC World Service: Taiwan’s new leader, William Lai, has called for China to stop threatening the island, with tensions between the two keenly watched from abroad. But the economy remains a major issue for Taiwan residents. We’ll hear more. Also on the program: Brazil counts the costs of major, devastating flooding activity. Then, people in the Italian city of Latina talk about the impact of inflation and immigration.
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20-5-2024 • 8 minuten, 53 seconden
Glitz, glamor and economics at the 2024 upfronts
This week, media giants have been gathering in New York City for the upfronts, where networks and streaming platforms try to court ad buyers by previewing shows for the seasons ahead. We’ll take the pulse of ad spending as streaming continues to outshine traditional broadcast television. And we’ll also hear about China’s property sector prop-up and priorities for the Consumer Financial Protection Bureau now that its future is no longer in jeopardy.
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17-5-2024 • 9 minuten, 30 seconden
What pro-Palestinian campus protests look like across Europe
Pro-Palestinian protests have disrupted campus life at colleges and universities in the United States in response to Israel’s intense bombardments on Gaza following the Oct. 7 Hamas attack. Similar demonstrations have taken place in Europe too, where protesters are demanding their schools divest from Israeli-linked companies. Plus, Americans are going into debt to pay for groceries, and results from an United Auto Workers’ union vote at an Alabama plant are expected today.
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17-5-2024 • 9 minuten, 11 seconden
China’s government props up property sector
From the BBC World Service: The Chinese government says it will buy up millions of unsold homes across the country in a major intervention in the property market. The move come as the sector’s continuing slump threatens the whole economy. Also on today’s program: Students across Europe are demanding their universities cut financial and institutional ties with Israel, and Sir Paul McCartney becomes the first billionaire British musician.
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17-5-2024 • 8 minuten, 45 seconden
There’s a good chance your bank is funding fossil fuels
Since the Paris Climate Agreement, banks together have funneled trillion into fossil fuel companies, according to the 15th Banking on Climate Chaos report. Last year, JPMorgan Chase was the No. 1 fossil fuel financier in the world. Some of the other top investors? Citibank, Wells Fargo and Bank of America. We’ll discuss. Then, the Federal Trade Commission is trying to crack down on fabricated reviews. Problem is, fake reviews are a global industry.
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16-5-2024 • 9 minuten, 35 seconden
When inflation goes down, stocks go up
Stock traders on Wall Street were feeling bullish on Wednesday. All three major stock indexes in the U.S. rose to record highs on the back of yesterday’s inflation report. The consumer price index report, which showed inflation cooling, made traders optimistic about the prospect of an interest rate cut. Then, we’ll delve into the staggering costs of inequities in mental health care and hear how Americans are feeling about tariffs on Chinese goods.
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16-5-2024 • 9 minuten, 34 seconden
Putin and Xi’s display of unity
From the BBC World Service: China’s leader Xi Jinping rolled out the red carpet for Russian President Vladimir Putin. With both countries facing trading restrictions, more business is being done between the two. We’ll discuss. Also on the program: Can you really trust online consumer reviews? Regulators want to bring in new rules to tackle fakes.
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16-5-2024 • 9 minuten, 13 seconden
Prices went up in April, but inflation still cooled
The consumer price index is up 3.4% in a year, and — setting aside volatile food and fuels costs — the CPI increase over 12 months was the lowest in three years. For people fervently hoping interest rates will go down sooner rather than later, this is good news. But can there be too much slowing? We dig in. Plus, we’ll hear how the economy of Necoclí, Colombia, has shifted to serve migrants stopping there.
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15-5-2024 • 9 minuten, 26 seconden
Why an important inflation measure leaves out borrowing costs
The consumer price index comes out later this morning. It’s designed to measure inflation but ignores one of the biggest categories of price increases hitting consumers: the cost of borrowing money. We’ll unpack why that’s the case. Also, a bipartisan group of Senators wants the federal government to spend $30 billion to address artificial intelligence development. Then, school districts face tough choices as pandemic funding ends
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15-5-2024 • 8 minuten, 42 seconden
How migration changed the economy of a Colombian town
From the BBC World Service: Roughly 500,000 migrants traveled through dense jungles on the Colombia-Panama border last year, according to the United Nations. We’ll hear how businesses in a beach town have shifted their focus to cater to the new arrivals. Plus, China vowed to retaliate against President Biden’s significant tariffs on some Chinese imports. Meanwhile, Russia’s President Putin spoke of his country’s close ties to China ahead of a visit to Beijing.
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15-5-2024 • 10 minuten, 31 seconden
Yet another GameStop stock rally
Shares of video game retailer GameStop skyrocketed nearly 75% yesterday and are poised to shoot even higher today. That comes after the trader who championed the last run-up in GameStop’s share value posted on social media for the first time since 2021. We’ll hear the latest. Also on the program: regulator concerns over election bets and a dip in medical student residency applications in states with abortion bans.
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14-5-2024 • 8 minuten, 55 seconden
When patients aren’t taken to court over medical debts
At Rochester Regional Health in New York, aggressive collection activities on medical debts are barred. Patients are not sued, their wages are not garnished, and unpaid bills won’t sink their credit scores. We’ll hear about the health system’s shift to the uncommon model and learn more about its impact. But first, the Biden administration is announcing increased tariffs on imports from China. And later, how can the WNBA sustain its surging popularity?
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14-5-2024 • 8 minuten, 50 seconden
The fight over Georgia’s controversial “foreign agents” bill
From the BBC World Service: Today, we examine the controversial law proposed by the Eastern European nation of Georgia, where organizations receiving more than 20% of their funding from overseas would be classified as ‘”foreign agents.” This is seen as a fork in the road for the country: Does its future lie with Europe or Russia? Then, rapid growth in the Indian tech hub of Bengaluru has put pressure on crucial water resources.
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14-5-2024 • 9 minuten, 23 seconden
The incredible shrinking stock market
This year, the Dow and S&P have repeatedly hit record highs. But even as the value of the stock market grows, the number of firms traded on the market is shrinking, and has been since the mid-1990s. And when fewer companies are public, it limits our understanding of what’s happening in the economy. Plus, a preview of wholesale inflation and retail sales, and a closer look at the impact of RTO mandates.
13-5-2024 • 8 minuten, 38 seconden
The UAW heads South
Following a big union win last month at a VW plant in Tennessee, the United Auto Workers face a new test in the South: Workers at a Mercedes-Benz assembly-and-battery complex in Alabama begin voting on whether to join the UAW this week. Can the labor organizing momentum be sustained? Also: why a cap on credit card late fees is getting delayed and how to go into debt without anyone noticing.
13-5-2024 • 8 minuten, 38 seconden
South Korea is chipping in a lot to help its semiconductor sector
From the BBC World Service: With global demand high for the most advanced tech chips, the South Korean government plans to boost its sector with more than $7 billion investment. We’ll discuss where the funding is likely to be funneled and paint a picture of the U.S.-China tensions over chips that it butts up against. Also, the Russian army is hiring Cuban nationals for its war efforts against Ukraine.
13-5-2024 • 9 minuten
Is a Texas bullet train a magic bullet for rail?
To get between Dallas and Houston, it’s an bogged down 240-mile roadtrip that can sometimes take five hours. Amtrak wants a bullet train to get the job done in 90 minutes and says it could be built within a decade — if federal funding comes through. Plus, Transportation Secretary Pete Buttigieg on who will pay to rebuild after the Baltimore bridge collapse and a preview of next week’s retail sales figures.
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10-5-2024 • 9 minuten, 49 seconden
What are airline points worth? Transportation Secretary Buttigieg wants to know.
If you save up your miles or credit card points for vacations, you may be treating them a bit like savings. But unlike money in your savings account, a company can change the value of those points. Today, Transportation Secretary Pete Buttigieg joins Marketplace’s David Brancaccio to make the case for greater transparency in airline and credit card rewards programs. Also: the San Francisco Fed President on the future of interest rates.
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10-5-2024 • 9 minuten, 33 seconden
U.S. set to bring in China EV tariffs
From the BBC World Service: Shares in major Chinese electric carmakers have fallen following reports that the U.S. is preparing to bring additional tariffs against Chinese companies, specifically aimed at EVs and other sectors. Then, rat remains have been found in sliced bread in Japan, triggering recalls. And the Eurovision Song Contest, watched by 200,000,000 people worldwide, has faced controversy over Israel’s inclusion in the show.
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10-5-2024 • 7 minuten, 44 seconden
How weight loss drugs are transforming the weight loss industry
A new class of weight loss drugs known as GLP-1s, like Wegovy and Zepbound, helped grow the weight loss industry to nearly $90 billion last year. Now, weight loss companies, apps and fitness companies are adapting their to programs include the drugs, as well. Also, allegations of serious fraud threaten a big U.S.-U.K. soccer deal, and China’s latest trade data showed a return to growth in April.
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9-5-2024 • 9 minuten, 50 seconden
Gen Z is starting out with more debt
A recent TransUnion report shows borrowers aged 22 to 24 are carrying an average of roughly $2,800 in credit card debt — adjusted for inflation, that’s more than millennials in the same age range a decade ago. Then, an ad for Apple’s latest iPad has gone viral … for the wrong reasons. And what might America’s next economy look like? We discuss what achieving an economic framework that works for everyone might entail.
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9-5-2024 • 9 minuten, 50 seconden
How frozen Russian assets could fund Ukraine’s war effort
From the BBC World Service: The European Union plans to use profits from frozen Russian assets to fund arms to Ukraine, which could be worth around $3 billion a year. Plus, the head of public relations at China’s biggest search engine, Baidu, apologized after glorifying a work-till-you-drop culture. And as China’s President Xi Jinping concludes his European tour in Hungary, we look at the country’s growing EV battery industry.
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9-5-2024 • 8 minuten, 43 seconden
A “good ol’ boys” culture at the FDIC
A new report from an independent law firm says that big changes are needed at the Federal Deposit Insurance Corporation to address widespread allegations of sexual harassment and discrimination and that FDIC’s management’s response has been “insufficient.” We’ll discuss. Plus, there was a big slowdown of consumer credit growth in March. And can the “Las Vegas of the East” move away from gambling revenue to entertainment?
8-5-2024 • 7 minuten, 59 seconden
A (Bud) light at the end of the tunnel?
Anheuser-Busch, maker of Bud Light, reported earnings this morning. The company has been slowly recovering since last year, when Bud Light became the target of a conservative boycott over a 45-second promotional video posted by a transgender influencer. We’ll delve into the backlash and get a taste of the light beer market. Also on the show: FTX investors might get their money back, and the Biden administration overhauls requirements for retirement planners.
8-5-2024 • 7 minuten, 53 seconden
China’s close relationship with Serbia
From the BBC World Service: Chinese president Xi Jinping is in Serbia aiming to deepen political and economic ties. China has invested heavily in the Eastern European country as part of its Belt and Road Initiative. Then, we take a closer look at how devastating rains have hit Kenya, where thousands have been displaced and crops ruined. We also head to Macau, where Chinese authorities want to see the territory diversify away from gambling.
8-5-2024 • 9 minuten, 43 seconden
How political fundraisers increase contributions without going over the legal limit
How “joint fundraising committees” bring in hefty political donations without technically running afoul of contribution limits; plus, checking in on the Biden administration’s multi-billion-dollar plan to remove lead pipes — and improve drinking water safety — across the country.
7-5-2024 • 8 minuten, 9 seconden
The economic — and personal — impacts of paid sick leave
In the absence of federal paid sick leave, some states work to fill the gap. Plus, a new report on the looming Social Security and Medicare budget shortfalls, and what to expect from Reddit’s first earnings report since its March IPO.
7-5-2024 • 7 minuten, 40 seconden
Milei defends radical austerity plan
From the BBC World Service: Argentina’s president has cut public sector jobs, reduced energy and transport subsidies and devalued the country’s currency in the five months since he became leader — but Javier Milei denies ordinary Argentines are paying for the stringent measures. Also: What does a butter-free croissant say about France’s changing food and agriculture industries?
7-5-2024 • 8 minuten, 14 seconden
Biden administration announces $100 million in initiatives to ease the transition to EVs
The Biden administration announces new initiatives to ease the transition to EVs — particularly in swing states like Michigan. Plus, Sweden sees growing economic inequality, and markets guess at the timeline for interest rate cuts.
6-5-2024 • 8 minuten, 54 seconden
Retirement anxiety is on the rise
A growing number of Americans are worried they won’t have enough money to live on once they reach retirement. Plus, a $79 million fine for selling “phantom flights” at Qantas, succession plans at Berkshire Hathaway, new health care access for DACA recipients, and Boeing preps for a spacecraft launch.
6-5-2024 • 8 minuten, 57 seconden
President Xi visits Europe
From the BBC World Service: China’s President Xi Jinping visits Europe for the first time in five years, and trade tensions look likely to be high on the agenda. Has Sweden become a paradise for the superrich? It’s had a reputation for championing social equality, but there’s been a rapid boom in the number of Swedish multimillionaires and billionaires in recent years. The actor Will Ferrell is the latest Hollywood megastar to invest in English soccer club Leeds United — following in the footsteps of Russell Crowe.
6-5-2024 • 8 minuten, 35 seconden
Companies are hiring, just not like mad
The bond market is surging after news that 175,000 people were in payrolls in April versus March. That’s less than expected and 44% lower than a month earlier. And it’s the sort of result that those anxious about elevated interest rates want to see. We’ll discuss. Also on the program: Nonprofit hospitals say legislative efforts requiring them to provide more free care could actually hurt the people they’re intended to help.
3-5-2024 • 7 minuten, 18 seconden
The truth about Truth Social
It’s been just over a month since Trump Media & Technology Group — ticker symbol DJT — started trading on the Nasdaq. The initial public offering has come with lawsuits, wild swings in the share price and potential windfalls for former President Donald Trump. We unpack it all. Plus, Apple reported lackluster results on Thursday, and we’ll take the pulse of the comic book sector ahead of Free Comic Book Day.
3-5-2024 • 7 minuten, 33 seconden
Turkey suspends trade with Israel
From the BBC World Service: Turkey says trade with Israel — worth around $7 billion a year — will halt until a permanent ceasefire is secured in Gaza and sufficient humanitarian aid is allowed in. Plus, the Japanese government appears to have spent $35 billion propping up the yen this week, according to data released by the Bank of Japan. However, the weak yen is boosting tourism, and some people aren’t happy about that.
3-5-2024 • 7 minuten, 14 seconden
Online scammers are upping up their game
A new report from FBI’s Internet Crime Complaint Center shows people 60 and older lost $3.4 billion to fraudsters and scammers last year. That’s up 11% in a year, with an average loss of $34,000 per victim. On today’s show, we’ll hear the latest in elder financial exploitation. We’ll also learn more about Tesla’s surprising move to scrap its EV charging team. Plus, a rate hike could still be on the table.
2-5-2024 • 7 minuten, 55 seconden
Federal subsidies aim to provide a boost to sustainable jet fuel
The Biden administration has issued guidelines for a tax credit aimed at promoting greener aviation fuel. Currently, sustainable aviation fuel accounts for a fraction of all jet fuel and costs more than twice as much as fossil fuels. Will the tax subsidy work as intended? Plus, interest rates are a good news, bad news story. And we’ll take a closer look at the changing economics of sports broadcasting.Federal subsidies aim to provide a boost to sustainable jet fuel
2-5-2024 • 8 minuten, 53 seconden
Is it too late to prevent AI from interfering in global elections?
From the BBC World Service: The European Union is looking into how Meta handles political content. Now, one of Britain’s top computer scientists has warned that it’s too late to prevent artificial intelligence from being misused to influence voters. Plus, cocoa prices have plunged in the last few weeks. And the electric vehicle industry is struggling right now, but the mood’s been optimistic at this week’s Beijing Auto Show.
2-5-2024 • 9 minuten, 10 seconden
International pop stars are finally recognizing the world’s most populous country
Hampered by insufficient infrastructure, famous musicians would often leave India out of their world tours. But the country’s massive, young population makes it a potentially lucrative market, and more musicians are opting to stop and perform there. Thanks to increased investment, it seems India’s live music industry is primed to take off. Also on the program: betting on skee ball and a look at fresh payroll data.
1-5-2024 • 7 minuten, 13 seconden
A story about racism, DEI and the economics of college athletics
A new Alabama law that restricts diversity, equity and inclusion curriculum in public institutions goes into effect Oct. 1. In response, Birmingham Mayor Randall Woodfin is calling on Black athletes to boycott playing sports at Alabama colleges and universities in hopes that the potential economic loss will lead to the law’s repeal. We’ll examine. Plus, the Federal Trade Commission is challenging patents on 20 brand-name drugs.
1-5-2024 • 7 minuten, 52 seconden
EU scrutinizes Meta ahead of elections
From the BBC World Service: The European Commission is investigating how Meta handles political content, including a suspected Russian influence campaign. That issue is particularly important with so many elections coming up around the world. Also, WhatsApp is banned in some countries, yet WhatsApp’s boss says millions are using workarounds to access it. Then, what has stopped many international music artists from touring in India, and why are things changing?
1-5-2024 • 7 minuten, 52 seconden
What do future business leaders learn about climate change?
Corporations play a major role in emitting climate-altering greenhouse gases, and businesses need to be fully on board if the world is going to avoid the worst of the climate crisis. But lessons on climate change’s effects on business aren’t always taught in MBA programs. Now, a group of educators is trying to change that. Plus: a major FCC fine for cell companies and a preview of the Federal Reserve’s meeting this week.
30-4-2024 • 9 minuten, 38 seconden
The long history of student divestment protests
Students nationwide are pushing colleges and universities to sell off investments in companies they say profit from the war in Gaza. We’ll chart the history of calls for divestment, including student protests more than 30 years ago demanding colleges cut ties with any company that did business in apartheid South Africa. Also, new federal regulation is expected to save hundreds of lives each year, and inflation indexes aren’t one size fits all.
30-4-2024 • 7 minuten, 56 seconden
China’s EV price war hits BYD profits
From the BBC World Service: Tesla’s China-based rival BYD became the world’s best-selling electric vehicle maker in January, but has since seen profits drop as slower demand and more competition take a bite. We’ll hear more. Also on this morning’s program: How will England’s Premier League soccer competition — home to giants like Manchester United, Liverpool and Chelsea — change if it adopts a proposed squad spending cap?
30-4-2024 • 7 minuten, 33 seconden
Consumers, jobs and interest rates — oh my!
This week, we’re getting important insights on how the U.S. economy is doing. We’ll receive reports on consumer confidence, the unemployment rate and how many jobs are out there. And in the middle of it all, the Federal Reserve is meeting to discuss what to do with interest rates. We’ll sort through it all. Plus, musicians love the sounds of nature. Now, those sounds can help support environmental causes.
29-4-2024 • 7 minuten, 13 seconden
A copper gold rush courtesy of the energy transition
A copper mining company recently turned down a $39 billion takeover bid because it was too low. Right now, the price of copper is near a 2-year high and headed higher. And the metal is critical in many clean energy technologies. Plus, the Federal Reserve is expected to hold interest rates steady at its latest policy meetings. When might that change? We also examine the fallout of a strong U.S. dollar.
29-4-2024 • 7 minuten, 31 seconden
What’s behind Elon Musk’s surprise China trip?
From the BBC World Service: Tesla CEO Elon Musk paid a visit to China, where he’s been trying to clear regulatory hurdles that have hindered the company’s self-driving technology roll-out there. Then, Sweden’s police have been inundated with reports from people who have been swindled out of their gold belongings. And later, musicians who sample nature can now split their profits with environmental causes through a new United Nations-backed project.
29-4-2024 • 9 minuten, 51 seconden
Welcome back, net neutrality
The Federal Communications Commission has repealed a Trump-era ruling that ended net neutrality — basically the idea that internet providers can’t favor some sites or apps over others. We dig into why it’s such a hot topic and how the new decision might affect your internet access. Plus, the inflation outlook with Chris Low from FHN Financial.
26-4-2024 • 7 minuten, 22 seconden
One thing we can all agree on? Housing is too expensive
Consumer sentiment reports reflect a universal truth: Lower income households feel the punch of inflation worse than wealthy households. But affordable housing — and lack thereof — is one issue that brings Americans together, across the wealth divide. Plus, Christopher Bass tells us what it’s like to be a high school basketball coach with a massive social media following. At just 5 years old, he’s got big hoop dreams.
26-4-2024 • 7 minuten, 11 seconden
Antony Blinken meets with China’s President Xi
From the BBC World Service: U.S. Secretary of State Antony Blinken met with Chinese President Xi Jinping on Friday — we’ll get into what they spoke about. Plus, Chinese tech company ByteDance says it has no intention of selling TikTok to comply with a new U.S. law. And back in January, Japan Airlines announced its first female president and chief executive. We’ll hear from a former flight attendant who says Japan has a ways to go when it comes to workplace gender equality.
26-4-2024 • 7 minuten, 7 seconden
What’s up with the weak GDP growth?
The U.S. economy grew by just 1.6% last quarter — falling very short of expectations. At the same time, inflation was up, according to the latest PCE. What’s the Federal Reserve’s next move? Plus, small businesses could see big productivity gains by collaborating with other firms, a McKinsey report shows.
25-4-2024 • 7 minuten, 23 seconden
EPA aims to quash coal emissions once and for all
New emissions standards for fossil fuel power plants would require them to eliminate 90% of the carbon dioxide they emit, or close. But the Supreme Court could strike down the regulations before they go into effect. Plus, New Jersey announces an incentive for residents to sue New York and Congress weighs a new path for funding medical research.
25-4-2024 • 7 minuten, 50 seconden
Can a tax save Venice from mass tourism?
From the BBC World Service: Venice, Italy, has become the first city in the world to charge day trippers. But is $5.30 enough to keep a lid on tourist numbers? And, we’ll take a look at the $300 billion ‘modest fashion’ industry as thousands of models, designers and buyers arrive in Istanbul for Modest Fashion Week.
25-4-2024 • 7 minuten, 7 seconden
Manufacturing comes out of its own private recession
Call it a manufacturing resurrection: Orders for durable goods — big-ticket items from washing machines to airplanes — rose 2.6% in March. It’s a sign that manufacturing is coming back online and the economy is getting get back to where the Fed wants it to be. Plus, it’s earnings season. How are companies doing so far? Then, we head to the Spanish city of Algeciras, where one out of four people is unemployed.
24-4-2024 • 7 minuten, 37 seconden
Millions of Americans could get a pay bump
The Joe Biden administration has announced a pair of new measures to strengthen worker protections. It’s widening eligibility for overtime, bringing in millions of more employees, and is looking to largely ban on noncompete agreements, which bar workers from joining competing companies. We’ll hear more. We’ll also hear more about what all is included in the $95 billion foreign aid package and how internet providers have been lobbying against lower broadband prices.
24-4-2024 • 8 minuten, 51 seconden
Blinken’s thorny China trip
From the BBC World Service: U.S. Secretary of State Antony Blinken has arrived in China with a long list of global issues on his agenda: There’s conflict in the Middle East, America’s support for Taiwan and the way China supplies crucial technology to Russia’s war effort in Ukraine. Also: key issues for women voting in India’s general election and southern Spain’s struggle with the highest unemployment rate in Europe.
24-4-2024 • 9 minuten, 51 seconden
Stakes are high for Tesla’s quarterly results
EV maker Tesla will release quarterly results after markets close on Tuesday, but the company has been struggling so far this year. Beset by stiff global competition, Tesla has been cutting prices and laying off workers. We’ll set the stage for the big financial release. Plus, high mortgage rates bring about a real estate quandary. And as part of this month’s Econ Extra Credit, we examine how baseball’s Negro Leagues navigated the Great Depression.
23-4-2024 • 10 minuten, 6 seconden
A venti flat white with an extra shot of labor relations, please
The Supreme Court is scheduled to hear oral arguments today on whether the National Labor Relations Board has to meet a higher burden of proof when intervening on behalf of workers trying to unionize. Starbucks is challenging some of the agency’s powers. We’ll hear more about the case in question. Plus, El Salvador’s unsafe reputation is transforming, but the country is heavily in debt. What are the economic realities. everyday Salvadorans?
23-4-2024 • 8 minuten, 39 seconden
U.K. approves delayed Rwanda migrant plan
From the BBC World Service: The British government’s policy of sending migrants to the African nation of Rwanda is set to become law, but the United Nations and Europe’s highest court have urged the U.K. to drop the proposals. Then, two years since a state of emergency was introduced in El Salvador to try to reduce crime, the Central American country is safer but its economy is still struggling.
23-4-2024 • 8 minuten, 13 seconden
Homelessness by law and by economics
On Monday, the Supreme Court is set to hear oral arguments in a case that could determine whether cities can fine or arrest people in homeless encampments. The case comes at a time when higher interest rates and rising insurance costs are making it more expensive to build low-income housing — especially in California. Also: the macroeconomic vibe for the week ahead and Ireland’s big bet on high-tech media production.
22-4-2024 • 8 minuten, 6 seconden
A landmark moment for the labor movement
For the first time, autoworkers at a foreign-owned plant in a Southern state have voted to unionize. The United Auto Workers union recently saw a landslide victory at a Volkswagen plant in Chattanooga, Tennessee — a win that comes years of failed unionization efforts in the South. We’ll discuss what comes next. Then, we’ll hear the role janitors from El Salvador have played in local labor movements in Houston.
22-4-2024 • 8 minuten, 8 seconden
Relief and hope in Ukraine following U.S. aid vote
From the BBC World Service: We hear from Ukrainians after a military aid package gets approval in the U.S. House of Representatives. Then, Ecuadorians vote to tighten security in its fight against gang violence, as the government fears that recent violence could damage the country’s tourism. Plus, the hit TV series “Game of Thrones” was filmed in Northern Ireland. We’ll explore the big bet on film, TV and gaming there.
22-4-2024 • 8 minuten, 27 seconden
Raising rates is not completely off the table
The message from several officials at the Federal Reserve this week? Don’t expect an interest rate cut anytime soon. And we’ll discuss why there’s a chance that “higher for longer” may not be the end of it. Plus, hospitality businesses in New York City say they’re struggling to fill open jobs. New migrants arriving in the city could help solve that problem — if they get authorized to work.
19-4-2024 • 6 minuten, 53 seconden
The great bitcoin halving
Bitcoin is trading well above where it did in 2023. Friday or Saturday, something called the “bitcoin halving” is supposed to happen — an event that occurs roughly every four years where the number of new bitcoins that come into circulation drops in half. And it’s a big deal for the whole philosophical premise of bitcoin. We’ll unpack. Also on the show: explaining a big filing day for PACs and understanding China’s “Great Firewall.”
19-4-2024 • 7 minuten, 53 seconden
Can fast-track work visas fix New York’s hospitality sector?
From the BBC World Service: Hospitality businesses in New York City have said quicker work permits for arriving migrants could be key to filling vacancies in the sector – but city authorities are struggling to cope with the number of people arriving. Also: Palau was praised for its marine sanctuary that banned commercial fishing. Now, the government wants to allow more maritime industry to boost the economy.
19-4-2024 • 8 minuten, 53 seconden
Most workers now entitled to unpaid time for pregnancy care
This week, the Equal Employment Opportunity Commission finalized regulations to ensure that most employees around the country are entitled to unpaid time off and other accommodations for a range of pregnancy-related medical needs, from nausea and gestational diabetes to abortion care. We’ll learn more. Also on today’s show: a drumbeat of “higher for longer” from Fed officials, the Biden administration’s show of support for American steel, and gaming furniture that’s all grown up.
18-4-2024 • 10 minuten, 11 seconden
Reflections on Baltimore’s bridge collapse from the workers who built it
When the Francis Scott Key Bridge in Baltimore was built in the ’70s, it was a chance for workers to prove themselves on a massive construction project. Following its collapse, those workers look back on what many considered to be a monument to their work — and what happens when that monument is gone. Also: foreign aid could be bundled with a forced sale of TikTok, and European Union leaders agree to tighten sanctions on Iran.
18-4-2024 • 7 minuten, 53 seconden
TikTok under EU scrutiny — again
From the BBC World Service: The European Commission has given TikTok 24 hours to provide more information on its new app, which pays users to watch videos, as officials raise concerns about potential harms. Then, we’ll hear more about the European Union’s efforts to sanction Iran following its attack on Israel. And later on the show: Why is the Pacific Island of Palau’s tourism sector struggling to recover from the pandemic?
18-4-2024 • 7 minuten, 36 seconden
A pivotal moment for the union push in Southern states
The United Auto Workers union is trying to organize foreign vehicle factories in the South, and today, workers at a Volkswagen factory in Chattanooga, Tennessee, begin voting on whether to join the UAW. We’ll hear what’s at stake. Then, we’ll take a look at why TGI Friday’s is faltering while Texas Roadhouse thrives. Plus, a look at how a Detroit deconstruction company provides jobs and promotes sustainability.
17-4-2024 • 7 minuten, 49 seconden
The Black businesses behind some of baseball’s best players
For this month’s Econ Extra Credit, we’re watching “The League,” which chronicles the history of baseball’s Negro Leagues, established several decades before the sport was integrated. The Leagues gave rise to many Black businesses and entrepreneurs. Today, we have a conversation with Larry Lester, co-founder of the Negro Leagues Baseball Museum in Kansas City, Missouri. Also on the program: Aircraft-maker Boeing faces scrutiny over safety practices during two Senate hearings.
17-4-2024 • 7 minuten, 34 seconden
IMF: Russia to beat other advanced economies
From the BBC World Service: Despite extensive sanctions, the International Monetary Fund has forecast Russia’s economy will grow more than any other rich nation this year. Also: The small Pacific Island nation of Palau has warned delays to U.S. funding could open the door to China’s influence in the region.
17-4-2024 • 8 minuten, 10 seconden
Why do we see the online ads we see? Hard to say.
The European Union’s Digital Services Act requires big internet platforms to create searchable public libraries of their ads, allowing researchers to see who an ad is targeting and reaching and what it’s urging its audience to do. But a new assessment finds that those libraries are lacking. We dig in. Plus, China’s economy grew faster than expected, but Chinese consumers are still struggling. We’ll also hear how to find reasonably high interest rates on savings.
16-4-2024 • 8 minuten, 12 seconden
Is a system telling landlords how much to charge for rent illegal?
Big corporate landlords provide the company RealPage with data you can’t just see on Zillow, like the rent a tenant actually pays versus what’s advertised publicly. In return, the company recommends a rent price to set. Now, lawsuits are alleging that RealPage uses the data for wide scale rent-fixing. Also: the latest news on shares of Trump Media and a frank conversation about the shame that comes with debt.
16-4-2024 • 8 minuten, 9 seconden
China show more signs of recovery
From the BBC World Service: Economic growth in China, the world’s second biggest economy, beat expectations in the first quarter. Official data shows it’s being led by the manufacturing sector, but domestic demand is still weak. Plus, the Panama Canal will permit more ships from next month, easing congestion. And Colombia has become a top destination for so-called digital nomad; we take a look at how this is affecting the economy.
16-4-2024 • 8 minuten, 16 seconden
Busting the “immigrants as job takers” myth
On today’s program, we’re taking a closer look at immigration and entrepreneurship. Immigrants are more likely to start a new company than U.S.-born citizens, studies show. And those new businesses need to make hires — turns out, immigrant entrepreneurs are associated with a net gain in jobs. We’ll discuss. Also, a boost in the Internal Revenue Service budget seems to be making a difference, and investors respond to rising tensions in the Middle East.
15-4-2024 • 8 minuten, 10 seconden
Happy Tax Day from your friendly neighborhood chatbot
Today is Tax Day. While payers in 12 states have the opportunity to use a pilot IRS system to directly file their taxes online, tax software companies like Intuit and H&R Block have introduced generative artificial intelligence assistants to be more competitive. But do they work? Then, Samsung beats out Apple for title of the world’s biggest smartphone maker, and we examine how residents of “news deserts” access their local news.
15-4-2024 • 8 minuten, 49 seconden
What could a wider Middle East conflict mean for Iranians?
From the BBC World Service: Tensions continue to run high in the Middle East after Iran’s recent drone and missile attacks against Israel. We’ll delve into how this weekend’s events could make a bad situation worse for Iran’s heavily sanctioned economy and the people living there. Plus, we’ll hear how the ongoing war in Ukraine could provide another big hit to energy prices, and we’ll preview the outlook for Zimbabwe’s new gold-backed currency.
15-4-2024 • 7 minuten, 7 seconden
Why the unemployment gap for Black and white workers persists
The unemployment gap between Black and white workers has consistently been around 2 to 1 ever since the government started disaggregating the data more than five decades ago. While the Black unemployment rate is relatively low historically, the gap remains. We’ll discuss the institutional reasons why and how best to tackle the issue. Also on today’s program: the return of standardized testing and a preview of Senate hearings centered on Boeing’s manufacturing and safety practices.
12-4-2024 • 7 minuten, 10 seconden
Workers are getting a smaller slice of the pie
Next month, the Bureau of Labor Statistics will tell us how much of the income generated by workers’ toil actually went to them in Q1. That stat is called labor share of national income — and it’s shrinking. Plus, a government committee that scrutinizes deals between foreign companies and American firms may be getting more power. And 14 states are opting out of a summer EBT program that would help families buy groceries.
Wanna learn more about labor share of income and see Marketplace reporter Nancy Marshall Genzer get a pie in the face? Check out the Marketplace TikTok feed.
12-4-2024 • 7 minuten, 48 seconden
Chinese victims of a bitcoin scam believe the U.K. government has their money
From the BBC World Service: Thousands of victims of a huge investment scam believe police in London have nearly $4 billion worth of bitcoin that belongs to them and want the British government to give it back. Then, The European Central bank held interest rates steady but gave strong hints about future rate cuts. Plus, we hear about padel, one of the world’s fastest growing sports, and its Olympic ambitions
12-4-2024 • 8 minuten, 4 seconden
Unpacking the extent of this year’s FAFSA mess
On Wednesday, Republicans, Democrats and college officials took to Capitol Hill to vent about the Education Department’s botched rollout of a newer, simplified FAFSA form. That’s the form high school students fill out and send to colleges to determine financial aid offers — and it’s affected millions of students. We’ll also discuss fresh wholesale inflation figures and get a sneak peak at the latest season of Marketplace’s “Million Bazillion” podcast, which tackles kids’ biggest money questions.
11-4-2024 • 7 minuten, 24 seconden
Meta trials a new feature to protect teens
Meta’s latest answer to protecting kids on Instagram is automatically blurring images that may contain nudity. The company says it will test this on the platform’s direct messaging feature. We’ll parse the details. Plus, the FCC is requiring large internet providers to post “broadband nutrition labels” that provide a snapshot of charges and performance data. Will they impact consumers’ internet diet? And a recent survey finds that CEOs are feeling pretty optimistic.
11-4-2024 • 7 minuten, 46 seconden
A death sentence for one of the biggest bank frauds in history
From the BBC World Service: A Vietnamese court sentenced property developer Truong My Lan to death after she was convicted of taking $44 billion from one of Vietnam’s largest banks. Also, South Korea’s liberal opposition party won in a landslide majority in the country’s general election. And paralympian Stef Reid is asking sportswear companies who use amputee athletes in their marketing why it’s not possible to buy single shoes.
11-4-2024 • 7 minuten, 26 seconden
Interest rates are not coming down any time soon
That’s the conclusion of many investors this morning, following the release of the consumer price index. Consumer inflation clocked in at 3.5% annually, while central bankers are looking for a figure closer to 2%. We’ll talk through the data. Plus, a European court ruled that two Russian oligarchs were wrongly sanctioned following Russia’a invasion of Ukraine. And the Congressional Budget Office found that immigration means gains for U.S. economy.
10-4-2024 • 9 minuten, 32 seconden
I mean, it’s one home. What could it cost? A million dollars?
The value of a typical home has reached $1 million or more in 550 U.S. cities, according to Zillow. That’s a record high, and those not-so-affordable homes are proliferating well beyond the usual high-cost metro areas like New York, San Francisco and LA. Also on the program: what to expect from today’s consumer price index report and how a cocktail with roots in wartime propaganda manages to stay relevant.
10-4-2024 • 7 minuten, 30 seconden
South Korea goes to the polls
From the BBC World Service: Rising food prices, strikes and paying for an aging population were familiar themes as South Koreans voted today. Then, Spain has become the latest country to scrap so-called “golden visas,” where foreign nationals are granted residency rights in exchange for investments. And later, we hear about the aviation industry’s race against time to produce enough sustainable aviation fuel to meet the industry’s growing demands.
10-4-2024 • 7 minuten, 6 seconden
Attention Walmart shoppers: You may be entitled to compensation
Walmart has opted to settle a $45 million class-action lawsuit over allegedly inflating prices for certain products sold by weight, such as produce and meat products. That means if you purchased “weighted goods” from Walmart, you could be eligible for a payout of up to $500. Plus, investors are braced for the release of March’s consumer price index tomorrow, and we examine how funding from the CHIPS Act is being doled out.
9-4-2024 • 7 minuten, 11 seconden
Local news outlets are struggling. What are some solutions?
“What we’re living through is a historic, tectonic change in how news is produced, consumed and paid for,” says Tim Franklin at Northwestern University’s Local News Initiative. And he’s feeling encouraged. Today, we’ll discuss some of the economic models that could help bolster the sustainability of local news. But first, Tesla recently settled a case challenging how the company marketed its driver-assistance technology. We’ll hear more.
9-4-2024 • 7 minuten, 7 seconden
Europe’s green tech concerns
From the BBC World Service: After U.S. Treasury Secretary Janet Yellen warned about cheap Chinese green imports, business leaders in Europe are sharing their concerns about Beijing’s impact on the sector. Then, the money-laundering of 27 people connected to the Panama Papers gets underway. And later: Politicians have long utilized social media to reach voters. But whether (semi-embarassing) short dance videos are in store, is utilizing TikTok the right move for politicians?
9-4-2024 • 7 minuten, 29 seconden
When college costs $100,000 a year
You may want to shield your eyes. No, we’re not talking about the solar eclipse — though please do wear the appropriate glasses. Today, we’re talking about eye-popping college costs. One such example? At Vanderbilt University, some students could see a sticker price of nearly $100,000 for the upcoming school year. Also on the show: President Joe Biden’s latest student loan forgiveness plan and Treasury Secretary Janet Yellen’s “difficult conversations” in China.
8-4-2024 • 7 minuten, 46 seconden
Women pay more for health care. It adds up.
According to a Deloitte study, employed women pay $15 billion more each year for out-of-pocket health care than men do. We’ll unpack the reasons why and the toll these extravagant costs can take. In other health news, federal officials are taking a closer look at the role of private equity in health care. Also, two lawmakers on Capitol Hill have proposed national standards on data privacy. We’ll discuss.
8-4-2024 • 7 minuten, 17 seconden
Brazil judge launches Musk inquiry
From the BBC World Service: A Supreme Court judge in Brazil has launched an investigation into Elon Musk after he said he’ll defy a court order to block certain accounts on X, formerly known as Twitter. Also on the program: A chip giant looks to build a factory in Arizona, we take a closer look at seller fees on eBay, and small business owners react to TikTok’s uncertain future in the U.S.
8-4-2024 • 7 minuten, 47 seconden
A lot of businesses want to use AI to cut staff
A survey of corporate executives in the U.S. and elsewhere finds that nearly half expect to employ fewer people because of new artificial intelligence tools — and they expect that change to happen in the next five years. We’ll hear more. Plus, hiring was stronger than expected last month, continuing the Fed’s predicament. And later on the show, an immigrant family in Waterloo, Iowa, reflects on multigenerational living.
5-4-2024 • 6 minuten, 51 seconden
Checking in on a crew stranded in the Port of Baltimore
More than a week after the collapse of the Francis Scott Key Bridge, the crews of eight large cargo ships are stuck in Baltimore’s port indefinitely. Today, we tag along with a port chaplain who’s helping care for the crew members, offering a lifeline of comfort and connection. We’ll also preview March’s jobs numbers and hear about “green bank” government grants to aid the clean energy transition.
5-4-2024 • 7 minuten, 13 seconden
McDonald’s to buy back its Israeli restaurants
From the BBC World Service: McDonald’s is buying back all its stores in Israel following global boycotts over the Israel-Hamas War. We discuss the franchisee business model and what customers could make of the move. Then, Argentina is expected to face its worse-ever dengue season yet, and there’s a shortage of insect repellent. Plus, Saudi Arabia has struck a lucrative deal to host the Women’s Tennis Association Finals for three years.
5-4-2024 • 6 minuten, 55 seconden
The drama of Disney and the activist shareholder
Sometimes, annual corporate shareholder meetings are mundane. That was not the case this year at Disney, where there was an unusually bitter and public battle for say in how the company is run. We’ll take a closer examination of the proxy battle and its outcome. Also on the program: expectations of March job gains, the Fed’s no-win situation, Treasury Secretary Janet Yellen’s trip to China and airline responses to Boeing’s production delays.
4-4-2024 • 8 minuten, 14 seconden
A legacy to protect
Thursday marks 56 years since Dr. Martin Luther King, Jr. was assassinated in Memphis, Tennessee. On today’s program, we hear how Dr. King’s family is fighting to maintain access to the civiil rights leader’s words, continuing to safeguard his intellectual property, and promoting a legacy of nonviolent social change and racial unity. We’ll also learn more about a decline in the number of women in c-suite positions last year.
4-4-2024 • 7 minuten, 53 seconden
Yellen to press China on cheap green tech
From the BBC World Service: U.S. Treasury Secretary Janet Yellen is to meet officials in China for the second time in less than a year. What exactly can we expect from visit with government officials and business leaders? Then, Kenya’s health care system is in chaos as 4,000 public sector doctors and workers have gone on strike. Also: how is AI changing the next generation of prosthetics for people with disabilities?
4-4-2024 • 7 minuten, 7 seconden
Why Temu prices are so low
The Chinese-based platform Temu is transforming e-commerce, and it’s recently surged in popularity in the U.S. Described as being “like Amazon on steroids,” Temu’s products are often cheap and unbranded — but those low prices could be coming at high costs. Also on the program: few visible cracks in the labor market, a lack of remote work training, and an obituary for General Electric as a corporate conglomerate.
3-4-2024 • 8 minuten, 57 seconden
The financial wisdom of having multiple generations under one roof
Multigenerational living arrangements began to decline in the 1950s, thanks to the growth of suburbs, new job opportunities for those willing to move and the rise of senior housing. Yet from 1971 to 2021, the number of people living in multigenerational family households quadrupled. Why? Housing affordability plays a big role. But first: How might Taiwan’s major earthquake impact the global supply chain for semiconductor chips?
3-4-2024 • 7 minuten, 58 seconden
Who should pay to rebuild Gaza?
From the BBC World Service: A joint report from the United Nations and the World Bank suggests it would cost $18 billion to reconstruct infrastructure and buildings in Gaza. We consider where that money might come from. Plus, Taiwan has experienced its most powerful earthquake in 25 years. Then, we take a look at the Chinese-owned online retail platform, Temu. How does it manage to list products so cheaply?
3-4-2024 • 6 minuten, 49 seconden
A bond market in a funk
The yield on 10-year Treasury notes ticked up sharply to 4.4% this morning, and the thought of extended higher interest rates has stock investors in a cautious mood. We’ll discuss. Then, Google is promising to delete mountains of data following a class-action lawsuit. And it was last call for one of the oldest casinos on the Las Vegas strip this morning. We’ll took a look back at the history of the Tropicana.
2-4-2024 • 6 minuten, 49 seconden
This time, it’s scammers beware
Consumers lost more than $1.1 billion to impersonation scams in 2023, according to the Federal Trade Commission. This week, a new rule from the FTC went into effect that prohibits people from impersonating government agencies and businesses, and gives the FTC more tools to go after scammers. Plus, the United States and United Kingdom are teaming up to tackle AI safety, and the end of certain internet subsidies threatens telehealth access.
2-4-2024 • 7 minuten, 4 seconden
India braces for heat waves
From the BBC World Service: India is likely to experience more heat wave days than normal between April and June, potentially hitting agricultural production and hampering government efforts to bring down food inflation. There’s also a worry that soaring temperatures could deter people from voting in the upcoming elections. Also on the program: an agreement tackling the risk of AI, England’s expanded taxpayer-funded child care and the Dutch word for doing nothing
2-4-2024 • 6 minuten, 55 seconden
Has legislation to stop surprise medical bills worked?
We’ve been taking a close look on this program at the burdens of medical debt. Back in 2020, Congress passed the so-called “No Surprises Act” to protect patients from unexpected big bills for out-of-network medical care — and turns out, its wider impact on health care spending has yielded mixed results. But first on the show, California’s new $20-an-hour minimum wage for fast food goes into effect today. We’ll unpack reactions.
1-4-2024 • 6 minuten, 46 seconden
The public school enrollment conundrum
Funding for public schools partially depends on the number of students enrolled. But some public school districts are considering closing and consolidating schools due to enrollment declines that accelerated during the COVID-19 pandemic, according to a new Cato Institute survey. We hear more. We’ll also learn more about agriculture’s impact on Colorado River basin levels and an anti-redlining law that’s currently on hold.
1-4-2024 • 7 minuten, 42 seconden
China could be on the road to economic recovery
From the BBC World Service: China may be showing signs of an economic recovery, with factory output slightly up for the first time in six months — an indicator that the country’s pandemic-induced slowdown may be starting to ease. Plus, in Germany, people can smoke cannabis in public starting today. Then, Turkey’s main opposition party has claimed big election victories in major cities; high inflation and general economic weakness may partially be behind the wins.
1-4-2024 • 6 minuten, 57 seconden
More money doesn’t always mean more votes
President Joe Biden’s reelection campaign says it hauled in over $25 million at a New York City fundraiser last night, where Biden appeared alongside former presidents Barack Obama and Bill Clinton. So far, Biden is far out-raising Republican former president Donald Trump, but winning the money race doesn’t always translate into winning elections. And prices rose 0.3% in February, according to the personal consumption expenditures index. What should we make of that figure?
29-3-2024 • 7 minuten, 59 seconden
Much more than just checking a box
On the 2030 U.S. Census, Arab Americans will have their own box to check for the first time ever. And federal agencies are now being instructed to add a “Middle Eastern or North African” option to all data collection forms. One outcome? A clearer picture of economic conditions in Arab American communities. Then, a look at relief funds flowing into Maryland, and how medical debt can exacerbate existing pain and suffering.
29-3-2024 • 7 minuten, 13 seconden
Easter in Israel and the West Bank is missing a crucial element: visitors
From the BBC World Service: Thousands of tourists usually flock to Jerusalem and Bethlehem during Easter, but there’s been a massive drop since the war in Gaza. That’s hit local livelihoods. Then, we hear from an FTX investor discuss the moment he had to tell his clients their cash was gone. Plus, the price of cocoa surged to an all-time high this week.
29-3-2024 • 7 minuten, 7 seconden
One bridge, thousands of jobs affected
The Port of Baltimore remains cut off after the recent collapse of the Francis Scott Key Bridge. It’s already having effects on supply chains, but it’s also impacting the jobs and livelihoods of folks in the region. We unpack. Plus, households accumulated more wealth during the pandemic recovery than would have been expected, U.S. hydropower took a hit last year, and a new Tennessee law aims to protect musicians from generative AI.
28-3-2024 • 9 minuten, 42 seconden
Sports betting platforms attempt to encourage safer gambling
Seven of the largest U.S. sportsbooks, including FanDuel and DraftKings, are launching a trade group to promote responsible gambling. The move comes as legal sports wagers surge and as the NBA and MLB each investigate high-profile betting scandals involving athletes. Also on today’s show, we hear how the Baltimore bridge collapse is impacting workers there and look at proposed legislation aimed at tackling some of the burdens of medical debt.
28-3-2024 • 8 minuten, 13 seconden
China lifts Australian wine tariffs
From the BBC World Service: There is good news for Australian wine producers: They’ll no longer face tariffs from their largest trading partner, China. Also in China, smartphone giant Xiaomi moves into the EV market. What’s behind the move? Plus, dates are often associated with the holy month of Ramadan and the breaking of fast. We take an examination of how supply chain stressors are affecting the economy of dates.
28-3-2024 • 7 minuten, 21 seconden
Why Americans are drowning in medical debt
Medical debt is the leading cause of personal bankruptcy in America. Throughout the week, we’ll hear portions of a recent “Marketplace Morning Report” event to better understand what’s behind some of these exorbitant costs and hear about potential solutions. Plus, rerouting ships away from the Port of Baltimore will take time and money. We look at the potentials costs and see what other ports stand to gain.
27-3-2024 • 7 minuten, 53 seconden
$1 billion in relief for America’s child care crisis
The child care system in the U.S. is in crisis. The latest government funding bill just approved by the White House included a $1 billion increase for programs focused on child care and early childhood learning. Advocates see the boost as a win but caution that it still isn’t enough. Then, we’ll discuss what you need to know about the stock market debut of Donald Trump’s Truth Social.
27-3-2024 • 8 minuten, 10 seconden
China’s aging population problem
From the BBC World Service: China’s leaders are trying to find ways to battle what many economists have described as a demographic ticking time bomb. One in five people are over 60 there, making it the largest elderly population in the world. Plus, flying cars have long been a futuristic dream. A European company has developed — and successfully flown — its “AirCar” but just sold the technology to China.
27-3-2024 • 7 minuten, 30 seconden
The latest on the Baltimore bridge collapse
After a container ship struck a column of Baltimore’s Francis Scott Key Bridge early Tuesday morning, the structure collapsed and sent multiple cars into frigid waters. We’ll discuss what we know so far about the collision and its likely impacts on one of the busiest ports on the East Coast. Also on the program, we’ll hear useful context for the current crisis unfolding in Haiti and what a path forward might look like.
26-3-2024 • 8 minuten, 41 seconden
DJT comes to the Nasdaq
Shares of former President and presumptive Republican nominee Donald Trump’s social media company start trading Tuesday morning under the ticker symbol DJT. Initial public offerings can often bounce on their inaugural day, which could boost Trump’s wealth — on paper. But first: some numbers on a critical Baltimore bridge that collapsed overnight. We’ll also analyze Indigenous household finances and hear about a dip in sales at casual restaurant chains like Olive Garden.
26-3-2024 • 8 minuten, 3 seconden
Critical aid still not getting into Gaza
From the BBC World Service: The humanitarian crisis in Gaza continues as aid is still not getting through to large parts of the territory, according to the U.N. agency UNRWA, which reports it is being blocked from delivering food to northern areas. Plus, a court in China sentenced the former president of its football governing body to life in prison for taking bribes, and Canada’s maple syrup reserves reach a 16-year low.
26-3-2024 • 7 minuten, 46 seconden
As Boeing’s CEO steps down, union negotations ramp up
Boeing’s CEO has announced plans to step down just as the company begins negotiations with its largest labor union, which could authorize a strike in July if its demands aren’t meant. Also, the European Union’s antitrust regular investigates Apple, Google and Meta; why new home sales have become such a large chunk of the housing market; and tracing Haiti’s economic history from its founding to the current crisis.
25-3-2024 • 9 minuten, 33 seconden
As Trump Media goes public, Nordstrom attempts to go private
Today’s the deadline for former President Donald Trump to come up with more than $450 million in cash or bond to cover New York State’s civil fraud judgement against him. He could get a quick hit of cash as Truth Social’s parent company goes public with the help of a merger with something called a SPAC. Meanwhile, Nordstrom is making another attempt to remove itself from public trading and go back to being a private company. The retailer tried and failed to make a similar move back in 2018.
25-3-2024 • 8 minuten, 38 seconden
Could reshoring hurt global trade?
From the BBC World Service: In an exclusive interview with the BBC, the World Trade Organization’s director-general Ngozi Okonjo-Iweala says that when countries bring production back home — known as “reshoring” — it does not necessarily make supply chains more resilient. She thinks it contributes to a fragmentation of global trading relationships. Plus, how the popularity of the Mediterranean island Ibiza has driven up rents, making life hard for workers and the tourist businesses that employ them. And the streets of Paris see the return of a historic race of cafe servers.
25-3-2024 • 8 minuten, 19 seconden
“Greedflation” is a thing, the FTC says
Are grocery prices high because of supply chain problems and rising costs? Or is it because major grocery chains took advantage of those trends to pad their profits? A new report from the Federal Trade Commission suggests the latter. We’ll unpack what the report says. Plus, Biden cancels $5.8 billion in student debt for public service workers, and we’ll hear key takeaways from CERAWeek, the “Super Bowl” of energy.
22-3-2024 • 8 minuten, 12 seconden
The spending bill is also kind of a border security bill
The House is set to vote on a $1.2 trillion spending package Friday ahead of a partial government shutdown deadline. The proposed appropriations bill includes a significant bump in border security funding, including cash intended to more or less double the number of Border Patrol agents. We’ll also break down the Department of Justice’s antitrust case against Apple and hear how the need for insurance is influencing major life decisions.
22-3-2024 • 7 minuten, 17 seconden
The German national soccer team puts Adidas on the bench
From the BBC World Service: Nike is replacing Adidas as the sponsor of Germany’s national soccer team. Then, Volodymyr Zelenskyy is pleading for more ammunition for Ukraine’s war efforts; German chancellor Olaf Scholz says he’ll back a plan to use money from frozen Russian assets to buy more weapons. And a Swedish pharmacy chain says it won’t sell anti-aging skincare products to kids under the age of 15.
22-3-2024 • 7 minuten, 14 seconden
Reddit finally goes public
On Thursday, Reddit debuted on the New York Stock Exchange under the ticker symbol RDDT. The social network is valuing itself at $6.4 billion. But we wondered: Why go public now? Plus, the Congressional Budget Office says that the national debt will be smaller than previously thought, citing less government spending and more immigration. And we look at why we may end up with higher interest rates over the next few years.
21-3-2024 • 11 minuten, 15 seconden
Expect rate cuts — just not quite yet
The Federal Reserve left interest rates unchanged at its meeting this week, though it’s penciling in three rate cuts at some point this year. But what does the Fed need to see before it’ll actually lower rates? We’ll discuss. Then, Hermès faces a class-action lawsuit over Birkin bag sales. And the mining of metals beneath our feet is vital to the green energy transition but is often complicated.
21-3-2024 • 8 minuten, 11 seconden
Kosovo urged to drop Serbian cash ban
From the BBC World Service: The Balkan state Kosovo, which broke away from Serbia in 2008 after a bitter civil war in the late 1990s, currently doesn’t accept transactions in the Serbian dinar. But some Serb-majority areas are still reliant on the currency. We’ll hear more. But first, a Chinese-funded port in Pakistan was attacked by militants. We’ll detail what exactly happened.
21-3-2024 • 6 minuten, 57 seconden
Turns out we don’t scream for ice cream
The ice cream business is pretty chilly these days. Consumer goods giant Unilever announced this week that it’s going to spin off its ice cream business, which includes familiar names like Ben & Jerry’s, Popsicle and Klondike. The industry is dealing with declining demand, so how does it plan to defrost? Plus, the secret to using AI well at work may involve “more chat and less bot.”
20-3-2024 • 8 minuten, 20 seconden
About investing in climate resilience
Today, we’re bringing you a very ESG-focused podcast. First, Texas is pulling $8.5 billion from the country’s biggest asset manager, BlackRock, which the state’s school fund says is hostile to the fossil fuel industry. It’s a pushback against ESG investing, in which environmental, social and corporate governance issues factor into decision-making. Then, a new paper says climate resilience is an investment opportunity for big-time institutional investors. We delve in.
20-3-2024 • 8 minuten, 4 seconden
China and Australia’s rocky trading relationship
From the BBC World Service: China’s foreign minister is making his first trip to Australia in seven years. Will the talks bring a bitter three-year trade war to an end? Plus, the Red Sea is used by 30% of the world’s container ships using the Suez Canal, but the journey is being made perilous by drone attacks from Houthi rebels in Yemen. We hear from one of the U.S. warships now patrolling the waters.
20-3-2024 • 7 minuten, 57 seconden
Why Sports Illustrated’s buyer is keeping the print magazine around
Sports Illustrated has a new publisher, which says it will keep producing the magazine’s print editions. We’ll look into the value of a print product in the digital age. But first, Congress still needs to vote on a deal to keep the government funded until September. How likely is it to pass? And later, streaming platform Showmax is ramping up production and boosting a roster of African-made programs.
19-3-2024 • 8 minuten, 22 seconden
The chips behind artificial intelligence are getting more powerful
Nvidia is about as close to a rockstar as you can get in Silicon Valley currently. At a conference hosted in a sports arena, the company’s CEO introduced a new advanced chip that promises to be 30 times faster at some tasks than NVIDIA’s previously most advanced chip. We’ll also hear more about the Bank of Japan’s rate hike decision and discover how a housing justice video game was adapted for stage.
19-3-2024 • 8 minuten, 20 seconden
Japan finally raises interest rates
From the BBC World Service: Japan’s central bank has ended its policy of negative interest rates and raised the cost of borrowing for the first time in 17 years. Japan is the world’s fourth-largest economy, so there’s potential for global economic fallout. We’ll unpack the decision and its impacts. Plus, South African streaming service Showmax is making huge investments in original, African-made content, even while Amazon Prime scales back production investment there.
19-3-2024 • 9 minuten, 15 seconden
Who’s winning the dollar store wars?
As shoppers remain price-conscious, why is one U.S. dollar store chain thriving while another one flounders? Plus, SpaceX builds spy satellites for the Pentagon, and environmental protests impact operations at Tesla’s EV factory in Germany.
18-3-2024 • 8 minuten, 40 seconden
A video game where the only violence is in the economics
Made in Detroit, the interactive video game Dot’s Home takes users through a generations-long cycle of housing discrimination. Plus, Apple is in talks with Google for a potential AI integration.
18-3-2024 • 8 minuten, 36 seconden
Putin retains Kremlin power
From the BBC World Service: As Western nations condemn Russian President Vladimir Putin’s election win, what does a fifth term of his leadership mean for the country’s economy? Also: Tesla Germany faces eco-protests.
18-3-2024 • 7 minuten, 13 seconden
What could be the biggest change to real estate in a century
There’s news this morning that the National Association of Realtors, a powerful group that sets home sale standards nationally, reached a settlement following nationwide lawsuits alleging its rules and behaviors were keeping real estate commissions artificially high. The proposed agreement includes a payout and elimination of its rules around commissions. We’ll unpack. Then, we’ll discuss a trickier job for the Federal Reserve and hear reflections from a cabaret co-owner and performer.
15-3-2024 • 8 minuten, 52 seconden
Where did all of D.C.’s federal workers go?
The campaign to shrink the federal government is working — in Washington, D.C., at least. Data released by the Labor Department shows that D.C. ranked dead last when it comes to growth in federal government jobs last year. Most federal workers have always been based outside the nation’s capital, but the pandemic turbocharged that, hitting the city’s bottom line. Plus, why is it getting more expensive to do your taxes?
15-3-2024 • 7 minuten, 34 seconden
Russia goes to the polls
From the BBC World Service: With no credible challengers, Vladimir Putin is set to win Russia’s presidential election, and he’s taking credit for what appears to be a reasonably robust economy. But what’s behind those seemingly good numbers? And 500,000 people are expected to line the streets of Dublin to watch the St. Patrick’s Day parade Sunday; 28% of them will be overseas visitors. So how important is the holiday boost for the Irish economy?
15-3-2024 • 8 minuten, 21 seconden
Americans are opting to stay put
Americans have long been known for pulling up stakes and moving for economic opportunity. But rather than chasing higher-paying jobs, more Americans are reluctant to move — and housing costs have something to do with it. Plus, there’s plenty of economic data on the table to discuss: Wholesale inflation came in warm but not hot, retail sales rebounded, and unemployment has stayed under 4% for 25 months now.
14-3-2024 • 11 minuten, 1 seconde
Where does TikTok go from here?
On Wednesday, the House of Representatives’ passed a bill with bipartisan support that would force parent company ByteDance to either divest — to sell off — TikTok or see the app banned from U.S. app stores. But could such a divestiture happen? And would TikTok still be TikTok? Also on the program: The stock market is on a tear. Zanny Minton Beddoes, editor of The Economist, calls it “rational exuberance.”
14-3-2024 • 8 minuten, 25 seconden
TikTok responds to ban bill
From the BBC World Service: TikTok’s chief executive responds to the decision to potentially ban the app in the United States following allegations of links to the Chinese Community Party. We’ll hear some responses from China. Plus, Bitcoin is breaking records, and this time it’s in the right direction — it’s hitting all time highs. So what’s behind the surge?
14-3-2024 • 8 minuten, 31 seconden
Inside Chile’s plan to shorten the workweek
A year ago, Chilean officials voted to reduce the workweek from 45 hours, longer than in most industrialized countries, to 40. The new rule gives businesses until 2028 to tick down to 40 and is aimed at improving work-life balance. We check how the rollout is going. And the S&P 500 closed at a record high on Tuesday. Can the good times last? We hear the bull’s case for the market.
13-3-2024 • 9 minuten, 25 seconden
What working from home does to commercial construction
We’ve been hearing a lot about troubled commercial real estate loans, high office vacancy rates and continued remote work. All of these factors and more are feeding back up the food chain to the folks who design and build office towers and other commercial properties. We’ll discuss. Also: $300 million in new military aid to Ukraine, and a virtual fitness company CEO on staying strong in a changing market.
13-3-2024 • 8 minuten, 1 seconde
Argentina’s inflation rate finally falls
From the BBC World Service: Argentina’s inflation — the world’s highest — has slowed down from 20.6% in January to 13.2% in February. Then, hundreds of U.K. post office managers were wrongly prosecuted after faulty computer software calculated that money was missing from their branches. Today, the government will introduce legislation to quash the convictions. And businesses in Chile are preparing to cut their employees’ hours from 45 to 40 hours a week following a new law.
13-3-2024 • 9 minuten, 20 seconden
Millennials will be worse off than their parents, right? Maybe not.
It’s practically accepted as truth at this point: Millennials would be the first generation to be worse off than their parents. But recent research casts some doubt on that assessment. We’ll consider some economic findings that reframe things a bit. Plus, prices were up 3.2% annually in February, and month-over-month price increases seem to be going in the wrong direction. That’s not something the Federal Reserve will be happy about.
12-3-2024 • 7 minuten, 29 seconden
Wages have been outpacing inflation — but there’s a catch
While the purchasing power of earnings started to catch up to inflation last year, lower- and middle-income workers have been playing catch-up and are trying to dig out of debt. Meanwhile, Americans are working fewer hours on average, and fewer hours can cause total earnings to trail price gains. Also: a closer look at New York Community Bank’s lifeline and an examination of those earmarks in the $460 billion spending package.
12-3-2024 • 7 minuten, 34 seconden
Haiti’s leader resigns
From the BBC World Service: Haiti’s prime minister, Ariel Henry, has resigned after days of fierce fighting in the capital, Port-au-Prince. Heavily armed gangs have been roaming the streets there demanding his resignation. Then, India’s Supreme Court has told the country’s state bank to reveal the details of a scheme that allows political parties to receive anonymous donations. And later, as farmer protests continue across Europe, we look at what’s driving them.
12-3-2024 • 7 minuten, 35 seconden
The clock may be ticking for TikTok
The House of Representatives is expected to take up a bill this week that could effectively ban TikTok in the U.S. if the Chinese company that owns it, ByteDance, doesn’t sell off the social media platform. That effort has rare bipartisan support. We’ll unpack the latest. Later: what to make of some firmer-than-expected inflation readings and how the marching band at Prairie View A&M is helping students’ career prospects.
11-3-2024 • 7 minuten
Will safety issues at Boeing seriously impact air travel?
Consumer trust in Boeing is wearing thin since an airplane door ripped off a 737 Max 9 in January, which has been followed by a string of other recent Boeing safety incidents. So how much does faltering trust actually impact the business of air travel? Plus, President Joe Biden will unveil a new budget proposal today, and banks are still grappling with fallout of SVB’s failure one year on.
11-3-2024 • 8 minuten, 36 seconden
China’s National People’s Congress comes to a close
From the BBC World Service: China’s annual policy meeting has drawn to a close at a time when the country has mountains of debt, high youth unemployment and a property sector in crisis. So what is the government’s plan to boost confidence and steady the economy? Also on today’s program: Sweden officially joins NATO and an Australian politician unveils plans for the world’s largest chocolate fountain.
11-3-2024 • 7 minuten, 44 seconden
Signs of a still hot — but cooling — job market
This morning’s fresh jobs data shows that 275,000 people were added to payrolls last month. But December and January’s payroll numbers were revised down, pointing to a labor market coming off the boil. We dig in. Also on today’s show: President Joe Biden’s State of the Union address touted his economic wins, Google tries to crack down on spam in search results, and revised H1-B visa rules give workers more autonomy.
8-3-2024 • 9 minuten, 40 seconden
An economics-infused State of the Union address
President Joe Biden could have tiptoed around economics during last night’s State of the Union address, but that’s not what he did. Instead, he pointed to slowing inflation, called out corporations for unfairly raising prices, advocated for a fairer tax code and proposed a mortgage relief credit for first-time homebuyers. We’ll unpack some of the highlights from last night. Then, we’ll hear about a scaling back of proposed banking regulations.
8-3-2024 • 7 minuten, 53 seconden
The U.K. has no “credible plan” to fund armed forces
From the BBC World Service: The United Kingdom will be left increasingly reliant on military allies due to a black hole in defense spending, lawmakers warn. Then, it’s a decade since Malaysian Airlines flight MH370 disappeared; we have the latest on the search for the missing plane. And last summer marked the first time in six decades that Hollywood’s actors and writers went on strike simultaneously. How are the repercussions being felt?
8-3-2024 • 7 minuten, 41 seconden
Companies need to calculate risks as the climate changes
The Securities and Exchange Commission passed new rules this week requiring public companies to disclose climate-related risks to investors. The rules are meant to standardize reporting requirements on things like emissions and exposure to climate change-related disasters. We unpack. Also: When will the Fed cut rates? Senators are likely to put Jay Powell on the spot when he testifies. And New York Community Bancorp gets a $1 billion injection from investors.
7-3-2024 • 8 minuten, 18 seconden
When your barber is also your banker
As part of this month’s Econ Extra Credit series, we’re watching Oscar-nominated documentary shorts. On today’s show, we’re focusing on “The Barber of Little Rock.” The film follows Arlo Washington on his quest to fight economic inequality in Arkansas, where he founded a barber school and a nonprofit loan fund. Today, we’ll hear Washington’s conversation with “Marketplace Morning Report” host David Brancaccio. But first, the number of cybercrimes reported to the FBI is spiking.
7-3-2024 • 8 minuten, 14 seconden
Women’s shifting roles in the Irish economy
From the BBC World Service: On Friday, Ireland votes on whether to change a clause in the constitution that says a woman’s main duties are as a caregiver in the home. In this special from Dublin, women from different backgrounds speak about their experiences and opportunities in the workplace. We’ll hear their perspectives from Bewley’s, a tea room where the Irish Women’s Liberation Movement first met.
7-3-2024 • 9 minuten, 55 seconden
This election’s big trust issue (maybe not the one you’re thinking of)
Following Super Tuesday’s results, there hasn’t been a major paradigm shift, even after the suspension of Republican contender Nikki Haley’s presidential campaign. But many people in the world of business are laser-focused on the outcomes of November’s election because of what it can mean for antitrust policy. We delve in. Also: what’s included in spending packages before the House and how a lack of water is impacting the Panama Canal.
6-3-2024 • 8 minuten, 41 seconden
It’s a great time to be out in the ‘burbs
The U.S. housing market gained $2.4 trillion over the last year, according to a new Redfin report. Homes in suburban areas saw their values increase by more than 5.6%, which is more than homes in city centers. We add it all up. Plus, Apple has lost market share in China and is pushing an update to mobile operating systems in Europe. Then, lessons in life — and economics — courtesy of an HBCU marching band director.
6-3-2024 • 9 minuten, 23 seconden
iPhone sales slide in China
From the BBC World Service: Sales in China of Apple’s iPhone fell by 24% in the first six weeks of 2024 compared to a year earlier, while competitor Huawei saw its sales jump by 64% during that same period. Also, Singapore’s prime minister defends exclusive access to Taylor Swift’s Eras tour, and regional neighbors aren’t happy. And the Panama Canal faces a major problem: The canal is running out of water.
6-3-2024 • 9 minuten, 36 seconden
Explaining a major health care ransomware attack
There’s news this morning that UnitedHealth paid $22 million to recover systems from a ransomeware gang. The attack impacted a number of doctor’s clinics, especially in rural areas, and some pharmacies struggled to fill prescriptions as a result. Also on the program, we hear more about the state of Japan’s economy, a new satellite that detects methane gas leaks and club closures across the U.K. amid fizzling weeknight business.
5-3-2024 • 9 minuten, 13 seconden
It’s not just nurses in short supply
Nursing leaders in hospitals around the countries are on the frontlines of a decadeslong nursing shortage. But they’re dealing with retention issues of their own. A new survey found that nearly a third of hospital nurse leaders plan to leave their jobs within a year. We’ll also take a look at the hottest new tech stock and the president’s crackdown on junk fees. Plus, get ready for the political campaign ad deluge.
5-3-2024 • 9 minuten, 32 seconden
China sets ambitious economic target for 2024
From the BBC World Service: China’s National People’s Congress is underway, and the government has been laying out its aims for the next year — which includes a 5% growth target. We delve into the latest. Then, Australia plans to boost trade and investment in East Asia. Plus, midweek nights out used to be the norm for British college students. Have sticky floors and expensive drinks lost their appeal?
5-3-2024 • 8 minuten, 6 seconden
How writers’ and actors’ strikes shape what we watch
In its recent quarterly results, Paramount said it would continue several cost-cutting experiments it began in response to last year’s months-long strikes. That’s something it seems every media company is trying to do these days. What will it likely look like? More reality TV, foreign programming and live sports. Also on the show: unpacking what’s included in the the latest government spending bills and explaining the European Union’s $2 billion Apple fine.
4-3-2024 • 8 minuten, 15 seconden
What to make of New York Community Bank’s “material weaknesses”
Regional lender New York Community Bancorp has already had a rocky year so far and recently replaced its CEO following revelations of “material weaknesses.” NYCB acquired nearly $40 billion in assets last year from the failing Signature Bank, and that rapid growth can make it hard for internal controls to keep up. Also, a federal judge in Alabama struck down an anti-money-laundering law. And interest rates aren’t included in inflation calculations. What gives?
4-3-2024 • 9 minuten, 12 seconden
Can becoming a “book town” help rural communities?
From the BBC World Service: Wigtown, a remote town in Scotland, has turned its fortunes around by building a thriving literary sector. Can other towns see success by taking a leaf out of Wigtown’s book? Plus, the National People’s Congress gets underway tomorrow in Beijing, and getting China’s economy back on track is at the top of the agenda.
4-3-2024 • 8 minuten
Special: Democracy in the Desert
They say all politics is local. So where’s the local news coverage this election year? Welcome to a Marketplace Morning Report special we’re calling “Democracy in the Desert. We’ve been traveling to what are called “news deserts” in Super Tuesday states to hear about the business models that are failing or informing voters as they make their choices. We visit a border town in Texas, North Carolina and a Virginia county that’s just about an hour south of Washington, D.C., for more.
1-3-2024 • 31 minuten, 26 seconden
60 years since the Civil Rights Act, racial wealth gaps persist
The National Urban League is out with its latest assessment on the State of Black America, which measures racial inequality in areas including employment, health care, housing and criminal justice. While some gaps have closed, others still have a long way to go to reach parity. We’ll discuss. Plus, Wall Street is betting on a boom fueled by AI and falling interest rates, and theaters hope the “Dune” sequel will get moviegoers back in seats.
1-3-2024 • 9 minuten, 9 seconden
The life and death of a Virginia newspaper
Keith Stickley is the owner of Shenandoah Publications, which prints campus newspapers for colleges around Virginia. He also founded The Free Press, a newspaper that served his hometown and aggressively covered local issues and politicians. But he had to pull the plug on that paper when he just couldn’t make the economics work any longer. We hear his story as part of our Democracy in the Desert series. But first, Congress has barely averted a government shutdown — yet again.
1-3-2024 • 9 minuten, 3 seconden
Germany heads toward more rail strikes
From the BBC World Service: Pay negotiations between German’s national rail operator Deutsche Bahn and its drivers’ union have broken down, threatening six days of rail strikes. Then, the G20 is seriously considering a global minimum tax for billionaires. And yesterday was leap day, meaning that people in France had the chance to buy a newspaper that only comes out every four years.
1-3-2024 • 8 minuten, 1 seconde
$8.5 billion for 750 million sets of eyes
This week, Disney announced that it’s joining forces with India’s Reliance Industries to create a streaming platform that will serve up everything from live sports — notably cricket — to Disney films to TV dramas. It’s a strategic move from Disney in the world’s most populous country. Plus, goods prices receded, but services inflation is getting sticky. And: the economics (and tunes) of an HBCU marching band.
29-2-2024 • 9 minuten, 26 seconden
Democracy in a desert near D.C.
As part of our Democracy in the Desert series, we head today to King George County, just about an hour’s drive from D.C. There, we hear about how a changing media landscape left a community with few credible news sources and examine the sorts of impacts that’s had. When news go bust, where can people turn? Then, securities regulators are reportedly investigating whether OpenAI, maker of ChatGPT, misled investors.
29-2-2024 • 9 minuten, 8 seconden
Striking South Korean doctors threatened with arrest
From the BBC World Service: South Korea is threatening to arrest any doctors who continue to strike and says it will ban them from ever practicing again if they don’t return to work. Then, Cuba is asking the World Food Programme to provide milk to children for the first time in its history. And Saudi Arabia has made its biggest push into tennis, but it comes with accusations of sportswashing.
29-2-2024 • 9 minuten, 48 seconden
Extra day, extra pay?
2024 is a leap year, and tomorrow, Feb. 29, is a regular ol’ work day. So what does that additional day mean for your paycheck? It’s pretty straightforward for hourly workers but gets a little more complicated for salaried employees. We’ll also take a look at how recalls impact carmakers, hear about hope for averting a partial government shutdown, and look at why markets aren’t looking at revised GDP figures.
28-2-2024 • 9 minuten, 38 seconden
From news desert to election do-over
Today, as part of our Democracy in the Desert series, we head to North Carolina, where a Baptist minister seemed to win a 2018 congressional election by roughly 900 votes. But after a fraud scandal involving absentee ballots came to light, officials ordered a new election. We’ll hear how a lack of local news coverage played out in this story. Plus, what ever happened with Apple’s electric car efforts?
28-2-2024 • 8 minuten, 49 seconden
Creditors file to liquidate China’s largest property developer
A petition to liquidate has been filed in Hong Kong’s High Court against China’s biggest private property developer, Country Garden. Then, South Korea has reported a record-low birth rate despite spending billions to encourage women to have more children. And more than 6,000,000 people visit the Sistine Chapel each year, but big numbers could cause damage to the frescos. We’ll hear about the Vatican’s team of experts who monitor conditions in the chapel.
28-2-2024 • 7 minuten, 53 seconden
Teaching teens personal finance has long-term payoffs
A growing number of high schools are requiring students to take personal finance courses, and the long-term payoffs are significant. Plus, Macy’s is closing 30% of its stores, Expedia announces layoffs as the post-lockdown travel surge slows, and a $1 billion gift means free tuition at Albert Einstein College of Medicine in the Bronx.
27-2-2024 • 8 minuten, 57 seconden
The last local news outlet in town
With local elections looming — and no more daily newspaper in the area — how are residents of Del Rio, Texas getting their information?
27-2-2024 • 8 minuten, 14 seconden
Nigeria protests hunger and hardship
From the BBC World Service: Trade unions have led demonstrations in Nigeria, as the country grapples with an economic crisis. Also: There are concerns about the tactics used by companies offering loans via cell phone apps in Kenya.
27-2-2024 • 9 minuten, 44 seconden
A sunny outlook, courtesy of American business economists
Recession talks are receding and the the prospects of a soft landing are getting bigger, at least according to a new forecast by the National Association for Business Economics. But while the pros are betting the economy gets better and better this year, what about everyday folks? Then, we’ll pick up our discussion with model, entrepreneur and activist Bethann Hardison about the fits and starts of diversity in the fashion industry.
26-2-2024 • 8 minuten, 24 seconden
A news desert in the desert
They say all politics is local. But what are voters to do to get reliable, fact-checked information about local issues and politics when they have few news coverage options? As part of this week’s “Democracy in the Desert” series, we travel to Val Verde County, Texas, to hear how voters get their news ahead of Super Tuesday. Plus, AT&T will give a $5 credit to customers most affected by last week’s network outage.
26-2-2024 • 8 minuten, 22 seconden
Boeing delays could hit ticket prices in Europe
From the BBC World Service: Europe’s biggest low cost airline, Ryanair, is warning of a 10% rise in ticket prices this summer because delayed deliveries of new aircraft from Boeing could affect capacity. We’ll discuss. Plus, how is Russia’s economy faring after two years of sanctions? Then, we’ll discuss the death of Zong Qinghou, the billionaire beverage magnate who was China’s richest man.
26-2-2024 • 7 minuten, 26 seconden
When cost of living is a major voting bloc’s biggest concern
A new AARP survey of women age 50 and up is out. They’re a large demographic — 62 million, according to AARP — and are more likely to vote than other cohorts. They’re also a swing voting bloc, and rising costs are dragging down their personal economies. We’ll also learn about new tribal gaming compacts aimed at protecting tribes’ interests and hear why one economist is watching productivity gains.
23-2-2024 • 8 minuten, 33 seconden
Bethann Hardison on breaking barriers in fashion
For our Econ Extra Credit series this month, we’re watching “Invisible Beauty,” an autobiographical film exploring the life and work of model and activist Bethann Hardison. Today, “Marketplace Morning Report” host David Brancaccio is in conversation with Hardison to discuss a major cultural moment — walking for designer Chester Weinberg in the ’70s — and how she helped inspire a shift in the world of modeling and fashion. But first, Reddit goes for the IPO.
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23-2-2024 • 9 minuten, 15 seconden
IMF: Ukraine needs “timely support” from donors
From the BBC World Service: As Ukraine prepares to mark two years since Russia’s invasion, the International Monetary Fund says the country’s economy is holding up — but funding from the U.S. and other international backers remains essential. In Ukraine, however, delays in international funding are weighing on confidence. Plus, could menopause be considered a disability? Then, a look at the link between trade deals and panda deals.
23-2-2024 • 8 minuten, 9 seconden
About these regional bank-commercial real estate concerns…
Commercial real estate is a market that’s been sagging with lots of people still working from home. That’s been a source of consternation for regional banks with exposure to commercial real estate, like New York Community Bancorp, which Moody’s recently downgraded. But is all this anxiety actually overblown? We dig in. Plus, Japan’s stock market climbs out of a decadeslong slump, and the first online-only grocer will soon begin accepting SNAP benefits.
22-2-2024 • 10 minuten, 11 seconden
Good news on the emissions front
In a bright spot for news on the climate crisis, new data shows that U.S. carbon emissions dipped by 1.8% last year. Most of the reduction in emissions is coming from the power sector. We’ll explore what’s driving the shift and where progress still needs to be made. Plus, Nvidia saw a 265% revenue bump from a year ago. Then, inflation and health care remain key worries for voters.
22-2-2024 • 8 minuten, 20 seconden
Japan’s Nikkei hits record high thanks to chips
From the BBC World Service: Tokyo’s main stock exchange closed at a record high on Thursday, beating a three-decade old record and largely due to semiconductor microchips. The surge comes after U.S.-based chipmaker Nvidia posted Q4 financial results that beat estimates. An Nvidia-based bounce drove tech stocks in Europe too. Also on the program: How will Albania’s controversial migration deal with Italy work?
22-2-2024 • 7 minuten, 25 seconden
An invidious moment for Nvidia’s stock
Nvidia, maker of semiconductor chips used for generative AI, reports its Q4 financial results after markets close on Wednesday. The company has forecast major revenue gains, but there was a wave of nervous selling yesterday and the stock is down so far this morning. What should we expect today? Then: the latest student loan forgiveness program, the Richmond Fed president on price hikes’ inflationary impact and a shortage of coins in the Philippines.
21-2-2024 • 9 minuten, 10 seconden
Is diversity a fad in fashion?
As part of our Econ Extra Credit series, we’re exploring race and representation in the world of fashion. Today, we’re joined by fashion and costume historian Shelby Ivey Christie to discuss the industry’s inconsistencies on diversity — including on the runway and on magazine covers, as well as in boardrooms and editorial departments. Also, homeownership swelled before mortgage rates spiked, but disparities remain.
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21-2-2024 • 11 minuten, 8 seconden
Who’s going to pay to rebuild Ukraine?
From the BBC World Service: Saturday marks two years since Russia invaded Ukraine. As the conflict continues, rebuilding is a major concern for residents and businesses there – so where’s the money going to come from? Plus, campaigners say beef production by major meatpackers has been linked to illegal deforestation in Brazil, and some retailers in The Philippines are giving customers candy rather than small change because of a coin shortage.
21-2-2024 • 7 minuten, 39 seconden
Background on that Capital One-Discover deal
Once upon a time, Sears department stores were everywhere. A subsidiary of Sears launched the Discover card in 1986. It wasn’t unusual for department stores to offer their own credits cards, but the Discover card was accepted by other merchants. Today, we’ll hear a brief primer on the history that predated the recently announced Capital One-Discover purchase. Plus, China slashes mortgage rates, and northeastern Spain faces tough water restrictions.
20-2-2024 • 8 minuten, 13 seconden
One less credit card company, one more giant bank. Maybe.
Capital One says it’s reached an all-stock deal to take over Discover Financial Services. The acquisition would create a stronger rival to Visa and Mastercard, but it’s far from a done deal and is likely to face heavy scrutiny from regulators. Also on the show: why the average age of Americans farmer is on the rise, and what the producer price index can reveal about inflationary trends.
20-2-2024 • 8 minuten, 22 seconden
China unveils its first domestically produced passenger jet
From the BBC World Service: China’s C919 jetliner is being showcased at the Singapore Airshow. Its Beijing-backed manufacturer is hoping the plane will be a challenger to Airbus’ A320 and Boeing’s 737 Max. Then, doctors in South Korea are striking in protest at plans to train more physicians. And in Spain, the northeastern region of Catalonia has been suffering a record-breaking drought, and a state of emergency has been declared.
20-2-2024 • 9 minuten, 11 seconden
A radio host walks into a nudist colony
Newer technologies allow us to pay using smartphones, smartwatches or even the palms of our hands. But what could you do before such technologies existed … in a place where there aren’t any pockets? Today, we’ll revisit a 1991 story in which Marketplace’s David Brancaccio explored and exposed the payment systems of Cap d’Agde, a naturist village and resort in France. Plus, a look at the economic issues likely to arise at CPAC.
19-2-2024 • 7 minuten, 7 seconden
Cash? Credit? Check? Or palm?
If you could pay for things with just a wave of your hand, would you? Now, Amazon One, tech that scans your hand and links your identity to your credit card, has been rolled out at multiple Whole Foods locations. We’ll hear what the odds of this new tech taking off are and what happens to all that biometric data. Plus, construction companies are still struggling to find building materials.
19-2-2024 • 8 minuten, 11 seconden
Seven weeks after Japan’s earthquake, residents struggle to rebuild
From the BBC World Service: Japan’s remote Noto Peninsula was rocked by a deadly New Year’s Day earthquake, which killed more than 200 people and damaged or destroyed some 55,000 homes. Communities are still without basics services such as water. First, after weeks of farming protests in Europe, farmers stage demonstrations over European Union agricultural policies in the capital of the Czech Republic.
19-2-2024 • 6 minuten, 39 seconden
When Xbox games don’t require an Xbox
Microsoft, the owner of Xbox, announced on Thursday that it’s bringing several previously Xbox exclusive games to rival consoles. More could be coming. Playstation and Nintendo have historically used games that can only be played on their gaming consoles to help drive console sales. So what’s behind the shift in strategy for Xbox? Also on the show: closer examinations of wholesale prices and the Biden administration’s latest attempt at student loan cancellation.
16-2-2024 • 7 minuten, 18 seconden
The FCC takes aim at AI robocalls
Last week, the Federal Communications Commission banned robocalls that use voices generated by artificial intelligence. This comes after New Hampshire voters received phone calls during that state’s primary, which used AI to imitate President Joe Biden and discourage people from heading to the polls. Today, we hear how generative AI is being used to manipulate and what consumers can do to protect themselves. Also: a disappointing snapshot of the manufacturing economy.
16-2-2024 • 7 minuten, 35 seconden
Airbus boss says they’re too slow going green
From the BBC World Service: Aviation was responsible for 2% of global carbon emissions last year, according to the International Energy Agency, and the industry is under pressure to develop greener engines. But the boss of Airbus, one of the world’s biggest airplane makers, doesn’t think progress is speedy enough. Plus, political drama and a tax investigation ahead of India’s elections and an exploration of dynamic pricing.
16-2-2024 • 7 minuten, 7 seconden
Consumers backed off a bit in January
Turns out, we weren’t very spendy in the first month of the year. In January, retail sales were down 0.8% — more than many economists expected. It’s an indicator that consumers are feeling weary of high prices and becoming more value-oriented. We’ll discuss. Also on the show: Express, once a mainstay of every mall, could soon file for bankruptcy. Then, college endowments see big returns thanks to solid stock market gains.
15-2-2024 • 8 minuten, 45 seconden
What student loan forgiveness means for your taxes
Since President Joe Biden took office, more than 3.6 million people have had their federal loans forgiven in full. But what’s that mean for your tax bill? While you don’t have to worry about federal taxes, state taxes could be another story. We’ll provide a helpful explainer. Plus, consumers complain about high prices but spend anyway, and that’s helping turn shoppers on to off brands.
15-2-2024 • 7 minuten, 19 seconden
The U.K. and Japan in recession
From the BBC World Service: Japan’s economy unexpectedly shrank for the second quarter in a row last year, meaning the country has slipped into recession and lost its spot as the world’s third largest economy. Meanwhile, the U.K. also fell into recession during the final three months of last year. Plus, thousands of vehicles shipped by Volkswagen have been held up at U.S. ports over a Chinese-made component.
15-2-2024 • 7 minuten, 6 seconden
Come to the cabaret
Can Can Culinary Cabaret is nestled in Seattle’s historic Pike Place Market. But the COVID-19 pandemic radically transformed the business, its audiences and the performers who keep the show going. Today, we’ll hear about its return to something that resembles “normal” and what that path was like for onstage storytellers and artists. We’ll also look at how U.S. inflation figures and interest rates affect economies around the globe.
14-2-2024 • 13 minuten, 26 seconden
This Valentine’s Day, a not-so-sweet chocolate economy
Lovers and chocolate lovers beware: If you’re eyeing a heart-shaped box of chocolates for Valentine’s Day, those bonbons are going to come at a cost. Cocoa prices recently hit an all-time high and sugar prices have spiked too. Rather bittersweet, huh? But first, Tuesday’s inflation data headed in the wrong direction — and markets were not pleased. Plus, why does Walmart want to buy bargain television brand Vizio?
14-2-2024 • 6 minuten, 50 seconden
Indonesia heads to the polls — and it’s all about the economy
From the BBC World Service: Indonesia is Southeast Asia’s largest economy and the world’s third largest democracy. Today, citizens vote in the presidential and legislative elections, which are dominated by issues like future growth and job opportunities. Meanwhile, farmers in India continue protests over the prices they receive for their goods. And we hear from Racheal Kundananji, the soccer player who has set a new transfer record with her move to San Francisco’s Bay FC.
14-2-2024 • 6 minuten, 45 seconden
Germany goes on defense
Earlier this morning, the Senate approved a $95 billion aid package for Israel and Ukraine. Meanwhile, German Chancellor Olaf Scholz says Europe’s defense industries must switch toward arms productions. Manufacturers are struggling to meet demand for ammunition, as the war in Ukraine continues and fears of what another Donald Trump presidency could mean for U.S.-Europe security ties are renewed. Also: inflation lingers, and Airbnb adds yet another fee.
13-2-2024 • 7 minuten, 59 seconden
The uglier sides of an industry centered on beauty
Modeling may seem glamorous, but the realities of the industry can be far from picture-perfect. Today, as part of our Econ Extra Credit series, we take a hard look at what is being done to protect models and hold the agencies that sometimes recruit and exploit them accountable. Also: the most watched program in U.S. history and a brief, planned Valentine’s Day strike among ride-share drivers.
13-2-2024 • 7 minuten, 14 seconden
Farmers threaten protests in India
From the BBC World Service: Police in Delhi banned all public gatherings after farmers threatened major demonstrations in India’s capital. Polish farmers stopped several Ukrainian trucks and emptied some of their grain cargo to protest what they say is unfair competition. And couples in the United Kingdom planning to grab takeout for a cozy Valentine’s night in may be disappointed as thousands of delivery drivers plan to go on strike.
13-2-2024 • 6 minuten, 58 seconden
Economists seem to be changing their tune
Recession? What recession? Many economists predicted an economic downturn last year and were wrong. More are optimistic about the economy for the year ahead, but some now think that the Fed is keeping interest rates too high. We’ll discuss. Also on the show: We’ll examine how Ireland’s government and citizens are addressing booming migration.
12-2-2024 • 8 minuten, 38 seconden
The great CPA shortage
Tax season is here. But if you’ve been putting off finding an accountant, good luck. Between a wave of retirees and a drop in the number of people graduating with accounting degrees, the profession is struggling to staff up — and many are turning away work. We’ll also take a look at what sorts of global risks economists are concerned about and what to make of rising mortgage debt.
12-2-2024 • 8 minuten, 29 seconden
Is Starlink in Russian hands?
From the BBC World Service: It’s alleged that Starlink, the internet connection system made by Elon Musk-owned SpaceX, is being used by Russian troops. Musk has previously made assurances that Russia wouldn’t be able to use to it. Then, construction of a new ammunition factory gets underway in Germany, and Ireland’s government struggles to provide housing and other necessities for migrants.
12-2-2024 • 8 minuten, 40 seconden
Playing it safe
We’ll hear from Ad Age’s Jeanine Poggi about this year’s Super Bowl commercials: why brand are trying to keep their campaigns controversy-free and what representation looks like for the country’s most-watched event. Plus, inflation data analysis with FHN Financial’s Chris Low and an update on nuclear fusion technology from Europe.
9-2-2024 • 8 minuten, 59 seconden
Senators grill big pharma execs on drug prices
The Senate Committee on Health, Education, Labor, and Pensions held a hearing yesterday for three pharmaceutical CEOS on “outrageous” drug prices when compared to other countries. Plus, Super Bowl ad trends ahead of the weekend’s big game and results from the 2022 U.S. Trans Survey.
9-2-2024 • 8 minuten, 40 seconden
Farmers protests spread to Italy
From the BBC World Service: Protests that started in Poland have spread across Europe and now Italian farmers are threatening to bring Rome to a standstill. They say they’re taking a stand against red tape, higher costs and competition from cheaper foreign imports. And, millions of people across Asia are getting ready for Lunar new year celebrations which start tomorrow. But amidst the fun, fears over the economy — particular in China — threaten to dampen the mood.
9-2-2024 • 7 minuten, 38 seconden
High heat harms workers in Southeast Asia
Thousands of workers in Southeast Asia are forced to work in scorching temperatures. A recent study showed dangerous effects of constant heat on at-risk workers, including health problems. We’ll visit Cambodia’s brick kilns to learn more. Plus, Sen. Amy Klobuchar talks child internet safety, and KPMG’s Diane Swonk dissects the job market.
8-2-2024 • 8 minuten, 17 seconden
Disney is (re)entering its video game era
Disney announced it will take a $1.5 billion stake in Epic Games — the creator of popular game platform Fortnite — in an effort to diversify while its linear media struggles. The partnership means we can expect Epic-created games featuring Disney characters in the not-too-distant future. Plus, Federal Reserve higher-ups signal they will take their time on rate cuts and U.S. imports of Chinese goods fell last year.
8-2-2024 • 8 minuten, 36 seconden
Prices fall in China
From the BBC World Service: Consumer prices in China have seen their steepest fall since 2009, adding to deflation woes. In Pakistan, millions are heading to the polls to vote in a new government. And a study on working conditions in Cambodia’s garment and brick industries highlights the risks climate change poses to those already struggling in hot countries.
8-2-2024 • 8 minuten, 29 seconden
Call it “manageable”
At least Treasury Secretary Janet Yellen did when describing banks with souring commercial real estate investments. Stock in New York Community Bancorp, a regional bank with commercial real estate loans, fell nearly 30% on Tuesday, and Moody’s downgraded the bank’s credit grade to “junk” status. We examine. Also on the program: why some college athletes are looking to unionize, and why people in India are lining up for work in Israel.
7-2-2024 • 7 minuten, 29 seconden
Spanish farmers join Europe-wide protests
From the BBC World Service: Spanish farmers have joined a wave of protests sweeping Europe. They’re demanding more support from the EU and their government and say they’re fed up with high costs and stringent environmental standards. Then, thousands of Indian men have lined up to apply for construction jobs in Israel, which relies heavily on migrant labor — especially since revoking Palestinian work permits since the war in Gaza.
7-2-2024 • 6 minuten, 42 seconden
“Diversity is simply good business”
A new national survey finds that a majority of c-suite executives say diversity initiatives are important for positive business outcomes. The findings come as recent headlines and high-profile business leaders have criticized diversity, equity and inclusion (or DEI) work, and the support comes from across the political spectrum. Also: new SEC oversight for firms like hedge funds and a one-stop shop for sports streaming.
7-2-2024 • 7 minuten, 49 seconden
The regional bank stock ick
Stock in New York Community Bank plunged last week after it said it was setting aside additional funds as a cushion in case some of its commercial real estate loans went bad. The value of commercial office space is falling as more people work from home, and investors are still skittish. Plus, Canada extends a ban on noncitizen housing purchases. And we’ll hear how one flour mill is rebuilding a year after the devastating Turkey-Syria earthquake.
6-2-2024 • 6 minuten, 45 seconden
What does it take for a makeup brand to make it?
It’s earnings week for big beauty brands: affordable E.l.f. Beauty and luxury brand Estée Lauder, which recently announced thousands of job cuts. But plenty of companies and entrepreneurs are throwing their hat into the cosmetics ring, and Gen Z is forcing many to evolve. Also, President Xi Jinping is set to talk with financial advisors about China’s stock market, and Lyft unveils a pay transparency play for drivers.
6-2-2024 • 6 minuten, 55 seconden
Turkey, Syria mark one-year anniversary of devastating earthquakes
From the BBC World Service: A year after the catastrophic earthquakes that killed more than 50,000, aid agencies are warning that major rebuilding still needs to be done. In the worst hit parts of southern Turkey and northern Syria, businesses are making some progress with some help from the U.S. government. However, Save the Children says one-third of those displaced by the disaster are still homeless.
6-2-2024 • 6 minuten, 41 seconden
A big strike averted before the big game
This weekend, negotiators between several Las Vegas casinos and the Culinary Workers Union reached tentative agreements with just hours to go before a strike deadline. This comes as Vegas kicks off Super Bowl week and is slated to welcome more than 300,000 visitors. Then, feds will start collecting information from crypto mining companies about their electricity use, and we’ll look at Canada’s pathway to family reunification for Sudanese refugees.
5-2-2024 • 7 minuten, 34 seconden
When a Fed chair goes on national TV
“Prudent” was the watchword from Federal Reserve Chair Jerome Powell in an interview last night with “60 Minutes.” Powell said the Federal Reserve isn’t in a rush to cut interest rates and that, as usual, the timing of any potential rate cuts depends on the data. Plus, we’ll provide a taste of some of the rich sounds from a Minnesota brewery that helps support music education.
5-2-2024 • 7 minuten, 40 seconden
Parisians say ‘oui’ to new SUV parking fees
From the BBC World Service: Residents of Paris vote to triple parking fees for SUVs, but only if they’re brought from outside the city. We’ll hear more about the change. But first, revenues from Egypt’s Suez Canal were nearly halved in January. And later, are the terms of Canada’s Sudanese family reunification plan too difficult for families to meet?
5-2-2024 • 6 minuten, 55 seconden
A job market in overdrive
Some 353,000 more people were on payrolls in January — nearly double what economists expected. The job gains were spread across the economy, but could this labor market growth be inflationary? Also on the program: It’s been nearly a year since regional banks were in crisis, but trouble for commercial real estate means the turmoil isn’t over yet. We’ll also take an inside look at the “Star Wars” vintage merch economy.
2-2-2024 • 9 minuten, 6 seconden
Why so many companies are incorporated in Delaware
Elon Musk is considering reincorporating Tesla in Texas after a court in Delaware, where Tesla is currently incorporated, voided his $56 billion compensation package. But roughly two-thirds of Fortune 500 are incorporated in the First State. We’ll examine why. Plus, Apple and Amazon are doing just fine, as reported in their latest earnings. And how can nature be a measurable part of our economy? The Biden administration seeks to find out.
2-2-2024 • 8 minuten, 18 seconden
El Salvador heads to the polls
From the BBC World Service: El Salvador’s current president, Nayib Bukele, is widely expected to be returned to power, but concerns about the economy and human rights violations under his leadership remain. Then, it may take place in a galaxy far, far away, but the trade in “Star Wars” merchandise is generating millions of dollars on this planet.
2-2-2024 • 9 minuten, 1 seconde
Jay Powell under pressure
The Federal Reserve is expected to lower interest rates sometime in 2024 — but that didn’t happen this week and Fed Chair Jerome Powell said not to expect it in March either. We’ll discuss the move (or lack thereof), as well as pressure on the central bank to confront housing costs. Plus, we’re getting more productive, churn in labor market isn’t as frenzied, and Medicare will start negotiating drug prices.
1-2-2024 • 7 minuten, 22 seconden
A major FAFSA snafu
The results from FAFSA, the form students and their parents fill out to see how much financial aid they can get for college, won’t be released this year until March. That’s more than a month later than initially expected, and the delay is stressing out those who work with college applicants. Plus, a look back at the life of Black entrepreneur and economic activist A.G. Gaston.
1-2-2024 • 7 minuten, 28 seconden
EU agrees key $55 billion funding for Ukraine
From the BBC World Service: Like in the United States, politicians across the European Union have been struggling to finalize an aid package for Ukraine. But all 27 EU leaders have just approved a $55 billion aid package for Ukraine, after Hungary’s leader Viktor Orbán initially blocked the funding. Also: a record number of Chinese migrants are traveling through South America to reach the U.S.
1-2-2024 • 7 minuten, 36 seconden
Why Elon Musk is mad at Delaware right now
A judge has struck down Elon Musk’s compensation package at Tesla, valued at nearly $56 billion. The judge in Delaware — where Tesla is incorporated — called the amount “unfathomable” and said Tesla’s board failed to meet its responsibilities to shareholders. Let’s unpack the case. Plus: why prices for lithium are in free fall and how to build a home without putting out loads of emissions.
31-1-2024 • 10 minuten, 56 seconden
Managers beware
Global shipper UPS announced Tuesday that it’s planning to eliminate 12,000 jobs over the next few months — most of them in management. While shareholders love the phrases “trimming the fat,” “cutting costs” and “right-sizing,” why are managers so often the targets? We’ll also hear about a negated pay package for Elon Musk and the tough balancing act for Fed Chair Jerome Powell.
31-1-2024 • 6 minuten, 19 seconden
Gaza: UN urges donors to reconsider funding freeze
From the BBC World Service: Top United Nations officials are pleading with countries, including the U.S., to reconsider after they withdrew funding for its main aid agency in Gaza. Then, one of the world’s biggest record labels is pulling its music from TikTok after failing to reach a new licensing agreement with the platform. Also: another apology to U.K. Post Office scandal victims and greener construction.
31-1-2024 • 7 minuten, 42 seconden
Toyota takes the crown
The auto industry had a generally strong 2023. This certainly included Toyota, which reported that it’s held onto its title as the world’s best-selling car company. But during prepared remarks, the company’s chairman also offered an apology. We unpack. Plus, can we expect any interest rate moves from the Federal Reserve this week? Then, we head to Germany, where protests are sweeping the country to counter the far-right Alternative for Deutschland party.
30-1-2024 • 7 minuten, 48 seconden
AI helped Microsoft become the world’s most valuable company
Over the past few weeks, Microsoft overtook Apple to become the most valuable company in the world by market capitalization. And investors will be hoping for more good news on that front when the company announces quarterly earnings on Tuesday. Also on the program: Walmart is offering store managers up to $20,000 in stock a year. We hear more. Plus, if you can’t afford college, how about chicken wings?
30-1-2024 • 8 minuten, 5 seconden
Power-sharing could return to Northern Ireland
From the BBC World Service: Democratic Unionist Party leader Jeffrey Donaldson said his party had agreed to end its almost two-year boycott of the Northern Ireland Assembly. We’ll discuss. Then, we’ll take a look at ongoing demonstrations across Europe: Hundreds of tractors are blocking major roads into Paris as farmers protest against red tape and foreign competition, and Germany experiences a second weekend of protests against a far-right party’s mass deportation meetings.
30-1-2024 • 8 minuten, 57 seconden
Buy now, pay later? Or pay monthly? Or both?
Some buy now, pay later platforms are testing out a new model: subscription plans. For these companies, it’s another guaranteed revenue stream and maybe a way to lock in loyal customers. But can they work when paying later is the whole point? Plus, we’ll examine what Evergrande’s liquidation means for the world’s second largest economy. And squeamish listeners beware: We’ll hear how France is grappling with its recent bedbug outbreak.
29-1-2024 • 7 minuten, 45 seconden
How worried should we be about rising credit card debt?
Consumer spending ticked up in December, and more people are swiping their credit cards. Part of the reason folks are more comfortable putting it on plastic is confidence in the overall job market. But delinquency rates have been climbing too. We’ll hear what economists make of these trends. Also: United Airlines in talks with Airbus and ripple effects of liquidation orders for property giant Evergrande.
29-1-2024 • 7 minuten, 32 seconden
Property giant Evergrande to be liquidated
From the BBC World Service: Evergrande was once China’s biggest property developer. Now, a judge in Hong Kong has ordered the liquidation of the debt-laden real estate giant, but Evergrande says it’ll continue on China’s mainland. And French farmers take their fight over red tape and environmental policies to Paris. Plus, we hear how that city is tackling the problem of bedbugs ahead of the Summer Olympics.
29-1-2024 • 8 minuten, 42 seconden
Is Tesla a tech company or just another automaker?
Tesla had a rough 2023. On Wednesday, CEO Elon Musk warned Chinese electric vehicle maker BYD could overtake global competition without trade barriers, and investors weren’t so impressed. The company’s stock closed down 12% yesterday. Plus, we’ll dig into the most recent PCE data and hear about Japan’s deflation problem.
26-1-2024 • 6 minuten, 53 seconden
Record federal contract dollars for Native nation-owned firms
In 2023, $23 billion in federal contracts went to companies run by tribal nations, Alaska Native corporations and Native Hawaiian organizations. That’s 3% of the total federal contracting pool. We’ll get into why that money — and jobs that come with it — matter. Plus, the indie film market at Sundance and a ten-year high for IBM stock.
26-1-2024 • 6 minuten, 57 seconden
UK walks away from trade negotiations with Canada
From the BBC World Service: British negotiators have walked away from talks with Canada, after it refused to continue a short-term deal that suspended tariffs on cheese; previously, the U.K. had been part of the EU’s agreement for tariff-free imports. Then: There’s been a major u-turn from Apple — it will now allow users in the EU to download apps from rival providers. A federal judge in Brazil has ordered three mining giants to pay almost $10 billion in damages over a deadly dam burst in 2015. And a business-minded Tanzanian teenager on a mission to help other kids learn about money and entrepreneurship.
26-1-2024 • 7 minuten, 18 seconden
Homebuilder confidence climbs
Mortgage rates have fallen since early last fall, when they hit 8% for the first time since 2000. Now, buyers who were biding their time are finally making moves. And if rates continue to drop, demand is likely to rise. All this is good news to homebuilders. Plus, the latest on the Boeing debacle and an analysis of last quarter’s economic growth.
25-1-2024 • 8 minuten, 31 seconden
A safe place to park
On Thursday, House lawmakers will unveil a bipartisan bill that will fund safe places to park for people who are living in their vehicles. New Beginnings, a California nonprofit that pioneered the program, says in addition to an influx of families with young children, senior citizens make up half of their safe parking enrollees. We’ll also hear about researchers using satellite radar data to assess the scale of damage done by Israeli forces in Gaza.
25-1-2024 • 7 minuten, 6 seconden
The shipping industry tallies the cost of Red Sea tensions
From the BBC World Service: Major shipping companies including Maersk and DP World are having to re-route vessels and are predicting extended delays in shipments — the European market and the East Coast are worst affected. Plus, millions of people around the world will be celebrating the birthday today of one of Scotland’s most iconic cultural icons: the poet Robert Burns. This year, the Scottish government aims to use the celebrations to open up economic opportunities.
25-1-2024 • 7 minuten, 26 seconden
In Asia, it’s a tale of two markets
Japan’s Nikkei index has hit a 34-year high. Meanwhile, China’s markets have hit 5-year lows; the Hang Seng Index lost more than half its value since the end of 2020. Capital is moving in Asia, but what exactly is going on? Then, later in the program, we’ll hear how artificial intelligence is increasingly being used is to commit identity fraud.
24-1-2024 • 7 minuten, 7 seconden
The farm bill faces delays. Again.
The current farm bill, which funds everything from crop insurance to nutrition programs, was set to expire in September. Congress gave itself a yearlong extension to negotiate an update, but it could take longer than that. What issues are likely to get attention in the next bill? Plus, Boeing pauses one factory’s production for a day to focus on quality training, and rail workers in Germany begin a strike.
24-1-2024 • 6 minuten, 48 seconden
A general strike hits Argentina
From the BBC World Service: It’s only been a month since Argentina’s president Javier Milei took office, but already big protests are set to take place over his plans to shake up the country’s economy. Then, as businesses turn to online verification tools, fraudsters are using artificial intelligence to create sophisticated disguises and hack into other people’s accounts. What can be done to stop it?
24-1-2024 • 8 minuten, 45 seconden
TurboTax in trouble
Just in time for tax season, the Federal Trade Commission has issued a final ruling against Intuit, the maker of TurboTax, over what it claims is deceptive marketing for TurboTax’s free online tax filing software. We’ll dig in to that decision. Then: a look at what’s expected to lose United Airlines money in Q1 and an examination of how luxury development is dividing the island of Barbuda.
23-1-2024 • 6 minuten, 48 seconden
Fixing FEMA
After a natural disaster, getting individual aid from FEMA can be a notoriously slow and cumbersome process. But the Biden administration is looking to improve it. We’ll hear how new rules are meant to cut through all the red tape. Plus, some trace Boeing’s problems back to the ’90s. We’ll unpack more of the company’s history. Also on the program: What’s behind global stock rallies?
23-1-2024 • 6 minuten, 31 seconden
U.S. and U.K. launch new strikes on Houthis in Yemen
From the BBC World Service: The U.S. and U.K. conducted additional air strikes against the Houthi rebel group in Yemen, as the group continues to attack Red Sea cargo ships. Then, as Chinese electric vehicle giant BYD looks to expand its line-up with luxury models, we’ll hear why the company was right to start at the affordable end. We’ll also see why locals are concerned about plans to boost Barbuda’s tourism sector.
23-1-2024 • 7 minuten, 55 seconden
Let’s focus on the positives!
On Monday, we got the latest survey of business conditions from the National Association for Business Economics, and businesses are feeling pretty good these days. More businesses reported positive profit margins, and fewer are anticipating a recession in the coming year. We’ll discuss. Then, we’ll hear about Exxon’s lawsuit to block activist investors’ climate proposals and learn about some of the challenges facing Brazil nut producers in Bolivia.
22-1-2024 • 7 minuten, 41 seconden
Yet another headache for Boeing
Scrutiny of Boeing planes have grown beyond the 737 Max 9, the aircraft that was thrust into the spotlight following the Alaska Airlines accident earlier this month. The Federal Aviation Administration has urged airlines to inspect some older 737 model with the same door plug designs as the Max 9. We’ll explore what’s at stake. Plus, higher interest rates and the troubled commercial real estate are piling pressure onto regional banks.
22-1-2024 • 7 minuten, 25 seconden
Australia axes its “golden visa” scheme for wealthy investors
Designed to attract foreign business, Australia’s visa scheme was cut in an immigration overhaul after the government found it was “delivering poor economic outcomes.” Also on the program: A month-long fishing ban comes into force off the French Atlantic coast today. Then we’ll head to Bolivia, the world’s biggest exporter of Brazil nuts. But nut producers there are grappling with volatile prices.
22-1-2024 • 8 minuten, 23 seconden
What’s come out of Davos?
Today, the World Economic Forum is wrapping up in Davos, Switzerland. There, meetings have been held between company heads and global leaders. Key themes include artificial intelligence, increasingly complicated relationships between world powers and prospects of another potential Donald Trump administration. We’ll outline the results of some of these meetings. But first, how are consumers feeling? A lot of it has to do with how they’re doing relative to inflation.
19-1-2024 • 7 minuten, 5 seconden
When cold weather and EVs don’t mix
With much of the country frozen right now, some EV owners are going through their first frigid winter and finding that their cars don’t like the cold either. Turns out, EVs tend to lose range and take longer to charge when it’s colder outside. We’ll examine. Plus, Congress approves their third stopgap funding measure in four months, and we look at the factors that could keep a lid on home prices.
19-1-2024 • 6 minuten, 35 seconden
Indian workers brave the Middle East conflict for jobs
From the BBC World Service: In northern India, thousands are lining up for jobs in Israel due to a labor shortage caused by the war with Hamas. Plus, Spanish streaming star David Cánovas, known as TheGrefg, is embroiled in a legal battle with an 80-year-old woman he is trying to evict. And then Mark Knopfler from Dire Straits who’s selling most of his collection at auction later this month.
19-1-2024 • 7 minuten, 13 seconden
Corporate dealmaking is “in” for 2024
Globally, the total value of mergers and acquisitions last year was the lowest since in a decade, held back by interest rates, a volatile stock market and a strict regulatory environment. The corporate dealmaking could rebound this year, though. We’ll also paint a picture of our economic moment with a slew of recent data. Plus, could passwords be a thing of the past?
18-1-2024 • 8 minuten, 53 seconden
What’s behind the brunch boom?
Breakfast — and its more formal cousin, brunch — is “in” for 2024. Consumers like that they’re able to spend less money than they would on a dinner out while still feeling like they’re treating themselves. Meanwhile, restaurants love the profit margins. Also on this morning’s show: flipping through the pages of the Beige Book and analyzing the average workweek in China.
18-1-2024 • 7 minuten, 32 seconden
A rare corruption scandal hits Singapore
From the BBC World Service: Singapore’s transport minister has resigned after facing multiple charges of corruption; it’s alleged he took kickbacks worth hundreds of thousands of dollars, something he denies. Also, passwords could soon be a thing of the past as companies like Google introduce “passkeys” as a default login for online users. But with the rise of deepfake technology, is any method of verifying our identities completely secure?
18-1-2024 • 7 minuten, 28 seconden
JetBlue and Spirit’s merger is not cleared for takeoff
A federal judge has blocked JetBlue’s efforts to purchase Spirit Airlines. The Justice Department had filed an antitrust lawsuit, saying the merger would eliminate a low-cost carrier that has been keeping airfares down. Also on the show: We all spent a lot in December, the market for super shoes is running hot, and China’s economic recovery looks shaky.
17-1-2024 • 7 minuten, 55 seconden
Bank fees, Apple fees and shipping fees
Many of the nation’s largest banks have reported mixed results recently. Banks often turn to fees – including overdraft charges – to help boost their bottom lines. But a Biden administration rule announced Wednesday would reduce those fees and save consumers billions a year. Then, Apple is making changes to its App Store but will still charge a hefty commission. And shipping rates have soared following continued Red Sea attacks.
17-1-2024 • 6 minuten, 40 seconden
China’s population declines for second straight year
From the BBC World Service: Data released on Wednesday showed that China had a population of 1.4 billion at the end of 2023 — a 2.08 million decrease from 2022. The decline underscores concerns about the future growth of the world’s second largest economy. Then, the U.K.’s Post Office scandal rumbles on, and pricey, high-tech sneakers for runners becomes a big business.
17-1-2024 • 6 minuten, 22 seconden
How pizza can explain proposed bank capital regulation
Today is the deadline for comments on a proposed rule to increase capital requirements for large banks. It can be useful to think of the money a bank uses to fund its business as a pizza — some slices are equity, others are debt, and others are unknowns. We’ll dish up that analogy. Sticking with the food theme: Mexican food is increasingly popular with young Americans, and one in 10 eateries serves it.
16-1-2024 • 7 minuten, 11 seconden
A look at what’s on the docket at Davos 2024
Today is the first full day of the World Economic Forum in Davos, Switzerland. Among the challenges to be discussed are artificial intelligence, the wars in Ukraine and Gaza, election integrity and the climate crisis. We’ll hear more about what to expect from the meeting of global leaders. Then, Lebanon is projected to slide back into recession as its tourism industry feels the economic shock of the Israel-Hamas war.
16-1-2024 • 7 minuten, 5 seconden
Google pulls crypto exchanges from Play Store in India
From the BBC World Service: Google Play Store has pulled some major crypto exchanges, including Binance and Kraken, in India. The move comes two weeks after India’s financial watchdog said the platforms were operating “illegally” there. Also on the program: A U.S.-owned cargo ship survives a Houthi rebels missile attack, and Lebanon’s economy is hit hard by the war in Gaza
16-1-2024 • 7 minuten, 19 seconden
Polls are facing labor shortages too
Roughly 1 million people volunteer to work at polls during presidential elections, but recruiting enough poll workers remains a perennial challenge. Those staff shortages can add to wait times at the polls, which, in turn, can depress voter turnout. Now, as many poll workers grow older and end their service, advocacy groups are pushing for young people to step up. Also: Who says college is just for the young?
15-1-2024 • 7 minuten, 38 seconden
The state of the unions
In 1968, Martin Luther King Jr. was assassinated after speaking with striking sanitation workers in Memphis. Strikes have gotten more rare in the decades following King’s murder, but data from Cornell University shows that the number of strikes have been picking up over the last two years. What does that momentum mean for the year ahead? And later, the tide may be turning against noncompete agreements.
15-1-2024 • 7 minuten, 21 seconden
AI could affect 40% of jobs
From the BBC World Service: The International Monetary Fund predicts that artificial intelligence is likely to cause disruptions for jobs across the globe — but it won’t have an even effect on workers and global economies. Then, two British brothers are on trial in Switzerland for stealing Ming Dynasty porcelain worth nearly $3.7 million. And the soccer tournament, the Africa Cup of Nations, has kicked off in the Ivory Coast.
15-1-2024 • 7 minuten
California is facing a budget mess. It’s not alone.
California, home of the fifth largest economy in the world, has a budget deficit of between $38 billion and $68 billion, depending on the estimate. But even with the economy doing pretty well across the country, other states have budget woes as well, many of which were papered over by federal pandemic aid. Also on the program: a look at falling wholesale prices and increased oversight of Boeing.
12-1-2024 • 6 minuten, 45 seconden
How far will an additional $40 a month go?
A new Summer EBT program that provides an extra $40 per month per kid per month will feed millions of children over summer vacation. But with grocery prices high and still rising, that money can only go so far. Also on the show: The shockwaves of war in the Middle East expand, and the economy remains on the minds of Taiwanese voters.
12-1-2024 • 6 minuten, 51 seconden
Tesla puts the brakes on German production over Red Sea attacks
From the BBC World Service: Tesla is suspending manufacturing at its only European electric car factory as attacks in the Red Sea disrupt supplies. The company said longer delivery times created a gap in its supply chains as shipping companies avoid the route. And as Taiwan prepares to go the polls, its tense relationship with Beijing dominates campaigns — yet for many residents, the economy is among the biggest issues.
12-1-2024 • 7 minuten, 14 seconden
Cutting through the noise of today’s inflation report
Overall inflation ticked up to 3.4% year over year in December, which is higher than November’s inflation rate. But, if you take out food and energy prices (which are notoriously volatile), inflation actually slowed down slightly. We look at how to slice today’s inflation report. Then, wage growth has been slowing, an IRS watchdog report shows mixed grades, and the SEC approves a bitcoin ETF.
11-1-2024 • 8 minuten, 1 seconde
How flight attendants are feeling after the Alaska Airlines accident
The fallout continues from the Alaska Airlines accident last week. More airlines are cancelling Boeing 737 Max 9 flights, but it’s also affecting the first responders involved: flight attendants. We speak with Sara Nelson, international president of the Association of Flight Attendants-CWA, about flight attendants’ main concerns and the pandemic-era strains on flight crews that still persist. Plus, OpenAI is in content licensing deal talks with major news organizations.
11-1-2024 • 6 minuten, 51 seconden
Hundreds wrongly convicted in one of the U.K.’s biggest miscarriages of justice
From the BBC World Service: It’s taken a TV series to move the United Kingdom’s government into action over a scandal at the state-owned Post Office. Hundreds of workers were wrongly convicted of theft and fraud, when the real problem was faulty software from a system known as Horizon. Also: Taiwan votes this weekend in a presidential election. The consequences for Asia’s eighth largest economy could be dramatic.
11-1-2024 • 7 minuten, 2 seconden
The auto industry is front and center at CES 2024
The annual electronics showcase event CES is underway in Las Vegas, and it features one of the world’s biggest car shows. While the three largest U.S. automakers do not have displays, Big Tech companies are looking to make their mark as up-and-coming auto suppliers. We’ll also examine the risks AI misinformation poses to the global economy and hear how Puerto Rico intends to its lower dependence on imported foods.
To hear more about the latest tech on display at CES, check out “Marketplace Tech.”
10-1-2024 • 6 minuten, 38 seconden
In 2024, it might just be “the U.S. vs. itself”
There are a lot of pressing risks around the globe this year. What poses the biggest risk? According to an annual report from political risk consultancy Eurasia Group, the U.S. presidential election — expected to exacerbate political dysfunction — tops the list. (But don’t worry, we hear an upbeat prediction too.) Plus, are you an independent contractor or an employee? Regulators have a new litmus test.
10-1-2024 • 7 minuten, 38 seconden
Norway opens part of its seabed for mining
From the BBC World Service: Despite warnings of the possible environmental impact, Norway’s government has given the green light for companies to apply to extract precious minerals from the country’s seabed. Then, German railways have ground to a near halt in a three-day train drivers strike. And later: an examination of Puerto Rico’s food revolution.
10-1-2024 • 7 minuten, 5 seconden
“More people are carrying more debt for longer”
Consumer credit jumped a whopping $23.7 billion in November, according to the Federal Reserve. That continues a trend of households struggling with high and rising prices, which is leading to a surge in debt and delinquencies. And it’s putting additional strain on families, especially lower-income ones. We’ll also preview what the December CPI might look like and hear why the song “Murder on the Dancefloor” is killing it right now.
9-1-2024 • 8 minuten, 43 seconden
German farmers blockade Berlin with tractors
From the BBC World Service: Farmers in Germany are blockading roads in protest of subsidy cuts, with more than 500 tractors and trucks parked by Berlin’s Brandenburg Gate. Then, funding England’s student loans system is expected to cost the U.K. government an extra $12.5 billion a year. And “Murder on the Dancefloor” is near the top of the charts for the first time in two decades thanks to the movie “Saltburn.”
9-1-2024 • 6 minuten, 53 seconden
Boeing’s latest accident might not ground business
Investigators are still looking into why a piece of a Boeing aircraft blew off an Alaska Airlines flight over the weekend. It’s the latest issue with 737 Max planes, including an aircraft grounding following two crashes several years ago. Thing is, plane orders take years and there are few manufacturing competitors — meaning Boeing may not lose much businesses. And later: how Germany’s budget cuts helped spawn a major protest by farmers.
9-1-2024 • 6 minuten, 37 seconden
Grumpy, grouchy and cranky
No, we’re not talking about three of Snow White’s seven dwarfs — we’re talking about the mood of the American consumer. Despite low levels of unemployment, solid GDP growth and cooling inflation, Americans remain pretty darn sour on the economy. What gives? Plus, China is sanctioning five American defense contractors, and a massive new train line in Mexico is stirring controversy among environmentalists.
8-1-2024 • 6 minuten, 55 seconden
What needs to happen before we see interest rate cuts
Many on Wall Street expect the Federal Reserve to start cutting interest rates in March, but a lot is riding on these first few months of the year. We’ll check in with Richmond Fed President Tom Barkin about potential risks to a soft landing. Also on the program: device-makers hope to attract consumer dollars at CES, and California expands state health care to include low-income undocumented immigrants.
8-1-2024 • 7 minuten, 11 seconden
China clamps down on weapons sales to Taiwan
From the BBC World Service: China has announced sanctions against five American arms manufacturers over weapons sales to Taiwan.The move comes just ahead of this weekend’s Taiwanese elections. Also, trains are starting to run on Mexico’s new multibillion-dollar train network, known as Tren Maya. It’s projected to bring 2 million more tourists a year to the impoverished Yucatan Peninsula, but critics say it’s an environmental catastrophe.
8-1-2024 • 6 minuten, 41 seconden
Happy jobs day to all who celebrate!
Turns out, businesses kept on hiring in spite of predictions. The Labor Department reports that 216,000 new jobs were added in December, and the unemployment rate held steady at 3.7%. We’ll look at longer-term trends and parse out which sectors saw hiring booms. Then, gadget-makers head to CES in Las Vegas. We’ll preview what to expect. And later, Texas is revamps how it funds community colleges.
5-1-2024 • 7 minuten, 9 seconden
What should reparations look like?
Lawmakers in California are gearing up to debate reparations for slavery. But if reparations are politically unviable, what’s the next best thing? In part three of our Golden Promises series, we’ll unpack alternatives, including ones that could help address racial disparities in education, housing, health care and credit scores. Also on the show, the cost of borrowing for a home has gone down sharply.
5-1-2024 • 7 minuten, 10 seconden
Carrefour to halt Pepsi sales over price hikes
From the BBC World Service: Grocery giant Carrefour will stop selling Pepsi products in France, citing “unacceptable price increases.” Then, ground staff at the Spanish airline Iberia are staging a four-day strike after the collapse of talks between unions and the company. And Elvis lives! At least an AI-powered hologram version does, as a new London show promises an immersive experience through the life of the music legend.
5-1-2024 • 6 minuten, 51 seconden
Putting all this job data together
Private-sector hiring was stronger than expected in December, according to ADP, and we learned yesterday that there were slightly fewer job openings nationwide in November. But the official government jobs report for December doesn’t come out until tomorrow. What can we expect and what should we make of it all? Also on the show: More consumers opted for cars that are cheaper to buy and operate, and young people in China grapple with a high unemployment rate.
4-1-2024 • 7 minuten, 39 seconden
As California mulls reparations, who should be eligible?
A bill in the California Legislature would create a first-of-its-kind agency in charge of administering economic reparations for slavery, which could be voted on this year. Recommendations start “with those folks who are clearly descendants of 250 years of wage theft in this country,” said Sen. Steven Bradford, who introduced the legislation. Also, some shipping rates have more than doubled for routes in the Red Sea.
4-1-2024 • 7 minuten, 12 seconden
Radical reforms in Argentina derailed by judges
From the BBC World Service: Argentina’s new president, Javier Milei, is trying to introduce a radical financial agenda but has been met with wide-scale protests. Now courts have blocked changes to labor laws. Then, a joint statement has warned Houthi rebels in Yemen against carrying out further attacks in the Red Sea. And millions of young people in China are struggling to find a job.
4-1-2024 • 8 minuten, 7 seconden
An “optimistically cautious” forecast for the year ahead
Economic forecasts for the coming year are decently optimistic, painting a picture of fairly low unemployment, gradually slowing inflation and continued economic growth. But there are still risks to this mostly sunny outlook — some that are global and some coming from D.C. Plus, soft landing or not, the Richmond Fed president advises us to buckle up. Oh, and Happy Dry January!
3-1-2024 • 7 minuten, 3 seconden
What might reparations look like? California could find out.
After a California task force issued an 1,100-page report last summer, lawmakers there are starting to look at policy options to compensate Black residents descended from enslaved ancestors. Now, a state reparations bill could be voted on this year. As part of a three-part series, we’re chronicling the history, details and challenges of California’s reparations movement. But first, markets start 2024 with a course reversal.
3-1-2024 • 7 minuten, 14 seconden
More vessels avoid the Red Sea
From the BBC World Service: One in five major commercial ships is now avoiding the Red Sea because of the threat of attack, according to the head of the International Chamber of Shipping. Tesla has been toppled off its top slot as the global leader of electric car sales by Chinese rival BYD. And a cuckoo clock museum in the U.K. is looking for a someone to take the reins.
3-1-2024 • 6 minuten, 49 seconden
Afghan women grapple with the Taliban’s university ban, one year on
The Taliban banned women from attending universities in Afghanistan in December 2022, a move that the World Bank warns will hinder the country’s prospects for economic growth. We’ll hear from three women who share how the lack of educational opportunities has affected their lives. Plus, the stock market opens for the year. And later: What we can expect from video games and rapidly evolving AI in 2024?
2-1-2024 • 7 minuten, 28 seconden
Japan Airlines plane bursts into flames at Tokyo airport
From the BBC World Service: A plane carrying nearly 400 passengers caught fire while landing at Haneda Airport in Tokyo; everyone aboard the passenger aircraft successfully evacuated after a collision with coast guard plane. We bring you the latest developments. Also on the show: a Hong Kong mogul pleads not guilty to national security crimes, the Czech president calls for euro adoption, and a look ahead to the year in tech.
2-1-2024 • 6 minuten, 56 seconden
Expect drug price hikes this month
While people on Medicare are increasingly shielded from rising drug prices, that’s not the case for everyone else. And drugmakers plan to raise prices on more than 500 drugs in January. We dig in. Plus, millions of Americans will be getting pay bumps in the new year, and the IRS is trying out a free online tax-filing system that cuts out vendors.
2-1-2024 • 7 minuten, 18 seconden
What a difference a year makes
Expectations for 2023’s economy were rather sour — and what delivered blew predictions out of the water. But what are economists anticipating for the year ahead? Plenty of high hopes, including predictions of a rising S&P 500 index, falling inflation, lower interest rates and an economy that is slowing but resilient. And later: Could the state of the U.S. and China’s economies be a chance for thawing economic relations?
1-1-2024 • 7 minuten, 17 seconden
Checking our economic crystal ball for 2024
It’s the time of year for round-ups and look-aheads, and today we’re focusing on what the new year could hold for the U.S. economy — from interest rates to recession risks and everything in between. We’ll check in with some economists for their predictions. Then, we’ll assess what the relationship between the U.S. and China could look like in 2024.
1-1-2024 • 7 minuten, 56 seconden
What will 2024 bring for U.S.-China relations?
From the BBC World Service: It’s a new year, but what will it mean for old rivalries? The relationship between the world’s largest economies — the United States and China — dominated the news agenda in 2023. We take a look at those ups and downs and see where the relationship could lead global politics and economics this year.
1-1-2024 • 8 minuten, 29 seconden
One word to sum up D.C. news this year? Drama
Think of it as a soap opera, only broadcast on C-SPAN. We’re recapping the top political and economic headlines that came out of the nation’s capital in 2023 — from the House speaker fight, to the debt ceiling debates and the showdown over a government shutdown. We’ll also forecast D.C.’s biggest stories in the year ahead. Plus, Greyhound closes bus stations, and Google settles a class-action lawsuit.
29-12-2023 • 8 minuten, 3 seconden
A year of gains and highs on Wall Street
In late 2022, stock market forecasters predicted that the S&P 500 would close the year up by about 6%. Surprise! The S&P is up 25% year to date, while the NASDAQ is up 45%. But can the market rally be sustained? Also in this episode: Google settles a lawsuit alleging its private browsing mode isn’t so private after all, and ABBA is still making “Money, Money, Money.”
29-12-2023 • 8 minuten, 21 seconden
Venezuela on high alert
From the BBC World Service: Venezuelan President Nicolas Maduro has ordered his military to conduct exercises along the country’s coast — the latest action in the dispute with Guyana over oil-rich territory in the region. Then, Argentina’s main labor union has called for a general strike against President Javier Milei’s sweeping economic reform proposals. And a show by ABBA is estimated to have contributed more than $420 million to London’s economy in its first year.
29-12-2023 • 7 minuten, 54 seconden
What’s your financial New Year’s resolution?
Many folks start the new year with resolutions around diet and exercise — and finances too. But when it comes to saving and spending, how can we get those changes in behavior to stick? And how can we be kinder to ourselves regardless of whether we meet those goals? Plus, we take a look at the year’s last military aid package for Ukraine and what’s been one of the strongest economies in decades.
28-12-2023 • 8 minuten, 18 seconden
Apple Watch sales will resume … for now
A federal agency ordered Apple to stop the sale of some Apple Watches right before Christmas because of a patent dispute over health monitoring systems. But now, a federal appeals court has temporarily paused the ban on smartwatch sales and imports. We’ll hear about the latest developments in that saga. And later in the program: How does trauma shape our relationship with money?
28-12-2023 • 8 minuten, 20 seconden
Major shipping companies return to the Red Sea
From the BBC World Service: France’s CMA CGM and Denmark’s Maersk are returning to the shipping route after recent ship attacks by Houthi rebels based in Yemen. Then, we remember the remarkable life of Jacques Delors, the former head of the European Commission and the man who oversaw the creation of the European single market. And in the U.S., there are signs that some workers are resorting to performance-enhancing drugs to improve their output.
28-12-2023 • 8 minuten, 1 seconde
Hey, that’s stealing!
The New York Times is suing OpenAI and Microsoft for using its content to train artificial intelligence chatbots. The software will even recite Times content verbatim when responding to user query, according to the lawsuit. Also in this episode, some market predictions ahead of 2024 and a look at artificial intelligence in agricultural practices from our partners at the BBC.
27-12-2023 • 7 minuten, 31 seconden
The top stuff of 2023
What tangible things defined your year? Rob Walker wrote a list of the culture-defining physical stuff of 2023 for Fast Company. We’ll talk to him about some contenders, from Barbies to protest signs. Plus, how to measure Congressional productivity and why an international shipping company is pausing routes through the Red Sea.
27-12-2023 • 8 minuten, 8 seconden
Why are shipping companies reconsidering the Red Sea?
From the BBC World Service: One of the world’s biggest shipping companies says it’s still too dangerous to send its ships back through the Red Sea. Japanese car maker, Daihatsu, says it’s suspending operations at all four of its Japanese manufacturing plants after a major safety scandal. Argentina’s new president, Javier Milei, has signed a decree cancelling the contracts of 7,000 public sector workers. And how can AI help agriculture? We visit a vineyard in Bangalore to find out how modern technology is boosting productivity.
27-12-2023 • 7 minuten, 16 seconden
U.S. regulators look to boost children’s online privacy
The Federal Trade Commission is considering limits on how and when Big Tech companies can turn children’s data into profit. The review of a 25-year-old law includes a crackdown on targeted advertising to children and limits to notifications aimed at keeping them online. Plus, we take a peek at the end-of-year financial markets. And later: what Ireland can teach us about worker productivity.
26-12-2023 • 7 minuten, 33 seconden
It’s use-it-or-lose-it time for your FSA dollars
If you have a flexible spending account through your health insurance, you have just a few days left to use up unspent money. More businesses are working to make their products FSA-eligible, and you may be able to spend that cash on gym memberships or even meal kit delivery. But first: An engine manufacturer gets slapped with a hefty fine, and Angola decides to exit OPEC.
26-12-2023 • 7 minuten, 16 seconden
Christmas Day is over … so let’s get productive!
From the BBC World Service: According to the Organisation for Economic Cooperation and Development, Ireland is the most productive country in the world, we’ll be looking at how it achieved that accolade. Meanwhile, Japan has a reputation for having a relentless work culture, but it’s consistently ranked lowest in employee productivity among the rich G7 nations. Is it time for Japanese companies to adapt?
26-12-2023 • 8 minuten, 28 seconden
A pulse check on holiday travel and holiday hiring
The holiday travel season is likely to be a busy one, with more people expected to travel domestically this year than in 2022. Meanwhile, drivers can expect to pay the same (or even a bit less) for a gallon of gas. And there’s zero days left to wrap up Christmas shopping — so what better time to take stock of how hiring for the holiday season has shaped up?
25-12-2023 • 7 minuten, 13 seconden
A Medicare mental health expansion
Come Jan. 1, hundreds of thousands of additional licensed mental health counselors and marriage and family therapists will be eligible to work with Medicare patients for the first time. This Christmas Day, we’ll take a look at what the expansion means for patients and providers. And later: Do you feel like your life has been taken over by the pings of social media notifications? Well, how about a detox?
25-12-2023 • 6 minuten, 47 seconden
Some of our favorite economic stories from 2023
From the BBC World Service: In a special festive episode, we’re taking a look back at some of the headlines and headline-makers that grabbed the attention of our production team in 2023. We’ll touch on everything from bank collapses to crypto’s wild ride, redesigned chocolate bar packaging, and one of the biggest stories of the year: the murky and rapidly-changing world of artificial intelligence.
25-12-2023 • 8 minuten, 29 seconden
Need some motivation to cancel that subscription?
The New York State Attorney General is suing SiriusXM, saying the satellite radio company makes the cancellation process long and difficult. But there are plenty of companies that make it hard for customers to get out of subscriptions, so we rounded up some advice on how to get through it. Also: A monthly drop in inflation in November and “serious scrutiny” for the purchase of U.S. Steel.
22-12-2023 • 8 minuten, 43 seconden
Why Cuba has lost 4% of its population in the last two years
Cubans are fleeing their country in droves, with nearly 400,000 coming to the U.S. in the past two years. The wave has a lot to do with the deteriorating economic situation there, as the economy struggling to bounce back to pre-pandemic levels. We examine the exodus. But first, we’ll get new home sales data this morning, so let’s check in on housing and mortgage rates.
22-12-2023 • 7 minuten
Critical hit for China’s online gaming industry
From the BBC World Service: New rules limiting in-game purchases have wiped nearly $80 billion in market value from China’s two biggest gaming companies. The move is an attempt to curb what officials see as growing trend of online gaming addiction. We analyze the blow to the industry. Later: How can you be more green this holiday season?
22-12-2023 • 7 minuten, 26 seconden
Wanna be a homeowner? It’ll cost ya.
The costs that go with owning a home — including mortgage payments, insurance and taxes — now eat up about 34% of the average wage nationwide, according to a report out today. That’s more than many lenders advise and comes as a wave of millennials and Gen Zers look toward homeownership. Also on the show: Apple watches, consumer confidence, and Turkey’s painfully interest rates.
21-12-2023 • 8 minuten, 42 seconden
Can sharks survive this?
Sharks have been around for millions of years, but their population has dropped by 70% in the past 50 years. That’s mostly been driven by the value of their fins, which are considered a delicacy and status symbol in parts of Asia. Today, we’ll hear how demand for the fins has driven a network of illicit trafficking. Plus, new cars see big gains in fuel efficiency.
From the BBC World Service: Residents of Argentina’s capital Buenos Aires are pushing back on the plans of the recently-elected President Javier Milei. And in Turkey, people are facing dual pressures of high inflation and interest rates. Plus, why are standing ovations becoming more common in British theaters?
21-12-2023 • 7 minuten, 7 seconden
Around $1 billion in IRS penalties waived
With the new year, the IRS will resume sending reminder letters to taxpayers with old debts to the federal government, which were paused during the pandemic. But to avoid causing sticker shock when people receive reminders, the IRS is waiving the penalties it usually charges for back taxes. We dig in. And later, a boost in U.S. oil production spoils OPEC’s effort to prop up prices.
20-12-2023 • 7 minuten, 32 seconden
How the candy cane gets made
What can a beloved, sugary holiday treat teach us about trade protectionism, overseas farm subsidies, inflation and inelastic demand? Turns out, quite a bit. Today, we trace how sugarcane from Louisiana becomes a hand-spun, red-and-white-striped delight at a New Jersey candy shop — and learn a thing or two about economics along the way. But first: The Senate leaves for a holiday recess without any approved aid for Ukraine or Israel.
20-12-2023 • 7 minuten, 25 seconden
Airbnb fined for its dollar dilemma down under
From the BBC World Service: Airbnb has been ordered to pay up to $20 million in fines and compensation after misleading customers in Australia. Some bookings there were listed in U.S. dollars rather than Australian dollars, making them look cheaper than they actually were. Plus, we look at the delisting of Toshiba in Japan. And later: Inflation can even affect candy canes.
20-12-2023 • 7 minuten, 30 seconden
It may seem like an obvious answer
What’s one of the best ways to ease the affordable housing crisis? Build more places to live. Construction of new homes rose 15% in November, which coincides with a dip in mortgage rates. We’ll examine what these new homes could mean for still-strong housing demand. Then, we’ll hear about disruptions to ships and ports in the Red Sea and check the pulse of Germany’s economy.
19-12-2023 • 7 minuten, 23 seconden
How to get compensated for future Southwest Airlines delays
Southwest Airlines is being fined $140 million by the U.S. Department of Transportation after last year’s holiday travel meltdown. But the majority of that money will go toward compensating future Southwest customers who arrive at their destination three or more hours late — if the issues were caused by something under the airline’s control. Plus, one state put a price tag on untreated mental illness. The costs were staggering.
19-12-2023 • 7 minuten, 21 seconden
Red Sea strikes ignite oil price fears
From the BBC World Service: Analysts are warning that oil prices will rise as companies stop transporting fuel and goods in the Red Sea following attacks on commercial ships. Then, the European Union and the U.S. have agreed to temporarily stop imposing additional taxes on EU-made steel and aluminum, as well as various U.S.-made products. And for the first time, the Netherlands is growing cannabis legally.
19-12-2023 • 7 minuten, 1 seconde
A devastating delay for Ukraine
The Senate delayed its holiday recess for the first part of this week, as negotiators still try to reach a compromise on immigration. But also at stake is funding for Ukraine, which uses U.S. aid to pay for essential government services. Also in this episode: A Japanese company has agreed to acquire U.S. Steel, and Afghan refugees have been arriving at the U.S.-Mexico border in record numbers.
18-12-2023 • 11 minuten, 19 seconden
Taking Uber to the S&P 500
After posting its first profitable quarter this year, ride-hailing and food delivery company Uber joins the S&P 500 stock index today. We take a look at the company’s 14-year ride so far and hear what lies on the road ahead. Plus, shipping companies look to avoid the Red Sea amid missile attacks. What are the alternatives? And as wage gains stall, inflation continues to take a bite.
18-12-2023 • 7 minuten, 37 seconden
Militant attacks threaten shipping in the Red Sea
From the BBC World Service: Two major shipping companies are avoiding the Suez Canal as Houthi militants in Yemen step up their assaults on commercial vessels in the Red Sea. Then, a veteran Hong Kong pro-democracy campaigner goes on trial. And later: When the Taliban captured Kabul, tens of thousands of Afghans were evacuated to the U.S. Now, many left behind are taking a riskier journey to the States.
18-12-2023 • 9 minuten, 12 seconden
A confuddling, confounding, confusing consumer
Consumer sentiment is down in the dumps, but consumer spending certainly doesn’t reflect that. We’ll examine the disconnect that’s causing some economists to scratch their heads. Plus, folks on Medicare will start seeing discounts on some meds in the new year, and affordable housing is being hammered by rising insurance rates. Also on the show: Could this stock market rally be a bubble?
15-12-2023 • 8 minuten, 51 seconden
Is it possible to get David Brancaccio to like holiday music?
For some, Paul McCartney’s “Wonderful Christmastime” is a source of merriment. For others? Bah humbug! If you’re a holiday music hater, then you’re like “Marketplace Morning Report” host David Brancaccio. Today, David is joined by two award-winning musicians and childhood friends who discuss artistry versus economics when it comes to holiday jingles — and try to inspire some holiday cheer. But first, mortgage rates dip under 7%.
15-12-2023 • 7 minuten, 6 seconden
Guyana and Venezuela agree not to “use force” in territorial dispute
From the BBC World Service: Guyana and Venezuela have agreed to settle the debate over rights for the oil-rich Essequibo region with diplomacy. Also, Hungary has blocked a $55 billion European Union aid package for Ukraine — but not talks over EU membership. And what’s it really like to travel on the first Berlin-Paris sleeper train in nearly a decade?
15-12-2023 • 7 minuten, 54 seconden
A holiday season stock rally
The Dow Jones Industrial Average hit a record high yesterday; the Nasdaq and S&P are up, as well. These jumps come after Federal Reserve officials hinted at interest rate cuts in the new year. Lower rates are good news for consumers spending more cautiously and companies that need to borrow to expand. Also on the show: gas prices dip, and a $100 billion city in Malaysia sits empty.
14-12-2023 • 6 minuten, 17 seconden
Maybe panic isn’t all bad
It makes sense that plenty aspects of our financial lives make us stressed, anxious and fearful — from stock market jitters to job changes or major purchases. In her newest book, journalist Farnoosh Torabi explores how to acknowledge those fears and gain a healthier relationship with your money and finances. We’ll chat with her. But first: What did Fed Chair Jerome Powell have to say about rate cuts in the upcoming year?
14-12-2023 • 6 minuten, 33 seconden
Will Hungary’s Orban block EU support for Ukraine?
From the BBC World Service: EU tensions increase over backing Ukraine both financially and politically, as Hungary’s Prime Minister Viktor Orban threatens to block aid to Ukraine. Also, the former boss of oil giant BP loses $40 million in pay over “serious misconduct.” Plus, as Chinese developer Country Garden cuts executive salaries to tackle debt, the country’s property crisis spreads beyond its borders.
14-12-2023 • 6 minuten, 35 seconden
The child care industry is rebounding — and at risk
The child care sector has recovered nearly all of the jobs it lost when the pandemic hit. Yet there are still major staffing shortages, and the end of federal pandemic funding could put the industry’s rebound in peril. Also on the program: early reactions to COP28 agreement and a look at how to utilize fear to move your career forward.
13-12-2023 • 7 minuten, 26 seconden
What Spotify Wrapped can reveal about the music industry
Both Spotify and Apple Music recently published their annual lists of the most listened to artists and songs. Unsurprisingly, Taylor Swift dominated. But delve deeper, and you can also start to see the influence of social media and strength of growing international audiences. Plus, as oil prices slide, COP28 comes to an agreement using the words “fossil fuel” for the first time ever.
13-12-2023 • 7 minuten, 29 seconden
COP28: Is it better to transition or phase out?
From the BBC World Service: After last minute horse-trading at the COP28 climate conference, 200 countries have agreed to a deal that calls for a transition away from fossil fuels for the first time. But critics argue it doesn’t go far enough. Meanwhile, Argentina’s new president Javier Milei is pressing ahead with his shock therapy plan for the economy, starting with a devaluation of the peso. And we also take a look at the economic problems at the top of the agenda in Egypt’s election.
13-12-2023 • 6 minuten, 57 seconden
Why it’s so hard to actually get U.S. visas and green cards
The immigration system in the U.S. has not been significantly updated in decades. Today, we examine what pathways look like for immigrants who want to work in the States and for the employers who want to hire them. Also on the show: Price increases seem to be settling in higher than the Federal Reserve wants, small business optimism ticks down in November, and the UAW goes after non-union automakers.
12-12-2023 • 9 minuten, 16 seconden
What the data says about immigration’s impact on the economy
Republicans in Congress want to tie aid to Ukraine and Israel with immigration reform, and time is running out to make a deal. Immigration is a topic fraught with emotion, but we decided to take a look at immigration through the lens of economics. What does the evidence show about the costs and benefits of immigration? What about it’s effect on wages and jobs? Plus, Google loses an antitrust case against Epic Games.
12-12-2023 • 6 minuten, 55 seconden
Will COP28 talks end with a deal?
From the BBC World Service: The UN climate change talks in Dubai are reaching their final phase, but because the nations can’t agree on a draft deal to phase out fossil fuels, the conference has gone into overtime. Some countries unhappy with the draft language are small island nations like Tuvalu. We take a closer look. Plus, Poland’s right-wing party is out of power after eight years.
12-12-2023 • 7 minuten, 32 seconden
Disagreement over fossil fuels at COP28
The latest U.N. climate conference is nearing an end with countries clashing over the reduction of fossil fuel use. Oil-producing countries led by Saudi Arabia are resisting that idea. With just one more day of negotiations left at COP28, we hear about what commitments have already been made and what remains unresolved. Also: What can we expect from interest rate cutes in the New Year?
11-12-2023 • 8 minuten, 41 seconden
When investing in workers means investing in child care
While affordable, accessible child care can help support a strong workforce, it can often be hard to find. As more companies may look to recruit and retain workers by offering child care plans — thanks in part by requirements tied to CHIPS Act funding — we hear how such an investment is playing out at one plant in Tennessee. Plus, what does strong consumer sentiment mean for the Federal Reserve’s last meeting of the year?
11-12-2023 • 8 minuten, 7 seconden
Argentina’s president promises economic “shock treatment”
From the BBC World Service: Javier Milei has been sworn in as president of Argentina and promised radical changes for the country. Also on the show: TikTok has announced an investment in Indonesian online shopping, and Swedish businesses are worried that a rise in gang violence could damage the country’s global image.
11-12-2023 • 6 minuten, 52 seconden
It’s hard to survive the 2023 housing market
While mortgage rates have been on the decline recently, this year has been, on average, the least affordable time to buy a home since the housing site Redfin started crunching the numbers 11 years ago. That’s on top of already sky high prices and limited housing inventory. Plus: a labor market in a healthy place, a strike at shipping company DHL and a beloved Korean street food.
8-12-2023 • 8 minuten, 15 seconden
Does being richer make you more self-interested?
As part of this month’s Econ Extra Credit series, we’ll look at a study about how likely drivers were to stop for a pedestrian waiting at a crosswalk. Turns out, the nicer the car, the less likely it was to stop. What can we learn about how wealth — or the lack of it — impacts our behavior? We’ll also check on the status of big passenger railway upgrades throughout the U.S.
8-12-2023 • 7 minuten, 6 seconden
Finnish unions join actions against Tesla
From the BBC World Service: In a widening regional labor challenge for Tesla, the Finnish Transport Workers Union has joined an ongoing dispute in support of Tesla employees in Sweden. Plus, in a left-field move, Chanel has chosen the streets of British industrial city Manchester to host a catwalk show. Then, Korea’s cultural exports, or K-content, is worth $12 billion. The latest trend? The K-dog.
8-12-2023 • 6 minuten, 56 seconden
A falling mortgage rate makes a difference
Average mortgage rates have fallen to their lowest levels since August, cooling from nearly 8% to around 7%. While that may be more manageable for prospective homebuyers, rates are still significantly higher than they’ve been in decades. What will this mean for home sales and refinancing? Plus, EV tax credits are getting complicated, and we hear about the olive oil crisis playing out in Spain.
7-12-2023 • 7 minuten, 15 seconden
What does the new SAG contract say about AI use?
Members of SAG-AFTRA voted to ratify a contract with Hollywood studios following the recent months-long actors strike. A major concern for voting members was how and when artificial intelligence could be used. While actors won some protections regarding AI usage, some still feel the deal fell short. We’ll also hear about a ban on Russian diamond imports and examine claims of organized theft at stores.
7-12-2023 • 7 minuten, 17 seconden
Italy withdraws from China’s Belt and Road Initiative
From the BBC World Service: Italian Prime Minister Giorgia Meloni’s administration is pulling out of China’s flagship Belt and Road Initiative, the massive infrastructure and trade project. This is leading to fears that Italy’s $20 billion export market into China could be threatened. Plus, G7 countries look to sanction Russian diamonds. Then, in Spain, a poor harvest is causing a shortage of olive oil and pushing prices up.
7-12-2023 • 9 minuten, 10 seconden
At the intersection of politics and public health
The Biden administration may be delaying a long-discussed ban on menthol cigarettes, which have been heavily marketed in Black communities. Banning them in an election year could be politically fraught for President Biden, whose 2020 campaign hinged on the support of Black voters. Also on the show: changes in the subscription economy, slower job growth and what 360% inflation feels like in Venezuela.
6-12-2023 • 8 minuten, 57 seconden
What to expect from HUD’s annual homelessness count
HUD is expected to release its annual Point-In-Time homelessness count later this month. High housing costs, an influx of asylum seekers and an end to COVID relief funds have strained resources aimed at serving the unhoused over the past year. What can we expect from the survey? We’ll also hear how banks are grappling with higher interest rates and stricter proposed rules, and we take a bite out of McDonald’s new concept restaurant, CosMc’s.
6-12-2023 • 7 minuten, 47 seconden
Cloud wars: Amazon and Google tackle Microsoft
From the BBC World Service: In the United Kingdom, Amazon and Google have called out Microsoft’s cloud computing practices, alleging that the tech giant is restricting customer options. The multi-billion dollar sector is being investigated by the U.K.’s anti-trust authority. Plus, Vladimir Putin heads to the Middle East. And, amid rising tensions with an oil-rich neighbor, how is Venezuela’s economy faring?
6-12-2023 • 7 minuten, 32 seconden
It pays to play on as you age
From the Rolling Stones to Bonnie Raitt and Dolly Parton, there are plenty of septuagenarians creating new, quality works. These performers are redefining “oldies but goodies,” but what can they teach us about prospects for an economy with an aging population? We rock out a bit, then discuss. Also on the show: Sweden’s Ericsson sees a win over Finland’s Nokia, and Moody’s issues a negative outlook for China’s government debt.
5-12-2023 • 8 minuten, 24 seconden
A case that could overhaul the income tax system as we know it
A tax case over $15,000 that could rewrite the U.S. tax code goes before the Supreme Court today. We’ll parse the arguments, politics and implications of it all, including what a ruling could mean for a potential wealth tax. Then, we’ll hear how Chinese property giant Evergrande avoided liquidation this week and what Mark Cuban’s sale of the Dallas Mavericks could mean for gambling in Texas.
5-12-2023 • 7 minuten, 24 seconden
Ratings agency changes China credit outlook to negative
From the BBC World Service: Moody’s, the rating agency, has changed China’s government credit outlook from stable to negative due to debt fears and lower growth forecasts. And, one year on, have sanctions from the European Union and G7 stop oil money flowing to Russia? Then, a former Tesla employee says he believes the company’s self-driving tech isn’t fit for public roads.
5-12-2023 • 6 minuten, 53 seconden
The hottest holiday shopping trend? Buy now, pay later
The use of buy now, pay later services hit an all-time high this past Cyber Monday. Consumers spent $940 million online using BNPL, which they’ve continued coming back to as high inflation and credit card interest rates strain budgets. We dig into the risks these services carry. Plus, we hear about the latest rounds of layoffs at Spotify and some of the hurdles to HIV-prevention medication uptake.
4-12-2023 • 9 minuten, 5 seconden
Hillary Clinton says it’s time for insurance reform
As the global climate change summit COP28 continues, former Secretary of State Hillary Clinton is calling for changes to how properties are insured in the face of climate change. Insurers are already pulling out in parts of California and Florida, but what exactly would reforms to the industry look like? Then, Venezuela votes to claim part of oil-rich Guyana, and self-driving cars face quite a number of roadblocks.
4-12-2023 • 8 minuten, 23 seconden
Why Spotify is laying off staff — again
From the BBC World Service: In its third round of job layoffs this year, Swedish music-streaming giant Spotify says it’s cutting 1,500 jobs, or 17% of its workforce. Plus, we look at why the president of COP28 is in hot water over his comments on the science of reducing global heating. And in the United Kingdom, there’s a black market for so-called “skinny jabs” — knock-off versions of weight loss drugs.
4-12-2023 • 8 minuten
The economics behind farewell tours
The band Kiss will play what it’s calling its last ever show this weekend in New York City. Thing is, the band has said farewell before — on a tour more than 20 years ago. Turns out, saying (or kissing) goodbye is a big business. Also on the show: Meta’s lawsuit against the FTC, a big month for bonds and a fund for climate change impacts.
1-12-2023 • 8 minuten, 36 seconden
What Fed officials are thinking — and saying
Federal Reserve Chair Jerome Powell speaks later today, after other Fed officials have been particularly chatty. This is before a quiet period that precedes the next meeting on interest rates this month. What sort of economic portrait have they been painting? Then, OPEC+ essentially maintains the status quo and we look at some of the barriers to accessing and affording HIV-prevention medication PrEP.
1-12-2023 • 8 minuten, 49 seconden
Germany’s economy got a break, but maybe not the kind it’s looking for
From the BBC World Service: Germany is looking at an $18 billion gap in next year’s budget because of a court decision last week on a German fiscal rule known as the debt brake. Then, Brazil says it’s deploying military reinforcements to its northern border, as tensions rise between its neighbors Venezuela and Guyana over a disputed oil-rich region. And later: a look at the big business of advent calendars.
1-12-2023 • 8 minuten, 34 seconden
EVs are having a reliability problem
Consumer Reports is out with a survey finding that EV owners had roughly 80% more problems than owners of conventional vehicles. Key problems included issues with charging and batteries. To the start the show, we parse out findings of the report. Then, chief marketers worry about the prospects of a recession (yet again) and music service Mdundo eyes growth in Africa.
30-11-2023 • 8 minuten, 32 seconden
How holiday advertising is different this year
We’re in the thick of holiday shopping season. But as companies compete for consumer dollars and distinguish themselves through advertising, they’re taking inflation into account and trying to play to customer emotions. Plus, X’s Elon Musk has some choice words for boycotting advertisers, and celebrities face potential liabilities when promoting financial investments.
30-11-2023 • 7 minuten, 55 seconden
Can you be the president of a climate summit and the boss of a state oil company?
From the BBC World Service: The appointment of the COP28 summit’s president, Sultan Ahmed Al-Jaber, has been controversial, as he’s also the CEO of Abu Dhabi’s state oil company. We take a closer examination. Then, the European Commissioner for Competition, who has taken on tech giants like Alphabet and Amazon, speaks to us about AI regulation. And as African music has gained global popularity in recent years, Kenya-based music service Mdundo aims to double its 25 million monthly users.
30-11-2023 • 8 minuten, 24 seconden
The Munger, the myth, the legend
Charlie Munger, business partner to Warren Buffett and vice chairman of Berkshire Hathaway, died on Tuesday at the age of 99. Today, we look back at the wisdom and humor of the Oracle of Omaha’s right-hand man. Plus, the U.S. economy grew faster than we thought, and China makes a bet on green energy. Also: a refresher on campaign finances rules.
29-11-2023 • 9 minuten, 4 seconden
One year on, how has ChatGPT changed the way we work?
It’ll be one year this week since ChatGPT was released to the public. While there was handwringing about waves of jobs being replaced by bots, that hasn’t quite happened. We’ll take a look at how human workers are using generative AI (or not). We’ll also hear why home prices in Detroit have surged and how a Supreme Court case could upend how the Securities and Exchange Commission does business.
29-11-2023 • 7 minuten, 59 seconden
Could Uber and London’s black cabs merge lanes?
From the BBC World Service: Over 10 years ago, Uber shook up the United Kingdom’s taxi scene. Now, the company says it will open up its platform to London’s black cabs early next year. Plus, 41 Indian construction workers have been rescued from a collapsed tunnel in the Himalayas after being stuck for 17 days. Then, China is positioning itself to dominate the global supply of green technology.
29-11-2023 • 9 minuten, 41 seconden
Need is up at food banks this holiday season
The weeks around Thanksgiving and Christmas are often some of the busiest times of the year for food banks. And demand is up this year, as holiday expenses compound the stress that inflation and the end of pandemic-related federal benefits have placed on household budgets. Also on the program: a fast fashion IPO and a first for sustainable aviation.
28-11-2023 • 8 minuten, 29 seconden
The hottest new concert venue near you might just be a movie theater
If you couldn’t make it to some of the biggest concerts of the year, no problem. Beyoncé’s Renaissance film comes out this Friday, which follows Taylor Swift’s highly popular Eras Tour film. The flicks provide another boost to the artists but also give movie theaters the chance to profit off of ticket sales and themed food or merchandise. Also: hopes for Giving Tuesday and a preview of holiday toy sales.
28-11-2023 • 7 minuten, 2 seconden
A flight powered by cooking oil takes to the skies
From the BBC World Service: The first transatlantic flight powered only by what’s being called “sustainable aviation fuel” is due to take off from London today. Plus, a Swedish court has ruled that the country’s transport authority has to find a way to get license plates to Tesla, because postal workers are on strike. Then, TikTok’s owner ByteDance says it’s downsizing its gaming division.
28-11-2023 • 7 minuten, 35 seconden
A “breakthrough” in AI safety guidelines
Many of the world’s biggest economies have agreed to non-binding safety standards for artificial intelligence. While the joint guidelines address cybersecurity, they don’t extend to key issues like economic disruptions or potential threats to humanity. We dig into what this means as governments struggle to keep up with the pace of AI development. Plus, nothing like a U.N. climate summit for pitching expanded oil and gas deals.
27-11-2023 • 8 minuten, 6 seconden
What to watch for at COP28
The United Nations’ annual climate summit, COP28, will kick off in Dubai later this week. Government and private-sector leaders will convene to outline steps to curb emissions and limit the impacts of global warming. What are some of the things we’ll be looking for? But first, we’ll unpack Black Friday sales and give a preview of Cyber Monday spending. Also: more problems in China’s rocky financial sector.
27-11-2023 • 7 minuten, 16 seconden
UAE planned to use climate talks to strike oil deals
From the BBC World Service: Leaked documents obtained by the BBC suggest that the United Arab Emirates has been using its role as host of COP28 as an opportunity to strike oil and gas agreements. Then, Chinese officials have launched an investigation into one of the country’s biggest shadow banks. Plus, analysts say Zimbabwe has become the world’s leading blueberry exporter.
27-11-2023 • 7 minuten, 3 seconden
Some housing hope courtesy of new homes
Earlier this month, the Commerce Department reported that construction of single-family homes was up 13% from October of last year. All that new construction is supporting both the housing market and generating business for the home construction supply chain. We take a closer look. Plus, consumers continue splurging on experiences and a relatively narrow strike in Sweden against Tesla has spread to multiple industries.
24-11-2023 • 7 minuten, 4 seconden
How different generations are spending this holiday season
More than 180 million people are expected to shop either in store or online this holiday weekend, according to the National Retail Federation. While nearly everyone regardless of age is likely to experience sticker shock, we’ll preview where older adults and younger generations are most likely to splurge. And later, we’ll take a closer examination at Saudi Arabia’s investment in soccer.
24-11-2023 • 7 minuten, 54 seconden
Strikes in Sweden against Tesla are “insane,” Elon Musk says
From the BBC World Service: Several trade unions in Sweden are striking against Tesla over the company’s refusal to sign a collective agreement on pay and conditions for its staff. Other unions are supporting the strike, including the Union of Service and Communication Employees, stopping postal and delivery services to Tesla. In Europe and the United Kingdom, unions and activists are taking action against Amazon, aiming to use strikes to prevent merchandise from reaching Amazon parcel lockers on Black Friday. Then, with Saudi Arabia the likely host of the World Cup in 2034, we look at the country’s relationship with soccer.
24-11-2023 • 7 minuten, 6 seconden
Barriers for Indigenous workers in tech start early
A recent report finds that Native people in tech are underrepresented in the high-paying sector. Just 20% of high schools on reservations offer computer science courses, the research finds. What can be done to close that gap? Plus, European beekeepers try to defend against an invasion of Asian hornets.
23-11-2023 • 7 minuten, 29 seconden
What’s going on at the FDIC?
The chair of the FDIC was grilled during Congressional hearings last week following reports by the Wall Street Journal on allegations of sexual harassment and racial discrimination at the agency. We’ll dig into the responses to and potential consequences of the alleged toxic culture. Plus, we hear what’s being discussed in earnings calls and learn how Ukrainian women are stepping up to fill traditionally male industries.
23-11-2023 • 8 minuten, 42 seconden
Is the Netherlands heading for Nexit?
From the BBC World Service: In the Netherlands, far-right politician and EU critic Geert Wilders has claimed a shock election victory; immigration and the economy were major factors. Also on the program: Asian hornets are spreading fast across Europe, where the insects are threatening the production of honey and fruit crops. Then, following Russia’s invasion, millions of Ukrainian women have taken on new roles that were previously done by men, including mining.
23-11-2023 • 6 minuten, 57 seconden
More Americans dip into retirement funds for emergencies
Fidelity Investments reports that workers taking out a so-called “hardship withdrawal” from their retirement accounts — one used to cover emergency expenses — ticked up in the third quarter. Thing is, those who make those withdrawal are the ones most likely to need the cash in their older years. We explore the consequences. Plus, what durable goods orders can reveal about the economy and how kimchi grew to be a global phenomenon.
22-11-2023 • 8 minuten, 19 seconden
Why an Andy Warhol sculpture bombed at auction
Last week, an Andy Warhol piece up called Bomb — literally a silver-painted bomb — failed to sell because its reserve wasn’t met. Why couldn’t it fetch a higher price? We’ll discuss and take a closer look at the high-end art world. Also, OpenAI exemplifies what can happen when employees threaten to quit en masse, and a major settlement shakes up crypto exchange Binance.
22-11-2023 • 7 minuten, 27 seconden
Sam Altman returns to OpenAI
From the BBC World Service: The drama continues at artificial intelligence business OpenAI, where co-founder Sam Altman is set to return as boss just days after he was fired by the board. And, in the Netherlands we hear voters’ concerns about inflation as they head to the polls. Meanwhile, South Korea’s traditional cabbage-based dish, kimchi, is finding favor beyond Asia. We take a look at the growing global market.
22-11-2023 • 7 minuten, 4 seconden
The forecast calls for … more changing forecasts
The Index of Leading Economic Indicators is supposed to give insight into where the economy’s headed. It’s been pointing to a recession for 19 months, but that economic slowdown has yet to materialize. So what are economists predicting now? We’ll also hear about the slim possibility of airline strikes. And later: Polish drivers blockade trucks at the Ukrainian border.
21-11-2023 • 8 minuten, 20 seconden
X sues Media Matters over antisemitism report
Elon Musk’s social media platform X, formerly known as Twitter, has filed a lawsuit against nonprofit Media Matters after it released an analysis showing that ads on the platform appeared next to antisemitic content. Media Matters’ report prompted some companies to pull advertising. We dig in. Then, from Marketplace Morning Report’s “Skin in the Game” series, up-and-coming video game developers share their dream jobs.
21-11-2023 • 7 minuten, 18 seconden
Is fashion waste making Cambodian workers sick?
From the BBC World Service: A human rights group in Cambodia says that clothing waste from big brands like Adidas, Walmart and others are being burnt as cheap fuel in factories making bricks. Plus, a look at why China has particular concern for Zambia’s debt restructuring plan.
21-11-2023 • 7 minuten, 48 seconden
On that other part of the Federal Reserve’s job
A key priority of the Federal Reserve is to stabilize prices, which it’s trying to do by raising interest rates. But the Fed is also tasked with maximizing employment, and economists met at the Boston Federal Reserve this weekend to discuss just that. Then, we chat about the cost of a Thanksgiving meal and hear how minors in the U.K. are able to illicitly work for food delivery apps.
20-11-2023 • 7 minuten, 30 seconden
Can parents stomach higher child care costs?
The deadline for child care providers to spend over $37 billion in federal pandemic-era subsidies is more than a month behind us. Now that the money’s gone, providers are trying to make up the difference and some are contemplating upping prices. But parents are already being squeezed. Also: a hectic weekend for former ChatGPT CEO Sam Altman and a boost to local economies courtesy of outdoor recreation enthusiasts.
20-11-2023 • 7 minuten, 43 seconden
Will Milei’s radical policies cure Argentina’s economic malaise?
From the BBC World Service: Argentina has a chosen a new president — the libertarian Javier Milei, who has some radical ideas about how to tame hyperinflation, such as dollarization. We take a look at how those plans might work. Plus, how many delivery riders are underage? A BBC investigation has found a black market trade in delivery app accounts in the United Kingdom that allows children to sign up.
20-11-2023 • 7 minuten, 43 seconden
A view of APEC from overseas
The Asia-Pacific Economic Cooperation summit, or APEC, concluded this week with a major focus on the meeting between President Joe Biden and China’s President Xi Jinping. We’ll dig into how the meeting received by Chinese news outlets and hear how Japan tried to manage its fraught relationship with China. Then, we’ll take a look at holiday shopping and tribal leader policy priorities.
17-11-2023 • 8 minuten, 53 seconden
With a shutdown averted, what’s next for aid for Ukraine and Israel?
On Thursday night, President Joe Biden signed a bill to temporarily avoid a government shutdown. But the stopgap measure basically pushed some more controversial items — including Biden’s request for more funding for Ukraine and Israel — down the road. What might some potential paths ahead be? And later, we examine how settlers abused financial guardianship in the Osage Nation.
17-11-2023 • 6 minuten, 30 seconden
Economy looms large over Argentina’s presidential run-off
From the BBC World Service: Argentina will choose a leader on Sunday, so what economic factors will be on voters’ minds? Also, an executive of U.K.-based Stability AI quits over concerns about using copyrighted works without consent. And as shoplifting rises globally, the boss of a store chain in Wales talks about the impact thefts have on the business.
17-11-2023 • 7 minuten, 18 seconden
The plan to make USPS profitable isn’t going well
2023 was the year that the the United States Postal Service was supposed to break even, per Postmaster Louis DeJoy’s austerity plan. But this week, USPS announced a $6.5 billion net loss for the last fiscal year. We take a closer look. Plus, checking in on U.S.-China tariffs and examining the specialized supply chain needed to move avocados.
16-11-2023 • 7 minuten, 12 seconden
Making it easier for veterans to transition to civilian jobs
Veterans often develop a unique slate of skills when serving in the armed forces, but private-sector employers sometimes fail to recognize those abilities. At a time when many companies are still struggling to hire up, how can we more successfully match veterans’ talents with civilian opportunities? Also: tackling discrimination in internet access and recapping the Biden-Xi talks.
16-11-2023 • 6 minuten, 57 seconden
Clamping down on Russia’s diamond trade
From the BBC World Service: Russia is the world’s largest producer of rough diamonds, and despite all the sanctions imposed after the invasion of Ukraine last year, diamonds are one of the few major exports still untouched. But that’s about to change. Plus, Taiwan is at the heart of the world’s semiconductor trade, but as tensions with China persist, is it viable to have so much production in one place?
16-11-2023 • 8 minuten, 52 seconden
WIC funding could be jeopardized by budget showdown
The House of Representatives has passed a stopgap spending measure to avoid a government shutdown. Now, it’s up to the Senate. But the bill lacks some major funding provisions, including for WIC — a federal food assistance program for women and children that has seen soaring enrollment in the past year as food prices have climbed. Also: wholesale prices, sports viewership and the U.S.-China semiconductor trade dispute.
15-11-2023 • 8 minuten, 24 seconden
White Christmases are nice. Retailers would prefer a green one.
We’ll be getting some clues about how this year’s holiday shopping season will pan out, with big retailers like Target, Walmart and Macy’s slated to released quarterly results today and tomorrow. What can we expect from holiday consumer spending? Then, we hear about the latest season of Marketplace’s climate solutions podcast, “How We Survive,” which digs into what happens when water becomes unaffordable.
15-11-2023 • 7 minuten, 12 seconden
China’s Xi Jinping and President Biden set for APEC summit meeting
From the BBC World Service: China’s president has arrived in California ahead of a face-to-face meeting with President Joe Biden, in an efforts to ease tensions over trade, technology and Taiwan. The pair will hold talks at the edge of the conference for Asia Pacific leaders. Plus, inflation in the United Kingdom drops to its lowest level in 2 years as energy costs fall.
15-11-2023 • 6 minuten, 59 seconden
Have dating apps lost their spark?
The dating app business isn’t doing so well these days. Stock prices for Bumble have slid since it’s gone public and the company recently announced a new CEO. In a market saturated with apps claiming to help users finding love, daters are feeling “swiped out.” Also on the program: a crackdown on fentanyl exports from China and a breakdown of today’s fresh inflation figures.
14-11-2023 • 6 minuten, 17 seconden
Ralph Nader on a dozen CEOs who got it right
Consumer advocate and former presidential candidate Ralph Nader isn’t exactly known as a friend to corporations or their leaders. But in his latest book, Nader outlines lessons from CEOs who he believes have been forces for good. Today: a conversation with America’s consumer-advocate-in-chief. Also: What are the practical effects of a downgrade to the U.S. credit rating?
14-11-2023 • 6 minuten, 15 seconden
Nepal puts TikTok in a timeout
From the BBC World Service: Nepal’s government bans TikTok with immediate effect, saying the platform is bad for “social harmony.” Additionally, reports suggest India could lower import tariffs on electric vehicles after lobbying from Tesla. Also: What impact will the Michelin Guide’s expansion of its Turkey listings have on the country’s tourism sector?
14-11-2023 • 7 minuten, 11 seconden
Tentative contracts aren’t necessarily done deals
Both Hollywood actors represented by SAG-AFTRA and United Auto Workers union members have reached tentative agreements with employers in recent weeks, which still need to be voted on and ratified. But these votes are more than just a rubber stamp. We dig in. Also: U.S. President Joe Biden and Chinese President Xi Jinping are slated to meet this week. What’s at stake?
13-11-2023 • 8 minuten, 58 seconden
On the brink of a government shutdown … yet again
There’s no deal in sight yet to avert a government shutdown by the end of this week. We take a closer look at the status of plans that leaders in Congress are mulling and how this is affecting the U.S. credit rating and outlook. Then, we head to Los Angeles to hear from a striking hotel worker contending with the affordable housing crisis.
13-11-2023 • 7 minuten, 49 seconden
BMW looking into misconduct claims against Moroccan supplier
From the BBC World Service: German carmaker BMW says it is seeking clarity over allegations of labor and environmental violations made against a cobalt mine operator in Morocco, which supplies metals for electric car batteries. Plus, why haven’t Chinese tourists returned to Thailand in the numbers seen pre-pandemic?
13-11-2023 • 7 minuten, 26 seconden
A surprising number of veterans go uninsured
A new report from the Urban Institute finds that hundreds of thousands of younger veterans are uninsured. One of the solutions it outlines is expanded Medicaid, which all but 10 states have already done. Plus, the story of terror portrayed in “Killers of the Flower Moon” takes place in the 1920s and ’30s. But what happened after? We hear about the Osage Nation’s developments in government, language preservation and land acquisition.
10-11-2023 • 8 minuten, 27 seconden
An end to movie theaters’ supply chain woes?
Many in Hollywood breathed a sigh of relief this week when SAG-AFTRA reached a tentative contract agreement with major studios. But though movie theaters are hungry for content, the impact of the actors strike may linger well into next year. Plus, what will the approval of weight loss drugs mean for health care costs? And later, we hear from an entrepreneur who made vintage arcade games his career.
10-11-2023 • 7 minuten, 45 seconden
Meta clamps down on AI in political ads
From the BBC World Service: Meta, the company that owns Facebook and Instagram, is stopping political campaigns from using its generative AI advertising products. The move aims at tackling misinformation and deepfake videos. Then, Diwali — the Hindu festival of lights — takes place on Sunday. But as people battle higher living costs and air pollution, will the celebrations be a bit dimmer this year? Additionally, JKN Group — the Thai owner of the Miss Universe beauty pageant — has filed for bankruptcy.
10-11-2023 • 7 minuten, 25 seconden
Actors and Hollywood studios reach a tentative deal
After a nearly four monthlong strike, SAG-AFTRA performers reached a tentative agreement with Hollywood studios last night. While details are still scarce, both sides are celebrating — and there are signs of big gains for actors. What will we be looking for in the contract and what does it mean for our favorite shows? Also, workplace injuries are up and a bakery in Gaza struggles to keep up with demand.
9-11-2023 • 9 minuten, 18 seconden
Lessons on exploitation in “Killers of the Flower Moon”
For this month’s “Econ Extra Credit” project, we’re watching Martin Scorsese’s new feature film, “Killers of the Flower Moon.” The film shows how white settlers terrorized members of the Osage Nation, violently attempting to acquire their oil resources. We’re joined by professor and Osage Nation citizen Jean Dennison to define key concepts in the film, including headrights and guardianships. But first: What’s up with Speaker Mike Johnson’s financial disclosure?
9-11-2023 • 8 minuten, 14 seconden
McDonald’s UK faces legal action over “toxic culture” allegations
From the BBC World Service: A group of young former McDonald’s workers in the United Kingdom is taking the fast food chain to court, accusing it of failing to protect them at work. Earlier this year, a BBC investigation revealed allegations of sexual assault, harassment, racism and bullying. Plus, Bangladesh is the world’s second-largest exporter of clothes, but workers are protesting over better pay and conditions. Then, as the French government hosts a conference in Paris today to discuss ways of getting humanitarian aid to people in Gaza, we hear from a bakery in the territory that is struggling to keep up with the massive demand for crucial supplies of bread.
9-11-2023 • 7 minuten, 51 seconden
As interest rates plateau, stocks are on a roll
As investors sense the Federal Reserve is done raising interest rates, stocks are seeing an extended rally. Of course, no one knows what the Fed will really do until they actually do it. Elsewhere, a possible light at the end of the tunnel for the shipping industry’s recession, and checking in on El Salvador’s big gamble on bitcoin.
8-11-2023 • 7 minuten, 7 seconden
“We cannot trust them with our children,” says former Meta safety engineer
A former safety engineer at Facebook parent company Meta tesifies, “We cannot trust them with our children,” citing indequate options for addressing harmful material. Plus, a look ahead at this weekend’s Asia Pacific Economic Cooperation Summit in San Francisco; stocks rally on hopes of no more interest rate hikes; and new legislation looks to boost Americans’ retirement security.
8-11-2023 • 8 minuten, 31 seconden
Withering on the vine – why wine production is falling
From the BBC World Service: Wine production around the world is set to fall this year to its lowest level in more than 60 years, mainly down to changes in the weather. Plus, consumer and environmental groups have issued a legal complaint to the European Commission, saying that Danone, Nestle and Coca Cola are making misleading claims about plastic bottles being 100% recycled – or being completely recyclable. The big brands deny this. And, El Salvador made history in 2021 by becoming the first country to accept Bitcoin as legal tender, but how has it worked out for ordinary Salvadoreans?
8-11-2023 • 7 minuten, 13 seconden
Why the U.S. retirement system is so mediocre
Of 47 countries, the United States ranked No. 22 in a recent Mercer ranking of global retirement systems. We discuss the lessons the U.S. might be able to learn from higher-ranking countries and why the U.S. retirement system is falling so far behind. We also hear about the latest on aid to Gaza and yet another potential government shutdown.
7-11-2023 • 8 minuten, 27 seconden
Medicare scams proliferate during open enrollment
Open enrollment season is underway, and the Federal Trade Commission is warning consumers about scams — especially ones that take advantage of older adults. We hear from experts on how people can protect themselves and their loved ones. Plus, WeWork, the company known for its hip co-working spaces, declares bankruptcy. And later: Should college athletes be considered employees of their schools?
7-11-2023 • 7 minuten, 4 seconden
AirBnB faces tax evasion allegations in Italy
From the BBC World Service: A judge in Italy orders the seizure of $835 million from short-term rental giant Airbnb, as prosecutors say it failed to collect a tax from landlords. Also: The European Space Agency changes the way it works by launching a competition to develop a commercial space capsule.
7-11-2023 • 6 minuten, 29 seconden
The latest trend in employer benefits? Menopause support
Open enrollment season is upon us, and a new type of benefits is gaining popularity: support for workers going through menopause, including flexible time off, counseling and hormone therapy. While only a small number of workplaces currently provide menopause-specific benefits, a growing number of employers are open to the idea. Later in the program: Germany aims to crack down on illegal immigration.
6-11-2023 • 7 minuten, 38 seconden
We’ve gone over the “child care cliff.” What happens now?
The deadline to spend pandemic-era child care subsidies passed at the end of September, the so-called “child care cliff.” We visit one child care facility in Baltimore to hear how the end of federal funding could affect providers’ ability to recruit and retain workers. Plus, a video game maker goes after the Google app store, and the House of Representatives is expected to vote on its transportation funding bill.
6-11-2023 • 8 minuten, 9 seconden
Construction paused as Delhi pollution takes hold
From the BBC World Service: Nonessential building work is paused, commercial trucks are banned, and office staff are working from home in the Indian city of Delhi due to severe pollution. Plus, a United Nations report shows the cost to farmers of Taliban authorities’ ban on opium poppy cultivation in Afghanistan. Also: Germany’s government hopes tougher sentences for people traffickers will slow illegal migration.
6-11-2023 • 9 minuten, 21 seconden
A Fed-pleasing jobs report
Some 150,000 jobs were added in October. That’s less than expected but still shows healthy growth. We do the numbers on this morning’s jobs report, which shows a cooling economy more in line with what central bankers are hoping for. We also take a bite out of Apple’s earnings report and hear from an entrepreneur who started a gym that centers the needs of people with physical disabilities.
3-11-2023 • 9 minuten, 37 seconden
SBF found G-U-I-L-T-Y
The former head of collapsed crypto exchange FTX Sam Bankman-Fried was found guilty on all charges of fraud and conspiracy yesterday. We review how one of the biggest fraud cases in recent memory wrapped up. Then, holiday spending is projected to grow this year. And later, a look at the Biden administration’s new, more tailored student loan forgiveness plan.
3-11-2023 • 8 minuten, 27 seconden
Could Australian wine start flowing again?
From the BBC World Service: China was the biggest importer of Australian wine, until Australians called for an investigation into the origins of COVID-19 and China slapped tariffs on various commodities. But as relations between the countries improve, could the wine start flowing again? Also: Will there be a time when jobs aren’t necessary? Elon Musk thinks so and he’s putting it down to AI. Plus, religiously conservative Malta is fast becoming known as one of the most gay-friendly places in Europe, giving its tourism industry a boost.
3-11-2023 • 6 minuten, 59 seconden
Are EVs facing a reality check?
EV sales are growing, but not as quickly as hoped. Carmakers are now dialing back EV production targets. And it’s possible that the deals that ended the United Auto Workers’ strike could make EVs less profitable for companies too. Is it a tap on the brakes for EVs? Plus, we take a look at the growing dupe market and hear why Disney is buying the rest of Hulu.
2-11-2023 • 7 minuten, 38 seconden
The humanitarian and economic toll of war in Gaza
Living conditions in Gaza were already dire before Israel’s military offensive operations. Prior to the war, Gaza’s unemployment rate exceeded 45%, and two-thirds of the population were living in poverty. Now, Israel has cut off food, fuel, water, gas and electricity. We discuss the repercussions. Plus, is the Federal Reserve as concerned about raising interest rates too much as it is about not hiking them enough?
2-11-2023 • 9 minuten, 22 seconden
What do fashion brands make of the “dupes” boom?
From the BBC World Service: Would you invest thousands of dollars on designer handbags or clothes? Or would you buy strikingly similar ones for a fraction of the cost? We take a look at the booming market for duplicates, or dupes. Also, it’s day two of a big AI summit in the United Kingdom, where world leaders and tech giants are discussing the threats and the opportunities of the technology. They’ve announced a deal, but many are worried they may have their priorities wrong. Plus, Japan is putting together an economic stimulus package worth more than $110 billion to help combat the impact of inflation.
2-11-2023 • 7 minuten, 6 seconden
The current beat of the music economy
The past few years have been anything but melodious for the music industry. Concerts have roared back with pandemic restrictions lifted, but how have the economics of live shows, streaming platforms and new technologies changed? But first: A jury found that realtors have kept commissions artificially high.
1-11-2023 • 8 minuten, 45 seconden
All eyes are on the Treasury Department today
The Federal Reserve wraps up its two-day meeting today, but something else may overshadow Chairman Jerome Powell’s news conference: a Treasury Department announcement detailing the mix of bonds it’ll use throughout the rest of the year. While it’s usually a snoozefest, we explain why economists (and the Marketplace team!) are planning to stay wide awake. Plus, smaller homes are having a moment and Maine’s “yellow-flag” law is under scrutiny.
1-11-2023 • 8 minuten, 52 seconden
Can the U.K. summit deliver on AI safety?
From the BBC World Service: Government representatives and tech leaders are meeting in the United Kingdom for the world’s first safety summit on artificial intelligence. What might come out of it? Plus, a drought is forcing a traffic reduction through the Panama Canal. And there’s another controversial host for the men’s soccer World Cup, as Saudi Arabia is set to hold the 2034 competition.
1-11-2023 • 9 minuten
“Affirmative action for the rich”
More colleges are offering early decision admissions, where students signal that a particular university is their top choice but have to commit before seeing their financial aid package. Early decision is not without controversy. Students who apply early tend to be wealthier, and critics say the practice undermines fairness. Plus, child care costs continue to climb, and the UAW hopes its contract wins will encourage other car manufacturers to unionize.
31-10-2023 • 7 minuten, 24 seconden
Yes, young people get scammed too
While there’s often a narrative that scammers target older adults, scammers don’t discriminate. Turns out, younger people are more likely to report losing money to a scam. We delve into the types of scams Gen Zers fall for and what consumers can do to protect themselves. Also, the Biden administration cracks down on junk fees from financial advisers, and the market might be doing some of the Fed’s work.
31-10-2023 • 8 minuten, 28 seconden
Court criticizes New Zealand tour company ‘failures’ over 2019 volcano disaster
From the BBC World Service: A tour company has been found guilty of not “minimizing risk” in the 2019 White Island volcano eruption, in which 22 people died. Then, the government in Haiti has suspended flights to Nicaragua, which has become a popular connection point for migrants trying to reach the United States. Also: Scaring people is big business. We look at the tourism attractions recreating the dark side of history.
31-10-2023 • 7 minuten, 26 seconden
Big bosses’ big turnover
More than 1,400 CEOs have left their jobs from January to September this year. That’s up by almost 50% from the same period last year, and it’s the biggest turnover in more than two decades, according to a recent report. What’s behind the exodus? Also: The Biden administration looks to regulate artificial intelligence, and federal oversight can get in the way of Native homeownership.
30-10-2023 • 9 minuten, 4 seconden
It’s not just you. Self-checkouts are terrible.
Be honest: Do you prefer self-checkouts at stores or do you actually kinda dread them? Today, we hear how self-checkout machines failed to deliver on their promises to save time and money for both retailers and consumers. Plus, the United Auto Workers union reached a tentative deal with carmaker Stellantis but has no deal yet with General Motors, where strikes are expanding.
30-10-2023 • 8 minuten, 48 seconden
Chinese property giant Evergrande given one last chance to agree debt deal
From the BBC World Service: The world’s most indebted real estate developer, Evergrande, has been told it has weeks to avoid liquidation by agreeing a repayment plan for the money it owes. Then: Ecuador’s incoming interim President faces a number of challenges, including revitalizing the economy while also shutting down a key oil field.
30-10-2023 • 8 minuten, 15 seconden
Why services inflation is so darn sticky
The Federal Reserve’s interest rate hikes have forced plenty of consumers to put off bigger purchases, such as a new appliance. But people are still spending lots on cheaper, everyday services — like a haircut or dining out. That, coupled with wage increases, have caused services inflation to remain elevated. Plus, thousands of hotel workers strike in downtown in LA and October can be a spooky month for stocks.
27-10-2023 • 8 minuten, 7 seconden
What’s the difference between CPI and PCE?
Folks in econ circles sure do love their acronyms. Later this morning, the Commerce Department releases the PCE, or the personal consumption expenditures price index, for September. But there’s also the CPI, or the consumer price index. We give you the TL;DR on both measures of inflation. Then: a case study of an immigration scam and how communities are fighting back.
27-10-2023 • 7 minuten, 35 seconden
Chinese Foreign Minister visits Washington to talk trade
From the BBC World Service: The Chinese Foreign Minister Wang Yi is in Washington meeting U.S. Secretary of State Antony Blinken. Has the bubble burst for the Hipgnosis Songs Fund? It owns the rights to songs written by Blondie, Shakira, Neil Young and others, and more than 80% of its shareholders voted against plans for it to continue as an investment trust.
27-10-2023 • 6 minuten, 25 seconden
When it costs almost $30 a year to spend $100
Average interest rates for retail credit cards, like cards for Gap or Home Depot, have reached new highs at nearly 29%, according to data from Bankrate. That’s compared to the typical rate for your standard Visa or Mastercard, which runs around 21%. What gives? Also: Unpacking today’s GDP figures and the UAW’s tentative deal with Ford.
26-10-2023 • 7 minuten, 1 seconde
What does a new house speaker mean for government spending?
Republican Mike Johnson of Louisiana was elected as the speaker of the house yesterday. What does this new leadership mean for spending bills to avert a looming government shutdown, aid packages to Ukraine and Israel, and the farm bill? We explore. Plus, food insecurity climbed last year. Then, more states are requiring financial literacy classes. We look at the impact.
26-10-2023 • 6 minuten, 24 seconden
Is Germany already in recession?
From the BBC World Service: New figures suggest Germany could already be in recession, as business activity contracted for a fourth straight month in October. Also, China and Colombia have elevated diplomatic relations to the next level — a so-called “strategic-partnership” — which is likely to raise eyebrows in Washington. And it turns out that the “Barbie” movie has boosted toy sales for its maker, Mattel.
26-10-2023 • 6 minuten, 15 seconden
Are interest rates high … or have we just gotten spoiled?
While we’ve gotten cozy to the idea that money’s nearly free to borrow over the last few years, the yield on the 10-year Treasury note briefly crossed 5% last week. But 10-year Treasury rates have historically been 5%. Is this actually just a return to normal? Plus, major state lawsuits against Meta loom over its quarterly earnings report today. Also: what U.S. sanctions relief means for Venezuela’s oil production.
25-10-2023 • 7 minuten, 35 seconden
New tools to fight discrimination in housing
U.S. financial regulators recently made big changes to the Community Reinvestment Act. The fair lending rules are from 1977 and were designed to stop damage from redlining. But not everyone’s happy with updates to the law. We discuss. Plus, there are tons of applications — and big benefits — to gamified training.
25-10-2023 • 7 minuten, 1 seconde
Pandora expands its lab-grown diamond range
From the BBC World Service: The lab-grown diamond industry is now a $14 trillion market. Pandora, the world’s largest jewelry-maker, is expanding its lab-grown diamond range. Plus, eToro, a trading and investing platform, says that short selling has risen in popularity among ordinary investors in the last few years. And lastly, France’s government has announced new rules that mean businesses must tell customers whether food on the menu is house-made.
25-10-2023 • 6 minuten, 50 seconden
Bye-bye, fossil fuels
Have no doubt: Fossil fuels are out and renewables are in. The International Energy Agency predicts a dramatic shift toward green energy by the end of this decade. And more than 130 large companies recently signed onto a letter urging world leaders to ditch fossil fuels. Plus, the Biden administration is making a bet that hydrogen fuel will help bring the American economy to net-zero carbon emissions by 2050.
24-10-2023 • 6 minuten, 33 seconden
UAW strikes loom over carmaker earnings
Both General Motors and Ford will report quarterly earnings this week as the United Auto Worker strike stretches into its sixth week. Investors — and the union — will be scrutinizing the numbers for clues about how the extended work stoppage is affecting the companies. Also: a preview of Big Tech earnings and the importance of “Davos in the Desert.”
24-10-2023 • 7 minuten, 15 seconden
Women in Iceland strike over gender pay gap
From the BBC World Service: Women across Iceland are to strike from paid and unpaid work on Tuesday to bring attention to inequality. Then, the China-U.S. Economic Working Group holds its first meeting in a effort to make relations between the two countries more constructive. Lastly, the wool industry once helped save the vicuna from extinction, but a fall in wool prices could pose a new threat.
24-10-2023 • 6 minuten, 21 seconden
Why the U.S. budget deficit surged in the past year
The U.S. government ran a budget deficit of about $1.7 trillion for the 2023 fiscal year, up 23% compared to the year before. How did we get here? We dig into what the government is spending, what it’s taking in and the steep toll interest rates are taking. Also: a brief history on U.S. aid to Israel.
23-10-2023 • 7 minuten, 18 seconden
How humanitarian aid to Gaza gets distributed
The first two groups of trucks carrying humanitarian aid into Gaza crossed over the border from Egypt this weekend. Today, we discuss how international gets where it needs to go and the sort of complications that can arise when distributing it. But first: Chevron looks to buy Hess in the latest major fossil fuel industry deal.
23-10-2023 • 7 minuten, 39 seconden
China investigates iPhone-maker Foxconn
From the BBC World Service… China has launched an investigation into Taiwan-based iPhone-maker Foxconn. Officials are conducting tax inspections into the company which is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world. There was no clear winner in Argentina’s presidential election, with Javier Milei and Sergio Massa heading for a run-off vote. Earlier this month, the arctic town of Kirkenes in North Norway near the Russian border banned Russian-registered cars – the last of the European countries sharing the land border with Russia, to do so; we look at the effect on the local economy.
23-10-2023 • 8 minuten, 29 seconden
So much money to send and nobody there to send it
Later today, President Joe Biden is expected to send an urgent foreign aid request to Congress, including funding for Israel and Ukraine. The House of Representatives can’t vote on anything until a speaker is elected. In the meantime, we dig into the funds at stake. Plus, the fight over net neutrality is reignited and an Argentine presidential candidate wants to nix the peso in favor of the dollar.
20-10-2023 • 8 minuten, 20 seconden
Fed Chair Jerome Powell: Caution is the name of the game
The country’s interest rates can make the difference between a growing economy and one headed toward recession. But the decision on what the Federal Reserve should do next month with interest rates looks like a day-by-day calculation. So what is Fed Chair Jerome Powell thinking right now? We unpack. And later, we take a closer look at the world of immigration scams.
20-10-2023 • 6 minuten, 55 seconden
How China’s birth rate is partially to blame for Irish job losses
From the BBC World Service: Nestlé is closing a baby milk factory in Ireland; the BBC’s John Campbell explains how a falling birth rate in China is responsible. Then, in the middle of an economic crisis and with inflation at almost 140%, Argentina votes for a new government this weekend, Natalio Cosoy reports on one of the candidates who’s promising to dollarize the economy.
20-10-2023 • 7 minuten, 8 seconden
Household net worth soared during the pandemic
According to a recent survey by the Federal Reserve, the median household net worth jumped 37% from 2019 to 2022 after adjusting for inflation. Pandemic relief checks and extended unemployment benefits helped fatten bank accounts, even for low-income families. We’ll also check out what’s going on in the treasury market and hear the latest developments in the Sam Bankman-Fried trial.
19-10-2023 • 8 minuten, 42 seconden
What can parents do to ease the mounting pressure facing high schoolers?
All parents want their kids to succeed. But with AP and IB classes, extracurriculars and test prep, it seems like the bar to achieve for high school students just keeps getting higher. We delve into how we got here and how parents can help teens reframe their value and self-worth. But first: Netflix and bill? After a surge in subscribers following its password crackdown, Netflix is hiking prices.
19-10-2023 • 6 minuten, 34 seconden
Is a British billionaire about to buy a 25% stake in Manchester United?
From the BBC World Service: Manchester United’s board is meeting on Thursday to consider a bid from British billionaire Sir Jim Ratcliffe to buy a 25% stake in the club. Plus, Nokia cuts 14,000 jobs as its bet on 5G proves costly. And finally, the BBC’s James Graham explores why the cost of sending your children to private school in the United Kingdom is rising.
19-10-2023 • 6 minuten, 36 seconden
Banks are mostly doing fine … but are little anxious
While Morgan Stanley reported a drop in quarterly profits this morning, most major banks have posted strong earnings thanks to higher interest rates. But some are finding evidence of financial strain among businesses and consumers. Then, X experiments with an annual fee for users in New Zealand and the Philippines. And later: a look at why mandated diversity training doesn’t really work.
18-10-2023 • 8 minuten, 24 seconden
How behind-the-scenes workers are weathering the actors strike
While the writers strike is over, actors have been striking for some three months now. That’s had impacts on those throughout the movie biz, including set builders, costume designers, production crews and more. But first: Lululemon joins the S&P 500. Additionally, the human toll of the Israel-Hamas War continues to mount, but the conflict also brings geopolitical risks for the global economy. We discuss.
18-10-2023 • 7 minuten, 59 seconden
Aid agencies await plan to get humanitarian support into Gaza
From the BBC World Service: A senior aid worker explains the challenges and the urgency of getting humanitarian support into Gaza. Plus, X users in New Zealand and the Philippines will soon need to pay for basic features under Elon Musk’s latest plans. Then, as China’s Belt and Road infrastructure forum continues, we look at a project in Kenya, where work has halted after Beijing withdrew funding.
18-10-2023 • 7 minuten, 43 seconden
Some schools are bringing back school resources officers
Following the murder of George Floyd, more than 50 districts ended or curbed their use of school resource officers, or SROs. But school shootings have continued since then, and some of those districts are now reversing course. We visit one school district reinstating SROs and look at the costs. But first: the not-so-obvious connection between how much consumers are buying and our mortgage rates.
17-10-2023 • 6 minuten, 53 seconden
How workplace “gray areas” can perpetuate racism
While many companies have taken steps to address racial inequality, certain workplace dynamics and practices still allow racism to persist. We discuss what this looks like and what steps organizations can take to create more inclusive workplaces. Also: A recent ranking of retirement systems puts the Netherlands at the top of the list, while the United States received a C+. How can the U.S. raise its grade?
17-10-2023 • 6 minuten, 52 seconden
How strong are China and Russia’s economic ties?
From the BBC World Service: Russian president Vladimir Putin is set to hold talks with Chinese president Xi Jinping and take part in a forum on Beijing’s Belt and Road infrastructure initiative. So how strong are the nations’ economic ties? And as the border between Gaza and Egypt remains closed, we hear the challenges of getting people and aid across the territory. Then: Now that the European Union’s ban on microplastics has come into effect, the bloc wants to tackle plastics in the supply chain.
17-10-2023 • 6 minuten, 52 seconden
The number of union petitions continues to climb
Data from the National Labor Relations Board shows the number of union petitions filed in the past year rose 3%. That’s following a whopping 53% increase the year before. But more union petitions don’t always mean more union members. We explore. Also, we discuss what we could be hearing from Fed officials this week and delve into the role of misinformation in the Israel-Hamas War.
16-10-2023 • 7 minuten, 10 seconden
Rite Aid files for Chapter 11 bankruptcy
A New Jersey bankruptcy court will hold the the first hearing on the restructuring of pharmacy chain Rite Aid today. The smaller rival of CVS and Walgreens has been limping along for years and has been hammered by opioid lawsuits. We also take a closer look at the benefits of including salary ranges in job postings. And later: What are the returns on investments in the arts?
16-10-2023 • 7 minuten, 22 seconden
TikTok says it will ramp up resources to tackle Israel-Hamas conflict misinformation
From the BBC World Service: TikTok says it is taking action against false and inaccurate content, and will assign more staff to tackle misinformation. In Greece, olive oil has been the target of a series of high-profile thefts. Plus, the Walt Disney Company celebrates 100 years since its inception.
16-10-2023 • 6 minuten, 26 seconden
How cryptocurrency helps fund Hamas
While questions remain about how Hamas financed its deadly attack on Israel last weekend, we know that the militant organization has been collecting funds in cryptocurrency. But U.S. and Israeli authorities have cracked down on this flow of funds in recent days. We discuss. Also, the Commerce Department is looking to tighten restrictions on AI chip exports to China.
13-10-2023 • 7 minuten, 4 seconden
A conversation with Nobel Prize winner Claudia Goldin
What do couples lose when one person prioritizes their career while the other — oftentimes women in opposite sex pairings — focuses on flexibility and care responsibilities? Today, we’re joined by Harvard’s Claudia Goldin, who revolutionized the study of why women earn less and won the Nobel Prize in economics this week, to discuss “couple equity.” And later: The IRS reports that the “tax gap” totaled nearly $700 billion in 2021.
13-10-2023 • 7 minuten, 11 seconden
Microsoft cleared to buy Activision Blizzard
From the BBC World Service: Microsoft’s revised offer to buy Call of Duty-maker Activision Blizzard has been approved by regulators in the U.K. The Competition and Markets Authority said the deal addressed its concerns, after the watchdog blocked the original $69 billion bid in April. Plus, it’s the 10th anniversary of China’s huge infrastructure project, the Belt and Road Initiative. Billions of dollars have been lent to countries in Africa, Asia, Europe and South America, but some countries are struggling with repayments.
13-10-2023 • 8 minuten, 30 seconden
Early lessons for crypto from the SBF case
This week, the star witness in the fraud trial of FTX’s Sam Bankman-Fried took to the stand: Caroline Ellison, former head of trading firm Alameda Research and on-and-off romantic partner of SBF. We unpack what we’ve learned about the relationship between Alameda and FTX and what it could mean for investors and regulators going forward. Later: Holiday shopping is beginning. Already.
12-10-2023 • 7 minuten, 46 seconden
Striking actors and Hollywood producers have stopped talking
Hollywood studios and the unions representing actors resumed negotiations 10 days ago, but contract talks halted last night. Many of actors’ key demands remain, and the news comes after Hollywood writers ratified their contract earlier this week. We hear the latest. Plus, economists expect some easing of inflation in the September consumer price index — but that doesn’t mean a smooth glide to the Fed’s goal of 2%.
12-10-2023 • 7 minuten, 12 seconden
Navigating life amid conflict in the Middle East
From the BBC World Service: How does life continue for those caught up in war between Israel and Hamas? We hear from a doctor in Gaza, a tech business co-founder in Tel Aviv, and the BBC’s reporter there, Clive Myrie, speaks to Israeli citizens who’ve answered the call for mobilization. Also, the BBC’s correspondent in Madrid, Guy Hedgecoe, explores the impact of climate change on tourism.
12-10-2023 • 8 minuten, 15 seconden
Biden administration takes aim at junk fees
This morning, President Biden is set to announce new efforts to reduce fees consumers are charged on tickets purchases, utility bills, hotel charges and more. We dig into how regulators are looking to tackle hidden junk fees. Plus, Birkenstock — the sandal everyone loves to hate — walks onto the New York Stock Exchange today. And later: Walgreens pharmacists protest difficult working conditions.
11-10-2023 • 8 minuten, 42 seconden
Book bans carry an economic impact
The number of books banned in public schools surged by 33% last year. While that’s led to a spike in sales for some authors, it can also translate to dried-up sales or speaking opportunities for others. We hear from a few writers about how book bans have personally impacted them. But first: What does aid look like to Ukraine and Israel in a speaker-less House?
11-10-2023 • 7 minuten, 31 seconden
Making a footprint: Birkenstock steps onto the NYSE
From the BBC World Service: German shoemaker Birkenstock floats on the New York Stock Exchange today. BBC’s Damian McGuinness reports on its journey from shabby shoe to shabby chic. Meanwhile, in Israel, the government has launched a crypto crackdown over Hamas fundraising. Finally, a Swedish city is making plans to outlaw cars next year as it battles pollution, but at what cost?
11-10-2023 • 8 minuten, 6 seconden
Why you want to quit social media — but can’t
Be honest: How much value do you get out of being on TikTok, Instagram and other social media platforms? New research shows the role that FOMO plays in keeping us online. Today, we dig into the costs of not being on social media and explore how apps can become a collective trap. But first, we make sense of tightening financial conditions.
10-10-2023 • 7 minuten, 10 seconden
Older workers are continuing to sit on the sidelines
So-called “prime age” workers — those 25 to 54 — are working jobs at a higher rate than before the pandemic. But the picture gets more complicated for older workers. We’ll take a closer look. Plus, gas prices have been deflating stateside despite OPEC trying to prop up oil prices. What gives? And later: The U.S. economy remains a bright spot at the annual World Bank/IMF meetings.
10-10-2023 • 7 minuten, 14 seconden
Bond market: Yields fall as investors look to safe havens
From the BBC World Service: Yields on U.S. Treasuries tumbled on early trading in Asia, as the conflict in Israel drives market uncertainty. And in Germany, campaigners are calling for the end of a decades-old law that jails people for using public transport without a valid ticket.
10-10-2023 • 9 minuten, 25 seconden
Businesses eye opportunities in student loan repayments
This month, payments on federal student loans resume. By one estimate, investors have poured $1.2 billion into student loan management startups in the past year. We take a look at this growing industry. But first, we hear how oil markets, bonds and more are responding to Israel’s declaration of war. And later: Ireland has a huge budget surplus. Now, the question is: How should it be spent?
9-10-2023 • 7 minuten, 45 seconden
Nobel economics prize won by pioneering gender gap researcher
Earlier this morning, we learned that Harvard economic historian Claudia Goldin was awarded the 2023 Nobel Prize in economics. Her research centers on labor market outcomes for women and the economic underpinnings of the gender pay gap. Senior economics contributor Chris Farrell joins the show to help us understand her works and their importance. Also: Workers at Mack Trucks go on strike.
9-10-2023 • 7 minuten, 39 seconden
Conflict in Israel impacts the oil markets
From the BBC World Service: Neither Israel nor Palestine are major oil producers, so why does conflict there have such a big impact on the price of oil? Will Bain from the BBC explains. Plus, Leanna Byrne has been finding out how Ireland bucked the trend and managed to gather a budget surplus.
9-10-2023 • 7 minuten, 49 seconden
A jobs report catching everyone by surprise
A whopping 336,000 jobs were created last month, according to the Labor Department. That figure is way higher than expected. We discuss how investors might be feeling and what it means for the Federal Reserve as continues trying to tamp down inflation. But first, there are signs of progress in the United Auto Workers strike. Then, we check in with how Europe’s smaller, independent hotels faring.
6-10-2023 • 7 minuten, 24 seconden
The economic effects of a Nobel Prize
The 2023 Nobel Prize in literature was awarded this week to Norwegian author Jon Fosse. Though well known around the world, he’s not quite a household name in the U.S. But that may change. How is the book industry prepping for a boost in the author’s profile and sales? Also on the program: Amazon satellites and the actors strike.
6-10-2023 • 8 minuten, 12 seconden
WTO halves growth forecast
From the BBC World Service: The World Trade Organization originally thought that global exports would grow by 1.7% this year, but now thinks they’ll only grow by 0.8%. The luxury brand Prada is to help design space suits for Nasa’s return to the moon in 2025. And Assassin’s Creed is one of the most popular and successful video game franchises ever, and with their new release, Mirage, they’re taking the game in a new direction.
6-10-2023 • 7 minuten, 22 seconden
VCs are finally waking up to aging as a business opportunity
Nearly one in six people in the United States is now 65 or older. While aging is often treated as an ominous economic problem, growing numbers of entrepreneurs and their financial backers are starting to see opportunities for innovation and profit in older populations. Plus, we got a peek at the latest unemployment claims today. And: the latest in the Justice Department’s antitrust trial against Google.
5-10-2023 • 9 minuten, 59 seconden
The ousting of Kevin McCarthy is bad news for Ukraine
It’s been a mess in Congress this week. Kevin McCarthy is out as house speaker, while another government shutdown looms in the shadows. We unpack the economic impact that all this turmoil in Washington could have, including its potential affects on funding for Ukraine’s war efforts. But first: How are CEOs feeling right now? Plus, President Joe Biden cancels $9 billion in student loan debt.
5-10-2023 • 8 minuten, 32 seconden
2030 Soccer World Cup to be held on three continents
From the BBC World Service: The 2030 Soccer World Cup will be held in six countries on three different continents, so how will it affect the bottom line — the money the hosts could make and the cost of building infrastructure? Indonesia has the second highest number of TikTok users worldwide, many of whom use the e-commerce feature, TikTok Shop. But following protests by traders in Jakarta who say it’s damaging their business, the feature has been removed. Plus, the problem of bed bugs in Paris has become so serious that sniffer dogs have been deployed to try and root out them out.
5-10-2023 • 7 minuten, 10 seconden
When kids as young as 13 work in slaughterhouses
The Labor Department is investigating Tyson Foods and Perdue Farms after reporting from The New York Times found that migrant children had been working hazardous overnight shifts. How have minors been able to work some of most dangerous jobs in this country? We’ll also get the latest on the Kaiser Permanente strike — believed to be the biggest health care industry strike in U.S. history.
4-10-2023 • 8 minuten, 39 seconden
The bond market is bringing the ’90s back
News of a leaderless House of Representatives is understandably grabbing headlines, but don’t miss what’s happening in the bond market. Investors are rushing to sell bonds, leading to higher borrowing costs and threatening prospects for a soft landing. But we’ve been here before. Plus, wealthy households cut back on charitable giving, and other brands threaten Nike’s sneaker dominance.
4-10-2023 • 7 minuten, 57 seconden
U.S. sanctions Chinese firms in fentanyl crackdown
From the BBC World Service: The U.S. Treasury Department announced sanctions against what it’s called a China-based network responsible for manufacturing and distribution of precursors of fentanyl and a number of other illegal drugs. An investigation has found that more than 50 YouTube channels have used AI to make science videos for kids, which get the facts wrong while getting millions of views. And band called Easy Life in England is being sued by the parent company of the low-cost airline EasyJet for using a similar name.
4-10-2023 • 6 minuten, 52 seconden
Kaiser patients: You may want to check your appointments
Workers at Kaiser Permanente are poised to go on strike starting Wednesday. The nonprofit health care system serves some 13 million members, and union contract negotiations have been in the works since April. We dig into the issues for Kaiser employees and the impact a strike could have on patient care. Then: a closer look at the UAW’s fight to protect its members through the EV transition.
3-10-2023 • 8 minuten, 22 seconden
Potential fallout for diversity efforts in the business world
Over the weekend, a federal appeals court temporarily blocked a contest from awarding grants to businesses that are majority-owned by Black women. But that lawsuit — and others like it — may have chilling effects on workplace diversity efforts and could impact Black entrepreneurs seeking funding. Plus, trade resumes for shares of China’s troubled Evergrande. And later: What can we expect from the Sam Bankman-Fried trial?
3-10-2023 • 8 minuten, 17 seconden
OPEC chief fuels oil investment debate
From the BBC World Service: In an exclusive interview, the Secretary General of the oil producers cartel OPEC warns of “dire consequences” for the global economy if investment in the oil sector falls. Crisis-hit Chinese property giant Evergrande saw its shares jump when it resumed trading in Hong Kong, but its future is unclear. And the BBC’s Paul Kenyon tracks down one of the so-called “dark fleet” ships carrying Russian oil, despite G7 sanctions.
3-10-2023 • 7 minuten, 58 seconden
New aid for Ukraine missing from shutdown deal
The funding bill that averted a government shutdown this past weekend notably lacked additional funding for Ukraine. Is it time to rethink what it will take to support Ukraine’s wartime economy? We explore new approaches that could allow the country to thrive during long-term conflict. Plus, a look at why fast-food companies are on board with a $20 minimum wage for workers in California.
2-10-2023 • 7 minuten, 45 seconden
The consequential cases to come before the Supreme Court
The U.S. Supreme Court begins a new term today and is slated to hear cases that would have the potential to dismantle some federal agencies, including one that polices the financial system. We preview the cases and their potential impact. Then, we do the number on Michigan autoworkers as their strike expands. Later: What will it take to make the video game industry more welcoming and diverse?
2-10-2023 • 8 minuten, 21 seconden
India is betting big on the gambling market
From the BBC World Service: India’s $1.5 billion online gaming industry faces a huge shake-up, as a 28% tax on revenue has come into effect. Meanwhile, Europe’s foreign ministers are gathering in Kyiv to show support for Ukraine after the U.S. cut aid. And the BBC’s Elizabeth Hotson reports on the growth of the tattoo removal market.
2-10-2023 • 7 minuten, 17 seconden
Skin in the Game: Tech leaders roundtable
The video game industry is bigger than movies and music combined. Our ongoing project is called “Skin in the Game,” and it’s a look at what games — and the vast industry that surrounds them — tell us about economics, business, money, careers and equity. And equity, in particular, is at the center of the discussion about what companies are doing and not doing to attract and retain talent who better reflect the diversity of game players and society.
For more on that, we spoke with three leaders in the industry: Trinidad Hermida, CEO at The Hermida Company and executive director of the Black in Gaming Foundation. She’s also former head of diversity and inclusion at Niantic. We also spoke with Kevin Johnson, director of development at Double Fine Productions, which is part of the Xbox Game Studios family. And, Jessica Lindl, vice president and global head of education at Unity Technologies.
29-9-2023 • 1 uur, 4 minuten, 21 seconden
Getting a COVID vaccine is kind of a struggle. Again.
While the latest COVID vaccines are now out, this is the first round of COVID vaccinations to rely mostly on the usual health insurance and provider networks as opposed to the government. What could possibly go wrong? Plus: Privet, Barbie! Despite Western sanctions, a pirated version of “Barbie” has made it onto the big screens in Moscow.
29-9-2023 • 7 minuten, 25 seconden
How the shutdown affects mortgages
As a government shutdown looms, mortgage rates have been rising. Those climbing rates have been chilling the housing market. We check in with lenders to see what mortgage demand is like. Then, to combat worker shortages, the Biden administration is releasing a worker training playbook. And later: The editor-in-chief of The Economist explains why she’s more concerned about the growing cost of U.S. debt than the shutdown.
29-9-2023 • 7 minuten, 44 seconden
Russians queue for “Barbie” movie despite sanctions
From the BBC World Service: Officially, “Barbie” isn’t showing in Russia, but unofficially, pirated versions are doing a roaring trade in Moscow cinemas. Then, the European Union has the gig economy in its sights; it’s working on legislation that could give gig workers for ride-hailing or food delivery apps more rights. Plus, the giant Chinese property developer Evergrande has confirmed that its founder and chairman has been detained on suspicion of criminal activity. Its shares remain suspended.
29-9-2023 • 8 minuten, 34 seconden
Is a blank canvas still art?
A few years ago, an artist was commissioned by a Danish museum to produce one of his signature pieces — a canvas covered in money calling attention to low average incomes and inequality. Instead, he gave the museum blank canvases as part of a work titled “Take the Money and Run.” So what happens when an artist does just that? We also bring you the latest developments on the looming government shutdown.
28-9-2023 • 6 minuten, 50 seconden
The exceptions to the minimum wage
In many parts of the U.S., it’s still legal to pay workers with disabilities a subminimum wage. But the Department of Labor said this week that it’s planning a comprehensive review of the policy. We dig in. Then, we take a look at the investments needed to avoid climate catastrophe. Plus, what would a government shutdown look like for federal employees?
28-9-2023 • 7 minuten, 48 seconden
Will Evergrande ever recover?
From the BBC World Service: Shares in crisis-hit Chinese property giant Evergrande have been suspended again in Hong Kong, and it comes after reports its chairman had been placed under police surveillance. Plus, EA Sports’ soccer game FIFA generates billions of dollars, but a fresh commercial approach means this year’s edition has a new name. And later: Why are authorities in Paris keen to subsidize healthcare for the city’s pets?
28-9-2023 • 6 minuten, 57 seconden
An end-of-summer consumer bum-out
Earlier this year, people were feeling more upbeat about the economy, with the job market hot and inflation cooling. But consumer confidence fell for the second straight month in September, according to The Conference Board. What’s weighing on consumers’ minds? We also unpack the lawsuit filed against Amazon by the FTC and 17 states, then hear about India’s premium motorcycle business boom.
27-9-2023 • 7 minuten, 45 seconden
While the writers strike is over, the actors strike is not
Late-night talk show fans rejoice: The Hollywood writers strike is over. We outline the wins of the deal — including pay increases, minimum staffing requirements and limits on the use of AI — and discuss what it means for your favorite shows and actors still on strike. Then, what sorts of responsibilities to foodies have to the communities they explore?
27-9-2023 • 6 minuten, 45 seconden
India’s motorcycle industry has its foot on the gas
From the BBC World Service: Before Brexit, goods moved freely between the United Kingdom and the European Union, but now there are far more rules and checks. BBC international business correspondent Theo Leggett reports on carmakers who are calling for a delay to a new trade tax. Also, the European Court hears a climate case brought by Portuguese youth. Finally, the BBC’s Archana Shukla has gone racing in India as the popularity of motorcycling opens up business opportunities for premium makers.
27-9-2023 • 7 minuten, 5 seconden
Look, ChatGPT. Look and see. Talk, ChatGPT. Talk to humans.
No, we’re not talking about a 21st century twist on the classic Dick and Jane. The makers of ChatGPT are now giving the artificial intelligence tool the ability speak and see. ChatGPT’s parent company, OpenAI, is planning to roll out the updated artificial intelligence to paying customers in the coming weeks. We humans discuss the changes. Then, we hear about a standoff over territory in the South China Sea.
26-9-2023 • 6 minuten, 48 seconden
Spotify CEO: We will not ban AI-created music
From the BBC World Service: Spotify dominates the music streaming landscape, but they’re not about to ban AI-created content. That’s according to its founder and CEO, Daniel Ek, who has been speaking exclusively to the BBC. Additionally, officials in the Philippines have told the BBC that they won’t be daunted by Beijing in a territorial stand-off in the South China Sea, and they have now removed a floating barrier installed by China to block fishing boats. The BBC’s Laura Bicker reports from the island of Palawan.
26-9-2023 • 7 minuten, 31 seconden
Video game characters also consider going on strike
President Joe Biden will join picketing autoworkers in Michigan today, while former President Donald Trump is slated to visit tomorrow. More labor organizing news also broke overnight: Members of SAG-AFTRA have voted to authorize a strike against 10 major video game companies. Then, Ford pauses construction on a battery plant site. Plus, what exactly does it mean to have a “partial government shutdown”?
26-9-2023 • 8 minuten, 16 seconden
Why fixing your car may soon get harder
The United Auto Workers union has expanded its strike to include some parts distribution centers. The move will impact car companies, car dealers and customers alike. We take a closer look. Then, we explore the mounting pressures brought on by higher interest rates that consumers looking to buy homes or cars are facing.
25-9-2023 • 7 minuten, 56 seconden
Tentative deal reached on the Hollywood writers strike
The Writers Guild of America reached a proposed contract agreement with Hollywood studios over the weekend. While union members still need to ratify the deal, we’ll dig into the latest developments. Then, a Senate bill could make it easier for legal cannabis businesses to access banking services. And later: the unintended consequences on Russians using crypto.
25-9-2023 • 8 minuten, 11 seconden
Evergrande’s rescue plan runs into trouble
From the BBC World Service: Shares in the Chinese property giant Evergrande have plunged after it said it’s unable to issue new debt, because its subsidiary, Hengda Real Estate Group, is being investigated. Plus, Screenwriters in the U.S. are finally on the brink of ending their nearly five-month long strike — their union has reached a tentative deal with studio bosses. Then, cork or screw top? As the wine industry focuses on sustainable materials, cork is back in demand, helped by an innovation that has solved the problem of “corked” wine. And later: The world’s largest toymaker, Lego, has hit a brick wall in its quest to be more eco-friendly.
25-9-2023 • 7 minuten, 39 seconden
Why Americans keep buying British soccer teams
The owner of the Everton soccer club in England’s Premier League has agreed to sell the Liverpool-based team to an investment group based in Miami. If approved, it would mean Americans own 10 of the 20 clubs in the world’s most lucrative soccer league. What’s behind the surge in Yankee investment? Then, we examine how to combat both poverty and the climate crisis.
22-9-2023 • 6 minuten, 15 seconden
The government is spending less on kids. That comes with a cost.
During the pandemic, federal subsidies kept many child care facilities afloat. But that aid will begin to disappear at the end of the month. Meanwhile, federal spending on kids has generally fallen. We examine the impact on children and families. We’ll also do the numbers on a potential government shutdown. And later: a kid-friendly guide to tipping.
22-9-2023 • 6 minuten, 25 seconden
Activision Blizzard deal back on
From the BBC World Service: The United Kingdom is set to clear a fresh Microsoft-Activision deal. In August, the “Call of Duty” maker agreed to sell its streaming rights to Ubisoft Entertainment and the U.K.’s regulator, the Competition and Markets Authority has now said this “substantially addresses previous concerns.” Energy giant Chevron and unions have struck a deal to end strikes at two large liquefied natural gas facilities in Australia. The industrial action had threatened to disrupt exports of LNG. Plus, it was all about interest rates this week: Which central banks would up them or hold them? We look at some of those big decisions.
22-9-2023 • 7 minuten, 7 seconden
UAW threatens to expand strike
Almost a week into the autoworkers strike, there are few signs of progress. If little movement is made by tomorrow, the United Auto Workers union is promising to expand their strike. We look at the impact this could have. We also examine why more companies are going private and hear how one Skid Row nonprofit is grappling with a dip in volunteerism.
21-9-2023 • 8 minuten, 15 seconden
Hold steady. Wait and see. For now.
That seems to be the current approach by the Federal Reserve as it aims for a 2% inflation target. The central bank opted to leave interest rates unchanged yesterday, but what about the path forward? We dive in. Plus, TikTok drives “frenzies” of antisocial behavior, a BBC analysis shows. And later: a view of tipping from the United Kingdom.
21-9-2023 • 8 minuten, 20 seconden
Poland’s grain row with Ukraine escalates
From the BBC World Service: Poland has been one of Ukraine’s staunchest allies since Russia’s full scale invasion last year — welcoming more than a million refugees and helping to supply a stream of weapons. But now it says it will no longer supply its neighbour with arms in a row over grain imports. Plus, Tesla is eyeing expansion in India but how ready is the country’s charging infrastructure for a big electric vehicle push?
21-9-2023 • 6 minuten, 30 seconden
To tip or not to tip?
Expectations around tipping have evolved in the last couple of years. So how much should you be tipping these days? What about for dine-in versus takeout or delivery? And why does tipping stir up such strong emotions? We answer these questions — no tip required. But first, it’s decision day for the Federal Reserve. We preview today’s interest rate announcement, as well as the Fed’s economic projections.
20-9-2023 • 10 minuten, 11 seconden
The climate crisis will make housing affordability even worse
The price of insurance premiums are not keeping up with the amount of risk homeowners face as the climate crisis plays out. A price correction is coming, a new report finds, and it’ll push housing affordability further out of reach. And later: How does tipping in South Korea compare to the United States?
20-9-2023 • 8 minuten, 6 seconden
Japan’s fish exports plummet as China ban bites
From the BBC World Service: Japan’s fishing exports plummet 70% after China banned imports over the release of treated radioactive water from the Fukushima power plant, the BBC’s Mariko Oi reports. The United Kingdom is considering delaying a ban on the sale of new gasoline and diesel cars, watering down its green ambitions. Finally, Venice is set to introduce a daily tourist levy in an attempt to reduce the number of day-trippers to the city, the BBC’s Giovanna Girardi reports.
20-9-2023 • 6 minuten, 15 seconden
Reframing how we think about tips
The legacy of a tipped minimum wages means that a worker can be paid as little as $2.13 an hour at the federal level. We’ll explore how COVID upended the tip-based restaurant industry and where we go from here. We also examine where the Federal Reserve thinks the economy is headed. Plus, rising oil prices is not what many global economies needs right now.
19-9-2023 • 7 minuten, 39 seconden
Strong economic headwinds are buffeting the Fed
The central bank starts a two-day meeting on interest rates today, but significant headwinds are blowing. We’ll assess the biggest factors challenging the Federal Reserve right now that could threaten the economic balancing act it’s trying to pull off. And later, we delve into the “ugly and sordid” history of tipping in the U.S.
19-9-2023 • 6 minuten, 50 seconden
Japan firms cut ties with boyband agency over sex abuse
From the BBC World Service: It’s the sexual abuse scandal that’s rocked Japan, now the BBC’s Mariko Oi reports on the major brands that are cutting ties with the country’s biggest talent agency, Johnny and Associates. Plus, was the Libyan dam disaster caused by nature or neglect? The BBC’s Anna Foster is in Derna.
19-9-2023 • 6 minuten, 26 seconden
Islamic home financing opens the door to homeownership
While homeownership has been a reliable way for families to build wealth in the U.S., the path to homeownership is more complicated for many observant Muslims. Paying interest — like you would in a traditional mortgage — goes against Islamic rules governing finance. Now, more institutions are offering Islamic financing to meet what they see as growing demand. Plus, what happens if the UAW strike grows?
18-9-2023 • 6 minuten, 26 seconden
The UAW is taking aim at temp workers
Striking auto workers and Detroit automakers failed to reach a deal this weekend. One sticking point for members of the United Auto Workers union is the reliance on temporary and “tiered” workers by carmakers. How did the industry get here? Plus, a look at what’s behind the current rush to invest in gold.
18-9-2023 • 7 minuten, 24 seconden
Italy’s migrant crisis is “unsustainable”
From the BBC World Service: Small Italian islands off the coast of North Africa are struggling to cope with the influx of migrants, according to the Italian government. The BBC’s Katya Adler reports from the island of Lampedusa. Meanwhile, Japan’s government is facing criticism for failing to appoint a single woman to any junior ministerial roles in the latest cabinet reshuffle, despite 54 jobs being available. The BBC’s Will Leonardo reports. And in the United Kingdom, the BBC’s Leanna Byrne visits a gold merchant after the price of gold reaches all-time highs this year.
18-9-2023 • 7 minuten, 27 seconden
The future of the auto industry
The UAW started a limited strike today at all three big automakers in the U.S. But this strike is about more than fair wages and benefits — the future of American-made cars, and how soon they can go electric, hangs in the balance. Plus, media mogul Byron Allen has offered Disney $10 billion for ABC. We’ll talk about why CEO Bob Iger might be inclined to take the deal.
15-9-2023 • 7 minuten, 13 seconden
The danger of VC-backed insurance
A new trend in health-tech start-ups is to offer low premiums for insurance coverage and burn through billions of venture capital to stay in the green. When they crash, these firms leave customers without a way to access care or medication. Do regulators need to crack down? Plus, some public universities up their tuition and the UAW goes on strike.
15-9-2023 • 8 minuten, 4 seconden
France’s Carrefour flags ‘shrinkflation’
From the BBC World Service: Have you noticed products that you buy getting smaller, while the price remains the same? It’s called “shrinkflation” and French supermarket giant Carrefour is putting labels on such goods to alert customers to it. The World Health Organization is warning that survivors of flooding in Libya remain in danger from contaminated flood water and a lack of medical supplies. It’s Friday, but how do you have a night out in a war zone? Russia launched its full-scale invasion of Ukraine a year and a half ago, and Ukrainians have had to change every part of their lives to deal with the assault. That includes how they spend their downtime.
15-9-2023 • 7 minuten, 54 seconden
Is the “last mile” of inflation actually the hardest?
The Wall Street Journal, Bloomberg and even banks themselves have said the “last mile” of inflation will be hardest to beat. But research doesn’t really shows that. So what’s with the hype? Plus, chip designer Arm’s valuation is officially $54 billion, making it the biggest IPO of the year. We’ll also hear about Americans over 60 who still owe student loans.
14-9-2023 • 6 minuten, 45 seconden
Car repairflation
One spending category that is seeing inflated costs compared to last year, according to the August CPI, is motor vehicle repairs. We’ll visit a mechanic to find out why. Hint: New car parts are a lot more expensive than they used to be. Plus, tech giants met with congressional leaders to talk AI regulations and some C-suite execs see climate change disruptions as, frankly, not their problem.
14-9-2023 • 7 minuten, 26 seconden
Protests erupt in Syria
From the BBC World Service: The long-running civil war in Syria has led to fresh protests over the country’s crumbling economy; extreme inflation and a lack of basic supplies has pushed thousands to take to the streets. A major Australian property developer has apologized after calling for unemployment to rise in Australia by 50% so that people are reminded that they work for the employer — not the other way around. This weekend, Singapore plays host to Formula One’s night race and organizers have pledged to halve energy emissions by 2028. The F1 Group is aiming for net zero by 2030.
14-9-2023 • 8 minuten, 5 seconden
Are the arts a worthwhile investment?
Waterville, Maine used to be home to a factory and mill. But when jobs left, the economy suffered. Now, Waterville’s Colby College is spending millions to transform the town into a haven for performing and visual arts. Will their investment pay off? Plus, gas prices spiked August inflation calculations, but that doesn’t spell bad news for the overall economy.
13-9-2023 • 7 minuten, 54 seconden
Out with the old, in with the flu
Consumers spent $1.8 billion last year on decongestants, but next year might look different. Phenylephrine, a key ingredient found in most oral decongestants, was recently found to have zero efficacy. Basically, when it comes to un-stuffing your nose, it’s just as good as a sugar pill. Plus, video game developers in China are experimenting with AI and two states’ pension funds are suing Fox.
13-9-2023 • 8 minuten, 9 seconden
US investors target another English soccer club
From the BBC World Service: American interest in the top level of English soccer continues. Miami investment firm 777 Partners is in talks to buy Everton, based in the city of Liverpool. If the deal goes through half of the clubs in England’s Premier League will have U.S.-based owners. Plus, Bernard Looney, chief executive of oil major BP, has resigned abruptly amid a review of his personal relationships with colleagues. And, why French regulators are worried about radiation levels from the iPhone 12.
13-9-2023 • 7 minuten, 29 seconden
We don’t pay teachers enough
Only a third of teachers think their salary is adequate, according to a recent survey. Could raises be key to keeping teachers from quitting? Plus, the New York Fed says pessimism about credit, income, and the odds of getting laid off or fired is up. We’ll discuss why that gloomy outlook doesn’t match official reports of strong employment and cooling inflation.
12-9-2023 • 7 minuten, 46 seconden
What does it take to fix Main Street?
In 2010, “Marketplace Morning Report” host David Brancaccio featured his hometown in a documentary about better ideas for the economy. It opened the film as an example of a place sorely needing solutions. A dozen years later, Waterville, Maine is experiencing the benefits of reinvestment. We’ll talk about how. Plus, Google’s antitrust trial begins today.
12-9-2023 • 7 minuten, 16 seconden
The biggest company you’ve never heard of is set to join the Nasdaq
From the BBC World Service: U.K.-based Arm Holdings is set to launch on the Nasdaq this week. BBC’s Simon Jack explains why they’re probably the biggest company you’ve never heard of. Plus, caterers are facing increasing pressure to host extravagant weddings due to social media, as BBC’s Elizabeth Hotson reports.
12-9-2023 • 6 minuten, 59 seconden
SNAP’s work requirement age just went up
Adjustments to SNAP — part of debt ceiling negotiations earlier this year — will start phasing in soon. Among them is a higher age cutoff for work requirements, which will go from 49 to 54 by 2024. Hundreds of thousands may lose SNAP benefits. Plus, UPS and FedEx rate hikes signal a back-to-normal supply chain, and we’ll recap Biden’s visit to Vietnam.
11-9-2023 • 7 minuten, 7 seconden
Paying the way to market dominance
Did you know that Google pays other tech companies billions to remain the default search engine? The Justice Department says that’s abuse of monopoly power, but Google maintains it’s normal practice in the tech industry. Tomorrow, the antitrust trial begins. Plus, the UAW is just days away from a possible strike.
11-9-2023 • 7 minuten, 18 seconden
Devastation in the Atlas Mountains
From the BBC World Service: As the death toll mounts following the earthquake in Morocco, businesses in Marrakesh are asking tourists not to turn their backs on them. The BBC’s Anna Holligan reports from Marrakesh. Also, with President Biden visiting, Vietnam has ordered $8 billion worth of jets from Boeing. Finally, Vivienne Nunis reports from Manchester, England, where the world’s best florists have congregated for the World Cup of Flowers.
11-9-2023 • 7 minuten, 30 seconden
Little hints from the Fed
Federal Reserve officials are keeping a low profile ahead of its upcoming meeting on interest rates. But some economists are playing detective — following the crumbs central bankers have left and trying to deduce whether rates will go up again. Plus, while U.S. office spaces remain empty, things look different Singapore. We’ll visit a business district during the lunch rush.
8-9-2023 • 7 minuten, 30 seconden
President Xi skips G20, China broadens iPhone ban
China’s president Xi Jinping won’t be at this weekend’s G20 summit in India. Could his absence be due to geopolitical tensions or economic troubles at home? We’ll check in with Marketplace’s China correspondent Jennifer Pak. Plus, Apple feels the fallout from further iPhone bans for Chinese government employees and the services sector has a sunny economic outlook.
8-9-2023 • 7 minuten, 59 seconden
Workers at LNG projects go on strike
From the BBC World Service: Workers are striking at Chevron Australia Liquid Natural Gas projects. The action could disrupt output from facilities that account for over 5% of global supply. Indian authorities have come in for criticism over efforts to spruce up the capital Delhi ahead of the G20 meeting this weekend. Unlike in the U.S., workers in Singapore have been returning to the office en-masse and city centers are booming. In London, 140,000 people have visited Sotheby’s auction house to view items that belonged to the late Queen singer, Freddie Mercury; his piano and handwritten lyrics have sold for millions.
8-9-2023 • 8 minuten, 26 seconden
No more iPhones for Chinese government officials
China has barred government officials from using foreign-branded devices, according to the multiple published reports. Is the move because China’s own smartphone company is catching up to U.S.-designed ones, or is it a result of still-icy U.S.-China trade relations, especially when it comes to tech? Plus, as part of this week’s global look at real estate, we’ll visit Mumbai.
7-9-2023 • 7 minuten, 46 seconden
Cracking down on stolen wages
Wage theft — employers paying less than the minimum for time worked — is believed to be extremely common across the U.S. Often, rules against it are hard to enforce. We’ll visit one county that’s tackling the issue by putting food permits on the line for restaurant owners who won’t pay up. Plus, Google has new political advertising AI rules and 74 million Americans will gamble on NFL games this season.
7-9-2023 • 7 minuten, 29 seconden
Can Deezer shake-up the streaming model?
From the BBC World Service: French streaming platform Deezer and Taylor Swift’s label Universal Music have agreed a new plan for the way artists receive royalties. It’s based on the idea of prioritizing professional musicians over amateurs, and streams of ambient sound and white noise. As Deezer puts it: Harry Styles deserves a bigger reward than the sound of a washing machine. But will it shake-up the market? We speak to Deezer’s chief operating officer Gitte Bendzulla. Plus, earlier this week we looked at how working from home had changed an office district in London. Today we’re off to India where the software company Zoho is trialling what you might call ‘working from the village’. The idea is to help employees enjoy a more affordable lifestyle whilst also boosting rural communities.
7-9-2023 • 11 minuten, 14 seconden
What does your car know about you?
A new study from the Mozilla Foundation is looking at what types of data carmakers collect, and how they use it. It’s one thing if your car can guess what music you like, but its another for it to have medical information. How much is too much? Plus, a look at how empty office spaces are being repurposed in New York City.
6-9-2023 • 7 minuten, 4 seconden
IPO temperature check
Recession concerns, the war in Ukraine and more have prevented companies from going public for a while. Those risks, while not gone, are now old news. Could it be the perfect time for chip company Arm to launch its initial public offering? It could shock the IPO market out of a sluggish period. Plus, JCPenney is getting a billion dollar remodel. We’ll hear from its CEO.
6-9-2023 • 7 minuten, 32 seconden
Taking on the tech giants
From the BBC World Service: Services run by the world’s biggest tech companies are a part of everyone’s daily lives, but governments have been playing catch up when it comes to regulating their power. Today the European Union will publish a list of companies, known as gatekeepers, that will be subject to new rules aimed at encouraging competition and stopping big players from crushing smaller rivals. Plus, are you a fan of K-pop? It’s now estimated the industry earns South Korea around $10 billion a year. But it’s not just famous bands like BTS that are turning K-pop into a valuable export. Choreographers behind the dances are quickly gaining a following well beyond South Korea’s borders.
6-9-2023 • 6 minuten, 53 seconden
Cloudy with a chance of recession
While a recession isn’t completely out of the question, the odds are certainly shrinking. We’ll do the economic forecast with Julia Coronado, president and founder of MacroPolicy Perspectives. Plus, a visit to London where remote work is changing the landscape of a district that used to be bustling with bankers.
5-9-2023 • 6 minuten, 33 seconden
Can green investing change the world?
In recent years, ESG funds — that’s environmental, social, government funds — have become popular for investors who are concerned about the impact of their portfolio beyond the bottom line. But could investing in green tech or net zero initiatives really help the fight against climate change? We’ll also look at women’s workforce participation and Spectrum’s clash with Disney.
5-9-2023 • 6 minuten, 57 seconden
Can Turkey broker a deal with Russia to re-open grain shipments?
From the BBC World Service: Russian President Vladimir Putin has said that the landmark Black Sea grain deal with Ukraine will not be restored until the West meets Moscow’s demands on its agricultural exports. BBC’s Victoria Craig joins us from Ankara in Turkey to discuss the latest developments. Also, Sarah Dalton, Head of the Doctors’ Union in New Zealand, explains why thousands of her members are going on strike for the first time ever. Finally, the BBC’s Leanna Byrne explores the impact of post-pandemic home working.
5-9-2023 • 6 minuten, 24 seconden
25 years of Google: the brand so big it became a verb
From the BBC World Service: Google was founded 25 years ago today. We hear from Elizabeth Linder, who started her career at Google and later became an executive at Facebook. Also, BBC’s senior Africa correspondent, Anne Soy, reports from Kenya, where African heads of state are gathering to discuss the continent’s approach to climate change. And finally, BBC’s Leanna Byrne reports on long queues for Italian cabs after the taxi drivers’ unions resist reforms aimed at increasing licenses.
4-9-2023 • 7 minuten, 32 seconden
Video games for all!
In the spring, “Marketplace Morning Report” host David Brancaccio visited Gameheads, a video game developing and mentorship program in the Bay Area. We’ll travel back for their end of summer celebration and hear what students have been working on, including projects that explore gentrification, LGBTQ relationships and emotional wellbeing. Plus, support for labor unions is up in the U.S.
4-9-2023 • 7 minuten, 1 seconde
Labor unions mean better wages for all
This Labor Day, we’re looking at a new report from the Treasury department about the impact of labor unions on wages. The report found union membership boosts pay 10-15%, and gains can be even more significant for underrepresented groups. After that, we’ll do the odds of an economic soft landing, and travel to Italy, where getting a cab is becoming impossible.
4-9-2023 • 6 minuten, 54 seconden
Skin in the Game: Lessons from the video game industry
Video games are bigger than movies and music combined. What can the games — and the vast industry that surrounds them — teach us about economics, business, money and careers? We set out to answer this question by talking to folks inside the industry, as well as those trying to break into it. We visited the nonprofit mentoring program in Oakland, California, called Gameheads where, starting in high school, people go from playing video games to making them. Follow along with our podcast here, and then go check out our “Skin in the Game” immersive video series on YouTube. That goes behind the scenes to look more closely at how young people can crack into this industry. You can see the games we’ve been discussing, along with the game developers that built them.
1-9-2023 • 25 minuten, 7 seconden
The “good kind” of unemployment increase
New hiring data out today shows an increase in unemployment, but more Americans heading into the work force. Plus, a judge blocks an Arkansas law that would require proof of age for social media accounts, and an AI pop star raises copyright concerns.
1-9-2023 • 7 minuten, 1 seconde
Could secondhand shopping ever beat out fast fashion?
Fans have flocked to fast fashion retailers for their one-and-done summer tour outfits, but there’s a growing eco-friendly movement to shop secondhand. Plus, climate change drives up construction costs, and the launch of our new “Skin in the Game” podcast following the multi-billion-dollar video game industry.
1-9-2023 • 6 minuten, 54 seconden
Paris bans rented e-scooters
From the BBC World Service: A ban on electric scooters for hire has come into force in Paris. It follows a referendum in April in which residents of the French capital voted to remove them. If nothing is done to redress Africa’s huge debt burden, the consequences will be felt far outside the continent, according to a report from NGO, the ONE campaign. A major music label has signed a digital pop star, Noonoouri, whose voice has been made with the help of artificial intelligence; so what are the implications for the music industry?
1-9-2023 • 6 minuten, 47 seconden
Inflation could be sticking around
The Fed uses the PCE index as its preferred measure of inflation. July’s just came out and, unfortunately, inflation seems here to stay for a bit. Plus, Switzerland is trying to shake its reputation as a place for shady money practices, and Best Buy swears electronics demand will be on the upswing soon, despite experiencing a year of low sales.
31-8-2023 • 9 minuten, 3 seconden
What’s so good about PCE?
You probably know about the CPI, which reports of changes in average prices for different goods. But the Fed is more interested in the PCE index — personal consumption expenditure — which tracks consumer spending plus money spent on behalf of consumers. For example, what you spend on healthcare plus what your insurance company spends. That comes out today. Plus, Biden wants to make more workers eligible for overtime pay.
31-8-2023 • 8 minuten, 50 seconden
Credit Suisse collapse gives UBS a major boost
From the BBC World Service: Think back to the spring — the collapse of Silicon Valley Bank sent shockwaves through the sector, eventually rippling out to Europe and contributing to the end of Credit Suisse. Its rival UBS swooped in, acquiring it through a $3 billion government-backed bailout. UBS has now reported the biggest ever quarterly profit for a bank — a $29 billion gain linked to the takeover. But it’s still pressing ahead with some major cutbacks. Plus, we take a look at the latest gloomy data on the state of China’s economy. And, how are tourist businesses on the Greek island of Rhodes faring after last month’s wildfires?
31-8-2023 • 7 minuten, 49 seconden
Eviction or not, these tenants are being pushed out
Evictions are up, which can cause all sorts of health, job and education-related problems. But some renters don’t even get to have their day in court, thanks to landlords who illegally pressure tenants to move. Plus, Commerce Secretary Raimondo wraps up her “productive” visit to China, and Hurricane Idalia forced offshore oil platforms to evacuate.
30-8-2023 • 8 minuten, 16 seconden
What’s a fair price for blood thinners?
For the first time, Medicare will get to decide the “fair” price for certain medications, and then can negotiate with pharmaceutical companies to bring drug prices down. The first ten drugs under review were just announced. But could lower prices get in the way of medical innovation? Plus, the FDIC wants major regional banks to take on more long term debt.
30-8-2023 • 8 minuten, 14 seconden
The route most travelled: How migrants are making their way to Europe
From the BBC World Service: The BBC joins the Tunisian Coast Guard as the route from the north African country to Italy becomes the busiest route for migrants into Europe. Meanwhile, army officers have declared control over the oil-rich country Gabon. The BBC’s Africa Editor Will Ross explains what impact this could have. Finally, house sales in the U.K. fall by 20 percent in a month. We hear why from Aneisha Beveridge from Hamptons, a U.K.-based estate agency.
30-8-2023 • 8 minuten, 47 seconden
Who’s gonna build a renewable energy grid?
Biden’s Inflation Reduction Act allocated a big lump of money for expanding renewable energy sources. But it doesn’t guarantee that the U.S. has enough people willing and able to actually manufacture and implement clean energy infrastructure. Plus, the FDIC will consider new bank stability rules, and American exports could benefit from stronger U.S.-China relations.
29-8-2023 • 8 minuten, 9 seconden
A new-and-improved FAFSA
College-bound students (and their parents) know how complicated it is to complete the FAFSA. But with college costs rising, students need Pell Grants and financial aid now more than ever. Good news for them: A more streamlined FAFSA will be available in December. Plus, why startups are pivoting to a new fundraising avenue.
29-8-2023 • 9 minuten, 16 seconden
London puts a price on pollution as it expands its ultra low emission zone
From the BBC World Service: London has today expanded its ultra-low emission zone (ULEZ), which is designed to clean up air quality in the British capital. The BBC’s Olie D’Albertanson explains the financial knock-on effect for those living and working there. We also hear from Frank Levin, a former U.S. under-secretary of commerce for international trade, on the efforts being made to restore relationships with China. Lastly, the BBC’s João da Silva reports on concerns over gas price rises, with workers at two large liquefied natural gas plants in Australia going on strike in a week.
29-8-2023 • 8 minuten, 34 seconden
Relief, and some uncertainty
Julia Coronado, president and founder of MacroPolicy Perspectives, says relief and uncertainty were in the air at last week’s Jackson Hole Economic Symposium. While signs point to positive progress when it comes to inflation and resilience, economists are still cautious. Plus, an oversupply of salmon in Alaskan fisheries has been bad for business.
28-8-2023 • 7 minuten, 55 seconden
4-day workweek, full-time pay
United Auto Workers voted to authorize a strike on Friday if the big three Detroit automakers don’t meet their demands. Those include wage bumps, pension benefits and transitioning to a four-day work week without taking a pay cut. But how’s that related to the rise of EVs? Plus, Commerce Secretary Gina Raimondo aims to strengthen economic ties with China, and wine sales boom in Lebanon.
28-8-2023 • 8 minuten, 48 seconden
China’s Evergrande stock plunges 87% as trading resumes
From the BBC World Service: China Evergrande Group’s shares resumed trading on Monday after a lengthy suspension, and investors in the real estate organisation took the chance to withdraw their money — the BBC’s Asia correspondent Mickey Bristow explains why. Plus, Lebanon is in the midst of a huge economic crisis: Inflation is in triple figures and the banking system has collapsed, but the wine industry is booming.
28-8-2023 • 8 minuten, 31 seconden
A carbon… vacuum cleaner?
For years, companies have tried to invent tech that would make carbon capture viable. We’ll hear from Vijay Vaitheeswaran, global energy and climate innovation editor at The Economist, about the latest innovations in the field. Plus, Powell is set to kick off the Jackson Hole symposium, and the EU’s Digital Services Act goes into effect today.
25-8-2023 • 1 minuut, 30 seconden
In U.S. Steel sale, does the union get a say?
The United Steelworkers Union says they get to veto any buyer of U.S. Steel, and have a clear favorite contender. U.S. Steel says the union doesn’t have that power. We’ll get into the nitty-gritty of what might happen, including a strike. Plus, Subway got purchased by a private equity firm and and an ESPN live streaming deal that doesn’t require cable is in the works.
25-8-2023 • 7 minuten, 57 seconden
New EU rules to keep tabs on tech titans
From the BBC World Service: The European Union’s Digital Services Act is coming into force today and some of the world’s tech giants will be directly affected. The world’s largest computer and video games festival, Games Com is wrapping up this weekend and a lot of the talk’s been about nostalgic titles and the possible take over of Activision Blizzard by Microsoft. The international leg of Taylor Swift’s Eras tour has kicked off in Mexico City. She’s on track to make one billion dollars from the tour, which would make it the highest-grossing series of concerts in history.
25-8-2023 • 8 minuten, 8 seconden
New York City’s Airbnb crackdown is coming
Inside New York City’s looming Airbnb crackdown. Plus, NVIDIA’s gangbusters earnings report, Japan’s controversial discharge of radioactive waste water, and a check-in with struggling Chinese job seekers.
24-8-2023 • 11 minuten, 6 seconden
A new plan to prevent airplane collisions
Following a troubling report on near-miss airplane accidents, the FAA is spending $120 million to help reduce the risk of collisions on airport runways. Plus, the bidding war for Yellow’s former trucking terminals, how businesses can better prepare for climate change, and New York’s coming crackdown on Airbnb rentals.
24-8-2023 • 8 minuten, 34 seconden
Japan releases radioactive Fukushima water
From the BBC World Service… Japan has started to release radioactive water from its stricken Fukushima nuclear plant into the Pacific Ocean, sparking protests domestically and internationally. India’s moon rover has taken its first steps on the lunar surface a day after the country made history by becoming the first to land near the south pole. How much trouble is China’s economy in? Prices have begun falling, exports are down and youth unemployment has risen above 21%.
24-8-2023 • 9 minuten, 45 seconden
Tech stocks rally, thanks to AI
The AI boom has driven up tech stocks this summer, meaning analysts are optimistic for chip maker NVIDIA’s earnings report earnings later today. But how much higher can tech stock get? Plus, a recent poll says one in three Israelis are considering emigration. We’ll hear from our partners at the BBC about potential economic consequences.
23-8-2023 • 9 minuten, 2 seconden
Writer’s strike update
The Writer’s Guild of America is over 100 days in to a strike for updated wages, AI contract stipulations, higher streaming residuals and more. Still, a deal with the AMPTP doesn’t seem close. Plus, China’s troubled property sector has caused an economic slowdown and tremendous amounts of debt for local governments.
23-8-2023 • 8 minuten, 53 seconden
India imposes a 40% export duty on onions
From the BBC World Service: India, the world’s largest onion exporter, has imposed a 40% export duty on onions. It’s an attempt to improve domestic availability and rein in soaring food price inflation. Israel’s political lurch to the right and its controversial plans to overhaul the justice system could be starting to have a direct impact on its population, with one in three Israelis now thinking of emigrating. India could make history if its third lunar mission successfully touches down near the moon’s south pole.
23-8-2023 • 8 minuten, 13 seconden
Could there be an AI bubble?
News just came that chip firm Arm will go public, with a focus on using its products to assist the AI boom. But with all this money being thrown at relatively new tech, should investors worry it’s too much, too fast? Plus, a lesser-known economic indicator: How much money does it take for people to change jobs?We’ll also hear from the BBC how the Microsoft Activision acquisition is going across the pond.
22-8-2023 • 8 minuten, 38 seconden
At AMC, no more “preferred” stocks
Some companies have preferred and common stock options — sorta like the difference between cushy reserve-ahead recliners and run-of-the-mill seating at a movie theater. AMC has both types, but just worked out a deal to consolidate them all to the regular kind. We’ll dive into why. Plus, chip companies want to integrate AI and China thwarts U.S. semiconductor ambitions.
22-8-2023 • 8 minuten, 58 seconden
Will Microsoft’s Activision Blizzard deal finally get done?
From the BBC World Service: Microsoft has filed changes to its proposed takeover video game maker, Activision Blizzard, in an attempt to win over the U.K. competition regulator, which previously blocked the $69 billion deal. The BRICS group of developing economies — Brazil, Russia, India, China, and South Africa — are meeting in Johannesburg for their annual summit. Expanding membership and de-dollarization are both high on the agenda. Jakarta is the world’s most polluted city; the air quality is so bad, that from today, thousands of civil servants will work from home for the next two months.
22-8-2023 • 9 minuten, 43 seconden
What’s with unlimited PTO?
Increasingly, companies are offering unlimited paid time off. Some say it makes them more competitive in the hiring market, but labor experts think the practice has pitfalls. Plus, Brazil, Russia, India, China and South Africa — “BRICS” — are holding their first in-person summit since the pandemic began, and the credit quality of the banking industry is down.
21-8-2023 • 8 minuten, 46 seconden
Sustainable urban solutions
Despite being a hub for forward-thinking tech companies, San Francisco has struggled with pandemic recovery. Now, the World Economic Forum, Salesforce and Deloitte are teaming up to generate sustainable project ideas that might improve the city’s economic situation. Plus, we’ll hear about global wealth inequality and the state of women’s soccer, post-Spain’s World Cup 2023 win.
21-8-2023 • 9 minuten, 30 seconden
China cuts key interest rate as recovery falters
From the BBC World Service: China’s economy hasn’t bounced back from the pandemic and now its central bank is stepping in, cutting one of its key interest rates for the second time in three months. Protests over economic hardship in Syria’s southern province of Sweida are continuing and there are calls for President Bashar al-Assad to step down. As the most successful Women’s World Cup finishes, the infrastructure and facilities for the women’s game lags behind the enthusiasm.
21-8-2023 • 9 minuten, 52 seconden
Who wants to work in tourism?
A worker shortage in Croatia has employers scrambling. It’s the busy season for tourism, which is the country’s biggest industry, so many places that used to hire seasonal workers from adjacent countries are now recruiting from Asia. Plus, Evergrande files for U.S. bankruptcy protection and mortgage rates are high.
18-8-2023 • 8 minuten, 22 seconden
The business of college soccer
Two-thirds of the teams competing in the 2023 women’s World Cup have at least one player that trained at a U.S. college. We’ll talk about why the college system is crucial for supporting women’s soccer at an international level. Plus, a Chinese real estate giant files for U.S. bankruptcy protection, and 30-year mortgage rates are at a 20-year high.
18-8-2023 • 8 minuten, 44 seconden
Evergrande files for bankruptcy protection
From the BBC World Service: Chinese property giant Evergrande has filed for bankruptcy protection in the U.S. This allows the company, which is swimming in debt, to safeguard its assets in the U.S. The Women’s World Cup soccer tournament has been the most watched in history, giving a huge boost to hospitality spending. Tourism is Croatia’s largest industry and increasingly tourists are being served by workers who’ve travelled thousands of miles themselves, as businesses turn to Asia to solve staff shortages.
18-8-2023 • 7 minuten, 52 seconden
A 10 year crystal ball
The yield on the 10-year Treasury note — that’s the return you get from investing in one — has hit a high not seen since 2007. We’ll talk about what this could be predicting about the future of interest rates and the economy in general. Plus, the minutes from last month’s Fed meeting, and a rise in the popularity of all-inclusive resorts.
17-8-2023 • 8 minuten, 13 seconden
The cost of the Maui fire
Accuweather has predicted the economic toll of the wildfires that ripped through Maui last week could be as high as $16 billion. That’s a combination of home and job losses, structural damage, the mental and physical effects on residents and more. Before that: Why new home construction could slow, and what Fed chair Jerome Powell might say at the upcoming Jackson Hole Symposium.
17-8-2023 • 9 minuten, 9 seconden
Tomatoes off the menu at Burger King
From the BBC World Service: Burger King has scrapped tomatoes from wraps and burgers in Indian outlets after prices more than quadrupled. McDonalds and Subway in India have also taken tomatoes off the menu due to soaring costs. The Panama Canal has extended restrictions on vessels as it battles an on-going drought; maritime firms say this adds delays and extra fees, inflating shipping costs. All inclusive holidays are growing in popularity, with Marriott and Hyatt expanding their offerings.
17-8-2023 • 10 minuten, 43 seconden
In Barcelona, a tourism paradox
Millions of people visit Barcelona every year, but residents are less than enthusiastic about living among tourists and some are being pushed out of their homes. Our partners at the BBC take us to Spain to hear about this economic dilemma. Plus, consumer spending from a few angles, and an explanation of why the Fed could cut interest rates sometime soon.
16-8-2023 • 8 minuten, 22 seconden
China’s deflation problem
While inflation and interest rates stay high in the U.S., China is suffering from the opposite problem: deflation. We’ll hear from Marketplace’s China correspondent Jennifer Pak about the problems that come with steeply falling prices, including layoffs and decreased consumer spending. Plus, the UAW could vote to authorize a strike next week, and Novo Nordisk can’t produce enough of their buzzy weight loss drugs.
16-8-2023 • 8 minuten, 38 seconden
Ralph Lauren under investigation in Canada
From the BBC World Service: Canada’s corporate ethics watchdog is investigating the local unit of the fashion retailer, Ralph Lauren, over accusations it used forced labour from China’s Uyghur minority in its supply chain. A year ago, President Biden signed the Inflation Reduction Act into U.S. law; but America’s first serious attempt to tackle the climate crisis has ruffled European feathers. And we look at why Barcelona is a victim of its own success, with the sheer volume of tourists creating problems.
16-8-2023 • 8 minuten, 36 seconden
The constitutional right to a clean environment
A group of young climate activists sued their home state of Montana over the right to a clean environment, as promised in state’s constitution. Yesterday, they won. Plus, China has stopped reporting its youth employment rate, retail sales were up higher than expected in July, and we board a cruise to hear about the industry’s bounce back from pandemic lows.
15-8-2023 • 9 minuten, 25 seconden
Are office districts obsolete?
In efforts to revitalize downtown areas during the era of remote work, some cities are refocusing from work to play. We’ll visit San Francisco, where the transition has been difficult. Plus, new bank regulations are coming in response to the banking crisis earlier this year, and some young people got into investing during the pandemic.
15-8-2023 • 8 minuten, 39 seconden
Afghanistan funding shortfall could lead to hunger
From the BBC World Service: The United Nations has warned that a huge shortfall in funding could lead to the collapse of the Afghanistan’s health system and widespread hunger. The cruise industry is making a post-covid comeback with American passengers accounting for 50% of global revenue. The CFO of Novo Nordisk explains why it’s limiting the global roll out of its weight loss drug Wegovy.
15-8-2023 • 9 minuten, 18 seconden
The cost of motherhood
August 15th is this year’s Mothers’ Equal Pay Day, which marks how far into 2023 moms had to work to catch up to what dads made in 2022. Black, Latina and Native women would have to work even longer. What could close the gap? But before that, we’ll look at stablecoin regulation and the Afghani women’s national soccer team.
14-8-2023 • 9 minuten, 7 seconden
Tensions in the Black Sea
From the BBC World Service: Ukraine has accused Russia of piracy in the Black Sea, alleging that a Russian warship fired on a cargo vessel near Turkey’s coast. The U.S.-based Miss Universe organization, which hosts beauty pageants around the world, has cut ties with Miss Universe Indonesia after local organizers were accused of sexual assault. We’ll also hear from some of the players on the Afghan national women’s soccer team who escaped to Australia following the Taliban takeover two years ago.
14-8-2023 • 8 minuten, 22 seconden
The key to Fresno’s future
In the aftermath of pandemic shutdowns, some cities are recovering better than others. One study put Fresno — a place that doesn’t tend to get the best PR — high on the most improved list. We’ll visit the California city to figure out what they’re doing right. Plus, U.S. Steel rejected a buyout bid from Ohio-based Cleveland-Cliffs.
14-8-2023 • 8 minuten, 48 seconden
No money? No problem
Hip-hop is a multi-billion dollar industry, but it wasn’t always that way. For the 50th anniversary of the genre, we’re looking at early entrepreneurs in the business — from a taxi company to a streetwear line. Plus, food prices are up more than inflation, and the IRS lost millions of tax records stored on microfilm.
11-8-2023 • 8 minuten, 25 seconden
Travel on climate change’s schedule
Thanks to upticks in extreme heat, wildfires, hurricanes and more, travelers are being extra choosy about where and when they vacation. Some are even planning travel to places that will soon be near-impossible to get to, thanks to climate change. Plus, an update on a Purdue Pharma settlement that would protect the Sackler family from civil suits, and a look at real estate troubles in China.
11-8-2023 • 9 minuten, 31 seconden
Rice prices highest in 12 years
From the BBC World Service: Rice prices have surged to their highest levels in almost 12 years, according to the United Nations’ food agency. India’s rice export ban and adverse weather conditions are the main culprits. Hip-hop is 50 years old; it all started in the Bronx and is now a multi-billion dollar global phenomenon. Saudi Arabia’s soccer Pro League is kicking off today; but is it going to be an expensive flash in the pan?
11-8-2023 • 7 minuten, 41 seconden
Off to the races
ESPN just made $2 billion in a deal with a casino company to put its name on their sports betting website and app. ESPN may be adding gambling to their portfolio because traditional revenue streams don’t cut it anymore. Plus, worker productivity is up — how come? We’ll also look at WeWork’s fizzle into likely closure, and what the July CPI means for rate hikes.
10-8-2023 • 10 minuten, 9 seconden
Why do collectors collect?
Is it about hoping to making a ton of money someday, or the satisfaction of having a full set? Collectibles expert Harry Rinker, also known as the Beanie Meanie, talks us through why so many people spent big on Beanie Babies and the risks of the collecting economy. Plus, airlines step in to fly people out of Maui during catastrophic wildfires.
10-8-2023 • 8 minuten, 52 seconden
China criticizes U.S. investment ban
From the BBC World Service: We look at the impact of a new U.S. policy that will seek to restrict American investment in Chinese tech, especially in sensitive technologies like computer chips. The aim is to ensure that U.S. cash does not support China’s military modernisation. Plus, as West African leaders meet again to discuss the coup in Niger we hear how it’s affecting life on the ground for people in the country. And, Cher has been selling her own ice cream around Los Angeles, the Cherlato. We speak to the New Zealand ice cream maker behind the brand, Giapo Grazioli.
10-8-2023 • 7 minuten, 54 seconden
No texting at work!
Federal regulators are cracking down on Wall Street traders using side-channels like text messaging and Signal to make deals and trades. Nearly a dozen firms will pay $549 million in fines. Plus, young people in China are looking for affordable housing solutions, and a new “biodiversity credit” could help heal ecosystems.
9-8-2023 • 8 minuten, 50 seconden
Got debt?
For the first time, credit card debt in the U.S. has hit $1 trillion. The record was hit thanks to a combination of inflation, high interest rates and Gen Z confidence. Plus, the Biden administration is expected to restrict U.S. firms from investing in certain kinds of China-based tech. We’ll also discuss diversity at a major upcoming economic conference.
Update (8/9/23): The story about diversifying the Kansas City Fed’s Economic Policy Symposium has been updated to accurately reflect Boston Fed President Susan Collins’ involvement. For more information, check out the story on marketplace.org.
9-8-2023 • 8 minuten, 51 seconden
Made in China: How the world’s second largest economy battles deflation
From the BBC World Service: China’s economy is facing a new challenge: deflation — which is a sustained decrease in prices. This could have a negative impact on economic growth and consumer spending. Stephen McDonnell, the BBC’s China Correspondent, explains what is going on and why it matters. Plus, leaders of eight South American countries have signed a joint declaration at a summit in the Brazilian city of Belém, aimed at cutting deforestation, but does it go far enough? The BBC’s Katy Watson reports from the meeting.
9-8-2023 • 8 minuten, 31 seconden
Campbell’s gets saucy
Campbell Soup Company recently acquired Rao’s, a high-end jarred sauce brand that has roots in an impossible-to-get-into New York restaurant. We’ll talk to their CEO about why the purchase was made. Plus, we visit Mexico City, home to an increasing number of remote workers, and Italy, where banks were just hit with a 40% windfall tax.
8-8-2023 • 8 minuten, 49 seconden
What happened to Yellow?
Yellow might have declared bankruptcy on Sunday, but some say the writing was on the wall for a decade. We’ll talk to a bankruptcy expert about why the nearly 100-year-old trucking company shut down, and what it could mean for supply chains. Before that, who bought Simon & Schuster, and what’s the deal with PayPal’s new digital currency?
8-8-2023 • 8 minuten, 55 seconden
Weaker global demand dents China’s exports
From the BBC World Service: China’s imports and exports fell more sharply than expected last month as weaker global demand threatened the recovery prospects of the world’s second-largest economy. Official figures show that exports fell by 14.5% in July compared with a year earlier — the worst performance since the start of the pandemic. Plus, Secretary of State Antony Blinken tells the BBC that Russia’s involvement in the Black Sea grain deal is crucial to food security in Africa. And, a summit is underway in the Amazon which hopes to drastically reduce environmental harm.
8-8-2023 • 8 minuten, 22 seconden
Some good news for your catalytic converter
Palladium — the precious metal catalytic converters are stolen for — is seeing a price drop. And it’s not the only precious metal that is losing value. But before that, trucking company Yellow files for bankruptcy and back to school shopping is on the horizon.
7-8-2023 • 8 minuten, 22 seconden
Lower prices at the pump cool inflation. That’s good, right?
Low oil prices have been great for consumers trying to stay afloat in an economy where everything else feels more expensive. But they aren’t so great for oil companies themselves. With OPEC cutting production, the pendulum could soon swing the other way. Then, why amped up international travel is rough for low-cost domestic airlines, and how American-made films are performing in Chinese movie theaters.
7-8-2023 • 8 minuten, 30 seconden
Six months on, Turkey’s earthquake rebuild stalls
From the BBC World Service: Six months on from the earthquakes that devastated parts of Turkey and Syria, has the rebuild stalled? Victoria Craig reports from Hatay province in Turkey where 23,000 people lost their lives, and hundreds of thousands were left homeless. BBC’s Catherine Byaruhanga also reports on Niger, where a coup has led to the country’s airspace being closed. And finally, Cedella Marley, Jamaican singer and daughter of Bob Marley, tells us how she became a global ambassador for the Jamaica women’s football team.
7-8-2023 • 8 minuten, 25 seconden
Barriers to entry: The cost of crossing the southern border
“Marketplace Morning Report” has been exploring the multiple forces — especially economic forces — shaping immigration. With reporting from Mexico, Argentina, Colombia and more, we cover the role of technology in immigration, how the pandemic has affected the economies of Latin America, and how U.S. asylum rules shape the lives of those waiting at the border. Here’s one episode surveying our coverage, about a half-hour of your time.
4-8-2023 • 29 minuten, 21 seconden
Where to next?
Chelsea was once New York City’s art hub. When rents shot up, many galleries migrated to TriBeCa. Now, the cycle continues, and some gallerists are once again looking for a new, more affordable neighborhood. But first, we’ll get an update on the markets from FHN Financial’s chief economist Chris Low.
4-8-2023 • 6 minuten, 45 seconden
The three A’s of tech
A is for Apple, Amazon and Airbnb. Two reported pretty solid earnings yesterday, and one faltered a bit. Plus, we’re visiting Istanbul, where it’s nearly impossible to get a taxi, thanks to politics, a ballooning population and terrible traffic. We’ll also take a look at why home equity is up.
4-8-2023 • 8 minuten, 33 seconden
Russia’s influence in Africa grows
From the BBC World Service: Niger’s elected president, Mohamed Bazoum, has warned that following the coup in his country, the entire Sahel region in Africa could fall under Russian influence — with devastating consequences. Following Fitch’s downgrade of US government debt, the picture for investors is becoming clearer. The World Bank has given nearly $5 billion of funding for projects to boost economies across Latin America and the Caribbean. So just how much difference has that made?
4-8-2023 • 7 minuten, 24 seconden
Could extreme heat cause a gas price creep?
Oil refineries aren’t designed to operate in high heat, but U.S. facilities are in Texas and Louisiana — where average temperatures have been at least 95 degrees. Dialing back production plus extreme weather brought on by a hot summer could bump up gas prices. And that’s on top of OPEC+ curbing output. After that, July job report expectations and how inflation is triggering emigration out of Argentina.
3-8-2023 • 7 minuten, 46 seconden
Wage theft in the States and limbo at the border
Leaving job sites empty-handed isn’t an unusual experience for immigrants, especially undocumented ones. A new online tool, ¡Reclamo!, is streamlining the process for filing official complaints and helping workers get the money they are owed. Plus, we’ll look at the economic cost of being stuck at the border while waiting for asylum.
3-8-2023 • 8 minuten, 1 seconde
The enduring allure of UK soccer
From the BBC World Service: Tom Brady is the latest American star to invest in U.K. soccer. The NFL legend has taken a minority stake in Birmingham City, a club which plays in the second tier of English soccer. What’s the attraction? And, can his star power take them to the top? Meanwhile, in Argentina inflation is running at over 100% — we look at how economic pressures are forcing some people to consider new lives in the United States. And, do you still watch live television? The U.K.’s broadcasting watchdog, Ofcom, says older viewers are increasingly switching off in favor of streaming services.
3-8-2023 • 7 minuten, 37 seconden
The economics of allowing immigrants in, and letting them stay
Ankle monitors and clunky apps make it hard for immigrants awaiting a hearing to start a life in the U.S. Although advocates argue that there are less intrusive methods, whole businesses exist to electronically surveil migrants. That old saying — people versus profit. Then, we’ll visit Chile, which is historically a destination for South American migrants but has recently tightened its border policies.
2-8-2023 • 7 minuten, 44 seconden
What is the U.S.’s credit score?
While it doesn’t work exactly like personal credit scores, the U.S. gets a credit rating too. And it just dropped below the top tier. We’ll talk about what the repercussions could be. Then, why working for a do-gooder company might mean lower pay, and we’ll hear from a Homeland Security Investigations agent about smugglers recruiting young people to drive migrants beyond the U.S./Mexico border.
2-8-2023 • 8 minuten, 38 seconden
Niger coup shakes its economy
From the BBC World Service: Talks are taking place in the African state of Niger to re-instate democratic rule, but European nations have already suspended financial support to the country and foreign citizens are being evacuated. For years Chile has been a destination for migrants in South America but now the government wants to restrict the numbers coming into the country, pushing more people north, to the US. And, China’s internet watchdog has introduced stricter regulations aimed at controlling how much kids use smartphones and other devices.
2-8-2023 • 7 minuten, 55 seconden
How Latin America is dealing with this inflationary economy
First, we’ll hear from William Maloney, chief economist for Latin America and the Caribbean at the World Bank, about how pumping up Latin America’s economy can help slow migration to the U.S. Then, a dispatch from Colombia about how the country is handling inflation and an influx of migrants from Venezuela.
1-8-2023 • 8 minuten, 7 seconden
This app helps migrants cross the border
WhatsApp is free, encrypted and anonymous — perfect for helping migrants get across borders and into the U.S. We’ll dive into how the app is used to support the human smuggling business, and who profits from these difficult, increasingly expensive journeys. Plus, tech manufacturing is giving non-commercial construction a boost, and some stock market indicators point to avoiding a recession altogether.
1-8-2023 • 7 minuten, 57 seconden
Are savers in Europe getting a raw deal?
From the BBC World Service: One of the primary ways to try and tackle rising inflation is for central banks to raise interest rates, but are savers getting a fair deal? Mohamed El Erian, chief economic advisor at the financial firm Allianz gives us his view after Europe’s biggest lender, HSBC doubled its profits. Plus the BBC’s Catherine Ellis reports on Colombia’s battle with inflation and an influx of immigrants from Venezuela. And finally, we hear from Frank Strang who bought a disused Royal Airforce radar station with his wife 15 years ago and turned it into a spaceport.
1-8-2023 • 7 minuten, 42 seconden
A crucial trade route, disrupted by climate change
The Panama Canal is a main throughway for goods headed to the U.S. But a recipe of drought plus El Niño weather patterns might soon make it hard to use the waterway at all. Plus, what we know so far about quarterly hiring and layoffs ahead of the upcoming jobs report, and a look at the economic factors that drive emigration from Latin America.
31-7-2023 • 9 minuten, 29 seconden
Not your father’s Republicans
A group of prominent Republicans are embracing ideas from American Compass. It’s an organization that, while socially conservative, leans liberal when it comes to fiscal policy. One of those out-of-character economic takes? Student loan debt should be discharged during bankruptcy. Plus, China and India are still using a ton of coal, and U.S. trucking company Yellow is going out of business, which will mean 30,000 lost jobs.
31-7-2023 • 8 minuten, 44 seconden
Immigration Special: From Latin America to the USA
From the BBC World Service: Immigration will be one of the areas the 2024 Presidential election will be fought over, and figures show the number of Latin Americans migrants coming to the U.S. is hitting fresh highs. As of June, there were 1.7 million encounters with migrants on the southwest land border with Mexico. That is up a little on the same period last year, and already at the levels of 2021. Will Grant, the BBC’s Mexico, Central America and Cuba correspondent, has been taking a look at this as part of a week-long series.
31-7-2023 • 9 minuten, 44 seconden
A starchy panic
India has halted export of non-basmati rice, causing some U.S. shoppers and restauranteurs to stock up in case of a shortage. In this episode, the economics of scarcity fears, and how it can turn small problems into big ones. Plus, a new law that will allow companies to match student loan payments with retirement contributions.
28-7-2023 • 8 minuten, 12 seconden
The Bolt lives on
Earlier this year, GM announced it was pulling the plug on their affordable EV with a troubled past. But now, the Chevrolet Bolt is selling super well at dealerships, and an updated model is coming soon. We’ll talk about what changed. Plus, we’ll hear from an economist who has a proposal for improving the health care model in the U.S.: Start thinking about coverage the way we think about public school.
28-7-2023 • 8 minuten, 20 seconden
Earth’s at a boiling point
From the BBC World Service: The U.N. has warned that it’s no longer enough to refer to global warming — we are now in an era of global boiling. The warning comes as Europe and swathes of the U.S. are experiencing prolonged periods of extreme heat. France recently became the first country in the world to ban some short-haul internal flights between cities which take less than two and a half hours to travel between by train. But the jury’s still on how effective the ban is.
28-7-2023 • 7 minuten, 36 seconden
You can serve it, but you can’t drink it
Some states, like Iowa, are lowering or trying to lower the age requirement for serving alcohol. Critics caution that allowing young people to serve alcohol could make them more vulnerable to harassment, but others say it would give teens job opportunities — and help out the already struggling restaurant industry. Plus, automakers are working together to build out a network of EV chargers that could make long-distance travel more realistic.
27-7-2023 • 8 minuten, 33 seconden
Retirement catch-up
Did you know that if you’re over 50, you can contribute extra to your 401(k)? Legislation is about to go into effect that will sweeten the deal even more: For 401(k) participants earning $145,000 or more, that catch-up amount will be taxed upfront, rather than when it’s withdrawn for retirement. In this episode, we’ll talk the nitty-gritty of retirement savings, a new company looking to operate short-haul flights only, and whether the Fed will raise rates again in September.
27-7-2023 • 9 minuten, 9 seconden
What can corporate profits can tell us about the economy?
From the BBC World Service: A raft of big European corporations have been reporting half-year figures. We drill into some of the numbers and find out why shares in some big banks are falling despite rising profits, how lower oil prices are affecting Shell, and the role cat food has played in Nestle’s profits. Also on the program, Russia’s ambitions for Africa as President Putin hosts leaders for a summit. And, the battle to save a ship carrying 3,000 vehicles from sinking off the Dutch coast.
27-7-2023 • 7 minuten, 29 seconden
Who will care for you when you’re old?
In her new book, M.T. Connolly explores the cost of getting older, from family members that do caregiving for free to nursing homes that lack sufficient funding. “Marketplace Morning Report” host David Brancaccio sits down with Connolly to discuss what we can do better to plan for aging. Plus, what the all-but-imminent rate hike later today means for inflation, and a bank in the UK closed a politician’s account partially due to his politics.
26-7-2023 • 8 minuten, 38 seconden
Setting a pay precedent
The Teamsters union reached an agreement with UPS yesterday, narrowly avoiding a strike. The contract updates include a pay raise for part-time workers and $30 billion in wage gains over five years. That could set a precedent for other companies deciding whether to deliver pay increases to their employees. Plus, the ad market is seeing less revenue and the infrastructure of the care economy is shaky at best.
26-7-2023 • 8 minuten, 23 seconden
60,000 women in Afghanistan lose their jobs
From the BBC World Service: The Taliban has fulfilled its threat to shut down hair and beauty salons across Afghanistan, leaving tens of thousands of women without work. The BBC’s Caroline Davies explains. The CEO of NatWest, one of the UK’s biggest banks, has resigned after the bank closed the account of a former politician due to his conservative right-wing views. Alison Rose had said Nigel Farage’s account was shut down due to a lack of funds. In Germany, the government is suggesting that a siesta could help workers cope with uncharacteristic summer heat, and, finally, David Gressly, UN humanitarian coordinator for Yemen, gives an update on an operation to remove one million barrels of oil from a derelict tanker.
26-7-2023 • 7 minuten, 29 seconden
A mental health care coverage boost
Since 2008, insurers in the U.S. have been required to provide the same level of coverage for physical and mental heath care. But insurance companies found loopholes. A new rule proposed by the Biden administration is looking to close the gap. Plus, meet the tech workers who quit their jobs and moved back to rural China to operate a local peach farm.
25-7-2023 • 8 minuten, 24 seconden
Teamsters are back at the bargaining table
UPS workers have won air conditioning in delivery trucks, elimination of a two-tiered pay structure and more in recent contract negotiations. But if agreement on a final issue — part-time employee pay — isn’t reached at the end of the month, the Teamsters say they’ll go on strike. And the end of the month is fast approaching. Plus, we’ll hear from families who are suing after federally-built reservoirs overflowed into their homes during Hurricane Harvey.
25-7-2023 • 8 minuten, 22 seconden
Strikes continue over judicial reform in Israel
From the BBC World Service: A general strike has been threatened in Israel over judicial changes that will restrict the Supreme Court’s powers to challenge the government. Today doctors take industrial action. We hear from the protestors and one of the country’s big business groups. Plus, an eye-opening story — why is the founder of ChatGPT scanning eyeballs? And will one of the world’s top soccer stars, Kylian Mbappé, head to Saudi Arabia for more than $300 million?
25-7-2023 • 7 minuten, 34 seconden
“Average” doesn’t mean typical
Biden’s new expression for the current strong labor market and wage growth — “Bidenomics” — is meant to make voters feel good about the country’s financial situation. But, in reality, two-thirds of voters disapprove of the current economy. We’ll discuss the disconnect between the feel-good big picture and everyday Americans’ lived experience. Plus, are borrowers financially ready to start repaying their student loans?
24-7-2023 • 8 minuten, 20 seconden
Fake money, real stakes
Video games are about more than just defeating evil and conquering land — they can also be about accumulating wealth and resources. Economists are looking to video games as a microcosm to learn about spending habits, market trajectories and more. Plus, a breakdown of the Barbie/Oppenheimer box office numbers.
24-7-2023 • 8 minuten, 18 seconden
The claim in Spain is that voters go again
From the BBC World Service: Spain’s muddled election results mean more confusion for businesses as it remains unclear whether a government can be formed; the BBC’s Guy Hedgecoe explains what it means from Madrid. Plus we hear from British tourists caught up in the devastating wildfires that have hit the Greek island of Rhodes. And finally, with Barbie making a huge impact at the box office, Elizabeth Hotson reports on businesses betting big on going pink.
24-7-2023 • 8 minuten, 26 seconden
Boppenheimer at the box office
Two major films — Oppenheimer and Barbie — hit theaters this week. But with SAG-AFTRA on strike, actors won’t be doing any promoting of any movies, at all. What will that mean for ticket revenue? We’ll discuss. Plus, the Fed launches its own Zelle-type service but most banks don’t seem to be buying in, and the argument for more investment in women’s sports.
21-7-2023 • 8 minuten, 21 seconden
Turkey plays rate hike catch-up
Turkey’s central bank didn’t raise interest rates when, well, the rest of the world did in the wake of the pandemic. But now that the country’s got newly appointed financial leaders, that is changing. Plus, the House passed a bill that could alleviate some air travel headaches and we hear from the folks at “Marketplace Tech” about their series on AI in the workplace.
21-7-2023 • 8 minuten, 30 seconden
Temperatures soar across Europe
From the BBC World Service: There are weather warnings across Italy and the heatwave in Spain is set to intensify, with temperatures predicted to reach 112 degrees near Seville, and there’s no let-up in sight. Amsterdam’s city’s council has banned cruise ships from the city center — the aim is to limit visitor numbers and curb pollution. Despite the huge popularity of the women’s soccer, as the World Cup gets underway, there’s controversy over the pay disparity between the men’s and women’s games.
21-7-2023 • 7 minuten, 47 seconden
Why legacy admission might stick around
Several top colleges, including Wesleyan University and Carnegie Mellon University, just got rid of legacy status as an admission leg-up, in response to the overturning of race-based affirmative action. But kids of alumni at other colleges might still get lucky — largely for financial reasons. Plus, widows fight for better workers compensation laws and we take a look at the U.S. economy’s resilience.
20-7-2023 • 8 minuten, 19 seconden
Trickle-down… commercial real estate crisis?
Several big banks say they are bracing for high credit losses in the second quarter — with tons of companies trying to offload their vacant commercial real estate, there could be a rise in loan defaults. But will this lead to widespread stress on the financial system? Plus, FEMA’s budget is stretched thin and Netflix’s stock is down even though subscriptions are up.
20-7-2023 • 8 minuten, 57 seconden
Grain prices spike on Russian words and deeds
From the BBC World Service: Wheat prices have spiked after Russian attacks on grain stores in Ukraine, and a declaration that ships heading to Ukrainian ports will be considered military targets. Plus, current and former staff at McDonald’s in the UK continue to come forward alleging bullying or harassment following a BBC investigation. On Wednesday McDonald’s asked anyone who has experienced or witnessed inappropriate behavior to contact its new confidential and independent reporting line. And, as the women’s World Cup kicks off in Australia and New Zealand we hear from a top agent about the changing commercial landscape.
20-7-2023 • 7 minuten, 17 seconden
Maternity rights for women’s pro soccer players are still evolving
When the U.S. women’s soccer team won the last world cup in 2019, players on teams in the National Women’s Soccer League were only given four weeks of paid maternity leave. That changed in January 2021 … when soccer’s governing body FIFA brought in a minimum requirement of 14 weeks of paid maternity leave. Players are also entitled to medical and physical support on their return to work. The BBC’s Alex Scott, who played on England’s national team, visited a former teammate who’s benefited from the improvements.
19-7-2023 • 8 minuten, 32 seconden
The White House takes on “junk fees” for renters
In a flurry of announcements, the White House rolled out new measures calling for transparency on so-called “junk fees” for renters, as well as new proposed guidelines for corporate mergers. Plus, why electric vehicles are getting cheaper, why homebuilders are feeling a flush of confidence, and the WTO urges countries not to restrict food exports in the wake of Russia’s withdrawal from the Black Sea grain deal.
19-7-2023 • 8 minuten, 10 seconden
Why is inflation in the UK so high?
From the BBC World Service: The UK’s inflation figures remain high today at 7.9%, although this is down from 8.7%. Why is it so high when compared to the USA (3%) and the Eurozone (5.5%)? Mohamed El-Erian, Chief economic adviser at German financial services group Allianz, explains. Plus, we hear from the Director General of the World Trade Organization, who has urged countries not to restrict food exports in the wake of Russia’s withdrawal from the Black Sea grain deal.
19-7-2023 • 7 minuten, 36 seconden
San Francisco wants to stay attractive to tech companies. What about remote work?
San Francisco will host an upcoming business convention that will bring leaders from around the globe. Stakes are high — the reputation of the city as a good place to start a tech company is on the line. Mayor London Breed says repurposing empty office space and building more housing are some of the ways she plans to attract new firms and their employees. Plus, what it means that retail sales for June were lower than expected.
18-7-2023 • 8 minuten, 31 seconden
Where did all the tourists go, Mayor Breed?
San Francisco is lagging behind other major U.S. cities’ rebounding tourism rates. Between a homelessness crisis and difficulty retaining retailers downtown, city leaders have work to do to attract visitors like they did pre-pandemic. Mayor London Breed says her solution involves putting more resources into hiring police and clearing homeless encampments. Plus, we’ll talk the odds of a recession actually happening.
18-7-2023 • 9 minuten, 15 seconden
What’s it like to be a grain farmer in Ukraine?
From the BBC World Service: Ukrainian farmer Kees Huizinga joins Marketplace to discuss the impact of Russia withdrawing from the Black Sea grain deal. What next for the Commonwealth Games after Melbourne pulls out of hosting it in 2026? And finally, we hear from Lucy Ward on what it’s like for a woman to commentate on men’s soccer.
18-7-2023 • 8 minuten, 52 seconden
USA! Equal Pay!
The most successful women’s soccer team ever — the U.S. women’s national team — won a lawsuit for equal pay last year. But the prize pot for the upcoming women’s World Cup is three times smaller than the men’s. We’ll run the numbers on what it’ll take to close the pay gap. Plus, grain prices might be headed up thanks to Russia, and China’s economy isn’t doing too hot.
17-7-2023 • 8 minuten, 31 seconden
Lessons in adaptation: Bay Area edition
Silicon Valley has got a diversity problem. A mentoring program in the Bay Area might have solutions. Based in Oakland, Gameheads gives students avenues into the industry that’s taken over the place they call home, through a medium they already know and love: video games. Plus, San Francisco’s mayor London Breed talks repurposing commercial real estate.
17-7-2023 • 8 minuten, 37 seconden
Russia pulls out of the Black Sea grain deal
From the BBC World Service: Russia has announced it is withdrawing from the Black Sea grain deal with immediate effect. The BBC’s Paul Moss explains what the knock-on effects could be. Plus, former International Monetary Fund economist David Woo explains why China’s economy is struggling as they register a youth unemployment rate of 25 percent. And finally, with the Women’s World Cup starting this week, the BBC’s Leanna Byrne looks into the issue of equal pay in women’s soccer.
17-7-2023 • 8 minuten, 30 seconden
These lawyers are suing over masks, vaccines and more
A group of lawyers gathered at the debut COVID Litigation Conference earlier this year, attending sessions on how to sue organizations’ and states’ over pandemic policies and healthcare mandates. Officials worry such litigation could spread disinformation and destabilize public health efforts. Plus, why regulation for AI might happen soon, and a check-in on quarterly bank results.
14-7-2023 • 7 minuten, 25 seconden
Don’t believe everything you hear
As artificial intelligence gets more advanced, scam calls have gotten increasingly believable. We’ll hear from an expert on AI-assisted fraud on how these scams work, as well as “Marketplace Morning Report” host David Brancaccio himself — as an AI-generated voice. Plus, Biden’s funding initiative for communities to become more climate resilient includes a “green bank.”
14-7-2023 • 8 minuten, 36 seconden
Hollywood actors strike over pay and AI
From the BBC World Service: It’s the biggest industry walk-out in 60 years. The Screen Actors Guild wants streaming giants to agree to a fairer profit split and better working conditions; it also wants to protect actors from being usurped by digital replicas. After the 2011 tsunami in Japan, more than 1,000,000 tonnes of radioactive waste water built up in tanks on the Fukushima nuclear site, which Japan now has permission to release into the Pacific Ocean. The French government is encouraging people to ignore fashion trends by repairing existing clothes.
14-7-2023 • 7 minuten, 31 seconden
What do we do with all this office space?
Going into the office five days a week is likely a thing of the past. To cope, companies are downsizing their physical offerings, renegotiating leases, or bailing on in-person spaces altogether. Might a drastic shift in the commercial real estate landscape have broader financial effects? We’ll talk to a researcher from McKinsey who’s trying to answer that question. Plus, Chinese-based hackers have gotten in to U.S. Commerce Department emails.
13-7-2023 • 8 minuten, 6 seconden
A double strike in Hollywood is likely
Actors are likely to join TV and film writers on the picket line today, as their previous labor agreement expired at midnight. This would be the first time both SAG-AFTRA and the WGA have been on strike simultaneously since 1960. Demands are related to streaming service compensation and industry use of AI. Plus, the country’s first craft brewery is set to close after 127 years, and worker habits are changing the landscape of commercial real estate.
13-7-2023 • 8 minuten, 49 seconden
IMF approves $3 billion bailout for Pakistan
From the BBC World Service: The International Monetary Fund has approved the release of funds over nine months to support Pakistan’s economic stabilization program. It’s a year since former Sri Lankan President, Gotabaya Rajapaksa, fled Sri Lanka amidst a huge economic crisis; and although things have improved, high prices are leaving many people struggling to cope. Tennis fans have been glued to coverage of Wimbledon and whilst broadcasters provide gripping commentary for big matches, many of the other games aren’t covered. That’s all about to change, thanks to artificial intelligence.
13-7-2023 • 9 minuten, 24 seconden
Can AI do your taxes? Not quite yet.
KPMG just announced they will be partnering with Microsoft to integrate generative AI into their workflows. We’ll talk with U.S. Chair and CEO Paul Knopp about how he hopes AI will help accountants do their jobs. Plus, an update on the PGA Tour Senate hearing — where PGA’s COO said the organization had little choice but to merge with LIV — and a check-in on how year-over-year inflation numbers might affect rake hikes.
12-7-2023 • 8 minuten, 42 seconden
A win for the CFPB, a loss for the FTC
That’s a lot of acronyms. First, director of the Consumer Financial Protection Bureau Rohit Chopra will break down why he’s slapped penalties on the Bank of America. Then, why the Federal Trade Commission didn’t want Microsoft, which makes video game consoles, to purchase Activision Blizzard, which makes video games. They’re doing it anyway. We’ll also take a look at Biden’s funding plan for those suffering from extreme heat in the Southwest.
12-7-2023 • 8 minuten, 48 seconden
Nike Canada investigated over forced labor
From the BBC World Service: Canada’s ethics watchdog has launched investigations into allegations that Nike Canada and a gold mining company benefitted from Uyghur forced labor in their China operations. The UN is warning that Sudan is on the verge of an all-out civil war. Thousands have fled to Egypt where cash payments are part of the humanitarian aid. And FC Barcelona is trying to raise money by making diamonds out of the grass from the pitch in the famous Nou Camp stadium.
12-7-2023 • 9 minuten, 10 seconden
That Roomba in your Amazon cart? Today might be the day.
Prime Day starts today and some consumers will be clearing out their cart, thanks to big deals. We’ll discuss the reasoning behind savings events, and what retailers hope these sales will do for, well, sales. Plus, the PGA Tour is before a Senate committee today to defend their merger with LIV and economists await the June CPI.
11-7-2023 • 7 minuten, 43 seconden
To be, or not to be?
Many regional theaters around the country are in a financial crisis, and pandemic funding is running out. We’ll take a look at why it’s been so hard to get audiences back in seats, and the big changes some regional companies are making to stay afloat. Then, the Fed gives some advice on how much money banks should have available, and a big-deal tech deal falls through in India.
11-7-2023 • 8 minuten, 54 seconden
Chips are down as Foxconn bails on India venture
From the BBC World Service: Apple supplier Foxconn has pulled out of a $19.5bn deal with Indian mining giant Vedanta to build a chip making plant. Less than a year ago, the companies announced plans to set up the facility in Prime Minister Narendra Modi’s home state of Gujarat. Plus, how the state of Spain’s economy is dominating the forthcoming general election. And, we take a peek inside Charlie Watts’ treasure trove. The late Rolling Stones drummer amassed a horde of collectibles, from first editions to jazz memorabilia, which will be sold off at auction later in the year.
11-7-2023 • 10 minuten, 4 seconden
Oil, oil and more oil
Gas shortages in Cuba recently reached fever pitch, and private Russian firms may step in to help, short-term. Stateside, OPEC has tried to cut distribution to bolster gas prices, but robust U.S. oil production is getting in the way. Plus, a sneak-peek into Kai Ryssdal’s sit-down with Treasury Secretary Janet Yellen in China.
10-7-2023 • 8 minuten, 39 seconden
Sideshow car stunts go virtual
In the Bay Area, showing off your car with stunts and “hyphy” movement is part of a sideshow culture that’s been around for decades. A group of students at Gameheads, a mentorship program in Oakland, are bringing the shows (and associated music and dance moves) to the virtual world. Plus, what could happen if UPS workers go on strike at the end of the month.
10-7-2023 • 8 minuten, 44 seconden
Fuel crisis forces Cuba to turn to an old ally
From the BBC World Service: Cuba is in the grip of a crippling fuel crisis. People are having to queue for days for gas as well as endure widespread blackouts. Now the Cuban leadership has turned to an old ally for help: Russia. Plus, President Biden arrived in London today. The war in Ukraine is likely to be the main focus but they are expected to cram a lot in, particularly around the trade of minerals key to the green energy transition. And, South Korean pop sensation BTS has launched an eagerly-awaited book to mark their tenth anniversary.
10-7-2023 • 8 minuten, 37 seconden
Feeling the heat
During a period of extreme heat, new research shows the U.S. is experiencing a utility disconnection crisis. Three million customers had their electricity shut off last year and the fees for disconnection and reconnection, researchers say, can add up to a never-ending cycle. Plus, unemployment dropped a bit, so we’ll check on what that means for inflation and rate hikes. And young adults look for a holistic approach to financial advice.
7-7-2023 • 7 minuten, 57 seconden
Yellen looks for common ground in China
Marketplace’s Kai Ryssdal is in China, traveling with Treasury Secretary Janet Yellen’s press pool. He joins David Brancaccio from Beijing to give updates on Yellen’s visit so far, and what she’s trying to achieve — hint: not decoupling from China. Plus, Biden proposes new rules for short-term health insurance, which can leave consumers under-insured with high medical bills, and about 765,000 workers will get a minimum wage raise this summer.
7-7-2023 • 9 minuten, 3 seconden
Talks, tension and China’s economic troubles…
From the BBC World Service: It’s Janet Yellen’s first trip to China as US Treasury chief. The visit comes as tensions between the two countries are running high and China’s economy is struggling to mount a post-pandemic recovery. The Afghan Chamber of Commerce and Industry says more than 60,000 women will lose their jobs after the Taliban’s decision to shut all female beauty salons in the country. Could robots be the answer to our social care problem and a way of combating loneliness in older people?
7-7-2023 • 8 minuten, 1 seconde
Not your grandpa’s Pong
A quarter of video gamers in the U.S. are 50 and older — accounting for $5 billion a year in spending — and their tastes are more sophisticated than when video games first came out over 50 years ago. Nowadays, the market lacks options for older players. We’ll talk with some folks who are focusing on filling that gap. Plus, Meta’s Threads app launches across the world, but is notably missing from app stores in the EU, which has strict privacy laws.
6-7-2023 • 9 minuten, 29 seconden
Next year, your health care could get more expensive
In 2024, medical costs overall are predicted to increase by 7%, according to a recent PwC report. Who bears the brunt of that might depend on how employers and insurance companies choose to handle the hike, but lower-income, uninsured and under-insured people are most likely to feel the pinch. Plus, Janet Yellen visits China and Toyota says they’re working on a cheaper, more efficient EV battery.
6-7-2023 • 8 minuten, 34 seconden
Shell boss defends oil commitment
From the BBC World Service: There’s currently a major emphasis on the green transition, but the boss of oil giant Shell tells us cutting oil production is ‘dangerous’ while there’s not enough renewable energy to replace it. Treasury Secretary Janet Yellen heads to China — will she be able to ease tensions between the world’s economic superpowers? And Last week’s riots have exposed deep divisions in French society. We hear from Marseille where people living in one of the city’s most deprived and violent neighbourhoods say they feel abandoned by politicians.
6-7-2023 • 7 minuten, 57 seconden
Can federal agencies contact social media companies?
A federal judge has barred federal agencies like the FBI from communicating with social media companies about content that might be deemed misinformation or part of foreign influence campaigns. But constitutional scholars say the decision isn’t likely to be upheld, as it could violate the first amendment. Plus: No fireworks this Fourth of July? You might have the rising cost of insurance to blame.
5-7-2023 • 9 minuten, 15 seconden
Insider trading? Or really, really good luck?
A report by ProPublica found executives and investors made suspiciously well-timed trades in healthcare stocks — with companies they have ties to, and with rival firms. We’ll talk with reporter Robert Faturechi about whether these traders got lucky, or were acting on privileged information. Plus, a check-in on the ongoing airline pilot shortage that might have affected your holiday weekend travel plans.
5-7-2023 • 9 minuten, 36 seconden
The UK’s National Health Service is 75 years old, but it is still fit for purpose?
From the BBC World Service: It was the first free health service in the world, but is the UK’s National Health Service still fit for purpose as it reaches its 75th anniversary? We ask an American doctor working for the NHS. Plus, Victoria Craig reports from Turkey where new finance minister Mehmet Simsek has promised to tackle the country’s deep economic problems.
5-7-2023 • 10 minuten, 16 seconden
In South Africa, light at the end of the energy crisis tunnel
For the last 15 years, power rationing has been common in South Africa, with businesses and households losing electricity for hours at a time. Now, South Africa’s government says daily power cuts could be over by the end of the year. But for many businesses, the damage is done. Plus, a joint effort between the federal government and Oneida and Menominee Nations to produce and purchase traditional foods for their communities.
4-7-2023 • 8 minuten, 47 seconden
The cost of climate change: insurance edition
In places with increasingly frequent, destructive and costly natural disasters, insurance costs are going up. Major providers are pulling out of high-risk markets, and remaining coverage options are getting more expensive. How do insurance companies put a price tag on climate change-driven hazards? We’ll also take a look at how small businesses decide whether to raise their prices, ahead of the latest Personal Consumption Expenditures index.
4-7-2023 • 8 minuten, 44 seconden
A social media face-off as Meta prepares to launch a rival to Twitter
From the BBC World Service: Facebook’s owner Meta has announced it will launch Threads, a new social media app, on Thursday. Technology reporter Io Dodds told us what this means for Twitter. Also, the killing of a French-Algerian teenager in Paris has triggered days of rioting. The BBC’s Paul Moss reports on two funds that have been set up, one for the victim and the other for the policeman who shot him. And finally, the BBC’s Andrew Harding investigates who’s to blame as South Africa faces a winter of discontent over power shortages.
4-7-2023 • 8 minuten, 47 seconden
Let’s talk about debt
With some states issuing stimulus checks this year — in addition to federal ones during the height of the pandemic — we take a look at what people spent the extra cash on. A lot of folks used it to pay down debt, securing a more stable financial future for themselves and their families. Plus, the fallout from SCOTUS’s decision to nix Biden’s student loan forgiveness program.
3-7-2023 • 8 minuten, 19 seconden
Here’s your change!
What happens when gentrification changes your neighborhood? How does it alter the experience at your local corner store? At Gameheads, a mentoring program where students learn how to make video games, some young people are demonstrating the effects of gentrification through their own virtual world. Plus, with student loan repayments restarting in October, the Biden administration looks for ways to ease the transition.
3-7-2023 • 8 minuten, 21 seconden
Beijing beckons for the US Treasury Secretary
From the BBC World Service: Treasury Secretary Janet Yellen is set to visit Beijing this week as the US and China try to patch up a broken relationship. BBC China Media Analyst Kerry Allen gives the lowdown on how her trip could be received. Plus, an environmental campaign group claims the Anglo-Dutch energy giant, Shell, continues to trade Russian gas, more than a year after promising to pull out of the country. And Warren Bull reports on the hot topic of a shortage of Sriracha sauce.
3-7-2023 • 8 minuten, 14 seconden
New rules for religious accommodation at work
The Supreme Court rules unanimously in a case concerning religious exemption yesterday. Employers will now have to accommodate their employees’ religious observances, unless they can prove doing so imposes a substantial burden on their business operations. Plus, the Commonwealth weighs the price of King Charles the III (and British monarchy as a whole), and the hot topic at today’s meeting of EU leaders: China.
30-6-2023 • 7 minuten, 54 seconden
With race-based affirmative action gone, what about legacy status?
The Supreme Court overturned race-based affirmative action for college admissions yesterday. Some elite colleges may look to socio-economic status instead as a way to diversify their student bodies. Plus, the court should make a call on Biden’s student loan forgiveness plan today, and a new law went into effect this week to protect the rights of pregnant and postpartum workers.
30-6-2023 • 8 minuten, 22 seconden
Crisis-hit Pakistan strikes $3 billion IMF bailout deal
From the BBC World Service: After months of negotiating, the International Monetary Fund has reached a financing deal with Pakistan to avoid a default. The British are coming… for your airport stores; many of the shops you see in airports in the US are run by a British company, WHSmith, and they’re planning even more. A new airline, K9, is giving pets seats on private jets for routes including London to New York, New Jersey and Dubai.
30-6-2023 • 7 minuten, 57 seconden
The GDP gets a recalculation
Earlier this year, the commerce department estimated the U.S.’s GDP grew in the first quarter by the equivalent of 1.1% per year. But recently, they did a recount with more data. That estimate? Nearly double — the equivalent of 2% per year. We’ll talk about why the estimate increased, and what this could mean for inflation. Then, a check-in on state unemployment insurance agencies, which still don’t seem ready for a recession.
29-6-2023 • 8 minuten, 37 seconden
Can big banks take economic heat right now?
Every year, the Fed tests the nation’s biggest banks to make sure they can withstand a major economic shock. We take a look at how they did this year, whether the stress tests are useful, and why they’re of particular concern following the series of regional bank failures a few months ago. Plus, the economic case for LGBTQ equality.
29-6-2023 • 8 minuten, 30 seconden
Sri Lanka’s five day bank holiday
From the BBC World Service: Sri Lanka has begun a five-day bank holiday to allow the crisis-hit nation breathing space to restructure $42 billion in domestic debt. China is set to double its capacity to generate renewable energy by 2025, hitting government targets five years ahead of schedule. Virgin Galactic is launching its first commercial rocket plane spaceflight. The mission is scientific — with plans to collect biometric data and conduct tests.
29-6-2023 • 7 minuten, 55 seconden
A look under the hood of the stock market
The NASDAQ and S&P, which have been way up for the first half of the year, say the stock market is thriving. But a closer examination of the numbers reveals those positive trends can be attributed to a few big, booming companies. Susan Schmidt with the State of Wisconsin Investment Board takes a look under the hood. Then, a new responsibility for online retailers to scrutinize possible scammers and a pup-friendly real estate gimmick in North Carolina.
28-6-2023 • 8 minuten, 18 seconden
Inform Act aims to thwart third-party vendors reselling stolen goods
The Inform Act, which took effect today, requires online marketplaces like Amazon and eBay to verify the identities of high-volume vendors in an effort to stop crime rings from stealing from brick-and-mortar stores and reselling their loot. The act also requires online marketplaces to provide consumers with mechanisms to report suspicious listings. After that, a consumer confidence-consumer spending mismatch, and still-high housing prices and mortgage rates mean a still-tight housing market.
28-6-2023 • 8 minuten, 39 seconden
Organisation for Economic Co-operation and Development: Governments are moving fast on AI
From the BBC World Service: The Organisation for Economic Co-operation and Development says that whilst there are threats from Artificial Intelligence, Governments around the world are acting fast. Plus, BBC’s Luke Wilson reports on drinks giant Diageo’s split with Sean Coombes – aka Diddy. And finally, is the cost of travelling stopping some Muslims travel to Mecca? We hear from the BBC correspondent in Cairo, Sally Nabil.
28-6-2023 • 7 minuten, 34 seconden
“Summer Davos” check-in
China’s premier Li Qiang criticized western countries’ attempts to extricate themselves from trade with China at yesterday’s World Economic Forum gathering dubbed “Summer Davos”. Li argued even if there’s a push to move factories to southeast Asia, parts and raw materials will still be sourced from Chinese suppliers. Plus, electric vehicle startup Lordstown Motors files for bankruptcy after talks aimed at partnering with Foxconn broke down, and a nonprofit in California teaches incarcerated women how to code.
27-6-2023 • 8 minuten, 17 seconden
Slicing up the broadband-access pie
The Biden Administration just announced how much individual states will get of the $42 billion allocated to increase affordable broadband internet. Priority was given to states with higher need in hopes funding can strategically reach the nearly quarter of Americans who lack high-speed internet. Plus, Meta has new VR offerings and Dream Exchange hopes to be the first minority-owned stock exchange.
27-6-2023 • 8 minuten, 32 seconden
Is deep sea mining the answer to a greener future?
From the BBC World Service: In the push for green energy, Norway has just proposed the exploration of its waters as the sea bed has material worth trillions of dollars. Andreas Bjelland Eriksen is Norway’s minister for energy and petroleum. Elettra Neysmith talks about the death of John Goodenough, the creator of the lithium-ion battery. And finally, BBC Reporter Emir Nader reports on Captagon, a highly addictive drug ravaging the Middle East with links to leading members of the Syrian regime.
27-6-2023 • 9 minuten, 26 seconden
In Houston, a contradictory economic picture
In Houston, job and earnings growth are above state and national levels at the same time that more residents are struggling to afford basic necessities. A look at how inflation, especially the rising cost of housing, is squeezing the city’s working class. Then, which parts of pandemic-era dining might be here to stay.
26-6-2023 • 8 minuten, 32 seconden
Messi, Apple, and the future of sports media
Lionel Messi is set to sign with MLS club Inter Miami any day now, in a deal that reportedly includes money from Apple. Why is the tech giant investing in a legendary soccer star joining a U.S.-based team, and does it have anything to do with Apple TV’s Ted Lasso? Plus, how turmoil in Russia is affecting the markets, and why cultivated meat will be available in high-end restaurants before you’ll see it in grocery stores.
26-6-2023 • 8 minuten, 10 seconden
What are the financial ramifications of the Russian rebellion?
From the BBC World Service: Following the failed mutiny in Russia, how have the markets reacted? Jake Cordell, a former economic journalist at the Moscow Times, gives us his thoughts. Plus, Marketplace’s Jo Critcher explains why global consulting group PwC is selling part of its business in Australia for less than a dollar. Also, 3 million Muslims are expected in Mecca for their Hajj pilgrimage, and the government wants to ensure its tourism industry will benefit, as BBC’s Sebastian Usher reports.
26-6-2023 • 7 minuten, 29 seconden
Increased construction is much-needed good news for the real estate market
What a rural snowmobile company can teach the rest of the economy about navigating a tight labor market, and with an increase in housing starts, the perennially pinched residential real estate market breaths a (small) sigh of relief.
23-6-2023 • 8 minuten, 24 seconden
A mix of Sauvignon Blanc and Bud Light? NASCAR makes its way into European racing
A NASCAR-style Camaro ran in the famed 24-hour car race in France. It’s another example of globalization in the sports world. Plus, the plan by the Federal Reserve and other agencies to raise capital requirements could bolster banks’ resilience, but the timing of such measures is important.
23-6-2023 • 8 minuten, 35 seconden
The world-famous Glastonbury music festival gets underway
23-6-2023 • 7 minuten, 43 seconden
How can world economic leaders help debt-burdened developing nations?
Developing nations that owe too much money to creditors are left ill-equipped to address climate change and pandemic fallout, or advance their economies. A summit that began today in Paris is tackling this global problem, and we’ll take a look at what Janet Yellen thinks could help. Then, how businesses in small-town Minnesota are using increased automation to compensate for a limited labor market.
22-6-2023 • 9 minuten, 25 seconden
In a squeezed market, realtors and their clients get creative
With home sales still sluggish, real estate agents are seeing buyers compromise on dream homes, going in on a purchase with family, or buying rental properties to build equity. Also in this episode: GOP members have second thoughts on the free market, and a look at why some regions of the U.S. are having an especially hard time finding workers.
22-6-2023 • 8 minuten, 16 seconden
How Netflix’s billions are changing South Korea’s media industry
From the BBC World Service: The boss of Netflix is in South Korea – a country that’s produced some of its biggest shows. But is Netflix’s multibillion dollar investment in the country supporting, or hindering, the local media landscape? Plus, lower-income nations have long argued they deserve help because they face the greatest risks from climate change – can they strike a financing deal at a major international meeting in Paris this week? And, how an “anti-bleeding” fabric coated with an extract taken from shrimps is being used to treat injuries in Ukrainian war zones.
22-6-2023 • 8 minuten, 37 seconden
Justice Alito disputes ethical questions concerning gift disclosure
ProPublica just reported Justice Samuel Alito took a luxury fishing trip paid for by a billionaire hedge fund manager and didn’t recuse himself from related cases. Could this revelation bolster efforts in Congress to pass stricter ethical guidelines for the Supreme Court? Plus, businesses in Lebanon demand a switch to the dollar.
21-6-2023 • 7 minuten, 57 seconden
In small-town Minnesota, lessons for a tight labor market
Companies in rural areas like northern Minnesota have been dealing with small labor pools for years. Could they have insight into how management and workers can handle the post-pandemic tight labor market? Plus, as the U.S. continues the will-they-or-won’t-they recession game, some countries are already there.
21-6-2023 • 8 minuten, 28 seconden
It’s time to talk tech as India PM Modi heads to Washington
From the BBC World Services: What will constitute a successful trip to Washington for India’s Prime Minister Narendra Modi? The BBC’s Nikhil Inamdar explains. Plus, Saadia Zahidi, Managing Director of the World Economic Forum, explains how AI could negatively impact gender equality. And finally, Hannah McCarthy reports from Lebanon where businesses are increasingly demanding to be paid in dollars.
21-6-2023 • 7 minuten, 35 seconden
What if we had something like the Federal Reserve for AI?
What we’re talking about here is using the structure of something like a central bank to govern artificial intelligence. In other words, when a financial crisis hits, central banks all over the world see things similarly and act accordingly based on shared expertise. Is that type of structure one way we could start to regulate artificial intelligence to avoid the bad and keep the good that might come with the technology? Plus, word today that Hyundai of South Korea is making a big investment in electric vehicles. It plans to increase EV production at its factories in the U.S. and develop new batteries.
20-6-2023 • 7 minuten, 36 seconden
The so-called “Great Resignation” goes global
A survey of workers in 46 countries finds about 25% of them plan to change jobs within a year, and nearly half plan to ask for an increase in pay. The survey, from accounting and consulting firm PwC, finds the number of people planning to quit has risen compared to last year. Plus, the Chinese tech giant Alibaba is reshuffling leadership. And, how a decline in support for the Black Lives Matter movement is showing up in corporate America.
20-6-2023 • 8 minuten, 32 seconden
Europe brings business closer to home
From the BBC World Service: Some U.S. companies have moved parts of their organization to Mexico due to Russia’s war on Ukraine and tensions with China. Now, Europe is following suit as it witnesses an increase in so-called near-shoring. We hear from Tim Creighton, who is head of logistics and industrial at Cushman and Wakefield. Also, the BBC’s Beth Timmins tells us that the U.K. government is trying to ensure that money gathered from Russian sanctions will be used to help rebuild Ukraine. And finally, the BBC’s Nasser Hanif reports on Pakistan’s government, which is waiting to see if its new budget will convince the International Monetary Fund to give it a desperately needed loan.
20-6-2023 • 8 minuten, 17 seconden
All eyes on Beijing’s ties with U.S., Europe
Relations between Beijing and the West are in focus this morning with U.S. Secretary of State Antony Blinken meeting China’s leader Xi Jinping, who said there was progress in mending strained relations. And Europe is watching all of this. After reports of multiple Chinese crackdowns on Western businesses, some European firms are rethinking their operations in China. Also on the show today: Garrison Hayes, author of “A Kids Book About Juneteenth.” Hayes tells us more about why he decided to write this book.
19-6-2023 • 8 minuten, 51 seconden
When will all states recognize Juneteenth as a public holiday?
Juneteenth became a federal holiday two years ago. But about half the states in the country have yet to adopt it as an official state holiday. Efforts to change that are ongoing. Plus, the latest from U.S. Secretary of State Antony Blinken’s trip to China. He’s meeting with China’s leader Xi Jinping. And, in Argentina, workers have been on strike for weeks, demanding higher wages to keep up with soaring inflation, which is running at more than 100%.
19-6-2023 • 8 minuten, 22 seconden
Is Italy’s relationship with China hitting the skids?
From the BBC World Service: Italy is the latest country to try to limit the influence of China in its businesses. The government is restricting the Chinese state-owned company Sinochem from taking control of the tire-maker Pirelli, as the BBC’s Mariko Oi explains. Plus, BBC business correspondent Theo Leggett joins us from Paris at the world’s biggest air show. And, the BBC’s Valley Fontaine reports on strikes in Argentina, where inflation is out of control.
19-6-2023 • 9 minuten, 45 seconden
Blinken heads to China, following a visit by Bill Gates
The U.S. Secretary of State Antony Blinken will arrive in China to try to strengthen diplomatic ties between Washington and Beijing. Meanwhile, a private sector dignitary has just met with China’s leader Xi Jinping: Microsoft co-founder Bill Gates. We have more on what was discussed. Plus, the Federal Reserve’s thinking seems to point to an economy still humming along. So why didn’t the central bank raise interest rates again this week to try to slow the economy a bit? Well, you have to read between the lines, says Christopher Low, chief economist at FHN Financial. This has to do with concerns about the banking sector still lingering. And, it’s now more than three dozen states that have legalized cannabis products for medical use. But it’s not an affordable option for all patients.
16-6-2023 • 9 minuten, 46 seconden
Is it trash day for junk fees?
Some see them in the $45 per night “destination fee” on the hotel bill. Or maybe the $25 charge for not booking a plane ticket on the internet. The Biden Administration is pressuring companies to stop with surprise or undisclosed charges, and to be sure people know in advance the cost of a product or service. Which leads us to two major ticketing companies saying they’ll end hidden fees so at least buyers using Ticketmaster and SeatGeek will have more transparency about the full price of a ticket up front. Also, Google parent company Alphabet warns its employees about using artificial intelligence chatbots. And, some economic implications of the 7-2 U.S. Supreme Court decision to let stand the Indian Child Welfare Act.
16-6-2023 • 8 minuten, 16 seconden
Foxconn must prepare for the worst
From the BBC World Service: Young Liu, the chairman of Taiwan-based iPhone maker Foxconn, says the company is redrawing some of its supply chains as it navigates a new era of icy Washington-Beijing relations. Plus, Singapore will “progressively deploy” more patrol robots across the city-state after more than five years of small-scale trials. And, a multimillion dollar deal between audio streaming giant Spotify and the media group run by Prince Harry and Meghan Markle has been canceled.
16-6-2023 • 9 minuten, 49 seconden
Employee or independent contractor?
The standards for determining this have changed yet again. And the latest ruling by the National Labor Relations Board brings back a method that could classify more people as employees. That’s making companies like Uber and Lyft pay close attention. Also, after the Federal Reserve skipped an interest rate hike yesterday, we’re already anticipating that they’ll increase rates at the next policy meeting. It’s part of the tightrope the Fed is trying to walk on inflation. And, what we pay for coffee beans reflects supply and demand on commodities markets … but not much else. Some in the coffee supply chain think the market needs restructuring to better reflect everything that goes into coffee, from labor to land to changing climate.
15-6-2023 • 8 minuten, 37 seconden
A look inside the Fed’s crystal ball
Along with a decision to hold interest rates steady, we got information about jobs, economic growth, inflation and, of course, the cost of borrowing from Federal Reserve Chair Jerome Powell yesterday. Some of the takeaways: As of now it’s likely we get two more interest rate hikes this year to try to keep inflation down, and there’s very little chance interest rates are going to get cut at all in 2023. Marketplace Washington correspondent Nancy Marshall-Genzer was at the Fed press conference yesterday and has more. Plus, the world’s first comprehensive regulations governing artificial intelligence are taking shape across the Atlantic. European Union lawmakers have voted on new limits and safeguards for AI. And, the struggle to get community college credits to count toward bachelor’s degrees.
15-6-2023 • 8 minuten, 46 seconden
Life inside North Korea
From the BBC World Service: It’s arguably the most secretive and isolated country on Earth. North Korea has cut itself off from the outside world, and its borders have been sealed for three years in response to the COVID pandemic. Some of those living in North Korea have risked their lives to tell the BBC about how they’re struggling to survive. Plus, Japan’s main stock market index, the Nikkei 225, has been enjoying a rally, hitting 33-year highs. We find out why. And, is there such a thing as Beyoncé-nomics? She’s being blamed for higher-than-expected inflation in Sweden.
15-6-2023 • 10 minuten, 27 seconden
Inflation is moving in the right direction … just not fast enough for the Fed
Today, the Fed is all but certain to leave interest rates unchanged at the conclusion of its June policy meeting. That outcome is even more likely based on more data this week that shows inflation cooling. This would be the first time in more than a year that rates don’t go up at a Fed meeting. But the real story will be what Federal Reserve Chair Jerome Powell says about the path forward on fighting inflation. Plus, Japan’s plan to deal with its falling birth rate, which poses an existential threat to the world’s third largest economy. And, a lesson from rural Minnesota about how to hire and keep workers. With the overall U.S. job market still running strong, worker shortages are common. But this is something that remote parts of the country have dealt with for a while. And they have solutions.
14-6-2023 • 7 minuten, 54 seconden
Imagine if a school bus worked like a Tesla
Well, they’re beginning to. School buses are going electric. And there’s a company in Georgia at the vanguard of this part of the energy transition. Plus, digging into inflation numbers for the U.S. economy, and deciphering whether rent prices are staying hot or cooling. Also, who holds the title of No. 1 beer in America? The landscape has shifted. And it comes after some consumers took issue with a Bud Light collaboration that featured a transgender influencer.
14-6-2023 • 8 minuten, 28 seconden
Europe makes its move on AI
From the BBC World Service: Today, lawmakers in the European Parliament are taking on the twin challenge of regulating artificial intelligence and promoting its responsible use across the bloc. The European Union’s lead on technology and digital strategy, Margrethe Vestager, talks to the BBC’s Zoe Kleinman. Additionally, we hear what Japan is doing to address its falling birth rate. And, finally, Pakistan’s first female architect is awarded for her work empowering women.
14-6-2023 • 7 minuten, 41 seconden
A mixed inflation picture ahead of the Fed’s meeting
So, how ’bout that inflation? Today’s Consumer Price Index data looks good on the surface, but there are more troubling signs deeper down. Economist Jeffrey Cleveland helps us break down the report and what it means for the Fed ahead of its meeting later this week. Plus, an app for asylum seekers at the U.S.-Mexico border offers a way to access necessary immigration services, but migrants have been reporting a slew of problems including discrimination.
13-6-2023 • 7 minuten, 50 seconden
What will a collapsed highway cost Philadelphia?
As Philadelphia deals with the collapse of a section of Interstate 95, there’s been a rush to assess the cost of rebuilding the highway and the burden the city might feel in the coming months. We look into how residents and commuters will be affected, as well as what a construction timeline could look like. Plus, we chat with the founder and CEO of the “Disparity Trap” board game which aims to educate people about systemic racism in a more lighthearted way.
13-6-2023 • 8 minuten, 22 seconden
United Nations: Global food prices to rise following Ukraine dam burst
From the BBC World Service: The Ukrainian government estimates an area the size of almost 2,000 football fields is currently under water because of the Kakhovka dam burst, much of it some of the most fertile agricultural land on the planet. The UN’s aid chief, Martin Griffiths, warns it will have a huge impact on global food security and prices. Plus, the BBC’s Olie D’Albertanson asks why nearly half of the soccer teams in the English premier league are now American-owned. And finally, Sir Paul McCartney reveals a new Beatles song will be released, thanks to AI.
13-6-2023 • 7 minuten, 49 seconden
Buckle up, it’s inflation week in the U.S. economy
There are two big events that economists will be tracking closely this week: the release of Consumer Price Index inflation data and the Fed’s rate decision shortly thereafter. We delve into the details with Julia Coronado, founder and president of MacroPolicy Perspectives. Plus, moderators across the social media platform Reddit will shut down select forums to protest the company’s move to charge developers using the website’s code. And finally, we talk with The Uncertain Hour host Krissy Clark about the new welfare work requirements passed in the debt ceiling deal.
12-6-2023 • 8 minuten, 51 seconden
Your burger might come with a side of child labor
If you get a meal from a fast food franchise nowadays, there’s an increasing chance that it’s been prepared by an underaged worker who’s been working too many hours. We look at new Department of Labor data that delves into the surprising rise in child labor law violations in some states, and why it’s been pronounced in the fast food industry. Plus, the failed Credit Suisse has been fully taken over by rival UBS after a Swiss government deal earlier this year. And finally, the BBC’s Leanna Byrne looks into how there’s been a growing wave of food fraud as production costs rise.
12-6-2023 • 8 minuten, 23 seconden
Reddit? You might have to wait
From the BBC World Service: Thousands of forums on the social media platform Reddit are being made inaccessible globally for 48 hours, as unpaid moderators around the world are protesting over planned changes; the BBC’s Zoe Kleinman explains. Plus, the BBC’s Paul Adams reports on the death of former Italian Prime Minister Silvio Berlusconi. And finally, the BBC’s Leanna Byrne hears why high food prices mean food fraud is on the rise.
12-6-2023 • 7 minuten, 58 seconden
It’s nothing but smiles on Wall Street
It’s official: the S&P 500 is officially in “bull market” territory. We get this week’s Low-down on the recent market optimism with Christopher Low, chief economist at FHN Financial. Plus, there are real economic consequences to poor air quality, including higher spending on medical treatment and lower spending on other industries. And finally, Turkey’s recently re-elected president has put together an economic team that looks capable of handling the county’s inflation problem.
9-6-2023 • 8 minuten, 13 seconden
Why the U.S. may actually have two job markets
The U.S. labor market has looked really good in the past year even as inflation bites in the wider economy. But an old theory that’s recently regained ground says that there are actually two job markets that differ substantially in pay, stability, and social mobility. Plus, the recent indictment of Donald Trump on federal charges over classified documents has turned into a fundraising call for the former president — and his Democratic rivals. And finally, Texas is looking to meet this summer’s projected record-breaking demand for energy with the help of renewable energy.
Update (6/9/23): The story about the federal charges against former President Trump has been corrected to reflect from whom fundraising emails were sent.
9-6-2023 • 8 minuten, 8 seconden
Canadian firefighter shortage could spell future wildfire trouble
From the BBC World Service: As Canada battles hundreds of wildfires, fire departments are struggling to recruit enough volunteers to quickly respond to calls; while cities employ career firefighters, small towns and villages rely on volunteers. Plus, Pride Month is well underway and amidst the parties and celebrations, it can also be a time for self-reflection. We chat with an openly gay UK banking chief who is keen to talk about his own experiences in a traditionally conservative industry.
9-6-2023 • 7 minuten, 36 seconden
Corporate America steps up its return-to-office push
Google has become the latest high-profile company to step up its efforts to get employees back into the office. We look at the measures the company is taking to prod people away from remote work, including penalizing workers who refuse to comply with back-to-office mandates. Plus, a look at British Prime Minister Rishi Sunak’s effort to convene the world’s first international forum on AI regulation. And finally, Afghan refugees in the U.S. are facing numerous challenges with immigration processing, which affects their job searches.
8-6-2023 • 8 minuten, 46 seconden
Could technology help with wildfire air pollution?
As New York and other cities continue to deal with worsened air quality due to Canadian wildfires, people have been finding ways to adapt with a little help from technology. We look at some ways innovation is meeting necessity as wildfires become a growing problem because of climate change. Plus, President Biden vetoed a bill that would have curbed student loan forgiveness. And finally, a chat with the Peterson Institute for International Economics’ Chad Bown about how the U.S. is placating allies who say recent electric vehicle subsidies are protectionist and unfair.
8-6-2023 • 8 minuten, 22 seconden
How should the world regulate artificial intelligence?
From the BBC World Service: Britain is hosting the world’s first global summit on the regulation of artificial intelligence this fall. The UK’s Prime Minister Rishi Sunak is expected to discuss the event when he meets President Joe Biden at the White House today. Plus, can the cruise ship industry reduce its emissions? We hear from one player, MSC, which is using biogas to power its first net-zero emission voyage. And finally, Messi’s next big move — sports journalist Joe Lowry explains the finances behind the Argentine soccer legend’s decision to join Inter Miami.
8-6-2023 • 8 minuten, 56 seconden
NASCAR looks to make a splash in Europe
Some of the world’s best race car drivers will compete this weekend at the renowned “24 Hours of Le Mans” race in France. This year, there’s an additional entrant — a souped-up Chevrolet Camaro engineered by NASCAR that represents the body’s hopes to win more international fans. We chat with auto journalist Jamie Kitman about the race and NASCAR’s Garage 56 project. Plus, an initiative to recruit more women into the construction industry is running into headwinds as potential apprentices struggle to find child care.
7-6-2023 • 8 minuten, 31 seconden
Wait, now we might be in a bull market?
Whelp, so much for that projected stock downturn. The S&P 500 Index is a hair’s breadth away from turning into “bull market” territory — a 20% rise in stocks — since a low hit last October. We look at why the market has been high on the economy this year despite earlier pessimism. Plus, a deeper look into yesterday’s announcement that the PGA Tour would merge with its Saudi-backed rival, LIV Golf. And finally, a look at how Prince reshaped the music industry by changing his name to the famous “Love Symbol” in the 1990s.
7-6-2023 • 8 minuten, 34 seconden
Has Saudi Arabia bought golf?
From the BBC World Service: Golf’s breakaway LIV Golf Series, backed by the Public Investment Fund of Saudi Arabia, has struck a deal that will see it merge with the established PGA Tour. The BBC’s Olie D’Albertanson reports. Plus, Emily Nicolle from Bloomberg News explains why the U.S. Securities and Exchange Commission has temporarily frozen Binance’s assets. And finally, the BBC’s Monica Miller reports on a former TikTok executive saying that members of the Chinese Communist Party gained access to its data in Hong Kong in 2018.
7-6-2023 • 7 minuten, 46 seconden
Could Hollywood actors join writers on strike?
As Hollywood studios deal with the strike amongst film and television writers, actors could soon join the picket lines if a new contract isn’t drawn up by the end of the month. We look at the potential impact on an industry already dealing with huge labor upheaval. Plus, Saudi Arabia is cutting oil production to burnish energy prices, but other producers may be reluctant to follow. And finally, Ray Dalio, founder of the world’s largest hedge fund, says that it’s not likely that interest rates will return to the ultra-low levels seen in years past.
6-6-2023 • 7 minuten, 10 seconden
Crypto gets in trouble — again
It’s seemingly déjà vu in the cryptocurrency world. Binance, the world’s largest digital currency trading platform, has been sued by U.S. Securities and Exchange Commission over alleged violations that include lying to regulators and mishandling funds. We look at what that means for a crypto industry that’s been licking its wounds since the collapse of FTX last year. Plus, a chat with Steve Isakowitz, President and CEO of The Aerospace Corporation, about the space industry’s push to diversify its workforce by 2030.
6-6-2023 • 9 minuten, 14 seconden
Will the UK vaping industry go up in smoke?
From the BBC World Service: Doctors in the UK are calling for disposable vapes to be banned. Phil Mercer reports from Sydney where they’re only available on prescription. Plus, a cyber hack has seen tens of thousands of employees’ personal details being leaked across organizations including British Airways and the BBC. And finally, in a major energy breakthrough, a test satellite has transmitted and received wireless power in space for the first time.
6-6-2023 • 8 minuten, 7 seconden
The push against workplace body discrimination gains momentum
New York City’s new law against formalized body discrimination, signed into law last month, makes it the biggest city so far to pass such protections. We look into what’s behind the move to prohibit the practice amongst employers and what it means for employees. Plus, Saudi Arabia’s announcement that it will cut oil production may have moved markets this morning, but economist Julia Coronado says this year has been a story of surprisingly low energy prices.
5-6-2023 • 8 minuten, 44 seconden
What the debt problem says about wider issues of inequality
The debt ceiling issue officially wrapped this weekend as President Biden signed a compromise deal into law, but the saga has raised unanswered questions about how…and on whom…the government spends money. We talk with Ray Dalio, founder of the world’s largest hedge fund, about what the latest spat says about inequality in America. Plus, Allstate announced it would stop its home insurance programs in California in response to increased risk from wildfires and high building costs. And finally, construction is on the downswing as building new housing units becomes more expensive.
5-6-2023 • 9 minuten, 23 seconden
Oil prices rise as OPEC+ slashes production by a million barrels a day
From the BBC World Service: Oil prices rise after OPEC+, the organization enabling the cooperation of leading oil-producing countries in order to collectively influence the global market and maximize profit, cut production by a further million barrels a day. Oil analyst Cornelia Meyer explains why they’ve done it. Plus the BBC’s Archana Shukla reports from India on the train crash that’s cost at least 275 lives. And finally, China aims for the moon as it invests in the new space race.
5-6-2023 • 7 minuten, 49 seconden
Job openings rose a lot…but so did unemployment
Today’s jobs report is in the books, and it showed something that economists didn’t expect: a rise in unemployment combined with a huge boost in the number of jobs added. FHN Financial Chief Economist Christopher Low explains what the data could mean, including that the quality of job openings could be falling. Plus, what’s inside the debt deal that passed the Senate last night? And finally, economist Monica de Bolle helps break down what’s gone so wrong in Argentina’s economy.
2-6-2023 • 8 minuten, 59 seconden
Debt ceiling drama — done
President Biden overcame the final legislative hurdle to raising the nation’s debt ceiling last night as the Senate voted 63-36 in favor of the compromise agreement struck with House Speaker Kevin McCarthy last weekend. We look at what’s in the final agreement as it goes to the White House for the final sign-off. And finally, Argentina’s economy is in tatters as people deal with inflation over 100% — the BBC’s Leanna Byrne explains how that’s been affecting people on the ground.
2-6-2023 • 9 minuten, 3 seconden
Fresh U.S. sanctions on Sudan as fighting rages
From the BBC World Service: Sudanese companies and individuals have been hit with new economic restrictions as an intense power struggle continues to cause devastation in the country. Dr. Mehrzad Boroujerdi, a U.S.-based policy analyst, believes it will take more than just sanctions to end the conflict. iPhone maker Foxconn has followed through on a plan to expand production into India by the end of the year. And find out why the pandemic has changed how we eat lunch at work.
2-6-2023 • 8 minuten, 36 seconden
Finding Your Place: a special report on the economics of homelessness
How did homelessness become such a defining and intractable economic issue in America? What are the root causes of the recent rise in homelessness, and more importantly, how do we fix it? In this special report, we delve into six different facets of the fight against homelessness to get a better sense of what people have been going through — and what that can tell us about how to tackle the issue that’s been vexing mayors and legislators across the nation for decades.
2-6-2023 • 29 minuten, 57 seconden
Caught between a job and homelessness
Part of the advice normally prescribed as a “cure” to homelessness is getting a job. But what happens when the work people do still isn’t enough to afford a place to live? A new study from the Economic Roundtable nonprofit delves into the surprisingly-high rate of homelessness amongst California fast food workers. Plus, businesses in some resort towns are offering subsidies for landlords to rent to local workers.
1-6-2023 • 9 minuten, 56 seconden
A bipartisan vote sends the debt deal to the Senate
After a bipartisan vote on the debt deal in the House of Representatives last night, the compromise legislation looks to be on its way to becoming law. We look at what the spending cuts in the bill, totaling about $1.5 trillion, could mean for the economy. Plus, organizations that provide services to people experiencing homelessness are finding it hard to staff enough workers. And finally, Amazon has agreed to pay $31 million to settle allegations that it improperly handled the data of children collected by its Alexa voice assistant.
1-6-2023 • 9 minuten, 18 seconden
Dubai, Abu Dhabi broaden incomes with tax hike
From the BBC World Service: The United Arab Emirates, for many years a zero-tax economy, has introduced new corporate tax rates for businesses. That comes as the country’s government seeks to move away from reliance on oil revenues. Plus, the BBC’s Nkechi Ogbonna reports from Nigeria, where a planned end to oil subsidies has led to a rush in people stocking up at fuel depots.
1-6-2023 • 8 minuten, 28 seconden
Hollywood choreographers are looking to unionize, too
It’s not just Hollywood writers who have been lobbying for better working conditions — TV and film choreographers are also working toward establishing a fully-fledged union. We look at what workers want and what that could mean for the entertainment industry. Plus, we delve into the deep connection between two chronic and often-intertwined problems in America: mental health and homelessness.
31-5-2023 • 8 minuten, 27 seconden
In some places, living unsheltered could become a crime
There are moves afoot in numerous states and cities to criminalize elements of homelessness, including living in encampments. As part of our ongoing “Finding Your Place” series exploring the issue, we talk to Ann Oliva, CEO of the nonpartisan National Alliance to End Homelessness, about these moves and what they say about the debate over how to handle the unhoused crisis. Plus, a group of players in the AI space has issued a stark warning that calls for greater regulation of the technology. And finally, the Sackler family, owners of Purdue Pharma, has reached a $6 billion opioid settlement that also shields those individuals from civil liability.
31-5-2023 • 8 minuten, 51 seconden
Is AI really a risk to humanity? Some CEOs say the opposite
From the BBC World Service: Tech industry leaders have repeated calls for controls on artificial intelligence to protect humanity. But Greg Jackson, CEO of Octopus Energy in the UK, says it’s transforming work for the better. And in Ukraine, the BBC’s Joe Tidy reports how demand for drones is skyrocketing as a new front emerges in its conflict with Russia.
31-5-2023 • 8 minuten, 53 seconden
Boeing and Airbus might have a new rival: China
China’s nascent civilian plane-making industry notched a recent win when the Comac C919, the country’s first domestically-produced passenger jet, carried a cabin full of passengers for the first time. We look at what that could mean for the established aviation duopoly of Boeing and Airbus. Plus, this week should be no short of economic news, according to Julia Coronado, president of MacroPolicy Perspectives. And, a look at how initiatives to address homelessness are being slowed by a lack of government funding.
30-5-2023 • 8 minuten, 36 seconden
Finding Your Place: How unaffordable housing drives homelessness
If there’s been a defining trend in American cities thus far in the 21st century, it’s been the rise of housing prices to astronomical levels. That’s also meant a huge increase in the number of people who aren’t able to afford a place to live, according to Gregg Colburn, a professor at the University of Washington who co-authored the book “Homelessness Is a Housing Problem: How Structural Factors Explain U.S. Patterns.” We spoke with him as part of our new “Finding Your Place” series exploring the reality of homelessness in America. And finally, the debt ceiling deal struck over the weekend faces a legislative test in Congress.
30-5-2023 • 9 minuten, 16 seconden
iPhone manufacturer hikes pay ahead of new model launch
From the BBC World Service: Ahead of the launch of a new iPhone model, Apple supplier Foxconn is ramping up efforts to recruit more workers for the world’s largest iPhone factory. Delegates from 175 countries are meeting in Paris for a major conference on ending plastic pollution. In Portugal, the housing crisis is getting worse, despite new government measures to try to control it; in Lisbon, the average rent is now three times the minimum wage.
30-5-2023 • 8 minuten, 18 seconden
Now that there’s a debt deal, what does it need to pass?
President Biden and House Speaker Kevin McCarthy announced this weekend that they had struck an agreement on raising the nation’s debt ceiling in exchange for spending cuts over the next two years. We look at what’s in the joint proposal, and why its passage in Congress may involve wrangling the votes of holdout legislators. Plus, one factor that’s contributing to rising rents and house prices are demographic trends, including more people living alone. And, a look at how Disney’s “The Little Mermaid” film is boosting businesses that make “real” mermaid tails.
29-5-2023 • 9 minuten, 19 seconden
Memorial Day travel is up, but RV sales aren’t
It’s Memorial Day, which means lots and lots of people across the country are on the move in their cars and campers. But even as the holiday travel season is expected to break records, sales of new RVs are not following suit. Plus, Turkish President Erdogan has won a second term in office following a runoff election on Sunday. And finally, we talk with the BBC’s Will Bain about what the CEO of Binance, one of the major crypto trading firms, had to say about the future of regulation in the digital currency space.
29-5-2023 • 8 minuten, 29 seconden
Turkey’s President Erdogan wins another term in office
From the BBC World Service: Turkey’s Recep Tayyip Erdogan has secured another five years in power. We look at what went on during Sunday’s election. It’s the 70th anniversary of the first successful ascent of Mount Everest, but you’ll need a lot of cash to follow in the footsteps of Sir Edmund Hillary and Tenzing Norgay. Despite Lebanon’s economy being in disarray, the club scene in its capital, Beirut is still going strong.
29-5-2023 • 8 minuten, 12 seconden
Inflation rose again. Will that sway the Fed on rates?
The Fed’s interest rate fight just got more complicated — the central bank’s preferred gauge of inflation indicated that prices rose 0.4% last month, a speed-up from the previous month that saw a 0.1% increase. We talk to Christopher Low, chief economist at FHN Financial, about what that could mean for interest rates. And finally, a look at how drag show businesses in Nashville are doing amid the state’s attempted crackdown.
26-5-2023 • 8 minuten, 44 seconden
Hopes rising in Washington for a done debt deal
The deadline for Congress to raise the debt ceiling is fast approaching, but if signals from top Congressional Republicans and the Biden administration are to be believed, a deal may be imminent. We look at the latest developments in the saga. Plus, schools are on the frontline of what the Surgeon General called social media’s harmful effects on young people. And finally, there’s a whole industry around mock-up mermaid tails that’s getting a boost from Disney’s The Little Mermaid film releasing today.
26-5-2023 • 8 minuten, 40 seconden
Could Turkey’s President Erdogan secure another term in office?
From the BBC World Service: Voters in Turkey head to the polls on Sunday for a runoff second-round presidential election. We look at the likelihood of a win for incumbent President Erdogan. Plus, pasta prices in Italy have soared over the past year due to high energy costs, bad weather and supply chain disruption; but there may be some good news on the horizon.
26-5-2023 • 7 minuten, 50 seconden
In most cities, you’re better off renting than buying a place
The conventional wisdom of old said that more often than not, buying a place to live is cheaper than renting. That’s no longer the case except for four major U.S. cities — Detroit, Philadelphia, Cleveland and Houston. We look at how housing prices have gotten so high and why they’re likely to stay elevated. Plus, the AI boom is driving up demand for microchips, but there are still barriers the industry faces like geopolitical tensions and supply chains. And finally, the BBC reports on a proposal in Spain to subsidize bars in rural towns, which often serve as community social hubs in the countryside.
25-5-2023 • 8 minuten, 10 seconden
Is critical U.S. infrastructure safe from foreign hackers?
Microsoft and intelligence agencies are warning that a hacking group sponsored by the Chinese government has infiltrated critical infrastructure in the U.S. We look at the evolving situation and what’s been said so far. Plus, Germany’s economy has fallen into a technical recession after two straight quarters of negative growth driven by low consumer spending. And, voters in Turkey go to the polls again this weekend to vote in the presidential runoff election — older people are considering how high inflation could affect their economic wellbeing.
25-5-2023 • 8 minuten, 20 seconden
Germany’s economy slips into recession as consumers hold back
From the BBC World Service: A recession is commonly defined as the economy shrinking in two successive quarters — that’s just what’s happened to Germany, mainly because higher energy prices have hit household budgets and that’s put the brakes on spending. It’s Europe’s biggest economy, so what’s the wider impact? Plus, the International Monetary Fund has approved a multi-billion dollar loan for Ivory Coast. And, we hear from rural Spain where a plan is being considered to help subsidize bars in depopulated areas which have become vital community hubs in a country where 90% of the population lives in urban areas.
25-5-2023 • 7 minuten, 51 seconden
The party’s over — Netflix unveils its password-sharing crackdown
It’s finally happening. After a slew of setbacks, Netflix has finally released details on its password-sharing crackdown, including an $8 per month fee for people wanting to share account details outside of their respective households. We look into how slowing subscriber growth has played into the company’s decision. Plus, the BBC reports on France’s new law prohibiting short-haul flights between destinations that also have a train connection that would take under 2.5 hours. And, we talk with Yeshiva University professor Abraham Ravid about the origins of the Hollywood writers’ strike.
24-5-2023 • 8 minuten, 22 seconden
One casualty of tighter pocketbooks: healthcare
A new report from the Fed paints an alarming picture for many people’s personal finances — a growing number of Americans are deciding to forgo healthcare coverage because of the cost. We look at what that means for people’s well-being and what it says about the economy. Plus, enrollment at community colleges is up this year, especially in programs that focus on the culinary arts. And finally, a chat with Steven Durlauf, professor at the University of Chicago’s Harris School of Public Policy, about new research that delves into how generational wealth is created.
24-5-2023 • 8 minuten, 52 seconden
France is cutting flights, but will the move cut carbon?
From the BBC World Service: A few years ago, France came up with an idea to cut carbon emissions — reduce some short domestic flights and that’s now been signed into law. It affects flights where there’s an option to take a train in less than two-and-a-half hours instead. But how comprehensive and impactful will it really be? And, another industry under scrutiny is steelmaking which is responsible for 8% of global carbon emissions. We hear from a project in northern Sweden where they’re trying to do away with old carbon-intensive coal-fired blast furnaces.
24-5-2023 • 8 minuten, 28 seconden
Which dominoes fall first if the debt ceiling is breached?
As negotiators try to avert a U.S. government debt default, there are questions about what spending would be first on the chopping block in a doomsday scenario. We look at how a potential debt limit breach could play out, starting with benefit checks and public sector salaries. Plus, a check-in with Dr. David Kelly, Chief Global Strategist at JPMorgan Funds, about how investors think the Fed should act at its next interest-rate-setting meeting. And finally, This is Uncomfortable host Reema Khrais tells us about the podcast’s most recent season delving into the business of women selling their eggs.
23-5-2023 • 9 minuten, 10 seconden
Let the TikTok legal battles begin
TikTok has filed the first legal challenge against Montana’s statewide ban on the social media platform since the law was enacted earlier this month. We look at what both sides are likely to argue in the upcoming court battle. Plus, electric-vehicle makers are looking to shore up their supplies of lithium, a key ingredient in batteries, as competition for the resource intensifies. And finally, work requirements for social benefit programs like SNAP — formerly known as food stamps — are on the table as the White House and Congress race toward a deal to raise the debt ceiling.
23-5-2023 • 8 minuten, 26 seconden
How China became a global auto giant
From the BBC World Service: China is now the world’s biggest exporter of cars, helped by a massive growth in electric vehicle production. We look at how it caught up to more established brands. Plus, Thailand’s radical decriminalization of cannabis last year has led to a boom in marijuana-related businesses. But a recent election could lead to a U-turn in the way the country treats the drug.
23-5-2023 • 7 minuten, 42 seconden
EU levies biggest-ever data privacy fine against Meta
European regulators announced today that Meta, Facebook’s parent company, would have to pay a $1.3 billion fine for violating EU rules around internet users’ data privacy. We delve into what went into the decision, as well as what it means for the company going forward. Plus, we check in with Julia Coronado, president of the National Association for Business Economics, about what the group’s latest survey of economists says about the likelihood of a recession on the horizon. And, there’s a move toward “green steel” that’s seeking to de-carbonize the heavily-polluting steelmaking industry.
22-5-2023 • 9 minuten, 35 seconden
Inside the discriminatory origins of welfare work requirements
The scramble to raise the nation’s debt ceiling has featured prominent calls by Republicans to impose stricter work requirements for recipients of welfare. But today’s debate on Capitol Hill stems from a much older fight over how the poor qualify for benefits. We spoke with Krissy Clark, host of Marketplace’s investigative podcast The Uncertain Hour, about how racial bias played into the formation and early implementation of the rules we know today. And, this summer travel season may be record-setting, according to experts, as the pandemic emergency officially comes to an end worldwide.
22-5-2023 • 8 minuten, 26 seconden
China strikes back with its own chip ban
From the BBC World Service: Microchips power everything from cars to smartphones, and they’re now at the center of a global power struggle. The U.S. has been restricting China’s access to high-end chips in recent months, all in the name of national security. Now China has hit back, banning some of the chips made by U.S. firm Micron. We look at the method behind the move. Plus, there’s been an election in Greece where the economy was a key issue. So how is the country faring years after the debt crisis? And, we hear from pop star Jason Derulo on the investments he’s made away from music.
22-5-2023 • 9 minuten, 22 seconden
What’s it going to take to get a debt ceiling deal?
There’s optimism from congressional leaders and the White House that we could see a vote on some sort of legislation to raise or suspend the debt limit as early as next week. But the clock is still ticking. We’re getting closer to June 1, the date that the Treasury Department has said could be when the U.S. runs out of money to pay its bills. Ian Bremmer, president of the risk consultancy Eurasia Group, breaks down the political standoff. And, the repercussions of a Supreme Court ruling yesterday that pop artist Andy Warhol violated copyright law in his creation of a silkscreen portrait of the musician Prince. Will it stifle creativity for artists going forward?
19-5-2023 • 8 minuten, 32 seconden
The internet as we know it is still intact
That’s because internet platforms are hanging on to a key legal shield that protects them from being liable for what users post. That shield is called Section 230, and the Supreme Court sidestepped directly addressing it in a pair of rulings that came out Thursday. We have more on the two cases that sought to make social media sites liable for terrorist content. Also, congressional leaders and the White House say there’s at least some progress on negotiations to raise or suspend the debt limit. And, the latest stop on Taylor Swift’s tour, which is selling out venues across the country. The tour’s economic impact is one few other artists can replicate.
19-5-2023 • 8 minuten, 17 seconden
Russian diamonds added to sanctions
From the BBC World Service: Russian diamonds are being added to the latest round of sanctions as the leaders of the G-7 nations meet in Hiroshima, Japan. The BBC’s Nick Marsh reports from there. Plus, the cost of the floods in northwest Italy will be in the billions of dollars. We hear from two people affected. And, finally, what’s the environmental cost of surfing? The BBC’s Clare Marshall has been finding out.
19-5-2023 • 7 minuten, 35 seconden
Unemployment claims are no longer ultra low
The labor market is still tight, don’t get us wrong. Many employers are still looking for workers. And the economy is so resilient that the Fed has reason to be worried about sticky inflation. But all that said, jobless claims are ticking up. We’re keeping an eye on that with Diane Swonk, chief economist at KPMG. Plus, Russia has agreed to extend a deal allowing Ukrainian grain exports to safely travel out of the Black Sea. This helps both Ukraine and the lower-income countries that could use some relief from high food prices. And, why the unemployment rate for younger workers is so high in China.
18-5-2023 • 8 minuten, 5 seconden
Americans are spending on gambling
New data from the American Gaming Association show that revenues for the legal gambling industry totaled almost $17 billion in just the first three months of the year. Plus, a major opioid crisis settlement between the city of San Francisco and Walgreens. The city’s attorney says it’s the biggest award to a municipality in a case involving opioids. And, public spending on preschool has stagnated for two decades when you adjust for inflation, according to a new report. A big part of increasing public support for early education is finding more teachers.
18-5-2023 • 8 minuten
Black Sea grain keeps flowing — for now
From the BBC World Service: An agreement allowing Ukraine to export millions of metric tons of grain through the Black Sea, despite Russia’s ongoing war, has been extended. The deal will allay concerns over global food supplies, but it only lasts 60 days. And, the British telecoms group BT plans to shed 40% of its staff in the coming years as part of a major shake-up. Plus, as end-of-year college exams loom, we look at the impact of apps like ChatGPT on the world of education.
18-5-2023 • 9 minuten, 41 seconden
For the first time since early pandemic, supply chains have capacity to spare
That’s according to a new report this week from the consulting group GEP. And it’s partly because companies have been able to get rid of their mountains of unsold stuff. Plus, more data on consumer behavior in this economy. Big-box retailers are seeing sales stagnate some, but there are some bright spots in housing construction data. And, the rise of Wrexham. The economics behind a small Welsh soccer team’s ascension, thanks to some Hollywood investment.
17-5-2023 • 8 minuten, 29 seconden
“Economic coercion” is on the G-7 agenda
Economic coercion is essentially economic bullying. And later this week at the Group of Seven summit in Japan, the U.S. and its allies are expected to tackle this problem. There are many examples of this form of economic retaliation, and recently China’s economic policies are under scrutiny. We speak with someone whose jobs it is to address these international economic issues, U.S. Trade Representative Katherine Tai. Plus, we look at the Biden administration’s latest challenge to a big corporate merger, this time in the pharmaceutical industry.
17-5-2023 • 8 minuten, 53 seconden
Europe is leading on AI laws. Will the U.S. follow?
From the BBC World Service: As the ChatGPT creator warns of the dangers of artificial intelligence, we hear from a European lawmaker involved in drawing up the world’s first comprehensive AI legislation. He thinks the U.S. will follow suit. And, we look at how Welsh soccer club Wrexham has fared under the ownership of American actors Ryan Reynolds and Rob McElhenney. They’ve helped turn the club’s fortunes around and have become the poster boys for U.S. investment in European soccer.
17-5-2023 • 9 minuten, 24 seconden
Revisiting the banking bedlam this year
There are multiple congressional hearings underway today to take a look back at what happened with the failures of Silicon Valley Bank and Signature Bank earlier this year. In the Senate, we’re hearing from former executives of those banks. In the House of Representatives, the Federal Reserve’s top banking watchdog and other regulators are speaking. Also today: we have the latest data on retail sales. Consumers appear to be holding up pretty strong. And lastly, why you might be paying more for flood insurance.
16-5-2023 • 9 minuten, 27 seconden
AI is on Capitol Hill today
Generative artificial intelligence has gripped the world’s imagination with its potential to disrupt our economy and way of life. The Senate is tackling that today in a hearing which includes the chief executive of OpenAI. Plus, add up everything all of us consumers in this country owe and you will get … a bill of more than $17 trillion. What can this household debt number tell us about where the economy’s headed? And, a change to Medicare that Congress is considering which could save the federal government as much as $150 billion over a decade.
16-5-2023 • 8 minuten, 55 seconden
Game on? Europe approves Microsoft’s Activision deal
From the BBC World Service: The European Union has given the green light to Microsoft’s $68 billion acquisition of Call of Duty-maker Activision Blizzard. Meanwhile, the U.K. antitrust regulator is standing firm on its view the transaction will be bad for consumers, and it’s still being challenged in the U.S. Plus, telecommunications giant Vodafone is cutting 10% of its workforce after missing targets. And, the Sudanese film industry has reached a major milestone: a movie from the country has made the official selection at the Cannes Film Festival for the first time.
16-5-2023 • 8 minuten, 4 seconden
How did Turkey’s economy play a role in election voting?
Or maybe we should be asking how it’s continuing to play a role in voters’ decisions. The presidential election in Turkey is, after all, headed to a runoff after no candidate was able to secure at least half the vote. We check in with reporter Victoria Craig in Ankara for the latest, including how the candidates are approaching the economic situation in Turkey. Plus, a new Marketplace podcast looks to break down the basics about money and financial literacy, lessons we should all get when we’re younger but often don’t. The show is called “Financially Inclined.”
15-5-2023 • 9 minuten, 35 seconden
The latest fossil fuel industry merger
They’re not exactly household names, but ONEOK and Magellan Midstream Partners are coming together in a deal valued at nearly $20 billion to create a behemoth in the energy industry. The deal will give ONEOK, which transports natural gas, a new role in the oil business. Plus, we use the news of a big Peloton recall to look at where the company is headed next. And, China’s government says it is open to foreign investors and businesses now that it has declared victory over COVID. But foreign businesses aren’t quite so sure they’re really welcomed.
15-5-2023 • 9 minuten, 47 seconden
Turkey’s presidential election heads for runoff
From the BBC World Service: Turkey’s President Recep Tayyip Erdoğan is leading the presidential election, but he’s just shy of winning a key 50% of the vote. That means a runoff with opposition candidate Kemal Kılıçdaroğlu is expected in a few weeks. Victoria Craig joins us from Ankara for more. Plus, the BBC’s Leonardo Rocha reports on Argentina as it raises interest rates to 97%. And, China announces a raft of measures aimed at encouraging couples to have children.
15-5-2023 • 10 minuten, 8 seconden
How conflict in Sudan is spilling into the global economy
The civil conflict between rival military factions in Sudan has carried a big human cost thus far — over 600 people have died so far, according to the UN. Some knock-on effects of the conflict are also appearing in the global economy. We chat with the BBC’s Will Bain about how the global supply of gum arabic, a raw material used in a bevy of consumer products, is at risk. And, we check in with Christopher Low, chief economist at FHN Financial, on how people in financial circles are reacting to the debt ceiling fight in Washington.
12-5-2023 • 8 minuten, 56 seconden
Are the days of sky-high egg prices behind us?
One of the highlights from this week’s Consumer Price Index inflation report: prices for “food at home” fell for a second month. We look at how egg prices have tumbled from their highs earlier this year. Plus, today’s planned debt ceiling negotiations between President Biden and Congressional leaders have been scrapped, but both sides are saying it’s not a sign of a wider breakdown in talks. And, the BBC’s Victoria Craig reports from Turkey on how the war in Ukraine has affected housing prices in some Turkish cities.
12-5-2023 • 8 minuten, 6 seconden
Turkey goes to the polls in pivotal election
From the BBC World Service: Polls are tight in Turkey ahead of this Sunday’s crucial presidential election, where the faltering economy is in the spotlight. We look at what both candidates are saying as voters head to the polls. Plus, the UK economy is doing better than expected, according to the latest GDP figures, which are up 0.1%. And, Liverpool in the UK is expecting an economic boost as it prepares to host the Eurovision Song Contest on Saturday.
12-5-2023 • 7 minuten, 8 seconden
Google races to catch up in big tech’s AI craze
Google is pushing in its chips to compete with OpenAI and other big tech companies in the race to develop increasingly complex artificial intelligence. We look at what the company’s CEO, Sundar Pichai, had to say about the ongoing AI arms race going on in Silicon Valley and how Google is planning to compete. Plus, the Bank of England has hiked interest rates, which comes at a time of economic stagnation in addition to eye-watering inflation. And, we chat with Bob Brown of The CPA Solution about the biggest municipal fraud scheme in U.S. history.
11-5-2023 • 8 minuten, 57 seconden
Yellen warns of global financial chaos ahead of U.S. debt deadline
With about three weeks left before the U.S. government runs out of money to pay its dues, Treasury Secretary Janet Yellen is saying at a meeting of G7 finance ministers that the wider global economy is at risk if the White House and Congressional Republicans fail to reach a deal. Plus, Title 42, a key pandemic-era border rule, expires today. We look at how the post-pandemic recovery led to an influx in border crossings. And, new guidelines on mammograms could help women screen out breast cancer earlier, but it also comes with extra costs.
11-5-2023 • 8 minuten, 12 seconden
How is Europe looking to regulate artificial intelligence?
From the BBC World Service: With rapid gains being made in the world of AI, regulators are now scrambling to catch up. Lawmakers in Europe are today considering new rules to manage the industry. We hear from one of those who’s been involved in drawing up the legislation. Plus, markets are poised for another rate rise from the Bank of England. And, how Cairo could become a center for fashion as it hosts its first Fashion Week this weekend.
11-5-2023 • 9 minuten, 35 seconden
Inflation tapered again — where does the Fed go from here?
Today’s Consumer Price Index data on inflation is out, and it showed something that will buoy the spirits of monetary policymakers everywhere — inflation again tapered, the tenth-straight month of decline. Susan Schmidt, Head of Public Equities at the State of Wisconsin Investment Board, helps us break down the latest report. Plus, the BBC spoke with an executive at the German carmaker BMW about the Inflation Reduction Act. And, the rising cost of food in Turkey, which is part of the country’s broader economic problems, is affecting voters’ opinions ahead of upcoming elections.
10-5-2023 • 7 minuten, 55 seconden
The good times may be slowing for Airbnb
Airbnb reported its first-quarter earnings yesterday, and it was a thoroughly mixed bag for investors. On one hand, last quarter looked pretty good — on the other, the gig-work hospitality company is projecting fewer bookings even as the summer travel season kicks off. We take a closer look at what the report says. Plus, states in the Mountain West are experiencing inflation at higher rates than other regions, partly due to high prices at the pump. And, the United Nations is turning to GoFundMe to raise money to avert an ecological disaster in war-torn Yemen.
10-5-2023 • 8 minuten, 24 seconden
BMW: Infrastructure more important than green subsidies
From the BBC World Service: BMW Chief Financial Officer Nicolas Peter tells us that President Biden’s Inflation Reduction Act confirms they’re heading in the right direction as an organization, but it’s infrastructure, not subsidies, that the industry needs. Plus, ex-NFL star JJ Watt explains why he’s investing in an English Soccer team. And finally, BBC’s Sydney reporter Phil Mercer reports from Australia the government has brought 10 days of paid leave to help those suffering domestic abuse.
10-5-2023 • 7 minuten, 13 seconden
Banks get a health checkup from the Fed
The Fed’s closely-watched Financial Stability Report was released yesterday, and monetary policymakers pointed to some areas of concern like commercial real estate loans. But there were also signs of resilience in the banking sector. Plus, Apple co-founder Steve Wozniak spoke with the BBC about the dangers of rapid artificial intelligence development. And, a recent survey conducted by the National Federation of Independent Business says that small business owners are increasingly gloomy about the short-term future of the economy.
9-5-2023 • 8 minuten
Why has the debt limit spat lingered for so long?
The debt ceiling fight between President Biden and House Republicans is getting closer and closer to the 11th hour as both sides make scant progress toward a compromise. Marketplace’s Nova Safo explains what’s on tap today for the latest round of negotiations, and why the talks are unlikely to bear any fruit. Plus, airlines are bracing for a potentially record-setting travel season this summer. And, the BBC’s Samira Hussain looks at the growing prevalence of “nearshoring” as tensions between the U.S. and China damage trade relations.
9-5-2023 • 8 minuten, 57 seconden
Apple co-founder warns of the perils of AI
From the BBC World Service: Steve Wozniak, the co-founder of Apple, tells the BBC that AI needs to be properly regulated as he warns of the potential for scams. Plus, Dan Harris, a lawyer working with foreign companies in China, says many foreign businesses are thinking of leaving after yet another U.S. company is subjected to a search. And finally, BBC’s Samira Hussain reports from Monterrey, Mexico where business is booming as American companies relocate closer to the U.S.
9-5-2023 • 7 minuten, 6 seconden
Warren Buffett talks shop at Berkshire annual “festival”
Berkshire Hathaway shareholders converged on Omaha, Nebraska this weekend for the conglomerate’s annual “festival”, where Warren Buffett and Co. gave their takes on the economy. We look at what key players said about the road ahead. Plus, the Fed releases a report today about what bank loan officers have been up to, which comes on the heels of the collapse of First Republic Bank. And, what public holidays in the UK, dubbed “bank holidays”, mean businesses in that country.
8-5-2023 • 7 minuten, 59 seconden
Why it’s a good time to be a post-college job seeker
The blockbuster jobs report released last week had particularly good news for one group of job-seekers: young people who have recently graduated college. According to the data, the job market is a lot stronger than in previous years because employers are still desperate to hire. Plus, the Biden administration is slated to beef up protections for airline consumers dealing with flight cancellations and other delays. And, amid an ongoing teacher shortage, some schools that offer bilingual education are looking for teachers outside the country.
8-5-2023 • 8 minuten, 56 seconden
Oil sanctions bite as Russia raises taxes
From the BBC World Service: Oil analyst Viktor Katona explains why the EU and G7 sanctions have had the desired impact as the Kremlin increases taxes on domestic oil production. Plus, the BBC’s Catherine Byaruhanga reports from the South Sudan town of Renk as efforts to broker a peace deal in neighboring Sudan get underway. And, who are the business winners and losers of public holidays? The BBC’s Elizabeth Hotson reports from the UK, which has three such holidays this month.
8-5-2023 • 8 minuten, 2 seconden
Surprise, not so surprising? Another strong jobs report
Today’s jobs report came in stronger than expected, another sign that the labor market is staying tight despite the Federal Reserve’s best efforts. We talk to Christopher Low, chief economist at FHN Financial, about how that affects the central bank’s calculus going forward. Plus, CEOs from some of the biggest tech companies convened at the White House yesterday to discuss the future of artificial intelligence. And, a look at how the upcoming coronation of King Charles III comes against a completely different economic backdrop than his mother’s more than 70 years ago.
5-5-2023 • 9 minuten, 9 seconden
Companies could start using AI to boost worker productivity
The AI revolution is underway, and as with basically every new technology, businesses are finding ways to leverage it to boost worker productivity. We chat with Marketplace senior economics contributor Chris Farrell about the implications of a recent study that showed a marked increase in productivity among call center workers who used chatbots to interact with customers. And, some mid-sized banks in California and Arizona are seeing stock price jitters following the collapse of First Republic Bank — we look into what’s likely behind the volatility.
5-5-2023 • 8 minuten, 35 seconden
How TikTok tracked a journalist through her cat’s account
From the BBC World Service: TikTok has admitted that two employees in China and two in the U.S. viewed Financial Times journalist Cristina Criddle’s user data from her personal account without knowledge or consent. The BBC spoke with Criddle about her experience. Plus, the first images have been released from a $5 billion project to upgrade weather forecasting supercomputers aimed at improving warnings of violent storms. And, as the Coronation of King Charles III approaches, new coins have started to circulate with his head on them.
5-5-2023 • 7 minuten, 47 seconden
The future of interest rates looks…steady
The Federal Reserve rose rates yesterday, but could that have been the last we’ve seen of hikes for a while if the market is to be believed. We consult Diane Swonk, chief economist at KPMG, about what the future could hold based on what Fed Chair Jerome Powell said yesterday. Plus, tourism in China is looking to be back in full swing as the summer starts and the country’s economy continues to rebound from COVID lockdowns. And, the BBC’s Jonny Tickle reports on how an off-brand KFC in Russia compares to its American counterpart, which exited the country amid the war in Ukraine.
4-5-2023 • 8 minuten, 31 seconden
One company for all your tech — and banking — needs?
Apple’s recent forray into financial services got even more extensive earlier this month when the tech giant announced it would offer high-yield savings accounts in partnership with Goldman Sachs. So far, it’s looked like a winning prospect for the iPhone maker, with reports from Forbes saying that the company saw over $1 billion in deposits in the first four days after launch. Plus, Fed policymakers are changing their tone on future rate hikes after yesterday’s quarter-point increase. And, how a lawmakers in California are looking to encourage more diversity in the entertainment industry.
4-5-2023 • 8 minuten, 35 seconden
Will the European Central Bank follow the Fed and raise interest rates?
From the BBC World Service: Will the European Central Bank follow the Fed and raise interest rates for the EU? We ask Lena Komileva, from G+ Economics. Plus, the BBC’s Shingai Nyoka reports from Zimbabwe on former president Robert Mugabe’s family fortune after it was revealed in his daughter’s divorce papers. And, does Russia’s KFC copycat pass the taste test? BBC Moscow reporter Jonny Tickle has been to find out.
4-5-2023 • 7 minuten, 41 seconden
A big rate decision today for Jerome Powell and Co.
The Fed is expected to announce later today that it will continue its recent interest-rate-hiking trend, which comes amid a strong jobs report from the private payroll company ADP. We turn to Susan Schmidt, head of public equity at the State of Wisconsin Investment Fund, to break down what Jerome Powell and Co. could decide. Plus, the Fed’s inflation fight has hinged on raising rates to slow a tight labor market, and some signs like high-profile layoffs are pointing in that direction. And, we speak with Duke law professor Jennifer Jenkins about the court case playing out between Ed Sheeran and Marvin Gaye for alleged copyright infringement.
3-5-2023 • 8 minuten, 40 seconden
Ripples from the screenwriters strike reach beyond Hollywood
Screenwriters for TV and film went on strike yesterday after studios and the writers guild failed to come to a new contract deal. We look at how the work stoppage is affecting the industry further afield from Hollywood, particularly in the Atlanta metro area. Plus, bank stocks took a tumble yesterday after the announcement by federal regulators that First Republic Bank had failed and been acquired by JPMorgan Chase. Also, the collapse is likely to bring more regulation — and consolidation — to the banking industry. And, how the education field will change signficantly as generative AI explodes onto the scene.
3-5-2023 • 8 minuten, 22 seconden
UK watchdog plans to shake up stock listing rules
From the BBC World Service: The Chief Executive of the UK’s Financial Conduct Authority regulator has told the BBC the body will relax rules around Initial Public Offerings in Britain after a 40% decline on the London Stock Exchange in 15 years. Also, we hear from a professor of business after educational stocks take a hit with the advancement of AI. And, BBC Sport Correspondent Alex Capstick explains why the Women’s Soccer World Cup is at risk of not being shown across Europe.
3-5-2023 • 7 minuten, 51 seconden
As two grocery giants look to merge, rural towns watch in suspense
A proposed merger between two of the largest grocery chains in the country, Kroger and Albertsons, is under review by the Federal Trade Commission for antitrust violations. If it goes through, rural communities fear that the union could mean store closures and layoffs. We examine how past mergers play into fears today. Plus, a look ahead to tomorrow’s Federal Reserve interest-rate-setting announcement with Michael Pugliese, senior economist at Wells Fargo Corporate & Investment Banking. And, the nominee to assume the World Bank presidency is looking to retool the Bank’s programs to further emphasize the fight against climate change.
2-5-2023 • 7 minuten, 58 seconden
The debt ceiling fight just got a lot more real
The pressure is now on for the White House and House Republicans to strike a deal to raise the nation’s debt ceiling by the end of the month. Yesterday, Treasury Secretary Janet Yellen announced that the U.S. could run out of money to pay its bills as soon as June 1. We look at what the deadline means for negotiators in Washington. Plus, JPMorgan Chase’s deal to acquire the failed First Republic Bank means that the megabank will bring in a bevy of assets and new customers, but also a load of debt and restructuring headaches. And, the BBC’s Elizabeth Hotson reports on how confectioners are dealing with higher prices for producing candy.
2-5-2023 • 8 minuten, 27 seconden
The ‘Godfather’ of AI warns of the technology’s danger
From the BBC World Service: Geoffrey Hinton, one of the pioneers of Artificial Intelligence, quit his job at Google and has issued a stark warning to the BBC about the technology he helped create. Additionally, HSBC’s profits tripled in Q1 after acquiring Silicon Valley Bank UK. And Marketplace’s Leanna Byrne visits companies in the UK that are gearing up for the King’s coronation this weekend.
2-5-2023 • 7 minuten, 54 seconden
Could we be nearing the end of the banking crisis?
The failure and subsequent sale of First Republic Bank is the latest episode in the continuing fallout from the Silicon Valley Bank collapse in March. Yet there may be cause for cautious optimism this could be one of the final dominos to fall in the banking crisis. Julia Coronado, president of MacroPolicy Perspectives, tells us more about what could lay ahead. Plus, a deeper look into what exactly happened when financial regulators sprung into action overnight Monday. And, how Homeboy Industries, an LA-based nonprofit that rehabilitates formerly incarcerated and gang-affiliated people, is taking on the challenge of recycling clothing.
1-5-2023 • 8 minuten, 52 seconden
How the latest bank failure reshaped the financial industry overnight
The embattled First Republic Bank, one of the institutions caught in the wake of Silicon Valley Bank’s collapse, was acquired overnight by federal regulators and sold to JPMorgan Chase. It’s a massive, multi-billion dollar deal that makes America’s largest bank even larger. Erik Gordon, professor at the University of Michigan, explains what the collapse says about the financial industry. Plus, we look at how the construction industry is dealing with an ever-present shortage of workers.
1-5-2023 • 9 minuten, 9 seconden
First Republic becomes the second biggest bank to fail in U.S. history
From the BBC World Service: Overnight, First Republic Bank was taken under the stewardship of regulators, who then immediately sold it on to JPMorgan Chase, making it the second biggest bank in American history to fail. Banking analyst Frances Coppola talks us through the ramifications. Plus the BBC Business Editor in India, Arunoday Mukharji, reports on India becoming the world’s most populous country.
1-5-2023 • 8 minuten, 17 seconden
The economic crystal ball foresees another Fed rate hike
The latest measure of the Federal Reserve’s preferred gauge of inflation is out today, and it showed a considerable tapering in rising prices. But according to FHN Financial Chief Economist Christopher Low, the economic tea leaves are still saying that America’s central bank will likely hike rates again when its top interest rate-setting committee meets next month. Plus, we chat with Zanny Minton Beddoes, editor-in-chief of The Economist, about the news magazine’s recent edition highlighting the U.S. economy’s surprising long-term overperformance. And, what the latest rounds of layoffs at Gap Inc. say about the retail sector.
28-4-2023 • 9 minuten, 3 seconden
The case for stepping back when talking about the economy
Talking about the economy nowadays is a miserable affair — inflation, inequality, and other topics dominate an increasingly negative discussion. But over the longer term, the U.S. economy has actually outperformed when compared to nearly every other advanced economy, a recent issue of The Economist magazine finds. Zanny Minton Beddoes, editor-in-chief of The Economist, lays out the case for looking at the bigger picture. And, we spoke to E.J. Schultz, editor at the publication Ad Age, about the ongoing turmoil at beer maker Bud Lite about the recent sacking of two executives after the company’s campaign with a transgender influencer.
28-4-2023 • 8 minuten, 14 seconden
Could the North Sea become a green energy hub?
From the BBC World Service: With a desperate need to stop relying on Russian energy, there are plans to make the North Sea ‘Europe’s biggest green power plant’. We speak with Maurice Berns, head of the Boston Consulting Group Center for Energy Impact, about the idea. Plus, Brazil will continue to farm according to its own regulations, despite European Union laws banning the import of products linked to deforestation. And, rising sugar and cocoa prices are bringing a sour note to the confectionery industry.
28-4-2023 • 8 minuten, 17 seconden
The economy is slowing, but inflation’s sticking around
Monetary policymakers’ fight against inflation has centered around hiking interest rates to cool off the economy, and today’s economic data shows just that — GDP growth slowed considerably last quarter. But core inflation, a measure of price rises among goods that aren’t as volatile, rose at the same time. We ask KPMG chief economist Diane Swonk what that means for the Fed’s inflation fight going forward. Plus, new studies show that popular melatonin gummies contained amounts of the hormone that differed significantly from what had been advertised. And, a look at Texas’s recent push to eliminate sales tax period products like tampons and pads.
27-4-2023 • 7 minuten, 23 seconden
Are big banks following through on their climate pledges?
Big banks across the financial sector — including giants like JPMorgan Chase, Citigroup, and Bank of America — have made green pledges to reduce their contributions to climate change. But as a pair of new reports point out, the firms’ progress toward those goals has been slow even amid a period of high profitability. We look at why that’s been the case. Plus, the embattled First Republic Bank, one of the mid-sized financial institutions caught in the backblast of the collapse of Silicon Valley Bank, is in fresh trouble after its stock tanked this week. And, oil tankers are becoming more and more expensive for companies to hire because of Russia’s war in Ukraine.
27-4-2023 • 7 minuten, 31 seconden
Microsoft’s Activision play is far from a done deal after UK snub
From the BBC World Service: Microsoft’s president Brad Smith has been left fuming after the UK’s anti-trust regulator blocked the planned $70 billion merger with gaming giant Activision Blizzard. He told the BBC he’s disappointed with the UK approach and now sees the European Union as a better place for business investment. Britain’s Competition and Markets Authority is one of three key regulators considering the deal along with those in the U.S. and the EU. Plus, Deutsche Bank has allayed concerns over its health with a set of strong results, but First Republic has hit new lows. And, how the humble homemade sandwich is not immune to inflation.
27-4-2023 • 9 minuten, 46 seconden
Google sends mixed signals amid ad revenue slump
Google’s parent company, Alphabet, reported higher-than-expected profits yesterday, leading to a big stock buyback being authorized by CEO Sundar Pichai. However, that’s a seemingly contradictory move to the extreme cost-cutting measures the company announced this year in response to a slowdown in ad revenue, including layoffs of over 12,000 employees. Plus, a look at how the airline industry is doing amid widespread delays and flight cancellations. And, why fire insurance is increasingly hard to come by for companies that conduct controlled burns to prevent wildfires.
26-4-2023 • 8 minuten, 5 seconden
Turmoil at Fox News could — somehow — bring advertisers back
The chaos at Fox News in recent weeks amid the sacking of Tucker Carlson and the Dominion legal settlement has cast a spotlight on the network, which would normally be unwanted. But the chaos may actually end up bringing advertisers who had previously fled when Tucker took over primetime. And, we talk about the musings of the U.S. dollar’s decline with Council on Foreign Relations expert Zongyuan Zoe Liu.
26-4-2023 • 7 minuten, 54 seconden
Volvo CEO: Europe needs to hit the gas on green subsidies
From the BBC World Service: The head of carmaker Volvo joins the Marketplace Morning Report and tells us Europe needs to work harder to implement green subsidies to counter the impact of the Biden administration’s Inflation Reduction Act. Plus, British American Tobacco has been handed a $635 million fine for selling cigarette materials to North Korea. And, we finish by heading to Portugal, which has become the unlikely European capital for bicycle manufacturing.
26-4-2023 • 10 minuten, 35 seconden
First Republic reveals the severity of last month’s banking crisis
The embattled First Republic Bank, which was nearly a casualty of the banking crisis that saw the collapse of three banks in early March, released earnings yesterday that showed the institution lost $100 billion in deposits due to panic among consumers. We look at what that says about First Republic and the wider banking sector. Plus, how the housing market is looking as home price increases continue to slow. And, we talked to Jean Twenge, professor of psychology at San Diego State University, about her new book “Generations,” which explores the differences between people of different age groups.
25-4-2023 • 8 minuten, 35 seconden
Airlines are looking to reclaim their groove
Airlines aren’t doing the hottest at the moment — just look at the headlines about Southwest’s latest spate of flight cancelations. According to Samuel Engel, senior vice president at the consultancy ICF, that’s been due to higher labor costs and a slowdown in highly-profitable business travel. Plus, tech sector results from some of the industry’s biggest companies are out soon, which will shed light on how the AI race is playing out. And, what a weakening U.S. dollar means for companies at home and abroad.
25-4-2023 • 8 minuten, 49 seconden
Squid Game effect? Netflix doubles down on South Korean content
From the BBC World Service: Hoping to capitalize on the huge success of Squid Game, streaming service Netflix has announced that it is doubling its investment in Korean films and TV shows to $2.5 billion. Plus, is a fresh privatization drive coming to Russia as the head of a state-owned bank calls for extra investment? Russian economic analyst Alexandra Prokopenko gives us the details. And, the BBC’s Bernadette Kehoe looks at China’s plans to use 3D printing technology to construct buildings on the moon.
25-4-2023 • 7 minuten, 58 seconden
A collective shrug from economists on recession odds
A new survey out from the National Association for Business Economics that polled over 50 economists shows a collective “maybe” on whether respondents thought a recession will appear later this year. We chat with NABE president Julia Coronado about what the survey can tell us about the wider economy. Plus, we look at new power plant emissions guidelines to be proposed by the Environmental Protection Agency. And, senior economics contributor Chris Farrell talks about the health insurance inequality trends between people with and without college degrees.
24-4-2023 • 8 minuten, 22 seconden
Car prices are falling, but there’s a catch for buyers
Prices for new and used cars are finally falling, but prospective buyers may have another hurdle to overcome: rising rates on loans. We look at what that could mean for people who are looking to make their next big auto purchase. Plus, this year looks to be a hot one with the prospect of an “El Niño” weather event, which could affect the economy. And, how some people are using cryptocurrency to track criminals through the blockchain.
24-4-2023 • 9 minuten, 3 seconden
The $69 billion bank run that sealed Credit Suisse’s fate
From the BBC World Service: New results from Credit Suisse have given an insight into its demise — nearly $70 billion was withdrawn in the first three months of the year, leading to its eventual forced sale to Swiss rival UBS. Also, Australia is the latest country to ramp up its military spending after a review found its armed forces need to be radically overhauled. Plus it’s been a decade since the Rana Plaza building collapse in Bangladesh; has the industry learned the lessons of the disaster? And, how Ryan Reynolds’ and Rob McElhenney’s soccer adventure paid off.
24-4-2023 • 7 minuten, 58 seconden
Bank result omens
Just about one week into companies reporting results for the first quarter, we take stock of what we’ve learned from banks sharing their numbers. For the most part, they seem to have done pretty well, considering the past three months included the sudden failures of Silicon Valley Bank and Signature Bank. But there are signs that the sector is bracing for a possible economic downturn in the months ahead. Also, the Muslim holy month of Ramadan has just ended and billions of people around the world are now celebrating Eid. A big aspect of the holy month, and the Muslim faith in general, is zakat or charitable giving. During the pandemic, charitable donations increased across the U.S. generally, and so did zakat. Then, inflation entered the mix.
21-4-2023 • 8 minuten, 49 seconden
Another place we’ve got U.S.-China tensions? Underwater.
As in undersea internet cables. The competition between the U.S. and China is about national security and economic security, and these cables that connect our global economy touch both. Reuters published an extensive report on how the U.S. and China are facing off over who should build these cables and where they should connect to land. We take a closer look. Plus, home sales usually surge in the spring. But so far that’s not been the case. We take a look at why and what’s happening with prices for housing.
21-4-2023 • 8 minuten, 47 seconden
$15 million of gold goes missing in heist at Toronto airport
From the BBC World Service: Canadian police are investigating a $15 million gold heist at Toronto Pearson International Airport. We’ll hear from the person who broke the story, Brian Lilley, a columnist for the Toronto Sun newspaper. Plus, how would you feel about floating through the stratosphere with the finest selection of French food and wine? That’s the aim of one company as the BBC’s Chantal Hartle explains. And the increased cost of celebrating Eid in Egypt this weekend. We hear from the BBC’s Yolande Knell.
21-4-2023 • 9 minuten, 4 seconden
How does one pay a $787 million settlement?
Media giant Fox, as you’ve likely heard, has agreed to settle with Dominion Voting Systems over defamation allegations against Fox News. The $787.5 million settlement could be the largest ever for a defamation case. How does Fox pay all that money? Plus, the Federal Reserve’s Beige Book is out. No, it’s not a New York Times bestseller. Yes, it does have some interesting things to say about where the economy’s heading and how different regions of the country were affected by that banking mess. We check in with Diane Swonk, chief economist at KPMG.
20-4-2023 • 8 minuten, 50 seconden
For cannabis industry, insurance is still a sticking point
4/20 is the day lots of Americans celebrate, or at least give a wink to, pot. While it’s a business worth tens of billions of dollars with its own holiday, cannabis remains illegal at the federal level in the U.S. That’s posing problems for entrepreneurs trying to get insurance in the 20 or so states where you can buy and sell it. Plus, the increasingly crowded electric vehicle industry and what that mean’s for Tesla’s profits. And, how COVID, politics and stigma are preventing the federal government from achieving its goals to end the HIV epidemic in the U.S., despite hundreds of millions of dollars of funding.
20-4-2023 • 8 minuten, 53 seconden
Will Turkey’s new natural gas discovery help Europe wean itself off Russia?
From the BBC World Service: Turkey flips the switch on the Sakarya natural gas field in the Black Sea today. President Recep Tayyip Erdoğan is promising consumers lower natural gas bills ahead of next month’s election, and these new resources will make the import-dependent country more resilient. It’s also hoped the supplies will eventually help Europe switch away from its dependence on Russia. Plus, what’s day-to-day life like for those stuck in the Sudanese capital Khartoum as fighting continues? And, women in Spain will soon be able to take sick leave for serious menstrual pain. But some fear it could lead to more workplace discrimination.
20-4-2023 • 9 minuten, 28 seconden
Um … what’s a DVD again?
Do you still own a DVD player? If so, and you’re relying on Netflix to watch those DVDs, it might be time to think of a new plan. Netflix is finally shutting down that part of its business. But why now? Plus, the European Union’s answers to the United States’ CHIPS Act. And, Indiana is one of 10 states that specifically prohibits undocumented college students from paying in-state tuition. That means an undocumented student in that state could pay nearly $17,000 more per year in tuition than their peers.
19-4-2023 • 8 minuten, 39 seconden
The sustained entrepreneurship boom
Starting a business was a trend during peak pandemic, and it looks to be continuing. That’s even though the country has opened back up and unemployment has gone way down. Last month, business applications increased again. Plus, with summer not too far away, many companies are getting ready to welcome new interns aboard. Employers expect to increase summer intern numbers by almost 10% this time around. That might have something to do with the tight labor market we’re still seeing in certain sectors. And, a deep dive into the private, for-profit industry that has grown up around enforcing work requirements for welfare. That’s the topic of the current season of the Marketplace podcast “The Uncertain Hour.”
19-4-2023 • 8 minuten, 49 seconden
Prices remain stubbornly high in the UK
From the BBC World Service: The rate of price rises slowed in the eurozone last month to about 7%, but inflation in the U.K. is still more than 10%. That’s despite continued expectations it will fall. We examine the U.K’s “sticky” price problem. Meanwhile, the European Union is boosting its semiconductor industry. And, why South Korea is cracking down on nepotism in the workplace.
19-4-2023 • 8 minuten, 34 seconden
Hollywood could be headed for a strike
Hollywood film and TV writers have voted almost unanimously to give their union the authority to call a strike. This would happen if negotiators fail to reach a new contract by May 1. We take a look at the sticking points. Plus, it’s worth taking stock on how far we’ve come in the fight against inflation. Believe it or not things are looking up. But wages still lag behind and it’s going to take some time before price rises slow to a more “normal” rate. And, many so-called affordable cities are not so affordable anymore. Take Houston, for example. It’s getting harder and harder for residents there to make ends meet.
18-4-2023 • 8 minuten, 31 seconden
Americans are “revenge dining”
Going out to eat is in right now. Spending at restaurants and bars was up 13% in March, compared to a year ago, according to the Census Department. That’s even as prices for meals outside the home kept rising and groceries got cheaper. Plus, there’s optimism that things are starting to turn in the housing market. We might see more buyers in the market going forward, but maybe not first-time buyers. And, the number of people in the U.S. choosing cremation over a casket burial is on the rise. How funeral homes are adapting.
18-4-2023 • 8 minuten, 27 seconden
China’s economy shakes off COVID curbs
From the BBC World Service: China’s economy rebounded by more than expected in the first three months of the year after the country dropped its strict COVID restrictions. What’s been driving the growth? And what does a recovery mean for the rest of the world? Plus, Apple opens its first retail store in India in a move which reflects its growing presence in the country. And, what would you pay for a T. rex skeleton? One’s up at auction in Switzerland for at least $5 million.
18-4-2023 • 8 minuten, 13 seconden
Keep an eye on those company results starting to trickle in
We got results from some of the bigger banks on Friday last week. This week we’ll hear from more banks like Bank of America and Morgan Stanley. This will give us a better picture of how interest rate increases are hitting bottom lines, but also the abilities of consumers and businesses to repay loans. Also today on the show: how government subsidies for more manufacturing production in the U.S. can backfire. We hear from one economist who says there are better ways to build resilient supply chains, decrease inequality and prepare for the clean energy transition.
17-4-2023 • 8 minuten, 19 seconden
Debt ceiling fight resumes with House back in session
Today House Speaker Kevin McCarthy will give a speech at the New York Stock Exchange outlining his case for cutting spending in return for raising the debt limit. Plus, negotiations in Europe over Poland’s ban on imports of grain and other agriculture products. It’s yet another economic consequence of Russia’s war on Ukraine. And, the case for keeping a more globalized economy intact from Adam Posen of the Peterson Institute for International Economics. He says that shoring up supply chains, addressing concerns about China and fighting inequality are all worthy causes, but that more protectionist economic policy is not the answer.
17-4-2023 • 8 minuten, 22 seconden
China counts the cost of construction as it writes off billions of dollars
From the BBC World Service: China has written off or renegotiated $76 billion worth of borrowing in the last 18 months that had been issued as part of its huge infrastructure project. Louise Loo, senior economist at Oxford Economics, tell us what this means for China moving forward. Plus, the BBC’s Adam Easton explains why Poland has placed a temporary ban on Ukrainian grain exports. And, can you buy happiness? One gaming giant hopes so as they launch a takeover for the company that makes Angry Birds.
17-4-2023 • 8 minuten, 5 seconden
It’s been a weird week of conflicting economic signals
It’s been a weird week for economy watchers. Amid seemingly contradictory signals, including a recession prediction from the Fed that came amid positive inflation data, we consult Christopher Low, chief economist at FHN Financial, about what to make of the bevy of economic information we got in the last few days. And, the BBC’s Leanna Byrne reports from Northern Ireland about the area’s economic ties with the United States in the wake of President Biden’s visit there.
14-4-2023 • 8 minuten, 38 seconden
Need financial advice? Some are asking AI — with mixed results
The AI chatbot takeover incentivized people to ask many questions normally reserved for human experts, and financial advice is no exception. But according to professionals working in the industry, there are clear limits on what AI can do — and what consumers should expect. Plus, recently-released data on bank profits showed a significant outflow of money from bank deposits into more “secure” locations. And, why sticker prices for new cars are finally coming down after an easing of supply chain troubles.
14-4-2023 • 8 minuten, 45 seconden
Biden says U.S. investment could be coming to Northern Ireland
From the BBC World Service: President Biden, who visited Northern Ireland this week, said U.S. firms are willing to pump ‘billions of dollars’ of cash into the Northern Ireland economy if there’s more political stability there. And, silver prices are at a year-long high — so what’s going on?
14-4-2023 • 8 minuten, 1 seconde
The Fed now says it expects a recession. Does that change anything?
Well, that’s a bummer: the Fed’s minutes released yesterday indicate that central bankers believe there will be a mild recession by the end of the year. While it’s not particularly surprising, it does dampen recent optimism surrounding lower-than-expected inflation data released this week. KPMG Chief Economist Diane Swonk helps us dissect what’s in the minutes. Plus, Walmart announced it is closing half of its stores in Chicago due to low profitability — we look at how big box retailers tend to struggle in cities. And, Texas is looking to retool its power grid to add safeguards against power outages as seen during recent extreme weather events.
13-4-2023 • 8 minuten, 39 seconden
How a historical housing scandal resonates 50 years later
More than 50 years ago, a nationwide housing scandal involving predatory real-estate speculators and the Federal Housing Administration hastened the decline of many urban centers like Detroit, Philadelphia, and New York City. Sunset Park, a neighborhood of Brooklyn, was among those hit particularly hard. We traveled to there with Majora Carter, a Bronx-based urban revitalization specialist, to explore the scandal and its enduring legacy. And, a federal appeals court has maintained access to an abortion drug previously blocked by a Texas lower court judge.
13-4-2023 • 9 minuten, 14 seconden
Grocery giant Tesco’s profits halve in a year
From the BBC World Service: One of the world’s largest grocery stores, Tesco, has announced that its pre-tax profits halved last year to $1.25 billion. We look at what’s driven the decline. Plus, Kenya is struggling to pay government workers due to its huge national debt, but the government won’t borrow to fix the problem. And, an Instagram post promoting eyeshadow by the French fashion company Dior has prompted an angry backlash from people in China.
13-4-2023 • 8 minuten, 40 seconden
Today’s inflation data is good news for the Fed
The latest Consumer Price Index data is out this morning, and it showed a slowdown in inflation that may tempt hope in policymakers the world over. We talk with Susan Schmidt, Head of Public Equity at the State of Wisconsin Investment Fund, who helps us unpack what’s behind the 5% inflation number and what that portends for the Fed in the months ahead. And, hear what Elon Musk had to say about Twitter’s recent headline-making problems in an exclusive interview with the BBC.
12-4-2023 • 8 minuten, 40 seconden
One casualty of a tight labor market? College enrollment
The announcement of the shuttering of a small college in Milwaukee later this year — one of more than half a dozen in the last year — is a sign of troubling times for higher education. We look at how a hot job market is incentivizing some would-be students to work instead of study, and what that could mean for the future workforce. Also, the Fed is due to release its much-watch meeting minutes later today. Plus, a snippet from the BBC’s exclusive interview with Elon Musk. And, how some “drone whisperers” in Ukraine are taking apart the machines to stop critical components from reaching Russia.
12-4-2023 • 8 minuten, 44 seconden
Twitter is ‘roughly break-even,’ Elon Musk says in an exclusive BBC interview
From the BBC World Service: Six months into his ownership of Twitter, Elon Musk sits down for an exclusive interview with the BBC’s James Clayton in San Francisco and tells him Twitter is ‘roughly break even’. It follows the cutting of nearly 75% of the company’s workforce since he bought the social media company. Plus, Pierre-Olivier Gourinchas, chief economist of the International Monetary Fund, tells us most economies will avoid going into recession this year.
Hear the full interview with Elon Musk: https://www.bbc.co.uk/sounds/play/p0fg670v
12-4-2023 • 10 minuten, 30 seconden
The White House takes a first step toward AI regulation
The Biden administration announced late yesterday that it wants to study what rules may need to be implemented to make sure so-called generative AI doesn’t threaten society. We look at what the government has said thus far, and how it could move forward on potential AI regulation. Plus, Alibaba, the Chinese e-commerce giant, has released its own rival to Microsoft’s ChatGPT and Google’s Bard AI chatbots. And, how some museums in the UK, including the famous British Museum, are dealing with requests from other countries to return artifacts that they claim were taken under duress or stolen.
11-4-2023 • 8 minuten, 55 seconden
Tupperware’s troubles reveal problems with direct-selling models
Tupperware’s stock tumbled yesterday after the company revealed it would need an infusion of investment money to keep afloat. We look at what the saga reveals about so-called “Tupperware parties” and the broader direct-selling model that some brands rely on. Plus, as the tax deadline rapidly approaches, an analysis of how immigrant workers and their families form a crucial revenue stream for all levels of government. And, how the recent spate of labor organizing has led to more workers filing complaints against their bosses — and how an understaffed NLRB is responding.
11-4-2023 • 8 minuten, 11 seconden
Hopes in Britain for a trade breakthrough as Biden visits Northern Ireland
From the BBC World Service: President Biden is set to begin his visit to Northern Ireland, marking the 25th anniversary of the Good Friday Agreement. We look at the American leader’s visit and what it could mean for trade. Plus, it’s the first day of a doctors’ strike in the UK as junior doctors demand a 35% pay increase. And, how the cost of living crisis has put the squeeze on Ramadan celebrations in Tanzania.
11-4-2023 • 8 minuten, 52 seconden
How new regulations could help EVs take over the roads by 2032
The Environmental Protection Agency is reportedly set to adopt rules on new vehicle emissions that could significantly boost the number of electric vehicles on the roads in less than a decade. We look into what happens going forward, and how the standards may affect what cars are on America’s roads by 2032. Plus, economist Julia Coronado walks us through the economic week and how inflation is continuing to remain “sticky.” And, the BBC reports on the economic and business legacy of the Good Friday Agreement that ended The Troubles in Northern Ireland.
10-4-2023 • 8 minuten, 49 seconden
A big week ahead in Washington for the global economy
The World Bank and the International Monetary Fund, the titans of international finance, start their joint spring meetings in Washington, D.C. this week. We talk with World Bank chief David Malpass about what he’s looking to discuss at the meeting, including the precarious debt positions of developing nations and rising interest rates in advanced economies. And, a look into how workers are dealing with lower wage increases as inflation remains stubbornly high.
10-4-2023 • 8 minuten, 45 seconden
Another Tesla Megafactory, this time in Shanghai
From the BBC World Service: Tesla announced that it will open an additional battery production factory in Shanghai that will complement the company’s existing facilities in the city. The electric car maker’s new factory will be capable of producing 10,000 battery megapacks a year. The UN warns that more than twenty African countries are at risk of not being able to repay some of their debts. On the 25th anniversary of the Good Friday Agreement, is Northern Ireland still reaping the economic benefits?
10-4-2023 • 7 minuten, 39 seconden
The jobs report shows a hiring decline, but is it enough for the Fed?
The government’s official jobs numbers dropped this morning, and it showed a slowdown in the number of workers being hired with an unemployment rate of 3.5%. That signals progress toward the Fed’s goal of cooling off the labor market, says FHN Financial chief economist Christopher Low, but it may not be enough to satisfy Jerome Powell and Co. Plus, we look at why Native Americans are often under-represented in government data and what can mean when big datasets like the jobs report come out. And, why Wyoming is still trying to solicit crypto investors amid the industry’s recent high-profile scandals.
7-4-2023 • 8 minuten, 28 seconden
Chipmaking giant Samsung to cut production amid slowing demand
Samsung, the South Korean electronics giant, reported that profits declined by a whopping 96% in Q1 of this year due to slowing demand for microchips and other electronics. We look at the company’s decision to cut production of microchips as a result of the news, and what that says about the wider economy. Plus, lumber prices may be coming down from sky-high pandemic rates, but that will likely do little to alleviate the housing crunch. And, a story of how a Native American group negotiated for the removal of a dam in North Carolina in order to restore the tribe’s land.
7-4-2023 • 8 minuten, 3 seconden
The Good Friday Agreement – 25 years on
From the BBC World Service: 25 years ago this weekend, the Good Friday Agreement brought an end to 30 years of conflict in Northern Ireland. Plus, an Australian mayor may sue the company behind ChatGPT after it falsely claimed he’d been jailed for bribery. And, in the UK, printing is underway of new banknotes featuring King Charles III.
7-4-2023 • 8 minuten, 42 seconden
Don’t forget those new green credits on your taxes this year
The tax filing deadline is approaching for most Americans, and a significant number will benefit from new green credits set out in the Inflation Reduction Act. We look at what these new tax credits are, as well as how they could benefit people who installed heat pumps, switched to solar panels or bought electric cars last year. Plus, new data shows that the number of people seeing unemployment benefits ticked down but remained higher than expected — KPMG Chief Economist Diane Swonk tells us what that could say about the labor market. And, why some people who were laid off are not seeking unemployment benefits.
6-4-2023 • 8 minuten
Meta throws its hat into the generative AI ring
Meta, the parent company of Facebook, is looking to follow tech giants Microsoft and Alphabet into the world of computational artificial intelligence — albeit a bit belatedly. We look into what the company is dubbing “SAM”, which is in development to complement AI systems like ChatGPT. And, amid news of charges against a startup CEO who allegedly defrauded JPMorgan of $175 million, we talk with DePaul accounting professor Kelly Richmond Pope about her new book on the complexity of modern financial fraud.
6-4-2023 • 7 minuten, 57 seconden
French workers continue their revolt over retirement age rise
From the BBC World Service: France is facing another day of strikes and protests after talks between trade unions and prime minister Elisabeth Borne failed to make progress. Unions say she refused to discuss rolling back on legislation raising the retirement age from 62 to 64. We hear from a train driver involved in the protests. Plus, thousands of people have taken to the streets in Argentina over spending cuts imposed as part of a $44 billion debt repayment deal with the International Monetary Fund. And, a copy of the first Shakespeare folio — a collection of some of his most famous plays — has gone on sale with a price tag of $7.5 million.
6-4-2023 • 7 minuten, 45 seconden
Why Trump’s arraignment could mean more gridlock in Washington
The indictment, arraignment and upcoming trial of former president Donald Trump in New York captured headlines yesterday, but it’s 200 miles away in Washington D.C. where the economic effects of the spectacle could be felt. We talk with the Eurasia Group’s Jon Lieber about what Trump’s legal imperilment could mean for polarization and policymaking on Capitol Hill. Plus, we chat with Lindsey Piegza, Chief Economist at Stifel Financial, about the latest trends in interest rates and today’s ADP jobs report. Also, Johnson and Johnson is looking to settle lawsuits over its talcum powder for around $9 billion. And, how Zimbabwean mining companies are being impacted by rolling blackouts across the country.
5-4-2023 • 9 minuten, 7 seconden
Is a wider job market cool-off starting to take hold?
There are signs that the job market cooldown, which has been slow to materialize, is starting to accelerate. Fresh data from the Labor Department released yesterday saw a marked decrease in job openings — while that may spell good news for the Fed’s fight against inflation, openings are still way above pre-pandemic levels. And, we speak with the University of Rochester’s Ranga Dias, who tells us about a potentially revolutionary breakthrough that researchers made looking into room-temperature superconductors.
5-4-2023 • 8 minuten, 19 seconden
Trade and war on the agenda as two of Europe’s leaders head to Beijing
From the BBC World Service: French President Emmanuel Macron and Ursula von der Leyen, the Head of the European Commission, are in Beijing. Will any deals be made on trade, and can they convince China to taper its support for Russia? The BBC’s Mariko Oi explains. Plus, BBC Correspondent Anna Holligan reports on a court’s decision to overrule a 10% reduction in flights from Netherland’s main airport.
5-4-2023 • 7 minuten, 48 seconden
Florida fights its nurse shortage at the root — by funding schools
Florida, the nation’s fastest-growing state, is in need of a lot more nurses to accommodate its growing population. One way it’s looking to fight the shortage is by routing more government funding to nursing schools to attract more students. Today, we get data on the number of job openings — we speak with analyst Guy LeBas about what could be in the release. And, there’s a new analysis out that shows the hottest jobs markets in the country are in states along the so-called “Sun Belt,” which includes cities like Austin and Nashville.
4-4-2023 • 8 minuten, 9 seconden
Failure to launch: Virgin Orbit files for bankruptcy
Virgin Orbit, the arm of billionaire Richard Branson’s larger company that sought to break into the space industry by launching satellites from airplanes, has filed for Chapter 11 bankruptcy protection. We look at what that means for the Virgin Group, and how it could affect the larger commercial space industry. Plus, we talk to Lee Hawkins, host of American Public Media’s upcoming podcast on the family of Dr. Martin Luther King Jr. and how their health has been impacted by the struggle for civil rights.
4-4-2023 • 10 minuten, 7 seconden
The price of beauty? L’Oreal to buy Australian beauty firm Aesop for $2 billion
From the BBC World Service: $2.5 billion — that’s how much the French beauty giant L’Oreal is buying Australian skincare brand Aesop for. It’s L’Oreal’s largest takeover in decades, but why did they want Aesop so much? BBC’s Phil Mercer in Sydney gives us the details. Plus, BBC’s Jane Chambers finds out why there’s an increase in the number of urban cowboys in Uruguay.
4-4-2023 • 8 minuten, 57 seconden
What calculus goes into central bank rate decisions?
One of the main jobs of central banks such as the Federal Reserve is to set interest rate targets, which can have wide-ranging effects on the economy. These days, amid shakiness in the banking industry and persistent inflation, that calculation has gotten harder. We speak with Susan M. Collins, president of the Boston Fed, about how she thinks about the tradeoffs and other considerations that go into rate decisions. And, economist Julia Coronado gives us a taste of what economic stories could move markets this week, including oil anxiety and Friday’s jobs report.
3-4-2023 • 9 minuten, 46 seconden
Boston’s Fed president talks banks and regulation
There’s been much talk of monetary policy in the wake of recent bank failures, especially as the Federal Reserve continues its fight against inflation. We have one such important conversation with Susan M. Collins, President of the Federal Reserve Bank of Boston, about body’s role in everything from setting interest rates to safeguarding the financial system. And, a look at the implications of OPEC+’s recent announcement that member countries will significantly cut oil production.
3-4-2023 • 8 minuten, 26 seconden
Oil output slashed by the million in the Middle East, but what will be the impact?
From the BBC World Service: With some of the biggest oil producing nations in the Middle East voluntarily cutting output by over one million barrels of oil a day, what will the impact be? The BBC Middle East Business Correspondent Sameer Hashmi is in Dubai finding out. Plus, it’s one of Senegal’s most visited tourist attractions, but the Pink Lake is no longer so pleasing on the eye, the BBC’s Soraya Ali reports from Dakar.
3-4-2023 • 7 minuten, 44 seconden
How might the Trump indictment affect markets?
The announcement of criminal charges against Donald Trump by the Manhattan district attorney’s office last night may not have come as a shock to markets, which were notably muted on the news going into Friday. We chat with Christopher Low, chief economist at FHN Financial, about what the reaction has been so far and what could happen going forward. Plus, we look at projections about a key consumer sentiment gauge before data is released this morning. And, the BBC reports on the Japanese government’s move to stop high-tech microchip exports to China.
31-3-2023 • 8 minuten, 52 seconden
America’s energy transition has a worker shortage problem
The Inflation Reduction Act has set out a slew of funding opportunities for government agencies and private companies looking to usher in the green transition. But as of right now, many industries crucial to that effort are facing an acute labor shortage, including trade jobs like electricians. Plus, a look with University of Michigan Professor Erik Gordon at how former president Trump’s indictment could affect markets. Also, the White House has outlined a plan to beef up regulation and oversight of mid-sized banks. And, Amtrak is seeking record funding this year on the heels of the Bipartisan Infrastructure Act.
31-3-2023 • 8 minuten, 46 seconden
Japan moves to restrict China chip exports
From the BBC World Service: Japan is planning to impose export restrictions on equipment used to manufacture semiconductors. The trade controls align with an American push to limit China’s ability to make advanced chips. Plus, the outgoing head of the World Bank, David Malpass, tells us he’s concerned about some of the loan conditions China has been giving to low income countries. And, we talk to the man behind one of the most successful ever cell phone games — the Candy Crush Saga.
31-3-2023 • 7 minuten, 52 seconden
FDIC hints at who will end up paying for recent bank rescues
The chairman of the Federal Deposit Insurance Corporation said yesterday in remarks to the House Financial Services Committee that the agency’s board would vote in June on a new bank assessment fee to make up for the money spent in the rescues of Silicon Valley Bank and Signature Bank. We look at the details. Plus, China has issued warnings to the U.S. over its brief hosting of Taiwanese President Tsai Ing-wen. And, we talk to Sophie Pedder, The Economist’s Paris bureau chief, about what’s been going on in France amid unrest over the government’s pension reforms.
30-3-2023 • 8 minuten, 7 seconden
Why return-free tax filing isn’t — but probably should be — a thing in the U.S.
Tax season is upon us, and that means an age-old debate is resurfacing amongst accounting nerds far and wide — why do Americans still have to file tax returns? Another simpler, and arguably better, system called return-free filing is used across the world. Chris Farrell walks us through the potential benefits of adopting such a system in the U.S. Plus, why plateauing mortgage rates are leading to more applications from would-be homebuyers. And, a look at some of the rule changes coming to Major League Baseball as teams start playing regular season games today.
30-3-2023 • 8 minuten, 10 seconden
How U.S. green subsidies are forcing other nations to act
From the BBC World Service: When President Biden unveiled the Inflation Reduction Act last summer, the subsidies on offer turned heads around the world. Today the UK is unveiling its plans for a net-zero economy, and the European Union already has its Net Zero Industry Act. But do the policies cut the mustard with business? Plus, The Guardian newspaper has faced up to the slavery links of its founder. It now plans to invest around $12 million over the next decade in a program of restorative justice.
30-3-2023 • 7 minuten, 22 seconden
Bank supervisors under bipartisan fire from Senators
Lawmakers on Senate Banking Committee yesterday grilled bank supervisors and other government financial regulators over alleged failures in oversight leading up to the recent bank collapses. Karen Petrou, managing partner at Federal Financial Analytics, walks us through what’s been said so far — and what could be in store for today’s hearing. Plus, housing prices remain all too high for many people, but recent data suggest a tapering in the rate of rent inflation. And, a look at the economic and environmental effects of having a lead smelting plant in the Los Angeles area, one of the few remaining in the country.
29-3-2023 • 8 minuten, 6 seconden
How do you improve hybrid work culture? Empathy, for starters
As the trend of fully-remote work ebbs and employers push to bring workers back into offices, there’s been an increasing focus on what makes a positive and productive workplace — or a company’s “culture”. We check in with consultant Keith Ferrazzi, who argues that in an increasingly hybrid work world, companies can do a lot more to connect with employees, starting by fostering empathy and personal connection in their teams. Plus, a look into why Chinese e-commerce giant Alibaba has split into six different entities. And, a new California law is aiming to stem supposed price gouging by fossil fuel producers in the state.
Clarification: (Mar. 31, 2023): The book “Competing in the New World of Work,” named during David Brancaccio’s interview with entrepreneur Keith Ferrazzi, was co-written by Ferrazzi, Kian Gohar and Noel Weyrich.
29-3-2023 • 9 minuten, 11 seconden
EU agrees on shift to electric cars, but the internal combustion engine may survive
From the BBC World Service: The European Union has approved a landmark law that ends the sale of carbon-emitting cars by 2035. The new law was expected to make it impossible to sell internal combustion engine cars, but Germany won an exemption for those running on ‘e-fuels’. We explore what they are, and why German industry pushed for their inclusion. Plus, officials in the Dutch capital Amsterdam have launched a digital campaign to reduce the influx of British tourists coming in search of drugs, sex and limitless alcohol. And, we examine how the collapse of Silicon Valley Bank affected startups in Africa.
29-3-2023 • 8 minuten, 25 seconden
Need to cancel a subscription? It may soon get a lot easier
Have you got a bunch of subscription services that need to be canceled but are dissuaded by the onerous process? A new proposal by the Federal Trade Commission aims to streamline cancellations by requiring companies to make opting out as easy as opting in. Plus, we chat with Dr. David Kelly, Chief Global Strategist at JPMorgan Asset Management, about the macroeconomic environment as top banking regulators testify in front of Congress. And, how some American streaming giants like Netflix are winning the hearts and minds of people in France.
28-3-2023 • 9 minuten
Top banking regulators to testify on the Hill
Officials from numerous government agencies that oversee the banking industry will testify in front of the Senate Banking Committee today. We look at what they’re expected to tell lawmakers about the collapse of Silicon Valley Bank and related financial jitters in recent weeks. Plus, protests are continuing in France over president Emmanual Macron’s unpopular pension reforms. And, SVB’s downfall has brought new uncertainty for a variety of businesses, including some winemakers in California.
28-3-2023 • 7 minuten, 50 seconden
How global powers vie for influence in Africa
From the BBC World Service: Vice President Kamala Harris has announced a $100 million conflict prevention package for West Africa at the start of a week-long visit to the continent. We look at how Washington is seeking to counter the growing influence of China and Russia in Africa. Plus, Chinese billionaire Jack Ma is perhaps the most high-profile name in a long list of businessmen to have recently disappeared from public life in China. It’s all linked to President Xi’s crackdown on big tech companies. So why did he reappear at a Chinese school? And, we take a look at the $300 billion ‘modest fashion’ industry.
28-3-2023 • 8 minuten, 24 seconden
Economists think that we’ll see a recession AND inflation this year
A new survey from the National Association of Business Economics indicates that economists believe the U.S. economy will have to endure high inflation along with a potential recession this year. Julia Coronado, president of the organization, talks through the data. Plus, Chinese factories are struggling to get back to their pre-lockdown production levels even after restrictions were lifted. And, we talk with WNYC senior reporter Nancy Solomon about how tax breaks intended on bringing jobs to the city of Camden, NJ mostly didn’t boost local employment.
27-3-2023 • 8 minuten, 55 seconden
Some businesses are now more skeptical of using smaller banks
The recent turmoil in the banking sector has spooked a number of small businesses into moving their deposits from smaller financial institutions to larger ones. We look at what’s driving that shift, as well as what it could mean if the trend continues. First Citizens Bancshares, which is based in North Carolina, will acquire a large chunk of the assets of the collapsed Silicon Valley Bank. And, a recent recall of eyedrops issued by a couple of companies raises the question of how a recall affects consumers and businesses.
27-3-2023 • 9 minuten, 12 seconden
First Citizens picks up SVB assets
From the BBC World Service: It’s Monday, which means there’s another deal in the banking sector. First Citizens BancShares has bought all the loans and deposits of Silicon Valley Bank. Its collapse a few weeks ago triggered a crisis of confidence in the industry, but we’ve seen European banking shares trading higher today. Plus, a strike by two of Germany’s largest unions has brought public transport there to a near standstill. And, it’s 50 years since women were first allowed to work on the trading floors of the London Stock Exchange. We hear from some of the pioneers.
27-3-2023 • 8 minuten, 33 seconden
In normal times, central banks just call each other once in a while. Not right now.
No, right now, central banks around the world have moved to a second level of coordination. All of the economic jitters have more people around the world turning to U.S. dollars for investment security. That rapid flow of dollars can upset the balance, and so the Federal Reserve has had to step in and manage things more carefully. Meanwhile, there is more banking concern today, this time from Germany with Deutsche Bank. Also, protests in France over pension overhauls reach a fever pitch. And, how long until lab-grown meat hits the grocery store shelves?
24-3-2023 • 10 minuten, 3 seconden
Banks are still borrowing emergency funds from the Fed
But at least this week they borrowed less than they did last week. That’s a good sign. We look at why the U.S. central bank is making it easier for banks to borrow more money. And, earlier this month, after 10 years of negotiating, countries at the United Nations hammered out a new treaty that has the potential to significantly change how the world’s oceans are governed. The treaty also sets some rules and regulations around trade on the high seas and the use of natural resources.
24-3-2023 • 9 minuten, 1 seconde
There’s a T. rex on sale in Europe
From the BBC World Service: For the first time since 2019, China is hosting its three-day development forum to show the world that it’s back in business. However, the U.S. guest list is pretty short due to growing tensions between the two countries. Plus, the South Korean businessman, Do Kwon, has been charged by U.S. prosecutors with fraud, over a failed cryptocurrency scheme. Plus, a Tyrannosaurus rex skeleton is going on sale for the first time ever in Europe, valued at around $6 million. But there are concerns it could be locked away from public view by a private buyer.
24-3-2023 • 8 minuten, 19 seconden
Calls for more banking regulation come from Congress
In the wake of turmoil in the banking system, some in Congress argue the solution is more regulation. Republican Sen. Rick Scott and Democratic Sen. Elizabeth Warren have unveiled legislation that would add a new watchdog to oversee the Federal Reserve itself. That’s just one part of the conversation happening in Washington about tightening regulation. Plus, will banking system jitters do the Federal Reserve’s job for it? Also, keeping an eye on the housing market, which is starting to show some traces of stabilization after new home sales rose unexpectedly in February. And, how China hopes to boost its population and, by extension, its economy.
23-3-2023 • 10 minuten, 18 seconden
Why the Fed decided to raise interest rates yesterday
The Federal Reserve, after much hand-wringing amongst market watchers, ended up raising interest rates by 0.25% yesterday, signaling the central bank’s emphasis on fighting inflation despite recent instability in the financial sector. We look into what went into Chair Jerome Powell’s calculus on the rate decision. Meanwhile, Treasury Secretary Janet Yellen sought to assuage monetary hawks yesterday, saying that the government would not implement a blanket policy of fully insuring bank deposits. And, China’s population is changing as many workers age, but some say the demographic shift isn’t as big of a deal as it’s made out to be.
23-3-2023 • 9 minuten, 2 seconden
Rising rates: inflation vs bank balance sheets
From the BBC World Service: After the Federal Reserve, it’s the turn of the Bank of England to make a decision on interest rates. Central banks are juggling two major concerns — inflation and stability in the banking sector. Since SVB collapsed, we’ve seen how higher rates affect the value of assets like bond portfolios held by banks. But in the UK, that decision may be clearer because inflation remains stubbornly high — markets are certainly expecting another rise. Meanwhile, there’s a tussle in the European Union over the date to phase out gas-powered and diesel cars. And, what’s it like doing business in Iraq 20 years after the U.S.-led invasion?
23-3-2023 • 9 minuten, 52 seconden
LA educators continue strike, aided by high demand for jobs
Educators, teachers and other employees at the Los Angeles Unified School District are continuing their strike for higher pay. We look into how broader labor trends are helping demonstrators on the ground make their case. And, we talk with Boston College Law School professor Patricia McCoy about how the government’s recent actions to calm anxiety in the financial sector are adding to the so-called “moral hazard”.
22-3-2023 • 8 minuten, 39 seconden
As states pass pay transparency laws, is their impact clear?
Eight states thus far have passed laws to boost pay transparency in job listings, aiming to grant applicants more information in a competitive job market. We look at the experience of New York City after implementing its own rule. Chris Farrell explains how to make the most of federal deposit insurance — and how someone can get more than $250,000 in the bank insured. And, Google yesterday released Bard, its competitor to Microsoft’s AI chatbot, ChatGPT.
22-3-2023 • 9 minuten, 29 seconden
How Ramadan drives a multi-billion dollar date industry
From the BBC World Service: As the Islamic holy month of Ramadan gets underway, we look at the significance of dates and the multi-billion dollar business of supplying those breaking their fasts. Plus, Ukraine gets a $15bn boost from the International Monetary Fund, and we hear about the class action launched in Indonesia by parents whose children died or were injured by contaminated cough syrup.
22-3-2023 • 10 minuten, 8 seconden
Home sales rebound after a year of decline, but uncertainty looms
The latest data on U.S. home sales showed a huge rebound of 14.5% in February, reversing a trend of decline that lasted more than a year. That said, the market is still fraught with uncertainty, especially amid the recent jitters in the global financial sector. We talk to Guy LeBas of Janney Montgomery Scott about Treasury Secretary Janet Yellen’s recent announcement that the government would insure the balance of deposits at smaller banks. And, prior to the collapse of Silicon Valley Bank and Signature Bank, both institutions received favorable credit ratings from firms like Moody’s, prompting questions about what ratings are actually useful for.
21-3-2023 • 8 minuten, 50 seconden
Loans could become harder to get as financial sector reels
Amid the continued fallout from the failure of two mid-sized U.S. banks and the acquisition of Credit Suisse, financial institutions are likely to start applying greater scrutiny to the loans they give out. We look at what could move banks’ calculus in that direction…and who would be most affected. Another consequence of the recent turmoil in the financial sector has been lower oil prices, which have seen one of their biggest slumps in recent years. And, a fact-check of claims — often made by prominent Republicans — that so-called “woke investing” caused the collapse of Silicon Valley Bank with Washington Post reporter Julian Mark.
21-3-2023 • 9 minuten, 2 seconden
Sri Lanka: Is $3 billion enough to save the economy?
From the BBC World Service: Sri Lanka has been battling economic breakdown for nearly a year. A foreign reserve crisis toppled the country’s president and led to shortages and soaring inflation. Now a $3 billion rescue package has been agreed upon with the International Monetary Fund. We ask if it’s enough and find out what reforms the nation will have to implement to keep the cash flowing. Plus, investors holding Credit Suisse debt lost everything in the rescue deal with UBS. We hear from one of them on how it’s affected confidence in the market. And, with another warning on climate collapse from the UN, we ask what Lego — one of the biggest toymakers in the world — is doing to cut emissions.
21-3-2023 • 8 minuten, 4 seconden
The Fed has a will-they-won’t-they dilemma with next rate decision
The Federal Reserve’s top committee that sets interest rate targets is due to meet in the middle of this week, where it suddenly has a lot more to consider amid global unease about the banking system. Economist Julia Coronado explains what Jerome Powell and co. may be thinking. Meanwhile over the weekend, the Fed announced it’s coordinating with other world central banks to make sure there are enough dollars in the financial system. In Europe, stock markets took a hammering after the acquisition of Credit Suisse. And, a look at how holders of federal housing vouchers in Texas are facing difficulties finding a place to live.
20-3-2023 • 8 minuten, 43 seconden
Deja vu? Another weekend of bank turmoil
It’s been a tough couple of weeks for the global banking sector — the embattled lender Credit Suisse was purchased by fellow Swiss rival UBS for a motley sum of around $3 billion. University of Michigan professor Erik Gordon explains what that means amid the wider unease about the financial sector. Meanwhile, the Fed was one a group of the world’s central banks that came up with system to ensure banks have cash if they need it. And, a look into what’s happened to Signature Bank since it was acquired by federal regulators little over a week ago.
20-3-2023 • 6 minuten, 41 seconden
A shotgun wedding for UBS and Credit Suisse
From the BBC World Service: Just another manic Monday in the banking sector after UBS agrees a $3 billion deal to buy beleaguered Credit Suisse. But who loses out, and has it restored confidence in banks? Chinese President Xi Jinping is due to visit Russia this week, which may impact the latter’s fortunes in Ukraine. Plus, on the 20th anniversary of the invasion of Iraq, we travel to Baghdad’s central market and speak to traders about the country’s dollar crisis.
20-3-2023 • 10 minuten, 56 seconden
Inside Ireland’s shrewd St. Patrick’s day diplomacy
It’s St. Patrick’s Day, meaning people around the world will be wearing green and celebrating Irish culture — even those who don’t have roots there. But according to the BBC’s Leanna Byrne, it’s also a big day for Irish diplomacy and business, as the country uses its widely-recognized national day to foster economic ties around the world. And, we spoke with Yale’s Steven Kelly about the limits of comparing the now-defunct Silicon Valley Bank with the rest of the financial system.
17-3-2023 • 8 minuten, 32 seconden
Banks are leaning on each other for cash amid turbulence
This past week, banks have been ramping up their cash borrowing at record rates to shore up reserves in the wake of recent bank failures. We look at who’s been lending smaller institutions money, including the Federal Reserve and larger banks, and why it matters. New academic research on America’s banking sector has found that the real value of the industry is less than it looks on paper because of rising interest rates. And, a trip to Louisiana, where residents of a former “Black Wall Street” community are raising questions about how the construction of a highway has damaged the area’s economic welfare.